Parliamentary economy: loans recent impeccable has gone on investment projects

Business & Finance

Economy News / Baghdad ...

Praised the member of the Committee of Economy parliamentary Najiba Najib, Wednesday, fiscal-policy for Iraq during the current phase, the unexpected lack of borrowing Iraq any payments in future fiscal years and repay it debt that continued implementation of the plans that have been developed under the supervision of the International Monetary Fund, while considered that "intimidation case" debt It is part of the electoral attempts.

She said Najib in an interview, "the Iraq three types of debt, the first of the former regime's debt and the consequences of previous wars, amounting to nine billion dollars, the second is the Paris Club debt and $ 14 billion in addition to the legal claims of the former regime time and a total of $ 45 billion." indicating that "the new debt came from foreign and domestic loans, including $ 30 billion, the Central Bank of Iraq and approaching the amount of which foreign loans for the period from 2005 until now."

Najib added, that "the recent loans impeccable has gone on investment projects that will bring in future benefits to the physical and service sides of the electricity and sanitation, infrastructure and railways, Construction and Housing and the benefits of a few sectors."

She said, "The loan is within the amount provided by the International Monetary Fund is five billion and $ 400 million will be received in three years," indicating that "it is through the full guarantee from the IMF Iraq could get grants, financial loans under an agreement signed in 2016 with the The international Monetary Fund, called the (SBA), the financial paybacks of Iraq of 18 billion and 300 million dollars. "

Najib pointed out that "the International Monetary Fund receives financial reports every three months on the disbursements of funds, which prevents any financial waste or manipulation of such funds being that gets lose Iraq and the international loan and all other grants are expected access of other countries," pointing out that "most of the loans be paid for many years to exceed ten years and up to 30 years and the benefits of a few. "

They pointed out that "there are new policies are drawn to overcome the failures of the previous budgets, explosive and if applied in the correct format and within the follow-up and supervision of the IMF, Iraq is not going to borrow the next budgets but on the contrary will be able to start paying the current loan incurred by him", warning that "repetition of past mistakes the cause of the neglect of the rights of the Kurdistan region allocated to foreign investments to loans, although the percentage is clear for the region is 17%, but the province has not received any amount of them so far, despite the economic and security crisis afflicting the region and the need to redress. "

And showed Najib, said that "there are positive points are not her attention, including dependence on imports started to become less whether the agricultural sector after the arrival of some of the material to self-sufficiency, including sugar or through the revitalization of the industrial sector areas of sewing clothes or food oil industry or print within the country." , reducing the "case of intimidation of debt, they represent a part of the electoral attempts."