the minister of finance and the governor of the central bank review options for entering the imf pro

by **Rocky** Sat 18 Apr 2020, 3:39 pm

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the minister of finance and the governor of the central bank review options for entering the imf pro

by Rocky Sat 18 Apr 2020, 3:39 pm

[size=40]the minister of finance and the governor of the central bank review options for entering the imf program and requesting external loans
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by **Rocky** Sat 18 Apr 2020, 3:42 pm

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The Finance and Central Bank are studying the option of requesting external loans to cross the stage

by Rocky Sat 18 Apr 2020, 3:42 pm

[size=36]The Finance and Central Bank are studying the option of requesting external loans to cross the stage[/size]

Economy | 10:34 - 18/04/2020

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Baghdad - Mawazine News

The Deputy Prime Minister and Minister of Finance Fuad Hussein held an expanded meeting in the presence of the governor of the Central Bank, the undersecretary of the Ministry of Finance and general managers of the Rafidain and Rashid and Iraqi banks for trade and customs and tax authorities and the public debt department to discuss the economic and financial situation in order to secure the needs of the government.
The Finance Ministry statement said that the minister "reviewed the recent OPEC agreement and the decision to reduce the shares of the global oil market and reduce approximately one million barrels per day of the share of Iraq and the implications of that decision, especially with the collapse of the current oil prices and how to overcome these obstacles and cross the current stage."
On the other hand, Al-Alaq indicated that "the necessity of maintaining the continuity of the banking system and balances, and the need to analyze data to obtain information about these balances, whether they are self-financing or central."
It also reviewed the above-mentioned banks.
The meeting also discussed "options for entering the IMF program and requesting external loans as one of the options that the current government can take to cross the stage
. The statement went on to discuss the necessity of reviewing the tax exemptions that were granted previously with the exception of organizations and humanitarian agencies whose goods are gifted to the government." .

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by **Rocky** Sat 18 Apr 2020, 3:55 pm

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Iraq is studying the option of external borrowing to face the crisis of low oil prices and Corona

by Rocky Sat 18 Apr 2020, 3:55 pm

[size=30]Iraq is studying the option of external borrowing to face the crisis of low oil prices and Corona
[ltr]04/18/2020 10:45:17 PM[/ltr][/size]

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[size=20][size=20]Baghdad - people
Finance Minister Fouad Hussein held, on Saturday, an expanded meeting with the presence of a number of parties concerned, to discuss the file of the recent OPEC agreement and its effects on the country's economy.

