Islamic development bank approved $3 billion loans to Iraq | ||
15/06/2016 | ||
He, however, denied providing any further details on this. Earlier, Iraq agreed a $5.4 billion standby loan with the International Monetary Fund. Hoshyar Zebari, Finance Minister of Iraq, stated that the IMF loans could unlock $15 billion more in international assistance over the next three years. Iraq's economy has been hit by the plunge in oil prices since mid-2014 and the country is expected to have a financing gap of $17 billion this year unless it can secure more funding. The cost of fighting Islamic State militants is another burden on the budget. | ||
Last Update:: 15/06/2016 | ||
Iraq Directory |