IMF to recognise interim Iraq government soon

Filed on July 3, 2004

WASHINGTON - The IMF will formally recognise the interim Iraqi government within days, allowing financial assistance to flow once Baghdad pays its IMF debt, a spokesman said on Thursday. The International Monetary Fund could recognise Iraq following the UN Security Council resolution June 8 endorsing creation of the new government, IMF spokesman Thomas Dawson said.

Fund officials were speaking to member countries before making an official announcement in the "very near future," he said. "That does not mean I expect an announcement today. It is possible. It might be tomorrow. It might be a day or two after that," Dawson told a news briefing.

The World Bank, which is owed 100 million dollars by Iraq, said it had recognised the interim government on Tuesday. Iraq owes about $80 million to the IMF, and an emergency assistance programme could amount to as much as 850 million dollars, according to IMF estimates.

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