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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

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    Al-Abbadi financial advisor: Agreement with the IMF forces the government to "adhere to the exchange

    Rocky
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    Al-Abbadi financial advisor: Agreement with the IMF forces the government to "adhere to the exchange Empty Al-Abbadi financial advisor: Agreement with the IMF forces the government to "adhere to the exchange

    Post by Rocky Sat 03 Feb 2018, 2:24 am

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    Al-Abbadi financial advisor: Agreement with the IMF forces the government to "adhere to the exchange"


    The Financial Advisor to the Prime Minister said that the vision of the International Monetary Fund is forcing the government to "adhere to the disbursement", after Iraq was exposed to a financial crisis since 2014, which resulted in internal and external debt, which must be paid on a long-term basis.
    "Iraq has an agreement with the International Monetary Fund (IMF), which has been in effect since July 2016, under which Iraq will receive international support from the IMF, the World Bank, or from the IMF member states, . 
    "The international financial community estimated the financial gap in Iraq between 2016-2019 at about $ 18 billion, funded from external sources, and the International Monetary Fund is responsible for bridging the deficit gap," he said. 
    The International Monetary Fund decided to grant Iraq a loan (STAND BY), which grants it in case of actual need, but within several requirements and conditions, most agree with the reform program of the government, according to the source who confirmed that «the Fund conducts reviews (3 to date) Months, and until the last review before the Executive Board of the Fund, must approve the budget for 2018 ».
    "The IMF has a vision on the budget, including setting the spending ceiling, by preparing a long-term (financial sustainability) plan for Iraq, including two directions; to address any drop in revenues, whether oil or non-oil, Accumulation of debt ». 
    Saleh pointed out that «there is an international financial incubator to protect Iraq, as the international coalition (military), which provided assistance to Iraq», stressing the importance of «Iraq does not lose the respect of the international community us, through demands do not lead to a result, , Is the Kuwait conference, how can Iraq go to the conference and understand with donor countries and he was unable to approve his budget? This is a very negative signal, and therefore the budget must be approved before the Kuwait Conference ».




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