Economie | 03:37 – 26/02/2021
BAGHDAD – Mawazine News
, Minister of Finance, Abd Allawi, confirmed, on Friday, that Iraq internationally maintained its credit rating at B, with an emphasis on financial and economic stability, according to the international agency Standard and Poor’s S&P.
The media office of the Minister of Finance stated, in a statement received by Mawazine News, that “Allawi participated in a dialogue session to discuss the economic and financial developments and the credit rating of Iraq via video conference, which included experts and specialists from the ministries of finance and oil and representatives of the Central Bank.”
The statement added, “During the dialogue, they discussed the economic and financial developments and the credit rating of Iraq and the factors that contributed to maintaining the credit rating at -𝗕 degree and the emphasis on financial and economic stability, according to S&P Standard and Poor’s Agency.”
Allawi said, “The change in the exchange rate contributed to alleviating pressure on foreign reserves and strengthened the ability of the Ministry of Finance to provide local financing and recovering crude oil prices at the beginning of 2021 compared to what they were in 2020.
” The future outlook was also touched upon. The stability of the Iraqi economy that came to reflect the continuation of foreign currency reserves at a level that increases the external public debt service and Iraq’s ability to pay off its external debt obligations over the next (12) months. ”
It is worth noting that Standard & Poor’s S&P agency and since the outbreak of the Corona pandemic, It took decisions to reduce the rating from stable to negative for more than 80 cases around the world. Ended 6/29 n