Today, Thursday, Muthar Mohammed Saleh, the financial advisor to the Prime Minister, summarized the loans provided by the International Monetary Fund (IMF) to Iraq since 2003. He noted that the total amount did not exceed $8 billion and confirmed that these loans have been fully repaid. Saleh stated that "since 2003, the IMF has provided several loans to Iraq targeting macroeconomic stability and the implementation of financial reforms. Between 2003 and 2021, Iraq received multiple financial programs from the IMF, including emergency loans and relatively long-term financial assistance."
He pointed out that "in the early years after 2003, the fund provided significant support to Iraq through various programs, including the Stand-By Arrangement (SBA) and the Rapid Financing Instrument. For instance, in 2016, the IMF approved a Stand-By Arrangement (SBA) worth $5.34 billion to support economic reforms in Iraq, and Iraq received two-thirds of this amount, which was fully repaid over five years."
Saleh continued, stating, "In 2021, Iraq requested an emergency loan of $6 billion from the IMF, but this loan was not realized as it was not linked to any of the fund's programs at that time," noting that "the cooperation with the IMF aimed to support governmental reforms and address the economic crises resulting from the decline in oil prices, which were linked to balance of payments fluctuations and their effects on economic activity."
