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Oil-rich Iraq turns to the International Monetary Fund again

Iraq ·

The International Monetary Fund said it has begun talks with Iraqi authorities on a new lending program. The aim is to help Baghdad cope with financial pressures and address weaknesses in its economy, after the government requested support from the fund.

Iraq is a major oil exporter, and its public finances depend heavily on crude sales, which makes it vulnerable to price swings. Iraq has had several lending arrangements with the IMF in the past.

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