ECONOMIC ADVISER TO EBADI: INTERNATIONAL FUND APPROVES STANDBY CREDIT AGREEMENT WITH IRAQ
ECONOMIC ADVISER TO EBADI: INTERNATIONAL FUND APPROVES STANDBY CREDIT AGREEMENT WITH IRAQ
July 14, 2016
BAGHDAD / IBN
Economic Adviser to the President of the Council of Ministers confirmed the appearance of Mohammed Saleh, “The Executive Board of the International Fund approved a standby credit with Iraq on 7 July of the current agreement.
Saleh said on Thursday, in a statement to the Iraqi network transmitter (IBN) “The fund was launched in the history of 12 of July of this batch of the loan allocated for Iraq and the $ 634 million out of the total amount of 5.3 billion dollars.”
He added that “Iraq will receive this year in two installments of $ 2 billion, one in the next month of September, and the second at the end of this year to support the Iraqi budget and the economic sector in general within the fund, which will be extended to 36 months, which expires in August 2019 program.”
He noted that “the loan for five years on all installments payable after five years from the date of receipt of an interest rate (1.5%) and that on the top priorities of the Fund program is the reform of financial administration in Iraq and governance of financial operations in terms of payment systems and the transparency of financial data and amending some laws financial, including financial management and adjustment of the integrity Commission Act in line with the United Nations anti-corruption law. ”
“The first batch received by Iraq of the loan will go to the gates of exchange in the budget, the doors of social exchange such as social welfare, health, education and the ration card and the affairs of the displaced and then comes the other requirements.”
ibnnews.net
