Iraq : 2013 Article IV Consultation

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

July 19, 2013

Electronic Access:

Free Full Text (PDF file size is 1294 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This staff report on Iraq’s 2013 Article IV Consultation highlights economic policies and development. Risks to the macroeconomic outlook remain high. The risks can translate into lower oil revenues, deterioration in the fiscal position, pressures to use Central Bank of Iraq reserves for fiscal purposes leading to depreciation pressures, and higher inflation. Policies to mitigate their impact include strengthening fiscal institutions and oil revenue management, improving monetary policy transmission, and reducing the economy’s dependence on the oil sector. The authorities depend solely on fiscal policy to address these vulnerabilities, underscoring the need for the authorities to urgently build up sufficient fiscal buffers, since Iraq’s fiscal and external performance is very sensitive to fluctuations in oil prices.

Series:

Country Report No. 13/217

Subject:

Notes:

Also Available in Arabic

English

Publication Date:

July 19, 2013

ISBN/ISSN:

9781475538908/1934-7685

Stock No:

1IRQEA2013001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

59

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