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Iraq negotiated for 30 billion dollars and debts estimated at 85 billion dollars.

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Iraq negotiated for 30 billion dollars and debts estimated at 85 billion dollars.

2016-09-21

Baghdad/JD/.
Although Iraq's internal and external debts which still discharged an estimated 85 billion dollars but it still follows the lending policy, where the Government negotiating friendly States and international banks to obtain loans amounting to some 30 billion dollars through phases are advised for many years with an interest rate.

Lending came as a result of the lack of State financial revenues and lack of alternative oil productive sectors are reliable despite the economic determinants which can be utilized to maximize the financial resources of the State.

Iraq agreed with the IMF and the World Bank to get a loan estimated at $16 billion, three to Kurdistan, under the terms of the World Bank and the International Monetary Fund are repaid in three stages.

Iraq is now in negotiations with the British Government for financial loan estimated at 13 billion dollars, State financial matters for a walk in the shadow of the decline in revenue and the war against the terrorist organization of ISIS.

A number of the State has provided loans and financial assistance to Iraq to promote infrastructure and displaced works particularly from Japan and South Korea and Kuwait and other countries, estimated at more than $1 billion.

It has been criticized by a number of economists State policy based on internal and external loans without thinking about how to maximize the financial resources of the State, despite the availability of ingredients.

Economist says Mohammad Hasani, the current Government which preceded it failed on how to improve the economy and make it a strong economy depends on oil, despite the availability of funds and, despite five-year plans and decimal etc that is ink on paper.

Hassani added to JD/agency that will haunt the lending policy of the State and the State broke, even if high oil prices that Iraq will in future pay these loans and not how to invest funds from oil revenues and this will make the economic traffic paralysis are Iraq in the event of non-payment of those debts will be doubled due to the percentage of profits.

Meanwhile, the Financial Committee member confirmed Magda Tamimi, internal and external debts of Iraq estimated at 85 billion dollars, noting that the Iraqi Government to negotiate new loans will of State finance.

Tamimi said the Agency/JD/ Government to find alternatives and not rely on lending as activating productive sectors and sectors where large imports.

The planning Minister, Salman Al-jumaili had disclosed earlier, near the start of negotiations with Britain on Iraq grants a loan of 10 billion pounds (more than $13 billion).

The Iraqi Cabinet decided at its 26 last July, approving the loan agreement, proceed with the British Government only £10 billion and formed a Committee to negotiate and submit a draft negotiation to Cabinet Regulation, add to the said Committee of Basra on draft scarcity and desalination.
/Finish/8/

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