Iraq: First and Second Reviews Under the Stand-By Arrangement, Financing Assurances Review, and Request for Waiver of Nonobservance and Applicability of Performance Criteria—Staff Report; Staff Supplement; Press Release on the Executive Board Discussi

First and Second Reviews Under the Stand-By Arrangement, Financing Assurances Review, and Request for Waiver of Nonobservance and Applicability of Performance Criteria—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iraq

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Volume/Issue: Volume 2006 Issue 301
Publication date: August 2006
ISBN: 9781451819113
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Topics covered in this book

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Inflation , Economics- Macroeconomics , Public Finance , Industries - Energy , ISCR , CR , government , policy , agreement , amount , crude oil production , debt , crude oil oil production , inflation dynamics , good faith effort , supply disruption , inflation rate , central bank of Iraq , Oil , Inflation , Oil prices

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Summary

The government of Iraq is committed to reform the pension law before it goes into effect. Good progress has been made in setting up a payments system. The Central Bank of Iraq (CBI) and ministry of finance are coordinating their strategy toward restructuring the state-owned banks. The government expects to initiate negotiations on resolving non-Paris Club official claims very soon. Iraq’s medium-term economic prospects look reasonably favorable, but are subject to considerable risk. The new government has taken important and decisive measures to bring the program back on track.

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