IMF to lend Iraq $3.6 billion to rebuild


For Al-Shorfa.com
2010-02-25


The International Monetary Fund is extending a $3.6 billion loan, the biggest Iraq has received from the fund, to use for rebuilding its infrastructure, BBC News reported Thursday (February 25th). The IMF has issued loans before, but with conditions that upset farmers unhappy with the removal of subsides. Lower oil prices are adversely affecting Iraq's revenue and causing budget deficit expected to last through 2011. Oil prices account for up to 90% of Iraq's income.

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