Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

The Covid-19: The Iraqi government announces new measures to combat pandemic, additional support for health sector

The Covid-19: The Iraqi government announces new measures to combat pandemic, additional support for health sector

Iraq's Prime Minister Mustafa Al-Kadhimi chaired on Monday a meeting in Baghdad of the Higher Committee for Health and National Safety. At the start of the meeting, the Prime Minister told the Committee that the coronavirus pandemic challenge facing Iraq is unprecedented, and that this challenge has been exacerbated by cumulative past administrative failures. Following discussions, the Committee decided to:
Read More
Cabinet ends payment of two salaries to former detainees at Camp Rafha

Cabinet ends payment of two salaries to former detainees at Camp Rafha

Iraq’s Council of Ministers (the Cabinet) on Monday announced details of its decision taken at its regular weekly meeting on 09/06/2020 in relation to the payment of more than one salary and other benefits to former detainees at Camp Rafha. The decision ends the payment of more than one salary, restricts the payment to heads of household provided that they reside in Iraq, and limits the amount to no more than 1,000,000 Iraqi dinars per recipient. Here is the decision in full: The Council of Ministers Decree No. (27) for the year 2020
Read More
The Without urgent reform, Iraq economy will face irreparable shocks: minister to AFP

The Without urgent reform, Iraq economy will face irreparable shocks: minister to AFP

Iraq's economy could reach irreversible lows within the next year unless urgent reform measures are adopted, its finance minister warned in an exclusive interview with AFP on Monday. "Reform is inevitable," said Ali Allawi, who has been tasked with stabilising Iraq's economy following an oil price crash that saw state revenues slashed by half. "If we do not amend the situation throughout the next year, we may face shocks we cannot fix." Iraq's economy is already projected to shrink by 10 percent this year following a dramatic drop in oil prices from over $50 per barrel to around $20.
Read More
The Iraq to Slash Oil Exports by at Least 15 Perce

The Iraq to Slash Oil Exports by at Least 15 Perce

(Bloomberg) -- Iraq said it will cut oil exports by at least 15% this month to meet a production cap under an OPEC+ agreement that’s sparked a rally in crude prices. The second-biggest producer in the Organization of Petroleum Exporting Countries will ship about 2.8 million barrels of crude a day in June, Oil Minister Ihsan Abdul Jabbar said late Sunday on the Al-Sharqiya channel. While Jabbar did not specify if the figure excluded sales from the semi-autonomous Kurdish region, Baghdad officials usually leave those out of their forecasts.
Read More

The Empowering women in business in unstable time

By y Safa Fadhil, Head of Exploration and Sundus Abass, Gender Advisor at UNDP Iraq - June 21, 2020, 6:00 PM CDT   Iraq's This year marks the 20th anniversary of the UN Security Council (UNSCR) Resolution 1325, which helps to ensure women are on the frontlines of achieving stability and peace in Iraq. With this in mind, UNDP Iraq’s Accelerator Lab and Gender Division

Read More

The Iraq Considers A String Of Massive Oil Deals With China. By Simon Watkins

Iraq's With the Western-leaning, reformist agenda of Iran President, Hassan Rouhani, neutered by the unilateral withdrawal of the U.S. from the Joint Comprehensive Plan of Action in 2018, hardline groups led by the Islamic Revolutionary Guards Corps (IRGC) have been able to gradually recoup all of their previous power and influence, and more. The additional part has been a defi

Read More

AN OVERVIEW OF IRAQ’S FINANCES. BY MUHAMMAD AL-WAELI *

Deputy Prime Minister and Minister of Finance,  Ali Allawi held a brief press conference that painted a sobering picture about Iraq’s current financial situation. The presser came after an extraordinary cabinet meeting that debated Iraq’s strategy to face the current financial crisis and the measures to combat it, focusing largely on public sector reform and the development of

Read More

IMF: Regional Economic Outlook, Update with reference to Iraq-April 2020

Acknowledgments The Middle East and Central Asia Regional Economic Outlook (REO) Update is prepared each spring by the IMF’s Middle East and Central Asia Department (MCD). The analysis and projections contained in the REO are integral elements of the Department’s surveillance of economic developments and policies in member countries. It draws primarily on information gath

Read More

Permanent ‘zero interest rate’ for Iraq – A critical review ! By Dr Amer K. Hirmis *

1.              Introduction On May 19, 2020 Alaa al-Deen Ja’far (henceforth A. Ja’far) published an article entitled ‘Choice of zero ‘interest price’ to face the current deflation in Iraq.’ [1] Much of the article’s text comprises extracts from A. Ja'far’s 2011 book, [2] which is not included in the article’s references. The extracts are stated verbatim, with minor cosmetic

Read More

The Iraqi National Economy

Iraq Post Coronavirus: An Opportunity for Self-Reliance and
 This article discusses an optimistic and realistic proposal to minimise the overall
Read more.
Worlbank: Iraq Economic Report
The Iraq Economic Monitor provides an update on key economic developments and
Read more.
Will crashing oil prices mean the collapse of
Introduction Since the crash in Iraqi oil prices from US$61.0 (per barrel)
Read more.
Read More

Oil & Gas Policy

The Iraq Considers A String Of Massive Oil
Iraq’s With the Western-leaning, reformist agenda of Iran President, Hassan Rouhani, neutered
Read more.
Oil: Brokered or Broken? By Alastair Newton
Last weekend’s agreement notwithstanding, international cooperation over oil output stands to be
Read more.
China Prepares To Close ‘Oil Deal Of A
Over the past week or so, China has eased quarantine measures in
Read more.
The Soleimani Effect: A Game-Changer for Iraqi Crude
The changing geopolitical landscape for Iraq’s energy sector   Much ink has
Read more.
Read More