Grants and loans to Iraq from the IMF more than $ 3 billion

Grants and loans to Iraq from the IMF more than $ 3 billion


 Baghdad / Zahraa Al-Jassem


Financial Advisor to the Prime Minister , Dr. said. The appearance of Mohammed Saleh, that Iraq , according to the recent talks with the International Monetary Fund in Washington , the second review of the program to prepare the credit, will receive grants and soft loans of more than $ 3 billion during the year 2017, to support the budget and reconstruction and investment projects in infrastructure, as explained IMF In turn , the agreement aims to restore balance to the account of public finance and external account and improving public financial management while protecting social spending for Iraq.
A senior Iraqi delegation had recently discussed in Washington with the IMF team headed by Christian Josh head of the IMF Mission for Iraq, the second review of the program to prepare the credit (SBA) between Iraq and the International Monetary Fund in the spring meetings of the IMF and the World Bank agenda.
Josh said in an interview (term) The Iraqi authorities have held discussions with the International Monetary Fund experts from 21 to 25 April 2017, on the second revision of the agreement to prepare credit amounting to a 36 - month, which was approved by the IMF Executive Board on July 7 2016 pointing that this agreement is aimed at restoring balance to public finances and the external account account and improving public financial management while protecting social spending for Iraq.
The head of the IMF mission had between in an interview earlier (range) that Iraq can assume its debts if the Iraqi authorities carried out the agreed financial correction with the IMF under the standby credit agreement, and the future readiness of credit program with the fund if exposed oil prices to a significant improvement in serving the deficit, he noted that under the current outlook for oil prices, we believe that it should follow the approach of the financial correction that combines ambition and viability, in order to bridge the gap with the end of this decade (2020), and if oil prices rose largely no longer with the need for international financial support international Monetary Fund wa Other Donors, leaving the decision of the Iraqi government regarding the continued implementation of the standby credit agreement with the Fund.
Financial Advisor to Dr. Ebadi. The appearance of Mohammed Saleh, in turn , between the modern (range): two important issues we are working on them at the level of readiness credit program with the International Monetary Fund, the first ability to continue and develop the energy sector in a complex market conditions experienced severe crises, and the other is the prudent financial management that has enabled the country from financing her ordeal exceeded 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 offset that conservation on the safe level of international reserves for Iraq.
He adds Saleh, the World Bank also promised to continue to support various funding programs for the advancement of infrastructure and reconstruction within the loan program or funds so - called development program, both senior World Bank itself resources or contributions from donor countries, particularly the Group of Seven industrialized countries, noting: that consultations with the international Monetary Fund, the World Bank held in Washington, was to get under which Iraq grants and soft loans of more than $ 3 billion this year, to support the budget and reconstruction and investment projects in the infrastructure, we have discussed with the Fund for the team Has international headed by Christian Josh director of the negotiating team for the fund, the second review of the program to prepare the credit ((SBA between Iraq and the International Monetary Fund, as part of the spring meetings of the IMF and the World Bank agenda.
To that Iraq took the day before yesterday, a grant from the World Bank worth $ 41 million , while confirming that the Ministry of Finance, that the money would go , according to those who made it to the reform and modernization of economic management and the investment process in the country.
and sees interested in economic affairs, that the economic reforms will contribute to creating attracting foreign investment factors, which will expand Fashio base Productivity and alleviate the burden on the public budget.


[You must be registered and logged in to see this link.]