Iran–Iraq War
The Iran–Iraq War was one of the longest wars of the 20th century. It was a veritable war of attrition, a pyrrhic war with no victor. Before the war, Iraq had foreign exchange reserves of us $37 billion. At the end of the war, its foreign debt was over US$70 billion, of which over US$40 billion was arms debt owed to western countries and the Soviet Union, and the ver US$30 billion was loans owed to other Arab countries.