No surprises: Al-Alaq denies raising the dollar price
The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied on Sunday any intention to change the exchange rate of the dollar against the Iraqi dinar, stressing that "there is no talk or discussion within the Central Bank or the government about adjusting the official exchange rate for the dollar."
The video for this My FX Buddies Blog is below here:
Al-Alaq's statement came during a panel discussion at the Iraq Investment Forum, where he added, "Everything being circulated is untrue," a clear reference to rumors circulating in recent days about the possibility of adjusting the official exchange rate, which has sparked widespread concern among Iraqis and investors alike.
Analysts believe these statements are an attempt to calm markets and avert a wave of economic turmoil, especially with increasing talk of financial pressures on the Iraqi economy amid the deterioration of the dinar's value against the dollar on the parallel market.
However, the question remains: Will the dollar remain stable in the near term, or might Iraq witness sudden changes in the Central Bank's policies in the future? Al-Alaq's statements were meant to instill reassurance, but the economic reality raises new questions about the government's ability to control the exchange market and protect the dinar from any future fluctuations.
Relationship: Indicators of monetary policy success create a sound environment for investment.
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In his speech at the Iraq Investment Forum, Central Bank Governor Ali Al-Alaq said, "The current phase in Iraq is characterized by stability, reform, and openness to investment." He noted that "the Central Bank is a prerequisite for achieving this stability through its monetary and fiscal policies, controlling inflation, supporting and stimulating various economic initiatives, addressing the demands of the situation, and enabling the private sector to operate in a suitable environment."
He added, "Achieving monetary and financial stability is the result of multiple factors, most notably the daily policies pursued by the Central Bank in addressing developments and challenges, the prudent management of financial reserves, which constitute a fundamental pillar for achieving stability, and the management of the banking sector in a way that contributes to strengthening this path."
He pointed out that "one of the most prominent indicators of the success of monetary policy is creating a sound investment environment through controlling inflation rates," explaining that "general price stability constitutes an important foundation for the private sector and investors, while turbulent environments in terms of price and inflation levels hinder real growth."
He pointed out that "the Central Bank is giving this issue top priority through close monitoring to ensure overall price stability," emphasizing that "Iraq is currently experiencing the lowest inflation rates in its history, which reflects the success of monetary policies in controlling and managing the flow of money, in addition to the presence of comfortable foreign reserves capable of defending the exchange rate and achieving a significant balance between supply and demand for foreign currency."
Central Bank Governor: We have comfortable foreign reserves capable of defending the exchange rate.
Central Bank Governor Ali Al-Alaq announced on Sunday that Iraq is currently experiencing its lowest inflation rate in history. He also noted that Iraq possesses comfortable foreign reserves capable of defending the exchange rate. He emphasized the creation of a sound investment environment following the significant success of monetary policy.
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Central Bank Governor: We are beginning to see non-oil financial revenues.
This came during the Governor's participation in a dialogue session within the Iraq Investment Forum, where he indicated in his speech that Iraq enjoys significant investment opportunities and that Iraqi institutions, both in the public and private sectors, have made progress towards achieving an achievable investment map that generates financial returns for Iraq.
He pointed out that the banking sector is a fundamental pillar for the success of investment projects in Iraq, and he is committed to proceeding with its reform plan to develop this sector and make it the supporting arm for the success of investment projects.
He indicated that Iraq is currently witnessing the lowest inflation rates in its modern history, while noting that it possesses comfortable foreign reserves capable of defending the exchange rate. He emphasized the creation of a sound environment for investment after the great success of monetary policy.
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Central Bank of Iraq Reaffirms Stability of Dinar Exchange Rate Amid Market Speculation
The Central Bank of Iraq (CBI) firmly denied recent speculation about a potential change to the dinar’s exchange rate against the US dollar.
Speaking at the Iraq Investment Forum, CBI Governor Ali al-Allaq clarified that neither the central bank nor the Iraqi government has any intention of adjusting the official rate. “There are no plans to alter the exchange rate,” he stated, addressing concerns raised by circulating reports.
The Iraqi dinar has seen considerable volatility in recent years. During the tenure of former Prime Minister Mustafa al-Kadhimi, the exchange rate shifted from 121,000 to 140,000 dinars per $100. Under the current administration led by Prime Minister Mohammed Shia Al-Sudani, the rate was revised to 132,000 dinars per $100.
Despite these official benchmarks, the dollar has often traded above the set rate in local markets, at times reaching as high as 170,000 dinars per $100. However, recent months have seen a gradual stabilization, with market rates aligning more closely with the official figure.
well it is posted more than one place
CBI rules out Dinar-Dollar rate change
Iraq’s central bank (CBI) on Sunday dismissed reports suggesting a change to the dinar’s exchange rate against the US dollar.
