Iraq Business News brings you the latest Iraqi politics news, keeping you up to date with the latest information and developments.
By John Lee. President Haider Al-Abadi has congratulated Iran's government and people on the lifting of economic sanctions and the entry into force of the nuclear deal with the major powers. He added: "We look forward to this historic agreement contributing to the strengthening of security and stability and prosperity of the countries and peoples of […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's top Shia cleric Ali al Sistani has called on the government to curb the activities of armed groups. At least seven Sunni mosques were bombed in eastern Iraq earlier this week, allegedly […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices is causing a sharp deterioration of Iraq's fiscal position. The analysis finds that the budget deficit increased from 6 percent of GDP in 2014 to 15 percent of GDP in 2015 and a projected 10 percent of […]
Kurdistan Regional Government (KRG) officials contiued their visit to Washington this week with meetings with Administration and defense officials, as well as senators and media organizations. The visit comes as falling oil prices, the responsibility of 1.8 million displaced people, and the ongoing war against ISIS have put tremendous financial strain on the KRG and […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. No Vacancies: 7 Million Iraqi Govt Employees Fear For Their Jobs Locals employed by the government fear the financial crisis may see them lose their jobs. Nobody seems to be […]
By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]
The Managing Director of the International Monetary Fund (IMF) approved a Staff-Monitored Program (SMP) for Iraq covering the period of November 2015-December, 2016, on which the authorities and staff had reached ad-referendum agreement in November 2015 (see Press Release No. 15/509). Iraq is facing a double shock arising from ISIS attacks and the sharp drop […]
By John Lee. According to a report from the International Monetary Fund (IMF), the external outlook for Iraq has worsened since the latest Article IV consultation assessment (May-June), mainly owing to a further weakening of global oil prices. The analysis finds: "Lower capital spending on the back of falling oil revenue is expected to contract […]
By John Lee. Washington DC-based communications consultancy BGR Government Affairs LLC has reported that it has been actively lobbying in the United States on behalf of the Kurdistan Regional Government (KRG). In a statement made pursuant to the US’s Foreign Agents Registration Act (FARA), the company also confirmed that it had billed the KRG $150,000 for […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Which Iraqi had the most impact on their nation over the past 12 months? NIQASH editors and correspondents picked a few candidates - some obvious, some interesting - and invite […]
By John Lee. Iraq’s Ministry of Migration and Displacement has nominated a Kurdish Yazidi woman for the Nobel Peace Prize. Nadia Murad, aged 21, escaped from the Islamic State group (IS, ISIS, ISIL, Daesh) having being taken into sex slavery by the jihadist group. Since gaining freedom, she has addressed the United Nations Security Council […]
The World Bank expects the Iraqi economy to grow 3.1 percent in 2016, according its flagship "Global Economic Prospects" report released yesterday. This follows an estimated growth of 0.5 percent last year, driven by increased oil production. Growth rates of 7.1 percent and 6.5 percent are predicted for 2017 and 2018 respectively. These figures are […]
