Foreign Investment: The Non-oil Revenue Source Iraq Needs to Ensure a Vibrant and Sustainable Economy . BY BASTA SIRWAN* Executive Summary: For Iraq, Foreign Direct Investment (FDI) could be the answer to fiscal improvements and increasing foreign currency reserve in the market. Global demand for oil export is expected to continue, thus exploiting high energy prices to m
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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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Two decades ago, the United States assisted the Iraqi people in overthrowing the dictatorial regime of Saddam Hussein and laying the foundations for a democratic system. It enabled Iraqis to taste freedom for the "first time, eliminating the oppression and the misuse of resources that had caused problems not only for my country but also for the region more broadly. Since the
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Iraqi Prime Minister Sudani's White House visit will discuss US forces in Iraq, sanctions, and bilateral relations. Amid pro-Iranian pressures, the visit seeks to balance diplomatic and economic interests with the US, highlighting the complex US-Iraq dynamics and regional geopolitical implications. Iraqi Prime Minister Mohamed Shia Sudani will lead a prominent delegation to
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SUMMARY Iraq’s Development Road project aims to create an Iraqi transborder transportation network connecting the Persian Gulf with Türkiye. This network would enhance Iraq’s geopolitical status as a trade corridor and provide financial returns, reducing the state’s reliance on hydrocarbons. However, the project faces obstacles, including challenges of financing and implemen
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