IMF preparing $833mln emergency funding to Iraq as it battles ISJune 6, 2015 - 18:22 AMT PanARMENIAN.Net - The International Monetary Fund it is preparing $833mln in emergency financial assistance to Iraq as the country battles the Islamic State insurgency, the Guardian reports. The IMF said a mission had agreed on the aid with the Iraqi government under the Fund’s rapid financing instrument program, subject to IMF management approval, which is likely to come in July. It said: “The fund is ready to assist Iraq in its efforts to tackle the economic impact of the conflict with Isis and the decline in global oil prices.” “The armed conflict continues to strain the country’s resources and has created a humanitarian tragedy, with an estimated three million internally displaced people. The violence has also caused extensive damage to infrastructure and private sector assets.” The IMF said the Iraq economy contracted 2.1% in 2014 “mainly because of the violence”, and might grow only 0.5% this year. Meanwhile, the crash in oil prices has hit hard the country’s foreign earnings and helped widen the government’s budget shortfall. Photo: Almanar Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |