EU Help KRG Han­dle its Fi­nan­cial Cri­sis

The Kurdish Globe - - SPORTS NEWS -

Kur­dis­tan Re­gional Govern­ment (KRG) Rep­re­sen­ta­tive to the EU stated that the EU mem­bers will ex­plore fur­ther means to help KRG and the Iraqi govern­ment to over­come the fi­nan­cial dif­fi­cul­ties faced by the coun­try.

Di­lawar Azh­gayi, the KRG Rep­re­sen­ta­tive to the EU, told BasNews that EU will be dis­cussing the ap­proach of the fi­nan­cial as­sis­tance to KRG in its next meet­ing to help the re­gion re­cover from the fi­nan­cial and bud­getary im­passes.

EU will help KRG in co­or­di­na­tion with the In­ter­na­tional Mon­e­tary Fund (IMF), an or­ga­ni­za­tion which works to fos­ter global mon­e­tary co­op­er­a­tion, as well as the World Bank, which in­di­cates that EU sup­ports lend­ing loans to KRG.

KRG is suf­fer­ing from fi­nan­cial cri­sis due to the slide in oil price and shel­ter­ing nearly two mil­lion IDPs and refugees. More­over, the Iraqi govern­ment has failed to send KRG's bud­get share since Jan­uary, 2013.

Along with the se­vere fi­nan­cial cri­sis, Kur­dis­tan Re­gion is cur­rently in a costly war against the Is­lamic State (ISIS) in north­ern Iraq, and it has con­stantly been de­mand­ing the in­ter­na­tional com­mu­nity to wage the Pesh­merga forces in their war as they are fight­ing on be­half of the world.

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