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FinancialNews


  • 07-08-21

    Iraq revives talks with International Monetary Fund

    (MENAFN)Bloomberg quoted country’s finance minister Ali Allawi as saying that Iraq revived talks with the International Monetary Fund (IMF) after previously postponed efforts to secure support.

    In 2020, discussions amid the two sides were started amid the pandemic as demand shock sent oil prices dropping, but were listed as crude and the country’s foreign reserves recovered.

    Also, the government plans to cover its budget shortfall with a USD4 billion loan from the IMF.

    Reporters said that “I do not think we will reach an agreement with the IMF before the end of this year.”

    Allawi further declared that Iraq is also estimated to ink a deal with TotalEnergies SE, a French multinational integrated oil and gas company, before the current government’s term ends. Though finalizing the contract could extend into the next administration.

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