Parliamentary finance: Fouad Hussein broke the law by borrowing 200 million dollars
The Finance Committee of the Parliament confirmed that the [url=https://www.thebaghdadpost.com/ar/Story/t/211/%D9%88%D8%B2%D9%8A%D8%B1 %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9]Minister of Finance[/url] Fouad Hussein broke the law after borrowing 200 million dollars from the World Bank, indicating that the federal budget law of 2019 included in its paragraphs not to resort to external borrowing to reduce external debt.
"The House of Representatives will be hosted by Finance Minister [url=https://www.thebaghdadpost.com/ar/Story/t/7428/%D9%81%D8%A4%D8%A7%D8%AF %D8%AD%D8%B3%D9%8A%D9%86]Fuad Hussein in the[/url] presence of the representative of the government during the coming sessions to guide the parliamentary questions on his resort to external borrowing," said the committee member Haneen al-Qaddo . "Hussein broke the law by borrowing 200 million [You must be registered and logged in to see this link.] from the World Bank."
He added that "these funds will be a heavy burden on the government because the financial benefits are large and this harm to the Iraqi economy," noting that "the Minister of Finance is not forced to resort to external borrowing and could resort to internal borrowing."
He explained that "the federal budget law of 2019 guaranteed to oblige the government not to go towards external borrowing to reduce the external debt of Iraq."
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