Iraq resorted to foreign reserves to cover the deficit

[yota691]

Iraq resorted to foreign reserves to cover the deficit

 

PM: 12: 03: 13/01/2016

 

 

 

Khandan - The Iraqi government, in a note to the International Monetary Fund that it "plans to finance the deficit in the balance of payments of withdrawal from Iraq's reserves of foreign, including make it go down to $ 43 billion in 2016 from 59 billion in October last end."The government said under the program approved by the Monetary Fund as a precondition for the loan, "It is expected that the balance of payments deficit of $ 14 billion in 2015, before shrinking to $ 11 billion in 2016". He estimated Iraq that "GDP will grow by 1.5 percent in 2015 and 10.6 percent in 2016 with the increase in production of oil, "whilefalling oil prices will lead to a budget deficit of 15 percent of GDP in 2015 and a deficit of 10 percent in 2016.

 

[yota691]

Iraq sends a memorandum to the IMF expected decline in foreign reserves in 2016

Economy and Tenders

 Since 01.13.2016 at 08:54 (GMT Baghdad)

Follow-up - the balance of News

Iraq said in a memorandum to the International Monetary Fund, he plans to finance the deficit in its balance of payments by drawing on foreign reserves, including make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.

The Iraqi government said under the program approved by the IMF as a precondition for the loan that is expected to reach a balance of payments deficit of $ 14 billion in 2015 to shrink to $ 11 billion in 2016.

Iraq, said the estimated gross domestic product will grow by 1.5 percent in 2015 and 10.6 percent in 2016 to increase its oil production while oil prices fall to a deficit in the budget will result in a 15 percent of GDP in 2015 and a deficit of 10 percent in 2016 ended 29/4 e

[Boozer]

Join the world, they all barrow

[yota691]

01/13/2016 09:00

Iraq resorted to foreign reserves to cover the deficit

 

 

BAGHDAD / Obelisk: The Iraqi government said, in a note to the International Monetary Fund, on Tuesday, it plans to finance the deficit in the balance of payments of withdrawal from Iraq, including foreign reserves will make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.

She said the government, under a program approved by the IMF as a precondition for the loan, it is expected that the balance of payments deficit of $ 14 billion in 2015, before shrinking to $ 11 billion in 2016, according to the report published by "Sky News", and I followed, "the obelisk ".

Iraq estimated that GDP will grow by 1.5 percent in 2015 and 10.6 percent in 2016 with the increase of oil production.

While falling oil prices will lead to a budget deficit of 15 percent of GDP in 2015 and a deficit of 10 percent in 2016.

[yota691]

Iraq resorted to foreign reserves to cover the deficit

01/13/2016

 
 
BAGHDAD / JD / .. The Iraqi government said, in a note to the International Monetary Fund it plans to finance the deficit in the balance of payments of withdrawal from Iraq, including foreign reserves will make it go down to $ 43 billion in 2016 from 59 billion at the end of last October.
According to Sky News Arabic, the government said under the program approved by the IMF as a precondition for the loan, it is expected that the balance of payments deficit of $ 14 billion in 2015, before shrinking to $ 11 billion in 2016.
Iraq estimated that GDP will grow by 1.5 percent in 2015 and 10.6 percent in 2016 with the increase of oil production.
While falling oil prices will lead to a budget deficit of 15 percent of GDP in 2015 and a deficit of 10 percent in 2016. / End / 22 / 

[Carrello]

Not one person's name attributed to this information. It says "the Iraqi government." And does not mention the amendment to the constitution required for the reserves to be loaned to the government. And 10.6% GDP in 2016? It is 5 am and maybe I missed something.

Thanks Yota, and good morning.

[Big_J]

GM rv2016 AND DV. SHORTAGE!

[Big_J]

GM YOTA AND DV. OK, I BELIEVE THAT'S 5 ARTS FOR SHORTAGE AND 1 FOR NO SHORTAGE. CAN I GET A WITNESS! ANYONE? ANYONE?

