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Iraq's share in the IMF
Economical 11/06/2024
When Iraq announced the full payment of its debts to the International Monetary Fund last May,
Reuters quoted the Fund as saying that
Iraq is facing internal imbalances that have been exacerbated by the
large financial expansion and
low oil prices, and that
it needs to gradually correct its public financial conditions to achieve debt stability in the medium term and restore... Build reserves.
Muhammad Sharif Abu Maysam
At the same time, and despite the expansion of public financial management with the aim of achieving significant increases in growth rates, the Ministry of Planning announced a decrease in inflation rates from 7.5 percent to 4 percent, which is a positive precedent that had not happened before and is considered for those in charge of monetary and financial policies.
The Central Bank said that the
cash reserves exceed 110 billion dollars and that the
country’s gold reserves amounted to approximately 150 tons.
The full repayment of the country’s debt to the International Monetary Fund, and the
decrease in the inflation rate along with the
increase in cash reserve rates,
were indicators of a major shift in economic policies,
not because the amount of debt was large, as it exceeded about eight billion dollars, but because such debts are usually conditional. In the context of the so-called economic reform program that aims to privatize state functions and link the country’s fate to the policies of the creditor parties and those behind them,
it has been known globally that the governments that can get rid of the burden of the debt of the International Fund and the World Bank are the most successful in
managing the affairs of their countries and
implementing their programs related to supporting economic stability. Overall and
implementing the necessary financial reforms,
support for the ration card program was not only a direct cause of reducing inflation rates, as
other factors related to monetary and financial policies,
limiting parallel markets, and the flow of foreign currency while
supporting the local product contributed to achieving this, and thus the
increase in the rate of The country's gold reserves are a
tool to cover the local currency and a
safe way to hedge against economic fluctuations and security tensions taking place in the world and the region.
Accordingly, those responsible for the economic policy files prove their success, and
it is our duty to point out these successes, just as it was our duty to always point out the weaknesses and stumbling points with the aim of monitoring and correcting, as the vision presented by the IMF regarding the conditions of public finances and debts and rebuilding reserves has proven to be inaccurate.. And
here is Iraq today, intending to increase its share in the International Monetary Fund by the equivalent of 1.45 trillion dinars, in a way that
supports its voting power within the fund, and
contributes to attracting investments and
creating a promising business environment and real development, and thus
addressing the problem of inflation in the labor market and
implementing the provisions of the government program.
https://alsabaah.iq/105468-.html
Economical 11/06/2024
When Iraq announced the full payment of its debts to the International Monetary Fund last May,
Reuters quoted the Fund as saying that
Iraq is facing internal imbalances that have been exacerbated by the
large financial expansion and
low oil prices, and that
it needs to gradually correct its public financial conditions to achieve debt stability in the medium term and restore... Build reserves.
Muhammad Sharif Abu Maysam
At the same time, and despite the expansion of public financial management with the aim of achieving significant increases in growth rates, the Ministry of Planning announced a decrease in inflation rates from 7.5 percent to 4 percent, which is a positive precedent that had not happened before and is considered for those in charge of monetary and financial policies.
The Central Bank said that the
cash reserves exceed 110 billion dollars and that the
country’s gold reserves amounted to approximately 150 tons.
The full repayment of the country’s debt to the International Monetary Fund, and the
decrease in the inflation rate along with the
increase in cash reserve rates,
were indicators of a major shift in economic policies,
not because the amount of debt was large, as it exceeded about eight billion dollars, but because such debts are usually conditional. In the context of the so-called economic reform program that aims to privatize state functions and link the country’s fate to the policies of the creditor parties and those behind them,
it has been known globally that the governments that can get rid of the burden of the debt of the International Fund and the World Bank are the most successful in
managing the affairs of their countries and
implementing their programs related to supporting economic stability. Overall and
implementing the necessary financial reforms,
support for the ration card program was not only a direct cause of reducing inflation rates, as
other factors related to monetary and financial policies,
limiting parallel markets, and the flow of foreign currency while
supporting the local product contributed to achieving this, and thus the
increase in the rate of The country's gold reserves are a
tool to cover the local currency and a
safe way to hedge against economic fluctuations and security tensions taking place in the world and the region.
Accordingly, those responsible for the economic policy files prove their success, and
it is our duty to point out these successes, just as it was our duty to always point out the weaknesses and stumbling points with the aim of monitoring and correcting, as the vision presented by the IMF regarding the conditions of public finances and debts and rebuilding reserves has proven to be inaccurate.. And
here is Iraq today, intending to increase its share in the International Monetary Fund by the equivalent of 1.45 trillion dinars, in a way that
supports its voting power within the fund, and
contributes to attracting investments and
creating a promising business environment and real development, and thus
addressing the problem of inflation in the labor market and
implementing the provisions of the government program.
https://alsabaah.iq/105468-.html
