Iraq wants billions in IMF loan

BAGHDAD - Iraq wants a a seven-billion-dollar loan from the International Monetary Fund (IMF) to cover its budget deficit, Finance Minister Baqer Jabr Solagh said yesterday.

BAGHDAD - Iraq wants a a seven-billion-dollar loan from the International Monetary Fund (IMF) to cover its budget deficit, Finance Minister Baqer Jabr Solagh said yesterday.

"Iraq is trying to secure a seven-billion dollar (R57,4billion) loan from the IMF to cover its budget deficit for this year and next," he said.

He said Iraq is also seeking to encourage creditor countries to forgive some of its debts in exchange for "a more open door" approach to investments in the oil-rich country. - Sapa-AFP

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