Speaking at the Iraq Investment Forum, CBI Governor Ali al-Allaq emphasized that neither the central bank nor the government is considering any adjustment to the official rate.
The dinar has experienced notable fluctuations in recent years. Under former Prime Minister Mustafa al-Kadhimi, the rate climbed from 121,000 dinars to 140,000 dinars per $100. The current government, led by PM Mohammed Shia Al-Sudani, later set the official rate at 132,000 dinars per $100.
Despite these official adjustments, the dollar has continued to trade above the official rate in local markets, peaking at 170,000 dinars per $100 before stabilizing closer to the official rate in recent months.
No surprises: Al-Alaq denies raising the dollar price
The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied on Sunday any intention to change the exchange rate of the dollar against the Iraqi dinar, stressing that "there is no talk or discussion within the Central Bank or the government about adjusting the official exchange rate for the dollar."
Al-Alaq's statement came during a panel discussion at the Iraq Investment Forum, where he added, "Everything being circulated is untrue," a clear reference to rumors circulating in recent days about the possibility of adjusting the official exchange rate, which has sparked widespread concern among Iraqis and investors alike.
Analysts believe these statements are an attempt to calm markets and avert a wave of economic turmoil, especially with increasing talk of financial pressures on the Iraqi economy amid the deterioration of the dinar's value against the dollar on the parallel market.
However, the question remains: Will the dollar remain stable in the near term, or might Iraq witness sudden changes in the Central Bank's policies in the future? Al-Alaq's statements were meant to instill reassurance, but the economic reality raises new questions about the government's ability to control the exchange market and protect the dinar from any future fluctuations.
An Iraqi bank reveals progress in electronic payments.
he Director General of the Trade Bank of Iraq, Bilal Al-Hamdani, announced on Sunday a plan to increase the number of its branches over the next two years. While noting progress in electronic payments, he confirmed a significant increase in the volume of transactions, noting that the next phase will witness the launch of new projects under sovereign guarantees.
Speaking at a dialogue seminar during the Iraq Investment Forum, Al-Hamdani said, "Since its establishment in 2003, the bank has been operating under exceptional circumstances, but it has been able to achieve remarkable progress in terms of increasing the number of branches and strengthening its role in supporting the banking sector and the national economy." He indicated that "the bank has a plan, in coordination with the Central Bank, to increase the number of branches over the next two years."
He added, "The purpose of this is to diversify the nature of the branches and separate their specializations to serve the requirements of the market and investors." He pointed out that "TBI Bank's unique advantage in the past was its possession of correspondent banks, at a time when the private sector did not have such a capability. However, today, thanks to the support of the Central Bank, many Iraqi banks have correspondent banks and compete in their work, which enhances the expansion of banking activity and not restricting it to a single bank."
He stressed that "restoring confidence in the Iraqi dinar was one of the bank's most important goals, in cooperation with the Central Bank and local banks," explaining that "the adoption of transactions in the dinar has given investors greater confidence in the national currency."
He explained that "the bank has achieved remarkable progress in the field of electronic payments, as usage rates have increased significantly over the past three years, which has strengthened citizens' confidence in national banks." He pointed out that "the bank's strategy focuses on supporting businessmen by providing loans and facilities and executing foreign transfers, in addition to developing banking cadres through training, automation, and signing agreements with modern banking systems to facilitate operations."
He stressed that "the bank's role in the sovereign guarantees file is limited to mediation between the Ministry of Finance and the Iraqi customer on the one hand, and lending banks abroad on the other," indicating that "some foreign banks have stipulated that the bank's final accounts be audited by major international firms."
He stated that "the delay in completing the final accounts since 2022 was not due to the bank, but rather the result of new instructions requiring reliance on the Big Four auditing firms," stressing that "the bank obtained an exemption from the Council of Ministers in mid-2024 to contract with one of these companies, and that the preliminary accounts for 2022 have already been issued, while the final accounts will be issued within the next two months, followed by the completion of the accounts for 2023 and 2024."
Regarding industrial projects, he explained that "the feasibility studies being submitted focus on the use of local raw materials and supporting food and medicine security," noting that "there are approximately five projects ready to launch, with expectations that the upcoming budgets will see larger figures to support these projects."
He stated that "any new steps typically go through a period of hesitation from both the private sector and the lender, but over time they become clearer and more effective," stressing that "the next phase will witness the launch of new strategic projects within sovereign guarantees."
Dr. Mahoud: The banking reform plan focused on three main factors.
The Prime Minister's advisor for banking affairs, Saleh Mahoud, confirmed on Sunday that the banking reform plan focused on three main factors, while noting that the World Bank praised Iraq's progress in electronic payments.
