The global credit rating agency downgrades due to Iraq’s sovereign Daash

Economy and Tenders

Since 04/09/2015 16:46 pm (Baghdad time)

Follow-up scales News

The credit rating agency Standard & Poor’s announced that it had classified “sovereign debt” for Iraq and awarded him the degree of “B-” because of the conflict with the terrorist organization Daash.

The agency said in a statement that “Iraq faces the risk of once again on the level of security institutions,” noting that these risks are “the highest among all sovereign countries being evaluated, especially because of its war with Daash terrorist organization.”

The Agency also alluded to “the budget and external pressures resulting therefrom because of lower oil prices in the second half of last year”, but the “S & P” indicated that Iraq has huge reserves and has substantial oil exports, thereby reducing the concerns in this area, so Agency attached to classify the prospect of a stable, saying that the country’s growth will remain steady in the medium term due to the significant rise in oil production, which will ease the budget pressure.

And fell “in oil prices by more than half since the month of June 2014, especially because of the large-scale production of the Organization of Petroleum Exporting Countries” OPEC “.anthy 29 / d 25

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