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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


    Specialists warn of worsening debts of foreign loans and the need to move towards maximizing resourc

    Rocky
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    • Post n°1

    Specialists warn of worsening debts of foreign loans and the need to move towards maximizing resourc Empty Specialists warn of worsening debts of foreign loans and the need to move towards maximizing resourc

    Post by Rocky Thu 19 Oct 2017, 2:02 am

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    Specialists warn of worsening debts of foreign loans and the need to move towards maximizing resources in the budget next year(WB)


     Baghdad / Fadia Al-Jawari 

    The resort of Iraq to international loans did not come arbitrarily, but the urgent need after the difficult economic circumstances and challenges, most notably the decline in oil prices in the world and the war on the terrorist's calling, which cost more than 40 billion dollars.
    This logic has been addressed to the International Monetary Fund and the World Bank and Iraq entered into an alliance and an agreement called credit arrangements known as the (SBA), which impose precise obligations and conditions, but is consistent with the requirements of economic reform, which we seek to improve financial performance and strengthen financial governance and control in the work of the Central Bank Through the amendment of its law, and control in the accounts of the State and the management of cash flow, and amend the Financial Management Act and amend the Commission on Integrity and the prosecution and recovery of fugitive funds. 
    The economic adviser to the Prime Minister, the appearance of Mohammed Saleh, on Wednesday, Iraq received 4 billion dollars from international institutions supporting 
    Saleh said in a statement to (range) that "the negotiations of the Iraqi government with the International Monetary Fund has led to grant Iraq $ 2 billion dollars during the past 18 months" .
    Saleh added that "the IMF pledged to pay $ 5.5 billion over a specified period of time, in addition to receiving a loan of two billion dollars from the World Bank for a total of 4 billion dollars." 
    "The continuation of negotiations between the Iraqi government and the International Monetary Fund has led to positive results, especially in the process of tightening the federal budget and its focus towards important economic points, noting that" Focused on reducing the fiscal deficit resulting from the almost total dependence on oil resources financial without activating other resources. "
    For his part, said the academic and economist Abdul Rahman al-Mashhadani that Iraq and until recent months, the cost of his war against a dodger of $ 40 billion, and the budget of 2017 estimated at 100 trillion dinars, if calculated 40% of the cost of war, we have about 40 Billion dollars and spent nearly 20 billion dollars for the current year only on the war and this figure exaggerated
    He added that "this year is a more stable year for the economic situation because the state entered into a state of austerity and rationing in its expenses, in addition to that the military operations ended against the victory, and cut a great deal of liberalization, and therefore we need payments by Supporting international institutions such as the International Monetary Fund or the World Bank. " Mashhadani continued that the next budget for 2018 is a bit different from the previous budgets, because it includes planning and follow-up accurate before the approval at the beginning of next year, but still the operational budget is the largest part, and still rely on external debt because of low oil prices to about $ 51 per barrel, And Iraq sells up to 48 dollars, "pointing to the rise in public debt next year, because of the survival of the government on the current mechanism itself in the financing of the budget, and there will be issuance of treasury bonds
    He pointed out that Iraq continues to borrow external, especially from the International Monetary Fund, to complete the process of lending is scheduled, which took nearly five billion dollars out of 18 billion dollars of international commercial banks, which guarantees those loans the World Bank, pointing out that the budget for next year non - conservative 
    al - Mashhadani between the state began steps correctly to maximize resources, through the re - activation of laws, tax and Alcomerk, these constitute a revenue of more than four or five times the previous revenue Keradat customs and tax, more than $ 10 billion, while it was not a billion and a half of the Billion dollars, and we expect to reach revenues of customs for the current year to nearly $ 7 billion, and next year will increase to $ 10 billion.
    The economic expert said that the negative impact of the ongoing borrowing from the International Monetary Fund will lead to serious economic problems because of its dealings with government agencies strictly 
    on the application of economic programs according to a certain mechanism, as these workshops need the support of international organizations for the work of international reports as well as the work of organizations volunteer inside Iraq and not the monopoly of economic reform. " 
    and called for the international Monetary Fund and the World Bank to expand its base and its cooperation with the Iraqi private sector Iraqi economic figures to reach great economic goals 
    mentioned that the Minister of Finance agency 's father Tor Abdul Razzaq Al - Issa revealed earlier in the readiness of the World Bank to allocate nine million dollars to support investment and development in the field of associated gas
    Al-Issa said during the spring meetings of the International Monetary Fund and the World Bank in Washington that the Iraqi government will intensify the work of the Joint Committee between the ministries of finance, electricity and oil to activate the investment of gas associated with the use of electricity in the operation of electricity projects, pointing out the World Bank's readiness to provide a grant of nine million dollars to support projects and studies For the associated gas investment in Iraq. The Ministry of Finance pointed out in a statement that the representatives of the World Bank pointed out that economic reforms are a major necessity to reach an integrated system to manage the financial process of the state at the federal and local level, 
    adding that the participants pointed out that the important proportion achieved by Iraqi institutions in this area gives the appropriate room for the World Bank to support Budget and reconstruction projects within the time limits achieve their objectives required
    The Bank welcomed the steps taken by the Iraqi Government in the area of ​​resource management and the crystallization of reform visions in coordination with international financial organizations and institutions 
    . The World Bank affirmed that Iraq is the most important country in the region and that its support will continue to overcome the crisis. The Vice President of the Middle East and North Africa, Hafez Ghanem, , earlier that the World Bank is committed to Iraq to provide the financial requirements imposed by the reconstruction in the liberated areas of operations that 
    explained the World Bank team that the reconstruction of those areas and accelerate the pace of implementation will establish continuous support in the light of what you need and diagnose The Iraqi government desperately needs.



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