Russia-aligned Iraq has awarded the development of a crucial gas field to a Ukrainian firm. The importance of the Akkas gas field for Russia, Iran, and China can barely be overstated. The Akkas field is one of three big gas sites that form a skewed triangle across southern Iraq. So strategically vital to Russia, Iran, and China is the Akkas gas field i
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China is seizing an opportunity in the Middle East to improve its energy security and global influence, with Iraq a particular beneficiary This push has its risks, though, and Beijing’s neutrality will face challenges in a region fraught with long-standing rivalries and competing interests Chinese firms recently won the lion’s share of licences for oil and gas exp
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Washington, DC – May 16, 2024: On May 13, 2024, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Iraq and considered and endorsed the staff appraisal. Domestic stability has improved since the new government took office in October 2022, facilitating the passage of Iraq’s first three-year budget, which entailed a large fisc
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Iraqi Prime Minister Mohammed Shia al-Sudani met last week with U.S. President Joe Biden at the White House as part of a weeklong visit aimed at strengthening bilateral relations. The visit occurred amid several historic anniversaries and dangerous developments in the Middle East. April marks the 21st anniversary of the toppling of Saddam Hussein. Since 2003, the U.S.-Iraq rela
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The Middle East and North Africa (MENA) region is expected to grow modestly in 2024, returning to the low growth that prevailed in the decade before the pandemic. In addition to examining the macroeconomic outlook of the region, this edition of the semi-annual MENA Economic Update, titled Conflict and Debt in the Middle East and North Africa, includes two special sections. The
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