[Officiallytook]

Amen

[yota691]

Economist: can not borrow from the central bank reserves, but a new law

 

Date:  01/14/2016 18:13

 | Hits: 146

 

 

Information / special / ..

Stressed economist Essam Mahouelle, Thursday, the central bank law does not allow the Iraqi government to borrow from the financial reserves, as pointed out that borrowing is not only the drafting of a new law is contrary to the Bank's borrowing materials.

Said Mahouelle told / information / that "the law on the central bank does not allow the Iraqi government to borrow from the financial reserves because it will reflect negatively on the reality of the Iraqi economy and monetary policy, as well as its impact on fiscal revenue for the country," pointing out that "the financial borrowing from reserves Bank requires the drafting of a new law be different from borrowing materials on the Law of the Central Bank. "

He added that "there are solutions to help Iraq to overcome the financial crisis through the issuance of domestic and foreign securities, as well as borrowing from the Bank and the IMF," calling on the Iraqi government for "activating the productive sectors in the country because they contribute to Brphi general budget money."

The Central Bank of Iraq, last Tuesday, that the government's intention to borrow money from the cash reserves would put the country in the "economic impasse" in front of the international community. And it will put the country's major economic disasters and trouble. Finished / 25's

[yota691]

 

 

Parliamentary calls to change the central bank's policy of selling the dollar

Central Bank refuses directed the government to withdraw from its reserves and prepared "an encroachment on the law."

 

Author: HH, MJ 
Editor: AZ, HH 2016/01/13 17:46 Number of Views: 2397 

 

Long-Presse / Baghdad

Central Bank of Iraq's refusal, on Wednesday, the government went to draw from the financial reserves, and stressed that the law does not allow the government to draw from the hard currency reserves, while calling on the government to issue bonds and sell them to banks.

The general director of issuance and cabinets in the Iraqi Central Bank Ahsan Shomran in an interview to the (long-Presse), "The law does not allow the government to draw from the bank's reserves of hard currency to cover the deficit in its budget for the payments."

Shomran added that "the government is not in need to commit such offense", stressing that "this is unacceptable and is a violation by the government."

Shomran and called on the government to "go for the issuance of bonds to be purchased by banks then deducted when the central bank last fact does not have the liquidity."

 The Reuters news agency revealed on Wednesday (January 13, 2016), that "the International Monetary Fund agreed to the Iraqi government programs funded by the federal budget from its reserves of hard currency deficit as a precondition for granting a loan," noting that it "will lead to a reduction of those reserves of 59 the end of October last billion dollars in 2015, to 43 billion during the current year 2016 ".

The Finance Minister, Hoshyar Zebari, revealed in (the 25th of November 2015), for borrowing Iraq billion and $ 200 million from the International Monetary Fund, stressing that the Fund "has no" conditions in this regard.

The Iraqi Council of Representatives, approved by majority, in (the 16th of December 2015), the draft budget law for fiscal year 2016 the current value in excess of 105 trillion dinars, and the inability of more than 24 trillion dinars.

 

[yota691]

01/16/2016 15:07

Central: Iraq has enough hard currency

 

 

 

BAGHDAD / Obelisk: The Central Bank announced that Iraq has the hard currency enough to cover imports only six months, while the central bank plans to issue international bonds two billion dollars, during the current year 2016.

The governor of the bank in a statement on the Keywords I followed 'Obelisk', Iraq is currently intensify efforts towards borrowing from international institutions to bridge the fiscal deficit.

He assured the Governor of the Central Bank of the citizens of the lack of fear of the rise in the dollar's exchange rate against the Iraqi dinar revealing the launch of local bonds worth $ 5 billion to provide liquidity to the state.

He added that the central bank has foreign currency is the weakness of the local currency in the market, that what happened in the market during the past few days are the attempts to involve the kind of speculation and profit-taking, and may also involve other targets did not mention, but these are referred for an emergency on the market will not stand in front of the central bank's policy.