The IMF and the World Bank plan to lend Iraq $ 3 billion
11/15/2017


The governor of the Central Bank Ali al-Alaq, on Wednesday, the intention of the International Monetary Fund and the World Bank to launch a new batch of loans up to three billion dollars, while pointed out that the coming period will see the merger of some commercial banks with each other.

Al-Aalak said in statements published by the official newspaper "Sabah" that "the IMF aims to be deficit in the federal budget for Iraq for the year 2018 does not exceed 15 trillion dinars, and this is what we seek and I think we implicated this figure in the budget, as the price of a barrel of oil up to 43 dollars and the same Export volumes in the 2017 budget ".

He added that "the International Monetary Fund after the completion of the budget and some other simple requirements will provide the beginning of next December to the Board of Directors meeting recommendations, and if the report is positive and consistent with the program will be launched other payments and start the payment before the end of this year and the amount of 150 million dollars from the IMF And about one billion dollars from the World Bank and other amounts from the seven industrialized countries to reach the combined amounts to nearly 3 billion by the end of this year.

As for the commercial banks, Alaq pointed out that "the number of large and the future will see the integration of these banks, as happened in all countries of the world, starting with a large number and then ends with a specific number, but they are large banks, stressing that" the Central can not push and force banks to integrate but in practice and practical experience Will in the future adopt a merger and reduce the number. "

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