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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    IMF agrees to lend Iraq $ 5.4 billion

    Rocky
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    • Post n°1

    IMF agrees to lend Iraq $ 5.4 billion Empty IMF agrees to lend Iraq $ 5.4 billion

    Post by Rocky Sat 21 May 2016, 3:45 am

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    IMF agrees to lend Iraq $ 5.4 billion


     Baghdad / long-Presse 

    Finance Minister Hoshyar Zebari, to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, and while noting that the loan will allow secure financial assistance of up to $ 15 billion over the next three years, revealed the financial advisor to the Prime Minister, that the approval of the Fund cash to lend to Iraq stipulated reduce overhead by about 13 trillion dinars and the placement of "senior staff" allocations to the income tax.
    Said Finance Minister Hoshiyar Zebari, during a press conference held in the Jordanian capital, Amman, and I followed (the long-Presse), said that "Iraq reach a loan agreement under demand worth $ 5.4 billion with the International Monetary Fund."
    Zebari said, that "the agreement that would allow Iraq to secure additional financial aid, worth around $ 15 billion over the next each of the three years in the form of international bonds," adding that "the Agreement is subject to reduce the deficit in the budget for Iraq and other measures," did not reveal about her.
    For his part, Governor of the Central Bank of Iraq, on the Keywords, during a press conference, "The loan would be an annual interest rate of 1.5%," without mention conservative to the term of the loan.
    In turn, counting the head of the IMF mission to Iraq, Christian Gooch, during the conference, that "the agreement is an important first step that could give confidence to other donors to provide more funding."
    The agreement still needs the approval of the Board of the International Monetary Fund, which will meet in June.
    Iraq plans to a senior member of the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for oil prices, which will increase the current budget deficit of 24 trillion dinars.
    In turn, the financial advisor to the Prime Minister revealed the appearance of Mohammed Saleh, the approval of the International Monetary Fund for lending to Iraq required a reduction of the general budget of about 13 trillion dinars expenses and the placement of "senior staff" allocations to settle the dues of oil companies income tax, and pointed out that the conditions also included the exception of the armed forces and junior staff of the income tax provisions, as he emphasized that the loan will open the door for loans from industrialized nations worth more than $ 15 billion.
    A financial advisor to the Prime Minister, the appearance of Mohammed Saleh, in an interview with (long-Presse), said that "the agreement with the IMF on Iraq for a direct loan from the Fund valued at $ 5.5 billion, went toward cost-cutting in the public budget for the current year by about 13 trillion dinars, without prejudice to the ration cards and a network of social welfare and affairs of the displaced. "
    Saleh added that "the Fund to impose conditions on the Iraqi side in exchange for the loan, including the control of the Integrity Commission and the Office of Financial Supervision and devices anti-money laundering in financial transactions, in addition to the settlement of dues of oil companies and avoid the accumulation of dues," he said, adding that "the International Monetary conditions are also included subjecting the entire income and allowances of senior staff to the income tax, and the exclusion of the armed forces and junior staff of the income tax provisions. "
    Saleh revealed that "the benefit of this loan does not exceed 1.5% per annum and for a period to allow more than two years, exempting from the payment, to be repaid over five years from the date collected and according to the semi-complex mechanism," she returned to "the loan will open the door for industrial nations (G7) to lend Iraq amounts of up to $ 15 billion, and favorable terms. "
    The Committee on the economy and parliamentary investment promised on Monday (May 16, 2016), the demands of the International Monetary Fund of Iraq to agree to lend him "do not constitute conditions" but a vision to address the economic crisis being includes a reduction in spending and focus on productive sectors to enhance budgetary resources.
    It is said that Iraq declared in the (13th January 2016), the approval of the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, indicating that this means reducing those reserves from $ 59 billion the end of October 2015 the past, to 43 billion during the current year.
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