IMF urges Iraq to build fiscal buffers
The International Monetary Fund has urged Iraq to build up its weak fiscal buffers as the oil producer’s economy remains highly vulnerable to the oil market. Iraq has maintained macroeconomic stability “in a difficult security and political environment,” the IMF executive board said on May 21. The board, summing up a review of the Iraqi […]The Journal of Turkish Weekly reports:
The International Monetary Fund has urged Iraq to build up its weak fiscal buffers as the oil producer’s economy remains highly vulnerable to the oil market.
Iraq has maintained macroeconomic stability “in a difficult security and political environment,” the IMF executive board said on May 21.
The board, summing up a review of the Iraqi economy, urged the government to strengthen fiscal buffers and its institutions, citing still-high risks, “including from oil price volatility.” And the board urged a faster pace of reforms for the private, non-oil sector to generate jobs and more inclusive growth.
