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Economic storms threatening to bankrupt Iraq and a number of Middle East countries ... and the International Monetary Fund confirms this
31/10/2015 10:20
BAGHDAD
Uncertain future of the economy of vast land and the land of oil and gas and a large bankruptcy threatens treasury Iraq after less than 5 years, that was the last report of the International Monetary Fund, which has proved the bankruptcy of Iraq, as a result of economic and political ignorance that led by former and current Iraqi government that will lead Iraq into an economic abyss and social will result announced shortly bankruptcy Iraq as a result of ill Treasury resource management, waste and poor planning and improvisation in decision-making and not to anticipate the global economic variables that began to appear in the world.
Iraq experts in economic affairs differed in opinion of them confirms that Iraq will not stand up to these economic storms, which lacks the elements that make it stand up for a long time and which will not exceed the best of its next three years, and some of them is an international report from the door of pessimism and without hard.
Who specializes in the management of state institutions in crisis - Harvard University, Ali Jabbar Furaiji, warned of a sharp decline in growth of economic Iraq in 2016 and the collapse and bankruptcy of the budget, because of the continuing decline in world oil prices uncontrolled, which exceeded / 65% / of prices rates of previous years .
Furaiji said, "The recent budget of the Iraqi state did not disturb the growing deficit dramatically and frightening rates, indicating that, and the steps the government attempts to cover this deficit is part of the complexity of the problem and Tvaqmadtha".
He said, "The sharp decline in economic growth rates in Iraq for 2015 and will be followed by falling the most, which is expected in 2016 due to the continuing decline in world oil prices uncontrolled, which exceeded / 65% / of prices rates in previous years and this decline drawing shadows and clear Features Iraqi economy, pointing out that "Iraq has lost almost 65% of the general budget rates due to the decline and adoption entirely on the export of oil - which is facing a storm volatility and problems between the center and the region and fighting to eradicate terrorism, corruption and continuous wastage in the Iraqi state institutions."
He Furaiji, that "bankruptcy or economic collapse indicators began to clear through the World Bank refused to approve a loan for Iraq two months or more before and try the new Iraq, which is seeking to borrow $ 1.24 billion Dolarmen the International Monetary Fund (IMF ) - Indicating that there are still rounds of discussion by the International Monetary Fund team to this request is likely rejection - because of the request of the Department of the International Monetary Fund surveillance of economic policies in Iraq, which does not bode any good or hope. "
He said the "abandonment of the Ministry of Finance for its proposal confusing in international bond issue worth 6 billion to support the general budget - because of the high value of what would have on the state of payments of the value of these shares, will record a negative impact on the Ministry of Finance and State institutions plans in support of the general budget."
In what was described economic analyst lion Mohammed Ali International Monetary Fund report that predicted the bankruptcy of Iraq within five years Balmichaim more than reality.
He said Ali, said that "the report was not based on objective grounds completely, but he can not neglect its data which confirms that Iraq is a drain on their resources quickly and does not hold any aspect of sustainable development in whole and its dependence on oil wealth puts it, subject, however, external factors and is unable to manage its resources in sound. "
He stressed the need to adopt policies that encourage the development of realistic alternatives within the agreed time perspective and focus on religious tourism and transport sectors closest solutions within the current time horizon. "
He added that "Iraq could emerge from the tutelage of world oil prices if there good governance of the resources of the other, but the continuation of the administrative, financial and political corruption in the country prevents it, noting only that" any economic reform must be preceded by political reform and real war on the financial and administrative corruption because he its existence will not be able to pass any reform policy. "
On the other hand counting expert in economic affairs, Raad Twigg, report the International Monetary Fund as a pessimistic analysis and static par excellence.
Said Twigg, the World Bank predicted the bankruptcy of some oil-producing countries such as Iraq, Libya and Algeria in less than five years, and before that the United States predicted the collapse of the Iraqi economy, and in the beginning it is pessimistic and static analysis of distinction and assumes that the variables as they are on them, he said, adding, that the economy does not seen as a case absolute and abstract digital, the important economy reached its simplicity it is in a state of constant boiling and the son of his watch, but we should not underestimate such speculation nor a hammer to hit our heads, we must exercise our heads on the so tireless and tire hands that carry those hammers. "
He called Twigg, the government in Iraq to listen to the largest possible number of economists and the heart of the economic table and exposing the Iraqi economy to a major surgery and even endoscopy economic dominant economic decisions become not keep up stage to the expected risk and not to rely on him can not be achieved. "
He said Iraq, Libya and some Middle Eastern countries will go bankrupt after less than five years because of falling oil prices, according to what was said by the International Monetary Fund. As some of the other Middle Eastern countries such as Kuwait, Qatar and the United Arab Emirates, she moved away from its dependence on oil to other resources after the price has fallen by half in less than a year.
However, the large deficit appeared in the budgets of countries such as Iraq, Iran, Oman, Algeria, Saudi Arabia, Bahrain, Libya, Yemen, and this means that these countries did not work to diversify their sources of income or did not owe and therefore will not have any money after less than 5 years. It previously mentioned countries Iran may be able to survive because of its heavy reliance on oil, unlike Libya and Yemen.
It classifies the International Monetary Fund for Iraq, Libya and Yemen as fragile states because of territorial disputes. This has led to a decline in gross domestic our per- and high inflation rate. The Fund also warned that all oil-exporting countries to cope with low oil prices.
