International Monetary optimistic to go beyond Iraq's financial crisis

International Monetary optimistic to go beyond Iraq's financial crisis  >>>  

>>>  Baghdad]   conclude the Iraqi delegation talks with the International Monetary Fund and the World Bank in the spring meetings , which lasted for days in Washington , DC.
A statement by the Iraqi Ministry of Finance received by all of Iraq [where] a copy of it, that " the delegation agreed with the representative of the International Monetary Fund for the Middle East and East Asia Christian nut, at the end of the talks , chaired by the Iraqi side, Minister of Finance Agency Abdul Razzaq al- Issa and in the presence of Prime Minister Advisor financial Affairs appearance of Mohammed Saleh and a number of finance ministries and electricity and with the participation of the Iraqi ambassador in Washington , Mustafa Farid officials to complete meetings and joint coordination to contain the difficulties of the financial crisis. "    The representative of the International Monetary Fund , Christian nut , according to the statement "optimism about the level of understanding achieved and progress with the Iraqi government , " stressing that " the steps of coordination and joint consultations will be completed in the near term will contribute to addressing the financial problems posed by the circumstances of war and its attendant economic effects."

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International Monetary: Iraq are optimistic to exceed the financial crisis

 

4/27/2017 0:00

Amid large government reforms hailed  
Baghdad / Alaa al - Tai
expressed the International Monetary Fund ( IMF ) is optimistic to go beyond Iraq 's financial crisis, at a time when the new World Bank support for the country , revealing the allocation of $ 9 million for gas investment in it.
The Iraqi delegation concluded talks with the IMF and the World Bank within what is known as »Spring Meetings» which lasted for days in the US capital Washington.
A statement by the Ministry of Finance, followed the «morning», that « the delegation agreed with the representative of the International Monetary Fund for the Middle East and East Asia Christian nut, at the end of the talks , chaired by the Iraqi side, Minister of Finance Agency Abdul Razzaq al- Issa and in the presence of Prime Minister for Financial Affairs Advisor to the appearance of Mohammed Saleh and a number of financial and electricity, with the participation of the Iraqi ambassador in Washington , Farid Mustafa and officials of the ministries, the completion of meetings and joint coordination to contain the difficulties of the financial crisis. »
He nut, according to the statement «optimism about the level of understanding achieved and progress with the Iraqi government», stressing that « the joint coordination and consultations will be completed in the near term will contribute to addressing the financial problems posed by the circumstances of war and its attendant economic implications that steps».
President of the International Monetary Fund Christine Lagarde also stressed the importance of government reforms, expressing optimism the exit of Iraq from the financial crisis during the next term.
In turn, Saleh said in an exclusive interview with »Sabah», that «at the level of readiness credit program with the IMF , there are two issues, the first: the ability to continue and develop the energy sector in a complex market conditions and suffered severe crises, while the other is prudent financial management that enabled the country overcome the financial plight over the oil revenues degradation, as well as large expenditures in the budget, which contributed to crush terrorism and liberation of man and the earth .. and finally the success of the price system and the stability of the general price level and the ability to balance by maintaining the level of security of the international reserves of Iraq. »
This comes at a time when the new World Bank 's support for Iraq 's economic reforms and development through an integrated financial management system, praising the Iraqi government steps in the field of resource management.
The statement said that « the World Bank representatives assured the Iraqi delegation that« economic reforms represent the need for prime access to an integrated system for the management of the financial operation of the state at the federal and local level », pointing out that« the meeting made it clear that a significant percentage achieved by the Iraqi institutions in this field .. What gives an area appropriate to the World Bank to support the budget and reconstruction projects within the time limits required to achieve its objectives. »
According to the statement , the World Bank has been welcomed by »steps the Iraqi government in the field of resource management and the development of visions of reform in coordination with international organizations and financial institutions.»
Alissa was announced earlier that the World Bank expressed its readiness to allocate nine million dollars to support the associated gas investment in Iraq.
He said in a statement issued on the sidelines of the meetings that « the Iraqi government will intensify the work of the joint committee between the ministries of finance, electricity and oil to activate the associated gas investment and benefit from it in the operation of electric power projects.» Iraq resolves in the eleventh place among the nations of the world 's rich natural gas reserves of proven about 112 trillion  
cubic feet.
In turn, the price of the Iraqi delegation Bank and the position of the Fund for international support of the country, and stressed orientation of the Iraqi government and its willingness to deal with remnants of war and the development of scientific programs for the next stage start of reconstruction does not end with education systems and job creation and the development of technical skills}.
The World Bank promised to continue to support funding for programs to promote the various infrastructure and reconstruction.

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IMF and the private sector to improve the Iraqi discuss tax revenues



BAGHDAD (Reuters) -

Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund, the recent approval of a loan for Iraq to pay off the arrears to contractors and suppliers of Iraqis and peasants, and the ways to solve this problem, given the importance in stabilizing the economy.

He asked the deputy head of the International Monetary Fund for the Middle East and Asia Christiaan nut at the meeting, which was held in Baghdad about the possibilities that increase state revenues, including taxes and activate those imposed on non-oil products.

He pointed out that «tariffs ranged from 5 percent to 10 percent», saying it «is not the correct way in which the customs revenues collected». He stressed the need to «change this way for up to 30 percent».

He said, quoting Al-Hayat that «the fastest gains and revenues resulting from the regulation and taxation unit, and these significant revenue achieved as imposing on a slice of big dealers».

Coconut called «a recruitment freeze until the development of management, because the high proportion of staff in the civil service was a way to satisfy some of their employment without regard to efficiency, this system will lead to a deficit over the next ten years».

He pointed to «the problem of the weakness of the banking sector and the importance of strengthening business through bank restructuring« Rafidain »and« rational »government, and wide open space in front of private banks with the need to assess the weaknesses and the correct foundations for the fight against money laundering, it can resort to the Integrity Commission and specialized organizations» .

He noted. «Progress made by the Office of Financial Supervision in the audit of transactions unaudited»

She said economist Ibrahim al-Baghdadi, in an intervention that Iraq «began levied customs tariff, which increased its resources in some customs ports to more than 30 times, and the collection of electricity increased 20 times, and referred the Ministry of Electricity to collect electricity fees on companies under investment contracts, and began to appear positive results ».

He stressed that «the payment of dues market will move the wheel and handling weak liquidity in the markets, which affected the individual and small business income level.»

The head of the Federation of Iraqi Contractors Ali Snava, b «the launch of arrears of transactions audited by the Office of Financial Supervision».

He said that «the Federation of Contractors comprises 34 thousand contractors, and gets a large part of their suffering in the tax calculation stage, because the amounts of tax deductions reserved to the provinces».

And it considered the economic researcher Lubna al-Shammari, that «the banking sector reform is a gateway to various investments to Iraq».


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