Mahoud said, "The banking reform plan adopted by the Central Bank of Iraq in coordination with the government took into account three main factors: trust, speed of procedures, and the development of banking tools."
He explained that "investors seek trust, speed of procedures, and modern banking products, and these elements represent the fundamental pillars of any investment environment." He noted that "enhancing trust depends on the presence of effective institutions and compliance with anti-money laundering regulations, which positively impacts investor confidence in the banking system and investment environment."
He added, "The speed of procedures means a shift toward digitization and the development of electronic payment methods, which is what the banking reform plan focused on through extensive coordination between the government, the Central Bank, and the private sector." He noted that "the relevant committees are working in an organized and effective manner."
He pointed out that "the most prominent challenges facing the digital transformation process lie in societal culture and resistance to change, given that Iraqi society relies on cash." He explained that "the government and the Central Bank have sought to spread the culture of electronic payment through practical decisions, including adopting fuel stations as a starting point for card payment experiments, which has contributed to raising awareness of the importance of these tools."
He pointed out that "other challenges relate to infrastructure, legislation, and cybersecurity, as well as the gap between cities and villages in the field of digital services," noting that "the government, in coordination with the Central Bank, has issued clear instructions to activate electronic payment tools in the governorates."
He added, "During a recent symposium, World Bank experts praised the rapid progress Iraq has made in electronic payments and financial inclusion over the past three years, stressing that the indicators recorded in the number of cards and electronic payment devices reflect this development
Central Bank: We have comfortable foreign reserves capable of defending the exchange rate.
Central Bank Governor Ali Al-Alaq announced on Sunday that Iraq is currently experiencing its lowest inflation rate in history. He noted that Iraq possesses comfortable foreign reserves capable of defending the exchange rate and emphasized the creation of a sound investment environment following the significant success of monetary policy.
format iissuesI
In his speech at the Iraq Investment Forum, Central Bank Governor Ali Al-Alaq said, "The current phase in Iraq is characterized by stability, reform, and openness to investment." He noted that "the Central Bank is a prerequisite for achieving this stability through its monetary and fiscal policies, controlling inflation, supporting and stimulating various economic initiatives, addressing the demands of the situation, and enabling the private sector to operate in a suitable environment."
He added, "Achieving monetary and financial stability is the result of several factors, most notably the daily policies pursued by the Central Bank in addressing developments and challenges, the prudent management of financial reserves, which constitute a fundamental pillar for achieving stability, and the management of the banking sector in a way that contributes to strengthening this process."
He pointed out that "one of the most prominent indicators of the success of monetary policy is creating a sound investment environment through controlling inflation rates," explaining
that "general price stability constitutes an important foundation for the private sector and investors, while turbulent environments in terms of price and inflation levels hinder real growth."
He pointed out that "the Central Bank is giving this issue top priority through close monitoring to ensure overall price stability," emphasizing that "Iraq is currently experiencing the lowest inflation rates in its history, which reflects the success of monetary policies in controlling and managing the flow of currency, in addition to the presence of comfortable foreign reserves capable of defending the exchange rate and achieving a significant balance between supply and demand for foreign currency."
US Economic Advisor: Iraq is making remarkable progress, and the reconstruction campaign in Baghdad reflects the extent of development.
The US Embassy's Economic Counselor, Eric Camus, confirmed on Sunday that Iraq has achieved tangible progress in recent years, praising the reconstruction campaign in Baghdad and the development it reflects. He also noted that the country possesses significant opportunities to attract foreign investment and diversify the economy.
During his speech at the Iraq Investment Forum, Kamous said, "Iraqis, who have suffered through conflict and difficult years, are moving forward toward a promising and stable future." He noted that "Iraq has achieved remarkable progress since I arrived in 2010. One need only look at the reconstruction campaign in Baghdad to see the extent of this progress."
He added, "My work at the embassy allows me to see not only the number of American companies seeking investment opportunities in Iraq, but also the ambition of Iraqis and government officials toward technology." He noted that "American companies are taking Iraq more seriously today than they did in the past, and we are interested in supporting American investments here, including through partnerships with Iraqi institutions and delegations visiting Baghdad to facilitate companies' entry into the local market."
Kamous pointed out that "the Iraqi government has begun implementing important reforms, such as launching a single window for company registration, banking reform, and expanding the electronic payment system, which will reduce reliance on cash and enhance transparency." He explained that "these are major reform steps that will contribute to improving the business environment."
He emphasized that "the security environment in Iraq today is more stable than it was 15 years ago, making the country a more attractive environment for foreign investment," emphasizing that "there are vast opportunities for Iraq to build a diversified economy based on clear laws and regulations, enabling fair competition and long-term investment."
