Iraqi talks with international banks to bridge the fiscal deficit

Iraqi talks with international banks to bridge the fiscal deficit


6/15/15

Twilight News / Search Finance Minister Hoshyar Zebari, with a number of global banks - JP Morgan and City Bank - and Deutsche Bank - a second day of negotiations in Istanbul to find the financial resources to cover the deficit in the 2015 budget.

A statement by the Iraqi finance minister reviewed the performance of the Iraqi economy under the current circumstances and the role of the federal budget for this year in cost control and enhance resources.

And it provided technical delegation accompanying his remarks to the queries raised by the representatives of the three banks and relating to activities in all economic sectors.

The meeting was attended by the prime minister for economic affairs and an expert adviser to the Ministry of Finance.

The reach of the International Monetary Fund to an earlier agreement with Iraq on the loan program worth $ 833 million is expected to help the country in support of public Malyate.

The IMF said that the program - which still needs to review by the Board of Directors next month - will help Iraq to cope with the drop in oil prices since last year and the violence related to the conflict with the organization of the Islamic state.

The Iraqi government said it suffers from a deficit of about $ 25 billion in the current year budget of about $ 100 billion.




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The reach of the International Monetary Fund to an earlier agreement with Iraq on the loan program worth $ 833 million is expected to help the country in support of public Malyate.

The IMF said that the program - which still needs to review by the Board of Directors next month - will help Iraq to cope with the drop in oil prices since last year and the violence related to the conflict with the organization of the Islamic state.