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Iraq needs $5 billion from donors: UN
Washington, Aug 06: Iraq will need five billion dollars from a planned meeting of international donors in October to keep its creaking infrastructure and basic services going, the UN humanitarian coordinator for Iraq has said.
Washington, Aug 06: Iraq will need five billion dollars from a planned meeting of international donors in October to keep its creaking infrastructure and basic services going, the UN humanitarian coordinator for Iraq has said.
Ramiro Lopez Da Silva told reporters in Baghdad yesterday that Iraq's finance ministry officials estimate the cost of keeping the country's institutions and services running at $20 billion for 2004. That includes recurring costs
covered in the annual budget.
On the revenue side, Iraq could expect little income beyond what its ramshackle oil industry can earn, although debt forgiveness and repatriation of seized and frozen funds may also help ease the burden, reports quoted him as saying.
Given Iraq's problems in increasing oil exports, most estimates forecast total income of $15 billion or less in 2004 - leaving a gap of at least $5 billion that donors must fill.
"That is just to keep things going," Da Silva said adding, "If you want a qualitative leap, a quantum leap in living standards and conditions, you would need much more."
However, "how realistic it is to expect an inflow of $5 billion is something we will have to see in October," he said.
Bureau Report
On the revenue side, Iraq could expect little income beyond what its ramshackle oil industry can earn, although debt forgiveness and repatriation of seized and frozen funds may also help ease the burden, reports quoted him as saying.
Given Iraq's problems in increasing oil exports, most estimates forecast total income of $15 billion or less in 2004 - leaving a gap of at least $5 billion that donors must fill.
"That is just to keep things going," Da Silva said adding, "If you want a qualitative leap, a quantum leap in living standards and conditions, you would need much more."
However, "how realistic it is to expect an inflow of $5 billion is something we will have to see in October," he said.
Bureau Report