PFC recommends focusing on internal borrowing

Baghdad - INA

 The Parliamentary Finance Committee recommended that the government focus on domestic borrowing in the face of the financial crisis.

 Member of the committee, Representative Abdul Hadi Al-Saadawi, told the Iraqi News Agency (INA): "The Finance Committee held a meeting with the Minister of Finance and the Governor of the Central Bank to discuss the current crisis and how to deal with it, as well as the budget for the purpose of expediting its dispatch to the House of Representatives."

 He added that "there is a plan the government has to go towards internal and external borrowing to bridge the funding shortfall", pointing out that "the Finance Committee recommended not to resort to external borrowing, except for a simple thing, and relying on internal borrowing."

 It is reported that the Parliamentary Finance Committee announced that the Minister of Finance began negotiations with the International Monetary Fund to borrow $ 5 billion.