(MENAFN- Iraq Business News) From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News .

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

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:

MENAFN13022021000217011061ID1101597345