IMF Chief: Proposed Iraq Budget Allows Continued Access To Credit Line
December 13, 2011
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WASHINGTON (Dow Jones)--Iraq's proposed budget will allow the war-torn country to have continuing access to an International Monetary Fund credit line, IMF chief Christine Lagarde said Tuesday after a meeting with Prime Minister Nouri Al-Maliki.
"I am very encouraged by the government's new budget proposal for 2012 that was recently submitted to the Iraqi Council of Representatives," Lagarde said in a statement after the meeting. "The proposal aims to restrain the growth of current spending, thus freeing up resources for infrastructure investment and social support, while limiting the size of the budget deficit," she said.
The IMF remains committed to "helping Iraq in its efforts to foster sustained and inclusive economic growth, generate viable employment opportunities, and improve living standards for all Iraqis," she said.
An IMF staff mission is scheduled to meet Iraqi officials in January to discuss progress under the program and next steps, the IMF said.
Iraq agreed to a $3.8 billion credit line last year as a budget safety net in case oil revenues fall sharply.
December 13, 2011
Posted Image
WASHINGTON (Dow Jones)--Iraq's proposed budget will allow the war-torn country to have continuing access to an International Monetary Fund credit line, IMF chief Christine Lagarde said Tuesday after a meeting with Prime Minister Nouri Al-Maliki.
"I am very encouraged by the government's new budget proposal for 2012 that was recently submitted to the Iraqi Council of Representatives," Lagarde said in a statement after the meeting. "The proposal aims to restrain the growth of current spending, thus freeing up resources for infrastructure investment and social support, while limiting the size of the budget deficit," she said.
The IMF remains committed to "helping Iraq in its efforts to foster sustained and inclusive economic growth, generate viable employment opportunities, and improve living standards for all Iraqis," she said.
An IMF staff mission is scheduled to meet Iraqi officials in January to discuss progress under the program and next steps, the IMF said.
Iraq agreed to a $3.8 billion credit line last year as a budget safety net in case oil revenues fall sharply.