Iraq receives first $634m Payment from IMF

By John Lee.

The Iraqi government has reportedly received the first installment of the $5.3-billion dollar loan recently approved by the International Monetary Fund (IMF).

A senior Iraqi official told Anadolu Agency:

"The Iraqi government received Tuesday the first $634 million installment.

"The first installment will be allocated to the ... relief of the displaced, education, health, and social care."

He added that three of the 13 payments will come during 2016, and totalling an estimated $2 billion. The interest rate of 1.5 percent.

(Source: Anadolu Agency)

(Dollars image via Shutterstock)

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