Al-Atwani calls on the IMF and the World Bank to provide the necessary support to Iraq

[6ly410]

Al-Atwani calls on the IMF and the World Bank to provide the necessary support to Iraq

Dialogue.m57 seconds ago

 One minute

Al-Atwani calls on the IMF and the World Bank to provide the necessary support to Iraq – Al-Oula News Agency (awla.news)Twitter Share via mail

The Chairman of the Finance Committee, MP Atwan Al-Atwani, called on the IMF and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.

The media office of the Chairman of the Finance Committee said in a statement received by (First News), that "the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated on Monday evening, via a closed circuit television, in the deliberative meeting of the International Monetary Fund on the financial and economic situation in Iraq."

He added that "Al-Atwani gave a full briefing on the financial and economic situation and the items and programs included in the three-year budget law (2023-2025) that are consistent with the government program to promote various sectors, activate the private sector, encourage investment and support investors, in order to achieve sustainable development."

Al-Atwani stressed, according to the statement, that "the approval of the tripartite budget gave the government great comfort in terms of contracting, implementing projects and attracting foreign companies to implement major projects," pointing out that "the Finance Committee, through monitoring spending, financing and implementing plans and programs, seeks integration between the legislative and executive authorities, because we want this government to succeed, especially as it is moving steadily towards achieving the aspirations of the people."

Al-Atwani pointed out that "the national service government is serious in moving the wheel of the economy and development and has ambitious programs to promote various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in the formation of the public budget.

Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that achieve financial revenues for the state.

[rvmydinar]

14 hours ago, 6ly410 said:

Al-Atwani calls on the IMF and the World Bank to provide the necessary support system" rel="">support to Iraq

Why do Iraq need a loan from IMF and the world bank? Isn't oil worth billions of dollars the highest source of income for Iraq? Then where is this oil money going through? Corrupt's pockets?

[screwball]

Interesting both institutions controlled by USA…

[BETTYBOOP]

Support!?!? How much more support do these clowns need???

[md11fr8dawg]

1 hour ago, BETTYBOOP said:

Support!?!? How much more support system" rel="">support do these clowns need???

As much as anyone will blindly give them without strings attached!! This thing should have been over long ago but for the unbridled corruption from our & their Gov!!

[keylime]

On 2/27/2024 at 9:01 AM, rvmydinar said:

Why do Iraq need a loan from IMF and the world bank? Isn't oil worth billions of dollars the highest source of income for Iraq? Then where is this oil money going through? Corrupt's pockets?

That's how the rich and their world play. Their billions are just to get bigger loans at the least rate of interest.  Why use your money when you can use other people's money at little cost.

[rvmydinar]

11 minutes ago, keylime said:

Why use your money when you can use other people's money at little cost.

Good point. Then, how are they going to pay that huge debts back to IMF and the World Bank? By RV'ing the Iraq dinar and letting the Governor of the CBI determine the rate change?

[BETTYBOOP]

1 hour ago, rvmydinar said:

Good point. Then, how are they going to pay that huge debts back to IMF and the World Bank? By RV'ing the Iraq dinar and letting the Governor of the CBI determine the rate change?

 Nope..... they won't need to do that.. The agreement could be for the next 50 to 100 years. Each new government inherits the debt just as happens in the West. When do western government change the rate of their currency to pay debt they don't. They increase taxes. Iraq is already making billions in oil. If that money or at least some of it lies in the banks it  makes them more money . IF for example they have to pay 2 billion in loans every quarter and they are making 250 billion a quarter  where is it costing them money. Theoretically it isn't. It will cost the citizens cause they will increase tax to get the money to pay the loans but at the same time reduce or slow down development or services provided to the citizens , all while claiming they have too much national debt. Realistically, iraq don't ever need to rv. They can trundle along just as they are for as long as they wish. I don't believe any country or 3 letter agency on the planet can force them to rv. 

[coorslite21]

Reported by Chella Smith

International Monetary System

 

The international monetary system indicates a decrease in inflation rates and the stability of the foreign exchange market in Iraq. Iraq's Ministry of Finance has reported a significant decline in inflation rates, resulting in lower food and energy prices. The IMF has pledged to support development programs in areas such as public financial management, digital transformation, banking, retirement, and customs sectors.   The IMF mission also praised the strong growth in the non-oil sector during 2023, a decline in inflation rates, and the stability of the foreign exchange market. The IMF's Article IV consultations are bilateral meetings held annually between the IMF and member states.   CL

 

[edbeach]

This is another great article that should help in granting admission to WTO

[horsesoldier]

20+ years of Iraq dragging themselves through the weeds and into the 21st century.

Oh the pain of it all to endure such a PAIN in the backside 😄