Finance: Iraq on the verge of bankruptcy and must be remedied to recover stolen money

A member of the parliamentary finance: Iraq on the verge of bankruptcy and must be remedied to recover stolen money

2015/10/27 8:22

Finance - Iraq on the verge of bankruptcy and must be remedied to recover stolen money[Baghdad – where]
the parliamentary finance committee member Ahmed Sarhan said, that Iraq is on the verge of great economic abyss.
Said Ahmed told all of Iraq [where], that “Iraq is on the verge of bankruptcy of a major economic and abyss”, adding that “the oil revenues that have prevented the collapse of Iraq’s economy to a level that leads to bankruptcy.”
He added, “Iraqi leaders must realize this topic in all its aspects, if not arrest the corrupt and incarcerations and the elimination of corruption and recover stolen money can not be for Iraq to recover from its economic crisis.
“Ahmad noted that” the crisis will continue and the situation will continue in the collapse of the economy to the extent that leads to enable the State to perform salaries and distributed only if Iraq has not economic steps strategy serious long-term is on the verge of economic collapse and bankruptcy unless Find corrupt and re-Iraqi hopes fled abroad.
“He noted that the” borrowing of the means of the shortfall in the budget address, a decree under Budget Law, which gave power to the Minister of Finance to borrow, but what are countries that agree to borrow because we must find a friendly countries trust the Iraqi economy to be able to borrow.
“He stressed that” so far Iraq has not borrowed to the lack of confidence between borrowers and the Iraqi economy, “he said “borrowing decree and planned But how are countries that are borrowing them and the interest rate,” noting that “some of the companies agreed to lending, but by more than 12% of what Aaa to the collapse of the economy completely.”
He stressed the need that “the benefits of borrowing less harmful on the Iraqi economy, but if the benefits are more than good Iraqis conjoin to another collapses.
“He was a member of the parliamentary finance committee Sarhan Ahmad, warned early last September, the country’s vulnerability to disaster comprehensive economic collapse, as a result of lower oil prices and the war on Daash.
He told [where], that “Iraq is on the verge of economic disaster, a comprehensive economic collapse as a result of the lack of consistent studies with lower oil prices,” stressing the need to “move on rich nations and the International Monetary Fund and all the regional and international levels in order to save the country from economic decline, as The war on Daash, and the crisis of displaced people, burdened economy, oil prices have led to what led to him now, “pointing out that” should the Iraqi government to move quickly toward these countries.
“mentions that, Iraq borrowed last June, $ 833 million of The International Monetary Fund, and the European Union to Iraq provided financial grant of 27 million euros.
According to statistics of the interview [where] based on official data from the Ministry of Oil Federal that Iraq’s imports of crude oil exports -abbar Sumo company Aloutnah- in the first seven months of the year this 2015 amounted to only $ 30 billion, despite export more than half a billion barrels of crude during the same Afattrh.anthy 2