International Monetary Fund said that the Iraqi economy will experience a sharp slowdown during the current year 2020.

[Mary B]

International Monetary Fund: Iraqi economy will slow sharply in 2020

POSTED ON 2020-04-15 BY SOTALIRAQ

 

On Wednesday, the International Monetary Fund said that the Iraqi economy will experience a sharp slowdown during the current year 2020.

The fund stated in a report that it is expected that there will be a sharp slowdown in the Iraqi economy this year, followed by a strong recovery in 2021.

He added that "Iraq increased its real GDP in 2019 to 3.9%, but it is expected that this year will decrease by 4.7%, while next year 2021 will grow significantly by 7.2%."

He expected that "consumer price inflation will reach 0.8% in 2020 and 1.0% in 2021".

He pointed out that "the pandemic of COVID-19 will cause human costs to rise and rise all over the world, and the necessary protection measures severely affect economic activity."

He noted that "as a result of the epidemic, the global economy is expected to contract sharply by -3% in 2020, which is much worse than it was during the 2008-2009 financial crisis."

 

http://www.sotaliraq.com/2020/04/15/صندوق-النقد-الدولي-الاقتصاد-العراقي-س/

[Flamtap]

Thanks Mary B.

 

I just don't see it getting any slower than it is now.....I think this is put out to initially hide their hand and keep the people from seeing what is really going to take place very soon. I do however believe part of the report where it states their economy will grow next year. This may also be a sign for them to get the government straight and borrow from the Central Bank which will RV/RI.

 

Post RV/RI it will continue to grow.....JMMHO. 

 

 

[DinarThug]

LINK

International monetary forecast a sharp slowdown in the Iraqi economy this year and a strong recovery next year

 

15th April, 2020

 

The International Monetary Fund expected, on Wednesday, a sharp slowdown in the Iraqi economy this year, followed by a strong recovery next year

The fund said in a report for the month of April that it is expected "that there will be a sharp slowdown in the Iraqi economy this year, followed by a strong recovery in 2021
 
He added that "Iraq increased its real GDP in 2019 to 3.9%, but it is expected that this year will decrease by 4.7%, while next year 2021 will grow significantly by 7.2%
 
He expected that "consumer price inflation in Iraq will reach 0.8% in 2020 and 1.0% in 2021
 
He pointed out that "the pandemic of COVID-19 will cause human costs to rise and rise all over the world, and the necessary protection measures severely affect economic activity
 
He noted that "as a result of the epidemic, the global economy is expected to contract sharply by -3% in 2020, which is much worse than it was during the 2008-2009 financial crisis

[DinarThug]

LINK

IMF Predicts Strong Recovery for Iraq in 2021

In its latest World Economic Outlook (WEO), the International Monetary Fund (IMF) has forecast a sharp slowdown in Iraq's economy this year, followed be a strong recovery in 2021.

It says:

"The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity.

"As a result of the pandemic, the global economy is projected to contract sharply by -3 percent in 2020, much worse than during the 2008-09 financial crisis."

Following a 3.9-percent increase in Iraq's real GDP in 2019, it predicts a fall of 4.7 percent this year, and growth of 7.2 percent next year.

Consumer price inflation is expected to be 0.8 percent in 2020 and 1.0 percent in 2021.

Full report here.

[SocalDinar]

7.2 % growth rate is very optimistic. Lets see what they can do.

Thanks Thug!

[kwg]

Probably means they are going to RV soon 🤣 there's that word again!!! Can't believe a word they are saying for obvious reasons. Probably do exactly the opposite of what they are saying JMO.

[TOMINVEGAS]

Nothing but corruption in Iraq....Hope the IMF doesn’t give them any emergency money.

[jeepguy]

Errrrrreeaacchhhhh!!!! 

The sounds of wheels of commerce ,

Coming to a halt ! 

Or 

Erch   😄

[boosterbglee]

Camels stopping quickly in sand.....not sure what that sound is!😂

[Pitcher]

I’m way ahead of the crowd.  I hired a camel to come to Houston to do my grocery shopping.  I told him to get something besides water but he insists you can’t have too much water.  

 

[Pitcher]

4 hours ago, DinarThug said:

IMF Predicts Strong Recovery for Iraq in 2021

 

Define Strong

 

Are we talking Arnold Schwarzenegger Super RV Strong!

 

 

Or are we talking, just strong enough to get to the edge of the lake Strong. 😂 😝 

 

 

 

[DinarThug]

7 minutes ago, Pitcher said:

Or are we talking, just strong enough to get to the edge of the lake Strong. 😂 😝 

Is That Kaperoni Attempting To Demonstrate His Float Theory ?  

 

 

     

[Mary B]

Iraq approached the International Monetary Fund to stop the payment of debt ... and no response!

