Iraq agrees to IMF monitoring program as precondition to loan

Source: Reuters – Tue, 10 Nov 2015 22:52 GMT

Author: Reuters

BAGHDAD, Nov 11 (Reuters) – Iraqi authorities agreed on Tuesday to have the International Monetary Fund monitor Baghdad’s economic polices as a basis for a possible funding program in 2016, the IMF said in a statement.

Mission chief Christian Josz said the Staff-Monitored Program would aim to rein in spending and reduce Iraq’s budget deficit, which is expected to approach 12 percent of economic activity next year.

The move, he said, “will allow the Iraqi authorities to build a track record for a possible Fund financing arrangement.”

An IMF loan would help the major OPEC oil exporter stabilise its finances as it grapples with lower oil prices and costs associated with the fight against Islamic State militants.

A senior IMF official told Reuters last month the new loan would be a “multiple” of the $1.24 billion in emergency funding which the IMF agreed to provide in July.

Financial pressures on Iraq have become so heavy that Baghdad halted a plan to issue $2 billion of international bonds last month because investors were demanding too high a yield.

A big new IMF loan to Iraq would come with policy conditions, such as steps by Baghdad to reduce energy price subsidies and reform state-owned enterprises – steps which could be politically difficult.

Prime Minister Haider al-Abadi is already struggling to sustain support for political reforms he announced in August aimed at reducing corruption and waste.

Josz said the IMF expected Iraq’s gross domestic product (GDP) to grow by 1.5 percent this year on higher oil production, and the current account deficit to expand to 7 percent of GDP.

He predicted foreign exchange reserves, which amounted to $59 billion at the end of last month, would decline but remain high enough to cover nine months of imports through the end of the year. (Reporting by Stephen Kalin; Editing by Christian Plumb)


Zebari: Iraq issued bonds worth 7 trillion dinars next year

History of edits:: 2015/11/10 23:11 • 20 visits readable
Zebari: Iraq issued bonds worth 7 trillion dinars next year
Finance Minister, Hoshyar Zebari, announced that the government will be issued next year, 2016 bonds worth seven trillion Iraqi dinars to fill the budget deficit will be five of them raised in the domestic market and the rest in the international mark

R.E. Martinez

Iraq signed with the International Monetary memorandum of understanding to monitor the financial and economic policy

History of edits:: 2015/11/10 21:4551 visits readable
Iraq has signed with the International Monetary Fund memorandum of understanding conducive to monitor the financial and economic policy.
And it announced that the Iraqi Ministry of Finance said in a statement received by the agency all of Iraq [where] a copy of it, the conclusion of the “evening in the Jordanian capital Amman talks, Iraqi and consultations with the IMF two sides reached an agreement on control of IMF experts program STAFF-MONITORED POGRAM (SMP) fiscal policies and economic in the country for the remainder of fiscal year 2015 and for the year coming in 2016.
“The show,” The program aims to assist Iraq in reforms in the foreign exchange policy, public financial management and banking supervision.
“It was also agreed According to the statement,” a memorandum of technical understanding to implement the program in time timings quarterly and the letter of intent, and the aim of the actions that have been agreed Ay standards to maintain the stability of the financial sector.
“The statement pointed out that” During the past ten days technical talks between the Fund and of the Middle East Department representatives, Central Asia and experts of financial and oil and Planning Ministries and the Central Bank of Iraq. ” .
participated in the final talks, Finance Minister Hoshyar Zebari on the Keywords Governor of the Central Bank and the appearance of Mohammed Saleh Prime Minister for Financial Affairs adviser, also participated in the consultations, representatives of the World Bank and the US government and the Japanese Agency for International Development [JICA].
To Aeshetml IMF staff monitoring program SMP to provide state funds, financial loans to Iraq, but it is an important link in the strengthening of 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 obtain financial loans from international financial Almaossat countries and banks and Aahdv program to exposure to the obligations of the Malian government about the staff and the salaries of retirees social obligations to the social protection network and Nazhan.anthy

ISIS retreats in Iraq

  • Tuesday, 10 November 2015 13:41

Shafaq News / ISIS terrorist organization began retreating in front of aviation strikes and military siege on the ground west and north of Iraq.

