Specialists: international banks may lend to apologize for Iraq

01/23/2016


BAGHDAD / JD / .. after the decline in oil prices to unprecedented levels, and the absence of a prudent economic policy read the economic and financial future of the country by successive governments, have warned a number of specialists and observers of the financial and economic vulnerability of the country to the financial bankruptcy and the inability of the government to pay the salaries of the affair employees and retirees to the lack of sufficient cash flow in light of the low world oil prices, Marjaheen the arrival of oil prices to below $ 10 a barrel, as pointed out that international banks and friendly countries may apologize for lending to Iraq to cope with its financial crisis because of the lack of real assurances the ability of the Iraqi government to repay debt in the future.

He says a member of the economic and investment commission deputy Almamori proof, that Iraq will go through a severe financial crisis during the next two months, which may lead to a lack of staff salaries the timing of schedule, because of low world oil prices.

He Mamouri told / JD /: that the solutions the government of the current financial crisis and processors and threats to the country does not do any good, including external borrowing, which may not be achieved because there is a crisis of confidence between the Iraqi government and international banks and even friendly countries of Iraq, as Iraq may not be able to pay its debts in the future for not the existence of an integrated infrastructure in addition to the lack of productivity of vital sectors can be an alternative to oil, such as agriculture, industry and tourism, as well as who is waging war against Iraq and the terrorist gangs that need to be big money.

He continued, so the international banks apologize for Iraq if he asked her to lend to face the financial crisis or to fill the budget deficit, calling on the government to resort to other alternatives other than oil, including a focus on productive sectors such as industry, agriculture and tourism as well as the awareness of citizens and instil confidence in it in order to deposit his money in Iraqi banks on the grounds that there is also a crisis of confidence between the government and local banks on the one hand and between the Iraqi citizen on the other.

The member of the parliamentary Economic Committee on the government to invest the border crossing points and activating the levies for some service organizations, as well as fees and taxes.

As a member of the Finance Committee MP Ahmad Rashid stressed that "the economic situation may be confusing but bridging the fiscal deficit is a real dilemma, noting that" there are several measures of the government to overcome this crisis and is now in the process of study, including raising taxes and the value of the currency for the purpose of bridging the budget deficit .

He told / JD / "The government is going to have all the answers and simple proportions even not be the there are gaps or heavy burden on the citizen.

He noted that "the country to the brink of bankruptcy as a result of the financial crisis and low oil prices," likely the arrival of oil prices below $ 10.

It is noteworthy that, oil prices witnessed over the past week, a remarkable collapse which recorded the lowest level over the past 12 years since I arrived last Friday to $ 25 a barrel for the OPEC basket of crudes and less than $ 30 for Brent.

The Office of the Prime Minister Haider al-Abadi, said earlier that the government continues to search for sources of funding out of the economic crisis, including internal and external borrowing and taxation and activating the customs tariff and selling bonds, international and internal subscription and implementation of projects on credit.

For its part, the Supreme religious authority warned of the collapse of the economic situation in the country, stressing that successive governments have wasted financial resources without the benefit them economically.

The representative of the religious authority in the province of Karbala, Ahmed net during his speech at the Friday prayer sermon, that "everyone knows that Iraq has economic and financial elements of a strong state and what God blessed him of Yes various whether the potential of the minds and the arms of his sons or natural wealth in the ground and the face of it, but the successive governments of the country for decades did not work to harness this potential to serve the people and to provide a decent life for him, but most of its financial resources wasted in successive freaks and temporary dictators wars. "

He said net "in recent years, despite emitted governments of free elections, but the situation has not changed for the better in a lot of areas, but increased the suffering of the citizens, many aspects of the Poor management and broad scale financial and administrative hand-corruption and security situations deteriorating the other hand, was prevented from investment potential of the country and financial resources for the sake of his children and their happiness service.

" He called on the government to the need to find real alternatives and plans to address the financial crisis. / End / 8 /


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