[You must be registered and logged in to see this image.]Parliamentary Finance: the executive organ of the state needs to restructure Baghdad / Ibrahim Ibrahim
Parliamentary Finance Committee confirmed, on Monday, that the government machinery needs to be restructured in accordance with the financial resources of the country without resorting to external borrowing. The finance ministry announced for holding Iraq 's financial and economic talks with the International Monetary Fund in Amman, indicated that they have held talk in Iraq , the entry with the Fund in the credit policy arrangement (SBA). The finance committee member Majda al - Tamimi, in an interview for the "long", that " the executive organ of the state needs a comprehensive restructuring so that it corresponds with the financial resources of the country without resorting to borrowing money and dispensing random ways. " she added that" successive governments havewasted billions of dollars without achieving any results on the ground , touched citizen because of thecorruption that has become sadly prevalent in the culture of the society . " . She said Tamimi , " the budget deficit and the government 's lack of funds should not be offset by external borrowing , but must develop plans to restore citizen confidence in financial institutions to raise funds banks where the government can borrow them in accordance with the terms and specific benefits." for its part, the Ministry of Finance said in a statement, received "long" version of it, that "Iraq began on 27 March 28 in Amman , financial and economic talks with IMF experts," noting that " the Iraqi delegation representing the Finance and theGovernor of the Central Bank and the ministers of oil, planning and electricity minister, while part of the other side UNFPA senior expert representatives from the World Bank and representatives of the United States and JICA Japanese international development. " the ministry added that" the talks focused on a review monitor the Fund 's staff for economic and financial policy program for Iraq and the spending review policies and tomaximize revenue and reduce overhead unnecessary and procedures for the fiscal deficit . " . the ministry pointed out that "Iraq discuss Iraq 's entry with the Fund in the credit policy arrangement (SBA) , which qualifies Iraq to get financial loans from the Fund and financial institutions to support the Iraqi economy, as aresult of declining costs and requirements of confrontation prices with terrorism Daash and the need for Iraq to economic reforms to achieve the balance between expenditure and income and the fulfillment of theobligations of vital social state. " in turn, the economist said Mohammed Abdul Latif Al - Ani, in an interview for the " long "," the government is determined to put restrictions on the Iraqi economy by insisting on external borrowing to tackle the financial Haunted rampant. " he said "there are many ways the government can take without external borrowing, including reducing non - essential expenditures and borrowing from thegovernment and private banks as well as the activation of various internal taxes." He said al - Ani said "government borrowing funds from international institutions could not meet the fiscal deficit without taking to fight financial corruption real action and administrative rampant in various aspects of the state. " He said the " foreign loan funds do not clog only 3% of the budget deficit , which gradually began to rise as a result oflower oil prices in nearly two years. " He revealed the central bank governor on the Keywords, on March 23 2016 that Iraq will meet soon with the IMF to obtain a long - term loan, noting that from Iraq the right to be granted assistance and convenience when going through a crisis. he was an economic adviser to the prime minister the appearance of Mohammed Saleh said, Tuesday (06/01/2016), said that "Iraq consults constantly with the international Monetary Fund to get a crane to support the financial sustainability through soft loans, "returned to" the agreement itself is useful because it is an umbrella for Iraq give a signal to the international financial community to lend Iraq. " Saleh added, in an interview for the " long - Presse ", that" the cost ofthose loans is low and few benefits by about a year, and for a long time repaid , "noting that" Iraq has anagreement with the international Monetary Fund, spends his monitor the economic policy of the country. " he guessed adviser Abadi possibility of " turning the agreement with the Fund to a larger level, allows Iraq access to soft loans from the international Monetary Fund and the World Bank , "stressing that the" loans if they were going to go for development projects, particularly energy and important industries for the life of the Iraqi people. " Saleh said that" the international Monetary Fund under, among other conditions, the government expenses and amended some procedures relating to economic policy , "adding that" the government restricted their expenses mainly as a result of the crisis in the now. " Iraq has been going through a major financial crisis as a result of lower oil prices , which Iraq depends upon mainly reaching these prices, sometimes, to the low levels reached less from $ 30 per barrel.