************ Iraq is about to apply for a loan from the International Monetary Fund

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Tuesday 05 May 2015
| 13:54





IMF announced that Iraq's request financial assistance, pointing out that it may be agreed to loan $ 800 million in a matter of weeks.

The director of the Middle East and Central Asia Department Fund Masood Ahmed "will work committees in this regard in the coming weeks .. hope to reach an agreement relatively soon," explaining that it is likely to provide the loan through rapid funding mechanism, and repaid over a period of between forty to sixty months.

The government has projected a deficit of about $ 25 billion this year's budget in sizes up to about a hundred billion.

IMF loan to ease the pressure may contribute and help the government measure funding from other sources by enhancing investor confidence.

Baghdad has said it plans to issue five billion dollars in bonds, which is the first international version nine years ago.

The loan has been paving the way for Iraq to get larger loans from the International Fund for when you need a package, but such loans may require greater commitments on economic policies adopted.

Referring to that   Finance Minister Hoshyar Zebari told   Last week,   That Baghdad will seek to obtain a sovereign credit rating to facilitate the issuance of bonds.



The government is about application procedures or working on the preparation procedures include asking local currency bonds to banks and the imposition of taxes on some consumer goods or cut public sector wages.


http://www.alqurtasnews.com/news/99388/العراق-بصدد-طلب-قرض-من-صندوق-النقد-الدول/ar

The International Monetary Fund is considering lend Iraq $ 800 million in a manner rapid funding
05 May 2015


The International Monetary Fund (IMF), on Tuesday, to provide Iraq a request for financial aid, and as likely to reach an agreement within weeks to grant Iraq a loan of $ 800 million, predicted the arrival of aid funding rapid manner.

The director of the Middle East and Central Asia department of the International Monetary Fund Masood Ahmed in a press statement to Reuters, said that "there is a difference will work on Iraq for financial aid in the coming weeks", and expressed his hope for "a decision relatively soon reach".

Ahmed added, that "it is possible that up aid in the form of rapid funding method (RFI) and will be reported relatively little up to $ 800 million," adding that "rapid financing loan method could create long-term to develop a lending biggest program for Iraq if needed for that. "

Ahmed said that "Iraq has begun to suffer from the low international reserves," pointing out that "the Iraqi economy is likely to grow marginally this year after shrinking by 2.4% over the 2014 year."

It is noteworthy that the rapid approved funding method by the International Fund for a pattern of financial aid patterns to provide rapid financial assistance and a form of monetary policy Fund Member States offered to help in bridging the emergency needs to bridge the fiscal deficit, a loan requires repayment within a period of time ranging from three to five years.

It is noteworthy that Iraq complain of weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country which.


http://www.iraqdirectory.com/ar/2015/05/05/29660/صندوق-النقد-الدولي-يدرس-إقراض-العراق-800-مليون-دولار-بأسلوب-التمويل-السريع