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Iraq to Improve  Fiscal Performance
World Economy

Iraq to Improve Fiscal Performance

Iraqi Finance Minister Hoshyar Zebari said that the agreement with International Monetary Fund to monitor Baghdad economic policies will help Iraq to overcome the financial crisis by improving the performance of the country’s monetary institutions, Iraqi official television reported on Wednesday, Xinhua reported. “The agreement with IMF is to improve the fiscal and monetary performance in order to stabilize the monetary situation in Iraq. This is a positive program which will help Iraq to overcome the (financial) crisis,” the state-run Iraqiya channel quoted Zebari as saying. Zebari’s comment came after his ministry agreed with IMF on a memorandum of understanding on Tuesday in Amman, the capital of neighboring Jordan, which allows IMF to monitor the Iraqi economic policies in accordance with Staff-Monitored Program for the remaining period of 2015 and 2016. A statement issued by the finance ministry said “the program aims to assist Iraq in reforming its foreign exchange policy, financial management and banking supervision.”

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