*********** Shaways discuss with World Bank delegation finance quality projects and confirms: government is serious about achieving political stability

Monday, October 10 2 / November 2014 16:57



[Baghdad-where]

Search Rose Nuri Shaways, Deputy Prime Minister and Chairman of the State Economic Commission today with a delegation from the World Bank, who is visiting Iraq is currently the economic situation in Iraq and ways to finance them.

A statement by the Office of Shaways received by all of Iraq [where] a copy of it, "it was discussed during the meeting, the subject of the implementation of the cooperation with Iraq strategy and support the development process after the formation of the new Iraqi government in order to implement this strategy on the basis of the Iraqi priorities and take advantage of the World Bank's experience in the world of work with countries emerging from crises and wars. "

The Deputy Prime Minister, according to the statement "on the issue of the need to create an internal political stability and take advantage of the positive atmosphere surrounding the formation of the new government and push the process further understandings and political consensus down to the security and political stability of the firm," adding that "the government is serious in traffic in this area."

The statement pointed out that "the two sides stressed on identifying some of the projects that the World Bank can be financed with the importance of choosing quality projects so that there will be concrete achievements on the ground to win the confidence of citizens and rebuild the trust between the citizen and the government."

He also touched on the Deputy Prime Minister and a delegation of the World Bank "to the importance of the private sector and its role in the development process and the need for the private sector to be serious and a real partner with the public sector, and must be the development of this sector to be able to take real and serious role in the overall process of sustainable development."

The Intergovernmental Economic Commission announced last Thursday that it has taken many of the economic and financial decisions that will boost the economy, investment and development forward for the service of the public interest ". Without that describes what these decisions and nature.

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.

He said Abdul-Mahdi hosted in 30 of the last month's hearing "no need for Iraq to foreign debt because of his resources equivalent to the budgets of four neighboring Arab countries, but the problem is the fact that the unilateral Iraqi economy depends on oil, which imposes on everyone to understand that the issue continue this way will lead to bankruptcy. "

For his part, Finance Minister Hoshyar Zebari during the same meeting that "the withdrawal of the observed from the Development Fund for Iraq reserves during 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," .


http://www.alliraqnews.com/2011-04-18-02-57-37/154584-2014-11-10-13-57-55.html