Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Iraqi Prime Minister discusses economic reform efforts with a representative of the World Bank mission


Recommended Posts

Iraqi Prime Minister discusses economic reform efforts with a representative of the World Bank mission

Iraqi Prime Minister discusses economic reform efforts with a representative of the World Bank mission
Iraqi Prime Minister, Mustafa Al-Kazemi, during his meeting with the Special Representative of the World Bank Mission in Iraq, Ramzi Numan
 May 12, 2020 03:35 PM

Mubasher: The Iraqi Prime Minister, Mustafa Al-Kazemi, received today, Tuesday, the Special Representative of the World Bank Mission in Iraq, Ramzi Numan .

Ways have been discussed to coordinate work between the Iraqi government and international institutions to overcome the economic crisis, according to a statement of the Information Office of the Prime Minister.

Al-Kazemi also discussed with the Special Representative of the World Bank Mission in Iraq work to launch economic reform efforts, which would encourage investment and reconstruction, enhance the service reality, and provide job opportunities .

The former Iraqi Minister of Planning, Nuri Sabah Al-Dulaimi, received on April 28 last , the representative of the World Bank in Iraq, Ramzi Numan, and his accompanying delegation.

During the meeting, a number of issues of common concern were discussed, and ways of strengthening national efforts facing the emerging epidemic of the Corona Virus pandemic.

Noaman affirmed that the World Bank is ready to provide possible support and restructure the loans granted to Iraq, in a way that contributes to protecting the vulnerable sectors of society.

  • Thanks 1
  • Upvote 3
Link to post
Share on other sites
 

 05/12/2020 08:19:50

Shafaq News / Today, Tuesday, Prime Minister Mustafa Al-Kazemi received the Special Representative of the World Bank Mission in Iraq Ramzi Numan.

According to a statement issued by the media office of the Prime Minister, and reported to Shafaq News, the two sides discussed ways to coordinate work between the Iraqi government and international institutions to overcome the economic crisis, and work to launch economic reform efforts that would encourage investment and reconstruction, enhance the service reality, and provide job opportunities .

 
  • Like 1
  • Upvote 3
Link to post
Share on other sites
  
%D9%85%D8%B5%D8%B7%D9%81%D9%89-%D8%A7%D9

The information / Baghdad ..

Prime Minister Mustafa Al-Kazemi discussed, Tuesday, with the Special Representative of the World Bank Mission in Iraq , the financial crisis in the country due to low oil prices and the spread of the Corona virus.

Al-Kazemi’s office said, in a statement received / information / that “Prime Minister Mustafa Al-Kazemi received the Special Representative of the World Bank Mission in Iraq , Ramzi Numan.”

He added, "We discussed ways to coordinate work between the Iraqi government and international institutions to overcome the economic crisis, and work to launch economic reform efforts that would encourage investment and reconstruction, enhance the service reality, and provide job opportunities." 25 h has ended

  • Like 1
  • Upvote 3
Link to post
Share on other sites

Al-Kazemi and the World Bank representative discuss several issues, including economic reform

Political | 03:12 - 12/05/2020

 
image
 
 

 

Baghdad - Mawazine News,
Prime Minister Mustafa Al-Kazemi discussed, Saturday, with the representative of the World Bank in Iraq, several files, including bypassing the economic crisis.
The Prime Minister's Office said in a statement received by / Mawazine News / a copy of it, that "Al-Kazemi received the Special Representative of the World Bank Mission in Iraq Ramzi Numan."
He added, "Ways have been discussed to coordinate work between the Iraqi government and international institutions to overcome the economic crisis, and work to launch economic reform efforts that would encourage investment and reconstruction, enhance the service reality, and provide job opportunities." Ended 29 / h

  • Like 1
  • Thanks 3
  • Upvote 1
Link to post
Share on other sites

I hope this World Bank rep gave him some advice like, we won't talk about money or bail outs because we know that doesn't work for Iraq. BUT we will talk about how to get your economy back on track starting with the new elections an getting rid of some of the thieves and corruption in your government. 

