The ministry said the money will target "energy, economy, (fighting) extremism and education", with
The loan will carry a 2 percent interest rate.
The nuclear-armed nation of 180 million people relies on imported oil to run most of its electricity grid, but often cannot afford to pay for it, causing daily power cuts that have damaged many industries.
The country was facing a balance of payments crisis last year and had only enough cash for one month's worth of imports before the
Since then, Finance Minister
In February, Saudi Arabia gave
But money remains tight. The IMF loan is largely being spent on repaying a previous one from the Fund.
The first tranche of
Many legislators and some ministers evade tax, according to the
Social services and infrastructure are crumbling while politicians splurge on personal bodyguards, foreign trips, luxuries and land for their personal use.
Activists say rage at government corruption and neglect are fuelling two insurgencies. The
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