Iraq Clears Debt, Opens Way for Aid (IMF loans)

[Barrett808]

WASHINGTON (Reuters) - Iraq cleared around $81 million in debt it owed the International Monetary Fund late last week, fund sources said on Monday, opening the way for the first aid to flow from the global lender to Iraq.

The payment comes as the IMF's board of shareholder governments prepares to meet on Wednesday to discuss lending to Iraq, added the sources, who requested anonymity.

The sources said the IMF's board was expected to approve around $800 million in financing for Iraq under a program for countries beset by conflict. The assistance typically comes with less stringent economic policy conditions than regular IMF programs.

The emergency assistance helps countries with urgent balance of payments financing needs and is designed to be disbursed quickly and supported by policy advice, and in many cases, technical assistance.

(more)

http://news.yahoo.com/news?tmpl=story&u=/nm/20040927/bs_nm/economy_iraq_imf_dc_1

[gumby]

1. Isn't the IMF

the surest way to bankrupt a country and transfer all that country's assests to the Fat Cats?

[hadrons]

2. watch the DVD "Life & Debt" to learn how the IMF & World Bank loot

third world countries