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    The potential of the Ministry of Foreign Affairs to revive Iraq

    The economic challenges facing Iraq have accumulated in recent years, leading to an economic crisis that has left Iraq in need of cash liquidity other than those provided by oil sales, especially in the face of unstable oil prices, the search for non-oil liquidity leads to the opening of important financial files for which exceptional efforts are required in terms of external relations, perhaps the most important sources are Iraqi funds frozen or smuggled abroad, the research in this regard leads us to examine the role of the Iraqi Ministry of Foreign Affairs in obtaining such funds or other funds for which efforts are required in foreign relations, the role of the Ministry of Foreign Affairs is an important part of the series of roles that must be played by various Iraqi institutions to reach the recovery of smuggled or frozen Iraqi funds.

    The figures disclosed by official entities on the number of Iraqi funds abroad (smuggled or frozen) are inconsistent, one member of the former Anti-Corruption Council (Saeid Yassin Musa) notes that Iraqi assets smuggled and frozen abroad total up to $500 billion, that there are 450,000 recovery files opened by the Iraqi State until 2020, and that for cruise purposes in what we are asking, we will divide Iraq’s funds abroad into two types, the first is funds frozen before 2003, and the second is Iraqi funds smuggled abroad from the proceeds of corruption after 2003, We will then clarify the role of the Iraqi Ministry of Foreign Affairs and the steps it can take to obtain funds that fall into both types.

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    LINK:  https://www.bayancenter.org/2021/06/7106/