Confirmation of the possibility of raising the credit rating of Iraq

13/3/2018 12:00 am


During the second half of 2018
Baghdad / Mustafa Al Hashemi
A higher degree of sovereign credit rating for any country is an economic gain and reflects the environment and the investment climate which gives it an incentive to be stable and attractive countries for investments and able to repay their debts in the event of a shock to the economy.
In this regard, the economic researcher Firas Amer called for "speeding up the restructuring of the banking sector, which wouldraise the credit rating of Iraq because banks are the backbone of the economy, especially as we live in the days of victory over the" dashing "which should be followed by an economic victory that strengthens the position of Iraq between countries".
The GCR, an abbreviation of global credit rating, is defined as a measure of the borrower's ability to meet obligations vis--vis lenders, in other words, the risk of default by the lender (issuer of the bond) in fulfilling its obligations (loan value and interest
) . The degree of better added Amer in an interview with the "morning" that "get a degree rating, better than the current amount at B-, by the institutions of global credit rating of the three is not difficult, but it is linked to the existence of the real administration to fulfill its requirements , " noting that "getting A higher degree of credit rating of the S & P, Fitch and Moody's through the adoption of governance in the management of financial and production files for Iraq. " Credit rating The world's credit rating is rated 4, A, B, C and D along with the variables that represent a + or - and different frequency. The three credit rating agencies, Standard & Poor's, Moody's and Fitch, generally assess debt risk for both corporate and government debt issuances. The rating agency Iraq Standard rating agency, the world's largest credit rating agencies, proved the credit rating of Iraq at B- / B and gave him a stable outlook, adding in a statement that the decline in the price of oil caused the continuation of financial and external pressures, noting that Iraq has The country's growth is likely to remain stable in the medium term due to a large rise in oil production, which will ease the budgetary pressures. Amer said that "the liberation of Iraqi cities from the grip of" terrorist "will affect the high degree of classification, and hoped to be achieved during the second half of 2018, which would increase the attractiveness of foreign investment, which will achieve economic stability followed by stability in public matters that Will be reflected on the economy and income of the citizen and the family. " Future Outlook The Prime Minister's Advisor, Dr. "The agency is conducting a review of the classification level every six months through its meeting with financial institutions and the Ministry of Planning and the security authorities and the rest of the relevant departments, stressing that the indicators confirm the liberation of Iraq's cities during the current year of terrorism." "The stability of Iraq will give it the highest ratings with a stable outlook in view of its global reputation in the payment of its financial obligations in addition to having the resources to qualify for the highest credit rating."