Iraq sought financial assistance from IMF as result of Iran war, source close to IMF says
Initial conversations took place last month during the spring meetings of the IMF and World Bank in Washington, and discussions are ongoing about how much funding Iraq would need and how any loan would be structured, the source said.
Iraqi officials have approached the International Monetary Fund about securing financial assistance as a result of the conflict in the Middle East, a source close to the IMF said today (14 May).
Initial conversations took place last month during the spring meetings of the IMF and World Bank in Washington, and discussions are ongoing about how much funding Iraq would need and how any loan would be structured, the source said.
The war that began on 28 February with a massive US-Israeli bombing campaign against Iran and triggered Tehran's closure of the Strait of Hormuz has rocked the entire Middle East, wreaking damage to infrastructure and economies.
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Iraq has been hard hit by the war, with most of its oil exports - which represent nearly all government income - cut off by the closure of the critical waterway, which previously carried about one-fifth of the world's crude oil.
