Though the KRG’s struggling economy has got some relief from the last two months’ rise in oil prices, the planned output gains that would put the region’s finances on a sounder long-term footing continue to recede into the distance.

A rise of 17% in oil prices since Opec’s November 2016 agreement to cut production (see p10), has provided some relief to Iraqi Kurdistan’s struggling economy.

The revenue boost has enabled the KRG to make a second set of payments...