The removal of zeros on the Iraqi dinar has caused concern among citizens
The Central Bank of Iraq's proposed decision to remove three zeros from the dinar has sparked mixed reactions. According to the bill, one million dinars will become 1,000 dinars and 1,000 dinars will become one dinars, which has caused concern among some citizens and economists.
Citizens fear that this change will have a negative impact on their daily livelihoods, especially the working class and salaried employees. Meanwhile, economists warn that the implementation of this project is currently dangerous and requires a strong economic infrastructure and preliminary measures.
"Financial and economic stability does not require another financial earthquake. Such steps will take months and the first losers will be the salaried employees," Safwan Qusay, an economist, told Kurdistan24.
"Before taking this step, the government should consult the citizens and then increase the salaries and daily wages of workers, so that citizens are prepared for the shock. Because in fact, the salary is low and does not meet the needs of individuals.
If the zeroes on cash become a reality, it will open a new door for money laundering for corrupt officials, especially the huge wealth they have acquired.
Experts stress that before implementing such a project, Iraq must have a strong economy, large financial reserves and a strict monitoring system to prevent any misguidance.
It looks like the same video from the last week but I will get this translated and post it
Remember this from like a week ago? Now it's coming from Kurdish News and is even harder to translate
I'm pasting the translation here so you can see how it doesn't make sense hahaha
One million dinars will become one thousand dinars one million
0:08
Bazar Dinar Tanzanarish Dinar b
0:13
Safrani, Iraqi narration, no matter what
0:17
With the help of Halatian
0:20
Bibijan
0:22
Don't go back to your computer system
0:26
Behzarajur
0:28
An obsession that overwhelmed them as well as a lack of order
0:32
Strong economy in Iraq
0:36
Before taking this action, the government must:
0:39
Go to the citizen
0:43
Its government is poor
0:46
Bo Howlaty This should be done later
0:53
Pedacs
0:55
Make two trips
0:57
He insulted me, adding that you would come
1:05
Who determines the value of the currency if there is a scarcity?
1:10
A century faded
1:13
There is an American federal record and they are Kurdish
1:18
Shake pesto
1:24
As for economists, this is the issue from his point of view
1:29
He is pasterni
1:32
Please feel free to contact me
1:35
Zayani Safrani Sarkazanash
1:38
With my decree
1:45
This is it
1:49
Pastrkhan
1:54
This is hot
1:57
He left Khanaqina
2:04
Two secrets
2:12
An excavator of the currency must be used in the past
2:17
Dark Chino This is what happens next
2:21
What's the matter with you?
2:27
A dinar from Baghdad, a sword for Kurdistan, seeking his protection
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Iraq is out of the picture. Why did Al-Sudani miss the New York meetings?
The conspicuous and surprising absence of Prime Minister Mohammed Shia al-Sudani from the UN General Assembly meetings in New York last weekend came amid escalating regional and international crises directly affecting Iraq and the accompanying tensions in relations with the United States. While observers believe al-Sudani's absence reflects his government's foreign policy dilemma and Iraq's declining standing regionally and internationally amid continued Iranian influence and a lukewarm relationship with Washington, they asserted that his presence will not be well-received amid the lack of international interest in Iraqi affairs.
International marginalization
“The matter may initially fall within the protocol that requires the president to attend UN General Assembly meetings,” Ihsan Al-Shammari, head of the Center for Political Thought, told Al-Alam Al-Jadeed. “But at the same time, I think Al-Sudani’s decision not to attend has deeper implications, especially considering that he has been accustomed to participating in numerous conferences and invitations over the past period, and therefore his absence this time was not spontaneous.”
Al-Shammari adds, "Al-Sudani accurately read that his participation in the UN meetings might not have a significant impact, especially given the lukewarm nature of the relationship between his government and the administration of US President Donald Trump, which has not yet reached a level that would allow for direct communication at the highest levels. Therefore, the absence of a program that included a meeting with the US president was one of the main reasons that prompted Al-Sudani to avoid traveling to New York."
He believes that “what happened in the recent General Assembly meetings reinforced this trend, as we noticed that the spotlight was largely on Syria and its president, Ahmed al-Sharaa, who met with a number of world leaders, which made the Syrian issue dominate the scene and overshadow the other issues.” He pointed out that “this information may have led al-Sudani to believe that Iraq’s participation would not receive the required momentum, and may even lead to a decline in international interest in it. Therefore, he preferred to leave the participation to the president of the republic.”
The head of the Center for Political Thought points out that "Al-Sudani's absence from this international forum simultaneously reflects a broader failure in managing foreign policy. The principle that Al-Sudani raised under the title of productive diplomacy did not yield tangible results. On the contrary, it led to a clear decline in Iraq's standing, both Arab and international, and to a decline in international interest in Iraqi affairs."
