Tag Archives | Lending

Zebari Confirms $5.4bn IMF Standby Loan

By Simon Kent. Iraq’s Finance Minister Hoshyar Zebari (pictured) and the IMF’s Christian Josz (head of the IMF Iraq mission) have announced a standby loan for Iraq, following weeks of negotiations in Jordan. The loan is conditional on Iraq taking certain measures, for example, complying with an IMF monitoring scheme to reduce public sector expenditure and make […]

Rate Cuts to Boost Lending

Iraq’s central bank slashed its base rate by 100 base points to six per cent as of April 1 in reaction to subdued inflation and to boost bank lending, senior advisers at the bank said. The bank’s website said that the rate cut – the first in nine months – was effective as of April […]

Turks back major residential project.

The Investment Authority in Thi-Qar is about to reach an agreement with private and government banks in the province to provide guarantees to Turkish company Austm. It would provide loans to local investors to construct two residential areas in Shatrah. Head of IPCC, Dr. Ismail Aboudi said that the authority has set up a workshop […]