Long-Presse / Baghdad
Ministry of Finance announced on Tuesday, discuss the financial crisis of Iraq with a delegation from the International Monetary Fund, and as pointed to agree on the Fund to provide emergency financial assistance for Iraq to reduce public expenditure, confirmed talks with IMF officials to stand on the government's use of funds SDRs in budget 2015.
The Finance Ministry said in a statement received (range Press), a copy of the "technical and detailed discussions took place yesterday, in the presence of the Minister of Finance and the Governor of the Central Bank and the Director General of the budget and general manager of public debt and general manager of the Iraqi Fund for External Development with the International Monetary Fund officials and official team Iraq in the Fund to crystallize Help Fund for Iraq in better current financial crisis. "
The ministry said "it was agreed to by the Fund to provide emergency financial assistance within the government and Ministry of Finance plans to reduce public expenditure."
The statement continued, "The Iraqi delegation held talks later with the legal department and the Department of Accounting at the IMF officials to stand on the use of the government and the Ministry of Finance for funds SDR allocation in the 2015 budget."
Iraq complain of weak financial revenues due to lower oil prices and increased military expenditures, which side came on her head, making the government resorting to austerity as one of the solutions adopted to meet the country's economic situation started.
The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.
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