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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Expert calls for the government to cooperate with the World Bank and the IMF

    Lobo
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    • Post n°1

    Expert calls for the government to cooperate with the World Bank and the IMF Empty Expert calls for the government to cooperate with the World Bank and the IMF

    Post by Lobo Sun 05 Jul 2015, 3:03 pm

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    BAGHDAD / Amer Mohi 
     
    , Confirmed the investment committee and the economy parliamentary, on Friday that Iraq is forced to borrow money from international institutions because of the financial crisis as a result of lower oil prices, while confirming that the investment projects will be completed only by borrowing, an expert in the matter of economic called on the Iraqi government to " Go to the international community and a commitment to its criteria out of the crisis, noting that "cooperation with the World Bank and the IMF provides an opportunity to adjust the economy and the general budget and external account.
     
    He said committee member economy parliamentary Najiba Najib told the "term" that "the Ministry of Finance took the legitimacy to take loans from the International Monetary Fund and the World Bank under the federal budget for 2015, but it has the right in this matter," asserting that "Iraq choosers him only borrow to be able to implementation of its projects. " 
    She said Najib that "borrowing in Iraq is happening now two types, the first to borrowing for investment projects which got through to borrow $ 1.7 billion by the Ministry of Finance and this is its benefit to the Iraqi economy because it would in the future be of benefit." 
    It showed that "Iraq sometimes borrow for consumption and this is not useful, because the money Almkarodh go without any interest, and this thing is with the drop in oil prices and the need for Iraq to money to cover wars and salary expenses." 
    She pointed out that "the problem is the need for Iraq to 5 billion per month for salaries of staff, as well as employment in every year, reaching appointments to 60 thousand degrees in the Oil Ministry, with the knowledge that there is a large surplus in most of the ministries. " 
    confirmed member of the Committee that "the other problems facing Iraq, the battle against al-Daash, as well as the control of the organization Daash the Baiji refinery, which constitutes a large percentage of Iraqi oil and the things that has made ​​Iraq borrow to fill the need for projects or consumption. " 
    She suggested Najib said "be there for the Iraqi economy a real plans Unlike previous years, which saw lethargic in energy projects or the economy, because Iraq in the event does not have such projects, the economy would go down and continue to borrow as oil prices remain at this price. " 
    For his part, says an expert on economic affairs Maitham coffee in a statement to the "long", "World Bank loans are usually accessible from in terms of benefits and times of payment, in addition to it it is Grod development and for the reconstruction and construction. " 
    He added Laibi by saying that "in Iraq in light of the budget crisis, it need such resources, especially as the investment budget semi-parked, and that these loans are usually conditional to conduct a series of reforms in the field of rationalization of expenditure and financial management. " 
    He continued, head of banking and finance at the University of Mustansiriya that "Iraq needs to go back to the international community and a commitment to its criteria to get rid of emergency crises, especially as the Bank and the Fund and cooperation with them provides an opportunity for Iraq to adjust its economy and its budget and account outside, the Bank also has the expertise and allows the provision of studies represent an early warning of the economic system. " 
    The Ministry of Finance, the first of Thursday, the World Bank's intention to provide a loan to Iraq worth $ 1.7 billion, as pointed out the allocation of $ 350 million from within The loan to the reconstruction of the liberated areas of the organization "Daash operations." 
    the ministry said in a statement that "Finance Minister Hoshyar Zebari discussed with Iraq program manager Robert existence and the World Bank team of experts and specialists in the economy and the implementation of development programs, plans and programs of the bank to provide a loan for Iraq humanitarian and development of the proposed aid. " 
    She added that "due to the World Bank offers a loan of $ 1.7 billion," indicating that it is "within the amount billion dollars as international policy and $ 350 million for reconstruction and stability to the liberated areas of Daash loan, and 350 million dollars for the project through Umm Qasr - Basra. " 
    She pointed out that "the government will take a series of reform measures in a number of economic facilities to avoid wastage and the rationalization of expenditure." 
    The World Bank Group President Jim Yong Kim has said, in the (April 17, 2015), support full Bank of Iraq in the face of economic and financial challenges, as pointed out that the bank will contribute to the financing of urgent projects related to the liberated areas, during a meeting with Prime Minister Haider al-Abadi.
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