Despite the Government of Iraq and the Kurdistan Regional Government (KRG) agreeing a deal over its 2021 budget on December 20, the road to parliamentary approval may be bumpy, market participants told Debtwire. “Parliament has yet to approve [the budget], there is significant opposition to the KRG provisions there and so the deal could be held up, delayed or not implemented
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On October 10, the government of Iraqi Prime Minister Mustafa al-Kadhimi issued a White Paper to reform Iraq’s economy. The energy sector’s future has taken considerable space in the blueprint alongside the country’s increasing demand for electricity. The paper lists the Iraqi government’s plan for the next three to five years, with an effort to satisfy the gap between demand a
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Iraq’s economy has imploded. As the Organization of Petroleum Exporting Countries’ (OPEC) second largest producer and the world’s sixth largest oil producer, Iraq is facing major liquidity challenges that have resulted in delays in government employee and retiree salaries and an almost complete halt in government public investment. On top of this, COVID-19 has dealt a decisiv
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By Farhad Alaaldin, Kenneth M. Pollack A new Iraq crisis is the last thing that U.S. President-elect Joe Biden needs. Unfortunately, it may be the first foreign-policy problem he has to face. Iraq is headed for a financial collapse, and in its current fragile state, fiscal ruin is likely to bring down its rickety political system, which could then ignite yet another round
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CALL FOR PROPOSALS The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is a federal enterprise with worldwide operations. GIZ supports the German Government in the field of international cooperation for sustainable development. GIZ is also engaged in international education activities around the globe. Through our work we assist people and societies i
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