Fitch modifies his view of the Iraqi economy from negative to stable
Fitch modifies his view of the Iraqi economy from negative to stable
Tuesday 30 March 2021 | 10:29 a.m.
The (Fitch) credit rating agency issued an amendment regarding the future outlook of the Iraqi economy and raising the degree of its credit rating to “stable” with regard to the possibility of defaults on payment, for a party that exports foreign exchange (IDR) and acknowledges that Iraq has reached the rank (-B).
The agency stated that data on improving oil prices, monitoring a smaller decrease in foreign exchange reserves, and comparing them with what the agency relied on in April 2020, raised the outlook from negative to stable .
In its approved international classification, the agency confirmed that there is a possibility of conducting some financial policies to reach a more sustainable situation, after the government approved the white paper.
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