Iraq’s outlook is bleak. Low oil prices have devastated the nation’s finances, which are already strained by the fight against the Islamic State (ISIS) and the flood of internally displaced refugees that has come with it. Although Iraqi forces and their affiliates have regained ground against ISIS, uprooting the group entirely will be a lengthy and expensive ordeal. All the while, Iraq’s critical oil pipelines and infrastructure are being damaged and, in some cases, destroyed. This has reduced domestic fuel supply and curtailed oil exports.
There is, however, an even larger threat to Iraq’s long-term stability
Source URL: https://www.foreignaffairs.com/articles/iraq/2016-04-19/reforming-baghdad