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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto

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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto

Post by rocky on Sun 04 Aug 2019, 3:17 am

The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

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The International Monetary Fund urged the Iraqi government to reduce subsidies on the electricity sector, and protect the poorest and least-income groups, while recommending the need for comprehensive reform of the banking sector.
"The Executive Board of the International Monetary Fund concluded the Article IV consultations with Iraq," the central bank said in a statement, noting that "the Council felt that the improvement in the Iraqi economy is encouraging, but acknowledged the serious challenges that still face the country."
"Council directors have urged that we take advantage of improved security and higher oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability and addressing long-standing social problems," he said.
"Building a strong framework for public finances is necessary to maintain fiscal and macroeconomic stability and to strengthen safety margins," the IMF said, adding that it supports "gradually increasing spending on reconstruction and development in parallel to improving absorptive capacity."
"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. " 

The IMF called for "a comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure large state-owned banks, strengthen their supervision and implement other reforms to increase financial intermediation activities." 
Iraq faces several challenges, including the unstable security situation, which is heavily affected by investment in Iraq, in addition to [You must be registered and logged in to see this link.]  rent economy .



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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto

Post by rocky on Sun 04 Aug 2019, 3:26 am

[size=35][size=35]The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector[/size]
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"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. " 

The IMF called for "comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure and strengthen the supervision of large state-owned banks and implement other reforms to increase financial intermediation activities." 

Facing [You must be registered and logged in to see this link.]  , several challenges , including the security situation unstable, which influenced heavily on investment in [You must be registered and logged in to see this link.]  , in addition to the economy of [You must be registered and logged in to see this link.]  rentier.


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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto

Post by rocky on Sun 04 Aug 2019, 5:07 am

The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

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The International Monetary Fund urged the Iraqi government on Sunday to reduce subsidies on the electricity sector, and protect the poorest and least-income groups, while recommending the need for comprehensive reform of the banking sector.
The Central Bank said in a statement received by the "Economic News" a copy of it, "The Executive Board of the International Monetary Fund concluded the article IV with Iraq," noting that "the Council saw that the improvement in the Iraqi economy is encouraging, but acknowledged the serious challenges that still face the country "He said.
"Council directors have urged that we take advantage of improved security and higher oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability and addressing long-standing social problems," he said.
"Building a strong framework for public finances is necessary to maintain fiscal and macroeconomic stability and to strengthen safety margins," the IMF said, adding that it supports "gradually increasing spending on reconstruction and development in parallel to improving absorptive capacity."
"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. "
The IMF called for "comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure and strengthen the supervision of large state-owned banks and implement other reforms to increase financial intermediation activities."

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Post by rocky on Sun 04 Aug 2019, 5:16 am

[size=35][size=35]The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector[/size]
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"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. " 

The IMF called for "comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure and strengthen the supervision of large state-owned banks and implement other reforms to increase financial intermediation activities." 

Facing [You must be registered and logged in to see this link.]  , several challenges , including the security situation unstable, which influenced heavily on investment in [You must be registered and logged in to see this link.]  , in addition to the economy of [You must be registered and logged in to see this link.]  rentier.


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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty IMF calls on Iraq to cut subsidies on electricity sector and protect the poor

Post by rocky on Sun 04 Aug 2019, 7:08 am

IMF calls on Iraq to cut subsidies on electricity sector and protect the poor
The International Monetary Fund (IMF) urged the Iraqi government on Sunday to cut subsidies on the electricity sector and protect the poorest and least income groups, while recommending the need for a comprehensive reform of the banking sector.
The Central Bank said in a statement received to the obelisk, "The Executive Board of the International Monetary Fund concluded consultations Article IV with Iraq," noting that "the Council felt that the improvement in the Iraqi economy is encouraging, but acknowledged the serious challenges still facing the country." 

He added, "Directors in the Council urged to seize the opportunity to improve the security situation and high oil prices to implement policies and structural reforms aimed at ensuring macroeconomic and financial stability and address long-standing social problems." 

"Building a strong fiscal framework is essential to maintain fiscal and macroeconomic stability and enhance safety margins," the IMF said, adding that it supported "a gradual increase in spending on reconstruction and development in parallel with improved absorptive capacity." 


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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty The Executive Board of the International Monetary Fund concludes the Article IV consultations of 201

Post by rocky on Sun 04 Aug 2019, 7:10 am

The Executive Board of the International Monetary Fund concludes the Article IV consultations of 2019 with Iraq


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» The Executive Board of the International Monetary Fund concluded on July 19, 2019 Article IV consultations with Iraq ... [You must be registered and logged in to see this link.] to view[You must be registered and logged in to see this link.]



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The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity secto Empty "International Monetary" demands Iraq to reduce spending on the electricity sector

Post by rocky on Mon 05 Aug 2019, 2:45 pm

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[size=52]"International Monetary" demands Iraq to reduce spending on the electricity sector[/size]

[size=45]The International Monetary Fund (IMF) has called on the Iraqi government to cut spending on the electric power sector as well as a comprehensive reform of the banking sector. 
The Central Bank of Iraq said in a statement on Sunday that the IMF "called for the opportunity to take advantage of improved security conditions and high oil prices to implement policies and structural reforms, which ensure economic stability." 
On July 19, the Executive Board of the International Monetary Fund (IMF) concluded its Article IV consultations with Iraq, indicating that current spending is expected to rise by 27 percent in 2019, year-on-year. 
The IMF said that the fund "stressed the implementation of the reduction of subsidies to the electricity sector .. It is a priority in the control of spending, and protect the poorest and the least income from vulnerability to financial controls." 
The Iraqi government supports the electricity sector in the country, benefiting the various segments of society in the domestic and commercial categories.
On April 30, the Iraqi government signed a contract worth more than 14 billion euros with the German company Siemens to develop the electric power sector in the country. 
Iraq has witnessed a deficit in the energy sector during the past years, despite the possession of reserves of oil and gas, which contributed to fuel public anger, especially in the south, last year. 
In another context, the fund called on the Iraqi government "to undertake a comprehensive reform of the banking sector in order to maintain financial stability, through the restructuring of large banks owned by the state, and strengthen control." 
Article IV of the IMF Agreement provides for bilateral discussions with member countries on public finances, strengths and weaknesses, and mechanisms for improving economic indicators.

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