International Monetary Fund report: Iraq economy didn’t progress

An International Monetary Fund report affirmed that Iraq didn’t accomplish any progress in its economy despite the fact that it took the necessary steps in order to strengthen it. The report uttered that the cause might be the security situation that is worsening.

Moreover, International Monetary Fund asked the National Central Bank to keep on implementing monetary control policy and exchange rates policy in order to halt the inflation and to untie the huge connection with Dollar.

Source:

http://www.alsumaria.tv/en/Economics-News-Iraq/3-6185-International-Monetary-Fund-report:-Iraq-economy-didn%E2%80%99t-progress.html

Poor security dogging Iraq economy

WASHINGTON, Aug 2 (Reuters) - The International Monetary Fund said on Thursday it had completed a fifth review of a $727 million standby arrangement for Iraq, but warned the economy would not advance while violence continued to rage.

"The expansion of oil production is lagging and inflation, while on a downward path, remains high reflecting in large part shortages associated with the security situation, notably of fuel products," the IMF said in a statement.

"A turnaround hinges critically on an improvement in the security situation," it said.

The United States has rushed 30,000 extra troops to reinforce a clampdown aimed at stemming sectarian violence which has pushed Iraq to the brink of all-out civil war.