Iraq will discuss with the IMF

Financial Advisor to the President of the Iraqi government, the appearance of Mohammed Saleh, on Tuesday, announced that the Iraqi delegation, which will meet with the IMF in the coming days in Washington will discuss the development of foreign reserves.

Saleh said in an exclusive interview for “Economy News”, “The Iraqi delegation will discuss with the IMF, the implementation of the financial budget for the current year and the management of public revenue and expenditure and the financing of the fiscal deficit,” adding that it “will discuss the development of foreign reserves to ensure stability.”

He explained that “the Iraqi government succeeded in achieving economic reform, which is reflected positively on the economy,” stressing that “the benefits of the International Monetary Fund loans are very few.”

The start of the Iraqi delegation headed by the Minister of Finance Agency Abdul Razzaq Al-Issa, next Friday in Washington discussions with the International Monetary Fund and the World Bank to prepare a review of the credit agreement, which included lending Iraq $ 5.4 billion to cover the deficit in the fiscal budget.

A source in the Iraqi government refused to reveal his name for “economy News”, that “an Iraqi delegation headed by the Minister of Finance Agency Abdul Razzaq al-Issa will go to the American city of Washington this week to discuss the readiness of credit agreement signed by Iraq in 2015,” noting that “the delegation meetings with the international Monetary Fund and the World Bank will begin on Friday, the next day on April 21 and lasts for three days”.

The source added that ” the delegation includes the Minister of Finance Agency Abdul Razzaq al- Issa and Central Bank Governor Ali Keywords Financial Advisor to the Prime Minister the appearance of Mohammed Saleh, and officials from the Ministry of Finance, the Ministry of Oil and the Ministry of Planning and Oil Marketing Company (SOMO), the Central Bureau of Statistics, the Central Bank of Iraq , and representatives of the Kurdistan Regional Government, and the Office of financial supervision”.

The Iraqi delegation held with the International Monetary Fund experts discussions in Amman during the period from 5 to 17 March 2017 on Article IV consultations in 2017, and the second revision of the agreement to prepare credit(SBA) with Iraq, amounting to a 36 – month, which was approved by the Executive Board of the International Monetary Fund on July 7 2016 .

It aims to prepare the credit agreement to correct the fiscal balance and the balance of the external position, and improving public financial management, while protecting social spending. The first review was complete under the standby credit agreement on 5 December 2016.

Source: Economy News



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