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The Minister of Finance and the Governor of the Central Bank stress the need to expedite the framing of immediate solutions to remedy the financial situation


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The Minister of Finance and the Governor of the Central Bank stress the need to expedite the framing of immediate solutions to remedy the financial situation

5/4/2020

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 Baghdad Today _ Baghdad ,


Minister of Finance, Fouad Hussein, stressed on Monday the need to expedite framing of immediate solutions to remedy the financial situation.
 

The media office of the Minister of Finance said in a statement, "Fouad Hussein, the Deputy Prime Minister for Economic Affairs and the Minister of Finance, today, May 4, presided over an expanded supplementary meeting in the presence of Ali Al-Alaq, Governor of the Central Bank, Undersecretary of the Ministry of Planning, directors of Rafidain and Rashid Banks and the Iraqi Bank of Trade. The meeting was also attended by general managers of departments Budget, taxes, customs, retirement and public debt in order to complete government efforts in examining mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the preparation for the May allocations in light of the continuing low prices of Aft. "
 

The statement clarified that "the current cash deposit deposited by the government has been studied in banks and organizations that generate annual profits and how to restructure these funds and use them to bridge the current shortfall to secure the salaries of Iraqi state employees."


He added: "The meeting also discussed the government's obligations to pay internal debts." And the Ministry of Foreign Affairs, in addition to the need to finance some governmental institutions, given the privacy of their work. 


And he stated that "in another axis of the meeting, they discussed how to provide legal cover or urgent legislative decision to secure the cash liquidity required for the future, whether by borrowing internally or externally to fill the shortfall in the financing process." 
 

The Minister of Finance, and the Governor of the Central Bank, stressed the

👉"need to overcome all obstacles and expedite the framing of immediate solutions to remedy the financial situation in the country,👈

 

as the meeting reached the possibility of walking and advancing through internal solutions at the present time, provided that the government will consider other options in the coming months."

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1 hour ago, DWS112 said:

solutions to remedy the financial situation in the country

They say, they have ways to fix the financial situation in the country...this is a HUGE statement! Everybody else is saying Iraq is going down the drain!

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2 hours ago, DWS112 said:

They say, they have ways to fix the financial situation in the country...this is a HUGE statement! Everybody else is saying Iraq is going down the drain!

DWS112, DV,  Keeping hope alive and hoping the CBI will pull a rabbit out of the HAT....GO RV & RI

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Source:
 
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On Monday, Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein discussed the liquidity situation in banks and organizations.

Hussein's office said in a statement that Alsumaria News received, a copy of it, that "Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein presided this morning an expanded complementary meeting in the presence of Ali Al-Alaq, Governor of the Central Bank and Undersecretary of the Ministry of Planning and directors of Al-Rafidain and Rashid banks and the Iraqi Trade Bank. The meeting was also attended by general managers of departments Budget, taxes, customs, retirement and public debt in order to complete government efforts in examining mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the May allocations in light of the continuing decline in oil prices. "
 
 
He added, "The current cash deposit deposited by the government has been studied in banks and entities that generate annual profits and how to restructure these funds and use them to bridge the current shortfall to secure the salaries of Iraqi state employees," noting that "the meeting discussed the government's obligations to pay internal and external debts In addition to the need to finance some government institutions, given the privacy of their work. "
 
In another axis of the meeting, they discussed how to provide legal cover or urgent legislative decision to secure the required cash liquidity for the future, whether by borrowing internally or externally to fill the shortfall in the financing process.
 
Hussein and Al-Mohafiz emphasized that "all obstacles must be overcome and speed up framing immediate solutions to remedy the financial situation in the country."
 
As the meeting reached the possibility of walking and advancing through internal solutions at the present time, provided that the government will consider other options in the coming months.
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(Independent) ... The Ministry of Finance discussed with the institutions concerned with providing money, the problem of cash liquidity and ways to bridge the shortfall caused by low oil prices, while the meeting decided to resort to internal borrowing currently to secure the salaries of state employees with the use of alternatives in the coming months.


A statement of the Deputy Prime Minister and Minister of Finance's office, which was received by the (Independent) ... said that the   Deputy Prime Minister for Economic Affairs and Minister of Finance Fuad Hussein presided over an expanded supplementary meeting in the presence of   Ali Al-Alaq, Governor of the Central Bank, and the Undersecretary of the Ministry of Planning, and the directors of Al-Rafidain and Rashid banks and the Iraqi Trade Bank, referring to General managers attend the departments of budget, taxes, customs, retirement and public debt.

He added that the meeting was held to complete government efforts in discussing mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the May allocations in light of the continuing decline in oil prices. Annual profits.

He clarified that the way to restructure these funds was used and to cover the current shortage to secure the salaries of Iraqi state employees, discussing the government's obligations to pay internal and external debts as well as the need to finance some government institutions, given the specificity of its work.


The statement added that in another axis of the meeting, a discussion was held on how to provide legal cover or urgent legislative decision to secure the required cash liquidity for the future, whether by internal or external borrowing to fill the shortfall in the financing process. 

Fouad Hussein and the governor also stressed, according to the statement, the need to overcome all obstacles and expedite the framing of immediate solutions to remedy the financial situation in the country, pointing out that the meeting reached the possibility of walking and advancing through internal solutions at the present time that the government discusses other options in the coming months.

The Iraqi Oil Ministry figures showed a sharp decline in revenue from selling crude to about $ 1.5 billion in April from about $ 3 billion in March and from 5 billion in February. (End)

 
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Looks like the CBI and the minister of finance are waiting for the formation of the government to fix the financial situation in the country.

 

Go RV

Go asap

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18 hours ago, Laid Back said:

Looks like the CBI and the minister of finance are waiting for the formation of the government to fix the financial situation in the country.

 

Go RV

Go asap


Agreed my friend.
Suddenly. 

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