Iraq , ending the first phase of the loan obligations , " the International Monetary Agreement"

2016-09-15 17:55:29 | (Voice of Iraq) - Erbil

An Iraqi official said on Thursday his country 's completion of the first phase commitments from the standby credit agreement with the International Monetary Fund of several stages including 13 which have been committed to the agreement to grant Iraq a financial loan of $ 5.3 billion.

Iraq won the International Monetary Fund in May / May last deal after meeting for several days held in the Jordanian capital Amman to grant Iraq a financial loan of 5.3 billion dollars with an interest rate of up to 1.5%, acknowledges Iraq share an initial value of $ 634 million in July / June.

The adviser said the Iraqi prime minister for financial policy, the appearance of Mohammed Saleh, in a press statement, " The first phase of the standby credit with the IMF agreement included several reform requirements of the Iraqi economy, and performance standards, and financial management reform, reform of some laws, procedures for restructuring the general budget, and maintain the central bank 's reserves, all of Iraq 's commitment to them. "

Saleh added that " the willingness of credit with the International Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement, includes 13 consultation or obligation, Iraq and the International Monetary Fund , they finished the first review, there will be future revisions in early October in Washington ".

Iraq 's chief financial officer , and continued that "after each audit is released part of a financial loan to Iraq in accordance with the agreement, and we expect that Iraq has received the second installment of the financial loan next month (without revealing its value)."

For his part, expressed the International Monetary Fund, on Wednesday, thanked the Iraqi authorities to "good cooperation and discussions with frank and fruitful during the first review of the Stand -By agreement, which has in the Jordanian capital Amman recent meetings."

The Iraqi government acknowledged the end of last month, the country 's budget for next year by 102 trillion dinars (about US $ 85 billion), to begin a new phase of internal and external negotiations may be more complicated on how to secure the fiscal deficit which stood at 30% of the total budget.