FROM THE OFFICE OF PUBLIC AFFAIRS

September 30, 2004
JS-1969

Statement by Treasury Secretary John Snow after IMF Executive Board Approval of Emergency Post-Conflict Assistance for Iraq

I am very pleased that the Executive Board of the International Monetary Fund today has approved Emergency Post-Conflict Assistance (EPCA) for Iraq. This action by the IMF Executive Board is an important milestone in the international community's support for Iraq. The IMF's action today is based on Iraq's 2004-2005 economic program – a sound and credible monetary and fiscal program. The Iraqi Interim Government in its economic program has demonstrated the capacity and commitment to pursue an ambitious program to strengthen the economy and to build a better life for the Iraqi people. This action is an essential step on the way to resolve the Iraqi debt by the end of 2004 as agreed to by G8 leaders.