{"id":53065,"date":"2016-01-12T17:21:00","date_gmt":"2016-01-12T19:21:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/imf-to-assist-iraq-in-rebalancing-finances\/"},"modified":"2019-06-30T12:55:11","modified_gmt":"2019-06-30T15:55:11","slug":"imf-to-assist-iraq-in-rebalancing-finances","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/imf-to-assist-iraq-in-rebalancing-finances\/","title":{"rendered":"IMF to assist Iraq in rebalancing finances"},"content":{"rendered":"<p>S&atilde;o Paulo &ndash; Iraq will get assistance from the International Monetary Fund (IMF) to rebalance its economy, reduce its deficits and improve allocation of government funds. In a press release this Tuesday (12), the Fund announced that a Staff Monitored Program (SMP) had been requested last November by local authorities and has been approved by IMF managing director Christine Lagarde. The deal provides for assistance from IMF technicians until December 2016.<\/p>\n<p>The IMF claims Iraq is facing two problems that hamper sustained growth and investment attraction. One is the plummeting price of oil, the country&rsquo;s primary revenue source, which harms its budget, mid-term growth and export performance. <\/p>\n<p>The other issue is the presence of Islamic State in part of its territory. &ldquo;The conflict is hurting the non-oil economy through destruction of infrastructure and assets, disruptions in trade, and deterioration of investor confidence,&rdquo; the Fund said in its press release. <\/p>\n<p>According to the IMF, Iraqi authorities have called on it for assistance in regaining equilibrium in its balance of payments and budget, and eventually through loans. The first measures under the SMP will be rebalancing spending and revenues and reducing the non-oil deficit by USD 20 billion, or 12% of Gross Domestic Product (GDP), by the end of this year. <\/p>\n<p>Some actions have been taken before the deal&rsquo;s approval, including measures to strengthen public financial management, anti-money laundering and countering the financing of terrorism and financial sector stability.<\/p>\n<p><strong>*Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-179903\">Haidar Mohammed Ali\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The agreement with the International Monetary Fund does not involve cash yet, only assistance with cutting spending and improving the financial system.<\/p>\n","protected":false},"author":2316,"featured_media":179903,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-53065","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"The agreement with the International Monetary Fund does not involve cash yet, only assistance with cutting spending and improving the financial system.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/53065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=53065"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/53065\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/179903"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=53065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=53065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=53065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}