Ministry of Finance: Iraq maintains its credit rating and level of foreign currency reserves

Baghdad-INA  
The Ministry of Finance confirmed, today, Sunday, that Iraq has maintained its credit rating and level of foreign currency reserves.
 
The ministry said in a statement received by the Iraqi News Agency (INA):that "In the latest report issued by Standard & Poor's Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq."
 
The Ministry of Finance added that "the new rating reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices."
 
It continued that "the agency's report indicated the possibility of improving Iraq's credit rating in the event of an increase in the economic growth rate, diversification of the state's oil and non-oil public financial revenues, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform procedures."