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Decree of Muharrem
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Decree of Muharrem

Ottoman Empire [1881]
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The Decree of Muharrem, issued in December 1881, was a financial agreement between the Ottoman Empire and its European creditors. This decree aimed to manage the empire's substantial public debt, which had grown to approximately £191 million by 1875.12

Under the terms of the decree:
* The Ottoman public debt was reduced to £106 million.12
* Specific revenues were allocated for debt servicing.12
* The Ottoman Public Debt Administration (OPDA) was established. This organization, controlled by Europeans, was responsible for collecting these assigned revenues to ensure payments to creditors.12

The OPDA played a significant role in Ottoman financial affairs, influencing resource allocation and limiting the empire's ability to direct its own finances, especially when combined with other European financial controls.12

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8 Britannica Sources
  1. decline of the Ottoman Empire - The 1875–78 crisis
  2. Ottoman Empire - The 1875–78 crisis
  3. decline of the Ottoman Empire - World War I, 1914–18
  4. Ottoman Empire - World War I , 1914–18
  5. Ottoman Empire - The Young Turk Revolution of 1908
  6. decline of the Ottoman Empire - The Young Turk Revolution of 1908
  7. Ottoman Empire - Reforms in law
  8. Ottoman Empire - The Ottoman constitution, 1876

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