Who is running the Iraqi economy? A series of decisions are being made, and the market is paying the price for the lack of vision.
In Iraq in recent weeks, questions have been escalating regarding the management of economic and monetary files, with a succession of decisions and measures affecting the banking sector, financial transfers, liquidity, the exchange market, and the movement of funds, at a time when an informed economic source believes that some of these decisions were taken amid the absence of an integrated economic vision or a sufficient explanation of their repercussions on the market.
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The source told the Independent Press Agency that the problem, according to his assessment, went beyond the issue of disagreement with a particular economic decision, to the nature of managing the economic file itself, and whether the decisions issued by the government and the central bank come within a coherent roadmap, or are separate measures taken under the pressure of developments and crises, and then their results are dealt with later.
He added that “the Iraqi market is now in a state of almost constant anticipation of the next decision,” considering that decisions that affect the movement of the dollar, transfers, cards, banks and liquidity cannot be treated as limited administrative instructions, because they are directly related to the interests of millions of citizens, merchants, companies and depositors.
According to the source, a number of economic measures during the past period were preceded by media talks and leaks, before moving to more serious stages or to implementation, which he considered an indicator that raises questions about the nature of decision-making and the mechanism for announcing it, especially since the markets are very sensitive to news related to the dollar, banks and liquidity.
He said that “when an economic decision is circulated in the market before its details are officially clarified, speculation begins on it before its implementation begins,” noting that merely talking about new restrictions or instructions may prompt traders and citizens to change their financial behavior, whether by increasing demand for the dollar, withdrawing funds, postponing transfers, or raising prices in anticipation of any possible development.
The source believes that one of the main problems lies in the lack of a detailed economic explanation accompanying some decisions, as the measure is often announced while the citizen and the merchant are left with questions about the reason for its issuance, its duration, its ultimate goal, and whether it is a temporary measure or part of a long-term policy.
These criticisms come at a time of significant transformation in the Iraqi banking system. Since 2025, the Central Bank has been implementing a comprehensive program to reform private, commercial, and Islamic banks, as well as branches of foreign banks. This program requires banks to choose between options such as remaining in the market, merging, or exiting, while adhering to new standards related to governance, compliance, management, and risk. In February 2026, the Central Bank announced that Iraqi banks had completed the phase of selecting these options, paving the way for an assessment of their compliance with the reform requirements.
The Central Bank presents these steps as part of a broad restructuring process for the banking sector and to enhance its ability to integrate into the global financial system, stressing that the new phase aims to strengthen governance, transparency, compliance and develop the institutional performance of banks.
However, the source believes that the scale of these transformations makes the need for calmer and clearer management even greater, because restructuring an entire banking sector has effects that are not limited to bank boards of directors, but extend to deposits, transfers, credit, trade finance, and the citizen’s confidence in the banking system.
He explained that while any broad regulatory measure may be technically necessary, the method of its implementation, its timing, and the management of its repercussions on liquidity and depositors are no less important than the decision itself.
The developments at Al-Taif Islamic Bank during September highlight the sensitivity of the banking sector. On September 8th, the Central Bank of Iraq affirmed that the rights of the bank's depositors were protected, explaining that placing it under receivership was a precautionary supervisory measure. The bank stated it was working to enhance liquidity, regulate withdrawals, and gradually fulfill obligations, prioritizing salaries deposited with it.
The source says that such cases should prompt economic institutions to treat the element of "trust" as an essential part of financial security, because news related to a bank, liquidity, or deposits can quickly have a psychological impact on other banks, even if they are not facing the same problem.
He added that the banking system does not operate on numbers alone, but also on trust, and that any shake-up in depositors’ confidence could lead to an increase in demand for cash and a move away from bank deposits, which contradicts the state’s stated goal of increasing financial inclusion and reducing reliance on cash.
Regarding liquidity, IMF reports reveal that the issue is more profound than a mere temporary shortage or surplus of cash. In its report on Iraq, the IMF noted persistently high levels of excess liquidity within the banking system, explaining that this limits the ability of monetary policy to effectively influence interest rates and credit, and calling for improved liquidity management and enhanced coordination between fiscal and monetary policy.
Here, according to the source, an important paradox emerges: there may be high liquidity at the level of the financial system as a whole, while parts of the market, some banks, or government entities face various difficulties in providing cash or managing financial flows at specific times.
