Iraq: Baghdad Has Lost $4b in Two Months from War and Lost Oil Fields

Mar 22, 2015 | Rudaw
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The Iraqi government has suffered $4 billion in costs  over the past two months due to losses from violence, fighting the war with Islamic State (ISIS) and because oil fields have fallen into the hands of militants, an MP said.

Meanwhile, the International Monetary Fund (IMF) said that Iraq’s budget woes for the current year will be worse than anticipated by the government in Baghdad.

Hesham Eghabi, a member of the parliament’s finance committee, told reporters that Baghdad is far from the aims of the budget for the current year.

He said that in the last two months security problems in Iraq and the government’s loss of some oil fields to the militants decreased oil production and exports, causing “Baghdad $4 billion in financial losses.”