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Tishwash:  THE IMF: THE POLITICAL TENSIONS IN IRAQ HINDER REFORM EFFORTS

Baghdad-Al-Sharqiya, February 15: The International Monetary Fund warned that reform efforts in Iraq were stalled due to the political turmoil and tensions that precede the parliamentary elections and the resulting instability.

The National website quoted the International Monetary Fund as saying that the slowdown in GDP reflects a decrease in non-oil activity and a reduction in crude oil production due to the OPEC Plus agreement.

The IMF indicated that the large fiscal deficit of 20 percent of GDP, and the deficit in the external current account, which reached 16 percent of GDP, restricted the government’s ability to offer an effective financial treatment.

The International Monetary Fund stressed the importance of combating corruption in public institutions and restructuring large government banks in order to enhance financial stability and develop the private sector. link

Tishwash:  Representative economy: the difference in the rise in the exchange rate of the dollar against the dinar will be used to bridge the financial gap

Member of the Parliamentary Economic and Investment Committee, Hamed Al-Mousawi, confirmed that the difference in the exchange rate of the dollar against the dinar will be used to bridge the financial gap, pointing out that the state is going towards supporting the private sector to attract the largest number of unemployed and graduates.

Al-Mousawi said to “the information”, that “the difference in the exchange rate of the dollar after the government’s decision to reduce the value of the dinar against the dollar has reached 12 trillion dinars, as this amount will be invested to fill the budget deficit.”

He added that “the high exchange rate of the dollar against the dinar will not be used to increase expenditures as desired by the government, but rather will be invested to bridge the financial gap.”
And that “the government is going toward supporting the private sector in order to attract the largest possible number of unemployed and graduates, in light of the deficit suffered by the budget and salaries that amounted to 53 trillion dinars.”  link