Besides bankruptcies and business grinding to a halt, local police have also reported a number of suicides, both successful and attempted, of local businessmen.
Meanwhile the Prime Minister of Iraqi Kurdistan, Nechirvan Barzani, has said he believes the financial crisis will be over soon, by early next year at the latest.
“We are waiting for the new Iraqi government to transfer the region’s share of the budget,” the official spokesperson for the Iraqi Kurdish Ministry of Finance, Dler Tariq, told NIQASH. “But we don’t yet know if the money they’re going to transfer will cover salaries.”
Tariq also said that he was optimistic and felt that the financial blockade couldn’t continue forever – but he was unable to give any kind of date either.
According to information from within Iraqi Kurdistan’s political scene, the financial blockade was one of the main reasons that Iraqi Kurdish politicians decided they would participate in the new government in Baghdad that is headed by Haider al-Abadi. Apparently those who attended a crucial meeting on Sept. 8, during which local politicians decided whether or not they would return to Baghdad, Iraqi Kurdish Prime Minister Nechirvan Barzani was asked if it was possible for Iraqi Kurdistan to make the regional budget without going back to Baghdad. His answer: no.
And apparently this was one of the major reasons the Iraqi Kurdish decided to remain part of the new Iraqi government.