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The Finance Committee reveals the mechanism for paying Iraqi debts .. And the Central reveals its policy to control the exchange rate


yota691
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BAGHDAD / tomorrow Press: 
detecting an MP for the parliamentary finance committee, Majida al - Tamimi, that Iraq 's debt stood at $ 119 billion, of which external estimates of $ 80 billion, and the rest is internal debt, noting that the loans go into the pockets of corrupt people and bears interest on the loans. 
She said Tamimi's "Tomorrow 's Press," that "there are negative indicators on monetary policy as well as non - corrupt accountable , " indicating that " the loans they take Iraq went to the corrupt and the people bear their benefits." 
She pointed out that " the apparent corruption through lack of investment loans properly and mostly fake and thefts to the pockets of the corrupt , " adding that " the figures that previously borrowed and squandered the money they borrow and their partners today and they have a certain pedigree." 
She added that "there are a lot of files have been forwarded to the integrity, but there is no deduction for those files and if I stayed in the integrity of the year as possible to escape the corrupt out of Iraq and not be held accountable , " indicating that "Iraq is required payments of up to $ 119 billion, including debt Foreign worth 68 billion to 12 billion but increased by the recent German loan for a total of $ 80 billion. " 
She explained that "Iraq 's debt to the Gulf countries reached $ 40 billion, including $ 4.6 billion of Kuwait was postponed repaid until 2018 because of financial commitments crisis , " indicating that " the debt is treated and that have not been claimed in the present time amounted to 40 billion dollars." 
She stressed that "these figures were taken by the General Director of the debt after a request made by the knowledge of Iraq 's debt , " adding that "there is an internal debt of the government borrowed from the Central Bank, as well as bonds and debt peasants and others."
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Parliamentary Finance reveal overall Iraq's internal and external debt (Details)

30-03-2017 09:30 PM
Number of readers: 1669
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East News -

 

 

Parliamentary Finance Committee revealed on Thursday, the amount of Iraq 's foreign and domestic debt, as showed that some of those debts were in theera of the former regime. 

The committee member said Sarhan Ahmed in a press statement that ' the amount of Iraq 's foreign debt is 23 billion dollars, the internal debt is 46 billion dollars', explaining that the ' amount of debt on Iraq 's external and internal is 114 billion dollars, some of those debt borne by Iraq from the former regime. " 

He called Ahmed, foreign and finance ministries and stakeholders to 'move towards States requesting Iraq, in order to drop some of those debts or whole, through diplomatic dialogue and communication', adding that 'there areshortening clear by the government to move towards the international community to drop or debt reduction Foreign Affairs on Iraq '

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35 minutes ago, yota691 said:

The committee member said Sarhan Ahmed in a press statement that ' the amount of Iraq 's foreign debt is 23 billion dollars, the internal debt is 46 billion dollars', explaining that the ' amount of debt on Iraq 's external and internal is 114 billion dollars, some of those debt borne by Iraq from the former regime. " 

Yota Thanks,  DV,  We know that many countries are still wiling to cancel debt so I'm sure we will know more details in the near term.

 

GO RV / RI

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Actions supporting the path of financial and economic reform

   
 

 
 

