Financial: Iraq is not bound by the terms of IMF lending
December 28, 2015


Member of the parliamentary Finance Committee ruled Hussam retributive, Monday, lifting subsidies on ration and petroleum products as required by the International Monetary Fund to lend to the Government of Iraq, confirmed the continued disbursement of salaries of staff members and retirees and the inviolability of Iraqi society.

Kumar said that "Iraq is committed to the International Monetary Fund annual obligations and duties, including the granting of annual, monthly, and in return Iraq have the right to take loans as needed.

He added that "Iraq is not obliged to adopt a standpoint and IMF recommendations affecting some sectors of Iraqi society in some cases", stressing "the continued support of the ration card add salary to remain retired as is."

"The IMF has the desire for investment and the private sector, excluding subsidies on the ration card and the petroleum products in addition to continued disbursement of salaries of staff members and retirees, although over Iraq crisis but has not reached the stage of damage to underlying society."

The International Monetary Fund demanded the lifting of subsidies on electricity, ration card for the Iraqi Government and to enable it to cope with a projected deficit in the budget in 2016.