UN envoy warns of Iraq's economic fragility

United Nations: The top UN envoy for Iraq warned about the fragility of Iraq's economy despite recent increases in oil revenues. Iraq continues to experience acute financial and economic difficulties, as reflected by the exceptional devaluation of the Iraqi dinar by over 20 per cent in late December, said Jeanine Hennis-Plasschaert, the UN secretary-general's special representative and head of the UN Assistance Mission for Iraq on Tuesday, Xinhua news agency reported.

A nearly 40 per cent increase in oil revenues since November 2020 has eased the liquidity crisis, providing some breathing room for the government. Now, the projected continued increase in oil prices is expected to allow the government to move forward on pressing matters such as public service delivery and civil servant salaries, she noted.