15/4/2017 12:00 am 
 
Adnan al-Kanani 
In the light of the consequences of oil prices and their fluctuating volatility Iraq faces today, and before ever, an extraordinary challenge seriously, as it is no longer possible or available postponement of the maturity of addressing the financial and economic situation as a whole and start rapidly in the development of programs to diversify sources of income, Waste in public spending and spending control. 
The central objective of economic reform in Iraq is to achieve a balance in the structure of the national economy, instead of resorting to overloading the economy with external debt such as the World Bank or the International Monetary Fund (which has become nearly 120 billion dollars) and by redefining the role of government in economic activity, The private sector plays a leading role in this activity, enhances the diversity of its sectors, ensures productive employment opportunities for graduates and supports the long-term sustainability of economic and social well-being. 
Financial reform is an important first phase of economic reform, which includes structural, legislative and institutional reforms that ensure a stimulating and attractive investment environment for national and foreign capital. 
The general framework of the supporting measures for the path of financial and economic reform can be drawn through six axes: financial reform, redefining the role of the state in the national economy, increasing the contribution of the private sector to economic activity, participation of citizens in the ownership of projects, reforming the labor market and implementing the civil service council system. 
The focus of financial reform begins by adjusting the estimates of the budget deficit of the state in two stages without reform and after the reform. The estimates of the change in the budget deficit presented in its law, which are calculated under the conservative prices of a barrel of oil start at $ 25 and rise to $ 50 per year And under the assumption that annual expenditure is stable at current levels. 
And then proceed to address the "income" by introducing a tax on business profits and companies at a fixed rate at a certain rate, and after assessing its impact on the consumer and competitiveness of the business sector, the application of value added tax adopted by some Arab countries at a rate of 5 percent of value added in the activities of production of goods and services . 
Then comes the treatment of "expenditures" by rationalizing government spending, reforming the current spending appropriation system and developing the methods of preparing the general budget according to modern international standards. 
The second axis includes redrawing the role of the state in the national economy through the government's monitoring of economic activity to encourage and stimulate the private sector to enter the various sectors of production in order to strengthen partnership with this sector. The increase of private sector participation in economic activity is through supporting privatization programs and expansion in Medium term through allocation of public projects - Partnership projects between the two sectors - Facilitating financing for small and medium enterprises. 
The fourth axis of the participation of citizens in the ownership of projects is through facilitating the entry of citizens as partners in projects that will be presented through the public-private partnership program or the privatization program, as well as by encouraging young people to acquire shares in medium projects financed by public and private banks supporting small and medium enterprises . 
In order to ensure the success of the fifth axis of the reform of the labor market and the civil service system, a number of measures should be taken, namely the implementation of the performance appraisal system, the rehabilitation of national labor, raising the efficiency of the public sector.
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On April 15, 2017 at 8:55 AM, ChuckFinley said:

Let's get this done.  :twothumbs:

I have called Iraq 

i talked to some older guy

random number I dialed

told him push the damn button before

i come over there and push for you

he then invited me for camel steak dinner with a side of goat tail

mmmmmmm

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7 hours ago, davis411 said:

I have called Iraq 

i talked to some older guy

random number I dialed

told him push the damn button before

i come over there and push for you

he then invited me for camel steak dinner with a side of goat tail

mmmmmmm

Did he say. :soon:

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Iraq, May 2, 2017 

Naijba Najeeb, a member of the Iraqi Parliament, expressed concern on Sunday (April 30) that the Iraqi government’s debt is likely to see a further increase as it now owes an estimated $108 billion in external and internal debt.

The Iraqi government could not cope with the wages of state employees without turning to additional internal debt, Najeeb, a member of the Economy and Investment Committee in the Iraqi Parliament disclosed.

The debt consists of an estimated $55 billion from the terrible humanitarian situation prevailing in Iraq before the fall of Saddam Hussein, including the Iraqi invasion of Kuwait, she said.

“Some other debts are the ones owed in 2004 from Japan, the International Monetary Fund and some other countries, in addition to the ones made internally,” Najeeb said.

“The Kurdistan Region has been excluded to have a share from both internal and external debts by the Iraqi government.”

The state’s budget deficit for 2017 which was 22.6 trillion Iraqi Dinars (IQD) has been paid off by borrowing £10 million from Britain, 500 million Euro from Germany, $1 billion from America as well as internal debts.

As a result of the financial crisis, an estimated $66 billion stockpiled reserve in 2014 from banks is now down at $55 billion, according to the Iraqi MP citing the Iraqi Ministry of Finance.

The destruction Iraq’s cities and towns suffered due to the fight against the Islamic State cost the Iraqi government more than $35 billion for rebuilding, according to estimates from the Iraqi Ministry of Planning, Najeeb said.

nrttv

http://iraqdailyjournal.com/story-z15215085

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Economy News Baghdad:

He confirmed the financial advisor to the Prime Minister, the appearance of Mohammed Saleh, Monday, that Iraq is able to pay its debts internal and external through the only border crossing points.

Saleh said in an interview I followed "Economy News", "Iraq is able to pay its debts only border crossing points, but after the work of a great revolution," adding that "the Iraqi government is currently working on the reform of border crossing points."

He added that "the big revolution to reform the border crossings will raise annual revenues from $ 800 million to $ 8 billion," asserting that "Iraq did not fail in its history to pay its debts, and even under difficult circumstances experienced by two years ago." 

It is noteworthy that Iraq's internal and external debt is estimated at 120 billion dollars, according to the Finance Committee of the House of Representatives.

 

Views 833   Date Added 05/08/2017 - 09:43   Last Updated 09/05/2017 - 1:41   No. Content 7435

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  • yota691 changed the title to The Finance Committee reveals the mechanism for paying Iraqi debts .. And the Central reveals its policy to control the exchange rate
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