FIRST REVIEW OF THE THREE-YEAR STAND-BY ARRANGEMENT AND FINANCING ASSURANCES REVIEW, REQUESTS FOR WAIVERS OF NONOBSERVANCE AND APPLICABILITY OF PERFORMANCE CRITERIA, MODIFICATION OF PERFORMANCE CRITERIA, AND REPHASING OF THE ARRANGEMENT—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ The Staff Report prepared by a staff team of the IMF for the Exe
Read MoreThe Knights of Columbus are seeking to help Christians return to their homeland on the Nineveh Plain In 2014, the Islamic State removed hundreds of families of religious minorities from their homes in Karamdes, a mostly Christian town on the Ninevah Plain in Iraq. Just over two years later, the town, also known as Karemlash, was liberated. The Knights of Columbus will raise
Read MoreThe dilemma is that it needs money—and will inevitably lose some to corruption. On Sunday, Haider al-Abadi, the prime minister of Iraq, visited Mosul to herald the success of his army’s nine-month struggle to recapture the city from the Islamic State. In a speech on state television the next day, he declared “the end and the failure and the collapse of the terrorist state of
Read MoreThe economic and financial situation in Iraq remains ever challenging, but improving oil prices and the IMF’s Stand-By Arrangement could place the country in an upward trajectory. Incessantly damaged by geopolitical tensions, the Iraqi economy is one that is has endured profound challenges it its journey to recovery. A faint light can however be seen at the end of th
Read MoreDisparities in Regional Incomes and Spending: Spatial economic interdependence in Iraq. By Ali Merza
Introduction[1] Present-day division of Iraq into, more or less, three seemingly separate parts (Kurdistan plus Kirkuk, Baghdad-to-Basra, and the ‘Upper Middle’; Nenawa, Salahuldin, Diala, and Anbar) hides long-enduring economic/financial interdependence. The financial interdependence shows in the fact that oil-producing governorates have been increasingly ‘financing’ (thr
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