British criticizing Iraqi government’s intention to borrow {900} million dollars from the World Bank

British center criticizing the Iraqi government’s intention to borrow {900} million dollars from the World Bank

Thursday, December 20 1 / December 2012 18:37

{Baghdad: Euphrates News}

Criticized a leading British center studies developmental intention of the Iraqi government to borrow $ 900 million from the World Bank, declaring “there are nearly 15 million Iraqis under the poverty line and my mother.”

The Global Center for Development Studies in a statement received by the Euphrates News Agency {} a copy of it that “in light of the continuing rise of Iraqi oil revenues during the recent period the Government has not succeeded in reducing the number of poor Iraqis whose numbers swelled to 8 million people.”

“The rise in global oil prices and increased production of Iraqi oil, which reached the level of 3.35 million barrels per day, has not done away with by Iraq to resort to borrowing.”

The Center said that “the observer for the details of this loan surprised how these amounts distributed over four years to create jobs and build institutions failed Iraqi budget for this year 2012, amounting to nearly $ 100 billion to do it, and despite the fact that the funds retained in the previous years amounted to 50 billion dollars, the Iraqi government was unable to exploit these amounts in any significant development activities. ”

He said that “at a time when donates the Iraqi government to other countries amounts to more than $ 30 million in one year from the budget for Iraq federal, approximately eight million Iraqis live on less than one dollar a day, while nearly 7 million people do not know reading and writing. ”

The center stressed that “this new loan will not be different from other previous loans that reached in previous years to more than $ 5 billion,” noting that “Iraq is suffering from financial and administrative corruption impedes any large development process it.”

He said that “the Iraq crisis today is not the poor infrastructure and poverty, but it also embodied in the misallocation of resources and poor skills and supervise the economic plans of the Iraqi state While convergence in which Iraq’s budget for next year 2013 the $ {119} billion dollars Iraq is still in framework of a centralized economy, which is controlled by the state. ”

He said the center “the recent crisis, the central bank only one of the signs went Iraq towards more central in a time when the country needs to a free economy.”

He pointed out that “the features of the Iraqi economy looks troubled and distorted often Instead of encouraging investment climate and to create an attractive environment for companies operating the Iraqi government on the military build-up and prepare for the atmosphere of war.”

He said that “the Iraqi government, which tried and severely pass a law allowing them to borrow more than $ 20 billion to support infrastructure buy today weapons and aircraft to more than $ 12 billion. While borrow with the government billions of dollars found allocate $ 20 billion classified under services and other expenses in the next year’s budget. ”

He said the “Iraqi experience in borrowing billions of dollars over the past years will not be able to overcome the current crises as long as Iraq remained under the same mentality that governed, can not succeed in Iraq build its economy in light of a dispute all parties it, because everyone will be a loser and will not be there is no winner. “ended