On the Keywords: we underestimated the effects of the financial crisis in Iraq in several ways
On the Keywords: we underestimated the effects of the financial crisis in Iraq in several ways
10-30-2016
Roudao – Dohuk
systems at the American University in Dahuk province, an economic conference, discuss the financial problems in Iraq, with the participation of senior financial and economic officials. The governor of the Iraqi Central Bank, on the Keywords, during the conference , “We underestimated the impact of the financial crisis in Iraq in many ways , ” adding “we were able to provide four trillion dinars thanks to invest in banks, has had a significant impact in improving the economic situation in Iraq.” he stressed that “it is because of the deterioration of oil prices and the decline in revenue forced us to take several measures in order to maintain the Iraqi economy,” noting that ” in order to temper from the financial crisis, we have allowed banks to invest half the amount of liquidity and reserve them, and that was the cause of the utilization by 4 trillion dinars from these banks. if not , there is the money, the situation in Iraq was going to be worse than now. he was also an effect on the unemployment problem and reduce the percentage; We must revitalize the Iraqi economy again. ” as it was getting foreign loans from the international Monetary Fund and World Bank one way the Iraqi government to reduce the financial crisis, said Undersecretary of the Ministry of Finance, Fadhil Nabi, in this regard:” financial centers were not ranked Iraq, when we started talks for the loan, we thought that this category will not help Iraq to reduce the interest rate to a rate of 10.5% and due to this high percentage, we thought of working directly with the centers that deal with the international Monetary Fund , which was imposed on us too many conditions, and were told the IMF that we can not gave you money unless there are guarantees to restore credit, including conduct economic reforms. ” experts confirm the continuation of the granting of Iraq loans by international financial centers linked to the reforms carried out by Iraq, which did not receive Baghdad only a fraction of the $ 16 billion requested.
rudaw.net
