Government adviser: Iraq may resort to the IMF to meet the budget deficit

11/29/2014

The prime minister for economic affairs adviser to the appearance of Mohammed Saleh, said that the government may resort to borrowing from the International Monetary Fund to cover the deficit in the 2015 budget, as a result of the fall in the price of oil.

Saleh explained in a statement broadcasting Free Iraq that borrowing from the International Monetary Fund and Acer, which sets conditions for borrowing them that there will be economic reform and financial and banking, stressing that this reform is not a burden on Iraq as announced by the government within the next reformist approach.

He ruled out the economic expert Hilal Taan government had resorted to borrowing from the International Monetary Fund, and confirms that the price of oil has fluctuated get there is an increase in world oil prices over the next year and thus there may be a surplus and not a deficit in the budget.

However, the Finance Committee in the House of Representatives member Hama Rashid Ahmed warned the government to borrow from the International Monetary Fund, which puts strict financial and economic conditions and instructions, and because Iraq is going through a difficult financial status makes it difficult to bear the Iraqi individual such conditions.

Rashid said that countries borrow from the International Monetary Fund to support investment projects and not operational side, as is happening in Iraq.


http://www.iraqhurr.org/content/article/26716613.html