IMF to Fund Baghdad-Turkey Highway
The Ministry of Construction and Housing is to build a highway linking Baghdad with Turkey, according to a report from Azzaman. The 508 km road is to be financed by the International Monetary Fund...
View ArticleStatement by IMF Managing Director Christine Lagarde on Iraq
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement after a meeting with H.E. Nouri Al-Maliki, Prime Minister of Iraq in Washington on...
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IMF Forecasts Accelerating Growth for Iraqi Economy
The International Monetary Fund (IMF), in its latest World Economic Outlook, makes the following forecasts for Iraq: The report sees strong growth continuing, with a figure of 8.8% projected for 2017.
View ArticleIMF Approves 7-Mth Extension of Stand-By Arrangement
By John Lee. The Executive Board of the International Monetary Fund (IMF) has approved a seven-month extension of Iraq’s Stand-By Arrangement (SBA), to February 23, 2013. The SBA had been scheduled to...
View ArticleIraq Boosts Gold Reserves
By John Lee. Iraq made its first major move in years to boost its gold reserves, joining central banks from emerging market economies such as Brazil and Russia in diversifying its foreign reserves....
View ArticleIraq Cuts Gold Holdings by a Quarter
By John Lee. Reuters reports that Iraq cut its gold holdings by a quarter in November. Data from the International Monetary Fund (IMF) showed that the country’s stocks fell to 29.9 tonnes. (Source:...
View ArticleGDP to Shrink this year, then Recover
By John Lee. A new report from the International Monetary Fund (IMF) has forecast that the Iraqi economy will contract this year due to continuing war against the Islamic State. In its October World...
View ArticleIraqi Economy to Shrink in 2014
By John Lee. A new report from the International Monetary Fund says that Iraq’s economy is expected to shrink by 2.7 percent this year as a result of the security crisis in the country. This follows a...
View ArticleBanks Signal Drop in Iraqi GDP
By Mark A DeWeaver. As of November 6, 18 of the 21 ISX listed banks have reported third quarter earnings. The numbers aren’t pretty. Rabee Securities’ latest corporate profits report shows bank-sector...
View ArticleIraq Plans New Bond Issuance
By Simon Kent. Iraqi Central Bank Governor Ali Al-Alak has said that Iraq is issuing bonds to the value of around $2 billion in the next few months, following last year’s aborted issuance after...
View ArticleZebari Confirms $5.4bn IMF Standby Loan
By Simon Kent. Iraq’s Finance Minister Hoshyar Zebari (pictured) and the IMF’s Christian Josz (head of the IMF Iraq mission) have announced a standby loan for Iraq, following weeks of negotiations in...
View ArticleDonors Pledge $2.1 bn, More Expected
By Simon Kent. Supranational organizations and countries at the US State Department organized Washington donor conference have made pledges of hundreds of millions of dollars for Iraq. This will take...
View ArticleIMF deal sees smaller civil service
More details on Iraq’s new two-year stand-by arrangement (SBA) with the IMF were revealed in March with the publication of the Fund’s Staff Report. The main budgetary problems in 2008 contributing to...
View ArticleIMF releases $741m Loan to Iraq
The IMF (International Monetary Fund) said on Friday that it was releasing $741m [890 billion Iraqi dinars] in financing to Iraq after the country made good progress in reconstructing its war-torn...
View ArticleIMF Cuts Estimates of Iraq’s Oil Output
Oil prices in the first half of 2010 were higher than estimated by the IMF, but the volume of Iraq’s oil exports remained well below projections. Export prices of Iraqi oil averaged $75 per barrel in...
View ArticleIMF Calls for Iraq to Clear its Debts
An adviser to the Central Bank of Iraq (CBI) said on Wednesday that the International Monetary Fund (IMF) has renewed its call for Iraq to clear its outstanding debts. Nathhar Mohammed Saleh told...
View ArticleIMF Dissatisfied with Iraq’s Monetary Policy
The International Monetary Fund (IMF) has cited Iraq’s monetary policy as the reason for turning down an Iraqi request for a loan package to reduce its 2011 budget deficit, an advisor to the Iraqi...
View ArticleIMF Approves $471 Million Payment to Iraq
The Executive Board of the International Monetary Fund (IMF) completed the second review of Iraq’s economic performance under a program supported by a Stand-By Arrangement (SBA) on Friday. Completion...
View ArticleIMF Suggests Stable Iraqi Dinar
A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar: “The CBI [Central Bank of Iraq] will continue to...
View ArticleIraqi Banks Struggle with Limited Services and Capital
Reuters reports that it’s a tough road ahead for Iraqi private banks required to raise their capital to boost business as they battle against decades of state dominance to win a slice of the asset base...
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