Finance Minister Ali Allawi reveals the details of his discussions with the International Monetary Fund and the World Bank
politics , 2022/04/25 22:21 , the number of readings: 273
Baghdad - Iraq today:
Iraqi Finance Minister Ali Allawi revealed the details of his country's meetings with the International Monetary Fund and the World Bank in Washington.
Allawi indicated that agreements had been reached that included providing support for economic reform projects in Iraq within what is known as the "white paper".
Allawi said in a statement, "The meetings with the International Monetary Fund, the World Bank and other major institutions in Washington were good," stressing that
"several agreements were reached, the most important of which is support for the reform process, especially the white paper."
And the white paper, a comprehensive reform program focusing on economic and financial aspects, that was put forward by the Al-Kazemi government in late 2020, includes many items and paragraphs that deal with medium and long-term strategic treatments.
The white paper came on the impact of a severe economic crisis experienced by the country due to the decline in oil prices and the global closure conditions that accompanied the Corona pandemic, which prompted Baghdad to borrow more than once to secure the salaries of government institutions employees.
Allawi added, "There are close meetings in Baghdad, which will be after the blessed Eid Al-Fitr, so that the support will be technical in order to strengthen the capabilities of the Iraqi government, in order to advance and move forward with the reform project."
He pointed out that "Iraq is in the process of implementing agreements with the World Bank, especially with the support of the technical side.
We have reached very good results, and will contribute to strengthening the cadres working in the country."
He pointed out that "the ministry is in the process of submitting a law to the House of Representatives for the purpose of employing the unexpected gains resulting from the rise in oil prices, in the areas of strengthening support for groups affected by the prices of raw materials."
He continued, "The law is before the House of Representatives and will be enacted, and it will give strong support to the groups affected by the rise in prices of basic materials and foodstuffs in particular, strengthening the pillars of the Ministry of Finance and strengthening the possibilities of employing public employment projects," explaining, that "
He added, "This support is outside the concept of reform for the public sector, and we want to reduce government support, especially for sectors that can thrive without government support, but this will be for one time," explaining that
"the government acknowledges that some groups have been affected by the rise in the prices of raw materials, so the support will be once and not repeatedly.
He stated, "We have a strategic agreement with the United States, especially in the economic aspect, and we want to do it now," stressing that
"there are preparations for cooperation at all levels."
Allawi stressed the necessity of "presenting projects to obtain support, or for some kind of American assistance, especially in the technical aspect," stressing that
"the financial situation is very good, and we do not need support from any foreign parties, except for specific projects."