Iraq has requested financial assistance from the International Monetary Fund in connection with the ongoing conflict in the Middle East, Reuters reported, citing an informed source.
Initial talks took place in April during the IMF and World Bank spring meetings in Washington. Discussions are ongoing regarding the amount of funding Iraq will need and the structure of any potential loan, the source noted.
Iraq holds the world's fifth-largest oil reserves, and its economy remains closely tied to oil exports.
The last financial agreement between Iraq and the IMF, a $3.8 billion standby arrangement, expired in the summer of 2019
