IMF calls for Iraq to sell public facilities and the removal of subsidies on gasoline and money laun

IMF calls for Iraq to sell public facilities and the removal of subsidies on gasoline and money laundering

Date: Wednesday, 24-07-13 02: 05 am


The report recommended by the International Monetary Fund Iraq and view the Fund's resident representative Ghazi shubaikat, at a press conference held today at the headquarters of the Iraqi Business Council in Oman, the need to continue the rational management of the foreign reserves of the Central Bank of Iraq and the Development Fund for Iraq, deepening reform of the financial sector and establishing equal treatment for private banks to create a system to combat money laundering and the fight against terrorism, and that there be prudent management of the Development Fund for Iraq and the abolition of fuel subsidies granted to producers, the cost of support fuel up to around 10 billion dollars and restructuring State-owned enterprises For the Iraqi State any sale of public sector institutions.

The report also called for intensified action to liberalize the foreign exchange market, and a stable exchange rate, foreign currency and simplify instructions, and recommended continued fiscal and financial preventive margins to meet fluctuations in oil revenues.

The report said speeding up the pace of structural reform to boost growth and job creation in the private sector.

He called for a law on hydrocarbons sector and investment in electricity production, governance reform and capitalization of the institutions, and the closure of non-viable.

He stressed the need to improve the business environment and the agricultural sector, through the public distribution system, which contributed to the decline in domestic production, and reconsider support mechanisms provided by the Iraqi Government for its citizens.

Shubaikat said the main risks facing Iraq is the poor implementation of political reforms, the political and security level, and the delay in the increase of oil production and falling oil prices globally, and stressed the need for Iraq to have the private sector able to production, and direct investment in non-oil sectors, particularly electricity and agriculture, which have a significant competitive advantage Iraq, adding that Iraq needs years of work to rebuild human capital.

Shubaikat pointed out that the overall economic prospects for the medium term will continue to be driven by developments in the oil sector, where production is expected to increase Iraq oil gradually by about 500,000 barrels per day in the year, to 5.7 million barrels a day by 2018, compared with 3.3 million barrels currently.

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Give the IMF a cigar $$$$$ speed this up , sounds like they r tired of Iraq s government too !!!!

wayoutnow wrote:Give the IMF a cigar $$$$$ speed this up , sounds like they r tired of Iraq s government too !!!!

Agreed! Maybe IMF just needs to take matters into their own hands.

csd9013 wrote:Agreed! Maybe IMF just needs to take matters into their own hands.

I agree!, if not these Idiots may take years to do what should have already been done,!