By John Lee. According to a report from the International Monetary Fund (IMF), the external outlook for Iraq has worsened since the latest Article IV consultation assessment (May-June), mainly owing to a further weakening of global oil prices. The analysis finds: "Lower capital spending on the back of falling oil revenue is expected to contract […]
By John Lee. The International Monetary Fund (IMF) is expected to finalize an agreement with Iraq in the coming days for a program to monitor its economy. The fund's Middle East director, Masood Ahmed, told Reuters the program would establish a track record of effective performance from the Iraqi authorities which could lead to a […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail (pictured), has said that he expects Iraq’s foreign currency reserves to total about $60 billion by the end of the year. According to the report from Bloomberg, that is higher than the International Monetary Fund (IMF) predicts, and sufficient to […]
An International Monetary Fund (IMF) mission led by Christian Josz visited Amman from November 1–10, 2015 to discuss a Staff-Monitored Program (SMP) with the Iraqi authorities. At the end of the visit, Mr. Josz issued the following statement: “Iraq continues to face a number of challenges. Key among those is the ongoing armed conflict with […]
By John Lee. The International Monetary Fund (IMF) may provide a large loan to Iraq to help stabilize the country's finances, a senior IMF official has told Reuters. Masood Ahmed (pictured), Director of the IMF's Middle East and Central Asia Department, said an IMF team will discuss with Iraqi officials early next month how to […]
On July 29, 2015, the Executive Board of the International Monetary Fund (IMF) approved SDR 891.3 million (about US$1.24 billion or 75 percent of quota) for Iraq under the Rapid Financing Instrument (RFI). The purpose of this financial assistance is to help Iraq address present and urgent balance of payment and budget needs in 2015 […]
An International Monetary Fund (IMF) mission led by Carlo Sdralevich visited Amman from May 27 – June 4, 2015 to discuss with the Iraqi authorities financial assistance to Iraq under the Rapid Financing Instrument (RFI). At the end of the visit, Mr. Sdralevich issued the following statement: “The mission has reached a staff-level agreement with […]
By John Lee. Finance Minister Hoshyar Zebari (pictured) said on Wednesday that Iraq has decided to issue $5 billion in international bonds, as it attempts to finance a budget deficit of $25 billion for the current year. He told reporters in Washington that negotiations were in progress with Citibank and Deutsche Bank, but according to […]
By John Lee. Iraqi Finance Minister Hoshiyar Zebari has confirmed that Iraq is discussing its financial situation with the International Monetary Fund (IMF). Speaking on the sidelines of a conference in Kuwait on Tuesday, Zebari did not elaborate on what aid might be provided, but according to the report from Reuters he has previously said […]
The International Monetary Fund (IMF) has issued its findings following a recent visit to Iraq. End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the […]