Maybe he will tell him throwing money at a situation doesn't work an use the USA as an example. He could also tell him to retrieve from archives an review the recommendations from the WB, IMF, US treasury an other past entities for guidance. 

If the WB & IMF sticks to their guns an makes this new PM think outside the traditional Iraqi logic of begging for money an wanting every country to give them money, we might have a chance...

  • Thanks 3
  • Upvote 4
Link to post
Share on other sites
44 minutes ago, DoD said:

I hope this World Bank rep gave him some advice like, we won't talk about money or bail outs because we know that doesn't work for Iraq. BUT we will talk about how to get your economy back on track starting with the new elections an getting rid of some of the thieves and corruption in your government. 

Maybe he will tell him throwing money at a situation doesn't work an use the USA as an example. He could also tell him to retrieve from archives an review the recommendations from the WB, IMF, US treasury an other past entities for guidance. 

If the WB & IMF sticks to their guns an makes this new PM think outside the traditional Iraqi logic of begging for money an wanting every country to give them money, we might have a chance...

 

Agreed....the cynical side of me says that’s asking allot from those incapable ( perhaps ) of thinking outside the traditional Iraqi logic box.

However, they may reluctantly understand they’ve run out of options and reforms & RI/RV IS the only option left if they wish to survive.

We’ll see.

  • Thanks 3
Link to post
Share on other sites
3 minutes ago, ChuckFinley said:

He better not be talking about printing more money.

 

 

 

That would be a disaster for them   Basically lowers the value of the Dinar if there is too much money out in circulation.  

Puts a band-aid on the huge hole in the hull of the ship.   

  • Upvote 1
Link to post
Share on other sites
3 minutes ago, jcav said:

 

That would be a disaster for them   Basically lowers the value of the Dinar if there is too much money out in circulation.  

Puts a band-aid on the huge hole in the hull of the ship.   

 

Exactly, they were actually talking about that as an option. 

  • Upvote 1
Link to post
Share on other sites

4h
Prime Minister @MAKadhimi
 Receives the Special Representative of the World Bank Mission in Iraq, Mr. Ramzi Numan, where ways of coordinating work between the Iraqi government and international institutions to overcome the economic crisis were discussed, and work to launch economic reform efforts that would encourage investment and reconstruction.

 

  • Thanks 1
Link to post
Share on other sites

Few days ago Al-Kazemi approved the internal and external borrowing law. 
 

I believe they have 2 options:

 

1- continue borrowing money and create a bigger debt for the nation.

2- make the IQD international recognized and give It a real market value.

 

Go RV

  • Like 1
  • Thanks 2
  • Upvote 3
Link to post
Share on other sites
2,423 views

The World Bank announced today, Wednesday, the allocation of 33.6 million dollars to Iraq to support the country's efforts to confront the Corona virus, stressing its readiness to support Iraq’s efforts to contain the rapid spread of the virus.

The bank said in a statement, Alsumaria News received a copy of it, that "in response to the outbreak of Corona Virus (Covid-19) in Iraq, the World Bank recently agreed to reallocate 33.6 million US dollars as part of the emergency operations project for development being implemented (750 million dollars) to support Efforts of the Ministry of Health in the prevention, detection and response to the COVID-19 epidemic. "
 

“This rapid and emergency response comes in two phases. The World Bank initially provided $ 7.8 million in available resources under the Emergency Operations for Development project to help finance the supply of basic medical equipment and supplies and to enhance the capacity of the ICU in Public hospitals to improve management of cases infected with COVID-19. Through cooperation with the United Nations Office for Project Services (UNOPS), health centers in Iraq will be delivered artificial respirators, beds for intensive care units and portable X-ray machines in addition to planning devices To flip it within four to eight weeks. "
 

He added, “In a later step, the World Bank also approved the request of the Government of Iraq to reallocate an additional $ 25.8 million in the framework of the project itself to provide additional quantities of medical equipment and supplies and support the training of front-line health workers in their use. The expedited procurement procedures will ensure For the United Nations Office for Project Services to deliver medical supplies in a timely manner to the Ministry of Health. "

