Hoshyar Zebari. Photographer: Ahmad aL-Rubaye/AFP via Getty Images Iraq has reached a $5.4 billion, three-year loan agreement with the International Monetary Fund to help OPEC’s second-biggest producer repair public finances damaged by the plunge in oil prices and war with Islamic State militants. The agreement will help Iraq “get more from other financing entities,” Finance Minister Hoshyar Zebari told a news conference in Amman on Thursday. He said Iraq is facing “a very tough economic and financial crisis and this program will reduce the burden on us.” The accord, subject to the approval of the IMF Executive Board, will make Iraq the first major oil exporter to sign a financing program with the Washington-based lender. Central bank chief Ali al-Allaq said the interest rate on the loan won’t exceed 1.5 percent. Oil producers from Venezuela to Riyadh have slashed spending to counter the plunge in crude prices. For Iraq, […]