Country has made good progress in reconstructing its economy
Iraq is to receive $741m in financing from the International Monetary Fund (IMF) after the country made good progress in reconstructing its economy, AFP has reported. The two-year loan, called a stand-by arrangement, offers Iraq $3.7bn to help authorities ensure macroeconomic stability, advance structural reforms and temporarily support the budget. The loan is the second installment of a 24-month loan the IMF awarded to Iraq in February.
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