Despite the relatively timely completion of December’s payments to international oil companies (IOC) the Kurdistan Regional Government (KRG) is mired in a financial quagmire.
While oil exports and sales ramped up considerably during 2015, the constant slide in oil prices has contributed to a quadruple-whammy that has resulted in the KRG calling on the international community to provide “direct financial assistance to enable KRG to at least prevent the region from imminent collapse.” (CONTINUED - 1195 WORDS)
