Iraq needs another 28 billion dollars to secure employee salaries

[yota691]

Iraq needs another 28 billion dollars to secure employee salaries

 

 

 7/20/2020 13:38:03

 

Shafak News / A member of the Parliamentary Finance Committee said, on Thursday, that Iraq still needs $ 28 billion to secure employee salaries until the end of the current year 2020.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices due to the Corona pandemic, which has paralyzed large sectors of the world economy. The country relies on revenue from the sale of crude to finance 95 percent of the country's expenditures.

The salaries of government employees in Iraq were delayed by about ten days after their usual launch date

"The central bank has secured the salaries of employees for three months, which are June, July, and August, according to the local and foreign borrowing law," committee member Jamal Cougar told Shafaq News.

He pointed out that the monthly salaries of employees are estimated at $ 5.5 billion.

Cougar added, "The government needs $ 28 billion to secure employee salaries from June to the end of 2020."

And that "the money is divided into 18 billion dollars from domestic and external borrowing, and the rest of oil revenues."

[King Bean]

What a ship of fools. Poor PM Kazami. The Maliki and his family of crooks stole the country finances blind, then they hand him a shiz bucket to deal with. I expect, in usual Iraq fashion, they will wait until the end of August to throw their hands in the air and beg debt forgiveness and all the time an outstretched hand begging for more 'loans' which they cannot pay. Could we even hope that they are pro-active and make a currency move well in advance of September 1st???  I still contend the new Iraq flag should reflect the GOI mindset. 

 

                                                

[Rugbylaird19]

If I needed a thousand dollars to cover my bills and all I had in my pocket were ten one dollar bills BUT, I had the power to make those dollar notes worth a hundred dollars each, I would!!! Of course I don't have that ability but Iraq does. This is what I find so frustrating. What are they waiting for??? The situation will never be perfect. Done venting...

[SocalDinar]

11 minutes ago, Rugbylaird19 said:

If I needed a thousand dollars to cover my bills and all I had in my pocket were ten one dollar bills BUT, I had the power to make those dollar notes worth a hundred dollars each, I would!!! Of course I don't have that ability but Iraq does. This is what I find so frustrating. What are they waiting for??? The situation will never be perfect. Done venting...

Gotta look at the money supply to make a guess at what they have the ability to do. Been a while since i've seen that . Any idea what the M-1 is these days? 

[horsesoldier]

😂    😂