Iraqi Kurdistan was once seen as a beacon of promise in the troubled country, but things have changed in recent years. Corruption and a disregard for rule of law are worrying for prospective international investors who are now avoiding Kurdistan, writes Dr. Joel Ruet. Iraq’s semi–autonomous Kurdistan Region, which was once seen as a beacon of prosperity and promise in the tr
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As part of its efforts to strengthen the Kurdistan Region of Iraq, the Kurdistan Regional Government (KRG) has endeavored to establish a diversified economy through Vision 2020 and Vision 2030. The KRG has undertaken numerous initiatives to achieve this significant objective, including administrative reform, digital transformation, agricultural development, banking system advan
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By outlining a strategy for the Mutually Beneficial Joint Development and Monetization of Gas Fields and Energy Resources in the North of Iraq, in partnership with the Kurdistan Region of Iraq, vision regarding reconciliation and a constructive settlement of differences between the Kurdistan Regional Government and the Federal Government of Iraq in relation to the management of
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Losses resulting from shutdown of conduit to Turkey estimated at more than $4 billion The once-thriving oil industry in the northern Kurdish region of Iraq has ground to a halt as the closure of the export pipeline to Turkey, now in its sixth month, continues, inflicting economic devastation. In late March, Turkey halted flows of oil produced in the region after an arbitrat
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According to the new budget, Erbil will now have to deliver no less than 400,000 barrels of oil per day to Baghdad before it can receive its share of the federal budget. [Getty] On June 21, 2023 Iraqi President Abdul Latif Rashid ratified the country’s long-awaited three-year federal budget bill. On June 11, the bulk of MPs had voted for a three-year budget bill of around 19
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