RCD Publishes the translation of Fitch Ratings' Report About the stability of the outlook on Iraq's Foreign Currency Reserves
Fitch Ratings, one of the highly esteemed credit rating agencies in the world, has recently issued a report in which it revised the outlook on Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) to (Stable) from (Negative) and affirmed the IDR at 'B-'.
The improvement has occurred as a result of increased oil prices and decreased rates of foreign currency reserves spending, in comparison with what was recorded by Fitch in April 2020, which is the cause behind the change in the Outlook from (Negative) to (Stable).
In addition, Fitch affirmed in the report that Iraq can reach a more sustainable financial status by applying specific fiscal policies, especially after the adoption of the (White Paper).
Al-Rafidain Center for Dialogue RCD published the translation of this important report by its Translation Division (part of the R&D department), and made it available for researchers and the media.
The new publication came as a part of a long series of publications that tackle Iraq's political, economic and cultural outlook, and all issues that are related to the impacts of regional and global status.