Saleh: the agreement with the IMF provides for Iraq to obtain long-term soft loans
Saleh: the agreement with the IMF provides for Iraq to obtain long-term soft loans
January 26, 2016
Economic Adviser to the Prime Minister, confirmed the appearance of Mohammed Saleh, said Tuesday that Iraq’s agreement with the International Monetary Fund offers the possibility of obtaining long-term soft loans for the implementation of development projects, noting that the fund is among other conditions, government expenditures, and modified some of the measures on economic policies .
Saleh said in a press statement that “Iraq consults constantly with the International Monetary Fund to get a crane to support the financial sustainability through soft loans,” he returned that “the agreement itself is useful because it is an umbrella for Iraq and give a signal to the international financial community to lend Iraq.”
Saleh added that “the cost of those loans is low and few benefits by about a year, and paid for a long time,” noting that “Iraq has an agreement with the International Monetary Fund, spends his monitor the economic policy of the country.”
He guessed adviser Abadi, the possibility of “turning the agreement with the Fund to a larger level, allows Iraq to obtain soft loans from the International Monetary Fund and the World Bank,” stressing that the “loans if they were going to go for development projects, particularly energy and industries important to the lives of the Iraqi people.”
Saleh continued, that “under the International Monetary Fund, among other conditions, Mserfat government amended some of the procedures relating to economic policy,” adding that “the government restricted their expenses mainly as a result of the crisis in the now.”
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