The statement quoted Saroj Kumar Jah, Regional Director of the Mashreq Department at the World Bank: “The epidemic is expected to affect particularly poor and vulnerable families. The World Bank confirms its willingness to support Iraq’s efforts to contain the rapid spread of the virus and to enhance the Ministry of Health’s ability to absorb the additional pressure that the epidemic poses. On the Iraqi health system. "
  • Upvote 2
Link to post
Share on other sites
 
2106.jpg
World Bank logo
  

 money and business


Economy News - Baghdad

The World Bank has announced the allocation of $ 33.6 million to help Iraq cope with the spread of the Coronavirus.

The bank said in a statement seen by the "Economy News", that "in response to the outbreak of the Corona virus (Covid-19) in Iraq, the World Bank recently agreed to reallocate 33.6 million US dollars as part of the emergency operations project for development being implemented (750 million dollars) To support the efforts of the Ministry of Health in the prevention, detection and response to the COVID-19 epidemic . "

"This rapid and emergency response is in two phases. The World Bank initially provided US $ 7.8 million in available resources under the Emergency Operations for Development project to help finance the supply of essential medical equipment and supplies and enhance the capacity of the ICU in hospitals," the statement added. The general improvement of the management of cases infected with COVID-19 ".

He continued, "Through cooperation with the United Nations Office for Project Services ( UNOPS ), artificial respirators, beds for intensive care units and portable X-ray machines in addition to ECGs will be delivered within four to eight weeks."

He stressed that "the World Bank also approved the request of the Government of Iraq to reallocate an additional $ 25.8 million in the framework of the project itself to provide additional quantities of medical equipment and supplies and support the training of health workers on the front lines in their use ...".

 
 
Number of views 28   Date added 13/05/2020
  • Upvote 2
Link to post
Share on other sites
  •  Time: 05/22/2020 11:24:29
  •  
  •  Read: 1,274 times
The World Bank helps Iraq confront Corona with more than $ 30 million
  
{International: Al Furat News} The World Bank announced today, Wednesday, the allocation of more than $ 30 million to help Iraq in the face of the Corona pandemic, indicating that this assistance will be in two phases, while the epidemic is expected to affect "poor and vulnerable families" in particular.

In a statement, in response to the outbreak of the Corona Virus (Covid-19) in Iraq, he said that he recently agreed to reallocate $ 33.6 million as part of the Emergency Operations for Development project ($ 750 million) to support the Ministry of Health's efforts to prevent the COVID epidemic. 19, discover and respond to it.
"This rapid and emergency response comes in two phases," the World Bank added, explaining that "it initially provided $ 7.8 million in available resources under the Emergency Operations for Development project to help fund the supply of basic medical equipment and supplies and enhance the capacity of the ICU ( ICU) in public hospitals to improve management of cases infected with COVID-19 ".
He continued, "Through cooperation with the United Nations Office for Project Services (UNOPS), health centers in Iraq will be given artificial respirators, beds for intensive care units and portable X-ray machines in addition to ECGs within four to eight weeks."
In a later step, the World Bank made clear in its statement that it "approved the request of the Government of Iraq to reallocate an additional $ 25.8 million in the framework of the project itself to provide additional quantities of medical equipment and supplies and support the training of health workers on the front lines in their use," noting "The expedited procurement procedures will ensure that UNOPS delivers timely medical supplies to the Ministry of Health."
Commenting on this, Saroj Kumar Jah, Regional Director of the Mashreq Department at the World Bank said: “The epidemic is expected to affect particularly poor and vulnerable families, expressing its willingness” to support Iraq’s efforts to contain the rapid spread of the virus and enhance the Ministry of Health’s ability to absorb the additional pressure it creates The epidemic on the Iraqi health system. ”
The bank emphasized that“ the process of reallocating resources will not affect the activities mainly monitored within the framework of the emergency operations project for development which aims to support Iraq in rebuilding the damaged infrastructure and re-providing public services in the targeted municipalities. ”
And he stated that, "drawing on the procurement and financial management procedures of the World Bank for the supply of goods, works and consulting services within the project, more than 3 million people in five governorates liberated from ISIS are already benefiting from better health services by rehabilitating the damaged clinics and equipping 14 mobile clinics 82 ambulances, and they benefit from 35% of reconnections to the electrical network and improvement in key municipal services by providing clean drinking water and waste collection plans, and restoring mobility by rebuilding 400 km of roads and 25 critical bridges The project also contributes to promoting confidence-building and reconciliation between the state and the citizen by training 79 NGOs and more than 1,000 young men and women in peaceful dialogue and reconciliation in their societies.
It is worth noting that the Emergency Operations for Development project was originally approved in July 2015 in the amount of USD 350 million, then additional funding for the project in the amount of USD 400 million was approved later in October October 2017 to allow the expansion of the geographical scope of the project activities Current cities to additional cities liberated from ISIS.
Ammar Al-Masoudi finished

