A credit agency classifies Iraq as “B-Bs Negative” with a stable outlook

A credit agency classifies Iraq as “B-Bs Negative” with a stable outlook

26/08/2018

A credit agency classifies Iraq as B-Bs Negative with a stable outlookAgencies
The credit rating agency Standard & Poor’s on Sunday, “the credit rating of Iraq at (B- / B) with a stable outlook, but said in its comments on the financial classification that” political and economic development is hampered by widespread corruption. ”
“Fighting corruption and external security threats is a major challenge for Iraq in the short term,” the agency said in a report.
“The stable outlook reflects the expectation that policy measures under the IMF program will contain risks to Iraq’s fiscal performance,” she said.
The agency confirmed that it may reduce its rating to Iraq if there is a sharp increase in net government debt or debt service expenses.
Standard & Poor’s has ruled out raising its ratings for Iraq over the next 12 months, but may raise the rating if political and security stability improves, along with public finances.
She warned that the government debt to Iraq will increase over the next four years and the deficit in the government budget and current account will worsen.

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