Moody’s»: to maintain the classification of Iraq with a stable outlook

Dec 07, 2017

MANAMA: Moody’s Investors Service said it has maintained a stable outlook for Iraq with a stable outlook, adding that it has confirmed its long-term risk rating for foreign currency default at BN minus.
Three months ago, Standard & Poor’s affirmed its credit rating for Iraq at B / B minus with a stable outlook, but predicted that a reduction in oil production would affect economic growth in 2017.
Fitch expected Iraq’s oil production and exports to stabilize at high levels next year 2018.
The fall in crude prices since 2014 has had a major impact on the Iraqi economy.
Fitch said that Baghdad’s implementation of an agreement with the International Monetary Fund (IMF) on a three-year demand loan is going slower than planned.
In May 2016, Iraq agreed with the International Monetary Fund (IMF) to lend it $ 5.4 billion in an agreement that could then lead to additional $ 15 billion in international aid in the next three years.

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