IMF commits to supporting Iraq and Lebanon

Kristalina Georgieva, the Managing Director of the International Monetary Fund, confirmed that the IMF intends to provide strong support to Iraq through financing and policy advice. Although Iraq has requested a borrowing program, the country has not disclosed any details regarding the loans or their conditions. She pointed out that Iraq has faced economic disruptions due to the repercussions of the war between the United States and Iran, with its foreign reserves declining by approximately $20 billion, and its oil revenues significantly affected. As a result, the government has had to borrow and seek increased revenues from non-oil sectors. The report also highlighted that Iraq is among the countries most affected by ongoing conflicts. Regarding Lebanon, Georgieva emphasized that progress has been made in financial reform negotiations, but additional steps are still needed to ensure financial sustainability and reconstruction, amid international calls for increased support to countries impacted by wars and rising energy prices.

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