In Iraq, a multidimensional development and climate crisis is brewing. Iraq’s oil-dependent development model, weakening human and institutional capacity, and its deep social divides and inequalities are ingredients of a “perfect storm” centering on a development-climate-fragility nexus. A new World Bank Group diagnostic tool, the Country Climate and Development Report provides
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Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank December 2023 On December 12, the Iraq Economic Contact Group (IECG) held the final meeting of 2023, co-chaired by Italy and the United States. As friends and partners of Iraq, Canada, France, Germany, Italy, Japan, the European Union, the United Kingdom, the United States, and
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ERBIL, Kurdistan Region - The financial advisor to Iraq’s prime minister on Wednesday stressed the need for all internal transactions to be conducted using the Iraqi dinar, telling Rudaw that using anything other than the national currency is a disrespect to the state’s sovereignty. The Iraqi dinar has been losing value against the US dollar for several months, leading to a
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Shipping is one of many sectors where Iraq is still playing catch-up after decades of conflict. To this end, the Iraqi Oil Tankers Company (IOTC) recently added a new oil products tanker to its small fleet. Its vessels mostly operate within Iraqi waters, shuttling heavy fuel oil from two ports in the south of the country. The Sumer, a medium range ship with 31,000 deadwe
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Iraq’s climate is changing faster than people can adapt. With each passing summer, new records are logged: record high temperatures, record low water levels. Between May and October, the heat scorches all that is dead and sears everything that lives. During the day, the sun forces people inside; in the evening, the heat lingers in cities that feel like the inside of a hair d
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