IMF: $ 15 billion loan to Iraq possible

29/03/2016 18:41

[Wayne - Follow - up]
Head of the IMF mission in Iraq , Christian Gooch said that the Fund has agreed to grant a loan of Baghdad under the demand for 3 years by June next year.

He told Reuters, "If an agreement is reached during the meetings to be held in Washington during the month of April next, Iraq will receive under the agreement to finance the estimated $ 15 billion , a third of the International Monetary Fund and the rest from international institutions and other donors.

He Gooch that" Iraq made good progress in the talks , which began last November on loan demand for three years, adding that the amount could come from several sources, including the IMF and the World Bank and the Gulf states and the United States and the Group of seven adults. "

He continued , " if admitted adjustments to make ends believe that Iraq would need funding of $ 15 billion over three years, expecting that Iraq gets a $ 5 billion at least this year and the rest by the end for the funding.

The Finance Minister Hoshiyar Zebari, announced on Tuesday , March 29, that his country is waiting to receive a financial aid worth $ 6.4 billion this year from donors and international institutions.

And Iraq earns almost all of its revenues from oil sales, and finds it difficult to pay off its obligations in light of the decline in world crude prices.