Iraq Has Lost More Than $ 18 Billion: Zebari

Iraqi Dinar 123 News: – The Iraqi Finance Minister Hoshyar Zebari issued a statement that Iraq has lost at least 18 billion dollars due to mishandling from the development fund in 2013. Zebari further said in his statement that Iraq has already spent a huge amount to handle the security situation and in the war against terrorism, which moved Iraq to take some extra amount of strict measures. The downfall in the global oil prices and threats by the terrorist groups made intensified to Iraq. But, in the current year 2015, the situation may be more difficult because the Ministry should provide complete details of national expenditures on monthly basis.

Zebari further said that Iraq should need a meaningful structure for its economy and to transform its sources which provide a comprehensive financial output. The recent Iraqi crisis shows an opportunity to take a deep search on its reality for a better future of national economy. He stressed that the Iraqi government is planning to meet with the International Monetary Fund (IMF) to get a grant of 2 billion dollars to manage the cost for agriculture and electricity projects. The Iraqi government has taken a grant by the Iraqi Central Bank but it can reflect a negative impact on the Iraqi dinar value. The Iraqi government is now planning to get foreign grants.

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