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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    IMF launches second loan payments to Iraq to fill budget deficit

    Rocky
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    IMF launches second loan payments to Iraq to fill budget deficit Empty IMF launches second loan payments to Iraq to fill budget deficit

    Post by Rocky Wed 07 Dec 2016, 3:28 pm

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    International Monetary Fund
    IMF launches second loan payments to Iraq to fill budget deficit


    Author: HH, ZJ 
    Editor: BK, HH 
    07.12.2016 16:04 
    Number of Views: 853


    Long-Presse / Baghdad
    Financial advisor to the prime minister, Haider Abadi, announced on Wednesday, the approval of the International Monetary Fund to release the second tranche of its loan to Iraq amounting to $ 618 million, and while stressing that the amount will be allocated to cover the deficit the general budget, he noted that the second review of the Stand-By program of consultations with the Fund will begin early next year in 2017.
    The International Monetary Fund, said in a statement, cashed 617 million and $ 800 thousand for the race after the first review of the program of the Iraqi financial reform finishes by the executive body of the Fund, according to prepare the credit designed to support Iraq's economic reform program and retrieve the financial balance of the country in the medium term agreement.
    He said the appearance of Mohammed Saleh, in an interview to the (long-Presse), "The Executive Board of the IMF approved the first review of the consultations between the representatives of the Government of the Republic of Iraq and the mission of the fund's report on the implementation of the standby credit of the Fund program in Iraq," noting that "the Executive Board the Fund approved the release of $ 618 million as part of the amount allocated to loan Iraq, constitute the second batch will be delivered over the next few days to support the budget deficit. "
    He said the financial advisor to Ebadi, "The first batch received by Iraq of the loan amount, the $ 634 million", pointing out that "the total receipt of Iraq from the IMF loan of five billion and $ 300 million, since July 2016, and until now, has thereby billion and $ 252 million. "
    Saleh pointed out that "consultations with the IMF mission is still going on to complete the second review that will take place early next year, in 2017, to launch the rest of the loan payments."
    [rtl]The Iraqi Council of Representatives voted on Wednesday (December 7, 2016), during its 36th legislative term first legislative year, the third on the financial budget for the next year in 2017, with the budget amounted to 100 trillion dinars and a deficit of 21 trillion dinars, the Parliament ended the legislative term first and raise its for one month.[/rtl]
    The deputy managing director of the Executive Body of the International Monetary Fund, Mitsuhiro Vorosawa has issued a statement in the wake of the approval of the payment of the second installment of Iraq from the Fund loan, on Tuesday, stressed that the economic policies carried out by the Iraqi authorities in dealing with the trauma faced by the country, from conflict armed with the organization Daesh and the repercussions of the humanitarian crisis with the collapse of oil prices, was "appropriate and good," noting that the Iraqi authorities have made "significant" financial reforms by reducing expenditures it is important to protect spending in the social sphere, as Iraqi authorities maintained in relation to in the field of external spending on the Iraqi dinar exchange rate against the dollar and the supportive foundation for the economy.
    Iraq and delivered by mid-July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.
    The United States of America, confirmed in (the twentieth of April 2016), that the economic reforms the Iraqi government began to show the effects of an increase of non-oil imports, indicating that the Iraqi government's success in reducing the budget deficit means obtaining a loan from the International Monetary Fund worth billions of dollars.
    The International Monetary Fund approved in (the 13th of January 2016), to finance the deficit of the Iraqi budget through clouds of hard currency reserves, which led to the reduction of those reserves from $ 59 billion October 2015 end, to 43 billion during the current 2016 .

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