IMF approves loan to support the reform of the Iraqi economy program
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IMF approves loan to support the reform of the Iraqi economy program
Admin Mon Oct 10, 2016 10:17 am
Sunday, October 9, 2016 19:47
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BAGHDAD / Baghdadi Uz..aaln Chairman of the Board of the International Monetary Fund, Zhu Min, on Sunday, his council approval of the loan to support the reform of the Iraqi economy program, indicating that it was a batch of the loan to Iraq during the month of July Exchange.
Said Zhou in a report obtained / Baghdadi News / a copy of it, that "the Board of the International Monetary Fund approved a standby credit loan SBA for a period of three years for Iraq and the rights of special drawing SDR value of (3.831) billion units (5.34 billion or ratio of 230%); to support economic reform program adopted by the Iraqi government. "
"The Council was able to exchange 455 million units of Special Drawing Rights (about 634 million dollars) in July, received Iraq's push on according to the rapid financing financing tool," noting that "the International Monetary Fund today completed the first review of the second program control Fund experts SMP with Iraq, which was approved by the Director of administration in the January 12, 2016 ".
He noted that "policies implemented by the authorities to deal with those suitable impact at, in the financial field carried authorities a fair amount of fiscal adjustment policies, most of which came through the reduction of non-effective capital spending while maintaining social spending and funding policies, and in the inner area kept authorities on peg to the US dollar, which is the LED President of the economy. "
"The fiscal adjustment envisaged for the years 2016 to 2019 is suitable to relieve the pressure caused by lower oil revenues, as well as higher spending on humanitarian and security affairs, but the fiscal adjustment structure must be improved over time, in order to make room for an increase in investment spending, but about more effective ".anthy 21 / d
http://www.albaghdadianews.com/economy/item/102879-AkljD-AkDNkn-nZHADj-IkO-jEzh-kDIL-BElALv-AZHkAG-AkAjbZHAD-AkIEAjn.html
[/ltr]
[ltr]
BAGHDAD / Baghdadi Uz..aaln Chairman of the Board of the International Monetary Fund, Zhu Min, on Sunday, his council approval of the loan to support the reform of the Iraqi economy program, indicating that it was a batch of the loan to Iraq during the month of July Exchange.
Said Zhou in a report obtained / Baghdadi News / a copy of it, that "the Board of the International Monetary Fund approved a standby credit loan SBA for a period of three years for Iraq and the rights of special drawing SDR value of (3.831) billion units (5.34 billion or ratio of 230%); to support economic reform program adopted by the Iraqi government. "
"The Council was able to exchange 455 million units of Special Drawing Rights (about 634 million dollars) in July, received Iraq's push on according to the rapid financing financing tool," noting that "the International Monetary Fund today completed the first review of the second program control Fund experts SMP with Iraq, which was approved by the Director of administration in the January 12, 2016 ".
He noted that "policies implemented by the authorities to deal with those suitable impact at, in the financial field carried authorities a fair amount of fiscal adjustment policies, most of which came through the reduction of non-effective capital spending while maintaining social spending and funding policies, and in the inner area kept authorities on peg to the US dollar, which is the LED President of the economy. "
"The fiscal adjustment envisaged for the years 2016 to 2019 is suitable to relieve the pressure caused by lower oil revenues, as well as higher spending on humanitarian and security affairs, but the fiscal adjustment structure must be improved over time, in order to make room for an increase in investment spending, but about more effective ".anthy 21 / d
http://www.albaghdadianews.com/economy/item/102879-AkljD-AkDNkn-nZHADj-IkO-jEzh-kDIL-BElALv-AZHkAG-AkAjbZHAD-AkIEAjn.html
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