Ministry of Finance: International Monetary develop a program to assist Iraq in the financial management to get soft loans


Confirmed experts economy, on Wednesday, the IMF does not give money in the form of grants without setting conditions to ensure repayment of the loan with interest in addition to the intervention policy of the country's economic which will reflect negatively on the rise in transactions in the local market, while the Ministry of Finance revealed that Iraq will take over one billion and 200 million dollars a loan from the International Monetary Fund without preconditions.

He said economic expert on behalf of Jamil Antoine in an interview for the "long", said that "Iraq is going through a financial crisis and lacks liquidity and bridging the deficit in the 2016 budget of 23 trillion dinars."
He added, "The financial crisis has prompted the government to develop a plan to reduce the budget deficit by borrowing from several quarters, including the International Monetary Fund and the amount of one billion two hundred million dollars to cover some of the expenses necessary for the country."
He explained that "the value of the amount does not require setting impossible conditions imposed on the Iraqi government as well as the agreement was announced with proposals can be implemented in the future."
He said the "saving money to meet the annual deficit process requires the government put a solid management can negotiate during the agreement on various foreign loans and the method of distribution in accordance with the actual moment of need."
And detect and Finance Minister Hoshyar Zebari, on Wednesday, that Iraq billion and will receive $ 200 million loan from the International Monetary Fund, and among the latter does not have the conditions for lending to Iraq.
Zebari said during a joint news conference with the governor of Karbala, Akil Turaihi and chairman of the province of Karbala Nassif rhetorical, in the governorate building and attended by the (long-Presse) that "the International Monetary Fund does not have any requirements on Iraq to give him financial loans but has a program to assist Iraq in the financial management and the economy, This helped us in that we get soft loans from some international organizations, "stressing that" Iraq will take over soon billion and $ 200 million a soft loan from the International Monetary Fund. "
The condition of the International Monetary Fund removal of subsidies on electricity and the ration card to lend to the Iraqi government and to enable them to fill the projected shortfall in next year's budget in 2016, while expressed "serious reservations" on the size of salaries paid by the government for the staff, he called on them to reconsider.
The International Monetary Fund announced on Saturday (November 14 of the current 2015), the determination of the Council of Ministers amendment next year's budget in 2016, in line with the macroeconomic framework of the program watched by the Fund.
In turn, an economist Abbas Ibrahim Bahadli said in an interview for the "long", "The International Monetary Fund is a nonprofit organization in content and agitated according to global policies to control the economies of the countries through continued lending system."
"The country's economy is going through the throes of Asir requires the development of alternative plans to the process of falling oil prices by finding local alternatives to increase imports financial state without resorting to marginal loans do not help in overcoming the financial crisis, but places restrictions conditional may take many years to come."
He Bahadli "The IMF does not give money in donations without setting conditions to ensure repayment of the loan with interest in addition to the interference of internal and external policy of the state."
He said the "step to sign the IMF loan in the immediate stage through which the Iraqi economy will lead to reduced government support towards some key services such as fuel and the ration card and the demobilization of staff and the Ministry of Industry, causing companies to raise domestic prices by about rising".

Bahadli and warned against "the continuation of the central bank sold the dollar daily currency auction, which sapped currency funds derived from the sale of oil, prompting the government to borrow from the IMF, which in turn is opposed to the sale process and described as random."
He added that "continuously sell the dollar at the central bank auction threatens to decline foreign exchange reserves, which is owned by the state to dangerous levels as indicated by the IMF in his last statement."
Previously, the International Monetary Fund, and to give Iraq worth one billion and 250 million dollars in emergency aid, but Iraqi officials have reservations about the amount that said the government is seeking to borrow from the International Foundation which is based in Washington based.