He says that this difference is not adequately explained to the public, which sometimes leads to the term “liquidity” being used in a simplified way, even though liquidity in the central bank differs from the liquidity of the Ministry of Finance, and the liquidity of banks differs from the amount of cash in circulation in the hands of the public.
The IMF also noted in its assessment that the effectiveness of Iraqi monetary policy remains limited due to the weak transmission of central bank decisions to lending and deposit rates, as well as the heavy reliance on the public sector and the nature of the domestic financial system.
The source believes that this picture reveals that the crisis is not due to a single decision, but rather to an economic structure that requires higher coordination between the government, the Ministry of Finance, the Central Bank, banks, and regulatory bodies.
In another context, the Central Bank affirms that it possesses sufficient foreign reserves to meet legitimate demand for foreign currency, finance foreign trade, settle bank card payments, and process travelers' requests at the official exchange rate. In a statement issued on September 19, 2026, the Central Bank attributed the rise in the dollar's price on the local market to speculation, market expectations, and the exploitation of geopolitical circumstances, while emphasizing the continued financing of trade through established channels.
However, the source says that having high reserves alone does not prevent disruptions in the parallel market if citizens or traders face difficulty accessing dollars at the official rate or if restrictions and procedures related to obtaining them increase.
He adds that the difference between the official price and the parallel market in this case becomes an indicator not necessarily of a shortage of reserves, but rather of a gap between the real demand for currency and the ability of official channels to meet it easily and quickly.
The IMF takes a somewhat similar approach, noting in its assessment that simplifying access to foreign currency, improving customs controls, and encouraging the use of the dinar in some transactions are factors that can help reduce the gap between the official and parallel exchange rates.
The source says that addressing the exchange rate cannot rely solely on security or regulatory measures, because the demand for dollars also stems from the structure of the Iraqi economy, which is largely based on imports, and therefore any restrictions on access to foreign currency could quickly translate into commodity prices.
He added: “If the trader imports in dollars, any increase in the cost of accessing dollars will ultimately be passed on to the consumer.”
In contrast, the Central Bank points to the transfer of foreign trade financing to commercial banks and their relationships with correspondent banks, a step that the IMF considered an important development in modernizing the Iraqi financial system.
The Central Bank also announced in July 2026 that it had reached understandings allowing a number of restricted Iraqi banks to return to foreign correspondent channels in currencies other than the dollar after they met the requirements for compliance, governance and reform.
The source considers these measures to represent a fundamental shift in the Iraqi financial structure, but they require a clear transition period, because transferring the transfer system from one system to another and subjecting banks to stricter standards may lead to temporary pressures on some institutions and customers.
He argues that the problem begins when reforms that are theoretically correct are implemented without providing sufficient alternative pathways for the market during the transition period.
He adds that “reform is not measured by the strength of the decision, but rather by the economy’s ability to withstand the decision.”
This issue is all the more important given Iraq's heavy reliance on oil revenues. In a technical report issued in July 2026, the IMF indicated that the Iraqi economy faces medium-term risks related to volatile oil prices, high debt levels, and regional instability, emphasizing the importance of strengthening coordination between fiscal and monetary policies and implementing financial sector reforms.
The IMF also expects, based on its current data for Iraq, that real GDP will contract by 6.8% during 2026, with an expected inflation rate of around 3%.
The source says these indicators make the margin of error in economic decision-making narrower, because an economy that is heavily dependent on oil and affected by government spending, energy prices and regional tensions needs careful management of shocks.
He believes that the government and the central bank should move from a policy of "managing the problem after it happens" to a policy of anticipating crises before they occur.
He added that what is needed is a clear model that answers, before any decision is issued, a set of basic questions: What will happen to the dollar exchange rate? What will happen to liquidity? What will happen to banks? What will happen to traders? And how will the decision affect the prices of goods and the citizen?
The source believes that these questions are not adequately addressed in the official discourse accompanying the decisions.
The issue of coordination between the government’s fiscal policy and the central bank’s monetary policy also stands out, a point repeatedly emphasized by the IMF, particularly with regard to liquidity management, government spending, deficit financing and price stability.
The source says the central bank can use its monetary tools, but it cannot single-handedly address the imbalances resulting from government spending, weak non-oil revenues, a high payroll, or weak domestic production.
Conversely, the government cannot manage economic policy in isolation from the impact of its decisions on liquidity, the exchange rate, and the central bank's reserves.
Hence, the source believes that the real problem is not the multiplicity of institutions, but rather the extent to which there is an “economic command room” capable of unifying decisions and setting priorities.
