Authors: Andrés Arauz, Rami Kiwan, Nihal El Aasar, Mohamed El Dahshan, Barik Schuber In 2021, the IMF issued and distributed $650bn worth of Special Drawing Rights (SDRs) during the COVID-19 pandemic. This study explores the unique characteristics of SDRs and provides an overview of the role of SDRs in the MENA region. Using four countries as case studies (Egypt, Iraq, Leban
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With the rollout of new controls developed by the US Federal Reserve in collaboration with the Central Bank of Iraq to combat currency smuggling, the dollar exchange rate continued to rise in the Iraqi market, pushing up the prices of food and other essential items. The Central Bank of Iraq has asserted that the rise in the dollar-to-dinar exchange rate is a pass
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As global oil prices soar, smugglers are exploiting the lucrative profit margin between Iraq’s subsidized fuel and black-market rates elsewhere. Smugglers move the country’s oil to and through the contested Kurdish region, exacerbating nationwide shortages and depriving the state of much-needed income. These illicit oil flows are also funding Iranian-backed militias, creating b
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Iraqi Prime Minister Mohammed Shia’ al-Sudani, who was sworn in on October 27, 2022, has nearly completed the first 100 days of his tenure. In this short period, he has shown himself to be an energetic and shrewd politician, balancing his commitments to Iran-friendly forces in Iraq while also maintaining good relations with Arab neighbors and the United States. His political su
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