CBI: Monetary policy is supported by the IMF; Denies IMF criticismPosted: November 24, 2010

[OKLAHOMA]

CBI: Monetary policy is supported by the IMF; Denies IMF criticismPosted: November 24, 2010 by Justhopin in Iraqi Dinar/Politics

Tags: CBI, Dinar, Finance Minister, Finance Ministry, Government, Government of Ireland, IMF, International Monetary Fund, Iraq, Iraqi dinar, Monetary policy 0Central: Our policy is supported by the IMF .. And borrowing «positive»

The Government agrees on the proposal of the budget … And Vice-warn of the difficulty discussed without an ad hoc committee

A senior official at the Central Bank, on Wednesday, said denying the International Monetary Fund face “criticism” of the monetary policy of Iraq, likely to be expressed Fund Notes on fiscal policy and the financial performance of the government.

This comes at a time is still the fate of the “budget” swing between the government and the House of Representatives, With the government announced approval of the budget proposal submitted by the Ministry of Finance, likely parliamentarians to postpone discussion within the House of Representatives pending so they can be the formation of a finance committee, some spoke about the possibility of approval without discussion .

The government adviser said the weekend that “the IMF mission, which now is extensive discussions with the Iraqi delegation, which includes the Iraqi Central Bank and the Finance Ministry is not convinced of monetary policy in the country, and requested extensive changes at the level of the monetary system.”

The adviser to the CBI the appearance of Mohammed Salih, in an interview with “The World” on Wednesday, said “The position of the International Monetary Fund more positions and clearer about the monetary policy of Iraq,” adding that “We have enjoyed our monetary policy has won praise Fund, has told us quote the need to maintain This successful performance. “

The benefit of “We, through our meetings and meetings continued with the International Monetary Fund we have enjoyed the encouragement and support the obvious, because we worked to strengthen the reserves of Iraq cash to $ 50 billion at the present time, as we have succeeded in controlling inflation under the mattress to one decimal place does not exceed 3%” .

He expressed his adviser’s central bank surprised “to talk about criticism of the monetary policy of Iraq,” saying “surprised by such statements, I am a member of the Iraqi team negotiating with the IMF since 8 years, and participated in all negotiations, technical and political, I did not hear about such criticism.”

But he said, “but I do not rule out the possibility that the Fund’s comments on fiscal policy, not cash, because the first of the jurisdiction of the Ministry of Finance, one of the burdens of this difficult and complex, however, do not deny the considerable efforts undertaken by the Ministry in this regard.”

And how realistic these criticisms made by the International Foundation, recognized the appearance of the existence of “numerous observations about the financial policy of the Iraqi government,” adding that “these financial institutions have always demanded a rationalization of government spending and curb inflation, directing it towards supporting private sector investment, in an effort to bring about economic and financial reform, and is therefore not impossible conditions as they are incentives to promote economic growth. “

And on the government’s efforts with the International Fund for a financial loan to support the budget of 2011, said the expert, financial and economic “It is true that we are and the different conditions we suffer from a deficit of executive which is not financial, but the duty of the government of having to diversify its financial resources as a hedge against the surprises, the unexpected, especially since our economy depends almost full of oil revenues. “

The benefit of his speech for “the world” “loans one way to diversify its resources, particularly that the IMF does not grant loans only under the terms of a simplified not to overburden the national economy in the future, because they interest loans does not exceed 1% for a period of five years.” And added, “We need to diversify the revenues of the budget because the contribution of the citizen tax does not exceed 100 thousand a year, but its share of national income, up to 3 million, tax revenues did not exceed 2.7 trillion dinars, while domestic spending more than 90 Trliuna, namely that the tax equal to 3 % of budget revenues. “

The Iraqi Finance Ministry announced last month that the finalization of the draft budget and the budget was the initial about 86 billion and $ 400 million, an increase of up to 14 billion dollars in the last budget, was allocated the bulk of the budget for investment, and to support the Government’s strategy for development that will continue for the next four years .

Iraq’s government announced Tuesday, agreed with the general budget for 2011, with the addition of $ 5 billion of investment projects, and the House of Representatives urged the Prime Minister-designate Nuri al-Maliki last week to speed up sending the draft budget to the Board for the purpose of discussion and approval as scheduled.

In this context, warned the President of the Finance Committee in the House of Representatives the previous Alaa al-Sadoun, yesterday, of the “difficult” to discuss the general budget of the Council without the existence of the specialized financial, likely approval without discussion. She Sadoun’s “Voices of Iraq” that “the budget discussion without the presence of a finance committee was especially difficult and that the Finance Committee earlier had won any of its members, the membership of the new parliament.”

However Sadoun said it had seen a draft budget law for 2011 “and compare it with the law of the previous year, as we do every year and try to elaborate a preliminary report under the hand of the Finance Committee the new hope to discuss things clear mission and an amendment can be amended in it.” She added that “there are several possibilities waiting for the general budget, including delayed discussion until the formation of a finance committee because we are in the previous Parliament did not vote for it and clicked before the end of the month of December (Dec), as well as there is a possibility is that the vote by Parliament without debate is what has happened in the years 2004 and 2005.

Sadoun indicated that there is a third possibility in the absence of adoption of the budget, and is in the disbursement of the amount of money required “each month of the known amount of the budget (total), but will affect negatively on new investment projects and impairs.” In turn, ruled out a coalition Iraqi MP Izz al-Din State to vote on the budget in 2011 in the House of Representatives, without debate, calling on the Council not to spend a long time in discussion. He said the state’s “Voices of Iraq” that “have been identified the work of the Commission modified the rules of procedure for the week starting from yesterday, and this period is sufficient to end the work of this Committee, and then will be voted in parliament on the amendments and we’ll go about forming committees and then we begin to address the files pending, and in the forefront of the financial budget. “

He added that he “is supposed to be this year’s special, because we are too late, so you should not take the budget and time for discussion in parliament,” adding that “will discuss the budget because not to discuss the paragraphs of the budget is disadvantageous to the government because the addition and deletion is only the success of the budget and the government It is the duty of the Council to devote himself to balance until the end of them fully. “

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[cgbrown]

Oklahoma: here you go again, posting information already on the forum. If you will just read a little before you go posting you will see this was posted by Marlyn53 sometime ago.

Yes, it's good information but we don't need to see it multiple times.

[coolbeans]

Oklahoma: here you go again, posting information already on the forum. If you will just read a little before you go posting you will see this was posted by Marlyn53 sometime ago.

Yes, it's good information but we don't need to see it multiple times.

lol, they are the same person aren't they?

[OKLAHOMA]

SORRY ABOUT THAT, I WONT POST ANYMORE THAT WAY IT WONT HAPPEN MULTIPLE TIMES IT DOES GET ANNOYING