IMF conditions Is reform

Amer al-Abadi

Wednesday 25 May 2016

Iraq at the International Monetary Fund member and therefore has the right to borrow from it, according to Fund Law has ended just days before negotiations with him in Amman and led by Iraqi Finance Minister Hoshyar Zebari and Bmeith delegation of experts from the Ministry of Finance and the prime minister and the central bank, which was the agreement to give Iraq a loan of $ 15 billion over three years, some in the form of international bonds, and will lock the amount of $ 5.4 billion after the fifth month of this year, and the remainder over the next two years. A soft loan terms:

Repaid during the term (30-20 years), that is not repayment during the first year and by the profitability rate is 1.5% and there are obligations imposed by the International Monetary Fund on Iraq , it was said coercive conditions were discussed and negotiated by the negotiating team in Amman and reached to certain solutions and these commitments:

1. Increase customs tariffs on imported goods / This is contained in paragraph (c) of article 24 of the Federal Budget Law

2. Increase taxes / which paragraph (2.1) in Article 24 of the Federal Budget Law

3. Increase the collection of assessments for the services given to citizens fitted as electricity, water and municipal and other // This is mentioned in the federal budget to article No. 22

4. reduce the pensions of up collectively to 12 trillion dinars / delegation was able to edit cut pensions proposal to increase taxes clause

5. Reducing the number of staff and workers in the public sector / note that the employees ' salaries up to (4-5) trillion Iraqi dinars a month , (55-60) trillion dinars annually

6. And the Ministry of Finance to provide Tqriraly cabinet periodically every three months the size of expenses and wills / This is demanded by the Commission for the economy and parliamentary invest in its report on the federal budget for 2015

7. payment of financial dues to oil companies, which are more than 6 billion dollars / was amended this requirement by the negotiating team that paid after the seventh month, in the form of premiums and using Treasuries and ends at the end of the year / this is stated in Article 28 of the General budget Law

8. The complete elimination of aliens far back in history and an end to the case of receipt of the employee 's salary over /

9. To speed up the enactment of the Central Bank Law / Law of financial management and public debt

10. Modifying the federal budget for 2016, amounting to 105 trillion dinars / by reducing expenses by (13.6) billion and increase revenue.

There is keen and clear when the major powers that Iraq remains an economically and militarily and politically collapsed Therefore , it will be held at the Tokyo conference of industrialized nations to support Iraq the financial amounts totaling more than 20 billion and led by the United States and this conference will be based on the final version agreed upon by the negotiating team in Amman.