Regarding the state-owned banks, the IMF indicated that reforming Rafidain and Rasheed banks remains a key issue, with the need to address non-performing loans, capital shortages, governance, and digital infrastructure.
The source believes that any reform of the private banking sector will not achieve its full results if the state-owned banks, which dominate a large part of financial activity, remain in need of deep restructuring.
He says that the private banking sector today faces compliance, oversight, merger, or exit requirements, while reforming the state banking structure remains a parallel challenge that cannot be ignored.
The source asks: "Is the goal to actually build a competitive banking system, or just to rearrange the names of existing banks?"
In his view, true reform should be reflected in the citizen's ability to easily open an account, transfer funds, obtain credit, use his card locally and internationally, and feel secure when depositing his money.
If restrictions increase, procedures become more complicated, and access to funds decreases, citizens may revert to keeping cash outside the banking system, which is the opposite of what the state is trying to achieve.
The source also warns of the impact of repeated decisions on the private sector, explaining that investors need a predictable environment, and that any continuous change in banking, tax, customs or transfer instructions makes calculating future costs more difficult.
He says that capital “fears uncertainty more than it fears difficult decisions,” because an investor can adapt to strict rules if they are clear and stable, but finds it difficult to operate when the rules change frequently.
He points out that economic reform also requires greater transparency in data dissemination, not just advertising.
The source suggests that major economic decisions should be accompanied by an “economic impact paper” that explains to citizens and markets the reasons for the decision, its objective, the expected timeframe for its implementation, the sectors that will be affected by it, and the results that the government or the central bank will consider as a benchmark for its success.
It also calls for the publication of a subsequent evaluation of each decision to see whether the actual results matched expectations.
He adds: "If the results of the decision are not measured, how can we know that it was successful?"
At the same time, it cannot be ignored that the Central Bank operates within a complex financial environment related to international compliance, anti-money laundering and counter-terrorism financing, and the relationships of Iraqi banks with correspondent banks around the world.
The Central Bank has confirmed that its reforms aim to reintegrate Iraqi banks into the international financial system and develop their ability to carry out cross-border transfers in multiple currencies.
But the source believes that the challenge is not choosing between “reform” and “not reforming,” but rather between organized and well-thought-out reform and reform that may have a high transitional cost if it is not managed properly.
To consider any objection to the implementation mechanism as a rejection of reform as an oversimplification of the problem, because the market and the citizen have the right to know the cost of the reform, its timetable and the expected results from it.
In conclusion, recent developments reveal that Iraq is facing a sensitive economic phase in which the issues of banking reform, liquidity, the dollar, government spending, dependence on oil, and international financial relations are intertwined.
While official institutions assert that the current measures aim to build a more efficient, transparent banking sector capable of integrating into the global financial system, critics argue that the speed of the transformations and the multiplicity of decisions require a higher level of coordination, explanation, and transparency.
The question posed by the source remains: Who has a complete economic vision for Iraq?
Is there a clear plan linking the decisions of the Central Bank with those of the Ministry of Finance, the government, trade, customs, and banks, or does each institution operate within its own sphere of influence, and then the market is later asked to bear the consequences?
The source concludes by saying that Iraq does not need more decisions as much as it needs “one comprehensive economic decision in one direction,” because the economy is not managed by experimentation, and the citizen, the merchant, and the bank should not be a testing ground for policies.
Ultimately, the decision can be amended, and new instructions can be issued, but trust, once damaged, is much more difficult to restore.
The question that will remain for the government and the central bank during the next stage is: Are the decisions driven by a clear economic vision, or are the decisions driven by crises?
Prime Minister: The government is proceeding with restructuring the fundamental aspects of fiscal policy in Iraq.
Prime Minister Ali Faleh al-Zaidi affirmed on Wednesday that the government is proceeding with restructuring the fundamental pillars of fiscal policy in Iraq.
The Prime Minister's Media Office stated in a press release received by the Iraqi News Agency (INA) that "Prime Minister Ali Faleh al-Zaidi met in New York, after midnight on Tuesday, Baghdad time, with Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), and his accompanying delegation." The statement
added that "the meeting addressed developments in the global economic landscape, the repercussions of the crisis in the region and its impact on markets, prices, supply chains, and inflation rates, as well as its effects on energy consumption and oil prices."
