Acknowledging the financial crisis, MP says changing the dollar exchange rate is within the purview of the next government.
Former MP Baqir al-Saadi acknowledged on Monday (February 9, 2026) the existence of a financial crisis in Iraq, while indicating that changing the exchange rate of the dollar in the parallel market will be within the powers of the next government.
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Al-Saadi told Baghdad Today, “There is no disagreement that there is a financial crisis in Iraq, and regardless of its causes, it has begun to cast a clear shadow on the issue of salaries in ministries, agencies and government institutions.”
He added that “the past few weeks have seen many opinions put forward to address the salary crisis, including moving the exchange rate upwards, but such a step can only be taken by the next government,” noting that “the new government will form a high economic committee to study the financial and economic situation in the country and develop objective solutions.”
Al-Saadi explained that “Nouri al-Maliki, as the candidate of the Coordination Framework, placed this file among his priorities, and therefore, as soon as the government is formed, there will be important decisions to correct the course of the economic and financial dimensions.”
He stressed that “raising the exchange rate or maintaining it will be the result of the economic and financial study that will be presented by the relevant committee, and it is not possible at present to confirm or deny this direction,” stressing that “the salaries and entitlements of employees represent a red line for the next government, and the issue of their distribution will be dealt with according to specific timelines and without any delay.”
It is worth noting that the current government's Council of Ministers approved, on July 2, 2023, the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the US dollar against the Iraqi dinar, as follows:
- 1300 dinars per dollar for purchases from the Ministry of Finance.
- 1310 dinars per dollar for sales to banks.
- 1320 dinars per dollar for sales by banks and non-bank financial institutions to the end user.
The financial crisis threatens salaries... Parliament moves to form a finance committee urgently.
The Iraqi state is facing a severe financial crisis that threatens the regularity of salary payments in ministries and government agencies, amid parliamentary agreement to expedite the formation of the Finance Committee to address the effects of the liquidity shortage and ensure the provision of practical solutions to overcome the crisis and secure the entitlements of employees, according to Al-Mada newspaper .
The newspaper, in a report seen by Al-Sa’a Network, quoted its sources as saying that “Iraq is suffering from a financial crisis that is one of the most complex crises in recent years.”
She added that "there is a clear consensus among the parliamentary political forces, with their various titles, that tomorrow's session should be a starting point for accelerating the formation of the parliamentary finance committee ."
She pointed out that "forming the Finance Committee has become an urgent necessity to be present in diagnosing the nature of the crisis, and working to find practical solutions, in addition to hosting relevant parties, in order to secure funding sources capable of alleviating the severity of the crisis ."
The newspaper pointed out that "its repercussions have begun to directly affect the issue of distributing salaries to employees of ministries, agencies and government institutions," indicating that "many official departments in the governorates have not received their employees' salaries to this day, which is a matter of concern, as the salaries of employees represent a red line within the House of Representatives ."
She stressed that "the next stage will witness rapid action to activate the oversight role of the Finance Committee, and direct communication with the government and the Ministry of Finance, in order to develop urgent solutions that contribute to providing the necessary liquidity and ensuring the disbursement of salaries without any delay ."
The newspaper warned that "the delay in salaries is an indication of the great pressures facing the general budget, and calls for the need to develop urgent plans to boost revenues and diversify sources of funding, otherwise the upcoming financial obligations will be more difficult ."
She added that "the almost total dependence on oil as the main source of revenue makes the Iraqi economy vulnerable to fluctuations in global prices, and multiplies the impact of any delay in financial transfers on citizens and employees ."
Experts confirm that the current crisis is not just an administrative delay, but reflects broader challenges in the structure of Iraqi public finances, including weak tax collection, low non-oil revenues, increasing dependence on oil revenues amid fluctuations in global market prices, slow implementation of financial reform plans and oversight of operating expenditures, as well as political pressures and electoral obligations that make it more difficult to manage the budget independently and effectively .
