Author Topic: IMF denies holding negotiations to lend to Iraq now  (Read 251 times)

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IMF denies holding negotiations to lend to Iraq now
« on: January 29, 2016, 07:52:13 AM »
 IMF denies holding negotiations to lend to Iraq now

We denied the IMF mission, on Wednesday, the existence of negotiations with Iraq to grant soft loans. And while confirming that the Fund will consider any request of Iraq, in this regard, government economists called for budget support through the recovery of misappropriated funds at the time of the previous governments.
The head of the IMF mission Christian Josh response to a question (range Press), on the possibility of lending Iraq from six to seven billion dollars, if so requested, "The Fund is not aware of a request to conduct financial arrangements with Iraq in the form of soft loans."
Josh and added that "the Fund did not begin negotiations to make such a financial arrangement but it certainly would consider any Iraqi request like this," pointing out that "the Fund applies the regulatory program with Iraq is to establish a follow-up and check on his economic policy record, which would pave the way for arrangements system finance it. " For his part, economist Mustafa Mohamed Habib said in an interview for the "long", "The Iraqi government does not need foreign loans to end the financial crisis, but also a real need to manage the funds that come through the sale of oil."
"The previous administrations Iraqi governments wasted billions of dollars Pfsadha without providing realistic services for years ago."
Habib said that "the prosecution of corrupt and retrieval of public money who stole a large embezzlement will bridge the federal budget deficit and to provide large sums of money for the coming years."
He said the "Egyptian experience worthy of admiration, where the government issued a Cairo economic decisions toward corrupt billions of pounds of contraband recovered whereby abroad."
He stressed that the beloved "government borrowing through the IMF and other marching thus the rule of economic and political conditions of the country's air-conditioned originally to subdue Iraq economically and for long periods of time."
"The reliance on the internal resources of the country and reduce the waste of big money will help the government to overcome the current economic crisis."
Iraq had announced in (the 13th of January the current 2016), for the approval of the International Monetary Fund to finance the deficit Bmoisnth withdrawals of hard currency reserves, noting that it means reducing those reserves of $ 59 billion in October 2015 the last end, to 43 billion during the year Present.
In a related development, the International Monetary Fund issued, on Wednesday, 10 list of the worst economies in the world for 2015, Russia was ranked tenth on the list.
Fund these countries and regions by the impact of the significant decline in GDP in 2015, according to IMF estimates, and perhaps most notably Russia's entry in this list after the economic sanctions imposed by the United States and Europe as well as the decline in oil prices, which is one of the pillars of the Russian economy .
And below the worst 10 developing economies for 2015 and the proportion of GDP decline, according to the IMF forecast:
Yemen ranked first in the worst economy after GDP fell by 28 per cent, followed by Sierra Leone dropped by 24 per cent and then Venezuela and Guinea by ten per cent.
Came Ukraine in fifth place, down by nine per cent and Burundi by seven per cent, followed by Libya increased by six per cent and South Sudan by five percent and Brazil 3.8 percent and Russia finally in tenth place by the decline amounted to 3.7 per cent, it referred to that The IMF pointed out that he does not have expectations about the Syrian economy.
The Prime Minister Haider al-Abadi, during his participation at the World Economic Forum in Davos, expressed the hope that Iraq gets the loans ranging from six to seven billion dollars from the International Monetary Fund, to face the repercussions of the financial crisis being experienced.
The Finance Minister, Hoshyar Zebari, revealed in (the 25th of November 2015 the past), for borrowing Iraq billion and $ 200 million from the International Monetary Fund, stressing that the Fund "has no" conditions in this regard.
The House of Representatives approved by majority, in (the 16th of December 2015 the past), the draft budget law for fiscal year 2016 the current value in excess of 105 trillion dinars, and the inability of more than 24 trillion dinars.
It is noteworthy that the International Monetary Fund, a specialized agency of the Bretton Woods system 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 its members who include all the countries of the world about their number of 188 countries.




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