Abadi economic adviser: no fear of international borrowing

Monday 06 July 2015
| 14:43


Qurtas News / Baghdad

Reduce prime minister for economic affairs adviser appearance of Mohammed Saleh, Monday borrowing fears and the International Monetary Fund, returned to the country resort to borrowing after the check is in the budget deficit.

Saleh said for "Ply News", that "Iraq had previously borrowed twice from the Bank and the IMF and there was repayment of a large part of it," pointing out that "the loans provided by international institutions usually be accessible and be within agreed between the two conditions."

He stressed Saleh said that "the budget law and fill contained deficit text on the need to resort to internal borrowing or external, especially since the country is going through an exceptional situation is unprecedented in being the terrorist attacks by Daash and occupation gangs areas of land needs to finance military operations and reconstruction of liberated areas ".

Saleh and that "there is no fear on external borrowing, particularly that Iraq would not borrow from the international community banks where it impose significant benefits and obligations, but will go to international institutions and already deal with it and knows the nature of the conditions and obligations and its ability to repay."

It should be noted that Iraq had reached a month ago an agreement with the International Monetary Fund on a loan program worth $ 833 million, to contribute to the bridging of the general budget of around $ 25 billion deficit, also plans country to issue bonds at five billion dollars to cover part of this deficit.

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