Thread: Iraq/Dinar News to April 19, 2007 10PM CST

Chaired by Mr. Zubaidi Baqir Jabr, the Minister of Finance
(Voice of Iraq) - 16 - 04-2007

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The Ministry of Finance
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بغـــــــــــــــــد اد
16/4/2007

Chaired by Mr. Zubaidi Baqir Jabr and Minister of Finance Iraqi delegation to attend a meeting of Governors of the World Bank held in Washington 0

The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve rates of implementation of the budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the companies Iraqi and foreign entry in the field or processing of contracts as well as the lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the 2006 budget for the month of July of that same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise

The lack of middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate the implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and balancing Act 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation have been held by the Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects have surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 0


At the end of his speech, the Minister of Finance that the current year will be much better than the previous year's rate of implementation of the budget 0-1

The Finance Minister, Mr. extinguishing debt on the theme that there are Iraqi good signs from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 80% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of the war with Iran, which Saddam DISCORD point, a very important point for us and the Iraqi Allmwatuna 0

And Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor says that the International Monetary Fund that the exemption of Iraq debt issue interest Fund and encourage and help Iraq and the IMF to complete their programs in Iraq 0

Mr. Khan and Chief of Staff of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation and economic implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will need to Iraq the Convention on the (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention and the first implementation of the Convention Iraq each state 0

The IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program 0

He promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting, where support Iraq's economic confident steps despite all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that 0

The meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fund 0