BAGHDAD (IP)- Iraqi Finance Minister said on Wednesday that the country owed $133 billion in foreign debt, and the government was facing a budget shortfall and was forced to take out domestic and foreign loans.

Iran PressMiddle East: Ali Abdul Amir Allawi announced that a draft economic reform bill will be submitted to parliament by the end of this month.

Earlier, Mustafa al-Kazemi's government was scheduled to submit an economic reform bill to parliament within three months of taking office, Middle East News reported.


Economic problems are the most important challenge in Iraq and one of the main reasons for the formation of frequent popular anti-government demonstrations.