Middle East Economic Survey

VOL. LIII

No 24

14-Jun-2010

IRAQ

Iraqi Finance Ministry Receives First Installment Of IMF Loan

The Iraqi Ministry of Finance has received the first installment of a $3.64bn loan from the IMF, the ministry said in a statement on 9 June. The loan is part of a two-year Stand-By Arrangement (SBA) that will cover the countrys balance of payments needs, and was approved by the IMF Executive Board on 24 February. The amount is equivalent to 2.38bn in Special Drawing Rights...