IMF sees Iraq economic program in the fall
Apr 5 2005 1:22
WASHINGTON, April 4 (Reuters) - The International Monetary Fund and new Iraqi government expect to have an economic adjustment program in place in the fall if security improves, the IMF's top official for the Middle East said on Monday.
Mohsin Khan, IMF director of the Middle East and Central Asia, said there had been progress and setbacks in implementing banking, budget and tax collection reforms.
The IMF provided Iraq with $436 million in post-conflict aid in September to help the country's transition to a market economy, but economic rebuilding has been affected by months of violence by insurgents opposed to U.S.-led forces in Iraq.
Political deadlock has also held up the formation of a new Iraq government since the country's Jan. 30 elections.
"Iraq continues to suffer from shortages of fuel, gasoline, and electricity -- which, in turn, give rise to inflation," Khan told an internal publication IMF Survey in an interview.
"Even so, we envision having an IMF-supported adjustment program in place by fall 2005, assuming that the election leads to a significant reduction in the security problems," Khan said.
Consensus is the absence of leadership-Margaret Thatcher
Concentrated power has always been the enemy of liberty.