Saturday, October 16, 2010
Minister of Finance calls to extend the mandate of the United Nations on Iraqi funds
Called for during his participation in the meetings of the IMF and World Bank to support banks
بغداد ـ طارق الأعرجي Baghdad Tariq Araji
Discuss the Minister of Finance Baqir Jabr Al-Zubaidi with Deputy U.S. Treasury Secretary during his visit to Washington the importance of restructuring the Rafidain and rational and to upgrade them to the level of international banks, and demanded during a meeting with the Deputy Executive Director of the Fed Reserve U.S. should support Iraq's efforts aimed at securing immunity for his money deposited in the Fund the United Nations.
An official at the Ministry of Finance's »Sabah» that al-Zubaidi met on the sidelines of the annual meetings of the International Monetary Fund and the World Bank, Deputy U.S. Treasury Secretary in the presence of Dr. Shabibi Iraqi Central Bank Governor, and during the meeting, they discussed the importance of restructuring the state banks, especially the Rafidain and rational and to upgrade them to the level of international banks and the need to support private sector banks to take a role in the process of construction taking place in the country.
He added that the minister gave a detailed explanation of the process of restructuring that is going well and the steps taken to support private sector banks, stressing the importance of the continuity of financial strength and economic development of the Iraqi government through the construction of a realistic budget based assumptions logical and reasonable for the price of a barrel of oil and the quantities exported so as not exposed to the problems in the case of significant changes in these assumptions and the need for continued good relationship with the International Monetary Fund and agreement on these assumptions, especially in the second review talks SPA3.
And praised al-Zubaidi's efforts and the U.S. Treasury Department for the continued support provided by the Ministry of Finance, both with respect to Annex Financial Department at the embassy and the angel who works with him or through experts who were sent in various disciplines, including taxes, budget, market treasury transfers.
For his part, expressed his Deputy U.S. Treasury Secretary's readiness to provide forms of support both in terms of supporting Iraq in its relationship with the World Bank and International Monetary Fund and continued to send the experts who help the departments of the Ministry of Finance, according to the same source, which indicated that al-Zubaidi met in New York, Terry Jikji Deputy Director Executive Fed up American and assistant chief of the bank for the delegation accompanying him and Hamid al-Bayati, Iraq's ambassador to the United Nations and called for the bank's management to support the efforts of Iraq to the United Nations aimed to extend the immunity of the funds deposited into the Development Fund for Iraq at the bank U.S. Federal Reserve, especially the effect of this immunity will expire at the end of December 2010, it is still the money is threatened by some creditors, particularly from the private sector who are still not submitted a settlement of their debts, according to the Paris Club agreement is likely they are waiting to lift protection to reserve funds Iraq, especially oil imports, which funds the budget of the country and its impact on the economic stability and security. In the same context, the source confirmed that Al-Zubaidi met in Washington, Mahmoud Mohi Eddin, Minister of Investment, the former Egyptian, Executive Director, Director of the World Bank, and discussed the issue of expanding the presence of the Bank in Iraq and the implementation of technical assistance and the establishment of training courses and workshops with the possibility of re-allocation of $ 500 million for the purpose of financing infrastructure projects, where already about the amount the bank to support the budget. He stressed that Mahmoud Mohi Eddin promised the Iraqi delegation to make their best efforts to achieve the implementation of the claims of Iraq, stressing his keenness to visit Baghdad as soon as possible.
Meanwhile, between the source and the Finance Minister and his accompanying delegation met Mulyani Indrawati Executive Director of the World Bank in Washington, and the price high and the presence of experts from the bank in Baghdad, stressing the importance of expanding this presence to follow up the projects implemented by the Bank in Iraq, whether infrastructure projects or projects of reform, calling for to increase efforts and allocations for the purposes of building the capabilities of the cadres of the Iraqi in the various areas and study the possibility of setting up training courses and workshops in Iraq, focusing on sending experts incompetent to provide technical assistance to all ministries. The minister stressed the importance of helping Iraq to develop strategies integrated for each sector in order to speed up the re- build Iraq and redirect resources to provide services, pointing to the importance of the Bank's contribution in support of the private sector and the shift from a centralized economy to a market economy and give the private sector a bigger role in the management of the Iraqi economy.
For its part, expressed Ms. Indrawati its thanks to the attention of the provision of a building of the World Bank in Baghdad and support Mlakath stationed in Iraq, saying it will work in order to meet the needs of Iraq, whether through the allocation of funds and technical assistance, but stressed the importance of speeding the Iraq in the implementation of infrastructure projects which the Bank has committed money and speed up the disbursement of these funds in order to justify the request for allocations of additional him. as indicated, according to the source, the bank is very interested in the appointment of incompetent implementation of reforms and the establishment of projects, training courses, it would look into attention to the possibility of establishing a number of courses, especially the cadres of moderation in the official institutions of the country.
alsabah
previous articles ~ *** Oct. 14-15th ~ The financial control mechanism to recover Iraqi funds with the Assistant Special Inspector General for Iraq Reconstruction ...
*** Finance Minister discusses with Deputy U.S. Treasury Secretary importance of supporting the Iraqi private sector banks ...
