Finance charge and the Central Bank of the disappearance of the loans obtained by Iraq

Economy Since 02/24/2016 12:19 am (Baghdad time)

Special - balances News
A commission of economy and investment representative, Wednesday, not knowing the fate of the amounts they borrowed the Iraqi government after the current financial crisis, confirming the existence of problems in the Central Bank and Ministry of Finance have caused this.

The governor of the Iraqi Central Bank on the Keywords had announced earlier that the government is facing a deficit of $ 5 trillion dinars (4.17 billion dollars) a month to cover the salaries and expenses critical.

The committee member said Harith al-Harthy's / balances News /, "The committee is still unaware to this day the fate of the money borrowed by the government during the previous period," noting that it "has not any percentage of which projects and urban development is to invest the like."

He said Al-Harthy, that "external borrowing an extra burden and not a solution to the financial crisis, as understood by the government," attributing it to "the existence of different levels of benefits between all the state has been the assumption of it."

He stressed that the "percentages ranging from 2 to 6%, and this in turn adds another burden on the next treasury Iraq," adding that "the ultimate goal for these countries is to get a profit, not to help Iraq compress claim."

And between that "all members of the committee do not know where the money went," adding that "the ministry of finance and the central bank are responsible for the disappearance."

He continued that "the committee will follow and precisely this critical topic because it regards the country's economy."

The Iraqi government, has announced its borrowing amount of 500 million euros (about 566 million dollars), from Germany to help Baghdad in the reduction of the financial crisis, resulting from a decline in oil prices.

The Finance Minister Hoshyar Zebari said earlier about Iraq borrow from Japan, the amount of $ 735 million.

By: Ahmed Zmim