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Iraqi Prime Minister, in Washington, Seeks Billions to Overcome Deficit
4/14/2015
WASHINGTON - Prime Minister Haider al-Abadi of Iraq is using his first official visit to Washington this week to Pursue Billions of dollars in loans and international Assistance as his Government Struggles with plunging oil prices and a yawning budget deficit. Mr. Abadi, who arrived here on Monday night, has a full agenda, including a meeting on Tuesday with President Obama. But a major Priority is laying the groundwork for financial support to help the Iraqi Government as it Struggles to take back territory from the Islamic State . The prime Minister plans to meet on Thursday with Christine Lagarde , the managing director of the International Monetary Fund, and with Jim Yong Kim , the president of the World Bank. He also plans to meet with senior executives from oil companies and international banks, including Citibank and Deutsche Bank. Iraq is facing a budget deficit this year of $ 22 billion, a sizable gap in a total budget of $ 105 billion. Oil revenue, which accounts for a vast majority of government income, has declined at the same time that the Iraqi government is facing the challenge of restoring essential services and rebuilding towns and cities damaged in the fighting against the Islamic State.
Iraqi officials are counting on substantial international support. That includes the ability to draw on more than $ 2.4 billion in the currencies of some of the strongest members of the International Monetary Fund and $ 2 billion in assistance from the World Bank.
Iraq would also like to obtain substantial loan guarantees from the Export-Import Bank of the United States to finance the purchase of Boeing planes for Iraqi Airways.
Mr. Abadi, who became prime minister in September, has appealed for economic support before. In a December meeting in Brussels, he asked for international help in rebuilding towns and cities that his government hoped to wrest from the control of the Islamic State.
Secretary of State John Kerry said at the time That he expected Saudi Arabia and other oil-rich Arab states to Provide most of the money, though he Indicated That the United States would Contribute. It is unclear what headway has been made toward lining up donors.
During his visit to Washington, Mr. Abadi is expected to renew his call for humanitarian assistance for newly reclaimed population centers and for the large numbers of Iraqis who have been displaced by the fighting. Mr.Also abadi may Reiterate a request he made at a January meeting in London for Western Allies to Provide Weapons on credit.
Mr. Abadi's trip comes at a pivotal moment. After retaking Tikrit, Saddam Hussein's hometown, with the help of American airstrikes, Iraq faces important questions about the course of the campaign against the Islamic State, the scale of the American effort in Iraq over the next year, and how to handle Iran's military role in training and advising Shiite militias.
Mr. Obama will be looking to see if Mr. Abadi is making good on his pledge to forge an inclusive multisectarian government. And Mr. Abadi will be looking to gauge how much support he may get from the Obama administration.
"The prime minister wants to thank the Americans but at the same time understand the scale of support he will acquire," said an Iraqi official, who insisted on anonymity because he was discussing diplomacy between the two countries.
Mr. Abadi plans to meet with Mr. Kerry and Defense Secretary Ashton B. Carter. He will also see the House speaker, John A. Boehner, Republican of Ohio; the Senate majority leader, Mitch McConnell, Republican of Kentucky; and other ranking lawmakers. He will appear at a think tank and a US Chamber of Commerce reception, and give a series of interviews.
On Tuesday, Mr. Abadi is scheduled to meet with Iraqi pilots who are being trained in the United States to fly F-16s. Iraqi officials said that 14 pilots were scheduled to be trained by September, when the Iraqi military hopes to start flying the planes in Iraq
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4/14/2015
WASHINGTON - Prime Minister Haider al-Abadi of Iraq is using his first official visit to Washington this week to Pursue Billions of dollars in loans and international Assistance as his Government Struggles with plunging oil prices and a yawning budget deficit. Mr. Abadi, who arrived here on Monday night, has a full agenda, including a meeting on Tuesday with President Obama. But a major Priority is laying the groundwork for financial support to help the Iraqi Government as it Struggles to take back territory from the Islamic State . The prime Minister plans to meet on Thursday with Christine Lagarde , the managing director of the International Monetary Fund, and with Jim Yong Kim , the president of the World Bank. He also plans to meet with senior executives from oil companies and international banks, including Citibank and Deutsche Bank. Iraq is facing a budget deficit this year of $ 22 billion, a sizable gap in a total budget of $ 105 billion. Oil revenue, which accounts for a vast majority of government income, has declined at the same time that the Iraqi government is facing the challenge of restoring essential services and rebuilding towns and cities damaged in the fighting against the Islamic State.
Iraqi officials are counting on substantial international support. That includes the ability to draw on more than $ 2.4 billion in the currencies of some of the strongest members of the International Monetary Fund and $ 2 billion in assistance from the World Bank.
Iraq would also like to obtain substantial loan guarantees from the Export-Import Bank of the United States to finance the purchase of Boeing planes for Iraqi Airways.
Mr. Abadi, who became prime minister in September, has appealed for economic support before. In a December meeting in Brussels, he asked for international help in rebuilding towns and cities that his government hoped to wrest from the control of the Islamic State.
Secretary of State John Kerry said at the time That he expected Saudi Arabia and other oil-rich Arab states to Provide most of the money, though he Indicated That the United States would Contribute. It is unclear what headway has been made toward lining up donors.
During his visit to Washington, Mr. Abadi is expected to renew his call for humanitarian assistance for newly reclaimed population centers and for the large numbers of Iraqis who have been displaced by the fighting. Mr.Also abadi may Reiterate a request he made at a January meeting in London for Western Allies to Provide Weapons on credit.
Mr. Abadi's trip comes at a pivotal moment. After retaking Tikrit, Saddam Hussein's hometown, with the help of American airstrikes, Iraq faces important questions about the course of the campaign against the Islamic State, the scale of the American effort in Iraq over the next year, and how to handle Iran's military role in training and advising Shiite militias.
Mr. Obama will be looking to see if Mr. Abadi is making good on his pledge to forge an inclusive multisectarian government. And Mr. Abadi will be looking to gauge how much support he may get from the Obama administration.
"The prime minister wants to thank the Americans but at the same time understand the scale of support he will acquire," said an Iraqi official, who insisted on anonymity because he was discussing diplomacy between the two countries.
Mr. Abadi plans to meet with Mr. Kerry and Defense Secretary Ashton B. Carter. He will also see the House speaker, John A. Boehner, Republican of Ohio; the Senate majority leader, Mitch McConnell, Republican of Kentucky; and other ranking lawmakers. He will appear at a think tank and a US Chamber of Commerce reception, and give a series of interviews.
On Tuesday, Mr. Abadi is scheduled to meet with Iraqi pilots who are being trained in the United States to fly F-16s. Iraqi officials said that 14 pilots were scheduled to be trained by September, when the Iraqi military hopes to start flying the planes in Iraq
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