Zebari Dismissed - What now for IMF Loan?

It should be noted that Abadi submitted an economic reform project that was agreed upon with the delegation of the Kurdistan Regional Government on Jan. 31, with the aim of reducing dependence on oil as the sole source of national income and maximizing other resources, all the while showing full commitment to collecting tariffs and income tax, which serve as financial resources to the federal government and benefit the Kurdistan Region and the provinces.

What further deepens concerns over the presence of other non-declared IMF conditions is the Iraqi government’s delay to present the loan details to the parliament despite much speculation by parliamentary parties, which believe that the loan will lead to the imposition of harsh conditions that would affect the ordinary citizen and lead to the cutting down of employees' salaries and the abolition of ration cards.

Meanwhile, there are parties that support the government's move toward foreign borrowing and deny the existence of direct harm to Iraqi citizens, arguing that the World Bank loan terms and interest rates are easy to deal with.

The coming months will definitely reveal the reforms and conditions imposed by the World Bank on Iraq as well as the interest to be paid by the Iraqi government in exchange for the loans, as the latter takes advantage of the financial budget law, which allows the government to conclude agreements and borrow money without referring to the parliament.


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