Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil. The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its 42 million people to adapt. The noise o
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Introduction Economic cooperation aimed at gradual integration between Iraq and other Arab countries is highly desirable from Iraq’s perspective. In 2021, the leaders of Iraq, Egypt, and Jordan held their fourth summit in Bagdad to further the new endeavor for economic cooperation and integration, the ABC Agreement. This section of the report evaluates the new initiative
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The rejection of Russia has led the Middle Eastern country to emerge as the main alternative for obtaining the resource Jorge Ortiz Iraq continues to reach record oil sales figures. The country, for the fourth consecutive month, has become the world's main market for the precious resource and is causing the country to improve its economic level. According to the Ministry
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reviews the history of China’s economic engagement with Iraq and contributions to its post-invasion reconstruction by producing more oil and building cost-effective infrastructure, boosted by a recent “oil for reconstruction deal”. It will also try to debunk some popular myths about Chinese-Iraqi cooperation that refer to China filling a vacuum left behind by the West or being
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BAGHDAD, June 16, 2022 - Iraq is gradually emerging from a deep recession, caused by the COVID-19 pandemic and the plunge in oil prices in 2020. Although the economy is projected to grow by 5.4% on average a year between 2022 and 2024, the country’s macroeconomic outlook is subject to a significant degree of risk due to high dependence on oil, budget rigidities, and delays in t
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