Statement by an IMF Mission on Iraq


October 12, 2016

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

  • Iraq has made progress on completing economic reforms under an IMF-supported program

The Iraqi authorities and the staff of the International Monetary Fund (IMF) continued discussions in Washington during October 6–10, 2016 on the first review of Iraq’s 36-month Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016 (See Press Release No. 16/321) .

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities have made good progress towards completing the first review of the SBA.

“Once agreed upon additional information has been provided and agreed prior actions have been implemented, the IMF Board will consider the first review of the SBA, likely in November or December.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Finance Minister, Dr. Fadhil Nabee Othman, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministry of finance, the CBI, and a representative from the Kurdistan Regional Government. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

IMF Communications Department


PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG



US Saudi agreement allows for “Daesh” directed by fighters from Mosul and sent to Syria


Novosti reveal …

News Code: 1210840 Category: International

12/10/2016 – 21:28

Important and urgent

A diplomat, a military source in Moscow revealed that Washington and Riyadh have agreed to enable “Daesh” fighters from the safe exit of Mosul before the start of the Battle of the international coalition in order to restore the city transferred to Syria.

The source said, in an interview to the Agency “Novosti”, Wednesday, October 12 / October: “In the framework of preparations for the implementation of the liberalization of Mosul process, reached the CIA and Saudi Arabia to the agreement includes a proposal to all the gunmen in Mosul, a safe way out of the city with their families. During the storming city, coalition aircraft will direct strikes on empty buildings within the city agreed in advance with the militants. “

The source said that US-Saudi plan includes the transfer of “Daesh” fighters from Mosul to Syria: “More than nine thousand” Daesh “fighters will be transferred from Mosul to eastern regions in Syria to engage in a large offensive operation within its objectives to seize the towns of Deir al-Zour and Palmyra “.

He revealed that the presidency of the Saudi General Intelligence took over the role of mediator and security to deal with “Daesh” fighters around them out of Mosul, noting that a similar process with the aim carried out during the restoration of the Iraqi city of Fallujah last June.

He added that US President Barack Obama has already made the decision to implement the process of Mosul in October / October this month.

He guessed that the transfer of terrorists from Mosul to Syria aims, in addition to achieving political gains, to discredit the achievements of Russian space and military forces in the fight against terrorism in the country and underestimated and undermine the position of President Bashar al-Assad.

The US defense secretary, Ashton Carter, confirmed to send 600 military personnel to Iraq at the request of Baghdad to help in the liberation of Mosul and Washington’s plans.

The head of the Central Command of the US Armed Forces, Gen. Joseph Votal, earlier, that he should be complementarity between the political and military tracks of Mosul during the process and avoid the rush.

Source: RIA Novosti


Legal expert: Maliki, Allawi and Nujaifi will not return to their posts and a woman will be vice infallible



Since 10/12/2016 20:05 pm (Baghdad time)

BAGHDAD – balances News

He said the legal expert Tareq Harb, Wednesday, said the court’s decision did not include the return of vice-president Fuad Masum, Nuri al-Maliki and Osama Najafi, and Iyad Allawi to office.

The war, in a statement, received / balances News /, that “the judgment of the Federal Court on the return of the Vice-President of the Republic, did not include them back to their posts even that this provision did not even Atol re Osama Najafi, the prosecutor who raised the case before the court issued the verdict due any claim that the judgment did not mention any re one of al-Maliki and Allawi and Nujaifi did not address the fate therefore, the judgment of the Court agrees to hold the prime minister of this destination any of their dismissal from office. “

He said the war, said that “the referee search in the presence of Vice-President of the Republic in the Constitution and the law and did not need to be president to appoint a deputy The ruling spoke on the position and job class in the government career service system was not looking at the people who hold the position previously or in the future, but to leave it to the President of the Republic has not required the president to appoint a deputy The ruling referred to the Article 69 of the special presence of the Vice President of the Republic Constitution or more and Article 75 of the special duties of the Vice President of the Republic Constitution, in the absence of the President or when the vacancy of the president of the republic and the law RFM (1) the year 2011 that things relating to the appointment of vice president and conditions, service and end the work systems. “

He said the war to be “The court in its ruling applied when the Constitution said that the cancellation of the post of Vice President of the Republic requires amending the Constitution in accordance with Article 142 of the Constitution, which identified an amendment on whether the intention to abolish the post of the Constitution.”