The international coalition forces have launched during the past 12 hours about 11 air raids on ISIS sites in Iraq, mostly in Anbar province, on Albu Hayat cities Kisak intersection, Ramadi and Sinjar areas as targeted a number of tactical units , combat positions , checkpoints , heavy weapons and vehicles belonging to ISIS.

The Chairman of the parliamentary Security and Defense Commission , Hakim al-Zamili said ” a very short time only separate us from the liberalization of Ramadi, capital of Anbar province (110 km west of Baghdad) within a special military accounts related to the attack and dismantling planted explosives and buildings.”

He added that Ramadi has became encircled from all sides and under the range of aviation and security forces, liberating it has became “just so close .”

Colonel ,Khaled Ali from the Iraqi army leadership in Anbar said ” our troops have put a plan to siege ISIS elements in Fallujah , the stronghold of extremists, killing 14 terrorists, including an ISIS leader , Abu Urouba al-Shami, and killed 10 ISIS elements in Khalidiya area north of Ramadi, 80 kilometers west of Baghdad.”

He added that in the coming days , Ramadi will be liberated as a first stage to liberate the rest of the cities west of the country and then head for the Liberation of Mosul from terrorism.

Decisions of the 43rd Session of the Council of Ministers headed by al-Abadi

Tuesday 10-11-2015 | 3:09:51

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Twilight News / Council of Ministers held its forty-third regular Tuesday chaired by Prime Minister Haider al-Abadi.

A government statement responded to Twilight News, Abadi said in the beginning of the meeting reviewed the significant progress made by Iraqi forces in the whole province of Anbar, Baiji, and the conduct of edits in different regions progress is excellent and very keen to civilian lives.

The statement added that the Council of Ministers discussed the Iraqi refugees and displaced persons abroad issue and decided to form a committee entrusted with taking appropriate measures to the current crisis concerning asylum, and authorize the Ministry of Foreign Affairs to pay the issuance of the laissez-passer for those who can not pay those fees for Iraqis who wish to return voluntarily fees expires.

The statement added that the Council of Ministers has agreed to take over the crop rice planting season in 2015, according to the agricultural plan and the same prices installed under the Council of Ministers Resolution No. 85 for the year 2014 to allocate the necessary funds to pay the dues of the peasants and farmers of the financial allocations to support the purchase of local Alhandh material and rice in the budget of 2016, and The Ministries of Agriculture and Commerce to reconsider wheat crops in agricultural prices for the season 2015-2016 and rice Aalzerai 2016-2017 season.

World Bank gives Salahuddin $ 26 million and the popular crowd mechanism to restore the 34 constituencies of the governorate

Salahuddin Council
Author: AM, AR, BS
Editor: AR, BS
10/11/2015 14:32
Number of Views: 647

Long-Presse / Salahuddin

Salah al-Din Provincial Council, announced on Tuesday, the World Bank’s approval to spend $ 26 million to meet the needs of the health of Salah al-Din circle, as he emphasized that the amount will be provided in the form of wheels ambulances and mobile clinics, pointed to the re-34 belonging to the rotor to maintain the mechanism by the popular crowd.

The head of the Council Karim Ahmed in an interview with the (long-Presse) that “the World Bank approved the payment of $ 26 million to meet the needs of the Department of Health Salah al-Din, will be presented in the form of 25 ambulances and eight mobile clinics and two itinerant hospital.

He added Karim that he “visited the health department of the province and met its General Manager Omar morning, and discussed with him the distribution of these mechanisms and hospitals on the liberated areas plan four and especially covered by the program of the bank which is Dhuluiya role, Tikrit and science”, adding that “the leadership of the popular crowd returned the 34 different mechanism owned by circles State in town and returned eight cars and Hvlat civilians after verification of its ownership. “

And eighth President of the Council, “the leadership of the crowd and his decision to return these mechanisms, despite the need for military operations in her eagerness,” adding that “the municipal Directorate in Salahuddin developed a matrix of mechanisms of its property as a prelude to a request for retrieval later.”

