Parliamentary Finance: no intention to repeal Article 14 of the Convention on the International Monetary Fund

August 31, 2016

Economy News / special parliamentary finance committee confirmed that it has no intention to abolish Article 14 of the International Monetary Fund agreement signed with Iraq on the granting of loans, while confirming that the past parliament to vote on all articles and paragraphs Convention.

Committee Chairman Mohammed Halbusi in an interview for "Economy News," there was no intention by the Finance Committee or Parliament in general to stop or cancel Any of the Iraqi articles of the Convention with the IMF on loans, stressing that all the materials pour the interests of Iraq and the parliament's past vote on them.

He added that the international loan will save Iraq from a lot of economic and financial problems that affected the monetary reserves and the general economic situation in the country.

The Prime Minister's Advisor appearance of Mohammed Saleh, has asked parliament to suspend or stop the Article 14 of the International Monetary Fund agreement with Iraq ", saying that Iraq is required to terminate this paragraph being negatively affect the banking sector and the economy of the country and so far there is no real movement by the Parliament and the World Bank Central to stop this Article.

" It is said that Article / 14 / of the International Monetary Fund Agreement gives freedom to the countries of the exit of the Iraqi capital and without restrictions and that will lead to the escape of most of the capital under the pretext of trade goods that do not match with the Iraqi specifications and with the amount of hard currency emerging (in the opinion of experts in economic affairs). AJ