KTFA:
Clare: International Monetary is optimistic about the Iraqi economy: it is witnessing an improvement
3/29/2023
The Regional Director of the International Monetary Fund expressed, on Wednesday, his optimism about the improvement of the Iraqi economy, stressing at the same time his support for the government’s “reform” programmes.
The Iraqi Ministry of Finance said, in a statement received by Shafaq News Agency, that its Minister, Taif Sami Muhammad, received today the Regional Director of the International Monetary Fund in Iraq, Ghazi Shbeikat, indicating that the meeting discussed a number of files related to the framework of joint cooperation between the two sides, most notably providing technical advice. necessary by the Fund to enhance financial reform plans, in addition to involving international experts in the process of developing the performance of the banking sector and improving accounting systems and budget work.
And the Minister of Finance stressed, according to the statement, that Iraq is looking forward to more cooperation with the IMF, in support of the government’s reform programs that it is implementing in the sectors of finance, economy, investment and sustainable development projects.
For his part, Shbeikat expressed, according to the statement, his optimism that the Iraqi economy will witness an improvement in annual growth rates, and that this improvement will be reflected in supporting the rest of the development sectors. LINK
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Clare: The President of the Republic: The need to expedite the approval of the oil, gas and wealth law as the property of the people and future generations
The President of the Republic, Abdul Latif Jamal Rashid, stressed the need to expedite the approval of the draft oil and gas law.
A presidential statement, of which the Euphrates News Agency received a copy, stated that Rashid “received today, Tuesday, in Baghdad, the head of the Parliamentary Oil, Gas and Natural Resources Committee, Representative Hibat al-Halbousi, the first and second deputy heads of the committee, and a number of committee members.”
President Rashid stressed, during the meeting, the need to expedite the approval of the oil and gas law in a way that guarantees the Iraqis to enjoy their national wealth with justice and equality, and that it belongs to the people and future generations, indicating that the approval of the law is important in resolving outstanding issues between the federal government and the Kurdistan Regional Government.
He touched on the need to support the oil industry, especially with regard to investment projects in the sectors of gas, oil exploration and refining industries, and to address the obstacles it encounters, stressing that it has priorities in the government program.
The President of the Republic stressed the need for good planning and management and following modern methods in implementing projects aimed at increasing and improving the level of oil production in the country, and working to find appropriate mechanisms to benefit from the gas wealth in the country and not waste it, and reduce dependence on imported oil derivatives.
The President of the Republic spoke about his participation in the United Nations Water Conference held in New York, and the realistic picture put forward by the Iraqi delegation about the dangers facing the country as a result of water scarcity, which has begun to affect the lives and livelihoods of citizens in general.
He also stressed the importance of taking urgent measures to confront the water crisis and reduce the severity of these risks by finding innovative and sustainable relief solutions at the local, regional and international levels, stressing that His Excellency had sensed, during his meetings with a number of leaders of the participating countries, solidarity and support for Iraq in the face of water scarcity and climate changes represented by desertification. And the drought that bears its burdens greatly.
In turn, the Chairman of the Parliamentary Oil, Gas and Natural Resources Committee affirmed the committee’s interest in President Rashid’s directives, and work to invest the country’s natural resources in the best way and in a manner that achieves progress and well-being for our country and our people, calling on His Excellency to adopt the water file in order to find solutions to reduce its effects.
Al-Halbousi indicated that the committee has been working towards approving the oil and gas law that has been stalled in parliament for years, pointing out that there is a desire among most blocs to legislate this law in a way that reflects positively on strengthening and developing the reality of the oil sector in Iraq. LINK
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