21 Hrs
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عربي21
Iraq's Risk of Bankruptcy
The article discusses Iraq's challenging economic and financial situation, highlighting the country's risk of bankruptcy due to the state's inability to meet its financial obligations. The figures indicate a deterioration in the Central Bank's foreign reserves, which declined from $101.082 billion in January 2026 to roughly $80 billion currently, accompanied by a significant drop in oil exports and the economy's dependence solely on oil revenues. Iraq is also facing rising internal and external debts, with domestic debt reaching $69.1 billion by the end of 2025, in addition to contractor debts that may exceed $31 billion, and external debts amounting to $54.1 billion. The crisis is expected to worsen if current policies persist, with potential escalation of the financial and economic crisis. Addressing these issues will require unconventional solutions, such as reducing employee salaries through government bonds and avoiding U.S. sanctions that could hinder access to international loans.
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