Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

Iraqi Ambassador Hopes for Greater Economic Cooperation

On April 13, the Atlantic Council held a discussion with Fareed Yasseen, Iraq’s ambassador to the United States, in which he discussed the current state of American-Iraqi relations as well as domestic issues within Iraq.  Noting the declining U.S. military presence in Iraq, the ambassador believes his country’s forces are becoming self-sufficient. “We can contemplate…a day when they’ll be entirely capable of taking care of our security situation on their own and be a force for the stability of the region,” Yasseen said. 
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UNCTAD and Iraq sign deal to modernize customs procedures

The ASYCUDA system is expected to be a game-changer in customs processing in Iraq and improve ease of doing business in the country. UNCTAD and Iraq signed an agreement on 27 May to help the country modernize and automate its customs procedures. Acting UNCTAD head Isabelle Durant and Iraq’s finance minister Ali Abdul Ameer Allawi inked the deal to implement a project that will promote trade and development in Iraq. “The agreement that we are signing today signals the beginning of one of the most ambitious projects in the region,” Ms. Durant said.
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Iraq looks to new pier to boost oil product imports, exports

Iraq is building a new oil pier off its southern coast, financed by Japan, that’s expected to boost exports and imports of crude-derived products and increase revenue, officials said. The construction within the port of Khor Al-Zubair — Iraq’s main fuel export and import facility — is over 70 percent complete and should be finished this year, said Farhan Fartousi, the director-general of the General Company for Ports in Iraq, a state company responsible for Iraq’s southern ports.
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Fear of Powerful Politicians Causes ‘Corruption That Slows the Economy,’ Iraq’s Oil Minister Says

Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail blames indecision and delays in the ministry on fear of powerful lawmakers whose interests are not served, the Associated Press reported. "This is the culture: To stay away from any case, to stay away from inspectors, to say, 'Let us not do it.' I think this is the corruption that slows the economy," he told the AP.
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Climate fight is key to revitalising Iraq. By Barham Saleh*

Iraq has been buffeted by ill-winds over the past 40 years. Wars, sanctions, terrorism and domestic conflict have threatened its stability and the well-being of its citizens. But by far the most serious long-term threat the country faces is from the potential economic impact and environmental devastation of climate change. According to the UN Environment Programme, Iraq is t

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Iraq: Standing at a Crossroad with Limited Fixes to an Economy that is Desperate for Transformation. World Bank Press Release

Baghdad, May 27, 2021 – Oil price volatility and COVID-19 have increased Iraq’s economic woes and deepened existing economic and social fragilities. With global oil markets trends turning positive, the outlook for Iraq is set to improve. The new edition of the Iraq Economic Monitor for Spring 2021 titled “Seizing the Opportunity for Reforms and Managing Volatility” expects t

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The Iraqi National Economy

Iraq: Standing at a Crossroad with Limited Fixes
Baghdad, May 27, 2021 – Oil price volatility and COVID-19 have increased Iraq’s
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Iraqi diaspora mobilization and the future development of
Iraqi diaspora mobilization and the future development of Iraq – authored by
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Is there a population growth problem in Iraq?
This paper aims to show that Iraq’s high population growth is posing
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Oil & Gas Policy

Bloomberg’s Report Is Insubstantial and Iraq Doesn’t Need
A recent Bloomberg news report entitled Iraq Aims to Go Nuclear to
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Iraq Moves To Exploit Its Massive Natural Gas
Official estimates are that Iraq’s proven reserves of conventional natural gas amount
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OPEC launches 2020 edition of the World Oil
The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna,
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BP says the era of oil-demand growth is
BP Plc said the relentless growth of oil demand is over, becoming
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