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Experts prefer domestic borrowing to ensure economic advancement

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Experts prefer domestic borrowing to ensure economic advancement

Monday, 11/16/2015 1:05

Baghdad news / Haider Alamchana
fiscal deficit witnessed by Iraq for some time because of mistakes in economic policy on the one hand and the decline in oil prices, on the other hand, pay the state because crossed towards resorting to external borrowing and specifically of "the International Monetary Fund" in order to sustain the Iraqi economy and raising its pending overcome the financial crisis, Amidst official invitations to borrow and necessity, between economists that borrowing from the International Monetary Fund will end up being larger than the current financial crisis crisis, due to the conditions crippling set by the Fund on Iraq, stressing the need to rely on domestic borrowing it is not carrying the country other economic consequences, and contributes to the Iraqi funds traded on a regular basis to help the country's economy to bounce back and help to overcome the current crisis, but the official views imposed external borrowing to size amount is the borrower, which will be a key player for the growth of the Iraqi economy by sustaining and renovation projects that have been stalled since the outbreak of the crisis . as the parliamentary finance committee, it confirmed that the external loan Sastdenh Iraq from the International Monetary Fund amounted to one billion and 200 million dollars, while denied reports that a large body of borrowing on Iraq financially amount of Qatar. The committee member said Sarhan Ahmed Sarhan in a press statement seen by "Baghdad News", "The news that a large body on borrowing Iraq a sum of money from Qatar to plug the financial inability baseless and have no presence on the ground," noting that "the General Budget Law did not Qatar is included in external sources of debt has not been addressed in the meetings of the Finance Committee. " He added Sarhan, said that "external sources which Siqtrd of which Iraq is the World Bank and the International Monetary Fund, Islamic banks, as well as to the issuance of securities at home and abroad," pointing out that "external loan from the International Monetary Fund amounted to one billion and 200 million dollars, while still negotiations are continuing on the determination of the future value of loans from the Fund. "For his part, economist said Ibrahim al-Mashhadani, the borrowing Iraq from the International Monetary Fund will carry a lot of problems because of the conditions under which the fund established by the borrower, confirmed al-Mashhadani said in a statement singled out the" Baghdad news "that he was better for Iraq that depend on domestic borrowing in order shall be subjected itself to a number of crises that beset the country's economy as a result of borrowing from the IMF, especially since accepted that the International Monetary lays great conditions on the borrower can not be borne by any country that wants the advancement of its economy again, referring to the the importance of that will be invested this loan properly and to enable the Iraqi economy of advancement especially as we tiger crisis decline in oil prices on the decision of the Iraqi budget, he said al-Mashhadani said Iraq's dependence on a single supplier paid to undergo to such a loan, but must be loan investment process in a logical manner especially that Iraq today in a war, and it has a lot of material obligations. testifies Iraq financial crisis since months due to lower oil prices, which is the first source and the latter to finance the Iraqi economy, where the Iraqi state has not been able to find other financing alternatives to today because of the problems in public the country's economic policy .

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