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Is the KRG heading for bankruptcy?

Iraq’s Kurds warn that unless Washington rides to their financial rescue, they cannot sustain their fight against the Islamic State.
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When the Iraqi Kurds come to Washington, it is often to ask for guns to fight the Islamic State (IS). Now they are pleading for cash, warning that their campaign against the jihadis is threatened by an economic “tsunami” that has left their quasi-independent state teetering on the brink of collapse. “Is this only our fight or yours, too?” asked Fuad Hussein, chief of staff of Iraqi Kurdistan Regional Government (KRG) President Massoud Barzani, after briefing top US officials in Washington last week.

The Iraqi Kurdish peshmerga warriors and the Syrian Kurdish People’s Protection Units are critical allies in the fight against IS, wresting back huge chunks of territories including the town of Sinjar in Iraq and the Tishreen dam in Syria. But Hussein cautioned that IS remains “a big threat” and could “regroup at any time.” Unless the Kurds’ allies step in with financial aid, the Kurds' capacity to fend off the jihadists will wane, he said. “You cannot win the fight when you can’t survive economically,” Hussein told Al-Monitor in an interview.

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