American economic advisers to help Iraqi Kurdistan overcome financial crisis

January 25, 2016

HEWLÊR-Erbil, Kurdistan region ‘Iraq’,— The United States will send advisers and experts to help Iraq’s Kurdistan Regional Government (KRG) tackle the ongoing economic crisis affecting the region, a KRG website reported Sunday.

Kurdistan Prime Minister Nechirvan Barzani has received a US delegation on Sunday that included US ambassador to Iraq Stuart Jones, to discuss the region’s economic crisis and ways to solve the issue.

According to the KRG website, the U.S. delegation expressed their eagerness to help the region’s government weather the crisis with the least damage.

Barzani blamed relations with Baghdad and the federal government’s decision to cut the KRG’s share of the national budget for the economic crisis, as well as the fight against the Islamic State (IS), an influx of refugees and displaced people and the global slump in oil prices.

“Baghdad’s halt of Kurdistan’s budget, war against Islamic State, waves of IDPs and refugees as well as a sharp decrease in the price of oil are the reasons for the current crisis,” the KRG statement said.

Barzani asked for technical assistance from the U.S. delegation, as the region plans to implement a reform plan to reduce expenditures and increase revenue.

The U.S. delegation reportedly said the request and data on the crisis would be communicated to Washington and that advisers and experts would be sent to Erbil to help tackle the economic crisis.

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