IMF agrees on $833 million loan to Iraq
The program, which must still be reviewed by the IMF's board next month, would help Iraq cope with the plunge in oil prices
The International Monetary Fund reached an agreement on Friday with Iraq for a $833 million loan program that should help the country with its finances and increase investor confidence.
The program, which must still be reviewed by the IMF's board next month, would help Iraq cope with the plunge in oil prices since last year, and the violence tied to the Islamic State insurgency, the IMF said.
The Iraqi government has projected a budget deficit of about $25 billion this year, in a budget of some $100 billion.
IMF may agree on $800 mln loan to war-torn IraqIraqi finances have been hit hard by the plunge of oil prices since last year as well as by the ISIS insurgency Economy
Iraq finance minister: in discussions with IMF, no decision on aid request‘We haven’t decided to resort to them. At the moment, we are not that bad,’ says Iraqi Finance Minister Hoshiyar Zebari Economy
IMF: Iraq economy shows less contraction in 2014The IMF estimated Iraq’s gross domestic product would shrink 2.7 percent this year. Energy
Iraq expects 2015 budget based on $80 per barrel oil priceIraq’s budget breakeven point for 2014 is above $100 a barrel according to the IMF Energy
IMF warns Iraq crisis could lead to higher oil pricesLagarde said the turmoil in the Middle East would be at the center of the annual Meetings of the International Monetary Fund (IMF) Energy