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.
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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.
