Iraq is seeking a $3-4bn loan from the IMF despite a “relative improvement” in the country’s finances, finance minister Ali Allawi told local media on 8 August. Key oil revenues soared to pre-Covid levels in July, providing the government with much-needed fiscal relief (MEES, 6 August).
Talks with the IMF have been ongoing since PM Mustafa al-Kadhimi’s government took office in May 2020, but his government’s struggles to pass budgets and implement reforms have held up progress. Mr Allawi anticipates an agreement will be reached by year-end, but October parliamentary elections loom. (CONTINUED - 955 WORDS)
