Financial and Banking News
AMF Lends $13mn to Iraq, Plans Changes
The Abu Dhabi-based Arab Monetary Fund (AMF) on 23 March signed an agreementwith the Government of Iraq to provide a three-year balance of payments supportfacility worth $13.3mn. The loan carries a 4.15% annual rate of interest.
The AMF announced last week that it will establish an income-earning pool ofliquid assets equivalent to at least 20% of its loans to Arab governments inorder to...