And the statement, “which Nerjha that the President will appoint a woman Vice single him and thus the first female to assume such a position in Iraq since the appointment this because this woman would be an example and a model of technocratic Iraqi conditions of any offer expertise and efficiency of scientific and practical knowledge and enjoyment of these women are independent from political parties political so that would be far from quotas broad form, whether the quotas partisan political parties represented in parliament or seizing Arab nationalist Kurdish Turkmen or religious quotas Muslim or Christian or other Iraqi religious or quotas sectarian Sunni and Shia or quotas conservatism relative to the provinces these quotas that have appeared on the tongue politicians of the sons of the province of Basra, which we have observed in the case of former Alastaizar. “

He continued, “so any female set will not be the President of the Republic shall be subject to these restrictions but will come out nature of these limitations and be whole of this appointment nominal Alasny and implement realistic for the reform process in our country,” .anthy 29/9 P


DNO) Norway: 3 new oil wells is completed in Kurdistan


Khandan – announced (DNO) Norwegian on Wednesday three new production wells is completed in the Tawke field in the Kurdistan Region within the exploration program was launched in July 2016

and will begin drilling a fourth well of the work in the field Tauki next week, according to the agency “Reuters” that cited the news.

It is expected that the cost of the four wells less than $ 20 million and will add about ten percent of production capacity field.

canceled last September, plans to use the drilling rig third , but thecompany expects to re – launch investments to increase production to a target level of 135 thousand barrels of oil per day after theresumption of payments on a regular basis.

the average size of Tawke production in the third quarter of 109 and 159 thousand barrels per day from 108 thousand and 759 barrels per day delivered for export via Turkey.



Legal representative: 2017 budget will be on the table of Parliament next week


Parliamentary Legal Committee announced today that the Federal Budgeting Act of 2017 will be on the table in the House of Representatives next week.

The committee member said Salim Chawki in a press statement today: “The legal committee adopted a number of laws of the most important of the Judicial Authority Law and the Supreme Judicial Council and the prosecution of the Federal Court.”

He added, “Some of these laws came to the stage to vote into law the public prosecutor of the Federal Court, the Judicial Authority Law is heading to the first reading.”

He continued: “We are waiting the arrival of the federal budget bill to parliament next week, while the oil and gas law is still in the corridors of the government has not arrived yet, in addition to modifying the Justice and Accountability Act.”

The House voted in 22 of the month of September to the draft Judiciary Oversight Commission and submitted by the Legal Committee in view of the changes taking place in the period following the issuance of supervising the Judicial Law No. 124 of 1979 and to keep abreast of changes and compatibility with the new legislation and to ensure good performance in the federal judicial power components.


Oil rises to $ 52 a barrel



Since 12/10/2016 11:17 pm (Baghdad time)

Baghdad balances News

Oil prices rose in global markets, on Wednesday morning.

And ascended futures price of Brent blend oil by 0.44% to $ 52.62 a barrel, while futures contracts for crude oil prices of WTI grew by 0.33% to $ 50.96 a barrel.

Experts say that this growth is the cause is due to expectations of a consultative meeting informally convened by the Organization of Petroleum Exporting Countries ( “OPEC”) with the oil producers of non-members, on Wednesday, in Istanbul on the sidelines of the World Energy Conference, in an attempt to put the details of a global agreement to curb production for at least six months.

In the last month agreed “OPEC” countries at a meeting in Algeria to cut production to a range between 32.5 million and 33 million barrels a day. The members of the production, “OPEC” countries are currently high at 33.6 million barrels Aumia.anthy 29 / d 24 level

America calls on Baghdad and Ankara for calm



History of edits:: 10/12/2016 9:03151 visits readable
[Where – Baghdad] The
United States urged Iraq and Turkey to ease the tension between them, especially after the violent controversy that erupted between the leaders of the two countries at a time when preparations areunder way to launch a large – scale for the Liberation of the city of Mosul from terrorist gangs Daesh attack.
She said the US State Department in a statement , “We consider that all international forces in Iraq should be an agreement and coordination with the Iraqi government, under the auspices of theinternational military coalition that US – led coalition against Daesh.” The
statement added that “All sides should coordinate with each other in the document in the coming days and weeks to ensure unity of effort in order to defeat the Daesh. ”
attacked Turkish President Recep Tayyip Erdogan on Tuesday, strongly Prime Minister Haider al -Abadi, in the light of the continued bickering rhetoric between the two officials on the background of the presence of Turkish troops in the northern city of Mosul.
Erdogan said in his speech , speaking of al – Abadi: “it hurts, and tell him you do not clammy and I am not my way, and Asrakhk in Iraq does not matter to us at all, we will do what we want, and you have to learn it, and you have to commit yourself first” . on he said.
the Prime Minister Haider al – Abadi, said the “Iraqi sovereignty is a red line and on Turkey to respect our sovereignty,” pointing out that “we do not want to enter into a conflict with Turkey and the Turks thought that their presence in Iraq picnic for them.”
he pointed Abadi , through the coordinating body Conference Supreme provinces , which was held Thursday in the Baghdad governorate building, “There is no justification for the Turkish presence in Iraq , which is dangerous and the government did not ask for any presence of Turkish troops , ” stressing that “Iraq in which any foreign power does not exist.”
as Prime Minister Haider al – Abadi ‘s response to President Recep Tayyip Erdogan , who strongly attacked him on Tuesday.
Ebadi said in a statement his office had received [where] a copy of it, “certainly not Nada you, we will liberate our land is not the intention of the men and Balskaab.” Referring to Erdogan ‘s appearance via Skype program during his speech to the Turkish people in the military coup “alleged” witnessed in Turkey on 15 July.
The Ministry of Foreign Affairs submitted a request to the UN Security Council to convene an emergency session to discuss the Turkish overtaking on Iraqi territory.