 

 

 

The General Secretariat of the Council of Ministers revealed that there are overtures between the government and the International Monetary Fund to stop collecting the debts incurred by Iraq , pending a response.

"There is no response at the present time, and there are no claims for payment," said Alaa Al-Fahd, spokesman for the government media and government communications office in the municipality.

Al-Fahd explained: "The government, every year when it has a deficit, approached the World Bank to lend it in order to finance the budget, and this year there are many things that will be taken into consideration, as the United States proposed stopping the debt repayment at this stage, which is a good thing." , Noting: "The debt of Iraq to be paid to the IMF this year is estimated at more than 10 billion dollars."

He added: "The economy of Iraq is unstable, because it depends on oil by 95 percent and the remaining 5 cannot be collected now, because of the lack of taxes, fees, etc.", noting that the move does not include international cash only, but to stop deducting the debts of Kuwait and the entitlements of the Arab League, knowing that the total It is estimated at approximately 139 billion dollars.

 

https://www.thebaghdadpost.com/ar/Story/193554/العراق-يفاتح-صندوق-النقد-الدولي-لايقاف-استيفاء-الديون-ولا-رد

[6ly410]

The International Monetary Fund confirms its readiness to cooperate with Iraq to prioritize public spending

  http://economy-news.net/content.php?id=19841
 money and business
Economy News _ Baghdad

The International Monetary Fund, Friday, confirmed its readiness to assist Iraq in prioritizing public spending in light of the drop in oil prices and the implications of the emerging Corona virus.
A press release issued by the Information Office of the Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein, "Al-Iqtisad News" received a copy of it, "The latter met, through closed-circuit television, with Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and the delegation Accompanying him, the meeting was attended by Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance and Salem Al-Pulabi, Adviser to the Prime Minister.
The statement added, "At the beginning of the meeting, Fuad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of the Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million Barrel per day to global markets. Iraq’s acceptance to reduce more than a million barrels per day of Iraqi production, and the impact of this decision and the decline in oil prices on the financial and economic situation in Iraq. He also explained the measures studied on how to deal with this situation and the government's ways to confront these challenges.
On the situation of the market and the availability of foodstuffs, Hussein emphasized, "The abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market." And this is considered positive under the current circumstances and the local market prices were not affected due to the closure of the border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease.
He referred to "the development taking place in the agricultural sector," stressing that "the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of the fight against the Corona virus pandemic and the financial crisis."
For his part, Jihad explained, "The Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and arrange priorities for public spending, and expressed the possibility of Iraq benefiting from the financial facilities provided by the Fund to member countries."
The delegation of the Fund stressed that "it is important to continue dealing and communicating with international financial organizations as the" Fund "is ready to discuss with various countries to help Iraq in the health and financial fields."

 

Number of views 17 Date added 04/17/2020

[DinarThug]

IMF - Ignorant MoFo’s !  

 

 

Of Course That Could Also Be The Camel Herding Iraqi’s ...

 

     
 

 

LINK

International Monetary confirms its readiness to assist
Iraq in prioritizing public spending

 

 

17th April, 2020
 

The International Monetary Fund, on Friday, confirmed its readiness to assist Iraq in prioritizing public spending in light of low oil prices and the consequences of the emerging Corona virus.

A press release issued by the Information Office of the Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein received / Mawazine News / a copy of it, "The latter met, through closed-circuit television, with Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and the delegation Accompanying him, the meeting was attended by Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance and Salem Al-Pulabi, Adviser to the Prime Minister.

The statement added, "At the beginning of the meeting, Fuad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of the Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million Barrel per day to global markets. Iraq’s acceptance to reduce more than a million barrels per day of Iraqi production, and the impact of this decision and the decline in oil prices on the financial and economic situation in Iraq. He also explained the measures studied on how to deal with this situation and the government's ways to confront these challenges.

On the situation of the market and the availability of foodstuffs, Hussein emphasized, "The abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market." And this is considered positive under the current circumstances and the local market prices were not affected due to the closure of the border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease. He referred to "the development taking place in the agricultural sector," stressing that "the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of the fight against the Corona virus pandemic and the financial crisis."

For his part, Jihad explained, "The Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and arrange priorities for public spending, and expressed the possibility of Iraq benefiting from the financial facilities provided by the Fund to member countries." The delegation of the Fund stressed that "it is important to continue dealing and communicating with international financial organizations as the" Fund "is ready to discuss with various countries to help Iraq in the health and financial fields." 

