Parliamentary Economy: International credit loan provides a good environment for Iraq

The news agency Buratha Views 23 07/19/2016

The economic and investment commission in Parliament stressed that the international status of the loan necessary to the fact that Iraq is in a state of war and financial obligations incurred by the biggest revenue - generating on the country and supports the financial budget.

Committee member Najiba Najib said in an interview for "direction Press" made ​​it clear that the international loan will provide a good credit environment of Iraq where the give way of leading industrialized nations in order to provide financial support through loans and aid, indicating that the loan gives the confidence and support to that country because of the hand that provided the loan for Iraq and the size of the benefits of it.

Iraq has reached Thursday May 19, 2016, an agreement with the International Monetary Fund for a loan of five billion and a half billion dollars, donors has prompted the release of financial assistance to a country that is going through a crisis, according to a statement of the Fund.

The contract was concluded between the Iraqi government and the International Monetary Fund in Jordan after a week of talks.

Said Christian Jos head of the IMF mission in Iraq that "Iraq is severely affected by the conflict" with extremist organizations and "fall in oil prices." Adding that " in response to the urgent needs of the balance of payments, the Iraqi authorities and members of the IMF agreed on the financial and economic program spans three years, will allow convenient expenses with the lower oil prices and to secure the debt."

Such a declaration would improve Iraq 's credit rating and encourage donors to future funding.