IMF plans $833 mn in emergency aid to Iraq

Iraqi fighters from the Shiite Muslim Al-Abbas popular mobilisation unit battle Islamic State jihadists in an area surrounding the village of Dujail in the Salaheddin province, north of Baghdad, on May 26, 2015The International Monetary Fund said Friday it was preparing $833 million in emergency financial assistance to Iraq as the country battles the Islamic State insurgency. The IMF said a mission had agreed on the aid with the Iraqi government under the Fund’s Rapid Financing Instrument program, subject to IMF management approval, which is likely to come in July. “The Fund is ready to assist Iraq in its efforts to tackle the economic impact of the conflict with ISIS (Islamic State) and the decline in global oil prices,” it said.

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