IMF loan employed in productive sectors

5/19/2016 0:00

BAGHDAD - Al- Sabah
received a loan of the International Monetary Fund for Iraq and $ 13 billion in interest to economists, especially as the conditions include rehired in the same positive effect on the national economy productive sectors.

Described the economic expert on behalf of Jamil Antoine loan as good, especially as the usefulness acceptable estimated at 1, 5 percent after negotiations that lasted for two months , such as Iraq , which headed by the Minister of Finance technical delegation.

He noted that the IMF grants loans in accordance with the terms and conditions of the recommendations of the special control of the Iraqi economy and to divert loan sectors productive projects generate income , both in production and services and do not go to salaries in order to maintain the loan of corruption which is over three years.

He pointed out that the loan needs to be accurate employ a verification mechanism and economic feasibility of the country over to spend in specific fields check benefit through activation of production and contribute to the development process, pointing to the possibility of benefiting from the loan to increase the production of electric energy , and if we've added something to generation and distribution , we have come a good step towards the employment of the loan the direction

Antoine said that the private sector owns 5.6 million of the labor force looking for work in new projects in various jurisdictions, noting that this requires us to invest this loan development projects have positive impact on the Iraqi economy, especially that of the conditions of the international Monetary Fund to find new mechanisms for the disbursement of the amount.

He stressed the importance of follow - up loan and the formation of specialized committees smooth pass the money and trends and make it an active contributor to the recovery of the Iraqi economy and supportive of the Iraqi budget that suffer a large deficit caused by pursuing the decline in oil prices crude in world markets.

He said the presence of development projects stalled , despite their importance in the economic life, noting that the negotiating team included representatives from several ministries such as oil and planning, electricity and adviser to the Prime Minister for Finance and the Governor of the Central Bank of Iraq and headed by the Minister of Finance.