“Standard & Poor's” credit rating agency has proven its outlook for Iraq's creditworthiness based on the commitments implemented by the government, unlike Moody's, which questioned its quality last July, which could boost confidence in the country's oil economy.
The Iraqi Ministry of Finance revealed that the agency confirmed in its latest reports the credit rating of Iraq at B/B negative with a stable future outlook, with an emphasis on financial and economic stability.
The Ministry stated that the new classification was a reflection of the policy of ongoing economic and financial reforms, in addition to maintaining a level of foreign currency reserves that exceeds the external public debt.
Source (Al-Arab Newspaper of London, Edited)
