Iraq: Second Review Under the Stand-By Arrangement, Requests for Waiver of Applicability, Extension of the Arrangement, and Rephasing of Access—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iraq.

March 28, 2011

Summary

A financial program that aims to ensure macroeconomic stability of Iraq was discussed. The Iraqi economy was severely affected in 2009 by the decline in oil prices. Macroeconomic stability was maintained in 2010, despite a highly uncertain domestic and external environment. Policy discussions were framed by Iraq’s medium-term prospects, especially with regard to the development of its vast hydrocarbon resources. Structural reforms under the program aim at improving public financial management.

Subject: Banking, Budget planning and preparation, Commodities, International trade, Oil, Oil exports, Oil prices, Oil production, Prices, Public financial management (PFM)

Keywords: Budget planning and preparation, central government spending bill, CR, Global, government, grants waiver, investment spending, Iraq, ISCR, Middle East, Oil, Oil exports, Oil prices, private sector, program safeguard, SBA to SDR, SDR

Pages:
71
Volume:
2011
DOI:
---
Issue:
075
Series:
Country Report No. 2011/075
Stock No:
1IRQEA2011001
ISBN:
9781455231096
ISSN:
1934-7685

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