Cabinet issues guidance to international and financing institutions on borrowing

by **claud39** Mon Mar 11, 2019 6:43 am

http://economy-news.net/content.php?id=15727

Cabinet issues guidance to international and financing institutions on borrowing

03/11/2019

Cabinet issues guidance to international and financing institutions on borrowing 13545

Economy News _ Baghdad

The Council of Ministers has directed international and financial institutions on external borrowing and grants.
"The Cabinet decided to instruct international and financial institutions and countries not to engage in any discussions or direct talks with ministries and entities not related to the Ministry, the provinces and the implementing parties with regard to loans," the Cabinet Secretariat said in a statement.
"The Council stressed the need to obtain official approvals from the Ministries of Finance and Planning, the Committee on Loan Management in the General Secretariat of the Council of Ministers, and send a clear request from the Ministry of Finance on the request for funding and loans accompanied by the approval of the Prime Minister before any discussions."
"The Council agreed to abide by the provisions of Article II (II / VII) of Chapter II of the budget of 2019, paragraph 21 (a) of Section IV of the budget itself to ensure the optimal use of different resources and compliance with the general guidelines of the State, All grantees are ethically provided in finance and planning in accordance with the provisions of Article 1 of the Revenue of the Budget 2019. "