Saturday, October 3, 2009Monetary Fund shows confidence in the conduct of talks with Iraq on a loan worth $ 5.5 billion
Masood Ahmed, head of the Middle East and Central Asia in the International Monetary Fund said Saturday that the fund works well with Iraq in their talks on the loan and expressed confidence in identifying appropriate ways to support the country.
He was senior adviser to the Iraqi Central Bank said in remarks published in the journal Aimrgenj Markets today he was "not sure" that Iraq could meet the requirements of the Fund with respect to a loan of $ 5.5 billion.Ahmed said "We are having discussions on how best to support them through a program of some kind over the next year.""I am confident that we are working well together and we will be able to identify ways to help."
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Iraq is "not sure" to meet the conditions of the IMF
Aimrgenj Markets magazine quoted on Saturday as senior adviser to the CBI saying he was "not sure" that Iraq could meet the IMF conditions for a loan of $ 5.5 billion. Iraq says it seeks to conclude the program with the IMF $ 5.5 billion over 18 months, which would be the largest funding agreement between the Fund and the new Iraqi government.
The Fund had previously entered into two arrangements in place less than one billion dollars each.The harmful Salim Qassim, senior advisor to the Iraqi Central Bank to reach an agreement with the IMF may take a long time. Could not be immediately suspended from the IMF. Kassem said "Iraq is still in transition.
The security situation sometimes turn upside down so it's very difficult to take a decision on these things. "The country's oil exports in more than 95 percent of state revenues and much-need money to rebuild after years of sectarian conflict and insurgency that Kindle Crarthma US-led invasion in 2003.Iraq and delivering a speech to foreign investors, Dr. A program of the IMF should also lend some credibility to the government's economic policies.
