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
Reform of the banking system was one of the key themes at this year's World Economic Forum in Davos, with bankers coming in for a lot of criticism.
more »
Small firms have been hard hit by the economic crisis, and so must be given incentives and support, including easier access to credit, help with innovation, tax breaks and less red tape, MEPs on Parliament's Special Committee on the Financial, Economic and Social Crisis (CRIS), and experts agreed at a workshop on Monday.
more »
The elections and investiture of Porfirio Lobo as President of Honduras have cleared the way for the EU to restore normal relations with the Central American country and negotiations for signing a bi-regional Association Agreement may soon resume.
more »
The European Commission has approved applications from Lithuania for assistance under the European Globalisation Adjustment Fund (EGF).
more »
The European Commission has decided to refer Italy to the European Court of Justice (ECJ) on the basis of Article 108(2) of the Treaty on the Functioning of the European Union (TFEU) for failing to comply with a Commission decision of July 2008.
more »
The EBRD is helping to strengthen the financial sector in Bosnia-Herzegovina (BiH) with a €50 million credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA), the Bank’s first investment in a deposit insurance entity.
more »
In its first investment in the natural resources sector in Bosnia and Herzegovina, the EBRD is providing a €17 million sovereign loan to finance the gasification of the Central Bosnia Canton.
more »
The EBRD is increasing the availability of financing to private businesses in Armenia with a $5 million credit line and a $3 million trade finance facility to ArmSwissBank for small and medium companies (SMEs).
more »
On January 27 the European Commission assessed the action taken by Lithuania, Malta, Latvia and Hungary in response to recommendations proposed by the Commission and endorsed by the Council in July 2009 in respect to the correction of their respective budget deficits.
more »
EUROSTAT announced that Lithuania’s GDP rose by 6.1 % in the 3rd quarter of 2009 versus the previous quarter.
more »