The Government May Have to Borrow From the Central Bank to Pay Salaries Next March
|February 25, 2014||Filled under Iraqi Parliament news|
Long-Presse / Baghdad
Promised parliamentary Finance Committee, on Monday, that the assets of the Development Fund for Iraq, DFI current amount of six billion dollars just is not enough to pay the salaries of the staff for the next month, and suggested that the government will have to borrow from the central bank to pay employees’ salaries for next March.
Said committee member, Haitham Alajabua, in an interview to the (long-Presse), “The non-approval of the federal budget for 2014, the current, means that the financial allocation is not available legally,” noting that “non-oil exports from the Kurdistan region, and the lack of approval of the budget of the reasons the main force of liquidity available to the Development Fund for Iraq, DFI.”
Added Jubouri, that “the information available, show that the assets of the Development Fund for Iraq, was six billion dollars, beginning in January 2014, will be allocated four billion and a half, including the salaries of February, the current,” returned to ” the amount of one billion and a half dollars remaining, not enough for the employees’ salaries for next March.”
Explained MP for the coalition of state law, which is headed by the prime minister, Nuri al-Maliki, that “the oil revenues included in the calculation Iraq Fund after a month of export,” pointing out that “the lack of input amounts of oil export to February, the current in such a fund would lead to address the problem in the coverage of employees’ salaries for next March.” and continued a member of the Finance Committee, that “stockpiling strategic position in the Iraqi Central Bank of 83 billion dollars,” likely to be “forced the government to borrow from the central bank, to pay the salaries of employees, whether they’re in a financial embarrassment, to reconsider the amount later.”
Promised Jubouri, that “the government does not want to open the door of borrowing from the Central Bank of Iraq because its reserves is an asset for future generations, and a factor to ensure the stability of the dinar.” He was the head of the Liberal parliamentary, (formerly) Bahaa al-Araji, said in a press conference on Sunday, said that the government’s 75 billion dinars, enough ten days fighting in Anbar against “terrorism and Daash,” returned that it means “the absence of the salaries of the staff.”
Mentions The Committees Barlmanatan financial and economic, have called, in (the 12 of February, the current), to deal seriously with the warnings of the International Monetary Fund on increased government spending, and its implications for monetary reserves, while showed the Finance Committee that the government is “threatened with bankruptcy” within four months if did not pass the budget, saw its counterpart economic, estimates that the budget “did not take” into account the regional and global developments, and it has prepared about “hazy and unclear” and was a “mere allocations”, warning of prejudice reserves, Iraq’s financial hard currency. was head of the Iraqi government Nouri al-Maliki, download last Wednesday, (the 19th of February 2014), the House of Representatives and the “parties seeking Alafshal formal status of” responsibility to the late adoption of the law of the financial budget for the current year of 2014, and confirmed that those parties “want the government to fail.”
It is noteworthy that the Development Fund Iraq DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003.
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