Saleh: go to foreign loans did not come from a vacuum!

Baghdad / Iraq News Network there were many voices claim the need for direct international loans to the productive sectors and the tourism sector to create sustainable development which would contribute to the multiplicity of financial resources of the country and to address a series of economic problems experienced by Iraq. And examine the economic experts and those involved at a seminar organized by the organization in July for Development and Foundation Friedrich Ebert , German today, ways to channel lending to check fields benefit not burden the country 's debts are difficult to repay in the future. The president of the Organization opened a symposium in July Vian Sheikh Ali , saying that " the basis of social development is economic development, and what concerns us stand at the international credit risk and its impact on generations and the mechanism repaid and how you can make them do not affect negatively the national economy. Then followed the modern director of the Friedrich Ebert 's office in Baghdad and Amman Anja Feller her speech focusing on the direction in which you recruit loans and afford benefits for Iraq after it surpassed many challenges for a long time. After that symposium was moderated by Vice President Baghdad Economic Forum on behalf of Jamil Antoine said: " The subject of a large and broad international loans and needs to elevate the administrative side of this money, and avoid the experiences of countries got faced difficulty in loan repayment.

Aspects of development and pointed out that Iraq has a wealth of mankind bear thinking creatively able to fulfill the administrative aspects of the economy in accordance with the methods of sound administration and promote developmental aspects, where human capital is the most important wealth. Antoine between that reduce dependence on international loans it requires hard work on the monetary mass chunky draw at home to the banking sector after the adoption of elements to attract offers from the Iraqi banking sector. Financial Advisor President Minister Dr. The appearance of Mohammed Saleh said that "to go to foreign loans did not come from a vacuum, where he faced Iraq conditions extremely difficult led him to this matter in the forefront of the decline in oil prices and the war on Daesh", pointing out that the war on terrorism over the past few years , Iraq cost 40 billion dollars, noting that the US military loan was a military equipment to the urgent need them. Iraq has faced during the year 2014 Sdmtin represented the first decline of crude oil prices in world markets and the war on "Daesh" The terrorist and the accompanying large expenses.

Iraq party in favor of that circumstance Iraq during the financial year 2014 onwards could be described as quite as difficult, noting that financial management has worked successfully and was able to maintain the financial integrity. And accept the benefit of the reality of loans and why Iraq went to the international market to borrow, where Iraq has received advice from international institutions and how Nlthm financial world and must avail himself of Iraq multilateral financial umbrella , and we went to the international transportation fund and then get on a long - term and an interest rate acceptable loan, adding that the international community seen the country through its relationship to the Fund , which extends its relationship with 180 countries. He said the IMF had conditions designed to service the Iraqi economy begins to improve financial performance and respect of State accounts and liquidity management and fund demanded the establishment of the Deposit Insurance Corporation. He said the fund draw a road map to meet the budget deficit which is expected to be the nearly 50 billion dollars in three years , and how they faced, pointing out that the external borrowing during the year 2016 amounted to 3.8 trillion dinars.

Iraq 's debt , a financial expert d. Majid picture accept financial Iraq 's march and said that Iraq was in 1980 , before he had a $ 35 billion surplus, pointing out that the statistics confirm that after the year 1988 amounted to Iraq 's debt of more than $ 80 billion, then the period of international sanctions and isolation from the world. Suri government called for action to reconsider the administrative policies Jmaaa and must apply the law of financial management , outstanding financial management and laws and the creation of a statistical system deals with financial matters.The deputies Kurdish council member D.azh Sadiq stressed that "no disbursement of loans in development projects weigh the shoulders of the country in the future. It will no doubt be to make plans for a minimum of interest to the national economy , loans, and be our agricultural productivity and industrial sectors and employs loans in development. Moderator Bgadad economic Faris Al Salman wondered about the reality of loans and whether laid out a plan to repay them according to a certain price for crude oil prices in the global market and is there a contingency plan in the event of the collapse of world prices. Competent economic affairs Abdullah al - Hassan al - Shammari said: We must reassure the community about the future of the debt, and that there is a trend toward loans for productive sector and the tourism sector to create sustainable development and the multiplicity of financial resources of the country.