Parliamentary Finance: borrow from banks does not hurt in Iraq The World Bank

by **Ponee** Sun Jun 07, 2015 9:52 am

Tomorrow Press / Baghdad: Counting member of the Finance Committee in the House of Representatives Jabbar Abdul Khaliq, Sunday, that borrowing from banks in Iraq does not hurt as much as the danger that results from the survival of the deficit in the budget of the country.

Said Abdul Khaliq for "tomorrow Press," that "Iraq is a founding member of the International Monetary Fund, a shareholder and has the rights to the fund, as well as the headquarters of borrowing in the budget and the government can be traced back to borrow at any time."

"The borrowing does not hurt the country's economy, because as long as there is a need to borrow, then there is no harm in it, because the best interest of borrowing from the damage that might happen if he stayed in a large budget deficit."

Abdul-Khaliq said that "Iraq's budget as well-known deficit and yet the government does not find real resources on the floors of finance and bridging the deficit, so it is not a choice but to borrow from banks."

He said the Director of the Middle East and Central Asia Department at the International Monetary Fund Masood Ahmed in an earlier statement that "Iraq's request for financial assistance from the Fund," stressing that "an agreement may be a loan of about $ 800 million within weeks."

SOURCE