Daytrader: A number of members have expressed concern over a statement regarding an IMF Article IV consultation not occurring until later this year. This is Iraq’s normal Article IV consultation schedule. Most countries have an Article IV consultation with the IMF every 24 months, including the United States.
It provides an opportunity for both the IMF and the country to discuss specifically where the country might have monetary policy or procedural shortcomings that need correction, and review what they’re doing that meets Article IV criteria.
All that happens as the result of the consultation is agreement on a plan of action to make any necessary corrections. There is no failure, only a plan of action to rectify concerns.
Iraq and the IMF have been planning the reinstatement of the IQD for a very long time, and during this time they continued to develop and fine-tune the process specific to Iraq’s needs. IMO this has nothing to do with nor will it have any impact on what we seek.
Don961: File of frozen funds
Tuesday 15 January 2019
Mohamed Sherif Abu Maysam
The file of Iraqi funds frozen in Jordan since the time of the former regime is one of the most mysterious files among the financial files that have been settled with many international bodies during the past fifteen years. The volume of these funds has not been disclosed, especially in Jordan, Accounts belonging to the Iraqi state institutions at the time or bears the names of persons close to the former regime and members of his family, or accounts placed with money smuggled to the spoilers tried to escape from the country in the years after the year 2003.
Because of the lack of demand by Iraqi governments for those funds during the past years, the Jordanian media were talking about different figures and procedures related to the withdrawal of some of them in favor of Jordanian parties on the grounds of the issuance of Jordanian judicial decisions of one party or that, as confirms the decision of the Finance Committee in the Iraqi parliament Hoshyar Abdullah, In a statement to the newspaper “New Arab” Gulf.
“Available data indicate that Iraq has between 3 and 5 billion dollars deposited in Jordan since the time of the previous regime, there is no real Jordanian disclosure by this Show.
After the visit of Jordanian Prime Minister Omar al-Razaz to Baghdad on the 28th of last month, during which he met with Iraqi President Barham Salih and Prime Minister Adel Abdul-Mahdi, the two countries agreed to form a financial finance committee to develop solutions to the outstanding financial files between them, Economic sectors, including oil, transport, agriculture, industry, telecommunications and information technology.
Therefore, the Iraqi side is required to be more serious in this regard to deal with this file within the legal framework that guarantees the rights of the Iraqi people in all transparency and clarity, while linking the file of frozen funds with other economic files related to them. Based on mutual respect for each other’s interestsThe parties.
On this basis, the second of next February, which was set to be the date for the start of the implementation of several economic decisions, relating to the customs facilities on Jordanian goods and the extension of the Iraqi oil pipeline to the port of Aqaba, and to provide Jordan with its needs of crude oil at a subsidized price should not exclude the money file Frozen. link