{"id":114815,"date":"2026-05-15T06:49:19","date_gmt":"2026-05-15T06:49:19","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/114815\/"},"modified":"2026-05-15T06:49:19","modified_gmt":"2026-05-15T06:49:19","slug":"exclusive-iraq-seeking-financial-assistance-from-imf-world-bank-as-result-of-iran-war","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/114815\/","title":{"rendered":"Exclusive-Iraq Seeking Financial Assistance From IMF, World Bank as Result of Iran War"},"content":{"rendered":"

By Andrea Shalal and Muayad Hameed Suadi<\/p>\n

WASHINGTON\/BAGHDAD, May 14 (Reuters) – \u2060Iraqi \u2060officials have approached the International Monetary \u2060Fund about securing financial assistance as a result of the conflict in \u200bthe Middle East, a source close to the IMF and an Iraqi government official said on Thursday.<\/p>\n

Initial conversations took \u200cplace during last month’s spring meetings \u200cof the IMF and World Bank in Washington, and discussions are ongoing about how much funding Iraq \u2060would need \u2060and how any loan would be structured, the source close to the IMF \u200bsaid.<\/p>\n

An Iraqi official advising on financial policy said Iraq is in preliminary discussions with the IMF and World Bank over a loan to finance the country’s budget, given a sharp revenue shortfall caused by halted oil exports following \u200bthe Iran war and the closure of the Strait of Hormuz.<\/p>\n

The official said the talks were \u2060expected to \u2060be finalized once a new \u2060government is \u200bin place.\u00a0<\/p>\n

The war that began on February 28 with a massive U.S.-Israeli bombing campaign against Iran and \u200btriggered Tehran’s closure of the \u2060Strait of Hormuz has rocked the entire Middle East, wreaking damage on infrastructure and economies.<\/p>\n

Iraq has been hard hit by the war, with most of its oil exports – which represent nearly all government income – cut off by the closure of the critical waterway, which previously carried about one-fifth of the world’s crude oil.<\/p>\n

IMF \u2060spokeswoman Julie Kozack said the IMF was working with the World Bank and the International \u2060Energy Agency to assess the impact of the war on member countries. She said the Fund was also engaged in active discussions with its members, many of whom were seeking policy advice.\u00a0<\/p>\n

She noted that IMF Managing Director Kristalina Georgieva had said the IMF could see demand from at least 12 countries for $20 billion to $50 billion, but declined to give any details on which countries had requested help.<\/p>\n

The World Bank said it generally does not comment on shareholder discussions prior to board approval.<\/p>\n

Iraq has the world’s fifth-largest petroleum reserves, and the economy is \u2060closely tied to oil exports.\u00a0<\/p>\n

Iraq’s last financial deal with the IMF was a $3.8 billion standby arrangement that expired in July 2019, of which $1.49 billion was drawn, according to the IMF’s website.<\/p>\n

Iraq owes the global lender $2.39 billion, including some $891 million provided under a rapid financing instrument, the \u200bwebsite shows.<\/p>\n

(Reporting by Andrea Shalal in Washington and Muayad Hameed Suadi in Baghdad, Editing \u200bby Louise Heavens, Chizu Nomiyama and William Maclean)<\/p>\n

Copyright 2026 Thomson Reuters.<\/p>\n

Photos You Should See \u2013 April 2026<\/p>\n

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