Press Release No. 05/214

Press Release: Statement by IMF Managing Director Rodrigo de Rato on Iraq

September 23, 2005

Mr. Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement today after a meeting with Iraq Finance Minister Ali Allawi and Iraq Central Bank Governor Sinan al-Shabibi:

"Today I met with Minister Allawi and Governor Al-Shabibi to discuss relations with the Fund in the period ahead. We had productive discussions, and a good exchange of views.

"As I noted earlier, we approved a post-conflict program for Iraq last autumn, and we are working with the Iraqi authorities to move toward a Stand-By Arrangement when the post-conflict program ends. I expect a staff mission will start negotiating a Stand-By Arrangement, which could be brought to the IMF's Executive Board for approval by the end of the year if recent progress with reform is maintained."