Parliament set for imminent vote on scaled-down, $10B financing law

Legislation would provide less than one-third of the emergency funding requested by the Cabinet, and could be further delayed by Erbil-Baghdad disputes.
Parliament set for imminent vote on scaled-down, $10B financing law
Then Prime Minister-designate Mustafa al-Kadhimi (center-left) meets with Parliament Speaker Mohammed al-Halbousi and others at Parliament ahead of the formal vote appointing him prime minister on May 6, 2020. (Photo credit: Farhad Alaaldin)

ERBIL/SULAIMANIYA/BAGHDAD - Iraq's Parliament is considering a scaled-down emergency financing law that would give the government access to 12 trillion Iraqi dinars ($10.2 billion) in financing, though it could be delayed by renewed disputes over revenue-sharing with the semi-autonomous Kurdistan region.

The revised bill would provide less than one-third the amount of funding requested by the Cabinet, but it would still give Iraq a minimum level of liquidity needed to make delayed payments to public-sector employees and relieve some pressure on the Oil Ministry, which has been pumping oil above its OPEC-plus quota largely because of domestic financial necessities.

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