Finance Ministry issues orders to begin transferring overdue civil servant salaries after overnight approval of $10 billion borrowing 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.
An attack near the Swara Tika and Atrush oil fields comes a week after a pipeline explosion blamed on the PKK, and as Turkey pressures leaders in Erbil and Baghdad to confront the guerrilla group.
Emergency measures include $35 billion in new borrowing, a total overhaul of the economy, and the potential devaluation of the Iraqi dinar.
If the Parliament does not pass a new stop-gap financing law, the government says it cannot fund basic expenses including civil servant salaries.
Strong commercial ties were at the center of the U.S.-Iraq strategic dialogue. Now, with a threat to close its Baghdad embassy, the U.S. is casting doubt on the future of the bilateral relationship.
Cabinet considers new borrowing legislation to fund massive deficits after political headwinds stopped attempts to pass a full 2020 budget.
When Mustafa al-Kadhimi took office, the U.S. granted Iraq a relatively long 120-day Iran sanctions waiver. That diplomatic honeymoon could be ending.
As a new member of the COVAX facility, Iraq secures access to future vaccines — but in the meantime, other measures are needed to avoid a winter spike.
New leadership for Iraq's largest state-run oil company, as well as the Iraqi Drilling Company and the Oil Ministry's Technical Directorate.