  • Thanks 2
  • Upvote 1
Link to post
Share on other sites

Baghdad, May 12, 2020 — In response to the COVID-19 outbreak in Iraq, the World Bank has recently approved the re-allocation of U$33.6 million under the current Emergency Operation for Development Project (EODP-US$750 million) to support the Ministry of Health’s efforts in preventing, detecting, and responding to the COVID-19 pandemic.

This fast track emergency response comes in two phases. The World Bank initially mobilized US$7.8 million from resources that were immediately available under the EODP to help finance the supply of essential medical equipment and supplies and strengthen intensive care unit (ICU) capacity at public hospitals for improved COVID-19 case management. Through cooperation with the United Nations Office for Project Services (UNOPS), ventilators, ICU beds, ECG machines, mobile X-ray machines and defibrillators will be delivered to designated sites in four to eight weeks.

In a follow-up step, the World Bank also approved the Government of Iraq’s request to re-allocate an additional US$25.8 million under the project to supply additional quantities of equipment and consumables and support the training of health workers and front-line responders on their use.  The expedited procurement procedures of UNOPS will ensure the timely delivery of medical supplies to the Ministry of Health.

“The pandemic is expected to particularly hit poor and vulnerable households. The World Bank stands ready to support Iraq’s efforts to contain the rapid spread of the virus and strengthen the capacity of the Ministry of Health to address the additional strain the pandemic poses on the Iraqi health system,” said Saroj Kumar Jha, World Bank Mashreq Regional Director.

The reallocation of funds does not affect the initial scope of the Emergency Operation for Development Project which aims to support Iraq in the reconstruction of damaged infrastructure and the restoration of public services delivery in targeted municipal areas. As a matter of fact, and through the procurement of goods, works and consulting services using World Bank’s procurement and financial management regulations, over 3 million people in five governorates liberated from ISIS are already benefiting from improved health services through the rehabilitation of damaged clinics and the supply of 14 mobile clinics and 82 ambulances, restored electricity connectivity by 35%, improved  key municipal services with the provision of purified drinking water and waste collection schemes, and restored access through the reconstruction of 400 km of roads and 25 critical bridges. The project is also contributing to promoting state/citizen trust-building and reconciliation through the training of 79 non-governmental organizations and over 1,000 young men and women on peaceful dialogue and reconciliation in their communities.

The Emergency Operation for Development Project was initially approved in July 2015 in the amount of US$350 million. An additional financing to the project in the amount of US$400 million was later on approved in October 2017 to allow the geographic scale-up of existing project activities to additional cities liberated from ISIS.

World Bank Group COVID-19 Response

The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. We are increasing disease surveillance, improving public health interventions, and helping the private sector continue to operate and sustain jobs. Over the next 15 months, we will be deploying up to $160 billion in financial support to help countries protect the poor and vulnerable, support businesses, and bolster economic recovery, including $50 billion of new IDA resources in grants or highly concessional terms.

