Iraq Received $2 Billion from IMF and New Construction of CBI Building

The Iraqi parliamentary economic and investment commission issued a statement that Iraq will receive 2 billion U.S dollars from the International Fund. It has been assumed that this amount will be considered as a loan from the International Fund in order to financially support the Iraqi government. A member of the commission Najiba Najib said in a press statement that Iraqi government has received one billion 400 million U.S dollars as a loan from the International Monetary Fund in the past period. This amount was considered a part of total allocated loan for Iraq from the IMF. The total allocated loan amount is 5 billion 400 million U.S dollars and it will be delivered to Iraq periodically within 3 years. Najib further added that Iraq is bound by the agreement, financial and monetary decisions imposed by the International Monetary Fund. The Iraqi government is responsible in providing a detailed report on the funds and financial work of Iraqi banks with the International Fund.

Iraq Received $2 Billion from IMF and New Construction of CBI BuildingNajib also pointed out that upcoming months will experience the Iraqi receiving of 2 billion U.S dollars from the International Monetary Fund. She added that this amount will be provided to Iraqi government in order to financially support and overcome economic & financial crisis in the country. MP Nazim Al-Saadi expressed his feeling about a surprising construction of Iraqi Central Bank’s own building. The building cost is estimated at 850 million U.S dollars. He indicated that current building of CBI was spent on restoration with the estimated amount of 70 million U.S dollars. He said in a statement that Iraqi Central Bank surprised for construction of its own building worth 850 million U.S dollars. He pointed out that the amount for water, sewage and school projects had deadlocked due to the country has been experiencing critical financial crisis and construction of a new building by CBI will be a surprise.

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