AGP Executive Report
Last update: 6 hours agoEconomic Outlook: The IMF expects Iraq’s economy to contract by double digits in 2026 as the Iran war disrupts energy production, shipping and trade. It forecasts a sharp regional rebound next year, but says output will remain below pre-war expectations. Banking: Iraq’s central bank barred the sanctioned International Development Bank from all US-dollar transactions, following US allegations of links to Iranian networks. Separately, Iraqi bank deposits rose by $1.57 billion as lending shrank. Oil Investment: Baghdad is reshaping contract terms to attract major oil companies, with Chevron, BP and TotalEnergies pursuing large projects. ExxonMobil is also set to manage seawater supply to a major oilfield, supporting future production. Trade and Transport: Iraq launched a vessel-monitoring system in its territorial waters to improve shipping safety and commercial traffic. The move comes as regional shipping risks raise pressure to strengthen trade routes and port operations. Energy Transition: Iraq removed import tariffs on solar systems, lowering costs for equipment as the country seeks to expand power supply.
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