Iraq in a dark tunnel because of government corruption

Iraq in a dark tunnel because of government corruption

27/10/2016

Iraq did not find an option to finance the fiscal budget , which is witnessing a growing deficit of only internal and external borrowing, which warned of economists and considered "wrong policy" will sign the country's major problems in Almstqubl.oasay Iraq to borrow about $ 18 billion in cooperation with the World Bank and the IMF industrialized nations seven and is currently discussing with Britain to borrow 13 billion Dolar.ookd Central Bank of Iraq that Iraq 's debt amounting to $ 102.6 billion between internal loans and Foreigh.oukal spokesman for the central bank, Acer Jabbar today 25/10: " The domestic debt of the Iraqi government of 43 trillion Iraqi dinars ($ 32.6 billion), for government and private expenses . "He added that" the external debt of Iraq of up to $ 70 billion and for international bonds , foreign companies , "noting that" this figure has nothing to do with debts Gulf countries " , stressing that" there are some debt downgraded postponed , such as the Paris Club , "noting that" the Iraqi debt problem moving because interest rates are continuing , ".onoh 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 ".oimitlk Iraq 's 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. He explained the financial advisor to the prime minister appearance of Mohammed Saleh Iraqi debt. He said: " The debt related to the Paris Club cut Iraq will be paid in the form of annual installments of $ 800 million, noting that the religion of Kuwait has been postponed also" .ofatt that "Iraq has signed loan with the International Monetary Fund program includes implemented in three years and is accompanied by a program reform respect to the operation of tax settling accounts and activate the role of the integrity Commission . "He continued , " procedures , which included amending the Central Bank Act , 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. " Economists have warned from entering the country in 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 Jeriih.oukal economist just peace: " the Iraqi borrowing exceeded percent billion dollars is a very large number and enter the country into a dark tunnel because if the interest rate of 2%, Iraq annually would pay $ 2 billion "he pointed out that" Iraq 's debt last of 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 leading to the control of the politicians on the country 's economy because the IMF has always promoted to the public sector failed and must rely on the private sector. " the economists see Iraqis that Iraq 's debt is today 77% of GDP , while natural not exceed 60% of GDP . said economist Hisham Isa: " The 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 also used the political recruitment policy" , stressing that "Iraq 's debt has become a major and the state is still going on so you must use policy new financial instead of the current policy that supports the imported product and steal people 's money by selling the currency window ".ofatt 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 cancellation of an auction currency and rely on the document to transfer funds ".onoh to " The money stolen millions of dollars from the country because of the currency auction through fake invoices."