Iraq: the agreement with the IMF is going according to plan

Views 117 Added 13/06/2016 - 23:20
Economy News / Continue ...

Prime Minister fiscal policy adviser said the appearance of the benefit, if Iraq agreed to request the International Monetary Fund to provide loans that will help the country to overcome the crisis in liquidity resulting from the drop in oil revenue measures.

Saleh said in remarks followed up "the economy News" that the agreement reached last month between Iraq and the International Monetary Fund is going according to planned.

He added that among the measures that have been approved the payment of all arrears owed to foreign oil companies operating in Iraq by the end of the year.
Saleh did not disclose the total amount owed by the country to those companies.

Iraq and its budget request to support from the international community after the collapse of oil prices over the past two years. And caused the sharp decline in oil revenues in the high budget deficit and delayed payments to foreign oil companies.

The IMF agreed in May to give Iraq a loan of $ 5.4 billion over three years. But granting that Iraq unconditionally implemented measures to cut spending and increase non-oil revenue and paying for oil companies billions of dollars in loan arrears.

Content link