Patrick Cockburn discusses Iraq’s increasingly desperate economic outlook as oil prices remain at historic lows. Iraq’s economy, like many of those in the Middle East, is hugely reliant on oil, with millions directly on a government payroll that depends almost entirely on the oil market in order to remain solvent. Worsening conditions could endanger an already fraught political environment in a country that continues to battle the remnants of an ISIS insurgency in the western part of the country.
Discussed on the show:
- “Iraq will be hit harder by the oil price drop than by coronavirus or Isis” (Independent)
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