[ltr]Report: thefts "Iraq intervention in the dark tunnel of debt[/ltr]
[ltr][You must be registered and logged in to see this image.]Baghdad -arac Press October -25: Iraq did not findan option to finance the fiscal budget , which iswitnessing a growing deficit of only internal and external borrowing, which economists have warned him and considered it "wrong policy" will sign thecountry's major problems in the future.
Iraq is seeking to borrow about $ 18 billion incooperation with the World Bank and the IMF ofSeven industrialized nations, is currently discussing with Britain to borrow $ 13 billion.
Central Bank of Iraq and stressed that Iraq 's debt amounting to $ 102.6 billion between internal and external loans.
A spokesman for the central bank, Acer Jabbar, "The domestic debt of the Iraqi government of 43 trillion Iraqi dinars (32.6 billion dollars) for government and private expenses."
He added that "Iraq 's external debt of up to $ 70 billion and international bonds for foreign companies , " noting that "this figure has nothing to do with debts Gulf states."
He stressed that "there are some debt reduced and postponed such as the Paris Club , " noting that " the Iraqi debt problem moving because the interest going on ."
He noted that "Iraq 's current loans do not carry a great benefit because it is from a reputable international financial institutions like the International Monetary Fund."
Accumulated debts ..
Iraq has the debts since the era of the former Iraqi regime, and the number of countries Batefaiha, but successive governments after 2003 have increased the external debt through international organizations, although the budgets of the country formed large numbers exceeded percent billion dollars per year.
Financial advisor to the Prime Minister and explained the appearance of Mohammed Saleh Iraqi debt. He said that " the debt relating to the Paris Club cut Iraq will be paid in the form of annual installments of $ 800 million, noting that the religion ofKuwait has also been postponed."
He pointed out that "Iraq has signed loan with the International Monetary Fund program includes implemented in three years and accompanied by reform of the tax settling accounts respect to the operation and activating the role of the Commission on Public Integrity Program."
" The actions included modifying the central bank law , financial management and the strengthening of surveillance and reduce fiscal spending in the budget , " adding that " the Fund 's request for financial companies because it is mostly a losing companies."
dark tunnel..
Economists have warned from entering the country into a dark tunnel, as a result of external debt policy , which deepened during the current days, stressing that the figures , which manages the country 's economy is weak and bold.
The economist said a just peace, " The Iraqi percent borrowing exceeded billion dollars is a very large number in a dark tunnel and enter the country because if the interest rate of 2% per year, Iraq will pay $ 2 billion."
He pointed out that " the recent Iraq 's debt from the International Monetary Fund will go to support the financial budget and thus will benefit the officials and employees of the state," pointing out that "it is within the terms of the International Monetary Fund restructuring of state - owned companies , which leads to the control of the politicians on the country 's economy becausethe IMF promoted always that the public sector failed and must rely on the private sector. "
Iraqi economists believe that Iraq 's debt is today 77% of GDP , while natural not exceed 60% of GDP.
Thefts ..
The economist said Hisham Isa, said that "Iraqi politicians have wasted billions of dollars when the country was a budget exceeding $ 100 billion and did not develop the productive sectors such as industry, agriculture, but used a recruitment policy in order to reduce unemployment."
He stressed that "Iraq 's debt has become a major and the state is still going on so you must use a new financial policy , instead of the current policy that supports the imported product and steal people 's money by selling the currency window."
He pointed out that "Iraq 's bitter experience with international financial organizations such as the IMF and the World Bank because the country has not taken advantage of these organizations in the past and is not bound by its own terms."
He stressed that " the government must reduce spending and stop excessive employment and the application of the tariff law properly because corruption is controlled not benefited the state of it, but connote people", calling for " the abolition of thecurrency auction and rely on the document to transfer funds."
He noted that "millions of dollars in money stolen from the country because of the currency auction through fake invoices" .anthy (1)
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