International Reserves in Iraq

Iraq International Reserves | Economic News & Forecasts

Iraq - International Reserves

The economy is in dire straits. Oil production was down sharply year-on-year in Q1 and, as part of April’s OPEC+ deal, Iraq has committed to reducing output substantially going forward. Moreover, oil prices are at historically low levels as Covid-19 hits demand. The combination of lower output and prices bodes poorly for the crucial energy sector and is crushing government revenues—roughly 90% of which come from oil. Compounding matters, domestic containment measures—although they have been eased in recent weeks—are hurting the non-oil sector and pose risks to social stability. In politics, following over five months of paralysis, intelligence chief Mustafa al-Kadhimi took office as prime minister in early May. While this reduces political uncertainty somewhat, institutional capacity is likely to remain weak and Parliament is still fractured, as evidenced by the initial rejection of several of Kadhimi’s ministerial picks.

Iraq - International Reserves Data

2015   2016   2017   2018   2019  
International Reserves (USD)50.9  42.0  45.6  60.8  -     

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Iraq International Reserves Chart

Iraq International Reserves
Note: International reserves in months of imports.
Source: World Bank and FocusEconomics calculations.

Iraq Facts

Value Change Date
Exchange Rate1,1940.0 %Jan 01

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