Iraq seeking more loans and grants to ‘buttress’ the budget

[k98nights]

By Khayoun Saleh

Azzaman, June 14, 2010

The Finance Ministry says it is seeking more loans and grants to ensure that it can cover expenditures, particularly the salaries of public sector employees.

Imad al-Naib, Director-General of the ministry’s Accountancy Department, did not say how much the salaries of public sector personnel cost the government a year. However, they are believed to devour a substantial sum of the country’s oil revenues.

Iraq has a large public sector, which includes the army and security organs. It is by far the country’s largest employer.

“Loans are very important for Iraq to buttress the budget and provide resources to spend on operational expenditures and salaries across the offices run by the state,” Naib said. “Loans make additional income available for the treasury.”

Iraq relies almost solely on oil revenues for its hard currency earnings, but latest gyrations in oil prices are said to have added to budget strains.

“We are looking forward to obtaining more loans … mainly from donor countries,” Naib said.

He said Iraq has already received $440 million as the first installment of a $3.6 billion loan from the Monetary Fund.

Naib said the rest of the money should be ferried to the central bank by the end of 2011.

http://www.azzaman.com/english/index.asp?fname=news\2010-06-14\kurd.htm

[SexyDinar]

By Khayoun Saleh

Azzaman, June 14, 2010

The Finance Ministry says it is seeking more loans and grants to ensure that it can cover expenditures, particularly the salaries of public sector employees.

Imad al-Naib, Director-General of the ministry’s Accountancy Department, did not say how much the salaries of public sector personnel cost the government a year. However, they are believed to devour a substantial sum of the country’s oil revenues.

Iraq has a large public sector, which includes the army and security organs. It is by far the country’s largest employer.

“Loans are very important for Iraq to buttress the budget and provide resources to spend on operational expenditures and salaries across the offices run by the state,” Naib said. “Loans make additional income available for the treasury.”

Iraq relies almost solely on oil revenues for its hard currency earnings, but latest gyrations in oil prices are said to have added to budget strains.

“We are looking forward to obtaining more loans … mainly from donor countries,” Naib said.

He said Iraq has already received $440 million as the first installment of a $3.6 billion loan from the Monetary Fund.

Naib said the rest of the money should be ferried to the central bank by the end of 2011.

http://www.azzaman.com/english/index.asp?fname=news\2010-06-14\kurd.htm

This is about as clear as it's going to get that the RV is along way off from happening..........................................looking for more loans if they were to RV they wouldn't have to so there your answer in black and white start looking towards the end of the year and don't listen to these people who tell us week after week the same old

b u l l s h i t !!!!!

Edited June 14, 2010 by SexyDinar

[gregg450]

How can they be seeking more money from DONOR countries when they never paid back all of the debt from before? Do they think everyone is stupid?

RV already and pay for your own SH#&!

[mariejose]

This is about as clear as it's going to get that the RV is along way off from happening..........................................looking for more loans if they were to RV they wouldn't have to so there your answer in black and white start looking towards the end of the year and don't listen to these people who tell us week after week the same old

b u l l s h i t !!!!!

SEXYDINAR--I HAVE BEEN GOING OVER YOUR PREVIOUS POST, AND I HAVE TO SAY YOU SEEM TO BE A VERY NEGATIVE AND ANGRY PERSON-- THIS TYPE OF ATTITUDE DOES NOT SERVE ANY USEFUL PURPOSE. BUT YOU ARE ENTITLED TO YOUR OPINION-- PLEASE TRY NOT TO BRING YOUR NEGETIVE VIBES WITH YOU. IF YOU DON'T HAVE ANYTHING POSITIVE TO SAY --KEEP YOUR FINGERS QUIET.

[SexyDinar]

SEXYDINAR--I HAVE BEEN GOING OVER YOUR PREVIOUS POST, AND I HAVE TO SAY YOU SEEM TO BE A VERY NEGATIVE AND ANGRY PERSON-- THIS TYPE OF ATTITUDE DOES NOT SERVE ANY USEFUL PURPOSE. BUT YOU ARE ENTITLED TO YOUR OPINION-- PLEASE TRY NOT TO BRING YOUR NEGETIVE VIBES WITH YOU. IF YOU DON'T HAVE ANYTHING POSITIVE TO SAY --KEEP YOUR FINGERS QUIET.

If you like wearing your blinkers then carry on doing so but wake-up and smell the stink coming out of Iraq!!!!!

People like you don't want to know the truth which I find quite sad as you probably only read the good without the negitive so your reply means nothing to me, someday you will understand too.....................

Edited June 14, 2010 by SexyDinar

[kjwayne]

Sexy, you say it the way you want to say it. You have that right! I or we ,might not agree with you but you have that right! I tend to agree that this thing just does not make alot of sence. NO ONE has the right to tell anyone not to be negitive or green or whatever. ENUFF SAID!

[caz1104]

What happened to all of that pressure from the European community,China,& USA to get the RV done? Maybe not as much clout or muscle as one would think or advertised!

[kevin21655]

iraq will beg and steal just as it as for years. as long as u are giving they are taking . no rv till money is gone, that maybe never.