IMF gives Iraq exceptional assistance
IMF gives Iraq exceptional assistance
06/06/2015 14:27
Chairman of the negotiating mission in Baghdad with the International Monetary Fund Carlo Sdralvic announced that the Fund decided to give Iraq an exceptional financial assistance worth 833 million dollars .
BAGHDAD / Obelisk: Head to negotiate with Baghdad mission of the International Monetary Fund Carlo Sdralvic announced that the Fund decided to give Iraq an exceptional financial assistance worth 833 million dollars, under the Fund rapid financing program .
A statement from the IMF seen by “obelisk”, “The Fund is ready to help Iraq in its efforts to address the economic effects of the current military operations against al-Daash and address the effects of the fall in world oil prices . ”
He added that “armed struggle against Daash still represents pressure on Iraq’s resources”, adding that “creating a humanitarian tragedy with the displacement of an estimated 3 million people,” adding that “the acts of violence have caused catastrophic damage to infrastructure and assets of the Iraqi private sector “.
The statement continued that “the Iraqi economy shrank by 2.1 percent in 2014,” expected to “achieve a modest recovery by half a percent this year despite the strong growth in the oil sector.” Fund pointed to “drop in exports in the light of the decline in oil prices, leading to a current account deficit is expected to reach 8 percent of GDP in 2015 “.
Foreign currency assets also fell to $ 67 billion in 2014, and expected further decline this year, and that the rise in the budget deficit of 5 percent of GDP this year to about 17 percent of GDP in 2015, with the restriction of expenditure including the field of investment projects.
almasalah.com
