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Finance: The program is not accustomed to expose the obligations of the government over salaries
11/12/2015 0:00
BAGHDAD - A follow-up just Hammoud,
at a time when agreed by experts from the International Monetary Fund, during a series of meetings held in the Jordanian capital Amman with a delegation from the government, the implementation of the program that Iraq through the process of correcting the financial situation of the country assured Iraq that the agreement to Aahdv exposure to commitments Financial government about the employees and retirees' salaries.
According to the International Monetary Fund said in a statement, received «morning» copy of it, that this program is designed to contain public spending in line with revenue and sources of available funding, and works on spending cuts non-oil first by 4 percent of gross domestic product Non-oil during the period between 2014-2016.
It was under the program, which Sitapah experts from the Fund, to reach agreement on measures to strengthen public financial management and the fight against money laundering and terrorism financing measures, and measures relating to the stability of the
sector's financial.
The statement, that Iraq is facing a set of challenges, notably the war on terror, which put pressure on the country's resources, and launch new waves of internally displaced persons, as well as the challenge posed by falling oil prices and its impact on the balance of the Iraqi payments and the state budget, which depend primarily on oil imports.
and gave an optimistic vision of the situation in the country despite the challenges mentioned as predicted that gross domestic product will grow by 1.5 percent this year due to the increase
in oil production in the southern regions and the province of
Kurdistan.
The statement said the current account deficit of the balance of payments will rise to up to 7 percent of gross domestic product for 2015, as The foreign exchange reserves, which amounted to $ 59 billion in October this year, could fall to reach the equivalent of nine months of imports of goods and services by the end of
the year.
Among Christian Gooch, head of the IMF delegation, who met with Iraqi officials, said the program will be presented to the management Fund by early next year, adding that this program will allow the Iraqi authorities to establish a positive track record of achievements, enabling it to obtain financing arrangement from the Fund.
The Fund mission experts, had met with Finance Minister Hoshyar Zebari, and the Governor of the Central Bank on the Keywords and officials in the ministries of planning and finance, oil and central financial control and representatives of banks and
government.
For its part, the Ministry of Finance that «Iraq agreed with the IMF, which concluded on Tuesday evening in the Jordanian capital Amman on monitoring fund experts Programme (STAFF-MONITORED POGRAM (SMP financial and economic policies in the the country for the remainder of fiscal year 2015 and for the year coming in 2016 ».
He said a ministry statement« morning »received a copy of the« agreement, which came in the form of a memorandum of understanding refers to the implementation of the program in the timelines quarterly and the letter of intent, where the aim of the actions that have been agreed to standards to maintain the stability of the financial sector »,
adding that« experts monitoring program
Fund SMP to Aeshetml to provide any
funds, financial loans to Iraq, but Aahdv program to exposure to the obligations of the Malian government about the staff and the salaries of retirees and social obligations to the social protection network
and displaced persons ».
He pointed out that «agreement is an important step in strengthening Iraq's international status in the global financial markets and improve the status and classification of credit the country and opens the way for Iraq to get loans
finance from the international financial institutions and countries
and banks».
Iraq has held on November 8 financial and technical talks between the government delegation for representatives of the financial, oil and planning ministries and the central bank with senior experts of the International Monetary Fund IMF officials to study the country's financial and economic situation and ways to support
and to support the fund.
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