IMF: Iraq disrupts appointments and charge for electricity


IMF: Iraq disrupts appointments and charge for electricity
IMF loans to help Iraq in bridging the fiscal deficit –the image of Reuters Arabian Eye

Direct: International Monetary Fund said that Iraq will go to disrupt the new appointments in most sectors, in addition to imposing new fees on electricity, as part of Iraq ‘s undertakings gradual repayment of receivables overdue for international oil companies.

She said a recent memorandum of the International Monetary Fund said Thursday that Iraq managed to get the cash to facilitate worth $ 5.34 billion, after a number of economic reforms.

The IMF said that the economic reform program of the government included an amendment to several social spending budget items for keeping the lower-income classes as well as the direction of pension reform.

The Fund noted in his report that Iraq faces a double shock, the poor security situation and the sharp drop in world oil prices, the national security is reflected on the non-oil economy, led the decline in oil prices led to a major decline in budget revenues.

The IMF report said Iraq will go to other sources of funding to fill this year’s deficit, which may include loans worth more than two billion dollars from the World Bank, may rely on bonds worth billion US dollars to ensure the full and the issuance of international bonds, a similar amount in the last quarter of 2016.

Commented Moody ‘s credit rating in a report today about monetary easing to Iraq that the conditional loan for Iraq with the IMF agreement would limit the financial difficulties faced by the State, it supports the Iraqi balance of payments, expected contribution to improve liquidity.

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