IMF thank Iraq on "fruitful cooperation and candor , " the first revision of the standby credit agreement

Editor: BK
09/14/2016 12:58
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Long-Presse / Baghdad

He International Monetary Fund, on Wednesday, thanked the Iraqi authorities to "good cooperation" with him and discussions "frank and fruitful", during the first review of the agreement to prepare the credit, which has in the Jordanian capital Amman recent meetings, noting that discussions between the two sides will continue in America during October next I.

The head of the IMF mission for Iraq, Christian nut, in a statement received (long-Presse) a copy of it, "the Iraqi authorities and experts Fund fought the discussions on the first review of the agreement to prepare the credit framework will continue during the upcoming annual meetings of IMF and World Bank held in Washington, DC for the duration of the seventh the ninth of October 2016 ".

He coconut, the "Fund team met with the Minister of the Iraqi Finance, Hoshyar Zebari, and the Governor of the Central Bank of Iraq and the Agency, on the Keywords, financial advisor to the Prime Minister, the appearance of Mohammed Saleh, and a group of officials from the finance, oil, planning and electricity ministries, the Central Bank of Iraq, and representatives of the Government the Kurdistan region, and the Office of financial supervision, the body of retirement, "and expressed" thanks to the Iraqi authorities on the good cooperation and the frank and fruitful discussions. "

The Iraqi authorities and experts of the International Monetary Fund held discussions in Amman, Jordan, for the period from 28 August to 10 September 2016, in the first revision of the agreement to prepare the credit amounting duration of 36 months, which was approved by the IMF Executive Board on the seventh of July 2016 framework.

The Executive Board of the International Monetary Fund, announced in (the seventh of July 2016), agreed on the standby credit agreement with Iraq worth about five billion and 340 million dollars, to support the government's economic reform program, noting that it gives the Board's approval to spend about $ 634 million for Iraq.

Iraq had happened in July 2015, a payment equal to about one billion and 240 million dollars, through the "rapid financing" of the Tool Box.
Iraq and delivered by mid-July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.

The United States of America, confirmed in (the twentieth of April 2016), that the economic reforms the Iraqi government began to show the effects of an increase of non-oil imports, indicating that the Iraqi government's success in reducing the budget deficit means obtaining a loan from the International Monetary Fund worth billions of dollars.

The appearance of Mohammed Saleh, said in an interview to the (long-Presse), in the (26th January 2016), that Iraq has agreed with the International Monetary Fund for long-term soft loans for the implementation of development projects, noting that the fund is among other conditions, government expenses, and modified some procedures related to economic policies, while counting economist that "the most important" of those loans is to know the amounts that will be obtained during the year 2016.

The International Monetary Fund agreed in the (13 January 2016), to finance the deficit of the Iraqi budget through clouds of hard currency reserves, which led to the reduction of those reserves from $ 59 billion October 2015 end, to 43 billion during the current year 2016.