According to the statement, the Prime Minister emphasized that "the government is proceeding with restructuring the fundamental pillars of fiscal policy in Iraq through expanding the automation system and gradually transitioning towards a program and performance-based budget, within the framework of the 2027 budget project."
For his part, Azour affirmed the IMF's readiness to continue cooperating with Iraq and strengthening the path of economic and financial reforms, in a way that contributes to consolidating financial and economic stability in Iraq.
Breaking | Optimism on the Iraqi street... President al-Zaidi defuses the situation and manages to convince the Americans: 9 months to permanently close the weapons file in Iraq
Prime Minister Ali al-Zaidi is taking a new timetable to New York for the state's monopoly on weapons, extending from the end of September this year until June 30, 2027. This timetable is based on a phased approach rather than a direct disarmament of factions. The first three months will be dedicated to halting independent military activity and preparing for the handover and integration of weapons, before moving to the implementation phases, which are expected to end the existence of independent armed groups by the middle of next year. A well
-informed political source revealed to Iraq Observer that "al-Zaidi's proposed timetable considers September 30 as the starting point for implementation, not the end. The following nine months will be divided into different phases related to halting military activity outside state orders, regularizing the status of fighters, handing over weapons, and ultimately dismantling independent military structures."
The source added that "the initial ninety-day period is not an open-ended extension for the factions, but rather a testing phase to assess their commitment. During this period, they will be required to cease all operations or attacks not authorized by official orders, and to refrain from moving or using weapons outside state institutions, while negotiations on the handover and integration mechanisms are completed."
The beginning of this process coincides with what al-Zaydi revealed in an interview with the New York Times, when he said that the plan would begin with a 90-day period during which the factions would refrain from launching attacks, in exchange for guarantees that they would not be subjected to American strikes. After the end of this period, the process of handing over weapons would begin, with the file to be completed by June 30, 2027.
The Monitor also reported that US Special Presidential Envoy to Iraq Tom Barrack spoke, following al-Zaidi's meeting with US Secretary of State Marco Rubio in New York, about an agreement stipulating that by the end of June the state would be the sole entity possessing military force, while the plan faces rejection from factions that still cling to their weapons.
From appeasement to surrender
According to the informed source, “The Prime Minister’s approach is not based on dissolving the Popular Mobilization Forces or altering their legal status, but rather on ending dual military affiliation, so that a fighter is no longer part of an official institution while simultaneously being linked to a separate military structure, command, and decision-making process.” The source
explained that “the proposed approach involves dealing with members of factions who wish to continue their security work individually and integrating those who meet the criteria into official institutions, while simultaneously dismantling independent armed groups and command structures operating outside the state’s military hierarchy.”
Heavy weapons
will be prioritized, according to a source familiar with the matter who spoke to Iraq Observer. The source explained that “priority in the handover process will be given to weapons that represent a military capability that should not exist outside state control, primarily missiles, drones, launch systems, and heavy weapons. The remaining types will be subject to inventory and handover mechanisms determined by the relevant security authorities.” The source
added that “the government does not want a showy handover of limited quantities of weapons, but rather a verifiable mechanism that ensures knowledge of what the formations included in the plan possess, what has actually been handed over, where it will be stored, and the official entity that will be responsible for its control.”
A 90-day deadline and a crucial condition: Washington reveals details of al-Zaydi's plan to disarm the factions.
US Special Presidential Envoy to Iraq, Tom Barrack, announced a strategic agreement stipulating that all weapons would be exclusively in the hands of the Iraqi state and that all illegal armaments would be eliminated by the end of June 2027. He emphasized that, under the new arrangements, official security and military institutions would become the sole legitimate authority possessing military power in the country.
This American revelation, according to a detailed report published by Al-Monitor, came in the wake of high-level talks held by Iraqi Prime Minister Ali Faleh al-Zaidi with US Secretary of State Marco Rubio in New York, which coincided with the Iraqi government's announcement of a comprehensive national plan to disarm the factions and dismantle their military structures while integrating their compliant members, within legal frameworks, into the official state institutions.
The agreed-upon implementation plan includes a precise timetable beginning with a 90-day preliminary and confidence-building phase, during which armed factions pledge to completely cease all military operations and attacks, as a crucial preliminary step preceding the actual commencement of inventory and handover of weapons and military equipment to government authorities.
