Member of Parliamentary Finance Committee Haneen Qaddou announced on Monday that Finance Minister Ali Allawi has started negotiations with the International Monetary Fund to borrow $ 5 billion.
Qadoo said, “The issue of internal and external borrowing will be presented to Parliament on certain conditions,” noting that “the committee will present a paper of economic reforms to the government that includes not relying on single rents.”
He stressed “the need for an internal loan amounting to 15 trillion dinars in order to cover salaries and operating expenses,” noting that “the Minister of Finance began negotiating with the International Monetary Fund to borrow $ 5 billion, and it is hoped that it will be allocated for the benefit of investment.”
He called “the government to control customs and border crossings, focus its program on the private sector, diversify financial resources to reach safety and not need to borrow.”
The Minister of Finance had announced positive discussions between the Financial Reform Emergency Cell and the International Monetary Fund.
Allawi said that “the IMF has expressed its willingness to provide support to Iraq and the Iraqi team will follow up with the fund discussions next week.”