Iraq has expressed interest in a US$5.5bn International Monetary Fund (IMF) loan programme. The country is reportedly nearing an agreement with the IMF for a five-year standby loan that it would be able to draw down in three instalments.
According to local press, the issue was raised during economic consultations between Iraqi authorities and IMF staff in Amman, Jordan earlier this month.
The IMF presented its proposed conditions for the loan, which reportedly included a call for fiscal reforms, the restructuring of state banks and the reform of the banking sector.
If approved, the agreement will be the largest IMF programme agreed with the new Iraqi administration.
Further discussions will be held over the coming months to finalise the details of the agreement.
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