Iraq’s Oil Price Economic Collapse of 2020, Explained


With oil prices collapsing, Iraq is feeling the heat. The country is running out of cash to pay for everything from government employee salaries and basic operational expenses. Here is exactly what’s going on and the government’s plan to persevere.



Iraq Devalues Its Currency as Economy Unravels

Iraq’s Prime Minister Bets Big on Economic Reforms

Cash-Strapped Iraq Seeks $2 Billion Upfront Payment for Oil

China Set to Bail Out Iraq With Multibillion-Dollar Oil Deal

Iraq’s Currency Devaluation May Not Be Enough to Salvage Sinking Economy


Export Data:

Iraq Government Revenue:,Million%20in%20January%20of%202004.&text=Iraq%20Government%20Revenues%20%2D%20values%2C%20historical,updated%20on%20December%20of%202020

Iraq Government Spending:

Iraqi government submits 2020 budget to parliament, nine months late


Iraq’s cabinet approves 2021 draft budget of $103 billion

Foreign Policy:

Iraq’s Economic Collapse Could Be Biden’s First Foreign-Policy Headache