Anti-ISIS Coalition Handed Over Taji Base To Iraqi Army

US Gen. Kenneth Ackman, who was present at the handover ceremony, described the handover to the Iraqi army as a “historic event.” Maj. Gen. Tahseen al-Khafaji, the official spokesman for the Iraqi Joint Operations Headquarters, said Australian, New Zealand, and US forces were stationed at the base and said $347 million worth of equipment had been delivered to Iraqi forces.

Could Freelance Gigs Be Better for the Arab Economy than Oil?

The inflation rate in the Middle East is now estimated to be 8.8% in 2020. With Egypt, possibly the fastest growing Arab country, growing at only 2%, most oil producing countries in the region are seeing economic contractions. The combination of Covid-19 hitting the local population and the oil decline has severely affected this region.

Arab oil exporters are forecasting oil supply cuts of about 50% in 2020 and 2021, levels that have been approved by OPEC agreements.  The combination of significant cuts in production, $42 a barrel for oil, and Covid affecting local marketplaces, will have a significantly negative impact on regional economies.