Al-Shammari concludes his remarks by saying, "The absence of a clear vision by the Al-Sudani government regarding foreign policy, and the failure to define a stable identity for this policy, has caused Iraq to appear confused and ineffective. Al-Sudani has continued to rely on the principle of the eroding balance between Iran and America, a flawed approach that has not produced any real gains for Iraq internationally, but rather has contributed to the increasing marginalization of its role."
Prime Minister Mohammed Shia al-Sudani was absent from the 80th session of the United Nations General Assembly in New York, replaced by President Abdul Latif Rashid. This move has raised widespread questions about its background and implications, given escalating regional and international crises, such as the war on Gaza, the Syrian crisis, and Israel's threat to strike Iraqi targets.
diminished sovereignty
For his part, political analyst Nizar Haidar, speaking to Al-Alam Al-Jadeed, said, "It is truly unfortunate that Al-Sudani did not participate in the 80th session of the United Nations General Assembly in New York, especially since the current circumstances required his presence, as the highest executive authority in the country, both constitutionally and legally, to convey Iraq's voice and present its vision on international issues."
Al-Sudani's absence was not without reason, according to Haidar. He believes that "the weak relationship between Baghdad and Washington is one of the most significant factors preventing his participation. The US administration still views him as a man subservient to Iran, in addition to his being a weak prime minister subject to the control of armed factions, which renders him incapable of making independent decisions that would ensure the sovereignty of Iraqi political decision-making."
He points out that "the experience during the first nine months of the Trump administration revealed the nature of this dysfunctional relationship, as everything Washington wanted from Baghdad was delivered under threat and pressure, not out of conviction or commitment to the law."
The Washington-based political analyst lists examples of this, saying, “The government was forced, under threat, to withdraw the Popular Mobilization Forces law from parliament. The factions were forced to release the kidnapped Israeli-Russian woman under direct American pressure. In the Iranian oil smuggling file, Al-Sudani did not announce the formation of an investigation committee until after a severe threat. The same was true of the dollar crisis, where the state acted under external instigation and pressure, not national will. The same applies to resolving the problem of oil exports from Kurdistan. All of these are evidence that confirms that the government is acting under the pressure of threats, not by the strength of its own independent decision.”
Haidar points out that "Al-Sudani's absence from the New York meetings came at a complex time for the region and the world, and he should have at least been present to present Iraq's perspective on hot issues, whether related to the Palestinian conflict or other regional issues."
Haidar also noted that "Iraq's failure to participate in the US-Arab-Islamic summit held in New York at Trump's invitation dealt a severe diplomatic and political blow to Baghdad, revealing the extent of Iraq's declining foreign standing, particularly since Al-Sudani had long spoken of Iraq's active role in the Palestinian issue, but the facts revealed that it was outside the circle of interest."
During the presidency of US President Donald Trump, the Iraqi Prime Minister did not receive an American invitation to visit Washington. Despite having submitted at least ten official requests over the past two years to visit the White House and meet with the US president, all of them were rejected, the most recent of which occurred just about a month ago through Iraqi intermediaries close to the US administration.
Since Trump assumed the White House, Iraqi-American relations have been marked by tension and estrangement, particularly with his implementation of a policy of maximum pressure against Iran. Washington believes Baghdad is easing these pressures due to oil and dollar smuggling. This has prompted Washington not to appoint an ambassador to Baghdad.
The faltering of Iraqi-American relations
Meanwhile, Ghazi Faisal, director of the Iraqi Center for Strategic Studies, told Al-Alam Al-Jadeed that “Iraqi-American relations are currently going through a complex trough and are facing major challenges. This comes after the US administration announced several months ago the suspension of diplomatic relations between Washington and Baghdad. This led to the absence of the US ambassador to Iraq, leaving only a chargé d’affaires. This reduction in the level of representation is a negative indicator of Washington’s dissatisfaction with the political performance in Iraq.”
Faisal adds, "The US administration believes that Baghdad has failed to protect Iraqi sovereignty by not disarming the armed factions that continue to act above the state, the constitution, and the law. Indeed, these factions have even refused to abide by the directives of the Najaf Marja'iyya, which clearly called for disarmament and the state's control over weapons. They have also refused to adhere to the principle of selecting competent figures to manage the state, and have ignored the abolition of the sectarian quota system. Al-Sudani has failed to address or implement these major principles on the table."
He points out that "Al-Sudani also failed to ensure balanced relations with Iran without violating US sanctions. Iraq has witnessed the daily smuggling of up to 300,000 barrels of oil from Basra, in addition to the smuggling of Iranian oil through Iraqi territory, which constitutes a direct violation of the sanctions imposed on Tehran."
