Counting the Cost

Decades of plundering: Where has Iraq’s oil wealth gone?

Iraq’s dire public services, regular power cuts and water shortages have sparked protest across the country.

Ranked as the fourth-biggest oil producer in the world, many would assume that Iraq has the financial resources to weather the pandemic.

But that is not the case – its fragile economy is struggling to cope and it may turn to the International Monetary Fund for assistance. It has already devalued its currency by almost a fifth, enabling it to eke out more dinars for dollars.

Ahmed Tabaqchali, the chief investment officer of AFC Iraq Fund, helps explain where all of Iraq’s money goes.

Plus, Dr Azeddine Ibrahimi, director of MedBiotech, tells us why mRNA is the pandemic’s breakthrough technology.