Iraq: Request for Stand-By Arrangement

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 015

Publication date: January 2006

ISBN: 9781451819106

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , Public Finance , Industries - Energy , ISCR , CR , Iraq , export revenue , staff , government , price , IMF arrangement , due diligence session , oil export price movement , transition to a market economy , Iraq's commitment , government's approach , Oil prices , Oil , Oil sector , Oil exports

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Summary

This paper discusses Iraq’s request for Stand-By Arrangement for 15 months from December 2005 through March 2007, which they intend to treat as precautionary. The authorities’ policies have succeeded in promoting overall macroeconomic stability despite the extremely difficult security environment. Economic growth in 2005 is estimated at 2.6 percent, following the rebound of almost 50 percent recorded in 2004. Inflation pressures have moderated in 2005, though prices remain volatile. The medium-term outlook for Iraq is favorable, but subject to many risks.