Iraq faces severe economic crisis

Iraq is experiencing a severe financial crisis that has led to delays in paying employees' monthly salaries. The Iraqi government has warned that it may resort to domestic and international borrowing if the closure of the Strait of Hormuz continues. Officials have confirmed the lack of sufficient funds, while the crisis reflects escalating talks of corruption involving billions of dollars. The Prime Minister is at a loss on how to secure the salaries, and Members of Parliament are calling for pressure on Iran to exempt Iraqi oil shipments from restrictions passing through the Strait of Hormuz.

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