The IMF said in a statement on 25 March at the conclusion of discussions with Iraqi officials in ‘Amman that while Iraq had managed to maintain macro-economic stability in 2013, lower-than-expected oil export revenues and higher than budgeted spending had led to a rise in the deficit to 6% of GDP.

The deficit was financed through the DFI, which declined from over $18bn to $6.5bn over the course of the year, the IMF’s Mission Chief for Iraq, Carlo Sdralevich says in the statement. (CONTINUED - 280 WORDS)