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Consensus on the employment of foreign loans development projects
9/22/2016 0:00
[rtl]So as not to be a burden on future generations
BAGHDAD / Hussein Tgb / Farah pumice
met views of economists on external borrowing when the need to be coupled withlending operation plans developmental employs borrowed funds projects productivity covers profits to repay the loan and create development institutions contribute to themultiplicity of revenues and the creation of a healthy economy.
He discussed the Minister of Planning Salman Jumaili envoy British Prime Minister for trade , Baroness Emma Nicholson , executive director of the Council of Iraqi - British businessman earlier this week to give Iraq a loan of 10 billion pounds more than ($ 13 billion).
feasibility study
specialist in economic affairs Abdul Hassan Shammari in an interview «morning» said that external borrowing is normal between the countries of the world and happen agreement between the State and another , or between the state of global financial organization, and the consequences of this loan financial benefits of a pre - agreed, pointing to the importance that there will be a feasibility study by the competent shows how interest realized from the adoption of borrowing decision.
He pointed to the need to be directed loans developmental pathways that contribute tothe creation of financial returns covering the amount of loans during the time period and the resulting productivity institution or service continues to support the national economy, so we have walked through the real development and have reached a multi - resource economy based on our own and external borrowing , such as a positive step in such asituation.
He praised the Iraqi - British dialogue on discussing the subject of lending to Iraq nearly $ 13 billion, and he called to be a loan paths towards sustainable development.
There are views of some economists do not favor the trend to embrace the idea a lot of external debt because it represents a burden on future generations in the absence ofinvestment of the wealth of Iraq manner that achieves a comprehensive economic discharge of .
service economy
turn the relevant affairs of economic described Ahmed Sumaidaie that external borrowing is important at this stage in which the country is suffering from financial hardship, pointing out that the loan amount , whether from Britain or the state of world finance organization must be hired to serve the economy through the activation of the productive sectors.
he pointed out that the subject of investment loans must be kept in the priorities of thegovernment 's work and is based on the specialized committees of the public and private sectors for the purpose of specialization place that achieves development sustainable.
according to the Ministry of planning, the there are more than four thousand investment project can be a part of this loan by agreeing on a future partnership with the local private sector projects or foreign after it is put the right mechanisms in this area.
the financial expert Thamer al - Azzawi was praised to borrow from Britain steps, pointing to the importance of making use of its own security and directed towards investment and is not cashed within the operating budget, especially as the loan would be the
benefits.
He called al - Azzawi government to the length of the loan long repayment term included with the lack of agreement on the terms of hurting the Iraqi economy, urging the loan segmentation in the form of payments, as the financial crisis is «emergency» and is overcome as soon as the stability of the sale of crude oil prices in world markets, and it can take part of the loan and cancel the rest so as not to be a great value and reflected negatively on the future plans of the government.
team
also urged al - Azzawi on the formation of a working group that includes representatives from government economists and observers from the private sector in collaboration with the integrity Commission to oversee the disbursement of the loan process and service investment projects of importance
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