Iraq’s Biggest Loan Yet

Iraq is going to be given a $3.6 billion loan by the International Monetary Fund (IMF), which is the biggest loan Iraq has received so far. The money is aimed at helping Iraq “rebuild its battered infrastructure”. Iraq’s  income heavily relies on the revenue from oil. Iraq also needs the loans to rebuild after years of “conflict and insurgency”. From the depressed oil price, Iraq’s revenue has dramatically decreased. The IMF has loaned money to Iraq before, but smaller ones.

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