The heads of the World Bank and the International Monetary Fund say they are ready to respond to requests for help in the rebuilding of Iraq
Published:
11 April 2003 y., Friday
World Bank President James Wolfensohn says any major commitment of funds to rebuild Iraq is contingent on the United Nations recognizing a new Iraqi government.
Horst Koehler, the head of the IMF, says the first step is to determine Iraq's financial needs. The IMF has not examined the Iraqi economy for more than 20 years. The IMF and World Bank are owned by their 184-member governments and are required to deal only with government entities.
Mr. Kohler, the German civil servant who has headed the fund for more than two years, says the winding down of the Iraq war is good news for a stumbling global economy.
"First, I think we all should be relieved that hopefully the war will end rapidly," he said. "This cloud hanging over us should fade away. Already now oil prices are below, as you may have seen, our assumption for the world economic outlook."
The IMF predicted that the oil price would average $31 a barrel this year.
Šaltinis:
VOA News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is making a €4 million equity investment in Geofoto, a Croatian geodetic company offering mapping, geodetic survey, photogrammetry, geoinformatics and aerial survey services, to support its drive to expand operations on international level.
more »
Nordea came out of 2009 in an even stronger position, despite one of the most challenging years for decades. Risk-adjusted profit increased 22% and our capital position and cost of funding are among the best in Europe.
more »
MEPs gave the green light on Thursday for EU funding to help Europe's unemployed start up small businesses.
more »
MEPs are deeply concerned about the long-standing and growing presence of al-Qaeda, and the deteriorating security, social and economic problems in Yemen, which they think could destabilise neighbouring countries.
more »
At the start of a new decade, Sub Saharan Africa is reeling from the effects of three major global crises – food, fuel and financial – that have reversed many of the economic achievements of the last 10 years and left some growth projections at levels below those of 30 years ago.
more »
The 5th High-level Seminar of Central Banks in the East Asia-Pacific Region and the Euro Area was jointly organised by the European Central Bank and the Reserve Bank of Australia, in cooperation with the Hong Kong Monetary Authority.
more »
The EBRD and European Fund for Southeast Europe are boosting the availability of financing to private businesses in Moldova with a $10 million loan to ProCredit Bank in Moldova for on-lending to micro and small enterprises.
more »
The EBRD is supporting the development of the retail infrastructure in Croatia with a €68 million loan to finance the construction of a modern shopping centre in Split, the second largest city in Croatia.
more »
The European Bank for Reconstruction and Development has agreed to sell its 15 percent stake in OAO Swedbank Russia to its parent and major stakeholder, Sweden’s Swedbank AB, a move which would give it full ownership of its Russian subsidiary.
more »
The Ministers of Industry took the first steps in San Sebastián today to make the electric vehicle a reality in Europe and agreed that European institutions, with the EC at the head, should lead a common strategy on electric vehicles.
more »