Iraqi officials have approached the International Monetary Fund for financial assistance amid the impact of the ongoing conflict in the Middle East, a source close to the IMF told Reuters.
According to the source, preliminary discussions took place last month in Washington during the IMF and World Bank spring meetings. Talks are currently continuing over how much financing Iraq will require and under what conditions the loan could be granted.
The war against Iran launched by the United States and Israel on February 28 has dealt a major blow to the entire region. Iraq has been particularly affected by the developments, as much of the country’s oil exports – the main source of state revenue – have been reduced due to the closure of the Strait of Hormuz, a key global shipping route.
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