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Iraq is about to apply for a loan from the International Monetary Fund
Tuesday 05 May 2015 | 13:54
The government has projected a deficit of about $ 25 billion this year's budget in sizes up to about one hundred billion
It is likely to submit the loan through rapid funding mechanism and let loose on the period between forty to sixty months
IMF announced that Iraq's request for financial assistance, pointing out that it may be agreed to loan $ 800 million in a matter of weeks.
The director of the Middle East and Central Asia Department Fund Masood Ahmed "will work committees in this regard in the coming weeks .. hope to reach an agreement relatively soon, "explaining that he is likely to provide the loan through rapid funding mechanism, and repaid over a period of between forty to sixty months.
The government has projected a deficit of about $ 25 billion this year's budget in sizes up to about a hundred billion.
may contribute IMF loan to ease the pressure and help the government to funding from other sources measure by enhancing investor confidence. Baghdad has said it plans to issue five billion dollars in bonds, which is the first international version nine years ago.
could pave the loan way to get Iraq on larger loans from the International Fund for when you need a package, but such loans may require greater commitments on economic policies adopted.
, referring to the The Finance Minister Hoshyar Zebari said last week that Baghdad will seek to obtain sovereign credit rating to facilitate the issuance of bonds. The government is about application procedures or working on the preparation procedures include asking local currency bonds to banks and the imposition of taxes on some consumer goods or cut public sector wages.
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Tuesday 05 May 2015 | 13:54
The government has projected a deficit of about $ 25 billion this year's budget in sizes up to about one hundred billion
It is likely to submit the loan through rapid funding mechanism and let loose on the period between forty to sixty months
IMF announced that Iraq's request for financial assistance, pointing out that it may be agreed to loan $ 800 million in a matter of weeks.
The director of the Middle East and Central Asia Department Fund Masood Ahmed "will work committees in this regard in the coming weeks .. hope to reach an agreement relatively soon, "explaining that he is likely to provide the loan through rapid funding mechanism, and repaid over a period of between forty to sixty months.
The government has projected a deficit of about $ 25 billion this year's budget in sizes up to about a hundred billion.
may contribute IMF loan to ease the pressure and help the government to funding from other sources measure by enhancing investor confidence. Baghdad has said it plans to issue five billion dollars in bonds, which is the first international version nine years ago.
could pave the loan way to get Iraq on larger loans from the International Fund for when you need a package, but such loans may require greater commitments on economic policies adopted.
, referring to the The Finance Minister Hoshyar Zebari said last week that Baghdad will seek to obtain sovereign credit rating to facilitate the issuance of bonds. The government is about application procedures or working on the preparation procedures include asking local currency bonds to banks and the imposition of taxes on some consumer goods or cut public sector wages.
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