Sunday, July 17, 2016



The chances of a liberated Iraq most likely vanished this week with the International Money Fund announcing:

The IMF has approved a three-year, $5.34 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability. 

The loan will be provided under the Stand-By Arrangement facility and also includes measures to protect vulnerable populations—critical in a time of ongoing conflict, which has resulted in over 4 million internally displaced people. 

There has been silence on this topic -- even among notable 'lefties' like Phylis Bennis -- as we noted January 15th, "Even though the IMF will be yet another form of occupation."

Iraq's Grand Ayatollah Ali al-Sistani has long warned against taking money from the IMF but Prime Minister Hayder al-Abadi elected to ignore al-Sistani.

There was time for American left 'leaders' to voice their objection to this take over.

The May 19th snapshot noted:

Mohammad Tayseer and Dana Khraiche (BLOOMBERG NEWS) report, "Iraq has reached a $5.4 billion, three-year loan agreement with the International Monetary Fund to help OPEC’s second-biggest producer repair public finances damaged by the plunge in oil prices and war with Islamic State militants."
The revenge fantasies, where the daughter of Saddam Hussein must be captured and flogged in the streets of Baghdad?
They are raw meat tossed to the masses to distract them from the ongoing corruption in Iraq.
Billions of dollars have disappeared from the country's coffers as a result of corrupt politicians and officials.
Rather than fretting over the daughter of Saddam Hussein, they might ask how Nouri al-Maliki's son ended up with all those sports cars and residences outside of Iraq.
Where did that money come from?
How did Nouri's two terms as prime minister of Iraq leave him such a wealthy man?
Those are questions that need to be asked.
The Iraqi people live in squalor.
They have no dependable public services.
Baghdad floods in the raining season -- water up to the knees in some sections (including Sadr City) and that's due to the crumbling public infrastructure.
The corruption is not a secret.
There have been US Congressional hearings on the topic going back to the years when Bully Boy Bush occupied the White House.
Billions have been stolen.
And now the IMF is getting their hooks into Iraq.

The IMF $5.4 billion loan to Iraq will have an annual interest rate of 1.5 per cent, Iraq's Central Bank Governor Ali Al Alak said at a press conference, following a week of talks with IMF officials in Jordan, Reuters reported.
The IMF deal will allow Iraq to secure additional financial aid of around $15 billion over the next three years, including securing international bonds, according to [Iraq's Finance Minister Hoshiyar] Zebari. 

At this late stage, who's still pretending that the IMF helps out countries in trouble?

Thursday, Stephen Kalin (REUTERS) reported:

Pressured by lower-than-expected oil prices, Iraq will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo released by the International Monetary Fund on Thursday.

OPEC's second-largest producer, which relies on oil exports for nearly all its revenue, has sought donor support amid a collapse in global crude prices and a costly war against Islamic State militants that has displaced more than 3.4 million people.

Non-oil spending cut by 15%?

It's already been cut.

The Iraqi people will suffer yet again.

The corruption is never-ending.

Which is why protests never end in Iraq.

Which is why even threats do not stop the protesters.

And threats were was issued Thursday ahead of Friday's protests.

AFP noted that the security forces issued an announcement that anyone protesting would be dealt with "as a terrorist threat."

RECOMMENDED: "Iraq snapshot"