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Iraq Holds Talks With IMF on Financial Support
Iraqi officials approached the International Monetary Fund last month for financial help following the U.S.-Israeli bombing campaign against Iran that began Feb. 28 and led to the closure of the Strait of Hormuz. The move comes as most of Iraq's oil exports, which account for nearly all government income, have been cut off.
May 14, 9:33 AM·1m read3 sources
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Iraqi officials approached the International Monetary Fund about securing financial assistance as a result of the conflict in the Middle East, a source close to the IMF said on Thursday. Initial conversations between Iraqi officials and the IMF took place last month during the spring meetings of the IMF and World Bank in Washington.
Discussions are ongoing about how much funding Iraq would need and how any loan would be structured, the source said.
-Israeli bombing campaign against Iran triggered Tehran's closure of the Strait of Hormuz. The conflict has caused damage to infrastructure and economies across the Middle East. Iraq has been hard hit by the war.
Most of Iraq's oil exports have been cut off by the closure of the Strait of Hormuz, which previously carried about one-fifth of the world's crude oil. Oil exports represent nearly all of Iraq's government income. The loss of that revenue has prompted Baghdad to seek external support from the IMF.
Andrea Shalal reported the story from Washington on May 14, 2026. C. A boy holding an Iraqi flag was photographed near the Iranian embassy in Baghdad on April 8, 2026, during a gathering that followed the announcement of a ceasefire between Iran and the United States.
