Sat. AM TNT News Articles 11-20-21



The Iraq Economic Contact Group of the Group of Seven, the European Union and the World Bank issues a statement on elections and economic reform

The members of the Iraq Economic Contact Group expressed their satisfaction with the continuation of the dialogue with the Government of Iraq, and congratulated it, along with the Iraqi people, on the parliamentary elections that took place on October 10, 2021.

It stated in a statement: The reports of the independent observers encourage the members of the Iraq Economic Contact Group, which It states that the electoral process has witnessed a remarkable technical and procedural improvement compared to the previous elections in Iraq.

The Iraq Economic Liaison Group called on all parties to resolve any disputes related to the elections that may arise peacefully through the existing legal channels.

The group hopes for the rapid formation of a government that maintains the priority of economic reform, and addresses the structural challenges facing Iraq.

And she added that despite the current recovery in oil prices, which provides the Iraqi state and its economy with more revenue, the heavy dependence on oil exports is not sustainable in the long term, with the decline in global demand for hydrocarbons.

She indicated that economic reform, as stated in the government’s white paper, is required to ensure diversified and inclusive growth, create sustainable job opportunities for the growing youth group, enable the private sector to thrive and serve the economy, and ensure macroeconomic and financial sustainability in response to external shocks.

She noted that these basic reforms should be implemented along with policies in the interest of human capital development, mitigating and adapting to climate change, and providing basic services.

The group calls on the leaders of Iraq and the next government to give priority to reforms and to ensure that the reform process is implemented quickly.

And she stressed the continuation of the white paper on the Iraqi government as an important tool in continuing to achieve those reform goals.

The Iraq Economic Contact Group reiterated its commitment to support the Iraqi government in its reform efforts, and is ready to continue its current support.

It is noteworthy that the Iraqi Economic Contact Group, launched by the Group of Seven, the European Union and the World Bank on October 22, 2020 in London, is an international alliance that supports the efforts of the Government of Iraq to advance the implementation of pivotal economic reformslink

Source: Dinar Recaps


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