High oil prices help Iraq repay IMF debt early

Washington - High oil prices allowed Iraq to repay its debt to the International Monetary Fund more than a year early as it prepares to negotiate a fresh loan, the IMF said Friday. Iraq paid back some 471 million dollars in postwar aid approved by the IMF in September 2004, 18 months after the US-led invasion that toppled Saddam Hussein. Iraq's government had until 2009 to repay. Iraq made the final payment Wednesday, a week before Iraqi officials are slated to open talks with the IMF on the next aid injection. IMF head Dominique Strauss-Kahn praised Iraqi authorities for postwar economic reforms and said its early repayment reflected the government's strong international reserve position against a background of high oil prices.' © 2007 dpa - Deutsche Presse-Agentur

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High oil prices help Iraq repay IMF debt early

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