🇮🇶 Iraq
Public Sector Debt · 2026
Total Debt
61.0%
of GDP
Global Rank
#86
of 192
S&P Rating
B-
Credit rating
SOE Debt
+3.0%
2 categories
5yr Change
-19pp
improving
Where the Debt Sits
Central Government
Central Government: 53.5%Subnational: 4.5%Energy SOEs: 2.0%Infrastructure: 1.0%
Who Holds This Debt
Holder Breakdown
Domestic 50%
Foreign 50%
Domestic: 50%Foreign: 50%
Currency Denomination
Local 40%
Foreign 60%
Local currency: 40%Foreign currency: 60%
Full Debt Breakdown
Central Government53.5% of GDP
Central GovernmentIMF WEO — General Government Debt
53.5%Subnational / Regional4.5% of GDP
SubnationalIMF WEO — General Government Debt
4.5%Energy SOEs2.0% of GDP
Iraqi Oil Sector SOEs (INOC, South Gas Co, Basra Oil)IMF Article IV 2024Oil sector mostly ministry divisions; INOC re-established 2018
2.0%Infrastructure SOEs1.0% of GDP
Iraqi Airways & Infrastructure SOEsIMF Article IV 2024Iraqi Airways and other infrastructure entities
1.0%Total Corporate Debt8.0% of GDP
Nonfinancial corporate debt (est.)World Bank/CBI/IMF 2024
8.0%Household Debt2.0% of GDP
Household debt (est.)World Bank/CBI/IMF 2024
2.0%State Bank Liabilities20.0% of GDP
Rafidain Bank & Rasheed BankIMF Article IV 2024Two largest state banks hold ~85% of banking assets; estimated liabilities ~$42B
15.0%Trade Bank of Iraq (TBI)IMF Article IV 2024 / Fitch 2024Major state trade finance bank; Fitch CCC+
5.0%All Layers Total91.0%
Credit Ratings
S&P
B-
Moody's
Caa1
Fitch
B-
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202658.0% GDP
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