|Minister Plenipotentiary of the Economic Section at the US Embassy Larry Mimoth «Economy News»|
Economy News Baghdad:
The Minister of Economic Affairs at the US Embassy, Larry Mimoth, that the reconstruction conference of Iraq has been successful after the pledges made by the States, amounting to 30 billion dollars, adding that the Iraqi government promised investors at the Kuwait Conference to facilitate their work, considering the project to settle the salaries of the public sector in banks step Successful.
“The Kuwait conference on reconstruction of Iraq has achieved great success, and the pledges made by Iraq of 30 billion dollars can contribute to the development of the economy and growth, and these funds are the beginning of the reconstruction of Iraq for ten Years, stressing that these countries can not retreat from their pledges.
He said that “more than 200 American companies participated in the conference, Iraq is currently working in Iraq and some of them do not have business, and expressed their desire to invest in Iraq and participate in reconstruction,” noting that “Iraq and America signed credit facilities worth 3 billion dollars to establish a power generation project Electricity through solar energy and gas investment associated with the production and development of the electrical sector of Iraq. “
He pointed out that “the World Bank estimated the reconstruction of Iraq by 46 billion dollars and that the financial pledges to rebuild Iraq amounted to 30 billion dollars, which is a preliminary payment for the development of the economy,” explaining that “a great desire for investors to work inside Iraq, but some of them are waiting for reforms by the government Especially as the government has shown its commitment to enter the New York Convention and facilitate the granting of visas to investors. “
He added that “the government promised at the Kuwait conference to implement the one window that will be a gateway to help investors and finish the procedures they need.” He stressed that “the Iraqi private sector is besieged by the government, but must be the solution to build the Iraqi economy and meet the challenges.”
He added that “foreign companies have no difficulty in transferring their funds to and from Iraq, but this problem is faced by Iraqi businessmen and entrepreneurs,” noting that “government banks do not give the opportunity to work for private banks while there are ongoing talks with the government to reform this situation and began Through the project to settle salaries for public sector employees. “
He pointed out that “the experience of the Central Bank in the settlement of salaries at private banks is a successful step and this will expand in the coming period to include a number of ministries and thus millions of Iraqis will open bank accounts,” stressing that “the IMF program with the Iraqi government includes the restructuring of the bank, .
He pointed out that “cooperation between Iraqi banks and global correspondent banks, needs time, and it is up to the Iraqi banks through the application of compliance standards and help them in the field of training and development of their capabilities, but remains the option for foreign banks in dealing with Iraqi banks.