BAGHDAD: International Monetary Fund provided an emergency aid to Iraq worth $ 1.2 billion to address the economic consequences resulting from ISIS attack and the deterioration of oil prices.
The IMF said in a statement, “This loan will help Iraq in the face of this double shock suffered by the Iraqi budget and caused the reduction of cash reserves.
The IMF said that this assistance will allow Iraq to face the “urgent needs” to finance the country.
The International Monetary Fund awarded Iraq in 2010 a credit line worth 3.5 billion dollars ended up in the beginning of 2013.