  • Upvote 1
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



  • Similar Content

    • By yota691
      A new international classification .. Iraq is one of the upper middle income economies
           2020-08-29 07:34   Shafaq News / The World Bank considered on Saturday that Iraq is one of the economies with higher middle income, indicating that these economies consist of 56 countries .
      The bank said in a report seen by Shafaq News Agency that "Iraq is one of the economies with upper middle income," indicating that "these economies range in terms of per capita gross national income between $ 4,046 and $ 12,535 ."
      "These economies consist of 56 countries, in addition to Iraq, they also consist of Albania, Argentina, China, Jordan, Brazil, Turkey, Lebanon, Libya, Malaysia, South Africa and Thailand, " he added.
      He pointed out that "low-income economies are those that have a per capita national income of 1035 and included 29 countries including Eritrea, Yemen, Sudan and Syria," noting that "the high-income economies consist of 83 countries, including Qatar, the UAE and Bahrain from Arab countries, Italy, Austria and Germany . "
      The World Bank classifies countries in the world into four groups - low-income, lower-middle-income countries, upper-middle-income countries, and high-income countries. It is estimated on the basis of gross national income per capita at the current US dollar rate.
       
       
    • By Butifldrm
      Analysis .. The world is approaching the fourth wave of debt
       February 09, 2020 03:07 PM
      Mubasher - Ahmed Shawky : Amidst the World Bank warning of a massive wave of debt escalating all over the world, it is not clear who will be affected the most.
      But if the countries most vulnerable to the brunt of the debt wave, from the UK to India, do not act soon, they may face severe economic damage, according to Kyushik Paseo, a former World Bank economist, through an analysis published by Project Syndicate.
      Over the past decade, the global economy has seen a steady accumulation of debt, now reaching 230 percent of global GDP, with the fact that the last three debt waves have caused a major economic recession around the world.
      The catastrophic past of debt
      The first debt wave was in the early 1980s, after 10 years of low borrowing costs that enabled governments to expand their balance sheets considerably, interest rates began to rise, making debt service increasingly unsustainable.
      Mexico was the first victim, as the US government and the International Monetary Fund were informed in 1982 that they could no longer pay their debts.
      This had a domino effect, as 16 Latin American countries and 11 least developed countries outside the region eventually rescheduled their debt.
      In the 1990s, interest rates were again low, raising global debt again.
      The crash came in 1997, when the fast-growing but financially vulnerable East Asian economies - including Indonesia, Malaysia, South Korea and Thailand - experienced a sharp slowdown in growth and their currency rates plunged, thus extending effects to all parts of the world.
      But emerging economies are not alone vulnerable to such meltdowns, as demonstrated by the 2008 US mortgage crisis.
      By the time everyone discovered what the mortgage crisis meant, American investment bank Lehman Brothers had collapsed, causing the worst crises and recessions since the Great Depression.
      The fourth wave of debt
      The World Bank recently warned that the fourth debt wave may exceed in its first three waves, as emerging economies whose debt-to-GDP ratio reached a record low of 170 percent are particularly vulnerable.
      As in previous cases, the debt crisis increases due to lower interest rates, while anxiety will start as soon as interest starts to rise.
      The reality is that the mechanisms of such crises are not well understood, but research conducted by "Stephen Morris" and "Mortar Song Shin" in 1998 about the mysterious origins of currency crises, and how they are transmitted to other economies, shows that a "financial tsunami" can make the situation go beyond a source the crisis.
      How the source of the financial crisis could fade has been illustrated in the delightful short story "Ranam Kurtva" by the famous Indian writer, Shibram Chakraborti.
      In this story, the desperate Chipram asks an old school friend, Harsha, to lend him 500 rupees ($ 7) on Wednesday with a promise to pay the deposit the following Saturday.
      But Chibram is wasting money, so when he comes on Saturday, he has no choice but to ask another school friend, Jopar, for a loan of 500 rupees, to pay it back next Wednesday.
      Chipram uses the money to pay off his debts to Harsha, but when he comes on Wednesday he has no way to pay off Jopar’s debt, so he reminds Harsha that he paid off his debts on time and therefore borrowed from him again.
      This becomes customary as Shibram repeatedly borrows from a friend to pay off his debts to the other, and Shibram then clashes with Harsha and Jobar one day.
      After a moment of anxiety, Chipram proposes an idea that every Wednesday Harsha should give “Jopar” 500 rupees, and every Saturday the latter must give the same amount to the first.
      Shepram assures his former friends at school that this will save him a lot of time and change nothing for them, and he will disappear in the crowds of the city "Kolkata" in India.
      The UK and India are a model of the crisis
      So who are the potential "Harsha" and "Jobar" in today's debt spree? According to the World Bank, they could be any country with domestic vulnerabilities, a large fiscal balance sheet, and a heavily indebted population.
      There are many countries that fit this description and run the risk of becoming the channel that carries the fourth debt wave of the global economy.
      Among the advanced economies, the UK is a clear candidate, and in 2019 Britain barely avoided recession, recording the weakest pace of growth in any period not seen since the 1945 recession.
      Britain's conservatives have also promised big increases in commercial investment, and this is unlikely, but instead it will be a debt wave.
      Among emerging economies, India is particularly vulnerable, as in the 1980s the Indian economy was somewhat protected, and consequently the debt wave had little impact at that time.
      At the time of the East Asia crisis in 1997, India had just begun to open up and thus experienced some slowdown in growth.
      By the time of the debt wave in 2008, the country had become globally integrated and severely affected, but its economy was strong and growing at almost 10 percent annually, and recovered within a year.
      But India’s economy today faces one of the deepest crises of the past 30 years, with growth slowing sharply and unemployment at the highest level in 45 years, almost no export growth over the past six years, and per capita consumption in the agricultural sector over the past five years.
      Add to this a highly polarized political environment, and therefore it is no wonder that investor confidence is rapidly declining.
      It is not too late for countries to build "walls" to protect against the debt tsunami, while while India's political problems will take time to resolve, the new budget may be an opportunity to take precautionary action.
      The fiscal deficit must be controlled in the medium term, but the government will be prudent in adopting an expansionary fiscal policy now, with funds directed to support infrastructure and investment, and if managed properly, could boost demand without increasing inflationary pressures and strengthening the economy in order to cope with the debt wave.
      https://www.mubasher.info/news/3586473/تحليل-العالم-يقترب-من-الموجة-الرابعة-للديون/
    • By yota691
      Deep differences stand in the way of approving the draft budget 2018   House of Representatives "Internet" Economy News Baghdad:
       
