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Tishwash: International Monetary Fund: Iraq has witnessed progress in recent years to disclose budget and fiscal information

The International Monetary Fund announced that Iraq has witnessed progress in recent years to make room for access to budget and fiscal information.

The Director of the Middle East and Central Asia Department at the International Monetary Fund, Jihad Azour, said in an article published by Al-Sharq Al-Awsat newspaper and seen by Al-Eqtisad News that governance and anti-corruption reforms are necessary to rebuild better after the crisis and to stimulate a strong and sustainable recovery .

He stressed the importance of improving governance and reducing corruption in order to promote growth; These factors lead to better economic results and sustainable macroeconomic stability by making the use of public resources and providing government services more effective, and also by enhancing investor confidence and competitiveness.

Azour noted that effective government and tax institutions can enhance social cohesion and ensure that the returns to growth will be better and more participatory distributed among all components of society .

He emphasized that the Kingdom of Saudi Arabia, Egypt and Iraq have made progress in recent years in providing more room for access to budget and fiscal information, while Tunisia provided a good example on how to involve citizens in the budget preparation process by enabling them to provide feedback on how to use public opinions during Legislative sessions   link

Tishwash:  Economist: High oil prices forced the government to backtrack on its decisions regarding the dollar

Economic expert Ihssan Al-Kinani stressed the need to lift the blockade imposed on the Iraqi people because of the government’s measures to raise the exchange rate of the dollar against the dinar, pointing out that oil prices have returned to recovery and have achieved positive returns for the government, which is what makes it imperative for the government to reduce the exchange rate.

“The poverty rate in Iraq has risen to more than 40 percent, a number that raises suspicion, as this leads to an increase in the rate of crime, theft, terrorism and other acts that push the weak in search of any way to obtain money,” Al-Kinani said to “the information “.

He added that “the government bears responsibility for its decisions about reducing the value of the dinar against the dollar, and increasing the poverty rate and its consequences for the Iraqi people, as the coming years will witness an increase in this percentage and Iraq may not be able to overcome its financial crisis.”

And that “the government has made great profits in light of the rise in oil prices to more than $ 52 a barrel, whose value in dinars increased by 23 percent from last year, which calls on the government to lift the blockade it imposed on the people and restore the exchange rate to less than it is today.  link