Iraq’s External Public Debt Drops

Iraq’s external public debt has fallen to US$20 billion, the state news agency reported, citing the prime minister’s adviser for financial affairs. Iraq’s foreign debt was US$133 billion in September 2020. Iraq, which relies on oil to fund 95% of its 2021 national budget, plans to increase oil exports to 3.4 million barrels per day in the first quarter of 2022.