This move is of exceptional importance as it lays the foundations for a new identity in the relationship between Baghdad and Washington. It coincides with Iraqi diplomatic efforts at the United Nations and the approaching deadline of September 30 for the withdrawal of international coalition forces from Iraq, reflecting the federal government's desire to fully assert its sovereignty and ensure sustainable security and economic stability, paving the way for the post-coalition era.
CBI limits traveler access to official-rate dollars twice yearly
The Central Bank of Iraq (CBI) has reduced the frequency at which travelers can obtain US dollars at the official exchange rate, limiting access from once a month to twice a year, informed sources told Rudaw on Tuesday.
The new measure took effect at noon on Monday through the CBI’s electronic application system for travelers seeking dollars, according to three sources in banks, airlines and travel agencies in Iraq and the Kurdistan Region who spoke to Rudaw's Hastyar Qadir.
Under the revised procedure, travelers can obtain the subsidized dollars once every six months rather than monthly.
“Previously, even if a passenger traveled at the end of a month and received the Central Bank's dollars, they could benefit from it again at the beginning of the following month,” an owner of a travel agency told Rudaw. “Under the new decision, they can only receive dollars twice a year, meaning once every six months.”
Ahead of the reduction, the CBI sold US dollars to travelers at 1,305 Iraqi dinars per dollar, with each traveler eligible to purchase up to $2,000 at the official rate each month.
The Iraqi dinar has been losing value against the US dollar in recent days, with the dollar trading at 1,575 dinars on the Kurdistan Region's local market on Tuesday.
Ata Anwar, head of the Association of Tourism Companies in Sulaimani, said the sector had been informed of the change through partner companies in central and southern Iraq, although airports had yet to receive a formal written directive.
“We were informed through our partner companies in central and southern Iraq that this decision was issued by the Central Bank; however, the directive has not yet been officially delivered in writing to the airports,” Anwar told Rudaw.
However, Rudaw has learned that an internal notice circulated by an airline to its branch offices confirmed that the measure had taken effect. Staff were instructed to verify how many times a passenger had traveled during the year before processing travel and dollar applications, in order to prevent requests from being rejected.
An official from a licensed bank told Rudaw that the measure was prompted by a shortage of cash dollars and the CBI’s effort to channel greater amounts of foreign currency toward trade and imports.
“This Central Bank measure is driven by two reasons: first, a shortage of cash dollars available to the bank, and second, an effort to allocate larger amounts of dollars to trade and imports rather than to travel,” the bank official said.
However, the CBI said Saturday that it has sufficient foreign reserves to meet demand for dollars, as the Iraqi dinar continued to lose value in local markets and the dollar approached 1,600 dinars last week.
The bank attributed the dollar’s rise to “market speculation, expectations, and the exploitation of geopolitical conditions in the region” without identifying those responsible.
In July, the CBI cut travelers’ monthly dollar allowance from $3,000 to $2,000 to promote electronic payments and ensure fairer foreign-currency distribution.
The CBI's recent statement came as its foreign reserves fell to $80.633 billion at the end of July, down from $97.432 billion at the end of 2025, a decline of about 17.2 percent in the first seven months of the year.
Trump tells Middle East leaders US-Iran talks have ‘momentum’
Trump hosted top officials from the Gulf Cooperation Council states, Turkey, Syria, Lebanon, Jordan and Iraq on the sidelines of UN General Assembly.
Following a meeting with Middle Eastern leaders on Tuesday, US President Donald Trump said there was “a lot of momentum” toward a deal with Iran, hours after suggesting the United States could either strike a deal with Tehran or “annihilate” it.
“I think there’s a lot of momentum for them to make a deal,” Trump said. He said that the US is aiming to “completely isolate Iran financially,” adding that “hopefully they’ll do the right thing fast before it's too late, you know it's going to be a time when it's too late and we won’t have a chance of letting them survive as a nation.”
Trump also pointed to Iran’s nuclear program, saying that preventing Tehran from obtaining a nuclear weapon remained a central objective of the US campaign.
“A big portion of what we’ve done, maybe 99% of it, is to make sure that Iran doesn’t have a nuclear weapon, those sites have been blown up,” Trump said. “We may have to blow up another one, Pickaxe Mountain. We’re not seeing a lot of activity there, but if we do, we’ll blow it up immediately.”
Trump has repeatedly threatened to strike Pickaxe Mountain, a heavily fortified site near Iran’s Natanz uranium enrichment facility. The Iranian government has previously described Pickaxe Mountain as a centrifuge assembly plant but a lack of international inspector access since its construction in 2020 has raised concerns it could be used for other covert purposes, such as uranium enrichment.
