World Bank loans will reflect negatively on Iraq

World Bank loans will reflect negatively on Iraq


Created on Wednesday, April 16 / April 2014 20:23

Net emphasizes the importance of supporting the International Finance Corporation to rehabilitate companies
Baghdad Constitution
Search and Minister of Finance Agency purity of net debt and the accompanying delegation in Washington with Vice President of the International Finance Corporation (one of the institutions of the World Bank), the financing of investors in Iraq. According to the Information Office of the net: that the two sides discussed during the meeting, the corporation's activities in Iraq by funding sector investors private, domestic and foreign. stressed Net importance of the foundation's approach to finance some public companies Iraqi rehabilitate and return activity productive so as to enhance the Iraqi economy. Meanwhile discussed and the Minister of Finance Agency purity of net debt with the World Bank Vice President denied Anderson, aspects of cooperation between Iraq and the World Bank in the field of project finance and capacity building. And Zkralmketb's media net: that the meeting focused on the Bank funded projects are included in the general budget for the year 2014 in addition to strategic projects other in Iraq, noting that denied expressed readiness of the World Bank to support Iraq in its efforts to development and reconstruction. Contrast, warned an economic expert peace Sumaisem, Ministry of Finance to borrow money from the World Bank, what constitutes that of a significant risk to the Iraqi economy, as saying. said that Iraq's budget does not need financial loans from the World Bank to bridge the deficit, the fact that the budget deficit by default and is not realistic, adding that international loans will be economy Iraq to significant risks it is difficult to fulfill all its international loans. explained Sumaisem that borrowing to cover the deficit and the way is difficult and dangerous, an issue that may clog the deficit temporarily, but its impact in the future and a tent, a way that is responsible in processing the economic deficit and further evidence on the mismanagement of economic resources in Iraq, signaling an economic policy that is rational. felt that the most important effects that may not be understandable to decision-makers is the weak bargaining position of Iraq with international organizations, particularly the World Bank specifically, as a result of these measures, pointing to the World Bank had finished his project of reform and restructuring of State-owned banks without achieving any little success, but added him falter and clear task management office restructuring and stumbled his performance., and expressed surprise at Tdhafaraghod some quarters parliamentary failure to approve the budget, and Msaratha to request an international loan to pay off the deficit, which is merely a supposed, Bhsab saying.

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Expert: World Bank loans will reflect negatively on Iraq


Posted 16/04/2014 06:03 PM

Baghdad / follow the Orient: - an economic expert warned Sumaisem peace, the Ministry of Finance to borrow money from the World Bank, so what constitutes a significant risk to the Iraqi economy, as saying.
She told the National Iraqi News Agency: "The budget for Iraq does not need financial loans from the World Bank to bridge the deficit, the fact that the budget deficit by default and is not realistic," adding that "the international loans will be Iraq's economy to significant risks it is difficult to fulfill all its international loans." Explained Sumaisem that "borrowing to cover the deficit and the way is difficult and dangerous, an issue that may clog the deficit temporarily, but its impact in the future and a tent, a way that is responsible in processing the economic deficit and further evidence on the mismanagement of economic resources in Iraq, signaling an economic policy that is rational."
They believed that "the most important effects that may not be understandable to decision-makers is the weak bargaining position of Iraq with international organizations, particularly the World Bank specifically, as a result of these measures," pointing out that "the World Bank had finished his project of reform and restructuring of State-owned banks without achieving any success but He troubled him clear to the task of restructuring the Office of Management and stumbled his performance. "
She expressed surprise at the concerted efforts of some parliamentary authorities not to approve the budget, and Msaratha to request an international loan to pay off the deficit, which is merely supposed to be, she says. The Minister of Finance Agency purity of net debt, announced last Sunday, that Iraq is preparing to offer a program of the World Bank purports it to get a loan to bridge the shortfall in the budget for the current year, while noting that there are talks with the World Bank to provide financial liquidity for projects if they are not provided by the government. It is noteworthy that there are differences between the governments in Baghdad and Erbil on some items of the federal budget for the current year related to the mechanism of the Kurdistan region to export oil, and these differences have caused disable approve the financial budget for the current year.

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