IMF agrees to lend Iraq $ 800 million within weeks

A senior official at the International Monetary Fund announced on Tuesday that Iraq's request for financial assistance from the Fund and it may be agreed to loan $ 800 million in a matter of weeks.

The director of the Middle East and Central Asia Department at the International Monetary Fund Masood Ahmed, "will work committees in this regard in the coming weeks. We hope that we reach an agreement relatively soon," noting that "it is likely to provide the loan through rapid funding mechanism will be relatively small .. about $ 800 million.

Ahmed added that "Iraq has begun to withdraw from its reserves and added that it is likely to grow slightly economy after a contraction of 2.4 percent recorded in 2014," noting that it "recognizes the Finance Minister and the Prime Minister completely that there is a problem and are committed to finding a solution within the constraints they face.

And it established the IMF rapid funding to provide urgent financial assistance and advice on the economic policies of the Member States that need circumscription urgent aid to adjust the balance of payments mechanism.

According to the website of the International Monetary Fund repay the loan provided by the rapid funding over a period of between 40 to 60 months mechanism.