Tag Archives | Iraq Budget News

Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.

IMF Approves Payment of $825m to Iraq

The Executive Board of the International Monetary Fund (IMF) has completed the second review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about […]

Iraq to sell new USD Govt Bonds

By John Lee. The Financial Times reports that Iraq has appointed Citi, Deutsche Bank and JP Morgan as joint bookrunners for a new five-year government bond. The issue is described as a dollar-denominated, long-dated, benchmark-scale bond; investor meetings scheduled over the coming days. In January, Iraq raised $1 billion of five-year bonds, guaranteed by the US, […]

Economic Consequences post Mosul

By Ahmed Tabaqchali (pictured), CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. While Iraq’s war against terror is far from over, the conclusion of the Mosul offensive should mark the high point in the cost of […]

Iraq to Loosen Purse Strings?

By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: “In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]

Japan agrees $240m Loan to Iraqi Electricity Sector

By John Lee. Reuters reports that Japan has agreed to lend Iraq up to 27.2 billion yen ($240 million) to rebuild damaged electricity infrastructure, especially in areas recaptured from the Islamic State group (IS, ISIS, ISIL, Daesh). It also intends to approve another loan worth 21.5 billion yen to repair a thermal power station in […]

Iraq to Receive $1bn Loan from US

By John Lee. The Iraqi government has signed a one-billion-dollar loan with the United States to “[assist] Iraq to achieve victory in its battle against IS, and to realize economic reform”. Stephanie William, the U.S. Embassy’s Chargé d’Affaires and Fadhil Nabi, the Iraqi Deputy Minister of Finance signed the agreement in Baghdad on Thursday. The […]

Federal Budget Widens Political Conflict among Kurdish Forces

By Ibrahim Malazada for Al Monitor. Any opinions here are those of the author, and do not necessarily reflect the views of Iraq Business News.  On Dec. 14, the Kurdistan Regional Government (KRG) rejected the federal budget for 2017. The government’s statement read, “The budget does not serve the KRG,” and stressed its refusal to […]

World Bank Supports Iraq with $1.5bn Package

New US$1.485 Billion Package to Support Iraq’s Drive to Counter Cost of War, Low Oil Prices The World Bank Group has endorsed a new US$1.485 billion package to support reforms to improve public service delivery and transparency, stimulate private sector growth and support job creation. Iraq continues to face a large humanitarian crisis with 10 […]