Specialists: international financial umbrella of Iraq promotes radical reform of its economy and get rid of waste and tampering



Previous talks with the International Monetary Fund

Author: HH, ZJ
Editor: BK, HH
12.10.2016 10:44
Number of Views: 429


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Long-Presse / Baghdad

     Finance Committee in the House of Representatives confirmed on Wednesday that the financial umbrella provided by the agreement with the International Monetary Fund and World Bank, which will contribute to the creation of “radical reform” of the Iraqi economy, and implementation of projects for the reconstruction of liberated areas, and indicated that it will work to strengthen the infrastructure and the postponement of debt and compensation payment of the country, while pointing out that an economist of the IMF loan to Iraq would be in batches to make sure Baghdad’s commitment to its recommendations and to leave the “economic tampering and waste of public money approach.”

It was the financial advisor to the Prime Minister and the appearance of Mohammed Saleh said in an interview to the (long-Presse), the first on Monday, (the tenth of November 2016), on the outcome of the talks with the IMF mission, the World Bank, for obtaining loans by about four billion dollars, during the three years, as well as the agreement on the support of the government’s reform program so as to help Iraq to overcome the problems of dependence on oil, and the fight against corruption.

Parliamentary: international loan contributes to the radical reform of the Iraqi economy

Says member of the Finance Committee, the parliamentary Najiba Najib said in an interview to the (long-Presse), said that “financial umbrella provided by the International Monetary Fund and World Bank that contribute to a radical reform of the Iraqi economy, and implementation of projects for the reconstruction of liberated areas and the other to strengthen its infrastructure, as well as the postponement of debt payment and reparations owed him. “

He adds Najib, that “the agreement with the International Monetary Fund and World Bank soft loans is very important and hurt the interests of Iraq and Financial Public”, noting that “the World Bank loan will be in the form of projects for the reconstruction of liberated areas of Daesh as well as the establishment of other projects for transport and other areas needed by the country that contributes to the strengthening of its infrastructure. “

The relay Najib, that “the IMF loan, which will be in batches, were received 630 million dollars, the first of it as a meal, involves a significant economic feasibility, under Iraq’s agreement with the IMF to prepare the credit”, usually the “IMF loan, will provide Iraq with financial umbrella worth $ 18 billion, by deferring debt and reparations owed by the country to pay as well as helping his donor countries, and the requirement of the radical financial reform. “

Expert: IMF seeks to make sure to leave Iraq Economic tampering and waste of public money approach

And sees an economist, that the IMF pays his loan to Iraq in batches to make sure that his commitment to his recommendations and his departure approaches, “Economic tampering and waste of public money,” and go to revive the productive sectors.

The name says Antoine, in an interview to the (long-Presse), said that “the International Monetary Fund to develop recommendations and consulting the Iraqi government, to address the tampering and wastage of wealth over the past years,” noting that “the fund does not want Iraq to continue to walk on the economic approach that caused the waste of money year, and confirms that goes for every dollar paid to productive work, not to meet the salaries and allowances and others. “

Explains Antoine, that “the IMF committed to paying the second meal of the loan to Iraq after touching that things are going around quite a bit, with its emphasis on the need to continue to implement its recommendations for building a productive economy and promote industrial and agricultural sectors,” pointing out that “the International Fund for granting loans in exchange for commitment to his recommendations and only Cioagafha so Iraq did not give the loan at once. “

The Iraq negotiations with the International Monetary Fund and the World Bank mission that took place in the US capital, Washington, for the period from the sixth to the tenth of October 2016, complementing the first review of the Stand-By Agreement with Iraq.

Iraq had happened in July of 2015, a payment equal to about one billion and 240 million dollars, through the “rapid funding,” the IMF’s tool.

Iraq and delivered by mid-July 2016, about $ 634 million, representing the first installment of the IMF loan, immediately after the IMF Executive Board approval, in (the seventh of this month), on the standby credit agreement with Iraq, noting that the term of the loan is five years low annual interest rate of one and a half percent (1.5%), and that the number of payments is 13 batch stretches over 36 months.

It is noteworthy that Iraq has agreed with the International Monetary Fund and World Bank to provide financial umbrella him up to $ 20 billion, to overcome the financial crisis as a result of the sharp decline in oil prices and the war against (Daesh).