Price Hikes follow Iraqi Dinar Devaluation
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Price hikes at Sulaimani market following dinar devaluation Traders in Sulaymaniya (Slemani) say the devaluation of the Iraqi dinar is driving up prices for local shoppers. Click here to read the full story. (Picture […]
COVID: Iraq Closes Land Borders, Restaurants
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq closes land borders, restaurants with new anti-virus measures The Iraqi government announced a series of strict measures to combat COVID-19 on Tuesday. All land border crossings, restaurants and malls will […]
Iraq's Cabinet approves Draft Budget
By John Lee. The Iraqi cabinet has approved the draft budget for 2021. According to Reuters, the budget of 150 trillion Iraqi dinars ($103 billion) is based on an oil price of $42 per barrel, and will result in a deficit of 63 trillion dinars ($43 billion). Rudaw puts the deficit at 58 trillion dinar […]
Iraqis Protest against Dinar Devaluation
By John Lee. Rudaw reports that hundreds of people protested in Baghdad's Tahrir Square demanding that the government reverse its decision to devalue of the Iraqi dinar against the US dollar. According to The Arab Weekly, the devaluation sparked panic across the country, as people rushed to buy dollars or stock up in supermarkets before […]
IMF Recommendations on Iraq
From the International Monetary Fund (IMF): IMF Staff Completes 2020 Article IV Mission with Iraq End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the […]
Iraq's Economic Collapse: Biden's First Foreign-Policy Headache?
By Farhad Alaaldin and Kenneth M. Pollack, for Foreign Policy. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's Economic Collapse Could Be Biden's First Foreign-Policy Headache If the Iraqi government fails to pay state workers' salaries in January, it could lead to […]
Despite PM's Promises, Disappearances Continue in Iraq
By Belkis Wille, for Human Rights Watch (HRW). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Despite Prime Minister's Promises, Disappearances Continue in Iraq Since I started covering Iraq for Human Rights Watch in 2016, enforced disappearances have been one of my main areas […]
Iraqi Refineries: Continued Misalignment amid Investment Illusion
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Refining Industry - Continued Misalignment amid Investment Illusion More than fifteen years ago a new refinery-specific law was promulgated and then the Ministry of Oil-MoO paid millions of dollars for commissioned […]
Iraq Dinar Devalued by approx 20%
By John Lee. Iraq has reportedly devalued its currency by about 20 percent against the dollar. According to Bloomberg and The Arab Weekly, the Central Bank of Iraq (CBI) has reduced the official rate to 1,450 dinar per US dollar. The previous official rate was 1,182 dinar to the dollar. Reuters adds that the decision […]
Khor Mor Gas Plant reaches Record Production
Dana Gas has announced the production of sales gas from Pearl Petroleum's Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a new record level of 430MMscf/d on 15 December 2020. Fourth quarter's average gas production as of 15 December 2020 is 400MMscf/d, an 8% increase on Q4 2019's average production of […]
Iraq Finalises Oil Exports for November
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October. These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while […]
Egypt, Iraq deepen Defense Ties
By George Mikhail for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Egypt, Iraq deepen Defense Ties Egypt and Iraq are expanding defense industry ties in a sign of deepening engagement among Cairo, Baghdad and Amman. Click here to read the […]