Iraqi officials approach the International Monetary Fund (IMF) to seek financial assistance linked to the economic impact of the conflict in the Middle East, according to a source close to the IMF, as reported by Reuters and echoed by Middle East Eye. The source says initial discussions take place last month during the IMF and World Bank spring meetings in Washington. Further talks are ongoing about the amount of funding Iraq would require and the structure of any potential loan.
Middle East Eye adds that Iraq faces significant strain from the war, including disruption to oil exports. It states that with the closure of the Strait of Hormuz, Iraq’s oil exports—described as nearly all government revenue—are largely cut off. The Reuters-cited information focuses on the outreach to the IMF and the early stage of negotiating the size and terms of assistance. The reports do not specify whether the IMF has agreed to provide funding or detail any final conditions.
