Financial free fall threatens Kurdistan’s stability, oil sector
Iraq's semi-autonomous Kurdistan Regional Government (KRG) is descending into a deep financial crisis with the potential to undermine social stability and oil investment.
Because of low oil prices, pandemic-related disruptions, and political disputes with Baghdad, the KRG's total revenues fell below $200 million in April, according to an Iraq Oil Report analysis of oil and financial data* – about 12 percent of its average monthly revenue in 2019, and about $1.3 billion short of the cash required to meet expenses.
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