An economist proposes innovative solutions to regulate trade in Iraq
Economic expert Manar Al-Obaidi warned on Monday that high customs tariffs and chaos in supply chains threaten trade stability and raise prices, stressing that the solution lies in gradual and flexible regulation .
Al-Ubaidi said in a Facebook post, which was followed by Al-Sa’a Network, that “the real problem is imposing a high tariff on basic goods such as electrical appliances, without a local alternative capable of meeting the demand, which directly affects prices and the consumer .”
He added that "the second problem lies in the nature of some commercial sectors, such as clothing and furniture, which lack clear supply chains, as the small trader plays the role of importer, distributor and seller at the same time, and most of these rely on informal financial channels because they are unable to deal with approved banking systems ."
He pointed out that "practical solutions instead of confrontation would be a temporary and well-considered reduction in tariffs on some basic goods that do not have local alternatives, as well as the establishment of an electronic platform dedicated to small traders for organized purchasing, through which financial authorities would settle payments and official fees, especially in the clothing and furniture sectors as a first phase ."
He continued: “One of the solutions is to move to a more mature stage based on: studying each commodity category separately, determining an appropriate tariff for it, along with designing flexible import, financing and transportation mechanisms that facilitate compliance with the system without stifling commercial activity .”
He pointed out that "continuing in chaos is no longer a viable option, and a harsh leap into ill-conceived organization is not a successful solution either ."
He explained that "real reform is a smart, gradual approach that balances protecting the economy, sustaining trade, and not burdening citizens with the cost of administrative shocks
The Pentagon signs a $12 million contract to support Abrams tanks at Camp Taji.
The US Department of Defense, the Pentagon, revealed on Monday that it had signed a new contract with General Dynamics Land Systems to provide logistical support and maintenance services for Iraq’s Abrams tank fleet last week.
The ministry stated in an official statement followed by Shafaq News Agency that the contract, valued at $11,994,680, is allocated to support the Iraqi Army’s M1A1SA Abrams tanks and M88A1/A2 armored rescue vehicles.
The statement clarified that the work will take place inside Camp Taji, and that the contract terms are scheduled to be completed by the end of this year.
The U.S. Army's contracting department indicated that the project was funded through foreign military sales earmarked for Iraq, confirming that this latest amendment raised the total cumulative value of the contract with the company to more than $90.9 million.
Camp Taji is one of the most important strategic centers for the maintenance of armored weapons in Iraq, as the Iraqi ground forces rely mainly on American “Abrams” tanks in their combat operations and defensive deployment plans.
The Sudanese president receives the president of the republic and affirms the continuation of the economic revival.
The Sudanese media office stated in a statement received by Al-Furat News that "the meeting stressed the need to strengthen national unity and support the government's steps in enhancing Iraq's pivotal role in the region, while adopting a balanced policy in foreign relations and encouraging dialogue to resolve crises and establish regional security and stability."
According to the statement, both sides also stressed "the importance of resolving the constitutional requirements for forming a government capable of completing the development and economic revival process and meeting the aspirations of the Iraqi people in the next stage."
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Parliamentary signatures to question the head of the Iraqi Investment Authority (documents)
On Monday, a number of members of the Iraqi parliament collected signatures to question the head of the General Investment Authority, Haider Makkiya, regarding administrative and financial corruption cases.
Documents issued by MP Samia Muhammad Al-Ghalaf, which were received by Shafaq News Agency, stated that “Based on the provisions of Clause (Seventh/(c) and Clause (Eighth/e) of Article (61) of the Constitution and Article (27)/Fourth) and Article (31) of the House of Representatives Law No. (13) of 2018 and Articles (56, 58, 67) of the Internal Regulations of the House of Representatives and in view of the availability of evidence and documents that prove the existence of administrative violations and files of administrative and financial corruption in the work of the General Investment Authority, we attach to you a link of the facts and main points that are addressed in the interpellation and the reasons on which our request is based and the approval of the members of the House of Representatives who signed and support the interpellation and the questions with their attachments.”
