IMF Says Recognition of Iraq 'Imminent'
The International Monetary Fund said Thursday that its formal recognition of the new Iraq interim government is “imminent,” a step that will clear the way for badly needed financial support for Baghdad’s rebuilding effort. IMF spokesman Thomas Dawson said that recognition of Iraq’s new government would be made after consultation with key countries in the 184-nation international lending institution. That process should be completed “in the very near future,” he said, adding that “imminent is a fair characterization” of when it will occur. The decision by the IMF’s 24-member executive board would mean that Iraq could begin receiving new IMF and World Bank loans. At an international donor’s conference on Iraq last October, then-IMF Managing Director Horst Koehler indicated the IMF could supply between $2.5 billion to $4.25 billion to Iraq over the next three years.Full Story