Economist: external borrowing will lead to exhaustion and the collapse of the Iraqi economy

10/14/2015 15:03 pm (Baghdad time)

Special - scales News
Said economist Abdul Hassan al-Shammari, Wednesday, that external borrowing will lead to overheating of the Iraqi economy and this could lead to civil war or to the full economic collapse, calling on the Iraqi government not to take risks in borrowing.

Al-Shammari said L / scales News / "The foreign borrowings of the Qatar authorities and the World Bank and the International Monetary Fund and the Islamic Bank these are all tied to Iraq in economic terms, where it's very high interest rate," he said. "Foreign loans are great conditions on Iraq and the Iraqi state Non-leveraged to not be linked to the shoulders of its economy for years to come the international economy and thus on Iraq carried out within certain conditions for loans. "

He said economic expert, said "the economy in Iraq needs to processors on a high level of the first of the devaluation of the Iraqi dinar and raise the value of the dollar because it will result in this millennium in resources dinar Iraq exceed $ 11 billion and this leads to the dam complete inability to borrow and the amount is higher than the borrowing banks, including the fbr or so-called Balshabh own, "calling on" the Iraqi government not to take the risk in more external borrowing because it will be guaranteed for the coming years and lead to burnout Iraq, a run-down economy and this could lead to civil war or economic collapse to the full. "

The "Member of the Committee of Economy and Investment parliamentary Najiba Najib confirmed, earlier, that the state is obliged to external borrowing valuable under military commitments to fight al Daash terrorist and also the increasing numbers of displaced people, in addition to the salaries of employees take a large volume in the budget, as pointed out that the "Iraq's economy lacks a lot of sound economic foundations upon which the economy of other countries," .anthy 29/4 e