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Moody's: Iraq's economy is exposed to great risks
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Moody's, a credit rating company, confirmed that Iraq's economy is highly vulnerable to any decline in oil prices, which constitute 90% of government revenues.
She confirmed in a report on the Iraqi economy, obtained by Al-Iqtisad News, that the government accounts are ambiguous and suffer from major shortcomings, as the non-oil sector is hampered by the lack.
She added that Iraq needs to reduce corruption and improve public finances, to confront fluctuations in oil prices, explaining that the government’s default on debts owed to the private sector is on the rise, causing investors huge losses.
She noted that hydrocarbon wealth is not fully exploited due to years of armed conflict, international sanctions, and insufficient investment.
She stressed that these factors, along with political risks, made us half of Iraq at CAA, especially since 40% of government debt is long-term local debt taken from the Central Bank and state-owned commercial banks.
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Added 10/11/2023 - 5:39 PM
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Moody's logo in New York. "Reuters"
Moody's logo in New York. "Reuters"
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Moody's, a credit rating company, confirmed that Iraq's economy is highly vulnerable to any decline in oil prices, which constitute 90% of government revenues.
She confirmed in a report on the Iraqi economy, obtained by Al-Iqtisad News, that the government accounts are ambiguous and suffer from major shortcomings, as the non-oil sector is hampered by the lack.
She added that Iraq needs to reduce corruption and improve public finances, to confront fluctuations in oil prices, explaining that the government’s default on debts owed to the private sector is on the rise, causing investors huge losses.
She noted that hydrocarbon wealth is not fully exploited due to years of armed conflict, international sanctions, and insufficient investment.
She stressed that these factors, along with political risks, made us half of Iraq at CAA, especially since 40% of government debt is long-term local debt taken from the Central Bank and state-owned commercial banks.
To download the file on the Iraqi economy, [You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
215 views
Added 10/11/2023 - 5:39 PM
[You must be registered and logged in to see this link.]
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