Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
The World Bank Group and the Government of Iraq signed two projects today totaling US$510 million to help the Iraqi people by improving living conditions, enhancing water supplies, and creating jobs. The two projects along with the ongoing US$750 million Emergency Operation for Development program and other planned commitments, will increase the World Bank’s total […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is hoping for more concrete pledges from international donors on the second day of a conference on rebuilding cities and infrastructure shattered by the conflict with ISIL (the Islamic State of Iraq […]
By John Lee. Iraq's National Investment Commission (NIC) has just announced the list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February. The 157 large- and medium-sized projects span all sectors of the Iraqi economy, including oil and gas, […]
Iran’s president called for stronger banking relations with Iraq to allow for a growth in the bilateral trade and economic cooperation. In a meeting with Iraq’s parliament speaker in Tehran on Tuesday, President Hassan Rouhani said expansion of economic and trade ties between the two neighbors hinges on enhanced baking relations. The central banks of […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago. The Iraqi Foreign Ministry said Dec. […]
By John Lee. Shares in Genel Energy closed the day up 5.9 percent on Wednesday, after the company's bondholders approved its proposal to reduce the outstanding bond debt from $421.8 million to $300 million. It will also extend maturity through amending and restating terms to a new 5 year tenor. DNB Markets and Pareto Securities […]
A top Kurdistan Regional Government delegation, headed by Prime Minister Nechirvan Barzani held an extensive meeting with the Kurdistan Parliament Deputy Speaker Jaafar Ebrahim Eminky and heads of Parliamentary Committees of Natural Resources, Industry, Energy, Financial and Legal Affairs. The KRG delegation included Deputy Prime Minister Qubad Talabani and a number of senior officials. In […]
The UN Security Council announced on Friday that all the measures imposed in its resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations in relation to the Iraq oil-for-food programme had been fully implemented. Unanimously adopting resolution 2390 (2017), the Council welcomed the fact that the remaining funds in the […]
By the end of the third quarter of 2017, UNDP’s Funding Facility for Stabilization (FFS) was undertaking 1,208 projects in 23 cities across five governorates in Iraq. Over one quarter of the projects were being implemented in the city of Mosul, which was fully liberated in July 2017. The liberation of all of Mosul marked […]
US Ambassador to Iraq Douglas Silliman (pictured) has joined other distinguished guests and speakers at the Iraq Banking and Investment Summit on December 2. The Ambassador spoke about the need to create economic opportunity for Iraq’s younger generation through a transition from a government-controlled, oil-based economy, toward a more diversified free market system that fosters […]
By John Lee. Following Iraq's successful return to the bond markets earlier this year, it is now reportedly planning a $2 billion sovereign bond issue in 2018. The Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq [Alak] (pictured), told Reuters that the plan is currently awaiting parliamentary approval. He added […]
The Iraqi authorities and the staff of the International Monetary Fund (IMF) continued discussions in Amman from November 17 to 21, 2017 on the third review of Iraq’s 36-month Stand-By Arrangement (SBA). The IMF Executive Board approved the SBA on July 7, 2016 (See Press Release No. 16/321), and completed the second review on August […]
