Iraq is not doing well. Here are the reasons for the loan: ISIS created both a humanitarian as well as a social crisis. Millions of people have been internally displaced within Iraq. ISIS has caused destruction to both assets and infrastructure, which has lead to disruptions in production and in trade route. Iraq's non oil economy contracted sharply as a result in the disruption … [Read more...]
IMF Update on Iraq July 2016
IMF Executive Board Approves US$5.34 billion Stand-By Arrangement for Iraq Press Release No. 16/321 July 7, 2016 The Executive Board of the International Monetary Fund (IMF) today approved a three-year Stand-By Arrangement (SBA) for Iraq for SDR 3.831 billion (about US$5.34 billion, or 230 percent of quota) to support the government’s economic reform program. The Board’s approval enables the … [Read more...]