By: Ahmed Awad

The Iraqi government might be asking for an urgent aid from the International Monetary Fund (IMF), said finance minister Hoshair Zebari.

“Iraq is currently holding discussions with Citibank and Deutsche Bank concerning the $5 billion bonds that the country intends to issue,” the minister was quoted as saying on the sidelines of the joint annual meetings of the Arab Financial Institutions.

Iraq’s budget dropped by half as oil prices fell and the political scene is in turmoil, the minister noted, adding that the country is not facing bankruptcy but rather hard financial problems.

Translated by: Julian Nabil