Possible $15bn in Aid for Iraq

By John Lee.

Central Bank chief Ali al-Allaq has said a possible deal with the International Monetary Fund (IMF) may unlock $15 billion in aid this year and next.

He told an interview in Beirut that he expects Iraq to receive $10 billion in assistance from the IMF and World Bank, with a further $5 billion being pledged from the Group of Seven meeting in Tokyo later this month.

“... in total, we will receive $15 billion, possibly more, in 2016 and 2017.”

According to Bloomberg, IMF officials are meeting with the Iraqi government this week in Jordan to discuss a standby loan deal; if successful, Iraq will be the first major oil producer in the Middle East to secure a loan accord with the US-based lender.

(Source: Bloomberg)

(IMF image via Shutterstock)