Talks and the Ministry of Finance and the delegation of the International Monetary Fund IMF supports Iraq with the help of a financial emergency to cope with the current crisis

Author: AHF
Editor: AHF, RS
04/21/2015 19:00



Long-Presse / Baghdad

Ministry of Finance announced on Tuesday, discuss the financial crisis of Iraq with a delegation from the International Monetary Fund, and as pointed to agree on the Fund to provide emergency financial assistance for Iraq to reduce public expenditure, confirmed talks with IMF officials to stand on the government's use of funds SDRs in budget 2015.

The Finance Ministry said in a statement received (range Press), a copy of the "technical and detailed discussions took place yesterday, in the presence of the Minister of Finance and the Governor of the Central Bank and the Director General of the budget and general manager of public debt and general manager of the Iraqi Fund for External Development with the International Monetary Fund officials and official team Iraq in the Fund to crystallize Help Fund for Iraq in better current financial crisis. "

The ministry said "it was agreed to by the Fund to provide emergency financial assistance within the government and Ministry of Finance plans to reduce public expenditure."

The statement continued, "The Iraqi delegation held talks later with the legal department and the Department of Accounting at the IMF officials to stand on the use of the government and the Ministry of Finance for funds SDR allocation in the 2015 budget."

Iraq complain of weak financial revenues due to lower oil prices and increased military expenditures, which side came on her head, making the government resorting to austerity as one of the solutions adopted to meet the country's economic situation started.

The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.


http://www.almadapress.com/ar/news/47414/صندوق-النقد-الدولي-يدعم-العراق-بمسا

Finance Minister held a number of technical meetings with a number of subsidiaries of the International Monetary Fund IMF financial institutions



Monday April 20, 2015



Contract Finance Minister Hoshyar Zebari and the ministry delegation today April 19, 2015, Meeting of art with Multilateral Investment Guarantee institutions MIGA sides of the Fund.
During the meeting with the President and Executive Vice President Ms. agent Ku Honda and FAO experts, the minister stressed the importance of the institution of the guarantees for future projects in Iraq and lower prices imposed on investment projects in Iraq to help it develop and encourage the private sector.



The delegation is not really a meeting with the Executive Director and Vice President of the International Finance Corporation IFC, which provides support for private investors to complete their projects in the country.
The Minister student visited a number of staff of the institution in Iraq and support Iraq to organize religious tourism operation in the field of infrastructure and facilities, religious visits.


http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=231

Concluding talks with the International Monetary Fund
Tuesday April 21, 2015


Held today, April 20, 2015, technical and detailed talks with the International Monetary Fund officials and team officials in Iraq Fund to help crystallize Fund for Iraq astray in the current financial crisis.

It was agreed that the fund to provide emergency financial assistance within the government and Ministry of Finance plans to reduce public expenditure, and the meeting was attended by the Minister of Finance and the Governor of the Central Bank and the Director General of the budget and general manager of public debt and general manager of the Iraqi Fund for External Development.




The Iraqi delegation held talks later with the legal department and the Department of Accounting at the IMF officials to stand on the use of the government and the Ministry of Finance for funds SDR allocation in the 2015 budget.


http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=234

The Ministry of Finance assured: Iraq will exceed state austerity and the salaries of the staff locked
2015/4/22 11:26



The Ministry of Finance assured: Iraq will exceed state austerity and the salaries of the staff locked
[Baghdad-where]

The Ministry of Finance confirmed Iraq's ability to overcome the crisis and austerity resulting from the decline in crude oil export revenues.

Said Undersecretary Fadel prophet told all of Iraq [where] "Do not fear the case of austerity but there is a drop of oil revenues greatly impact on the budget, however, things are under control, and to name the things necessary for the country."

He pointed out that "the financial situation is difficult, but this does not mean that Iraq is unable to overcome the crisis or to pass lean years", adding that "the Ministry of Finance has special policies to control the situation."

The new official in the Ministry of Finance, "confirmed his ministry to secure the employees' salaries and there is great fear that this aspect despite the fact that the existence of the problem represented by lower oil revenues."

The Finance Minister, Hoshyar Zebari, said on 26 February last, that "there is action.

We have seen the results and where we can cross the current financial crisis in the country," adding that "the fiscal deficit, which Chksnah in the budget a scheme and not actually, an estimated 25 trillion dinars and try financed through domestic borrowing and that any rise in oil prices above the rate at which we set in the budget and the $ 56 a barrel will reflect positively on the want us. "

He also stressed the Prime Minister Haider al-Abadi, hosted by the House of Representatives on 25 February that "the economic and financial situation will be controlled well in the coming months."



Iraq plans to request emergency funding of $ 400 million to $ 700 million from the International Monetary Fund, while the government has taken a decision to issue government bonds worth $ 5 billion, and it continues to negotiate on their own terms.

And pass the country in a state of fiscal austerity and a crisis in the provision of cash called on the government to think about and study to extend the payment of staff salaries period to forty days instead of the month and the imposition of several taxes to cover the deficit in Almoisna.


http://www.alliraqnews.com/modules/news/article.php?storyid=2324