The director of the Iraqi Center for Strategic Studies added, "The relationship with Iran represents a red line for the United States, as Washington demands that Baghdad fully comply with the economic sanctions imposed on Tehran. With the current phase of activating the UN Security Council sanctions against Iran, which are strict sanctions affecting various military, civilian, and technological industries, Iraq faces a serious challenge. If Baghdad does not comply with these sanctions, it will later expose itself to direct economic sanctions, for which the Iraqi citizen will pay a heavy price."
The National Union of Kurdistan Parliament: Resuming the region's oil exports will end the financial problems.
The agreement to resume crude oil exports from the Kurdistan Region via the Iraq-Turkey pipeline went into effect on Saturday. Exports proceeded smoothly without any technical obstacles, reflecting the success of the cooperation between the federal government and the regional government.
An important step
MP Karim Shukr, deputy head of the Patriotic Union of Kurdistan (PUK) bloc in the Iraqi parliament, told the PUK's official website that resuming oil exports from the Kurdistan Region is an important step toward resolving the financial problems between the Kurdistan Regional Government (KRG) and the federal government, particularly the delayed payment of salaries to employees in the
Kurdistan Region.
He added, "The Federal Ministry of Finance is expected to disburse employees' salaries for July this week, and efforts are ongoing to disburse salaries for the remaining months of the year."
He continued, "In order to legislate the federal budget law for the year 2026, the Kurdish blocs must work hard to fix the Kurdistan Region's entitlements in the budget in full, not just salaries. They can also rely on the percentage of the Kurdistan Region's population to fix that share according to the latest census conducted last year." He emphasized that the region's population constitutes more than 14% of Iraq's population.
190,000 barrels per day
Oil Minister Hayan Abdul Ghani noted that "the volume of oil exported from the region amounts to 190,000 barrels per day."
The minister explained that on the 25th, a tripartite agreement was signed between the Iraqi Ministry of Oil and the Ministry of Natural Resources, in addition to the companies operating in the region’s producing fields, to deliver to the region 180,000 to 190,000 barrels of oil per day to the Ministry of Oil and to reserve 50,000 barrels for the purpose of operating domestic refineries.
He continued, "We had been anticipating the agreement with the region to resume exports, and it was achieved with the pumping of crude oil towards the receiving point near Fish Khabur on the Iraqi-Turkish border."
Iran’s currency falls to record low against dollar
The Iranian toman fell to a record low against the US dollar on Sunday, with the free market wholesale rate climbing to 11.3 million tomans per $100 and retail prices reaching 11.1 million tomans.
In major Iranian cities, the rates were reported at 11.1 million tomans in Tehran and 11 million tomans in Mashhad. In Baghdad and Najaf, the wholesale rate stood at 11.05 million tomans, while retail prices reached 10.65 million tomans. The decline reflects a more than 2.65% increase from two days ago, when the currency traded at 11 million tomans per $100.
According to Agence France-Presse (AFP), this is the lowest level for Iran’s national currency since international sanctions were reimposed.
Earlier this month, the United Nations Security Council opposed a draft resolution to permanently lift sanctions on Iran. The European Troika—France, Germany, and the United Kingdom—reimposed on Sunday the United Nations sanctions on Iran over its nuclear program, using the mechanism known as “Snapback.”
Sadr, Maliki, and al-Sudani: The Triangle of Conflict Ahead of the November Elections
The statements of the head of the State of Law Coalition, Nouri al-Maliki, have opened a wide door to interpreting the upcoming Iraqi scene from a perspective that goes beyond the electoral moment to the depths of internal and regional balances. The harsh language reveals a deep-seated fear of reproducing the duality of "external danger and Baathist infiltration" as a political card that anticipates the ballot box and places competitors under pressure to align behind the national security discourse.
These statements raise a fundamental question about the limits of the relationship between the state and its institutions and the forces that dominate political decision-making. When Maliki emphasizes that the Coordination Framework is the deciding factor in approving or disqualifying candidates, this reproduces the dual legitimacy dilemma: the legitimacy of the ballot box and the legitimacy of alliances that monopolize the key to power.
Al-Maliki pointed out that "there are 10 candidates competing for the position of prime minister, and the Coordination Framework is the one that decides on the appropriate candidate. We reject the interference of external parties in the selection of the prime minister."
He pointed out that "the Prime Minister's bloc is part of the Coordination Framework, and the latter will enter the elections with separate lists before unifying into a single bloc."
He stressed that "if Al-Sudani does not receive the approval of the Coordination Framework, he will not be re-elected to the position," emphasizing that "the Coordination Framework's condition was that the elected prime minister must not form a party and compete in the elections."
