Iraqi Economists Network

EBRD set to decide on Iraq membership next month

The European Bank for Reconstruction and Development (EBRD) is assessing a request from Iraq to become a member of the multilateral financial institution, the bank’s acting president said on Monday. Iraq, an oil producer whose economy is suffering from the double blow of the coronavirus crisis and lower oil prices, could potentially receive funding to support its private sector if it joins. “Iraq’s membership will be decided by our board of governors at the annual meeting in three weeks from now,” said Jurgen Rigterink, the EBRD’s Acting President. Set up in 1991 to help ex-communist countries of eastern Europe shift to market economies, the EBRD has widened its geographic scope in recent years to countries including Egypt, Tunisia and Morocco.

Iraq Falters in Push to Meet OPEC+ Quota as Crude Exports Rise

(Bloomberg) -- Iraq is exporting more crude so far in September than its daily average last month, seeming to put compliance with the country’s OPEC+ production limit further out of reach. A long-time laggard when it comes to reducing output by agreed amounts, Iraq already owes its partners in the producers’ group a level of cuts over and above its pledged target to make up for pumping too much in past months.

BP says the era of oil-demand growth is over

BP Plc said the relentless growth of oil demand is over, becoming the first super major to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most bullish scenario sees demand no better than broadly flat for the next two decades as the energy transition shifts the world away from fossil fuels.

Iraq to Offer First-Ever Barley Exports as Rains Yield Surplus

The government plans to start auctioning 700,000 tons of the grain next week and anticipates interest from Gulf Arab states, Jordan and countries in North Africa, agriculture ministry spokesman Hameed Al-Nayef said by phone. It’s setting a minimum price of $125 per ton. “The reason behind the barley surplus is the water reserve we had from last year,” Al-Nayef said. “This year we harvested 600,000 tons.”

As technocrats increasingly fill key government roles, U.S. officials need to help Baghdad withstand the inevitable counterpunch from political and militia factions used to dictating such appointments. On September 14, Baghdad announced a range of strategic leadership appointments for institutions tasked with overseeing Iraq’s economy, borders, and anti-corruption effo

To strengthen Iraq’s capacity for resisting militia and foreign influence, Washington should keep supporting the campaign to remake the military one commander at a time. On September 13, Iraqi Shia leader Grand Ayatollah Ali al-Sistani issued a statement calling on the government to ensure fair elections in 2021, secure the country’s borders, establish state control

EXECUTIVE SUMMARY As Iraq emerges from nearly four years of conflict and displacement, the security context remains unstable in many parts of the country. The COVID-19 outbreak in early 2020 brought fresh challenges, including closed borders, curfews and restrictions on movement. Forecasts predict a negative impact on livelihoods and employment, with the economy expected to

The economy of Iraq is mostly oil-dependent as oil revenues contribute to over two-thirds of the GDP and nearly most of the exports and government revenues. Investment in the oil sector has reached 66% of the total expenditure investment in 2017. The GDP of Iraq in 2019 has reached USD 234.09 Billion with an annual growth of 4.401%. The unemployment rate is 10.26% in men while

Ahead of our forthcoming second report on Iraq’s water resources, we spoke with Eckart Woertz, Director at the GIGA Institute of Middle East Studies and Professor for contemporary history and politics of the Middle East at the University of Hamburg. In 2014, Dr. Woertz published Oil for Food: The Global Food Crisis and the Middle East. A detailed analysis of the political ec

Latest Economy News

Latest Publication

The Iraqi National Economy

Oil & Gas Policy

Books Library

Video Gallery