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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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IMF expects the continuation of Iraq's economic activity dimmed in the year 2017

rocky
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IMF expects the continuation of Iraq's economic activity dimmed in the year 2017 Empty IMF expects the continuation of Iraq's economic activity dimmed in the year 2017

Post by rocky Sat 18 Mar 2017, 3:17 am

IMF expects the continuation of Iraq's economic activity dimmed in the year 2017




Direction Press / Agencies
 
President of the International Fund predicted Mission Christian nut, the continuation of the Iraqi economic activity dimmed in the year 2017, due to reduced oil production by 1.5% under the agreement reached by the Organization of Petroleum Exporting Countries (OPEC), and the modest recovery of the non-oil sector.


He Chrisatan in the final statement of the talks of the IMF mission on Iraq, which were held in Amman, "harmed Iraq severely affected due to the conflict with al Daesh, and the sharp drop in world oil prices since 2014 has been the Iraqi government responded to the fiscal crisis, and the crisis in the balance of payments, correct financial large, but necessary, supported by financial assistance from the international community. "

He noted that "in 2016, the real growth of the gross domestic product by 11%, supported by a substantial increase in oil production, which benefited from previous oil investments continued. However, non-oil economy has shrunk by 8% due to the conflict and fiscal adjustment. 


He stressed that the Christian "the sharp decline in oil prices caused lower gross international reserves of Iraq from US $ 53.7 billion at the end of 2015 to a level still comfortable, of $ 46.5 billion, at the end of December /" 2016. 


" The pressures on public finances big ones remain, with the government deficit remains at a level of 12% of GDP in 2016, due to continued weakness in oil prices, high humanitarian and security spending." 

"Also the total public debt of 32% to 64% of the gross domestic product rose in the period 2014-2016. Slowed credit growth and rising bad loans at state - owned banks and private banks significantly in 2016."


He noted that "the Iraqi government maintained the exchange rate peg, a nominal substrate Hamh.mbana that growth prospects in Iraq remain in the medium term modest due to the stability of the expected oil production, and the stability of its investment in the face of constraints on revenues, and the recovery modest in the non-oil growth, backed the expected improvement in the security situation and the implementation of structural reforms. " 


He stressed the need for further reforms to create fiscal space inclusive growth, and enhance the business environment, reduce corruption, and reform of the banking sector to support growth led by the private sector, and diversification in the economy, once launched the reconstruction process in post - regulation Daesh. 

" The risks remain high . This stems mainly from uncertainty surrounding the prospects for oil prices, thesecurity situation and political uncertainty, and a citizen of management weaknesses."


It is said that an Iraqi delegation held with the International Monetary Fund experts (IMF) discussions in Amman on Article IV of the 2017 consultations, and the second revision of the agreement to prepare the credit (SBA) with Iraq, amounting to a 36 - month, which was approved by the Executive Board of the International Monetary Fund in July 7 2016.  

It aims to prepare the credit agreement to correct the balance of public finances and the balance of theexternal position, and improving public financial management, while protecting social spending. 


He met with the team during the mission with the Minister of Finance acting Abdul Razzaq al - Issa, and theGovernor of the Central Bank of Iraq by proxy Ali Mohsen Ismail Keywords, Advisor to the Prime Minister theappearance of favor, and officials from the ministries of finance, oil, and planning, and the Oil Marketing Company (SOMO), and the device Central Bureau of Statistics, the central bank Iraqi, and representatives of the Kurdistan Regional Government, and the Office of financial supervision. 


Iraqi authorities and experts of the International Monetary Fund began discussions on the second revision of the standby credit agreement. These discussions will continue during the coming spring meetings of theInternational Monetary Fund and the World Bank in the period between April 21 to 23/2017 in Washington , DC. "


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rocky
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IMF expects the continuation of Iraq's economic activity dimmed in the year 2017 Empty The International Monetary Fund expects limited growth of Iraq's economy in 2017

Post by rocky Sun 19 Mar 2017, 2:31 am


The International Monetary Fund expects limited growth of Iraq's economy in 2017


History of edits:: 03/18/2017 14:56 • 560 visits readable

{International: Euphrates News} predicted the International Monetary Fund on Saturday, limited the growth of the Iraqi economy for the current year, mainly because of the commitment agreement "OPEC" to reduce the membership of the Organization of crude oil production.
The IMF said in a statement following the visit carried out by the Mission follow him to the capital , Amman, to remain Activity Iraqi economy limited in 2017 due to reduced oil production by 1.5% under the agreement reached by the Organization of Petroleum Exporting Countries {OPEC}, and the recovery is modest non - oil sector.
It agreed "OPEC" in the November / November , 2016 to reduce the total output by 1.2 million barrels a day, starting from January / December 2017 a second, to restore the balance between supply and demand, thereby improving oil prices.
He agreed Iraq - the second largest producer in the Organization - to cut production at a rate of 210 thousand barrels per day.
Fund pointed out that the real growth of the gross domestic product of Iraq was 11% in 2016, supported by a substantial increase in oil production , which benefited from previous oil investments.
The Economic Observatory for the Middle East and North Africa of the World Bank, had expected to recover Iraq 's economy to grow 7.2% in 2016

and is under the overall Iraqi economy, risks related to the global environment and social and political developments and Daesh.
The decline in the pace of global economic growth , or the continued abundance of the global supply of oil, could create downward pressure on crude prices, and thus result in new pressures on public finances and the external account deficit.
The Iraqi government and the experts of the International Monetary Fund and the discussions were held in Amman , Jordan, during the period from 5 to March 17 / March of this, Article IV of 2017, and the second revision of the standby credit agreement with Iraq.
It aims to prepare the credit agreement, to correct the balance of public finances and the balance of the external position, and improving public financial management, while protecting social spending.

Fund confirmed, that Iraq was hit by Daesh gangs, and the sharp drop in world oil prices, the government has responded to the crisis of public finances and balance of payments crisis, a large corrects Mali, but necessary, supported by financial assistance from the international community.

The head of the IMF mission to Iraq Christian nut, said the sharp drop in oil prices caused lower gross international reserves of Iraq of 53.7 billion US dollars at the end of 2015 to a level still comfortable, of $ 46.5 billion, at the end of December / December 2016.
He added that Total public debt rose from 32% to 64% of GDP in the period 2014-2016, "and slowed credit growth and rising non - performing loans has largely state - owned banks and private banks in 2016".
It pointed out the need for further reforms to create fiscal space inclusive growth, and enhance the business environment, reduce corruption, and reform of the banking sector to support growth led by the private sector, and diversification in the economy.
The Iraqi government and the experts of the International Monetary Fund and begin discussions on the second revision of the standby credit agreement.
And will continue these discussions in the coming spring meetings of the International Monetary Fund and the World Bank in the period between April 21 to 23 / April next, in Washington , DC

and concluded Iraq and the International Monetary Fund in May / May 2016, an agreement after meeting for several days held in the Jordanian capital, to grant Iraq financial loan of 5.3 billion dollars with an interest rate of up to 1.5%.
Iraq and received an initial installment worth $ 634 million in July Almadi.anthy

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