The biggest threat to Iraq's future: A drop in oil prices

In simple terms, Iraq exports roughly 3.2 to 3.4 million barrels per day; a drop in oil prices of only one dollar per barrel would lose Iraq between 3.2 and 3.4 million dollars per day.

Peshraw Mirany

Opinion

Iraq pushes digital payments to cut loan costs and strengthen economy

Iraq is promoting the use of digital payment systems to reduce high loan costs and improve the economy, according to Iraqi Prime Minister’s Advisor Mazhar Muhammad Salih.

News

Iranian parliament sacks finance minister over deteriorating economy

Hemmati lost a vote of confidence in Iran’s parliament, where 182 out of 273 lawmakers voted to remove him from his post over the mismanagement of the country’s finances and inability to weather the financial woes

News

Iraq faces economic strain as OPEC+ maintains oil production cuts

Iraq remains bound by OPEC+ production limits, preventing it from increasing oil output despite its economic dependence on crude exports. While the country aims to boost growth, strict production caps have reduced its ability to capitalize on global demand. With production disruptions from a fire at Rumaila field and upcoming OPEC+ talks in April, Iraq rejects further cuts but struggles to influence the alliance's policies.

Articles

US lawmakers push for sanctions on Iraq’s Rafidain Bank over alleged Iran ties

The US is considering sanctions on Iraq’s state-owned Rafidain Bank, following allegations that it facilitates dollar transfers to Iran. Republican Congressman Joe Wilson has called on the US Treasury to take action, warning that Iraq is enabling Iranian-backed groups.

Features

Can the Kurdish economy survive without Baghdad?

Kurdistan’s view on business is more reflective of Western models, while Baghdad continues to attempt to operate on the failed central economy models of the past. The different philosophies have resulted in the Kurdistan Region being more stable

Paul Davis

Opinion

Iraq's economy in 2024: bold steps towards diversification, continued neglect of private sector

The year of achievements and setbacks: Was 2024 a year of accomplishments for Iraq's economy?

Articles

Iraq to tackle domestic, external debts amid economic challenges

The Iraqi government navigates a complex landscape of domestic and external debt, with internal obligations exceeding $45 billion and external debt significantly reduced to $8.9 billion. While external debt accounts for less than 30 percent of GDP, domestic debt presents a heavier burden tied to local financial institutions.

Articles

Iraq importing Indomie noodles worth $17 million in 2023 ‘surprised’ US officials: Expert

"Iraq imported from all border crossings except the Kurdistan Region about 64,185 tonnes of Indomie worth $17.7 million, equivalent to 23.6 billion dinars, during the year 2023,” said economic expert Nabil al-Marsoumi

News