The World Bank: Iraq is experiencing its worst crisis since 2003 .. We put a large financial portfolio for it – urgent
The Resident Representative of the World Bank in Iraq, Ramzi Numan, confirmed that the bank supports the Iraqi government in several directions to get out of the current economic crisis, and that there is great support for the white reform paper adopted by the government in order to get out of the crisis, and while he called for comprehensive reform in the Iraqi banking sector He stressed that the Iraqi society is a “youth society” that can revive the country if its energies are properly and seriously invested.
In his interview with the semi-official Al-Sabah newspaper, Numan said, “It must be pointed out first, that the experience and history of the World Bank to work with the government and people of Iraq extends for a long history full of projects that have been jointly worked on. However, the current bank is currently working closely. Closer to the Iraqi government to face the emerging and accumulating crises that are added to the existing problems in Iraq, and the consequent decline in oil prices, protests, the Corona pandemic and its health, economic and social consequences that have formed a great burden on the country.
He continued, “These conditions that Iraq is going through are the worst since the year 2003 on a unilateral economy that depends on oil, and there is a fact that all of this left great burdens that were reflected in the ability of the Iraqi government to deal with emergency needs.”
He explained, “The World Bank has set up a very large financial portfolio file for the projects it implements in Iraq, and this portfolio is directed to several destinations, whether reconstruction projects for areas liberated from” ISIS “gangs or to face the social crises that have arisen from this matter, in addition to some other projects. Which is working on structural reforms in the economy, and we are working hard with the government to approach solutions to emergency crises and keep pace with the reform white paper initiative put forward by Prime Minister Mustafa Al-Kazemi. Source