International Monetary Fund gives Iraq $ 1.8 billion to address the economic crisis
2009-09-29
BAGHDAD (Iba) / follow-up
A source in the Iraqi Central Bank, the IMF will provide Iraq with $ 1.8 billion to help it emerge from the global recession.
And the relocation of Dow Jones, Economic Advisor to the Central Bank of the appearance of Qasim as saying on the sidelines of a meeting between Iraq and the International Monetary Fund held in the Jordanian capital of Amman, "the purpose of money is to support the liquidity and improve growth in the Iraqi economy."
Qassim stated that it is expected to spend money on infrastructure projects.
It also adds a large deficit in the budget, estimated at 19 billion dollars this year, pressure on the government to urge them to find new sources of funding.
In addition, close to the International Monetary Fund and Iraq to complete the deal of a standby loan of 5.4 billion dollars, payable in two installments over five years at an interest rate slightly more than 1%.
Earlier, the Chairman of the CBI on the sidelines of a meeting of Central Bank Governors held in Abu Dhabi, it can be accomplished financing deal with the IMF during the annual meeting of the Organization to be held in Istanbul from October 6.
Kacem added that inflation in September is expected to be about the same level recorded last month.
The inflation in August rose to 10.8% compared with 7% in July, soon the impact of the decline in agricultural production and rising food prices.
The Adviser reported that it is expected that the economic growth in the non-oil sector in Iraq, 5% during the first nine months of this year.
The central bank issued treasury bonds worth 2.6 billion dollars for the financing of energy projects is necessary, in the words of Qasim.
He referred in this connection that the central bank rejected calls for more government, which demanded the issuance of additional treasury bonds to finance other projects.
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