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Iraq imports "solutions to the crisis" instead of the white paper: government is forced to contract

rocky: NNP TEAM; Posts : 202287
Join date : 2012-12-21

Post n°1

Iraq imports "solutions to the crisis" instead of the white paper: government is forced to contract

by rocky Fri 23 Oct 2020, 8:33 am

[size=30]Iraq imports "solutions to the crisis" instead of the white paper: government is forced to contract with "foreigners" ... dispensing with thousands of government advisors!

2020-10-23
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Yes Iraq - Baghdad
The economic expert, Nabil Al-Marsoumi, explained Iraq's meetings with several European countries and bodies to discuss its economic crisis and the course of implementing the White Paper for economic reform.
Al-Marsoumi wrote, in his blog, that "Iraq imports solutions to confront the financial crisis."
He added: It was announced in London the establishment of an international financial alliance under the name “The Economic Contact Group, which includes 7 foreign and Iraqi financial institutions, to provide advice to the Iraqi government to confront the stifling financial crisis.
He continued: The financial alliance will aim to stimulate international support for a 3-year urgent economic reform program at a cost of 6 million pounds sterling, provide global expertise to achieve economic growth, provide international expertise from the public and private sectors to enhance economic stability in Iraq and introduce vital economic changes to drive growth.
He continued: The International Financial Alliance to support Iraq includes: America, Britain, Japan, France, Germany, Canada and Italy, in addition to the International Monetary Fund and the World Bank, and from Iraq includes the Ministry of Finance, the Central Bank of Iraq and the Parliamentary Finance Committee.
Al-Rasoumi explained: The establishment of this alliance means the ineffectiveness of the advisory body in the Council of Ministers and the economic staff in the Ministries of Finance and Planning and its inability to find effective solutions to the current financial crisis, in addition to the fact that the Iraqi government is forced to contract with foreign authorities to import solutions like the rest of the goods that we import from Abroad, despite the government's release of its white paper, which it sees as an important reform recipe to alter the paths of the Iraqi economy.
In another post, Al-Marsoumi described the Iraqi economy, saying: The Iraqi economy can be described as a spoon economy that is based on selling and eating or on the principle of hand to mouth without any real economic process that produces goods and services and provides job opportunities.
Meanwhile, Minister of Finance Ali Allawi said that the white paper received absolute support from the industrialized countries and international organizations for the first time, indicating that the international support and welcoming the white paper is an achievement of the Ministry of Finance.
He added that “international organizations saw that Iraq faces daunting economic challenges overshadowed by the Corona crises and low oil prices, and that the White Paper is an ambitious program for comprehensive economic reform, strengthening the growth of the private economy and protecting the most vulnerable groups.
He pointed out that the industrialized countries and international organizations announced their support for the Iraqi government's vision of reform not only to ward off the current crises, but to create permanent economic opportunities for the Iraqi people that meet their aspirations.
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