Senior Economist: loan granted by the IMF to Iraq is sufficient to accomplish a number of important projects
An economic expert said that the loan granted by the International Monetary Fund to Iraq recently enough to accomplish a number of important infrastructure projects.
Dr. Said Abdel-Saheb Member of Iraqi economists told the independent press (Iba) said Friday that the last loan of $ 1.8 billion came to help Iraq to get out of the global downturn expected due to the repercussions of the global financial crisis, and as Iraq has been affected slightly, the government is called upon to accomplish important projects needed by the provinces in this period.
He added that the evidence for that is to express optimism that the fund improvements in the economy of Iraq, thanks to the improved security situation, which in turn impact positively on the oil sector, thanks to a fall in inflation during the previous months, a propellant to further development plans.
And Abdel-Saheb said the loan to Evrd new obligations on Iraq, such as loans, which imposed the previous conditions are codifying the fuel subsidies and ration card. He stressed on the necessity of commitment to programs to pave the economic growth in the near term.
It should be noted that the source in the Iraqi Central Bank said it expected the loan is disbursed on projects, and also reduce the large budget deficit, estimated at 19 billion dollars this year, pressure on the government to urge them to find new sources of funding.
And approaching the International Monetary Fund and Iraq to complete the deal of a standby loan of 5.4 billion dollars, payable in two installments over five years at an interest rate slightly more than 1%.
The IMF saw that the continued economic improvement in Iraq is linked to the improvement of security, and the recruitment of tight oil resources, and to take action to reform the economy.
Called "Takatoshi Kato," Deputy Managing Director, International Monetary Fund the Iraqi government to carry out structural reforms at a faster pace, including the measures to be updated management of public finance.
An economic expert said that the loan granted by the International Monetary Fund to Iraq recently enough to accomplish a number of important infrastructure projects.
Dr. Said Abdel-Saheb Member of Iraqi economists told the independent press (Iba) said Friday that the last loan of $ 1.8 billion came to help Iraq to get out of the global downturn expected due to the repercussions of the global financial crisis, and as Iraq has been affected slightly, the government is called upon to accomplish important projects needed by the provinces in this period.
He added that the evidence for that is to express optimism that the fund improvements in the economy of Iraq, thanks to the improved security situation, which in turn impact positively on the oil sector, thanks to a fall in inflation during the previous months, a propellant to further development plans.
And Abdel-Saheb said the loan to Evrd new obligations on Iraq, such as loans, which imposed the previous conditions are codifying the fuel subsidies and ration card. He stressed on the necessity of commitment to programs to pave the economic growth in the near term.
It should be noted that the source in the Iraqi Central Bank said it expected the loan is disbursed on projects, and also reduce the large budget deficit, estimated at 19 billion dollars this year, pressure on the government to urge them to find new sources of funding.
And approaching the International Monetary Fund and Iraq to complete the deal of a standby loan of 5.4 billion dollars, payable in two installments over five years at an interest rate slightly more than 1%.
The IMF saw that the continued economic improvement in Iraq is linked to the improvement of security, and the recruitment of tight oil resources, and to take action to reform the economy.
Called "Takatoshi Kato," Deputy Managing Director, International Monetary Fund the Iraqi government to carry out structural reforms at a faster pace, including the measures to be updated management of public finance.