Government and Parliament discuss the negative and the positive results of foreign loans and the issuance of bonds
Government and Parliament discuss the negative and the positive results of foreign loans and the issuance of bonds
27/5/2015 2:47 p.m.
[Where]
concerned officials in the government and the House of Representatives discussed the negative and the positive results of obtaining foreign loans and the issuance of government bonds.
A statement by the Chairman of the State Economic Commission Deputy Prime Minister Ruz Nuri Shaways received by all of Iraq [where] a copy of it, that the Committee “held its headed by Shaways to discuss the article [2 / II / a] of the federal budget law for 2015 about the version of the external loan bonds What are the expected results from the issuance of those bonds. ”
He added as the Committee “resulting positive impact for obtaining a credit from international rating agencies rating to support the economy and the construction and reconstruction in Iraq by increasing the financial resources of the state derived from such bonds discussed.”
The statement pointed out that the meeting ” attended by members of the government’s economic Committee of Ministers of Finance, Planning and Trade, and Agriculture and Chairman of the National Authority for Investment and Advisor to the Prime Minister for Economic Affairs and the Deputy Secretary General of the Council of Ministers of Finance and Administrative Affairs and the Director of the Legal Department of the Office of the Prime Minister. ”
also hosted a meeting of the Committee by the Chairman of the Finance Committee House of Representatives Ahmad Chalabi and head of the economic and investment commission Jawad al-Bolani and was attended by all of the financial banks representatives [Cleary Office Gottlieb Steen & Hamilton LLP, Citibank and Deutsche bank and Jp Morgan].
Iraq plans request emergency funding worth 400-700 million dollars from the International Monetary Fund, The government has taken a decision to issue government bonds worth $ 5 billion, and it continues to negotiate on their own terms.
The passing of the country in a state of fiscal austerity and a crisis in the provision of cash called on the government to impose various taxes to cover the deficit in the budget.
As a senior official in the IMF said International on the fifth of this month that Iraq’s request for financial assistance from the Fund and it may be agreed to loan $ 800 million within Osabia.anthy
alliraqnews.com
