Baghdad – IA – Nassar Al-Hajj
At this time, Thursday, the Advisor to the Prime Minister for Monetary Affairs, Mazhar Muhammad Salih, outlined the loans supplied by the Worldwide Financial Fund to Iraq since 2003, and whereas he indicated that their whole didn’t exceed $8 billion, he confirmed that that they had been paid in full.
Saleh instructed the (INA): “Since 2003, the Worldwide Financial Fund has supplied a number of loans to Iraq that had been geared toward supporting macroeconomic stability and implementing monetary reforms. Between the years 2003 and 2021, Iraq obtained a number of financing packages from the Worldwide Financial Fund, together with This contains emergency loans and comparatively long-term monetary help.”
He added, “Within the first years after 2003, the Fund supplied important assist to Iraq via varied packages, together with the Credit score Preparedness Program.” SBA And the speedy financing instrument. For instance, in 2016, the Worldwide Financial Fund accredited a credit score preparedness programme SBA With a worth of $5.34 billion to assist financial reforms in Iraq, Iraq acquired two-thirds of the above quantity, and it was paid in full inside 5 years.
Saleh continued, “In 2021, Iraq requested an emergency mortgage value $6 billion from the Worldwide Financial Fund, and it seems that the mortgage was not materialized as a result of it was not linked to one of many Fund’s packages on the time,” noting that “strategies of cooperation with the Worldwide Financial Fund have been focused to assist authorities reforms.” And confronting the financial crises that resulted from the decline in oil costs, which had been linked to fluctuations within the stability of funds and its results on financial exercise.”
The Prime Minister’s Advisor for Monetary Affairs acknowledged, “Since 2003, the worth of the loans and monetary help granted by the Worldwide Financial Fund to Iraq has amounted to a number of billion {dollars}, and their whole doesn’t exceed 7 to eight billion {dollars}, and so they have been repaid in full, with a spotlight when granting loans on implementing packages associated to “By supporting macroeconomic stability and implementing the mandatory monetary reforms.”