Finance: Iraq maintains its credit rating at B/B- with a stable outlook

Baghdad-INA 
The Ministry of Finance confirmed today, Tuesday that Iraq maintained its credit rating at -B/B, with a stable outlook.
 
The ministry said, in a statement received by the Iraqi News Agency (INA), that "in the latest report of Standard & Poor's (S&P), Iraq maintained its credit rating at -B / B with a stable outlook, and an emphasis on financial and economic stability, according to the agency's report."
The ministry added, "The new classification was a reflection of the policy of continuous economic and financial reforms pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceeds the service of external public debt and the fulfillment of other external financial obligations as a result of the rise in crude oil prices."
  "The agency's report indicated the possibility of improving Iraq's credit rating in the event of a high rate of economic growth, diversification of public financial revenues for the oil and non-oil state, an increase in per capita income from national income, and the continuation of financial and economic policy reform measures." According to the statement.