The IMF Will Provide 14 Billion U.S Dollars After Signing Agreement

The IMF Will Provide 14 Billion U.S Dollars After Signing AgreementA spokesman from the Information Office of the Iraqi Prime Minister, Saad Al-Hadithi issued a statement that the Iraqi government has submitted details to the International Monetary Fund to show a clear vision of Iraqi government regarding the process of administrative and economic reform programs. It would describe a clear vision of Iraqi government to overcome the critical economic problems and expected results after the implementation of reforms in Iraqi administrative and financial system. He further added that recent agreement between Iraq and the International Monetary Fund would provide at least 14 billion U.S dollars to Iraq. He denied the rumors about excluding the amount of employee’s salaries after signing the agreements with the IMF.

He also pointed out that taxes will be imposed on higher grades and special grades, and the staff will be divided in two categories. He further added that this financial support would allow us to overcome current financial crisis. He continued that Iraq will receive 5.4 billion U.S dollars from the International Monetary Fund over the next three years at a fixed interest rate of 1.5 percent. He said that the IMF has planned to provide 2 billion U.S dollars in installments till the end of 2016. He added that recent agreement will participate to improve the financial condition in the country. The financial support will be provided by various regional and international financial organizations. He said that Iraq will get at least 3 million U.S dollars from the IMF and other donor countries will provide assistance for the development and reconstruction in the country.

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