Iraq may get $ 15 billion in loan demand for 3 years

Tuesday 29-03-2016 | 6:26:19

Twilight News Head of IMF mission in Iraq, Christian Gooch / said on Tuesday that the Fund has agreed to loan demand for the three years of Iraq by June, if an agreement is reached during the meetings scheduled in Washington next month.

Gooch told Reuters that Iraq will receive under the agreement on the financing has nearly $ 15 billion, a third of the IMF and the rest from international institutions and other donors.

"If we finished the discussions in April in Washington, I think that we can put on a loan agreement under the demand for the Fund's Board in June for approval."

Gooch said that Iraq had made good progress in the talks, which began in 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.

"If introduced amendments to make ends believe that it (Iraq) will require funding of $ 15 billion over three years," he predicted that Iraq gets five billion dollars, at least this year and the rest by the end for the funding.

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