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IMF rules out bankruptcy treasury Iraq and prepared a large loan
Follow-up - Iraq Press - October 21: A senior official at the International Monetary Fund ruled Iraq at risk of running out of cash, "bankruptcy," revealing "the intention of the IMF to grant a large loan to Iraq."
The director of the Middle East and Central Asia Department at the IMF Masood Ahmed, in a press statement, he followed / Iraq Press / "Baghdad is not currently in danger of running out of cash, because they can postpone investment projects and rely on the financing of the central bank if necessary."
He added that "the fund may give Iraq a large loan in 2016 to help him achieve financial stability at a time when Baghdad suffer because of falling oil prices and the war being waged against al Daash".
Ahmad noted, that "a team from the Fund will discuss with Iraqi officials early next month ways of setting up a program to monitor the Fund's experts Baghdad in which the economic policies of the country."
"We hope to build a record of policy implementation will be the basis for another program funding from the International Monetary Fund later in 2016," adding that "the new IMF loan will fold" emergency funding by the Fund it has agreed in July this year and the $ 1.24 billion " .
But he said that "the government needs to develop a clear and comprehensive plan to reform its finances, although the International Monetary Fund program may help in that."
Ahmed said he "believed that the authorities desire to move forward with reforms but stressed that any changes in policy should be" sustainable socially and politically "and then the IMF would not seek to impose options.
He added that "Iraqi Prime Minister Haider al-Abadi, Minister of Finance and the Governor of the Central Bank are all aware that they need to take difficult decisions."
There will come a large loan from the IMF conditions related to economic policy, including the steps taken by Baghdad to cut energy subsidies and the reform of state-owned companies, moves that may be politically difficult. End
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