The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

Go down

The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector Empty The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

Post  Admin on Sun Aug 04, 2019 7:43 am

Economy News _ Baghdad

The International Monetary Fund urged the Iraqi government on Sunday to reduce subsidies on the electricity sector, and protect the poorest and least-income groups, while recommending the need for comprehensive reform of the banking sector.

"The Executive Board of the International Monetary Fund concluded Article IV partnerships with Iraq," the IMF said in a statement received by the Economist News. "The Council saw the improvement in the Iraqi economy as encouraging, but acknowledged the serious challenges that the country still faces, .

"Council directors urged that we take advantage of improved security conditions and higher oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability and addressing long-standing social problems,"
he said.

"Building a strong framework for public finances is necessary to maintain fiscal and macroeconomic stability and to strengthen safety margins," the IMF said, adding that it supports "gradually increasing spending on reconstruction and development in parallel to improving absorptive capacity."

"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. "

The IMF called for "comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure and strengthen the supervision of large state-owned banks and implement other reforms to increase financial intermediation activities."


http://economy-news.net/content.php?id=17421

Admin
Admin

Posts : 28745
Join date : 2012-04-30
Location : Arizona

http://iraqidinar.forumotion.com

Back to top Go down

The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector Empty Re: The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

Post  Admin on Sun Aug 04, 2019 8:04 am

The International Monetary Fund urges the Iraqi government to cut subsidies on the electricity sector

2019-08-04 03:51


The International Monetary Fund urged the Iraqi government to reduce subsidies on the electricity sector, and protect the poorest and least-income groups, while recommending the need for comprehensive reform of the banking sector.

"The Executive Board of the International Monetary Fund concluded Article IV partnerships with Iraq," the central bank said in a statement. "The Council saw the improvement in the Iraqi economy as encouraging, but acknowledged the serious challenges that the country still faces."

"Council directors have urged that we take advantage of improved security and higher oil prices to implement structural policies and reforms aimed at ensuring macroeconomic and financial stability and addressing long-standing social problems," he said.

"Building a strong framework for public finances is necessary to maintain fiscal and macroeconomic stability and to strengthen safety margins," the IMF said, adding that it supports "gradually increasing spending on reconstruction and development in parallel to improving absorptive capacity."

"The need for progressive fiscal control, including containment of current spending and increasing non-oil revenues to maintain fiscal sustainability and keep debt within sustainable limits," the IMF said, adding that "the increase in the wage bill and the reduction of subsidies to the electricity sector should be priorities in spending procedures." On protecting the poorest and least vulnerable groups from financial controls. "

The IMF called for "comprehensive reform of the banking sector in order to maintain financial stability, urging the authorities to restructure and strengthen the supervision of large state-owned banks and implement other reforms to increase financial intermediation activities."


http://www.alsumaria.tv/news/81728/ط£ط±ط¨ط¹ط©-ظ‚طھظ„ظ‰-ظˆ12-ط¬ط±ظٹط­ط§-ظپظٹ-ط­ط

Admin
Admin

Posts : 28745
Join date : 2012-04-30
Location : Arizona

http://iraqidinar.forumotion.com

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum