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Shybaby: International Monetary Fund reveals loan terms, confirms support for white paper and exchange rate change

Baghdad- Nassar al-Hajj,

The International Monetary Fund (IMF) has revealed the terms of its loan grant, while commenting on the white paper, welcoming its medium-term reform plans and changing the exchange rate.

“Iraq has been a member of the International Monetary Fund (IMF) since 1945, and like the IMF and other members, iraq is conducting an annual performance control process under Article IV of the IMF’s founding agreement, which includes a general diagnosis of the state of the Iraqi economy,” said Ghazi al-Shabekaat, head of the INTERNATIONAL Monetary Fund(IMF) regional office, in an interview with the Iraqi News Agency (INA).

“Iraq also benefits from the fund’s technical assistance and financial support when it needs them,” he said, adding that there is currently no arrangement or financial agreement with Iraq. “The amount of loans granted to Iraq until the beginning of this year amounted to one billion and 180 million dollars,” the imf said, adding that “the fund has provided financial support to Iraq, dedicated to supporting the economic program on various occasions.”

“The Article IV talks, held recently, were a good opportunity to consult with the Iraqi authorities during these difficult and challenging circumstances,” the IMF said.

The imf expressed its support for lowering the exchange rate of the Iraqi dinar against the dollar, stressing “the critical importance of having a strong framework for the state’s public finances to ensure its credibility and to meet the need to protect the vulnerable.”



Tishwash:  Representative economic: the conditions are ready to adjust the exchange rate and the oil barrel in the budget

A member of the Parliamentary Economic and Investment Committee, Mazen Al-Faily, confirmed today, Friday, that the conditions are ready to adjust the exchange rate of the dollar against the Iraqi dinar, as well as the price of a . barrel of oil in the draft Federal Budget Law for 2021

In an interview with (Baghdad Today), Al-Faily said, “The conditions are in place to restore or reduce the exchange rate of the dollar against the Iraqi dinar in the draft budget, but it is difficult to achieve this in light of the completion of the draft formulation, discussion and study in the Parliamentary Finance Committee, therefore we need to ” .reformulate The project and this is not possible

He added that “there is a tendency to raise the price of a barrel of oil in the draft budget law, in view of the high prices in the global markets,” stressing that “the current price contributed to the availability of large financial revenues “.for the state   link

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