Iraq Economist: Japanese concessional loans are important and necessary at present ...

Sunday 27-11-2011

Conflict over the adoption by Iraq of financing investment projects

Baghdad — ALA Fadel

An Iraqi Economist counting Japanese concessional loans to Iraq recently to mission-critical at the moment, at the time expressed reservations about adopting economists over Iraq loans to finance investment projects in the ministries could not implement its development plans and rotates the remaining added to balance the following year.

economist Helal altaian:» the use of loans as a means of implementing the positive political projects». adding l (citizen)» soft loans for very small proportions and will not affect the economic situation in the country, but comes to usefulness». "»Japanese loans are loans in which certain restrictions but are soft and can be repaid over (40) years by the Government with donor agreement», and continued these loans altaian» nothing budget, most countries benefit despite its big budget» and «State budget remained weak due to the absence of strategic plans and without the existence of mechanisms based on successful economic bases.»» these loans considered would not pose any more up the Iraqi economy or limited because of negligible interest loans and soft little». Japan during the visit of the President of the leading b-Maliki agreed to grant loans to Iraq by some 750 million dollars to assist in reconstruction.

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Was Maliki started his on the 20th of November at the head of a large delegation included Ministers of transport, Hadi Farhan al-Amri and Ahmad Nasser alkerboli industry and oil for Abdelkarim would and senior advisers and officials.

The joint statement issued at the end of the visit of Japanese loans funded Iraq four new projects in vital sectors. Malki noted the contribution of projects to be implemented with loans in the social and economic stabilization and development of self-sufficiency and his Chief Adviser to Prime Minister thamir ghadhban» the biggest of these projects cost about $ 500 million to expand the capacity of the Basra refinery in addition to the development of telecommunications in Baghdad, Mosul and Basra hospital and conduct a detailed study to increase the production of the Baiji refinery».

predicted Iraq can ghadhban from Japanese loans to increase oil exports noted that Japanese enterprises are concentrated in sectors that contribute to the improvement of living conditions, but diversifying the economy. Economic analysts had expressed reservations about adopting Iraq on loans to finance investment projects in the ministries could not implement its development plans and rotates the remaining added to balance the following year.

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