Economic Committee: Iraq has great balance and no need for international loans

Posted: December 24, 2013 in Iraqi Dinar/Politics
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23-12-2013 10:27 AM

Baghdad (newsletter). The parliamentary Finance Committee, stressed that Iraq is not in need of international financial loans, indicating that loan by the World Bank and the (355) million dollars for Iraqi economic policy link.

The Vice-Chairman of the Committee, said Ahmed Faizullah (News Agency): that Iraq possesses very large financial budget estimated at more than 174 trillion dinars and has enormous oil reserves and possibilities to export large amounts of oil, so it’s not needed international loans for projects in the country.

He said: the aim of the loan by the World Bank and the Fund (355) million was for the purpose of strengthening relations between Iraq and the World Bank, to make Iraq’s economic and financial policy, international policy and not to have Iraq in isolation from the world.

The Bank announced its intention to lend Iraq $ 355 million dollars to establish strategic and infrastructure projects in the country

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