Estimated $50 billion financial gap in Iraq: Saleh

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The adviser of financial affairs to the Iraqi Prime Minister, Muhammad Saleh issued a statement that Iraq is experiencing a huge financial gap and it is estimated at more than 50 billion U.S dollars.

He added that the recent agreement between Iraqi government and the International Monetary Fund about getting loans in participation with the international financial institutions would provide a great support for Iraq. He pointed out that the International Monetary Fund has introduced the issuance of corporate governance for the first time, so the auditing and transparency would be more perfect. Saleh also said that Iraq is experiencing a massive financial gap and it is estimated at least 50 billion U.S dollars for the next three years. He added that this financial gap is due to continuous projects and maintaining stability in the country.

Muhammad-Saleh

Muhammad Saleh pointed out that development in Iraq is a part of the International Monetary Fund and international financial institutions. They are responsible to maintain the financial stability in the entire world. He added that there is an international cooperation in providing financial support to Iraq. He stressed that the recent agreement of Iraq with International Monetary Fund represents a handsome support by the international community for Iraqi people. It would provide a great support to pull out Iraq from financial distress.

He pointed out that continuous decline in the global oil prices and fight against terrorism, especially against Daash organization increased economic and financial problems for Iraq. A number of Iraqi dinar experts believe that the financial support of IMF would provide financial stability, but it would not be permanent because increase in the U.S dollar exchange rate against Iraqi dinar currency is promoting to Sell Iraqi Dinar. Dinar gurus also predicted that Iraqi dinar investors will not be able to see Iraqi Dinar Revaluation in a couple of months, so avoid to Buy Iraqi Dinar currency and wait for the next move.

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