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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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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    International Monetary Fund urges Iraq to maximize its resources by revitalizing industry and agricu

    Rocky
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    International Monetary Fund urges Iraq to maximize its resources by revitalizing industry and agricu Empty International Monetary Fund urges Iraq to maximize its resources by revitalizing industry and agricu

    Post by Rocky Sun Sep 17, 2017 2:54 am

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    International Monetary Fund urges Iraq to maximize its resources by revitalizing industry and agriculture


    Baghdad / Range 

    The International Monetary Fund said it looked forward to maximizing the non-oil resources of Iraq's economy through the development of industry and agriculture, improving services, controlling customs and reviewing its mechanism of operation as an important resource for the Iraqi government in the next stage in the light of low oil prices. The private banks to take their natural role to stimulate the economy of the country and by allowing the dealing of its services with private banks in order to restore confidence to the banking sector. This was during a meeting in the Jordanian capital of Amman within the Association of Iraqi Special Banks with the International Monetary Fund, which focused on the challenges facing the Iraqi economy during the current stage and ways to address the economic crisis and the credit readiness agreement signed by Iraq with the International Monetary Fund in 2015.



    The latest consultation between Iraq and the IMF was held for the second review of the credit agreement on 1-6-2017, in which Iraq sought a loan of about $ 840 million as part of the credit readiness program signed between the two sides. The agreement aims to rebalance the financial account The external account and the improvement of public financial management while protecting expenditure. The head of the mission of Iraq to the International Monetary Fund, Christian Jos, during the meeting, a summary of the economic situation in Iraq and ongoing discussions with the Iraqi government under the Convention on credit readiness, noting: "The IMF looks forward to maximize non-oil resources of the economy of Iraq, The country as industry and agriculture, in addition to improving services, with the need to control customs and reconsider the mechanism of work. "

    "The IMF sees that" the organization of the work of the Iraqi customs will be an important resource for the Iraqi government in the next stage, especially in the light of low oil prices, "adding:" The IMF also expects that the price of a barrel of oil during the next five years rate $ 50 per barrel. "
    The economic reforms in Iraq include an increase in taxes and electricity charges, and improved level of banking supervision to combat corruption and money laundering. The economic reforms in Iraq will improve the country's productive base and ease the burden of the public budget. Executive Director of the Association of Iraqi Private Banks Ali Tariq said in a statement obtained (a copy) that "a delegation from the Association of Private Banks met with the head of the mission of Iraq to the International Monetary Fund, Christian Jos in the Jordanian capital Amman, and during the meeting, discussed the challenges facing the economy of Iraq During the current stage and ways to address the economic crisis and the credit readiness agreement signed by Iraq with the International Monetary Fund in 2015.
    Tariq added that "the Association of Iraqi private banks stressed during the meeting on the need for the government to allow private banks to take their natural role to revitalize the economy of Iraq by allowing the government to deal with private banks with a view to restore confidence to the banking sector," but added: On the development in the banking sector in terms of compliance and compliance with international requirements, especially with regard to operations against money laundering and financing of terrorism and the Association in cooperation with the Central Bank of Iraq to train 70% of employees in the Iraqi banking sector, In line with the recommendations of the International Monetary Fund. It is noteworthy that the banking system in Iraq consists of (54) banks as well as the Central Bank and is distributed by ownership among (7) government banks and (23) commercial banks, including (9) Islamic banks in addition to (15) branches of foreign banks.

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