Fri Oct 14, 2016 11:22AM
A file photo of an oil facility in Iraq.
A file photo of an oil facility in Iraq.
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Iraq is a country that has been devastated by years of war and now falling oil prices. The war against the Daesh terrorists, which claims lives almost daily, has increased the risk of fiscal instability.

But when news came out that Iraq’s economic recovery is tied up by the US budget tussle, that was worth looking into the basic question being why Iraq’s economic recovery plans is tied up by the US budget.

Iraq is facing a perfect economic storm. The country is facing monumental challenges: falling oil prices, the war against the Daesh terrorists, millions of displaced citizens, and staggering costs for reconstruction. How can it afford these all at once?