A statement to the media office of the Deputy Prime Minister for Economic Affairs and Minister of Finance Fuad Hussein, "People" received a copy of it, today (April 18, 2020), The Ministry of Finance and general managers of the Rafidain, Rashid and Iraqi banks for trade, customs and tax authorities and the Public Debt Department to discuss the economic and financial situation in order to secure the government's needs. "
The statement continued, "The Finance Minister Fuad Hussein reviewed during the meeting, the recent OPEC agreement and the decision to reduce the global oil market shares and the reduction of approximately one million barrels per day of the share of Iraq and the implications of that decision, especially with the collapse of current oil prices and how to overcome these obstacles and cross the current stage."
He added, "The relationship, for its part, stressed the need to maintain the continuity of the banking system and balances and to the need to analyze data to obtain information about those balances, whether it is self-financing or central."
He pointed out that "the banks referred to above have also reviewed their assets and capabilities in order to contribute to strengthening the current economic and financial reality, as well as touching on options for entering the IMF program and requesting external loans as one of the options that the current government can take to cross the stage."
The statement concluded, "The necessity of reviewing the tax exemptions that were granted previously with the exception of humanitarian organizations and whose goods are gifted to the government were also discussed."
Representative Alia Nassif joined, earlier, the team of critics of the oil agreement, confirming that the government of resigned Prime Minister Adel Abdul-Mahdi does not have the powers to cut production.
Nassif said in a statement, "People" received a copy of it, (15 April 2020) that "the decision to reduce Iraq’s oil production by one million and 61 thousand barrels per day, which is twenty-three percent of the total production, has catastrophic repercussions on the Iraqi economy and will pay its tax to the citizen who does not It has strength, because the Iraqi economy depends on oil exports only after issuing death certificates for agriculture, industry and the rest of the sectors that died due to corruption and neglect.
A member of the State of Law coalition asked, "Who authorized the caretaker government to take such a decision with this level of risk to the Iraqi economy?"
She added, "It was assumed, at the very least, that we ask OPEC to wait in this procedure while Iraq is recovering from the emergency that we are witnessing today, especially since the rest of the countries will not be affected a lot because they also depend on industrial and agricultural exports, the tourism sector and others, and not like Iraq, which depends only on Oil. "
Nassif indicated, "The caretaker government does not have the right to risk the power of the people by taking a disastrous decision by concession whereby we waive a quarter of production and share what is worth a tenth of what was ceded by all OPEC countries, and therefore we must withdraw from this agreement and never implement it in the current circumstance."
nas
And Oil Minister Thamer Al-Ghadban stressed, earlier, that OPEC's decision to reduce production is binding on all, without Iraq having volunteered to reduce its production.
Al-Ghadban said in a statement to the official agency, followed by "Nass" (15 April 2020) that "Iraq will start reducing its oil production by 22.8% as of May 1, in implementation of the last agreement in OPEC," noting that "the reduction rate applies to all OPEC countries" without exception".
He added that "the financial resources are more important than the amount of oil production, and that the reduction was based on studies in order to increase the price of oil, so whenever the supply decreases and the market stabilizes, the price improves," denying "the news that Iraq has volunteered to reduce its oil production."
The Minister of Oil stated that "there is no benefit in increasing production with low selling prices, and thus everyone will be a loser." He stressed that "the measures taken by OPEC aim to increase the price of a barrel and then increase the financial return."
Al-Ghadban pointed out that "Iraq’s share in OPEC production includes production from the Kurdistan region", adding that "a delegation from the Kurdistan region will arrive in Baghdad to discuss the reduction after contacts made during the past days."
nas
In the same context, the head of the Parliamentary Energy Committee, Hebet al-Halbousi, earlier accused the Iraqi delegation participating in the OPEC meeting of working for non-Iraq, describing it as "bad."
Al-Halbousi said in a post, seen by “NAS” (April 14, 2020), that “Iraq is losing everything in the last OPEC meeting, and it is the second producer in OPEC and founder.”
Al-Kouloussi added, "Iraq agreed to reduce one million barrels per day, and it desperately needs one additional barrel. Even in congratulations and words of praise and thanks, Iraq did not get one of them."
Al-Halbousi concluded his post with the tag "This is the End".
Earlier, a member of the Construction Alliance, Muhammad Shi'a Al-Sudani, called on the government to wait in the OPEC agreement.
Al-Sudani said in a post that “Nass” (April 14, 2020) followed, “I invite the brothers in the Presidency of the Council of Ministers to wait to agree on the recent OPEC agreement (which is to waive a quarter of Iraq's revenues without consideration).”
He continued, "The agreement harms the economic situation of the country, and he suggested referring the matter to specialized committees to study the effects of this decision."
nas
And the Minister of Oil, Thamer Al-Ghadban, announced, earlier, the amount of Iraqi oil production reduction in accordance with the OPEC + agreement.
Al-Ghadban said in a statement, followed by "Nass" (April 13, 2020) that "the countries agreed to reduce 23 percent of their oil exports, and this represents for Iraq 1.06 million barrels of oil per day, including those in the Kurdistan region (North)."
And several oil countries in the (OPEC +) alliance announced on Sunday the completion of an agreement for the largest studied historical reduction in crude oil production by 10 million barrels per day, of which the alliance bears 9.7 million barrels per day.
The agreement includes reducing the oil production by the alliance by 9.7 million barrels per day, and 300 thousand barrels per day, American oil companies said they would reduce on their part. And by 300 thousand barrels, the share of American companies was supposed to be the share of Mexico, which rejected the alliance's decision to reduce its production by 400 thousand Barrels per day, and confirmed that it will reduce production by 100 thousand barrels per day.
The decision to reduce begins as of the beginning of next May for a period of two consecutive months, followed by another agreement to reduce production reduction to 8 million barrels per day until the end of 2020. A third reduction in production begins by 6 million barrels per day, which is two million barrels less compared to the previous agreement. For him, it starts from early 2021 until April 2022.

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the minister of finance and the governor of the central bank review options for entering the imf pro

the minister of finance and the governor of the central bank review options for entering the imf pro

The Finance and Central Bank are studying the option of requesting external loans to cross the stage

[size=36]The Finance and Central Bank are studying the option of requesting external loans to cross the stage[/size]

Iraq is studying the option of external borrowing to face the crisis of low oil prices and Corona

Re: the minister of finance and the governor of the central bank review options for entering the imf pro

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