Iraqi Economists Network

EBRD set to decide on Iraq membership next month

The European Bank for Reconstruction and Development (EBRD) is assessing a request from Iraq to become a member of the multilateral financial institution, the bank’s acting president said on Monday. Iraq, an oil producer whose economy is suffering from the double blow of the coronavirus crisis and lower oil prices, could potentially receive funding to support its private sector if it joins. “Iraq’s membership will be decided by our board of governors at the annual meeting in three weeks from now,” said Jurgen Rigterink, the EBRD’s Acting President.

Iraq Falters in Push to Meet OPEC+ Quota as Crude Exports Rise

(Bloomberg) -- Iraq is exporting more crude so far in September than its daily average last month, seeming to put compliance with the country’s OPEC+ production limit further out of reach. A long-time laggard when it comes to reducing output by agreed amounts, Iraq already owes its partners in the producers’ group a level of cuts over and above its pledged target to make up for pumping too much in past months.

BP says the era of oil-demand growth is over

BP Plc said the relentless growth of oil demand is over, becoming the first super major to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most bullish scenario sees demand no better than broadly flat for the next two decades as the energy transition shifts the world away from fossil fuels.

Iraq to Offer First-Ever Barley Exports as Rains Yield Surplus

The government plans to start auctioning 700,000 tons of the grain next week and anticipates interest from Gulf Arab states, Jordan and countries in North Africa, agriculture ministry spokesman Hameed Al-Nayef said by phone. It’s setting a minimum price of $125 per ton. “The reason behind the barley surplus is the water reserve we had from last year,” Al-Nayef said. “This year we harvested 600,000 tons.”

Download PDF: Dream on hold - Despite a string of military successes, the Kurds are nowhere near independence PESHMERGA militiamen pile armchairs and sofas high on a removal van as they decamp from the dam above Mosul to the plain below. Mosul, Iraq’s second city and the nerve centre of Islamic State (IS), lies in their sights. Thanks to coalition arms, training and air powe

Iraq’s Kurds may be moving closer to statehood. But their progress towards democracy leaves much to be desired n the photo, Iraqi Kurdish policemen stand guard outside the United Nations offices in Erbil during a pro-independence demonstration on August 23, 2014. Photo credit: SAFIN HAMED/AFP/Getty Images “Independence and the right of self-determination is our sup

Since the overthrow of Saddam Hussein in 2003 and breakdown of the Iraqi state, ethno-sectarian partition has become a popular political mantra. The assumption is that a federal state based on three autonomous regions — Sunni Arab, Shiite Arab and Kurd — is the most realistic way to stabilize Iraq and keep its borders intact. This claim has revived alongside the devasta

BAGHDAD — The archaeological sites of Ur, Eridu and Uruk as well as the Iraqi marshlands are under consideration for UNESCO's World Heritage List. The decision will be made at the World Heritage Committee meeting to be held July 10-20 in Turkey, where the UNESCO member states will vote on adding new sites to World List. In anticipation of the event, President Fouad Masoum fo

The heir to the Saudi throne just pushed through a bold package of reforms designed to free the kingdom from oil addiction by 2030. Here’s why it could backfire, badly. The Saudi royal family has gambled its prestige on a bold economic reform plan, meant to revive an economy battered by sharply lower oil revenues. But the prescriptions of “Saudi Vision 2030” are fraught with

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