IMF: Baghdad is not currently in danger of running out of cash



By Mohammed Emad

21/10/2015 04:46



Brother - Follow-up
The International Monetary Fund, on Wednesday, he may give Iraq a large loan in 2016 to help him achieve financial stability, adding that Baghdad is not currently at risk of liquidity into force.

Said managing director of the Middle East and Central Asia in the Fund Masood Ahmed in a statement carried by "Reuters", that "a team from the Fund will discuss with Iraqi officials early next month to follow up the development of ways to Baghdad Fund experts watching the program in which the economic policies of the country."

Ahmed said, "The Fund for Iraq could give a large loan in 2016 to help him achieve financial stability at a time when Baghdad suffer because of falling oil prices and the war being waged against the organization of the Islamic state."

He Ahmad hoped to "build a record for the application of policies as the basis for another program funding from the International Monetary Fund later in 2016," noting that "the loan of the new IMF will be times the emergency funding that fund it approved in July this year and the $ 1.24 Billion dollar".

He continued, that "Baghdad is not currently in danger of running out of cash because they can postpone investment projects and rely on the financing of the central bank if necessary", but he also said that "the government needs to develop a clear and comprehensive plan to reform its finances, although the International Monetary Fund program may help in this."

Iraq has suffered from difficult economic conditions as a result of lower oil prices, which is the most important supplier of the country's resources.

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