Al-Maliki explained, "When the prime minister exploits the state's resources for his electoral campaign, the competition becomes unbalanced. State resources are being exploited for electoral propaganda."
The verbal confrontation between Maliki and al-Sudani has put the electoral process to an early test. The prime minister is accused of exploiting state resources for electoral propaganda, while Maliki warns against the competition sliding into an unbalanced arena. This raises concerns about the integrity of the electoral process being eroded in the eyes of a public already skeptical of the effectiveness of participation.
This crisis highlighted that the division within the Shiite camp is no longer merely a matter of tactical differences, but has transformed into a conflict of wills over the definition of political legitimacy. While al-Sudani seeks to consolidate his position in power through a second term, al-Maliki insists on reminding everyone that the keys to the final decision rest with the framework, not with the individual prime minister.
Muqtada al-Sadr's stances also opened a parallel door to the crisis. His rhetoric about "changing the deaf ears," not simply changing faces, reveals a radical vision for change that goes beyond the idea of partial reform. This makes him an influential player even in his boycott seat, as his threat of a conditional return remains a brake on any potential electoral stability.
These interactions have placed Iraq in a highly complex situation. Fears of regional tensions spilling across borders and the return of extremist groups intersect with internal divisions over the identity of the state, the limits of sovereignty, and the independence of political decision-making. This makes the upcoming elections not just a competition for parliamentary seats, but a test of the political system itself and its ability to withstand internal and external pressures.
The "Impossible" Disengagement: Iraq Between the Strategies of the Major Powers and Internal Calculations
Political and security researcher Ali Nasser said on Sunday (September 28, 2025) that US pressure on the Iraqi government regarding what is known as "disengagement from Iran" represents one of the most complex challenges facing the country at the present stage.
Nasser told Baghdad Today, "Washington's demand falls within its regional strategy aimed at reducing Iranian influence in the region. However, the reality in Iraq is completely different, as Baghdad and Tehran are linked by geographic, economic, and security ties that are difficult to quickly overcome or circumvent with immediate decisions."
He explained that the United States is trying to "reshape the balance within Iraq by encouraging the government to limit the dependence of some institutions on Iranian spheres of influence, whether in the public sector or in energy, trade, or security matters." He emphasized at the same time that any step in this direction must take into account "the sensitivity and complexity of Iraq's internal situation and be based primarily on the national interest, rather than turning it into a proxy battleground between Washington and Tehran."
Nasser concluded by emphasizing that "the principle of Iraqi sovereignty must be the cornerstone in dealing with these pressures, along with the necessity of adopting a balanced policy that preserves Iraq's relations with all international and regional parties, without becoming involved in axes or being beholden to external dictates."
Iraq has long found itself at the heart of the conflict between American and Iranian influence in the region, particularly after the 2003 US invasion and the subsequent political and security changes.
Iran enjoys strategic relations with Baghdad across multiple fronts, including the economy, energy, and security, while Washington repeatedly exerts pressure to reduce its influence as part of what it calls a "regional rebalancing."
These pressures often focus on Iraqi state institutions and sensitive issues such as the electricity, energy, trade, and security sectors, forcing successive governments to strike a delicate balance between protecting national sovereignty and maintaining stable relations with all international and regional parties.
The President of the Republic returns home after participating in the 80th session of the United Nations General Assembly.
President of the Republic Abdul Latif Jamal Rashid returned to the country after participating in the 80th session of the United Nations General Assembly in New York
Economy, development and electoral democracy in Iraq:
Iraqi democracy,” in its “electoral” version, does not (and will not) allow the disintegration, disintegration, and disintegration of the “old” political and economic system to be replaced by a “new” political and economic system.
“Iraqi democracy,” in its electoral form, is a major part of the “systems” of the so-called “closed political system,” which allows the “old regime” to remain in power for as long as possible, by “obstructing” the rise of new forces capable of “displacing” the necessary (and sufficient) power to build a “new regime.”
One of the most important “outputs” of this closed political system is the “breeding” of successive governments that are not complementary or consistent with each other (methodologically, procedurally, intellectually, and visionarily), even though they are a product of the same “political system.” Consequently, these governments are unable to achieve a development “process” based on inclusiveness and sustainability, nor to build “national-sovereign-supreme” interests that transcend ethnicities, reject “conflicts,” and are independent of the narrow interests of alliances and “components.”
There is another paradox that is sad, and relates to the “fate” of the development process, and the relationship of this “process” to the results of the elections in Iraq. The “development process” is usually long, difficult, gradual, and cumulative (long-term). And it is very expensive on more than one level), and therefore it is a “process” whose requirements and conditions cannot be met through “reviews,” nor can its (short-term) programs and projects be financed through “grants” from governments and “taxes” from mafias.
