At the "B" grade .. Minister of Finance: Iraq has maintained its global credit rating
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At the "B" grade .. Minister of Finance: Iraq has maintained its global credit rating
Admin Fri Feb 26, 2021 10:05 am
At the "B" grade .. Minister of Finance: Iraq has maintained its global credit rating
Economy | 03:37 - 26/02/2021
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Baghdad - Mawazine News
On Friday, the Minister of Finance, Abdul Allawi, confirmed that Iraq internationally maintained its credit rating at B, with an emphasis on financial and economic stability, according to the international agency Standard and Poor's S&P.
The media office of the Minister of Finance stated, in a statement received by Mawazine News, that “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.”
The statement added, "During the dialogue, they discussed the economic and financial developments and the credit rating of Iraq and the factors that contributed to maintaining the credit rating at -???? and the emphasis on financial and economic stability, according to S&P Standard and Poor's Agency.
Allawi said, "The change in the exchange rate contributed to 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 the ability of Iraq to pay off its external debt obligations over the next (12) months."
It is worth noting that, since the outbreak of the Corona pandemic, Standard & Poor's agency S&P has taken decisions to reduce the rating from stable to negative for more than 80 cases around the world.
https://www.mawazin.net/Details.aspx?jimare=143347
Economy | 03:37 - 26/02/2021
image
Baghdad - Mawazine News
On Friday, the Minister of Finance, Abdul Allawi, confirmed that Iraq internationally maintained its credit rating at B, with an emphasis on financial and economic stability, according to the international agency Standard and Poor's S&P.
The media office of the Minister of Finance stated, in a statement received by Mawazine News, that “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.”
The statement added, "During the dialogue, they discussed the economic and financial developments and the credit rating of Iraq and the factors that contributed to maintaining the credit rating at -???? and the emphasis on financial and economic stability, according to S&P Standard and Poor's Agency.
Allawi said, "The change in the exchange rate contributed to 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 the ability of Iraq to pay off its external debt obligations over the next (12) months."
It is worth noting that, since the outbreak of the Corona pandemic, Standard & Poor's agency S&P has taken decisions to reduce the rating from stable to negative for more than 80 cases around the world.
https://www.mawazin.net/Details.aspx?jimare=143347
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