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The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund

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The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund Empty The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund

Post by claud39 on Fri Apr 17, 2020 8:07 am

The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund




Friday, April 17, 2020



The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund Eb3e564e-1949-44f5-8883-dfca9b303246



On Thursday, April 16, Deputy Prime Minister and Minister of Finance Mr. Fouad Hussein met, through closed-circuit television, with Dr. Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and his accompanying delegation. On the Iraqi side, Dr. Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance, and Salem Al-Pulbi, Adviser to the Prime Minister, attended the meeting.


At the beginning of the meeting, Mr. Fouad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million barrels per day to International markets. Iraq’s acceptance to reduce more than one million barrels per day of Iraqi production, and the effect of this decision and the decline in oil prices on the financial and economic situation in Iraq.

On the other hand, the Deputy Prime Minister explained the studied measures on how to deal with this situation and the government's ways to face these challenges.

On the market situation and the availability of foodstuffs, Mr. Fouad Hussein emphasized the abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market. . This is considered positive under the current conditions and the lack of local market prices due to the closure of border outlets and the interruption of trade exchange with other countries due to the spread of corona disease.

 He also pointed to the development in the agricultural sector, stressing also that the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of combating the Corona virus pandemic and the financial crisis. 

Dr. Jihad clarified the Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and prioritize public spending, and expressed the possibility of Iraq benefiting from the financial facilities provided by the Fund to member countries. The delegation of the Fund stressed that it is important to continue dealing and communicating with international financial organizations as the "Fund" is ready to discuss with various countries to help Iraq in the health and financial fields.







http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=814
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The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund Empty International Monetary confirms its readiness to assist Iraq in prioritizing public spending

Post by claud39 on Fri Apr 17, 2020 12:00 pm

[size=36]International Monetary confirms its readiness to assist Iraq in prioritizing public spending[/size]






17/04/2020









The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund 131742020_ImageThumb



Baghdad - Mawazine News


, The International Monetary Fund, on Friday, confirmed its readiness to assist Iraq in prioritizing public spending in light of low oil prices and the consequences of the emerging Corona virus.

A press release issued by the Information Office of the Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein received / Mawazine News / a copy of it, "The latter met, through closed-circuit television, with Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and the delegation Accompanying him, the meeting was attended by Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance, and Salem Al-Pulabi, Adviser to the Prime Minister.

The statement added, "At the beginning of the meeting, Fuad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of the Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million Barrel per day to global markets.


 Iraq’s acceptance to reduce more than a million barrels per day of Iraqi production, and the impact of this decision and the decline in oil prices on the financial and economic situation in Iraq. He also explained the measures studied on how to deal with this situation and the government's ways to confront these challenges.

On the situation of the market and the availability of foodstuffs, Hussein emphasized, "The abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market." 


And this is considered positive under the current circumstances and the local market prices were not affected due to the closure of the border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease.

He referred to "the development taking place in the agricultural sector," stressing that "the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of the fight against the Corona virus pandemic and the financial crisis."

For his part, Jihad explained, "The Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and arrange priorities for public spending, and expressed the possibility of Iraq benefiting from the financial facilities provided by the Fund to member countries."

The delegation of the Fund stressed that "it is important to continue dealing and communicating with international financial organizations as the" Fund "is ready to discuss with various countries to help Iraq in the health and financial fields."


 Ended 29 / h




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The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund Empty International Monetary: Iraq will top Arab countries in terms of economic growth during 2021

Post by claud39 on Sat Apr 18, 2020 5:58 am

International Monetary: Iraq will top Arab countries in terms of economic growth during 2021


04/18/2020



The Deputy Prime Minister and Minister of Finance discusses the financial and economic situation with the representative of the International Monetary Fund 20250



Economy News _ Baghdad



The International Monetary Fund expects a sharp contraction in the economy this year, but is optimistic about the recovery of the world's economies, including Arab, in 2021.

The fund has lowered its forecast for global economic growth this year in light of the uncertainty associated with the spread of the emerging corona virus in the world.
 
In April's Global Economic Prospects report, the IMF said that Covid 19 had caused high and high human costs worldwide, and isolation measures were severely affecting economic activity.
 
"Assuming that the epidemic will fade in the second half of 2020 and that stimulus measures around the world are effective, we expect global growth in 2021 to rise partly to 5.8%," said IMF chief economist Geeta Gopinath.
 
With regard to the Fund's expectations for the Arab region for the year 2021, the data showed that Iraq will top the Arab countries in terms of economic growth, as its economy will rise next year by 7.2%, after a fall in the current year by 4.7%.
 
Iraq is second only to Algeria, and according to a fund, the Algerian economy will grow in 2021 by 6.2%, after declining in 2020 by 5.2%.
 
In third place, Qatar will grow by 2021 by 5%, after a contraction in 2020 by 4.3%, and then by Morocco with a growth of 4.8%.
 
As for Saudi Arabia, it will grow in 2021 by 2.9%, to rank in the Arab countries in terms of growth in the tenth position, and it is surprising in the report that Egypt, the only Arab country that is expected to grow in 2020, will rank 11th in the list and grow in 2021 by 2.8%.





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