Economic Reform: The Need for Focus and Persistence

By Ali Al-Mawlawi, for the Italian Institute for International Political Studies (ISPI). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Economic Reform in Iraq: The Need for Focus and Persistence

Iraq is facing the biggest challenge to its economy since 2003.

Even during the vicious and costly conflict with ISIS, when oil prices plummeted and the government struggled to finance the war, the economic shock did not appear to be as insurmountable as it does today.

The COVID-19 epidemic in Iraq has shown no signs of abating and the IMF predicts that Iraq's economy will contract by 4.7% in 2020.

The most immediate challenge for the government is finding enough money to cover the country's basic running costs including schools, hospitals, public salaries and social welfare.

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2 Responses to Economic Reform: The Need for Focus and Persistence

  1. Lee Taylor 11th September 2020 at 11:22 #

    Iraq needs to re instate the value of their currency to today's standards. This would very much lessen the financial crisis they are going through.

  2. John Wilkerson 15th October 2020 at 14:56 #

    Appears Iraq still does not want to accept the fact that the only way out of their financial situation is to RV their currency