Economists warn of the consequences of external borrowing
Economists warn of the consequences of external borrowing
20/07/2015
Specialists in economic affairs, warned of the consequences of excessive borrowing from abroad, under the pretext of a lack of financial liquidity in the treasury of the Iraqi state at the moment.
He says the appearance of Mohammed Saleh, an economic advisor to the Prime Minister, the Iraqi government has borrowed internally from the local market to feed the deficits in the general budget of the State, in addition to borrowing more than a billion dollars from the World Bank, the International Monetary Fund, to set up service projects in the liberated areas of governing “Daash”, as well as additional intentions to borrow from international markets, stressing in an interview with a stinging free Iraq that these loans will constitute a heavy burden on future generations, if they do not invest in projects generate money for the state.
For his part, economist lion Mohammed Ali believes that Iraq will not be able to repay these loans in the future, due to the absence of economic visions for the development of imports of the Iraqi state, and the country’s dependence on volatile oil exports imports to repay these loans.
However, a member of the Investment Commission of Baghdad, Thaer Faili indicates that foreign loans Astdanha Iraq from the World Bank and the International Monetary Fund, will not pose a heavy burden on Iraq in the future, since it is of little interest soft loans, repayable over thirty years.
The representative of the religious authority in Karbala, Ahmed Safi, warned in his Friday sermon, of “borrowing from abroad Project” before exhausting all economic solutions at home, criticizing the weakness of the government measures in the fight against financial and administrative corruption in government institutions.
iraqhurr.org
