********* Abadi adviser: Iraq will get about 16 billion dollars to bridge the budget gap

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********* Abadi adviser: Iraq will get about 16 billion dollars to bridge the budget gap

Post  Admin on Thu Aug 24, 2017 11:35 am

News Agency Bratha 74 2017-08-24

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The Financial Advisor to the Prime Minister announced the appearance of Mohammed Saleh, on Thursday, that Iraq will receive about $ 16 billion to bridge the budget gap, indicating that the agreement to prepare for credit with the International Monetary Fund will continue until mid-2019.

Saleh said in an interview that "Iraq will get through the agreement with international organizations and the seven countries on the approximately $ 16 billion to bridge Iraq's budget gap, which is close to the financial gap in the budget estimated at 18 billion dollars."

Saleh added that "Iraq signed on July 7, 2016 with the International Monetary Fund agreement credit readiness to provide a loan of $ 5.3 billion," noting that "Iraq so far withdrew from the loan nearly two billion dollars."

He added that "the agreement with the International Monetary Fund will continue until mid-2019 and by 36 months," noting that "the loan will be a soft rate of 1.5% per annum and a repayment period of five years and a grace period of two years."

Saleh said that "the World Bank will also provide Iraq with a loan of three billion dollars, in addition to a loan from the Group of Seven industrialized countries and $ 4.2 billion, as well as the postponement of 4.6 billion dollars resulting from compensation of the war in Kuwait."

Saleh pointed out that "Iraq will implement programs and financial and monetary targets and put them in a framework that provides financial stability for Iraq and face financial and security challenges."

In July 2016, the Executive Board approved the US $ 5.34 billion credit standoff in Iraq's economic reform program.

http://burathanews.com/arabic/economic/321814

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