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Tishwash: Standard & Poor’s: Iraq is going through unprecedented economic risks

Standard & Poor’s credit rating agency said that Iraq is going through unprecedented economic risks.

The agency added in a report that Iraq is striving to abide by the agreements to reduce oil production approved by the OPEC group to restore balance to world oil prices, but it is in urgent need of oil revenues in light of the Corona crisis and the fight against ISIS.

The agency quoted the acting oil minister, Ali Allawi, as saying that Iraq would promote oil production cuts, despite the severe financial constraints it faces by addressing technical issues with foreign oil companies.   link