FICR: A global praise for the economic reform measures in Iraq

Baghdad - INA

Fitch International Credit Rating Agency praised the economic reform measures in Iraq, while expressing optimism about the future of Iraq.
A statement by the Ministry of Finance received by the Iraqi News Agency (INA) said, "Fitch International Credit Rating Agency presented a report in which it praised the financial measures adopted by the Iraqi government as part of its reform policy for the course of the Iraqi economy."
He added, "According to the agency's report, the credit rating of Iraq was modified from a negative outlook -? Last year to a stable outlook," noting that "the new rating comes to reflect the continuation of foreign currency reserves at a level that exceeds the external public debt service and the state's ability to fulfill its financial obligations and steps."
 The reform included in the white paper and the efforts of the Ministry of Finance and its effective contribution to reducing the value of the expected deficit of the federal public budget, as well as the measures related to changing the exchange rate of the Iraqi dinar, which had the effect of relieving pressure on foreign reserves and recovering global oil prices during the first quarter of this year.