Iraq Business News brings you the latest Iraq budget news – including the Iraq investment budget, Iraq infrastructure projects and more.
By John Lee. A US State Department spokesperson has said that he expects the recent $1-billion loan guarantee provided by the United States to be shared with the Kurdistan Region. Mark Toner told a daily press briefing: "We believe it should be to the benefit of all Iraqis, and that includes the citizens or the […]
By John Lee. The Iraqi government has signed a one-billion-dollar loan with the United States to "[assist] Iraq to achieve victory in its battle against IS, and to realize economic reform". Stephanie William, the U.S. Embassy's Chargé d'Affaires and Fadhil Nabi, the Iraqi Deputy Minister of Finance signed the agreement in Baghdad on Thursday. The […]
By Ibrahim Malazada for Al Monitor. Any opinions here are those of the author, and do not necessarily reflect the views of Iraq Business News. On Dec. 14, the Kurdistan Regional Government (KRG) rejected the federal budget for 2017. The government’s statement read, “The budget does not serve the KRG,” and stressed its refusal to […]
New US$1.485 Billion Package to Support Iraq’s Drive to Counter Cost of War, Low Oil Prices The World Bank Group has endorsed a new US$1.485 billion package to support reforms to improve public service delivery and transparency, stimulate private sector growth and support job creation. Iraq continues to face a large humanitarian crisis with 10 […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Budget Law 2017 and OPEC Production Cut Impact - Preliminary Remarks On 7 December, the Iraqi Parliament passed Budget Law 2017 by a majority voting with 186 attendances, before the House went […]
IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption Significantly improving public financial management will be important The Executive Board of the International Monetary Fund (IMF) has completed the first review of Iraq’s three-year […]
By Sami-Joe Abboud for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's parliament will meet Dec. 1 to continue hashing out a draft of the 2017 general budget, which currently includes a deficit that will require the country to seek […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali al-Alak, has reportedly said that Iraq's foreign reserves have dropped to $50 billion. According to a report from Reuters, this is down from $59 billion at the end of October 2015. Prime Minister Haider al-Abadi has announced plans to narrow the public […]
By Omar Sattarfor Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. What's the status of IMF loan as Iraq dismisses finance minister? Prior to his dismissal Sept. 21, Iraqi Finance Minister Hoshyar Zebari ran successful negotiations with international banks to obtain […]
The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from August 28–September 10, 2016 on the first review of Iraq’s 36-month $5.3-billion Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016. Mr. Christian Josz, Mission Chief for Iraq, issued the following statement: “The Iraqi […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Falling oil prices over the past year has caused a cash crisis in oil producing countries, including Iraq. The fall in oil revenue has exacerbated a political disagreement between federal government leaders in […]
By John Lee. The Turkish company Karadeniz Holding has reportedly stopped supplying electricity from its three generating ships loctated in the ports of Khor al-Zubair, Umm Qasr and Abu Flous. Local media report that the move is due to the non-payment of debts to the company by the Iraqi Ministry of Electricity. The company had […]