The documents show the signatures of 63 MPs for the purpose of questioning, and are also signed by the Speaker of Parliament, Hebat al-Halbousi, approving and taking legal action.
Iraq and Oman discuss cooperation in land transport and activating the TIR agreement.
Source: Al-Sudani received a framework proposal to extend the term of his government.
A source within the coordination framework that brings together the ruling Shiite political forces in Iraq revealed on Monday evening that caretaker Prime Minister Mohammed Shia al-Sudani received a proposal to break the political deadlock, which includes extending the term of his government for a year with specific powers.
The source told Shafaq News Agency that "one of the influential political figures in the Shiite bloc handed Al-Sudani a paper that included a proposal to break the political deadlock, in a way that preserves the political and parliamentary rights of the various components."
The source, who spoke on condition of anonymity, revealed that "the proposal calls for extending the life of the Sudanese government for a year with specific and conditional powers to reach solutions to get out of the political deadlock."
Regarding the extent to which this proposal will be accepted, the source said that “Al-Sudani will discuss the proposal with the leaders of the Shiite House in the upcoming meetings of the coordination framework,” noting that “the proposal may face rejection or may find support.”
Leaders and representatives of Iraq’s Shiite, Sunni and Kurdish components (the State Administration Coalition) held a meeting yesterday, Sunday, at the Government Palace, which did not lead to any understandings regarding the resolution of the presidencies of the Republic and the Government.
Al-Sudani had resigned his membership in the House of Representatives yesterday, Sunday, after winning the last parliamentary elections held in October 2025, and obtaining more than 92,000 votes personally, while his alliance as a whole achieved more than 400,000 votes, amounting to 46 seats.
Al-Maliki had renewed his insistence on running for the position of Prime Minister in the next government, despite American rejection of this, stressing that the selection of the Prime Minister is a national matter subject to the will of the people and constitutional institutions.
It is worth noting that the US State Department revealed to Shafaq News Agency last Thursday a firm and strongly worded stance regarding the upcoming political alliances map in Iraq, stressing that the US administration is prepared to use "a full range of tools" to ensure the implementation of President Donald Trump's vision regarding the Iraqi file and to prevent Maliki from running for the position of Prime Minister of Iraq.
As reported by Bloomberg News last Tuesday, Washington informed Iraqi officials in recent days that it might reduce Iraq’s access to oil export revenues if Nouri al-Maliki is appointed prime minister, given the United States’ view of him as being close to Iran, which has increased the pressure on the coordination framework, according to observers.
Nouri al-Maliki, Victoria Taylor Discuss Iraq–US Relations and Balanced Regional Policy
Al-Maliki highlighted the strength of Iraq–US relations, stressing the importance of the Strategic Framework Agreement as a foundation for enhanced cooperation between the two countries.
Nouri al-Maliki, head of the State of Law Coalition, reaffirmed on Monday that Iraq is pursuing a balanced policy in its relations with all countries in the region, emphasizing Baghdad’s commitment to protecting its national interests while strengthening international partnerships.
According to a statement from Al-Maliki’s media office, he received former US Deputy Assistant Secretary of State Victoria Taylor in Baghdad, where the two discussed regional developments and their potential repercussions on Iraq.
During the meeting, Al-Maliki highlighted the strength of Iraq–US relations, stressing the importance of the Strategic Framework Agreement as a foundation for enhanced cooperation between the two countries. He called for the agreement to be activated in the near future to support the development of Iraq’s capabilities across various sectors.
The Strategic Framework Agreement is the foundational bilateral document that governs long-term relations between the United States and the Republic of Iraq. Signed in November 2008 and taking effect on January 1, 2009, it establishes a comprehensive partnership across the political, economic, cultural, and security sectors.
Al-Maliki also underscored Iraq’s readiness to safeguard its relations and shared interests with Washington, noting that deepening ties should focus on sustaining economic partnerships that serve the mutual interests of both friendly nations.
