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IMF commits support to Iraq
The International Monetary Fund has pledged financial support to Iraq following the Iraqi government’s request for a new financial program. This comes amid declining oil revenues due to the closure of the Strait of Hormuz and the potential impact of warfare on Iraq's economy. The IMF Managing Director, Kristalina Georgieva, confirmed that financial assistance and economic policies will be provided to Iraq, although the size of the funding and the type of program have not yet been specified. This move comes at a time when Iraq is suffering losses estimated at $60 billion since regional conflicts began and oil exports declined.
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