Parliamentary showing financial support for the IMF conditions

09/18/2016 (0:01 pm) - The number of readings: 68

Baghdad / Zahraa Hamid

Finance Committee in the House of Representatives expressed, on Saturday, its support to the conditions imposed by the IMF on Iraq in return for lending, and demanded that the Prime Minister Haider al-Abadi as "bold positions to resolve the corrupt file", as economists asserted that Iraq faces a "real dilemma" because "lack of maturity" economic might obliged to accept the conditions of the IMF, warned against the imposition of the final conditions "most unfair" in the absence of Iraq's commitment.

She said the Parliamentary Finance Committee member Majida al-Tamimi, said in an interview to the (long-Presse), "The International Monetary Fund request from Iraq as part of recent discussions additional cuts expenditures and the fight against corruption and activating the economic sectors", expressing its support for "the International Fund demands."

Tamimi stressed the need to "include cuts unnecessary spending of the state, and that does not affect employees and retirees, or the life of the salaries of citizens", calling for "the resolution of thousands of files of corruption in the Integrity and Accountability spoilers."

She Tamimi surprise of "spending three million and 799 thousand dollars to hire a private aircraft, during the last quarter of the year 2014 and over the past year in 2015, as well as the expenditure of funds and other money on Aivadat officials, in spite of the serious consequences of falling oil prices and the war against al (Daesh) ", Prime Minister Haider al-Abadi required to" be more aggressive in resolving the corrupt files, especially since he knows very well the defect points and the size of the waste of public money, since he held the presidency of the Finance Committee in the House of Representatives economic and kissed her. "

For his part, economist said spokesman Anton, in an interview with (long-Presse), "The International Monetary Fund put several recommendations and terms when he agreed to lend Iraq, including a review of public budgets of the state and the actions taken to rationalize spending and combat corruption."

Anton said that "the International Monetary Fund found that some of the recommendations have not been applied properly, what could herald its objection and perhaps his lack of loan," stressing that "Iraq is still in front of a big problem not addressed so far, is mono-economy and the continued decline in global oil prices, which may be obliged to accept the terms of the international Monetary Fund despite the prejudice of some of those conditions. "

He Anton that "Iraq faces a real dilemma has compelled him to make other concessions paid for the Iraqi people, which forms the basis of the victim's austerity and loans," attributing the reason to "financial mismanagement of the government and the dominance of the ruling parties on the financial file, in addition to rampant corruption and lack of activating the private sector." .

In turn, the economic expert Maitham Laibi in an interview said to (long-Presse), "The countries and international organizations that have lent money to Iraq has fulfilled its obligations, while the Iraqi government has not fulfilled the other hand, including pledged more than once," pointing out that "Iraq continued open-door policy the public sector, which is heavier state treasury, despite calls from the international Monetary Fund to Trchigah and revitalize the private sector. "

Laibi He added that "the International Monetary Fund required to Iraq to improve the economic and monetary policy," he returned to "those conditions came because of the immaturity of Iraq economically and not having economical and institutions or well-established monetary policy, making the citizen a victim of economic ignorance."

It is noteworthy that the Jordanian capital Amman witnessed, on Saturday (September 10 2016), the conclusion of the first review of the standby credit agreement with the representatives of Iraq and the mission of the International Monetary Fund to supplement the IMF loan negotiations during the current year 2016.

Iraq has been received 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 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.

It was the financial advisor to the Prime Minister and the appearance of Mohammed in an interview confirmed 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, of among other conditions, the government expenses and adjusted some of the procedures relating 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 approved in (the 13th of January 2016), to finance the deficit of the Iraqi budget through clouds of hard currency reserves, which led to a reduction of the reserves from $ 59 billion October 2015 end, to 43 billion during the current year 2016 .