Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 16 remittance companies took part in its currency auction on Tuesday. A total of $146,727,081 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 16 remittance companies took part in its currency auction on Sunday. A total of $134,652,143 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Iraq Mission Chief for the International Monetary Fund (IMF) has said that the staff-monitored program that started in November 2015 is designed with a focus on four key elements: reducing budget spending and restoring public finances to a healthy state and stabilize debt; protecting spending on the social front to ease […]
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, […]
By John Lee. The Iraq Mission Chief for the International Monetary Fund (IMF) has said Iraq's oil sector grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016. This contrasts with the fortunes of the non-oil economy, which contracted by 19 percent in 2015 and is […]
By John Lee. The Iraq Mission Chief for the International Monetary Fund (IMF) has said that he sees no reason to devalue the Iraqi dinar "under current circumstances", and says the authorities are "committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar". Christian Josz told IMF News: "Iraq has maintained a peg to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $137,471,209 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraqi Government, EU, IMF, UNAMI, and World Bank representatives participate at IBBC’s annual retreat in Windsor Dara Rasheed, Iraq’s acting Minister of Housing and Construction, Jan Kubis, Head of UNAMI and Special Representative of the United Nations for Iraq, Robert Bou Jaoude, World Bank’s Special Representative for Iraq, Patrick Simmonet, EU Ambassador to Iraq and […]
The Executive Board of the International Monetary Fund (IMF) on Thursday approved a three-year Stand-By Arrangement (SBA) for Iraq for SDR 3.831 billion (about US$5.34 billion, or 230 percent of quota) to support the government’s economic reform program. The Board’s approval enables the disbursement of SDR 455 million (about US$634 million). In July 2015, Iraq […]
By John Lee. The United States is to extend a $2.7-billion foreign military finance credit facility to Iraq. According to reports from Associated Press, the deal will allow Iraqi security forces to defer payment for the purchase of ammunition and maintenance of its F-16 aircraft and M1A1 Abrams tanks. The agreements grants Iraq a one-year […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $151,374,269 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 17 remittance companies took part in its currency auction on Tuesday. A total of $144,725,099 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
