Sovereign Analysis /
Iraq

Iraq: Oil improves macro but underlying outlook still weak

  • Rising oil prices have vastly improved Iraq's macro indicators and pushed up eurobond prices

  • Underlying outlook still quite weak, with peak reform momentum likely reached at the end of last year

  • Remains to be seen if new government will recommit to reforms and secure IMF programme; retain Hold recommendation

Iraq: Oil improves macro but underlying outlook still weak
Patrick Curran
Tellimer Research
1 November 2021
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