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BatmaninIraq
06-29-2016, 09:24 AM
Reading in Iraq an agreement with the International Monetary Fund


6/29/2016

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Mohammed Sharif Abu Mayssam
Well I did when the government made it clear, and in the words of the official spokesman for the Prime Minister, the merits of the loan to be submitted by the International Monetary Fund for Iraq, which was raised around a lot of confusion.
It is important here disengagement of intentionality in the media hype, made ​​by the enemies of all that is wholesome for Iraq in order to damage and create more chaos and confusion, and between reading for meaningful and constructive debate that looks at thenational conscience for the benefit of the country and people in the thorny file has been associated in developing countries , motives and objectives political donors, motivated produced economic and social crises raging in possession of all the elements ofcontinuity crisis and create objective conditions for the outbreak of another crisis more severe in order dependence of the economies of those countries in favor of the triad ofglobalization (IMF, World Bank, World trade Organization) and Ihrkhma.
It is also important to know benefits that can be achieved by the country, in getting loans at interest rates is said to be low , a 1.5 percent a year (without the knowledge of thedelay interest rate that would result from the failure to pay on time the details) , if we know that the value of the loan is $ 5.4 billion.
releases confirm that this the loan will help reduce the «extra» deficit in the state budget, the impact of the drop in oil prices, and to follow the procedures help reduce the total deficit in the state budget.
It is known that the planned budget deficit amounted to 24.2 trillion dinars , equivalent to20 billion dollars, while approaching the additional deficit resulting from lower oil prices and increased the war on terror than the same figure expenses, indicating statements that the loan will be given over five years , which means that an estimated $ 1.08 billion annual value of the loan, this figure accounts for about 2.5 percent of the value ofcomposite deficit ..
and therefore does not deserve all the hype and all this package of reform requirements that perpetuate the existence of the parasitic classes that Aatacht and matured on thebody of the national Alaqsad and jeopardize the economic decision for the benefit ofcreditors, and the first was that the money supply beyond the trading which areestimated at 31 trillion activate dinars, and this is what we said when was the World Bank's loan of $ 6 billion and the Department of the nearly five years and also enclose apackage of requirements that was including stop government jobs for three consecutive years and the privatization of the public sector entirely raising suspicion about the future of the sector of
oil.
and what 's more surprising the relevant authorities remarks, with regard to the promotion of the creditworthiness of Iraq, and raise the credit rating, and the stranger in this matter is that the credit rating agencies the world often debt owed ​​by the size depends creditors in the credit rating downgrade and not vice versa, while insisting therelevant authorities that this agreement will contribute to building a financial umbrella pave the way for the seven major industrial countries to provide credit facilities for Iraq, and here it is becoming increasingly blurred! Who holds this parachute and where itcame from ? As long as Iraq is suffering from an additional deficit in the public budget, eight credit rating is very important in trade exchanges, so why focus on the importance in obtaining loans? If the perception is based on the grounds that Iraq is rich and able to repay the debt a country , it is the first that this criterion depends advance in the credit rating agencies without going into these requirements that the movement of political and economic decision recorded in the days ahead, and raises the question and strangeness more that this religion be a factor in opening the doors of assistance such as access to additional financial support from the World Bank and other countries, and the provision offacilities aimed at easing the burden of the payment of Iraq 's previous commitments with the Paris Club, as well as those relating to the payment of international financial obligations of the
other.
it 's good news, but we have the right wonder we are aware of the story of mortgaging the sovereignty and the future of many developing countries indebtedness capped a big firm of requirements, you abandoned global capitalism from the logic of cash accumulated in developing countries run in order to turn a profit and to ensure thecontinued survival of these countries in the capitalist system cabinets
world?
here we must remember , said that the debt of developing countries were not exceed more than $ 50 billion in 1968 , but it had accumulated very rapidly to more than 500 trillion dollars by the year 2010 due to the so - called external debt service (premiums and benefits) that eat up a large part of the cash resources generated by developedcountries ' exports developing.
With the sharp rise in the external debt stock increased external debt service is $ 22 billion in 1974 to $ 76.6 billion in 1980, and to $ 536 billion in 1987 , and so countries entered the city on a treadmill over its inability to meet its financial obligations in theschedule specific, because you have to request new loans and the conditions more difficult for the payment of premiums and benefits of loans
old.
In fact, 90 percent of the debt owed ​​by developing countries is only the benefits that thereal debt has been paid in the form of premiums and benefits, and in this way dependent upon the fate of the economies of those countries However , based on the triad
of globalization.