Confirmation of the possibility of raising the credit rating of Iraq


During the second half of 2018

Baghdad / Mustafa Al Hashemi

A higher degree of sovereign credit rating for any country is an economic gain and reflects the environment and the investment climate which gives it an incentive to be stable and attractive countries for investments and able to repay their debts in the event of a shock to the economy.

In this regard, the economic researcher Firas Amer called for "speeding up the restructuring of the banking sector, which would raise the credit rating of Iraq because banks are the backbone of the economy, especially as we live in the days of victory over the" dashing "which should be followed by an economic victory that strengthens the position of Iraq between countries".

The GCR, an abbreviation of global credit rating, is defined as a measure of the borrower’s ability to meet obligations vis-à-vis lenders, in other words, the risk of default by the lender (issuer of the bond) in fulfilling its obligations (loan value and interest
) . Better degree

Amer said in an interview with Al-Sabah that "obtaining a rating rating, better than the current high at B-, by the three global credit rating institutions is not difficult, but it is linked to the existence of real management to fulfill its requirements," noting that " Higher than Iraq’s credit rating of Standard & Poor’s, Fitch and Moody’s is through the adoption of governance in managing the financial and production portfolios of

" Credit rating The world’s credit rating is rated 4, A, B, C and D along with the variables that represent a + or – and different frequency. The three credit rating agencies, Standard & Poor’s, Moody’s and Fitch, generally assess debt risk for both corporate and government debt issuances.

Classification of Iraq
Standard & Poor’s, the world’s largest credit rating agency, has confirmed Iraq’s credit rating at B- / B and has given it a stable outlook, adding that the fall in oil prices has kept financial and external pressures, noting that Iraq has huge reserves It has large oil exports, reducing fears in this area, so the agency attached to its classification with stable prospects, usually the growth of the country that will remain stable in the medium term due to a large increase in oil production, which will reduce the pressure of the budget.

Amer said that "the liberation of Iraqi cities from the grip of" terrorist "will affect the high degree of classification, and hoped to be achieved during the second half of 2018, which would increase the attractiveness of foreign investment, which will achieve economic stability followed by stability in public matters that Will be reflected on the economy and income of the citizen
and the family. "

The adviser to Prime Minister Dr. "The agency is conducting a review of the classification level every six months through its meeting with financial institutions and the Ministry of Planning and the security authorities and the rest of the relevant departments, stressing that the indicators confirm the liberation of the cities of Iraq during the current year of terrorism."

"The stability of Iraq will give it the highest ratings with a stable outlook in view of its global reputation in the payment of its financial obligations in addition to having the resources to qualify for the highest credit rating."