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Ministry of Finance: Iraq internationally maintains its credit rating

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Ministry of Finance: Iraq internationally maintains its credit rating Empty Ministry of Finance: Iraq internationally maintains its credit rating

Post by RamblerNash Sun Feb 28, 2021 9:38 pm

Ministry of Finance: Iraq internationally maintains its credit rating Cynorofxeaeihef-1--1

Ministry of Finance: Iraq internationally maintains its credit rating 2c1499f6-8309-4a14-9f1b-dc1188d1eb67
02/26/2021 15:18:55
 
{Baghdad: Al Furat News} The Ministry of Finance announced, today, Friday, that Iraq has maintained its global credit rating at {-B} with an emphasis on financial and economic stability, according to the international agency, Standard and Poor's {S&P}.

A statement of the ministry, of which the Euphrates News Agency received a copy, stated that "the Minister of Finance, Ali 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."

He added, "During the dialogue, they discussed the economic and financial developments and the credit rating of Iraq, the factors that contributed to maintaining the credit rating at-and the emphasis on financial and economic stability, according to Standard and Poor's."

He pointed to "the contribution of changing the exchange rate in relieving pressure on foreign reserves and enhancing the ability of the Ministry of Finance to provide domestic financing and recovering crude oil prices at the beginning of 2021 compared to what they were in 2020."

The statement continued, "The stable outlook for the Iraqi economy was also discussed, which 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."

The Ministry of Finance pointed out that "the Standard and Poor's Agency, since the outbreak of the Corona pandemic, has taken decisions to reduce the rating from stable to negative for more than 80 cases around the world."

Ammar Al-Masoudi

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