Head of the IMF mission for the (long-Presse): There are no negotiations to lend to Iraq

Author: HH, ZJ
Editor: BK, HH

2016/01/27 11:26

Long-Presse / Baghdad
We denied the IMF mission, on Wednesday, the existence of negotiations with Iraq to grant soft loans, and while confirming that the Fund will consider any request of Iraq for this purpose, she noted that the Fund applies the regulatory program for the establishment of follow-up and check on Iraq's economic policy record, in preparation for the system of financial arrangements Where.

The head of the IMF mission Christian Josh response to a question (range Press), on the possibility of lending Iraq from six to seven billion dollars, if so requested, "The Fund is not aware of a request to conduct financial arrangements with Iraq in the form of soft loans."

She said Josh, that "the Fund did not begin negotiations to make such a financial arrangement but it certainly would consider any Iraqi request like this," pointing out that "the Fund shall apply censorship with Iraq is currently a program to establish a follow-up and check on his economic policy record, which would pave the way for system the financial arrangements. "

Iraq had announced in (the 13th of January the current 2016), for the approval of the International Monetary Fund to finance the deficit Bmoisnth withdrawals of hard currency reserves, noting that it means reducing those reserves of $ 59 billion in October 2015 the last end, to 43 billion during the year Present.

The Prime Minister Haider al-Abadi, during his participation at the World Economic Forum in Davos, expressed the hope that Iraq gets the loans ranging from six to seven billion dollars from the International Monetary Fund, to face the repercussions of the financial crisis being experienced.

The Finance Minister, Hoshyar Zebari, revealed in (the 25th of November 2015 the past), for borrowing Iraq billion and $ 200 million from the International Monetary Fund, stressing that the Fund "has no" conditions in this regard.

The House of Representatives, approved by majority, in (the 16th of December 2015 the past), the draft budget law for fiscal year 2016 the current value in excess of 105 trillion dinars, and the inability of more than 24 trillion dinars.

It is noteworthy that the International Monetary Fund, a specialized agency of the Bretton Woods system of the United Nations, was established under an international treaty in 1945 to work on enhancing the safety of the global economy, and is based in Washington DC, and managed by its members who include all the countries of the world about their number of 188 countries.

The International Monetary Fund, the central institution in the international monetary system, any system of international payments and currency exchange rates, which allow for commercial transactions between different countries, and aims to prevent crises in the international system by encouraging different countries to adopt sound economic policies, as members can take advantage of its resources, to address what they are exposed to balance of payments problems, and include the legal objectives of the Fund to facilitate the expansion and balanced growth of international trade, and to achieve stability of exchange rates, and to avoid competitive devaluation of currency values, and a correction organizer imbalances balance of payments experienced by different countries.