International Monetary give Iraq credit line worth $ 5.34 billion
International Monetary give Iraq credit line worth $ 5.34 billion
08.07.2016 12:51
[Where – Baghdad]
and approved by the International Monetary Fund, to give Iraq a line of credit worth $ 5.34 billion to help it overcome the financial crisis faced after the deterioration of oil prices and the war against terrorism.
The fund said in a statement, his Thursday July 7, that the Iraqi government will get the case on an initial loan of $ 634 million, while it must implement economic reforms series for the rest of the installments of this assistance plan for three years.
The statement quoted Maine Chu, a manager assistants in the fund, saying: ” the Iraqi economy has suffered severely from the double trauma of the organization of the Islamic state and very low attacks in oil prices.”
Fund expressed in his statement expressed concern especially about the arrears “big” accumulated on Baghdad , which is struggling to meet its financial obligations. the
fund was granted in Baghdad in July 2015 a loan of $ 1.24 billion to help the advancement of the public own finances. Under the previous rapid financing tool program.
Iraq is going through a financial crisis due to falling oil prices , which constitutes 90% of the public budget is paid to borrow from the International Monetary Fund and the World Bank and earned them about $ 15 billion received by over three years.
alliraqnews.com
