BAGHDAD / Obelisk: The Ministry of Finance announced that, on Wednesday, it agreed with the International Monetary Fund, the latter control of financial and economic policies in the country, indicating that the agreement came in the form of a memorandum of understanding.
The ministry said in a statement, that 'Iraq agreed with the IMF, which concluded on Tuesday evening in the Jordanian capital Amman on monitoring fund experts Programme (STAFF-MONITORED POGRAM (SMP financial and economic policies in the country for the remainder of fiscal year 2015 and for the year coming in 2016'.
The ministry added that 'agreement, which came in the form of a memorandum of understanding refers to the implementation of the program in the timelines quarterly and the letter of intent, where the aim of the actions that have been agreed Ay standards to maintain the stability of the financial sector', noting that 'IMF staff monitoring program SMP to Aeshetml on provide any funds, financial loans to Iraq, but Aahdv exposure program to the government about the financial commitments of employees and retirees 'salaries and social obligations to the social protection network and displaced persons'.
The ministry 'and followed the agreement is an important step in strengthening Iraq's international status in the global financial markets and improve the status and credit rating of the country and opens the way for Iraq to obtain financial loans from international financial institutions, states and banks'.
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