Saleh: the agreement with the IMF «financial protection for Iraq}


7/17/2016 0:00

 Baghdad , Alaa al – Taie
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, about the deal with the International Monetary Fund as a «financial protection for Iraq» andexpressed optimism about the improvement in the credit and financial viability of Iraq by the surge in Iraq ‘s international value of the bonds that created until 2028, amounting to$ 2.7 billion revealed , particularly after the IMF approved a loan worth $ 5.3 billion.
Saleh said in an interview for «morning»: the Iraqi government agreement with the IMF was born financial protection from multilateral international financial institution of thecountry, pointing to the existence created bonds in 2028 worth 2.7 billion dollar rises credit rating her, and trading of Sindh in global markets with rising among gets theopposite in the case of low value.
He stressed the benefit of , at the height of the international value of the bonds to Iraq indicator of the capabilities of the national economy and positive on the possibility offulfilling the debts of the country and earned creditworthy.
downplayed economic adviser, fears the introduction of Iraq ‘s debt in the future, stemming from the agreement with the IMF, he said , «it soft loan does not carry veryhigh interest rates as it fears does not deny is that the country is in a fierce war will determine the future of Iraq and its people , which is going through financial hardship and the thesis came to the rescue situation in the country because we are facing a social dilemma, and the poverty rate of 23 percent, as well as nearly four million displaced, inaddition to cities smashed and put social, economic, military and security requires international support to get out of the ordeal ».
Saleh said, that among the terms of the agreement with the Fund, is control of Iraq ‘sability to pay its indebtedness and help him in this matter, stressing that the country ‘sstanding in the «honest point of debt» there are exaggerations about the large number ofindebtedness, noting that the exact calculations and recognized by the government do not include debt that was granted to Iraq under the former regime and the so- called debt Albgazh for it resulting from the aid provided to the former regime of the Iran – Iraq war and is still stuck and there are discussions about them.
Saleh revealed, for the whole of the current Iraq ‘s debt according to the agreement of the Paris Club in 2004 and recognized by the government of ($ 17 billion) begin repayment as of the year 2020 and up 2028 , adding that 17 billion dollars is out of $ 125 billion, confirming determine how Iraq more than $ 100 billion of that debt any reduced by 80 percent , according to the agreement of the Paris Club in 2004 «.
He added that the debt rescheduled in accordance with the Convention on the above, followed by Iraq has begun to pay the annual interest but repaid starts from 2020 to 2028 in the form of successive payments that are mostly sovereign debt government return some of the countries of the Paris Club of around $ 9 billion, and the debt of a sovereign government about $ 6 billion and 2.7 billion in bonds back to the private sector collectively worth 17 billion dollars and represent 20 percent of the Paris Club debt , which reduced to 80 percent of Iraq ».

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