      Large differences within the political blocs on the draft budget bill 2018, which will affect the economic policy of the government during the current year, according to specialists, expecting not to pass the budget in the coming days because of the intensity of the dispute between the decision-makers in the House of Representatives.
       
      The Ministry of Finance instructed all ministries during the past month to cover their needs through the use of the approved exchange mechanism, which is 112 to face the non-adoption of the draft budget for 2018.
       
      The parliamentary economic committee said that the non-adoption of the budget caused by the delay of the Council of Ministers to send a draft budget law and synchronized with the beginning of the legislative holiday.
       
      The committee member, Najeeb Najib, said in a statement to "Economy News" that the reason for delaying the Council of Ministers to send the budget law to the House of Representatives, is the high oil prices have estimated the price of a barrel of $ 43 and now sold at $ 58, which prompted the government to reduce the deficit to 13 Trillion dinars after it was 23 trillion dinars.
       
      Najib expressed her displeasure at the adoption of 12.6 percent of the province of the budget of 2018, saying at the same time that it was in accordance with the formula of "overwhelming".
       
      She added that 12.6 percent is not enough to pay salaries in general, because the region needs 889 billion dinars a month to pay, while the ratio will provide 450 billion dinars only.
       
      And on the losses resulting from the delayed adoption of the budget, the member of the Economic Committee, the losses are not large because the origin of investment expenditures set up for the establishment of service projects do not constitute more than 25% of the budget, most of which loans and some of them ratified in 2017.
       
      Noting that the sovereign expenditure took a large part of the budget of 2018 to reach 45%, as well as the availability of degrees of employment but not able to cope with unemployment.
       
