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Iraq GDP didn't shrink as much as the IMF predicted
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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Iraq GDP didn't shrink as much as the IMF predicted
by Cascadian Sun Dec 28, 2014 10:47 pm
The International Monetary Fund has said Iraq's oil-dependent economy will contract 0.5pc this year due to the Islamic State insurgency.
IMF staff met with top Iraqi officials, including the finance chief and governor of the central bank, in Amman, Jordan, to discuss the country's recent economic development, the Islamic State insurgency and the decline in oil prices, the fund said in a statement.
"Iraq's GDP is expected to contract by about 0.5pc this year largely because of the economic effects of the ISIS insurgency," the head of the team, Carlo Sdralevich, said, using the initials of another name for the insurgent group.
However, the contraction is better than the IMF's forecast in October, when it estimated Iraq's gross domestic product would shrink 2.7pc this year.
IMF staff met with top Iraqi officials, including the finance chief and governor of the central bank, in Amman, Jordan, to discuss the country's recent economic development, the Islamic State insurgency and the decline in oil prices, the fund said in a statement.
"Iraq's GDP is expected to contract by about 0.5pc this year largely because of the economic effects of the ISIS insurgency," the head of the team, Carlo Sdralevich, said, using the initials of another name for the insurgent group.
However, the contraction is better than the IMF's forecast in October, when it estimated Iraq's gross domestic product would shrink 2.7pc this year.
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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