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FINANCIAL NEWS
IMF issues USD618mn loan for Iraq
06 Dec 2016
(MENAFN) The IMF proclaimed the release of the second installment of a loan for Iraq, despite financial difficulties with low oil prices and the fight against the ISS group.
Furthermore, the IMF issued USD617.8mn of the USD5.34bn a three-year loan approved in July, following the first review of the government”s reform efforts.
However, the country’s performance under the program made to address urgent budget issues has been mixed and Iraq missed some of its targets.
Meanwhile, Iraq’s economic reform program aims to gain spending in line with lower global oil prices, which have been hovering almost 50 a barrel.
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