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Iraq repays IMF $471 million loan ahead of schedule
Iraq repays $471 million loan to IMF on December 2007 instead of planned date in 2009.
Washington, 17 December 2007 (Middle East Online)
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Source: Middle East Online
Strauss-Kahn: Iraqi oil has a

***that's over 572 billion Dinar, it would be interesting to know what currency they paid in.***

Iraq has repaid a 471-million-dollar loan to the International Monetary Fund that was granted to the country in the wake of a US-led invasion which toppled former president Saddam Hussein, the IMF said Friday.

The Washington-based IMF said Iraq completed an early repayment of the loan on December 12.

"Iraq's ability to repay the IMF ahead of schedule reflects its strong international reserve position against a background of high oil prices," IMF managing director Dominique Strauss-Kahn said.

Iraq has some of the world's biggest oil reserves, but its oil exports have been hampered by occupation, war and sanctions in recent years.

Iraq repaid its IMF dues early ahead of requesting new loans from the IMF. The fund is due to discuss Iraq's lending requests on December 19.

The conflict-torn state had been due to finish repaying the 471 million dollars in 2009.

http://www.iraqupdates.com/p_articles.php/article/25166