Elections in Iraq take place every four years, and with each new parliamentary term, a new prime minister is appointed, along with a new ministerial team. This prime minister need not necessarily be among the winners of the elections, but may be politically agreed upon even if he wins one or two parliamentary seats, or even if he does not win any parliamentary seats, or even if he is among the losers. When a “Prime Minister” is chosen by the “winning” parliamentary blocs in the elections, he will not be able (neither he nor the ministers chosen for him) to break the “vicious cycle” of comprehensive chaos and multidimensional corruption, nor to work according to an efficient management model of resources, nor to implement policies that allow for the discipline of public finances (through controlling public spending).
As for the ministers whose council is headed by the “President” (especially those concerned with economic affairs), they do not even know (professionally and cognitively) what the economy is, and they have never worked in the ministries they were assigned to “minister” (because they are merely “quotas” for the political blocs that nominated them for Prime Minister). Therefore, they do not know exactly what their “predecessors” did, nor where they started and where they are going. They finished.. And thus, following the guidance of the noble verse “Whenever a nation enters, it curses its sister”... you can read about “sustainability” peace.
And if you want examples that none of the policies, projects, plans, and strategies of reform and development in Iraq will be able to be implemented, completed, accumulated, or sustained (due to the “closed political system” management style of the economic affair, and regardless of the specialists’ assessment of the realism and feasibility of these “projects,” policies, plans, and strategies in the long term), then we can mention “facts” from the recent and very recent “economic history” of Iraq, to demonstrate this bitter truth, as follows:
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Economy, Development, and Electoral Democracy in Iraq
Ihsan Baban: All prisoners will have their own cards
“Each prisoner will have his own card to withdraw money in order to prevent cash from entering the prisons,” he said.
Ihsan Baban, Director General of Corrections in the Kurdistan Region of Iraq, told Kurdistan24 on Sunday, September 28, 2025: “We have requested that the money sent to the prisoners by their relatives, by bank card, not cash.
The benefits of this card are to limit the amount of money coming into the prisons, as well as control the money coming into the prisons, in addition to controlling the employees in the prisons, each family can register 300,000 dinars monthly.
“Special equipment will be installed in the prisons and each prisoner will have his own card, which will solve many problems,” Baban said.
in the Kurdistan Region. There are 5,802 prisoners in the three prisons of Erbil, Duhok and Sulaimani.
The government adopts the "Oliver Wyman Strategy" for the development road project.
Prime Minister Mohammed Shia al-Sudani chaired the regular meeting of the Higher Committee for the Development Road on Sunday, September 28, 2025, in the presence of the Ministers of Transport and Construction and Housing, the Chairman of the National Investment Commission, a number of advisors and executives, and representatives of Oliver Wyman, the company's private consultant.
Now, operations are removing concrete blocks surrounding the Rafidain Bank in Karkh.
Baghdad Operations Command began removing concrete blocks surrounding the Rafidain Bank branch in the Al-Amel neighborhood on the Karkh side on Sunday, as part of an ongoing campaign to remove encroachments and reduce traffic congestion in the capital. The command emphasized that this step comes within the framework of its efforts to serve citizens and improve the urban landscape under the slogan "Our capital is more beautiful without concrete blocks."
Baghdad Operations Command begins removing the concrete blocks surrounding Rafidain Bank, Al-Amel neighborhood branch, next to Karkh, which encroach on the public sidewalk, and transporting them outside the capital. This comes through the engineering efforts of the Operations Command with the aim of reducing traffic congestion, alleviating the burden on citizens, and serving the public interest.
#Our_Capital_Is_More_
Baghdad Operations Media
September 28, 2025
Good news for Kurdish employees: Erbil and Baghdad unify payroll dates, ushering in a new era of stability.
The Kurdistan Regional Government's representative in Baghdad, Faris Issa, announced on Sunday (September 28, 2025) that employees in the region will now receive their salaries on time with federal government employees, following positive steps regarding the oil agreement between Baghdad and Erbil.
"After the oil agreement, we are close to reaching an agreement on the issue of non-oil revenues, and it is expected to be finalized this week, after which there will be no problems," Issa told the Kurdistan Democratic Party's official website, as reported by Baghdad Today.
He added, "If the issues are not politicized, the region's employees will receive their salaries along with federal government employees on time, which will enhance financial stability."
He explained, "Until the oil and gas law is approved by Parliament, some issues will remain, but the agreement that has been implemented will create stability in Iraq. If any problem arises, political stability will be at risk. Therefore, we have the will, and the Prime Minister is determined to reach an agreement and resolve the differences in accordance with the constitution."
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