International umbrella for Iraq promotes radical reform of its economy and get rid of the absurd waste of budget

by **Ponee** Sun Oct 16, 2016 2:51 pm

Finance Committee in the House of Representatives, confirmed on Saturday that the financial umbrella provided by the agreement with theInternational Monetary Fund and World Bank , which will contribute to the creation of "radical reform" of theIraqi economy, and implementation of projects for the reconstruction of liberated areas, and indicated that it will work to strengthen the infrastructure and the postponement of debt payment and reparations owed by the country, while pointing an economist to the international Monetary Fund loan to Iraq would be in batches to make sure Baghdad 's commitment to its recommendations and to leave the "economic tampering and waste of public money" approach.

he was the financial advisor to the Prime Minister and the appearance of Mohammed Saleh revealed on Monday ( the tenth of October the second in 2016) on the outcome of the talks with the IMF and World Bank mission, in obtaining loans by about four billion dollars, over three years, as well as the agreement on the support of the government 's reform program so as to help Iraq to overcome the dependence on oil problems, and the fight against corruption.

parliamentary: loan international contributes to the radical reform of the Iraqi economy says member of the Finance Committee , the parliamentary Najiba Najib in an interview (long - Presse) that "financial umbrella provided by the international Monetary Fund and World Bank that contribute to a radical reform of the Iraqi economy, and implementation of projects for the reconstruction of liberated areas and theother to strengthen its infrastructure as well as the postponement of debt and reparations owed him pay. "

She adds Najib, he said that" the agreement with the international Monetary Fund and World Bank soft loans is very important and hurt the interests of Iraq and financial Public ", noting that" the World Bank loan will be in the form of projects for the reconstruction of areas liberated from Daesh as well as the establishment of other projects for transportation and other fields needed by the country that contributes to the strengthening of its infrastructure. "

the relay Najib, that" the IMF loan, which will be in batches, were received $ 630 million, meal first of it, it involves a feasibility significant economic, under Iraq 's agreement with the IMF to prepare the credit ", usually the" IMF loan, it will provide Iraq with $ 18 billion financial umbrella, through the postponement ofdebt and reparations owed by the country to pay as well as donor assistance to him nations, and dictated by the financial reform radical. "

expert: IMF seeks to make sure to leave Iraq economic tampering approach
sees an economist, that the IMF pays his loan to Iraq in batches to make sure that his commitment to his recommendations and his departure approaches , " economic tampering and waste of public money , "and go to revive the productive sectors.
the name says Antoine in an interview (long - Presse) that " the international Monetary Fund to develop recommendations and consulting the Iraqi government, to address the tampering and wastage of wealth over the past years , " noting that " the fund does not want Iraq to continue to walk on the economic approach that caused the waste of public money, and emphasizes the that goes for every dollar paid to productive work, not to meet the salaries and allowances and others. "

explains Antoine, that" the IMF committed to paying the second meal of the loan to Iraq after touching that things are going around quite a bit, with its emphasis on the need to continue to apply its recommendations to build an economy productive and encouraging industrial and agricultural sectors , "pointing out that" the international Fund for granting loans in exchange for commitment to his recommendations and only Cioagafha so Iraq did not give the loan at once. "

the negotiations Iraq with the IMF mission , the World Bank , which took place in the US capital, Washington, for the duration of the sixth to the tenth of October 2016, complementing the first review of the Convention on the willingness of credit with Iraq.

Iraq had happened in July of 2015 on a payment equal to about one billion and 240 million dollars, through the"rapid funding , " the IMF 's tool.

acknowledges Iraq before mid - July in 2016, about $ 634 million, the first installment of the IMF loan, immediately after the IMF Executive Board approval represents, in ( the seventh of this month) on the standby credit agreement with Iraq, noting that the loan term is five years , annual interest rate low of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months. it is
noteworthy that Iraq has agreed with the international Monetary Fund and World Bank to provide financial his umbrella up to $ 20 billion, to overcome the financial crisis as a result of the sharp decline in oil prices and the war against (Daesh).

10.16.2016

LINK