At the regional level, he reiterated that Iraq’s foreign policy is based on balance and openness toward all neighboring countries. He added that ongoing dialogues among national political forces aim to fulfill constitutional requirements and pave the way for the formation of a government capable of meeting the aspirations of the Iraqi people.
For her part, Taylor stressed the importance of Iraq’s pivotal role in the region, describing the country as an active contributor to efforts aimed at restoring stability and enhancing regional security.
The Forex market is stealing the dreams of young people.
The experiences of a number of young Iraqis have shown that the electronic currency trading market (Forex) often turns into a trap for fraud and loss, rather than a source of quick profit.
Saad Karim, 35, lost all his savings after five months of trading when the financial intermediary disappeared, despite the initial profit that had given him the illusion of success. Similarly, Khuloud Nasser, a housewife, lost some of her gold jewelry after encouraging her husband to enter the online trading market, asserting that greed and being deceived by advertisements on social media were the main reasons.
In loss.
Economic experts believe that the reason for this trend is the ease of entering the market and the ability to trade with small amounts, which makes young people, especially the unemployed, vulnerable. Economist Thamer Al-Haimas considers it a form of escapism from unemployment and rising prices.
In the absence of legal regulation, fraud is rampant through fake platforms and unlicensed intermediaries. Iraqi law indicates that trading outside official channels can lead to money laundering and terrorist financing.
Lawyer Ibtisam Riyad stressed the need to regulate the market and protect young people through specific laws and regulations, to ensure the safety of their savings and to reduce chaos and financial exploitation.
Officially... New mechanisms for calculating the customs value of imported goods
The General Authority of Customs announced today, Monday (February 9, 2026), the adoption of new mechanisms for calculating the customs value of imported goods, in implementation of the directives of the Prime Minister, and based on the provisions of the Customs Law No. (23) of 1984 amended, and paragraph (9) of Cabinet Resolution No. (569) of 2025, and in accordance with the approved international rules and standards.
The authority said in a statement received by “Baghdad Today” that “the approved mechanisms will be applied in all customs centers,” indicating that in its first aspect it includes “adopting the customs value established in the commercial lists declared in accordance with the prior declaration (bank transfer) when conducting customs clearance.”
She added that "the customs value will be calculated for goods that have not been declared under the prior declaration based on the values recorded in the records of the General Authority of Customs," noting that "the Valuation Department in the Authority is responsible for receiving requests to determine or amend the customs value recorded in the records, accompanied by official supporting documents, and they will be decided upon within a period not exceeding three working days, based on the applicable law and the international agreements and rules adopted by the World Customs Organization and the World Trade Organization, otherwise the competent authority will bear the legal responsibility."
The commission added that “banks operating in Iraq, under the supervision of the Central Bank of Iraq, will be tasked with verifying the accuracy of the data contained in the commercial statements submitted for the purposes of foreign transfer, including the values recorded therein,” stressing that “the adoption of these mechanisms comes within the framework of enhancing transparency, regulating customs work, protecting public funds, and supporting a stable commercial environment, in line with the government’s directions in financial and economic reform.”
The country’s economic and business circles have been engaged in extensive discussions for weeks, against the backdrop of the implementation of a new package of measures at customs ports and the maximization of fees and taxes on imported goods, as part of the government’s efforts to increase non-oil revenues and tighten control over import and foreign transfer operations.
These measures have led to mixed reactions in the business community. A number of merchants and shop owners complained about increased customs and tax costs, slow clearance procedures at some centers, and the backlog of containers at ports, delaying the release of goods to markets. This, they argued, has impacted the final prices borne by consumers. In contrast, government officials maintain that regulating customs duties and adopting the true value of goods aims to close loopholes for invoice manipulation, curb tax evasion and smuggling, and protect public funds from waste.
Linking customs valuation to pre-declaration and bank transfer, with banks tasked with auditing invoices under the supervision of the central bank, is seen as a new step in a broader project to integrate foreign trade into the formal financial system and reduce reliance on informal payment and transfer channels. However, the implementation method and the speed of transition from the old system to the new one remain controversial, amid warnings that the "shock" of new fees and assessments could put pressure on small traders and market activity. This necessitates—according to economists—a balanced approach that considers both the requirements of reform and the market's and the public's ability to bear its costs.