The MP for Salahuddin Shaalan Karim province, called on Tuesday the United Nations to take care of and organizing an international conference to gain the necessary support for the reconstruction of cities of the province liberated, and with the weakness of attention in cities steadfast criticized in front of terrorism, UNHCR confirmed its support for the conference.

The Council of Salahuddin province, announced on Friday (November 6, 2015), that the World Bank will launch a rehabilitation and reconstruction in the liberated towns campaign soon accordance with the priorities set by the dialogues and workshops sessions, as he emphasized that the Baiji spend joined the list of affected cities, he noted The service sectors will be a priority for the rehabilitation plan.

It is noteworthy that the Government of Salah al-Din, the relay with the World Bank through the reconstruction of liberated cities Cooperation Fund program gives an opportunity to get a loan for a period of ten years, through Baghdad, more than $ 200 million.

The Council of Salahuddin province, called on Wednesday (the fifth of August 2015), the United Nations office in Iraq (UNAMI) to visit the liberated areas and see the scale of destruction and need areas for reconstruction and support, while stressing the need to activate its role in re-displaced, demanded that the program United Nations long-term.

The governor of Salahuddin Raed al-Jubouri, announced, in (15 Maysan 2015) that the central government has allocated five billion dinars for the reconstruction of bridges in the city and was awarded the province wider powers to re-displaced people, in the first meeting in the city of Tikrit after its liberation, while called on parliament to pass laws agreements with the World Bank and fund the reconstruction of the affected cities.

The process (Beck, O Messenger of God II), launched in (the 14th of October the current 2015), to liberate northern Salahuddin regions, (170 km north of Baghdad) from the three-axis, and it has achieved results “impressive” results in the liberation of more than thousand km 2, including the Baiji refinery. (40 km north of Tikrit), and progress towards the Hamrin and Hawija, while the joint forces in control of Samarra, south of Tikrit.

Parliamentary Economic calls for state employees’ salaries to the dollar exchange rate

History of edits:: 2015/11/10 17:507 visits readable
called for a parliamentary committee on Tuesday the economy, the government, the salaries of state employees to the dollar exchange rate.
Jawad al-Bolani told all of Iraq [where] that “the economic and investment commission submitted a request in this regard has been introduced in the first reading of the budget law,” noting that “75 deputies endorsed the demand for and received a great support to him.”
He added that the “conversion of employees’ salaries to the dollar It will put an end to the dominance of some of the auction sale of the currency, “noting that” the auction of the currency industry, trade and production failure. ”
He said Bolani to “more than $ 37 billion during the 10-month sale,” and wondered “what is the return on sales in economic terms? How many hospital was built? How many plant and was created through? “. ended 2

Jaafari: the right of people without interfering with the trial of al-Maliki Elimination

History of edits:: 2015/11/10 11:57105 visits readable

foreign minister said the head of the National Alliance, Ibrahim al-Jaafari said of the right of the Iraqi people, the trial of former prime minister, leader of a coalition of law Nuri al-Maliki “on condition that” non-interference in the judicial affairs of the people in this area. “
Saudi Al-Riyadh newspaper quoted al-Jaafari as saying on the sidelines of the ministerial preparatory meeting for the summit fourth Arab countries and the countries of Latin America, held in Saudi Arabia that “the exchange of charges is unacceptable, we are not a judicial body and must not distort the judiciary, especially since it is so far did not condemn any judicial body Nuri Maliki, there is nothing at the top of the elimination of the world. ”
He stressed al-Jaafari on “the right of the Iraqi people request Maliki trial,” adding, “that this right does not mean that people interfere in the judicial affairs and condemning al-Maliki, according to his wishes, he should not be the personalization of the judiciary until the judicial court is fair.
“The House of Representatives has approved 17 of last August, a majority on the report of his committee investigative fall of Mosul, which included former Prime Minister Nuri al-Maliki and senior civilian and military leaders senior name as defendants of negligence or complicity the events of June 2014 and to transmit the report to the judiciary.
For his part, al-Maliki commented on The report by saying that “no value for the result reached by the parliamentary commission of inquiry about the fall of Mosul, and that the Committee was dominated by political differences and out of objectivity,” adding that “what happened in Mosul was a conspiracy was planned in Ankara and then the plot moved to Arbil,” he Colh.anthy

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