Baghdad approves 3-month stop-gap funding for KRG

Three monthly loans of $538 million promise temporary relief to pay civil servant salaries, but unresolved questions loom for Kurdistan's oil industry.

KRG Prime Minister Masrour Barzani (center left) meets with former Iraqi Prime Minister Nouri al-Maliki (center right), the leader of the State of Law coalition, in Baghdad on Sept. 14, 2023. (Photo credit: KRG)

Budget loans give KRG financial lifeline

Baghdad has sent nearly $1 billion to Kurdistan since March, highlighting political cooperation that could grow into reliable financial flows with the passage of a new budget law.