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Iraq Receives First $634US Million in Funds from First Instalment of IMF $5.3US Billion Loan

Iraq Receives first Installment of IMF Fund

The Iraqi government has reportedly received the first installment of the $5.3-billion dollar loan recently approved by the International Monetary Fund (IMF).

A senior Iraqi official told Anadolu Agency:

“The Iraqi government received Tuesday the first $634 million installment.

“The first installment will be allocated to the … relief of the displaced, education, health, and social care.“

He added that three of the 13 payments will come during 2016, and totalling an estimated $2 billion. The interest rate of 1.5 percent.

 

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