Iran: We can reduce the uranium enrichment level in exchange for lifting all sanctions.
The head of the Iranian Atomic Energy Organization, Mohammad Eslami, said on Monday that his country is ready to reduce the percentage of highly enriched uranium if the United States lifts all sanctions imposed on it, after talks with Washington resumed.
The head of Iran's Atomic Energy Organization, Mohammad Eslami, confirmed on Monday that Tehran is ready to reduce its uranium enrichment levels, according to the official IRNA news agency.
The agency said that “in response to a question about the possibility of diluting uranium enriched to 60 percent… the head of the Atomic Energy Organization of Iran said that it depends on whether all sanctions will be lifted in return,” without specifying whether this includes all sanctions imposed on Iran or only those imposed by the United States.
This means diluting the uranium by mixing it with components that reduce the enrichment level to prevent the final product from exceeding the specified enrichment threshold.
Sudanese: Economic reforms have government support
Iraqi Prime Minister Mohammed Shia al-Sudani stressed on Monday that moving towards economic reform is a top priority to strengthen the foundations of the national economy, within the framework of government efforts aimed at modernizing the state's financial structure.
During his chairmanship of the Ministerial Council for the Economy meeting, according to a statement from his media office followed by (Shafaqna Iraq), Al-Sudani pointed out that the reform approach is followed enjoys the consensus and support of the national political forces, as it serves the interest of comprehensive development in the foreseeable future.
Maximizing revenues and restructuring the "Collection Directorate"
The meeting, attended by the ministers of foreign affairs, finance, reconstruction, industry, labor, and water resources, as well as the governor of the central bank, witnessed extensive discussions on mechanisms to reduce expenditures and maximize non-oil revenues.
During the meeting, the council approved the administrative structure and ratified the structure of the “Collection Directorate” affiliated with the Ministry of Finance.
Regarding professional competence, Al-Sudani stressed the need to select qualified and honest individuals to work in this directorate, in order to ensure the achievement of the desired financial goals.
Humanitarian and security exceptions in the fuel file
In a move aimed at addressing urgent service and security needs, the Ministerial Council for the Economy approved an exemption for vital entities from the previously adopted decision to reduce fuel subsidies. This exemption includes security agencies, ensuring their continued ability to fulfill their duties in maintaining the country's stability.
It also included immediate ambulance services, to ensure the smooth flow of emergency medical services to citizens without obstacles.
Periodic review of financial impact
The Prime Minister stressed the need to subject every economic measure to review and evaluation.
Al-Sudani stressed the importance of measuring the “financial and economic impact” of decisions before and during their implementation.
He explained that the government is committed to the reform path, which aims to correct the wrong financial paths and provide a sustainable economic environment, in line with the government program that focuses on services and combating financial and administrative corruption.
Government advisor: Fluctuating oil prices are the biggest challenge to economic reform
Saleh indicated in a statement to Al-Furat News Agency that the government is adopting policies aimed at protecting the most vulnerable groups through targeted social support programs, enhancing market oversight to reduce monopolies and speculation, as well as supporting local production to reduce dependence on imports, while providing support to about 2.5 million citizens through social welfare.
He stated that the state seeks to improve basic services in the areas of electricity, health, education, and transportation, due to their direct impact on the lives of citizens and to reduce their financial burdens. He explained that despite the steps taken, the economic reform process still faces challenges related to financial stability, governance, and fluctuating oil prices, in addition to the need to strengthen trust between citizens and government institutions.
He explained that the success of these policies requires continuity in implementation, transparency in resource management, and effective cooperation between the government and the private sector, noting that diversifying the economy and improving the standard of living represents a long-term strategic path through which the government seeks to build a more stable economy capable of meeting the aspirations of citizens and achieving sustainable development.
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