IMF to help Baghdad rein in spending, deficit

Tehran, Dec 16, IRNA – The International Monetary Fund is expected to sign an agreement with Iraq in the coming days on a program to monitor the country's economy and to help it cut spending and reduce the deficit.

“The IMF is seeking to sign an agreement with Iraq on a monitoring program of its economy,” said Masood Ahmed, IMF Director of the Middle East Office, reported the Iraqi News website on Tuesday.

“This program will follow-up and monitor the effective performance of the Iraqi financial authorities which will lead to the creation of a financial program to be agreed upon next year,” Ahmed added.

Iraqi authorities agreed last month to authorize IMF to monitor Baghdad's economic policies.