Financial and Banking News


AMF Lends $112.5mn to Three Arab Countries

The Arab Monetary Fund (AMF) has agreed to lend $112.55mn to Iraq, Jordan and Mauritania for balance of payments support, according to agreements signed on 25 December. Iraq is to receive $91mn, Jordan $14.4mn and Mauritania $7.15mn. The loans are to be repaid in four semi-annual instalments, including a grace period of 18 months, and carry annual interest rates ranging from 3.75% to 5.85%.