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Iraq Receives 3 Year Stand by Arrangement from the International Monetary Fund

Iraq’s economic program has received $5.34US billion that will aid the economic downturn caused by global oil prices hitting record lows

Iraq’s economic program has received a three-year standby arrangement or SBA from the Executive Board of the International Monetary Fund (IMF) for $5.34US billion. This means Iraq’s Economic Reform Program will receive much needed funds that will go to aid debt sustainability, protecting the poor, public financial management, financial sector stability and to curb corruption. However, the international community will need to provide substantial support for this project to succeed.

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