Iraq is now Secure for International Investment: Economic Experts

The role of Iraqi private sector in the Iraqi economic process should be more realistic. The current situation in the country needs to prove their worth by improving credit rating from the institutions and private sector companies.

The government departments and all ministries should give a clear picture of investment opportunities, especially in the reconstruction fields in the liberated areas. A famous economic expert Lubna Al-Shammari said that credit rating of Iraq has its own importance. Iraqi government should confirm its potential in wealth management. Iraq got a credit rating of B-, a 1st grade credit rating had obtained by the Iraqi institutions from international rating agency Global Credit Rating (known as GCR). The credit rating generally issued in measuring the possible access of the borrower in meeting its obligations. Point to be noted that the world’s credit rating issues A, B, C or D with the variable signals of + or – according to their specific measurements. It is important that there are 3 credit rating agencies including the Standard & Poor’s, Moody’s, and Fitch is generally risks related to evaluate for both governments and corporations.

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Shammari added in an interview that it is essential that government departments and all ministries should ask the private sector companies and governmental institutions to obtain the credit rating. It would provide a real class to the public sector in the country of classification. So, they must focus on deep study of the general situation of the departments and ministries including the Iraqi private sector. She also pointed out that Iraqi government has been focused on the war against terrorism, especially the liberation of Anbar and Mosul cities. Now, Iraq is more stable and all ministries and institutions should give the priority in getting the optimistic classification for the final outcome. The Iraqi government should deliver a message to the world that Iraq is now secure and suitable for their investment.

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