IMF to continue talks with Iraq and confirms the completion of his reform agenda through the years
Baghdad / Zahraa Hamid
the head of the IMF mission in Iraq , Christian Coconut, in an interview with (long - Presse), " the Finance Minister , Hoshyar Zebari , has been a champion of the program to prepare the credit with the Fund, as it was a major engine of reform in Iraq , " stressing that " the Fund 's programs and its agreements concluded with states rather than individuals, which means to continue talks with who will succeed Zebari in the Iraqi Ministry of Finance. "
he added coconut, that" the adoption of the Iraqi authorities , a program of economic reform is essential for the success of the Fund program (CNN NBA) , which will be implemented over several years , "and expressed his hope that" Iraq maintains the momentum of the program and made his first review during the mission meetings with the Iraqi authorities. "
the House of Representatives had voted during its meeting , which was held in the (22 September 2016), towithdraw confidence from the finance minister, Hoshyar Zebari, after 27 days of interrogation session, and adopted the "secret ballot", the same mechanism that the withdrawal of confidence which the Minister ofdefense, Khalid al - Obeidi during August.
and on the Fund for Iraq 's recommendations, confirmed coconut, to "prepare the credit program thatincludes periodic reviews, have been identified whereby the goals and expectations , " adding , "but can be modified during the periodic reviews by developments on the ground. "
Iraq had happened in July 2015, a payment equal to about one billion and 240 million dollars, through the " rapid financing "of the tool box.
acknowledges Iraq before mid - July 2016, about $ 634 million, representing installment the first of the IMF loan, immediately after the IMF Executive Board approval, in ( the seventh of this month), on the standby credit agreement with Iraq, noting that the loan term is five years , annual interest rate low of one and a half percent (1.5%), and the number payments are 13 batch stretches over 36 months.
in a related economic advisor to the Prime Minister, the appearance of Mohammed in an interview said to (long - Presse), he said that "the State Council studied the draft of the administration 's bill of public finances in preparation to be sent to parliament for discussion and approval soon after making simple adjustments relating to paragraphs 22 and 24 , two special powers of the Minister of Finance , "stressing that" theadoption of the law serves the interests of Iraq being gives leeway to rectify the imbalance in the financial management of the state. " Saleh added that "financial management and public debt , No. 95 of 2004, currently in force was released in the US civil administrator time, Paul Bremer, was built on the General Accounting of the 1941 Act, and suffers from many shortcomings , " adding, that " the most important ofthese shortcomings is the governance of financial operations in terms of transparency and disclosure, participation and accountability, where the international financial community discovered that financial management applications in Iraq need to restructure. "
He continued financial advisor to the Prime Minister, that" the law currently in force does not encourage the financial management of the development in Iraq "pointing out that" the World Bank and the international Monetary Fund and the United Nations recommended some time ago the need to re - examine this law nearly kept pace with the administrative and financial international standards of sound. "
He emphasized the benefit, that" the public finances in Iraq are not trivial, because the economic activity of the government holds 67% of GDP , "explaining that" a huge government financial operations and affect thelives of every citizen, what needs to see and standards clear to achieve justice and financial required Balnho and governance. "
He stressed favor, that" the time has come to enact a new law for financial management, taking into account not intersect with national and international standards , "noting that the" most important features of theproject financial management of the new Code, financial management governance in Iraq, especially that it needs to be clear and frank in front of the international financial community. " it is
noteworthy that Iraq suffers from a severe financial crisis due to the repercussions of low prices global oil and the war against the (Dash), which forced him to resort to the global financial institutions to obtain soft loans, something that requires the reorganization of the economic situation and financial management and diversify its sources of income and stimulate the productive sectors.