[You must be registered and logged in to see this image.]Government adviser: Iraq will pay dues oil companies in installments not to exceed one billion dollars a month BAGHDAD / long-Presse
Affirmed the financial advisor to the prime minister, on Monday, to prepare the credit agreement with the International Monetary Fund, included suitable for the reimbursement of the international oil companies operating inIraq settlement, noting that it would be paid in the form of premiums from the general budget, not to exceed one billion dollars a month. He said the appearance of Mohammed Saleh in an interview with (long - Presse), that included "Stand -By Agreement with the IMF , the subject of the reimbursement of foreign oil companies operating in Iraq and find appropriate settlement , " adding that "the oil ministry embarked on a mechanism for the payment of those dues to ensure that no delay." Saleh added , that " the benefits the development of the oil fields would be paid in the form of premiums from the general budget, not to exceed amounts of onebillion dollars per month, and complete end of the year according to the agreement , " noting that it "includes taking into account a period of grace to be held accountable usually extend for four months." Saleh continued " the recent increase in oil prices to below $ 50 a barrel will not delay the implementation of reforms launched by the Prime Minister." and on the other requests of the international Monetary Fund, Saleh stressed that "the Fund requirements and approved by the cabinet at its meeting last Tuesday, ( the seventh of June current 2016), through the adoption of economic and financial policies that have been reached between the parties on according to the initial agreement between the two note ", and added that" the ratification of the agreement between the parties will be by the board of Directors of the end of June this to become effective. " He said the economic advisor " the economic reforms required by the IMF include a tax increase in electricity charges and improve banking supervision level to fight corruption and money laundering , " and that " the reforms require adjusting work in government institutions and a review of government employees bloated salaries accounts to eliminate the phenomenon of granting the salaries of those who do not perform their duties in thecorrect. " he was the financial advisor to the Prime Minister, the appearance of Mohammed Saleh, revealed in (27 May 2016), for Iraq , for" " an international financial umbrella estimated at approximately 20 billion dollars. and knows the international Monetary Fund that, a specialized agency of the system Bretton Woods of the United Nations, was established under an international treaty in 1945 to work on enhancing the safety of the global economy, and is based in Washington DC, and managed by the members include almost theirnumber of 188 countries all countries of the world. the Finance Minister Hoshyar Zebari announced, in ( the 19 of May 2016), to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, while the loan will allow securing additional financial assistance to reach about $ 15 billion over the next three years, Governor of the Central Bank of Iraq, on the Keywords confirmed that interest annual of the loan up to 1.5 percent. Iraq had announced (13th January 2016), for 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 at the end October 2015 the past, to 43 billion during the current year. It seeks member of the Organization of Petroleum exporting countries Iraq (OPEC) to seek support for its budget from the international community after shrinking revenues due to the oil price collapse two years ago which led to the widening budget deficit and delayed benefits companies exchange producing crude.