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31/10/2015 10:20
BAGHDAD
Uncertain future of the economy of vast land and the land of oil and gas and a large bankruptcy threatens treasury Iraq after less than 5 years, that was the last report of the International Monetary Fund, which has proved the bankruptcy of Iraq, as a result of economic and political ignorance that led by former and current Iraqi government that will lead Iraq into an economic abyss and social will result announced shortly bankruptcy Iraq as a result of ill Treasury resource management, waste and poor planning and improvisation in decision-making and not to anticipate the global economic variables that began to appear in the world.
Iraq experts in economic affairs differed in opinion of them confirms that Iraq will not stand up to these economic storms, which lacks the elements that make it stand up for a long time and which will not exceed the best of its next three years, and some of them is an international report from the door of pessimism and without hard.
Who specializes in the management of state institutions in crisis - Harvard University, Ali Jabbar Furaiji, warned of a sharp decline in growth of economic Iraq in 2016 and the collapse and bankruptcy of the budget, because of the continuing decline in world oil prices uncontrolled, which exceeded / 65% / of prices rates of previous years .
Furaiji said, "The recent budget of the Iraqi state did not disturb the growing deficit dramatically and frightening rates, indicating that, and the steps the government attempts to cover this deficit is part of the complexity of the problem and Tvaqmadtha".
He said, "The sharp decline in economic growth rates in Iraq for 2015 and will be followed by falling the most, which is expected in 2016 due to the continuing decline in world oil prices uncontrolled, which exceeded / 65% / of prices rates in previous years and this decline drawing shadows and clear Features Iraqi economy, pointing out that "Iraq has lost almost 65% of the general budget rates due to the decline and adoption entirely on the export of oil - which is facing a storm volatility and problems between the center and the region and fighting to eradicate terrorism, corruption and continuous wastage in the Iraqi state institutions."
He Furaiji, that "bankruptcy or economic collapse indicators began to clear through the World Bank refused to approve a loan for Iraq two months or more before and try the new Iraq, which is seeking to borrow $ 1.24 billion Dolarmen the International Monetary Fund (IMF ) - Indicating that there are still rounds of discussion by the International Monetary Fund team to this request is likely rejection - because of the request of the Department of the International Monetary Fund surveillance of economic policies in Iraq, which does not bode any good or hope. "
He said the "abandonment of the Ministry of Finance for its proposal confusing in international bond issue worth 6 billion to support the general budget - because of the high value of what would have on the state of payments of the value of these shares, will record a negative impact on the Ministry of Finance and State institutions plans in support of the general budget."
In what was described economic analyst lion Mohammed Ali International Monetary Fund report that predicted the bankruptcy of Iraq within five years Balmichaim more than reality.
He said Ali, said that "the report was not based on objective grounds completely, but he can not neglect its data which confirms that Iraq is a drain on their resources quickly and does not hold any aspect of sustainable development in whole and its dependence on oil wealth puts it, subject, however, external factors and is unable to manage its resources in sound. "
He stressed the need to adopt policies that encourage the development of realistic alternatives within the agreed time perspective and focus on religious tourism and transport sectors closest solutions within the current time horizon. "
He added that "Iraq could emerge from the tutelage of world oil prices if there good governance of the resources of the other, but the continuation of the administrative, financial and political corruption in the country prevents it, noting only that" any economic reform must be preceded by political reform and real war on the financial and administrative corruption because he its existence will not be able to pass any reform policy. "
On the other hand counting expert in economic affairs, Raad Twigg, report the International Monetary Fund as a pessimistic analysis and static par excellence.
Said Twigg, the World Bank predicted the bankruptcy of some oil-producing countries such as Iraq, Libya and Algeria in less than five years, and before that the United States predicted the collapse of the Iraqi economy, and in the beginning it is pessimistic and static analysis of distinction and assumes that the variables as they are on them, he said, adding, that the economy does not seen as a case absolute and abstract digital, the important economy reached its simplicity it is in a state of constant boiling and the son of his watch, but we should not underestimate such speculation nor a hammer to hit our heads, we must exercise our heads on the so tireless and tire hands that carry those hammers. "
He called Twigg, the government in Iraq to listen to the largest possible number of economists and the heart of the economic table and exposing the Iraqi economy to a major surgery and even endoscopy economic dominant economic decisions become not keep up stage to the expected risk and not to rely on him can not be achieved. "
He said Iraq, Libya and some Middle Eastern countries will go bankrupt after less than five years because of falling oil prices, according to what was said by the International Monetary Fund. As some of the other Middle Eastern countries such as Kuwait, Qatar and the United Arab Emirates, she moved away from its dependence on oil to other resources after the price has fallen by half in less than a year.
However, the large deficit appeared in the budgets of countries such as Iraq, Iran, Oman, Algeria, Saudi Arabia, Bahrain, Libya, Yemen, and this means that these countries did not work to diversify their sources of income or did not owe and therefore will not have any money after less than 5 years. It previously mentioned countries Iran may be able to survive because of its heavy reliance on oil, unlike Libya and Yemen.
It classifies the International Monetary Fund for Iraq, Libya and Yemen as fragile states because of territorial disputes. This has led to a decline in gross domestic our per- and high inflation rate. The Fund also warned that all oil-exporting countries to cope with low oil prices.
[You must be registered and logged in to see this link.]
