********* Finance Ministry: High-level delegation from the World Bank will visit Baghdad in the near future

03/11/2014 19:33:00

BAGHDAD / NINA / The Finance Ministry announced on Monday the intention of the World Bank to send a high-level delegation to Baghdad in the near future.

Th e Ministry said in a statement today that the Finance Minister Hoshyar Zebari met with World Bank Representative in Iraq, Robert Boujoda, and discussed with him means of cooperation between the government and the World Bank relations, and the intention of the bank to send a high-level delegation to Baghdad in the near future.

The statement noted that with the presence of experts and officials of the Ministry of Finance, they reviewed projects funded by the World Bank in the country in energy, roads, water, education and vocational fields.


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High-level Aajl..ovd from the World Bank to visit Baghdad soon to coincide with warnings financial crisis in Iraq

Monday 0.03 2 October / November 2014 16:35


Iraqi Finance Ministry announced on Monday that a high-level delegation from the World Bank to visit Baghdad soon.

According to a ministry statement received by all of Iraq [where] a copy of the "Finance Minister Hoshyar Zebari met at the headquarters of the ministry today, Robert presence of the Special Representative of the World Bank in Iraq During the meeting, they discussed cooperation between the government and the World Bank relations and the intention of the bank to send a high-level delegation to Baghdad in the near future. "

The statement pointed out that "in the presence of experts and Ministry of Finance officials were reviewing the projects financed by the World Bank in the country in energy, roads, water, education and vocational areas."

The visit coincides World Bank delegation to Iraq with the Iraqi government warnings of a lack of financial liquidity may portend the future to bankrupt the state treasury with the decline in world oil prices, according to what he said Oil Minister Adel Abdul-Mahdi during hosted in Parliament last Thursday.

Abdul-Mahdi said "no need for Iraq to foreign debt because of Maldih equivalent to the budgets of four neighboring Arab countries, but the problem is the fact that the unilateral Iraqi economy depends on oil resources, which imposes on everyone to understand that the issue of continuing in this way would lead to bankruptcy."

For his part, Finance Minister Hoshyar Zebari said during the meeting that "the withdrawal of the reserve allocation of the Development Fund for Iraq during the 2012 and 2013 affected economically and consequent financial commitments to a number of decisions and laws on compensation and the ration card and electrical projects."

Zebari added that "the amount of required deficit financing 21 trillion dinars, which Maittalb adoption of new styles, including the imposition of taxes on some luxury goods or communications."

The finance minister said, "There are several proposals, including the agreement with the central bank to reduce the reserve to 7 instead of 15% and a Trade Bank of Iraq to grant the Ministry of Finance a loan of $ 3 billion and the issuance of securities, which means that the fiscal deficit by about 5 trillion dinars," pointing at the same time "there was a real crisis in the financial liquidity but to call an end to bankruptcy in the presence of about 77 billion dollars in the fiscal reserve of the Central Bank has not been touched," .

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