Iraqi Economists Network

Iraqi government, Honeywell discuss completing the Basra Refinery

Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, called on Honeywell to take part in the completion of the Basra Refinery. Al-Sudani’s remarks took place on Wednesday during a meeting with the President of Honeywell Energy and Sustainability Solutions (ESS), Ken West, and his accompanying delegation in Washington DC, according to a statement released by the Prime Minister’s Office (PMO).

Iraq signs MoUs with US firms including GE, Honeywell, Baker Hughes, and Mack Trucks

Baghdad (IraqiNews.com) – Under the auspices of the Iraqi Prime Minister, Mohammed Shia Al-Sudani, the Iraq Development Fund, Ministry of Oil, and Ministry of Electricity inked multiple Memoranda of Understanding (MoUs) with US corporations on Wednesday. According to a statement issued by the Prime Minister’s Office (PMO), the MoUs were inked during a ceremony hosted by the US Chamber of Commerce in Washington DC, where Iraqi private sector enterprises signed deals with US companies.

Iraqi PM tells US President that Iraq is shifting from a military alliance to economic ties with the US

Washington (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, met on Monday with the US President, Joe Biden, in the White House in the US capital, Washington DC. Al-Sudani stated that Iraq is attempting to transition from a military alliance to a comprehensive partnership with the United States, emphasizing the significance of his visit to Washington at this delicate juncture.

Abstract In 1979 Iraq was a net creditor to the world, due to its large oil reserves and lack of external debt. Fifteen years later, its government debt-to-GDP was over 1,000%. At the time of the U.S. invasion in 2003, Iraq was saddled with around $130 billion in external debt that needed to be restructured. How does a country incur so much debt, so fast, and how does it ge

The Iraq Economic Monitor provides an update on key economic developments and policies over the previous six months and presents findings from recent World Bank work on Iraq, placing them in a longer-term and global context and assessing the implications of these developments and other changes in policy regarding the outlook for Iraq. Its coverage ranges from the macro-economy

As Iraq inches toward the formation of a new government, the risks are stacking up for OPEC’s second-biggest crude producer. Beyond the country’s long-standing sectarian tensions, frayed relations with the Kurdish north, a bloated public wage bill and endemic corruption, new Prime Minister Mustafa Al-Kadhimi now has to grapple with a collapse in oil revenue and the fallout f

(1) The link below is for World Bank’s World Commodity Market Outlook April 2020. It was released on May 1. https://www.worldbank.org/en/research/commodity-markets (2) Its sections on energy, and oil in particular, including Box 1, pp 24-30, are very much worth reading. (3) It expects a price for oil (average of Brent, Dubai, and WTI) of $35/B for 2020 to rise to $42/B

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