Iraqis mock the formation of an international financial alliance: Iraqi competencies are deliberately disabled

Iraqi currency
 
10/23/2020

Economy News - Baghdad

A number of Iraqis ridiculed the formation of an international financial coalition to support Iraq in the current financial crisis due to resorting to foreign competencies and not relying on Iraqi competencies.

And announced yesterday in London, the establishment of an international financial alliance under the name “Economic Contact Group that includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to confront the stifling financial crisis. The financial alliance will aim to stimulate international support for an urgent economic reform program that will last for 3 years and at a cost of 6 million pound. And providing global expertise to achieve economic growth and providing international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes to drive growth.

The International Financial Alliance to support Iraq includes: America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq it includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee.

An economics professor at Basra University, Nabil Al-Marsoumi, said that the establishment of this alliance means the ineffectiveness of the advisory body in the Council of Ministers and the economic teams in the Ministries of Finance and Planning and its inability to find effective solutions to the current financial crisis and the Iraqi government having to contract with foreign authorities to import solutions like other commodities. Which we import from abroad despite the government's release of its white paper, which it sees as an important reform recipe to alter the paths of the Iraqi economy.

On the other hand, the economist, Dr. Maytham Laibi said, the Al-Kazemi project is an international American project, unfortunately, not a national project, and it is a project against the Iranian threat, explaining economically Al-Kazemi presented his reform paper, which is a paper of international institutions subject to its requirements, and a paper that needs financial support that can be It is obtained from an international coalition established for this purpose by agreement of a group of superpowers and their institutions, according to a medium-term schedule of 3-5 years .

He explained, "The man (Al-Kazemi) is planning to stay, and his stay is dependent on the opponents’ plans in the coming months that could be plotted against him to bring him down . "

Laibi expected that the economic reform would continue without "tangible" changes in the exchange rate or "sharp" deductions for employees' salaries ... as these sharp and tangible changes could undermine the stability required to implement the reform package .


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