27/09/2009
Negotiations between Iraq and the IMF to the development of public finance and banking sector
Oman hosts on discussions between Iraq and the International Monetary Fund, paving, also said the Iraqi Central Bank Consultant appearance of Mohammed Saleh, to sign a standby credit agreement under which the International Fund grants, low-interest loan to Iraq of about one percent to revitalize the Iraqi economy.
Saleh pointed out that the loan «would be conditional on reforms in the Iraqi economy, which is to complete the agreement reached earlier, which canceled 80 percent of Iraq's debt, which had not completed a final clauses», referring to «the restructuring of bank governance, and equipping of Iraq on a competitive basis and adjust their accounts, which Balheiklp the so-called financial and operational .
The International Monetary Fund announced on 11 this month, said there was broad agreement between the Fund and Iraq, in some areas of the new program of the Fund, including the management of public finances and the banking sector, and that the mission of the Fund would continue talks with the Iraqi authorities later this month or early October ( October) the next will focus on the draft budget in 2010 and the reforms planned for the next two years.
He has been clear progress was noted during the mission in late July (July) last, in relation to broad agreement regarding the main criteria for macroeconomic and structural reforms, particularly in the management of public finances and the banking sector.
Saleh was speaking in a panel discussion on Iraq as a model yield, pointing out that justice which are compared with extremism productivity. He said: the country where five million employees and pensioners and social welfare, the unemployment rate which 15 percent (25 percent among youth) and 10 million people who receive ration card, with a stop 90 percent of the plants of the industrial sector and the private sector. From here Tertsm picture of the Iraqi economy: justice and efficiency too low. He concluded that the current economic system yield and democratic, and called to correct this situation.
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