Macroeconomic Policy – Iraqi Economists Network

Gone with the Muhasasa: Iraq’s static budget process, and the loss of financial control

In-Depth Research & Reports by Ahmed Tabaqchali The Iraqi government plans to respond to the financial crises in the wake of the COVID-19 pandemic by addressing the root causes of Iraq’s vulnerability to external shocks. The government has laid out a plan, known as the White Paper, which aims to fix the fault lines of the economy and by extension, the political sys

Despite the Government of Iraq and the Kurdistan Regional Government (KRG) agreeing a deal over its 2021 budget on December 20, the road to parliamentary approval may be bumpy, market participants told Debtwire. “Parliament has yet to approve [the budget], there is significant opposition to the KRG provisions there and so the deal could be held up, delayed or not implemented

In his recent article “Iraq’s Government Investments: Between Ambitions and Stumbling,” Dr. Mudhr Mohammed Salih, former Deputy Governor of the Iraqi Central Bank and financial adviser of the Iraqi Government, fairly described the political and administrative dynamics that prevent investment in infrastructure; basically showing how endemic corruption, institutional limitations,

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

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