Iraq's first Article IV for 25 years

The IMF has issued its first Article IV report on Iraq in 25 years. It reports that economic activity in Iraq has grown significantly in 2004, but that inflation has also been higher than expected at 37% for the year to June, compared with estimates of 15% for 2005.

The staff report commends Iraq's authorities "for having achieved and maintained a degree of macroeconomic stability, and initiated some structural reforms, despite extremely difficult circumstances." However, it voices concerns

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