BAGHDAD / Alaa al – Taie
revealed the appearance of Mohammed Saleh, the financial advisor to the Prime Minister Haider al – Abadi, the launch of a new round of special review of the implementation of the Stand -By Agreement talks in Amman on Tuesday , under which Iraq will receive five billion and US $ 300 million soft loan to support the budget during the period from 2016 – 2019 , mostly for reconstruction and economic development.
Said Saleh, a member of the negotiating team of the Iraqi delegation, in an interview for »Sabah»: The «There are 13 round of talks , or what is known as the second revision pertaining to implementation of the standby credit between Iraq and the International Monetary Fund is scheduled convention that kicks off in Amman this week, to complete the first round which was held in Amman in early September », adding that« the talks will focus on the special standby credit arrangements with a loan five billion and $ 300 to support the budget million dollars, what has been implemented of the economic reforms of public finance and governance, and all ready credit program ».
Saleh added that « the commitments are part of the agreement between Iraq and theInternational Monetary Fund», adding that «Iraq received the amount of one billion and 250 million dollars during the year 2016 is due to receive early 2017 Batch represent half of the amount mentioned in addition to Article IV of the Fund Agreement consultations to assess economic situation of the member countries regardless of the Fund program ».
He said the financial advisor to the prime minister that «talks take two weeks this March and will start on 7 thereof and includes talks with officials in the financial sector and theservice ministries and various economic aspects and then launched in the latter part of the discussions with those responsible for fiscal and monetary policies».
And Saleh said that « the first stage consultation with the Fund took place in Amman early last September and addressed the implementation of the standby credit arrangements under which Iraq will receive five billion and $ 300 million agreement, as asoft loan to support the budget, during the period from 2016 to 2019», indicating that « the loan Iraq will allow the international financial umbrella of the dolly and support form ofsoft loans to bridge the funding gap of at least $ 15 billion spent mostly for reconstruction and economic development. »
Saleh pointed out that «after the end of each round of talks conducted by Iraq with theInternational Monetary Fund called a part of the amount of the Fund ‘s loan of $ 5 billion and $ 300 million was launched the first batch after the Executive Council ‘s approval ofthe agreement between Iraq and the Fund in the July 7, amounting to $ 634 million, and received Iraq billion and $ 250 million in 2016 », pointing out that« after the end of thesecond round of the review will be released half of the amount received Iraq in 2016 of one billion and $ 250 million , or approximately $ 800 million ».