Baghdad Iraq returns again to external borrowing, to satisfy its empty treasury, due to the consequences of the pandemic of our curse and the drop in oil prices, which negatively affected the revenues of the country whose budget depends on 92% of the revenues, according to specialists.
And the Parliamentary Finance Committee announced today, Monday, that the Minister of Finance started negotiations with the International Monetary Fund to borrow $ 5 billion.
Committee member Hanin Qaddo told the official agency that "the issue of internal and external borrowing will be presented to Parliament on certain conditions," noting that "the committee will present a paper of economic reforms to the government that includes not relying on one-rent."
“The need for an internal loan amounting to 15 trillion dinars in order to cover salaries and operating expenses,” Al-Kiddo said, noting that “the Minister of Finance began negotiating with the International Monetary Fund to borrow $ 5 billion, and it is hoped that it will be allocated for the benefit of investment.”
The economist, Nabil Al-Marsoumi, said that the only solution to tackle the financial crisis in Iraq is internal, not external borrowing, which is a system in place in most of the countries of the world.
And the decree stated in an explanatory post that was shared with “Yas Iraq” that “some tremble with borrowing even though all annual budgets for Iraq since 2004 and even in explosive budgets, when the price of oil was more than $ 100 a barrel was dependent on internal and external borrowing to cover part of the deficit Budget. ”
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