      On the other hand, the Dean of the Faculty of Management and Economics, Mitham Laibi, in a statement to "Economy News" that "losses caused by delaying the adoption of the budget, will be based on the salary and salaries, because it is the first component of the budget, which weakens the investment side.
       
      He added that the delay caused by the president of the conflict between the political blocs for the purposes of electoral propaganda and try each of them to review "political muscles."
       
      "All political arguments have nothing to do with any economic fundamentals aimed at developing the Iraqi economy," he said.
       
      The federal budget estimated at 108 trillion dinars, with a deficit of 13 trillion dinars, and saw the reduction of the share of the Kurdistan region from 17% to 12.67%.
       
      "The first loser of the postponement of the budget is the Iraqi people, and the postponement of their ratification is a delay for the investment side and a semi-disruption of the operational side," said the head of the Iraqi Economists Association, Abdul Hussein al-Yasiri.
       
      He explained that it is not losses by the delay is the management of the investment side and that the budget is a law on the basis of time limits, every day delay this law is lost investment opportunity on the Iraqi economy.
       
      While more than 4 million people are employed by the private sector, many of whom depend on the budget for their work.
       
       
       
       
      Views 217   Date Added 06/01/2018
    • By yota691
      Saleh calls on the World Bank to suppor t development projects in Iraq
        Thursday, November 29,              
        Alsumaria News / Baghdad called on the President of the Republic , Barham Salih, Thursday, World Bank for the Middle East and North Africa, to support social and economic development projects in Iraq, stressing the importance of achieving financial, monetary and economic stability in the country. 

      The President of the Republic, in a statement received by Alsumaria News, a copy of it, said that "President Barham Salih received at the Peace Palace in Baghdad this afternoon, World Bank Vice President for the Middle East and North Africa Farid Belhadj, accompanied by Regional Director of the World Bank for Central Asia Saroj Kumar Jha" .

      He pointed out the importance of the World Bank's support for social and economic development projects in Iraq, as well as appropriate reforms, combating corruption, the necessity of developing and diversifying the sources of the national economy and ensuring the requirements of reconstruction. 

      "The achievement of financial, monetary and economic stability in Iraq is not only a goal but also a basis for political stability and an important strategic project for sustainable development and civil development in the country," Barham Saleh said. 

      For his part, the World Bank Vice President for the Middle East and North Africa said that "the World Bank is determined to support the Iraqi economy positively and work to support partnership with Iraqi financial institutions by increasing areas of cooperation and the adoption of better investment resources and energies."
    • By yota691
      Thursday, May 19, 2016, Posted at: 13:08(GMT+7)   PM calls for effective use of WB loans Relevant agencies must get well prepared for receiving the remainder of the World Bank's International Development Association (IDA-17) fund allocated for Vietnam in the 2014-2017 period, according to Prime Minister Nguyen Xuan Phuc.
         
      The Prime Minister also urged all bodies to devise measures to ensure the effective use of official development assistance (ODA) and other preferential loans.
      The two IDA-funded projects on strengthening the management of land and building a land database, and improving teachers’ effectiveness will remain unchanged in terms of scale, according to hime conclusion.
      The Government leader assigned the Ministry of Planning and Investment to be in charge and work with the Ministries of Natural Resources and Environment, and Education and Training, to submit the projects for approval.
      Relevant agencies are to complete necessary documents before May 20 to receive WB-funded projects in the fiscal year of 2016 in line with the Government’s Decree No.38/ND-CP dated April 23, 2013 on management and use of ODA and preferential loans.
      The PM gave the green light to the State Bank of Vietnam to technically negotiate with the World Bank on IDA projects in the 2016 fiscal year.
      He requested the Ministry of Planning and Investment to review the list of projects to be disbursed in the next fiscal year to ensure effective use of the loans.
      The Ministry of Finance will cooperate with the Ministry of Planning and Investment in making reports to the Government on the safe limits of ODA and preferential loans, which does not affect the public debt ceiling.
      Source:Vietnamplus
  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.