ISTANBUL Oct 3 A senior advisor to Iraq's
central bank said he was "not sure" that Iraq could meet IMF
conditions for a $5.5 billion loan, Emerging Markets magazine
reported on Saturday.
Iraq has said it is seeking a $5.5 billion IMF program over
18 months, which would be the largest IMF financing agreement
with the new Iraq administration. There have been two previous
IMF arrangements of less than $1 billion each.
Mudher Salim Kassim, senior advisor to the Iraqi central
bank, said it would take a long time for any agreement to be
reached with the IMF.
No IMF comment was immediately available.
"Iraq is still in transition," Kassim said.
"The security situation sometimes turns upside down, so it
is difficult to decide these things," Kassim said.
The country relies on oil exports for more than 95 percent
of state revenues and desperately needs funds to rebuild the
country after years of sectarian conflict and insurgency
triggered by the 2003 U.S. invasion.
The country is courting foreign investors and an IMF
programme would also give some credibility to the government's
(Reporting by Selcuk Gokoluk; Editing by Ruth Pitchford)