 

############

 

The International Monetary Fund confirms its readiness to cooperate with Iraq to prioritize public spending    
LINK

[Mary B]

The International Monetary Fund confirms its readiness to cooperate with Iraq to prioritize public spending

 

Economy News _ Baghdad The International Monetary Fund, Friday, confirmed its readiness to assist Iraq in prioritizing public spending in light of the drop in oil prices and the implications of the emerging Corona virus. A press release issued by the Information Office of the Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein, "Al-Iqtisad News" received a copy of it, "The latter met, through closed-circuit television, with Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and the delegation Accompanying him, the meeting was attended by Salah Al-Din Al-Hadithi, Director General of the Public Debt Department at the Ministry of Finance and Salem Al-Pulabi, Adviser to the Prime Minister. The statement added, "At the beginning of the meeting, Fuad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of the Corona virus and low oil prices and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about ten million Barrel per day to global markets. Iraq’s acceptance to reduce more than a million barrels per day of Iraqi production, and the impact of this decision and the decline in oil prices on the financial and economic situation in Iraq. He also explained the measures studied on how to deal with this situation and the government's ways to confront these challenges. On the situation of the market and the availability of foodstuffs, Hussein emphasized, "The abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the existence of storage and food cover for the local market." And this is considered positive under the current circumstances and the local market prices were not affected due to the closure of the border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease. He referred to "the development taking place in the agricultural sector," stressing that "the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of the fight against the Corona virus pandemic and the financial crisis." For his part, Jihad explained, "The Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and arrange priorities for public spending, and expressed the possibility of Iraq benefiting from the financial facilities provided by the Fund to member countries." The delegation of the Fund stressed that "it is important to continue dealing and communicating with international financial organizations as the" Fund "is ready to discuss with various countries to help Iraq in the health and financial fields."   http://economy-news.net/content.php?id=19841

[Mary B]

6ly410

 

I'm sorry for my double post after yours

 

The International Monetary Fund confirms its readiness to cooperate with Iraq to prioritize public spending

  http://economy-news.net/content.php?id=19841

[DinarThug]

8 minutes ago, Mary B said:

6ly410

 

I'm sorry for my double post after yours

Don’t Worry, 6ly Is One Of The Bro’s - He’s Used To Doing Things In Pairs !  

 

 

     

[Mary B]

20 minutes ago, DinarThug said:

Don’t Worry, 6ly Is One Of The Bro’s - He’s Used To Doing Things In Pairs !  

 

 

     

😁

[DinarThug]

The Minister of Finance announces the results of Iraq talks with the International Monetary Fund

04/17/2020 06:16:28 PM

 

Baghdad - people

 

On Friday, the Ministry of Finance announced the results of Minister Fouad Hussein's discussions with the International Monetary Fund, in light of the current economic crisis due to the pandemic of the Corona outbreak.

A statement issued by the Finance Minister’s office, "People” received a copy of it today (April 17, 2020), “Minister Fuad Hussein met, through closed-circuit television, with Dr. Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund in Washington and the accompanying delegation For him, the meeting was attended from the Iraqi side by the Director General of the Public Debt Department at the Ministry of Finance Salahuddin Al-Hadithi and Advisor to the Prime Minister Salem Al-Pulbi.

The statement added that "at the beginning of the meeting, Finance Minister Fuad Hussein clarified the most prominent challenges facing Iraq in light of the crisis of the spread of Corona virus, low oil prices, and the recent meeting of OPEC with oil countries outside the organization called (OPEC Glass), where a decision was taken to reduce the export of about Ten million barrels per day to global markets, and Iraq’s acceptance to cut more than a million barrels per day of Iraqi production, and the impact of this decision and lower oil prices on the financial and economic situation in Iraq. ”

The statement continued, "The Deputy Prime Minister for Economic Affairs and the Minister of Finance explained the studied measures on how to deal with this situation and the government's ways to face these challenges."

 

Concerning the market situation and the availability of foodstuffs, Minister Fouad Hussein stressed, according to the statement, "the abundance of agricultural commodities and animal products in the Iraqi market, and this is due to the decisions taken at the meetings of the Ministerial Council of Economy, where the Ministry of Agriculture was supported to protect local agricultural and animal products, which led to the presence of Storage and food cover for the local market, and this is considered positive in light of the current conditions and the lack of the local market prices due to the closure of the border outlets and the interruption of trade exchange with other countries due to the spread of Corona disease.

 He also referred to "the development in the agricultural sector," stressing also that "the current government plays a role in finding possible solutions to cross and avoid the current crisis in light of the fight against the Corona virus pandemic and the financial crisis."

 

For his part, Jihad Azour, head of the Middle East and Central Asia division at the International Monetary Fund, confirmed "the Fund's readiness to provide assistance and cooperation with Iraq in order to develop a financial plan and prioritize public spending," noting that "Iraq can benefit from the financial facilities provided by the Fund to member countries."

The Fund delegation stressed that "it is important to continue dealing and communicating with international financial organizations as the Fund is ready to discuss with different countries to help Iraq in the health and financial fields."

LINK