Iraq: Oil Could Solve the Iraqi-Egyptian Debt Dispute

Jan 26, 2015 | Zachary Toliver, Marcellus.com
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Earlier this month, Iraqi Prime Minister Haider al-Abadi made a visit to Egypt which ended in a series of new agreements between the two nations, including economic settlements and expanding efforts to combat the Islamic State (IS).

According to a recent report, an Egyptian government official told news publication Al-Monitor that Egypt offered “dropping the Iraqi debt in exchange for Iraqi oil shares. The concluded economic agreements also included resending Egyptian workers and contracting companies to Iraq.”

Historically, relations between the two nations has been strained due to Iraqi Central Bank’s refusal to pay $1.7 billion to Egypt.