Financial: the Executive branch of the State needs to restructure
Baghdad Ibrahim Ibrahim

The parliamentary Finance Committee, confirmed on Monday that the Government needs to be restructured in accordance with the financial resources of the country without resorting to external borrowing. With the Ministry of Finance announced on holding Iraq financial and economic talks with the International Monetary Fund in Oman, indicated that they talk to enter Iraq with credit policy arrangements (SBA).

She is a member of the Finance Committee, Magda El-Tamimi, speaking for the "range", that "the executive arm of the State requires restructuring to match the financial resources of the country without recourse to borrowing money and dispensing random ways.
"Successive Governments have squandered billions of dollars without any results on the ground that it touches a citizen because of the corruption that has become sadly culture prevalent in society.
Tamimi said that "the budget deficit and the Government's lack of funds should not compensate deficient conditions in external borrowing must develop plans for restoring the confidence of citizens with financial institutions to increase the funds of the banks where the Government can borrow them in accordance with the terms and specific benefits.
Meanwhile, the Finance Ministry said in a statement, "the range", that "Iraq started on 27-28 March in Oman financial and economic talks with the IMF", adding that "the Iraqi delegation was represented by the Minister of finance and the Governor of the Central Bank and the Ministers of oil and electricity planning, while the share of other senior staff side representatives of the World Bank and the representatives of the United States Agency for international development's Japanese JICA".
The Ministry said that "the talks were focused on reviewing the Fund's staff monitoring program of economic and financial policies for Iraq and to review expenditure policies and maximize revenue and reduce unnecessary overheads and financial deficit procedures".
The Ministry said that "Iraq discuss entering Iraq with credit policy arrangements (SBA) which populated Iraq to get loans from the IMF and the financial institutions to support the Iraqi economy as a result of declining prices and expenditure requirements of confrontation with terrorism and Iraq need daash to economic reforms to balance expenses and revenues and meet the obligations of the social State".
In turn, said economist Mohammed Abdel Latif al-ANI, in an interview for "the range", that "the Government is determined to put restrictions on Iraqi economy by insisting on external borrowing to tackle the unfolding financial crisis.
He added that "there are many ways the Government can take without resorting to external borrowing, reducing unnecessary expenditure and borrowing from Government and private banks as well as activation of internal taxes."
Al-Ani said that "the Government borrowing money from international institutions not plugging deficits without real action to fight financial and administrative corruption rampant in the various joints of the State".
The "foreign loan funds do not clog the only 3% public deficit, which gradually began to climb as a result of low oil prices for nearly years.
Central Bank Governor disclosed the relationship on 23 March 2016, that Iraq would meet soon with the IMF for a loan, adding that Iraq has the right to grant assistance and facilities when in crisis.
He was economic advisor to Prime Minister Mohammad Saleh appearance said Tuesday (6/1/2016), that "Iraq to consult with the IMF to get the crane supporting financial sustainability through soft loans," returned to "the agreement itself is useful as an umbrella for Iraq to give a signal to the international financial community to lend Iraq".
Saleh said, in an interview for "term", that "the cost of these loans is low and few benefits for about a year, and the length of repayment", stating that "Iraq has signed an agreement with the IMF, under its control of economic policy for the country."
Likely possibility "Al-Abbadi consultant agreement with the Fund to a greater level, allows Iraq to obtain soft loans from the International Monetary Fund and the World Bank, adding that" If the loans would go to development projects, particularly energy and industries important to the lives of the Iraqi people. "
He added that "the IMF, among other terms, government expenditure and amended certain measures relating to economic policy," adding that "the Government restricted expenses mainly as a result of the crisis."
Mentions that Iraq is experiencing significant financial crisis as a result of lower oil prices depends therefore mainly Iraq at this price, sometimes low levels amounted to less than $ 30 per barrel.