Iraq moves to borrow about $2 billion from US Treasury, lawmaker says

BAGHDAD, Iraq — Iraq's government has sent a draft bill to parliament seeking authorization to borrow approximately $2 billion from the US Treasury, a member of the Iraqi parliament's Finance Committee, Munthir al-Bayati, said. The lawmaker said the legislation is expected to complete the parliamentary approval process within the next week. Al-Bayati confirmed the loan amount and identified the US Treasury as the source of the financing. He said the bill would be placed on the parliamentary agenda in the coming days and reviewed quickly once added to the schedule. The government has not yet publicly commented on the draft. The borrowing request comes against the backdrop of Iraq's continued reliance on external financing to cover budget and spending needs. No further details on the terms, repayment schedule or guarantees tied to the proposed loan were immediately available.