Fitch Ratings has maintained Iraq’s credit rating at B- with a stable outlook, pointing to persistent structural pressures and economic challenges affecting the country.
The agency highlighted Iraq’s significant dependence on oil and primary commodity revenues, in addition to weaknesses in governance and institutional performance, as well as heightened political risks.
Under its baseline projections, Fitch expects an agreement to be reached to reopen the Strait of Hormuz by next March, while government expenditure is anticipated to decrease in response to declining revenues.
