Iraq : 2017 Article IV Consultation and Second Review under the Three-Year Stand-by Arrangement-and Requests for Waivers of Nonobservance and Applicability of Performance Criteria, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Iraq

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

August 9, 2017

Electronic Access:

Free Full Text (PDF file size is 2241 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Iraq is an oil-dependent and state-dominated fragile economy that has been hit hard by the conflict with ISIS and the fall in oil prices. The conflict has hurt the economy through displacement and impoverishment of millions of people, and destruction of infrastructure and assets. The oil price decline has resulted in a massive reduction in budget revenue, pushing the fiscal deficit to an unsustainable level. The authorities are responding to the crisis with ambitious but necessary fiscal adjustment while maintaining their commitment to the exchange rate peg, which provides a key nominal anchor in a highly uncertain environment.

Series:

Country Report No. 17/251

Subject:

English

Publication Date:

August 9, 2017

ISBN/ISSN:

9781484314944/1934-7685

Stock No:

1IRQEA2017001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

137

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