World Economy

Emergency Aid to Iraq

Emergency Aid to IraqEmergency Aid to Iraq

The International Monetary Fund (IMF) said it was preparing $833 million in emergency financial assistance to Iraq as the country battles the Islamic State insurgency, AFP reported. The IMF said a mission had agreed on the aid with the Iraqi government under the fund’s Rapid Financing Instrument program, subject to IMF management approval, which is likely to come in July. “The fund is ready to assist Iraq in its efforts to tackle the economic impact of the conflict with IS and the decline in global oil prices,” it said.