Imf says executive board approves $5.34 bln, three-year stand-by arrangement for ira
IMF SAYS EXECUTIVE BOARD APPROVES $5.34 BLN, THREE-YEAR STAND-BY ARRANGEMENT FOR IRAQ
· 07-Jul-2016 02:37:43 PM - IMF SAYS IRAQ APPROVAL ENABLES DISBURSEMENT OF ABOUT $634 MILLION
IMF board approves $5.34 bln stand-by arrangement for Iraq - Reuters News
07-JUL-2016 02:47:47 PM
WASHINGTON, July 7 (Reuters) - The International Monetary Fund said on Thursday its executive board approved a new three-year, $5.34 billion stand-by arrangement for Iraq to support Baghdad's efforts to deal with lower oil prices and ensure debt sustainability.
The IMF said in a statement the approval will allow for the immediate disbursement of about $634 million under the program. In July 2015, Iraq received about $1.24 billion under the previous rapid financing instrument program.
(Reporting By David Lawder; Editing by Chris Reese)