Iraq Attempts to Refinance Boeing Deal

By John Lee.

Iraq is requesting the U.S. Export-Import Bank (Ex-Im Bank) to finance the purchase of 10 planes from Boeing.

Finance Minister Hoshyar Zebari told reporters in Washington that the planes have already cost the government $500 million (600 billion Iraqi dinars).

If the request is granted, Boeing would repay the money it has already received.

Iraq is currently facing a severe budgetary deficit, and is in negotiations with the International Monetary Fund (IMF) for assistance.

(Source: Reuters)

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