Saturday, August 04, 2007

IMF Renews Iraq Standby Arrangement§ion=0&article=99308&d=4&m=8&y=2007&pix=business.jpg&category=Business

Tang Li, Arab News

SINGAPORE, 4 August 2007 — Iraq’s government received a rare boost when the executive board of the International Monetary Fund (IMF) agreed to renew a standby arrangement that has been supporting its economic program. The standby arrangement in an amount equivalent to SDR475.36 million (about $727.4 million) which was approved on Dec. 23, 2005, will be extended through to Dec. 28, 2007. The Iraqi authorities request for the waivers of the non-observance of the structural performance criteria on the interim audit of the Central Bank of Iraq’s 2006 financial statements was approved by the Board.

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