Report of the International Monetary Fund (IMF) / Mohammed Sharif Abu Mayssam

Report of the International Monetary Fund (IMF) / Mohammed Sharif Abu Mayssam

Published on Thursday, 01 August / August 2013 20:03
Did not bring the report of the International Monetary Fund recently released a new, could refer to the new features of evolution or a citizen of the defect, unknown in the body of the Iraqi economy, in spite of rumination with sentences and words.

Annual report, which was prepared after several visits punctuated by the process of collecting data from inside the scene of the Iraqi economy, he pointed out the importance of diversifying revenue and not to rely on one side in the TTM fear of fluctuations in oil prices, along with the importance of the development of the private sector non-oil and liberalization of the foreign exchange market to encourage investment. . And the right to do so is to repeat and ruminate about what was said and reported daily in writings and تنظيرات the Iraqi economists in seminars and conferences.

The report brought the same reasons that are repeated annually فتقف behind the failures of the ongoing economic (deteriorating security situation caused by continuing to wrestle political misuse of funds – calling for direct spending in public budgets, reduce waste and improve the quality of spending, «with regard to the electricity sector and spending on salaries by reducing the growth of employment in the public sector with the construction of public financial reserves can fortify spending declines in oil exports or in oil prices – but he praised the government’s performance in maintaining macroeconomic stability in Iraq.

International Monetary Fund which committed Iraq with the World Bank and the Paris Club Bmasmi economic reforms when settling the issue of debt without laws regulating market relations and movement of capital contributed in guiding monetary policy in Iraq over the past ten years, which led to what led to him after detection of the movement of the transfer of funds in the central auction, and was a trustee with the World Bank on public budgets annually makers in Iraq ..

According to its annual report this year, said the reason for the transfer request «, which he called a project» on foreign currency parallel market are the measures the central bank last did not give the real deal for this dilemma did not reveal to us about the results of the economic reforms committed by Iraq, and the secret of instability in monetary policy despite the costs of high spent on work items that policy, which contributed to the set, only to demand liberalization of the foreign exchange market, praising »previous policies of the Central Bank which has achieved monetary stability over three years,» according to the report.

On this, the follower of the history of the recommendations and claims that it was dictated by the Fund on the Central Bank of Iraq like a spiritual father, surprised by the fact that the provisions of the report in this regard, which only displays the reality (and leave the issue of non-verification of monetary stability despite the multiplicity of outlets selling the dollar dramatically) while ignoring the growing demand for the dollar by traders Iraq’s neighboring countries in order to finance trade those states besieged, leaving this matter to his family like a not significant days this policy dealing with the results of the Central Bank current, at a time Amplify the reference rate of growth in the overall economy to the extent that the reader believe that 9% of this growth came from outside the oil exports!

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Interesting read indeed.

weslin3 wrote:So the IMF is satisfied with the stability of the CBI in last 3 years. So there we go... Look out for  the RV.

just got through reading it too, looks promising.