Finance Ministry receives $440m from Int’l Monetary Fund

[retirementafterrv]

June 9, 2010

Finance Ministry receives $440m from Int’l Monetary Fund

BAGHDAD, Iraqi Finance Ministry has received $440 million as a loan from the International Fund Monetary.

“The loan is processed according to an agreement between the two sides through which Iraq should get an amount of $3.6 billion in total from the International Fund Monetary,” the Iraqi ministry said in a release on Wednesday as received by Aswat al-Iraq news agency.

It noted that the received $440 million is the first dispatch of the total amount.

“Other dispatches are coming ahead this year,” the statement explained.

http://en.aswataliraq.info/?p=132976related articles ~

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[dbeck09]

I pretty new here can you tell me what this might mean ?

[Brandon2230]

I pretty new here can you tell me what this might mean ?

I'm pretty new too, but I'm going to take a shot in the dark, and guess that this can't be the best thing in the sense that they might be able to put off an RV for a little longer by using this money to pay existing loan payments. I might be wrong, but hopefully someone of the proper knowledge can shed light on this for us.

[Jac]

I'm pretty new too, but I'm going to take a shot in the dark, and guess that this can't be the best thing in the sense that they might be able to put off an RV for a little longer by using this money to pay existing loan payments. I might be wrong, but hopefully someone of the proper knowledge can shed light on this for us.

I mentioned this last month pointing out that this new IMF loan and other loan extensions could allow Iraq to delay RVagain. Surely I had hoped that I was wrong. Someone tell me I am wrong.