World Bank loans require fiscal control on Iraq having opposed "dilution of national sovereignty."

2016/06/17 (00:01 pm) - hits: 375 - number (3647)
 Baghdad/zahraa Hamid

I returned the parliamentary economy and Investment Committee on Monday, the IMF's demands of Iraq to agree to lend "does not constitute" conditions but a special vision to tackle the economic crisis being include reducing spending and focus on productive sectors to promote budget resources. With expert external borrowing Viewer imposes financial international control ", notably Iraq," enemy "derogation of national sovereignty," asserted that "specialists" to face the economic consequences ".

An Iraqi delegation headed by Finance Minister Hoshyar Zebari, head of the Government Adviser for finances the appearance of Mohammed Saleh, Governor of the Central Bank of the agency relationship, and a large group of professionals in the ministries of oil and finance and planning, electricity, as well as the Central Bank, is currently negotiating with the International Monetary Fund, in Oman, Jordan, to obtain soft loans.

He said the parliamentary economy and Investment Committee Chairman Jawad Al-bulani, the (long press), "the IMF imposes on Iraq against its lending as some believe, but presented a special vision to address the significant problems that plague of the national economy as a result of its dependence on oil," indicating that "the Fund wants the Iraqi Government to reduce spending and focus on productive sectors to promote budget resources."

Al-bulani said that "Prime Minister Haider Abadi, State resources were sufficient to cover only the salaries," returned to "the solution is to rely on imports and State services to be producing country, as well as edit taxes and activate the industrial and agricultural sectors.

The Chairman acknowledged "errors of Iraq remain beneficiaries views under financial and economic pressure, and that the budget has not achieved its objectives as being political," adding that "international economic institutions want to be balancing Iraq with GIES and pressure on certain aspects to improve performance.

Economist, said in an interview with barihy Ahmed (range), that "Iraq is seeking loans from the International Monetary Fund and big industrial countries remain limited compared to the size of domestic spending," pointing out that "the IMF usually imposes requirements on States that both may not be consistent with the economic and financial" Iraq.

Barihy added that "Iraq should plan on not resort again to international financial institutions," but that "Unfortunately, the Government is determined to deal with these institutions since 2003 and yet, although they dictate the State that deal with it."

Economist rejected "any international financial oversight on Iraq, returned to it" undermines national sovereignty.

In his turn, said economist Anton's name (long press), "Iraq's oil exports have exceeded three million barrels a day, and there are expectations of further crude price allowing secure salaries of State employees.

Anton said that "the Iraqi Government and deficit obligations approximately 16% of GDP worsening economic hardships," expressing regret that the Iraqi Government was unable to transform the economy from an agricultural to industrial oil preparation.

The Economist stressed "Iraq's need for international loans", stating that it was "natural that puts the IMF conditions and watching the economy of any country loan, and that it is not a violation of sovereignty as some think."

Anton noted that "taxation and tariff law enforcement has added oil supplier believes, but by saying" but economic crisis remain under population growth and infrastructure requirements, what it takes to get soft loans from either the IMF or the Islamic Development Bank or from the inside. "
The President of the Assembly, said Iraqi Abdel Hussein Al-yasseri, economists told the (range), that "the IMF puts conditions on any State to ensure both his money", adding that those "conditions to be balancing a transparent country and spend money on things that are absolutely necessary, and that the financial decisions taken by the Government of that State.

"Yasiri drew Iraq began to achieve those conditions", expressing optimism the possibility Iraq exceeded current economic crisis being worked on increasing production of wheat which ensure food economic situation. "

Iraqi economists Association Chief promised that "the IMF is not a dilemma, although sometimes arbitrary, as long as Iraq develops economic policy", stressing that "Iraq delegation that negotiates important economic expertise includes Fund eager to benefit the country and would not accept any arbitrary conditions".

He was a financial adviser to the Prime Minister, said Mohammad Saleh appearance Saturday (14 may 2016), Iraq sought to borrow $ 16 billion through preliminary meetings with the International Monetary Fund.

Saleh said in an interview with the (long press), (26 second law 2016), that Iraq agreed with the IMF to obtain long term loans, to implement development projects, indicating that the box under other conditions of government expenses, and certain procedures relating to economic policies, while counting the Economist that "most" of the loans is to know the amounts that will be obtained through 2016.

It is said that Iraq declared in (13 January 2016), approved by the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, explaining that it means lower those reserves of 59 billion dollars by the end of October 2015, to 43 billion this year.