The International Monetary Fund approved a $1.24 billion emergency loan for Iraq Thursday, saying the country needs extra support in the face of the Islamic State insurgency and depressed oil prices.
"The twin shocks faced by Iraq from the ISIS (Islamic State) insurgency and the drop in global oil prices have severely widened the government deficit and caused a decline in international reserves," said IMF Deputy Managing Director Mitsuhiro Furusawa.
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Turkish soldier killed in Syria operation: armyMaintained and developed by Arabs Today Group SAL.
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All rights reserved to Arab Today Media Group 2021 ©
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