Fitch keeps Iraq’s credit rating steady at B-

Shafaq News – Baghdad

International credit rating agency Fitch has fixed Iraq’s sovereign rating at B- with a stable outlook, the Ministry of Finance announced on Monday.

In a statement, the ministry said Fitch’s report highlighted Iraq’s internal stability, noting that domestic conditions have remained resilient and stable in recent months. The agency pointed to improvements in the security situation, which have strengthened Iraq’s capacity to absorb successive geopolitical shocks.

The ministry said that the stable outlook supports the government’s push to accelerate structural reforms, including expanding non-oil revenues, enhancing the efficiency of public spending, and resolving challenges tied to future budget approvals.

Fitch is a leading credit rating agency headquartered in the United States. It assesses the creditworthiness of countries and companies based on economic, financial, and political indicators.

In August, caretaker Prime Minister Mohammed Shia Al-Sudani directed the formation of a joint national team tasked with raising Iraq’s sovereign credit rating, mandating it to develop a strategy with measurable targets, submit regular progress reports, and coordinate directly with global credit rating agencies.