Economic Adviser likely received two installments of the IMF loan the end of 2016
(00:01 pm)
o Baghdad / Zahraa Hamid
Financial advisor to the Prime Minister Haider al - Abadi, on Wednesday, revealed a new round of talks between Iraq and the International Monetary Fund early next September, and while stressing that it will focus on ready credit for a loan of 5 - billion and $ 300 million arrangements, to support the budget, what has been implemented economic reforms and fiscal governance, favored the possibility of taking the second and third installments of the amount of the Fund 's loan of about two billion dollars the end of the year 2016.
he said the appearance of Mohammed Saleh in an interview (long - Presse) that " the delegation headed by the Finance Minister , Hoshyar Zebari , featuring a group of senior government officials and experts from the ministries of finance, oil and planning and the Central Bank of Iraq and the Office of financial supervision will meet with the IMF mission in the first days of the month of September in Amman , Jordan. "
Saleh added," the first phase of consultations with the IMF will discuss the implementation of the standby credit arrangements under which Iraq would get agreement 5 billion and $ 300 million as a soft loan to support the budget, during the period from 2016 to 2019 , "noting that" the loan will allow Iraq 's international financial umbrella of the dolly and support form of soft loans to bridge the funding gap of at least $ 15 billion spent mostly for reconstruction and economic development . "
Saleh said that " consultations with the IMF would also review the findings of the joint agreement and the requirements of the success of economic reforms, and paced made ​​by Iraq in the field of public finance and the general financial activity in the country 's governance, especially the countless number of employees and retirees ghost who receive government income violation of the law , and the statement of the results reached by the Audit Court in this regard , "pointing out that" the Iraqi delegation will explain to representatives of the international Monetary Fund over the government 's concern with financial regulations, especially new law , financial management and regulations relating to anti - money funds crime and terrorism laundering law. "
The benefit of that" Iraqi delegation consultations with the IMF mission will also focus on topics related to the principles of the federal budget for 2017 and other topics relating to the presentation of public finance data in accordance with international standards in the presentation of government finance data to enhance disclosure and transparency capabilities in the financial administration of Iraq , "adding that" Iraq may receive the second and third installments of the Fund 's loan amounting to nearly two billion dollars , or slightly less than that, out of the loan at the end of the year 2016 ".
acknowledges Iraq before mid - July 2016, about $ 634 million, represents the first installment of the IMF loan, immediately after authentication IMF Executive Board, in ( the seventh of this month) on the standby credit agreement with Iraq, noting that the loan term is five years , annual interest rate low of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.
the the United States, confirmed in ( the twentieth of April 2016) that economic reforms the Iraqi government began its effects appear to increase non - oil imports, indicating that the Iraqi government 's success in reducing the budget deficit means obtaining a loan from the international Monetary multibillion - dollar fund.
the appearance of Mohammed Saleh, He said in an interview (range Press) at (January 26 2016) that Iraq agreed with the IMF to obtain long - term soft loans for the implementation of development projects, noting that the fund is among other conditions, government spending, and amended some procedures related policies economic, while counting economist that " the most important" of those loans is to know the amounts that will be obtained during the year 2016. it is
noteworthy that the international Monetary Fund agreed in the (January 13, 2016) to finance the deficit of the Iraqi budget through clouds of hard currency reserves , resulting in a reduction of the reserves from $ 59 billion the end of October 2015, to 43 billion during the current year 2016. 9%8A-%D9%8A%D8%B1%D8%AC%D8%AD-%D8%AA%D8%B3%D9%84%D9%85-%D8%AF%D9%81%D8%B9%D8%AA%D9%8A%D9%86-%D9%85%D9%86-%D9%82