Tuesday's meeting brought together Trump, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, Iraqi Prime Minister Ali Al-Zaidi, Jordan’s King Abdullah II, Turkish President Recep Tayyip Erdogan, Syrian President Ahmed al-Sharaa, Lebanese Prime Minister Nawaf Salam, Egyptian Foreign Minister Badr Abdelatty, Saudi Foreign Minister Prince Faisal bin Farhan and Kuwait’s Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah.
Asked by Al-Monitor whether there was consensus on a pathway forward, US Ambassador to Turkey and special envoy for Syria and Iraq Tom Barrack said "there's a consensus that we need a way forward, that's the only consensus."
Separately, Jordan's King Abdullah told Al-Monitor that the meeting was "very good."
The meeting on the sidelines of the UN General Assembly in New York came as the war stretches into its seventh month, traffic in the Strait of Hormuz remains disrupted and the Iran-backed Houthis are escalating their attacks against Saudi energy and oil sites.
“I have a big decision to make,” Trump said in his roughly 35-minute address to world leaders earlier on Tuesday. “Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before, maybe one of the greatest in the Middle East or even the world? Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?”
Earlier Tuesday, senior US and Iranian officials held three hours of talks that Trump called “very productive,” with another meeting planned for the “near future.” Trump’s Middle East advisers, Jared Kushner and Steve Witkoff, attended the talks. Iranian state media confirmed that such a meeting took place on Tuesday.
“I feel very good right now,” Witkoff said when asked by a reporter about the meeting.
Gulf Arab states have sought to maintain diplomatic channels with Iran as the conflict continues. On Sunday, UAE presidential adviser Anwar Gargash told Al-Monitor that discussions between Washington and Tehran should be accompanied by a parallel regional dialogue. "We need a new mindset that these sort of discussions about what sort of region we all want, what sort of stability we all pray for and what sort of essentials of development — which is very much linked to stability, this sort of discussion — while it can happen at an Iranian-American level, it should also take place at an Iranian-Arab level," Gargash said.
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Tom Barrack: Disarming Armed Groups Is Crucial for Iraq and Its People
The US special envoy for Syria and Iraq says disarming armed factions is a crucial issue for Iraqis and voices Washington’s support for Prime Minister Ali al-Zaidi’s efforts to bring weapons under state control.
US Special Envoy for Syria and Iraq Tom Barrack has described the disarmament of armed factions in Iraq as a crucial issue for the country and its people, while praising Prime Minister Ali al-Zaidi’s efforts to bring weapons under official state control.
Barrack made the remarks on Tuesday, in comments to Al Arabiya, where he addressed the ongoing process of bringing uncontrolled weapons in Iraq under state authority.
Barrack expressed hope that the process of disarming armed factions in Iraq would succeed, stressing the importance of the issue for Iraq and Iraqis.
He also voiced Washington’s support for the steps being taken by Prime Minister Ali al-Zaidi, praising his efforts to address the issue of weapons held by armed groups.
In his remarks, Barrack said: “We hope that the disarmament of the factions in Iraq will succeed.”
He also described the disarmament of armed factions as “an important issue for Iraq and Iraqis.”
Praising the Iraqi prime minister’s efforts, Barrack said: “The prime minister of Iraq is doing a great job disarming the factions.”
Barrack had previously told Al-Monitor that the weapons of all armed groups in Iraq would be brought under control by 2027, with the state becoming the country’s sole armed authority.
He indicated that Washington and Baghdad were approaching one of Iraq’s most sensitive issues, placing the question of multiple armed forces under a decisive timeline.
Following a meeting between US Secretary of State Marco Rubio and Iraqi Prime Minister Ali al-Zaidi, Barrack said both sides had reached the view that, by the end of June next year, the state should be the only authority responsible for armed forces and that all weapons should come under official control.
The joint step between Washington and Baghdad opens what Barrack described as a decisive phase toward ending the influence of unofficial armed forces across the country, with security and military decisions no longer being made outside legitimate institutions and the authority over weapons consolidated under the law.
Government spokesman: President Al-Zaidi will meet with the US president today.
Government spokesman Haider al-Aboudi confirmed that Prime Minister Ali Faleh al-Zaidi will meet with US President Donald Trump on Tuesday evening, New York time, as part of an intensive agenda on the sidelines of his participation in the 81st session of the United Nations General Assembly.
Al-Aboudi explained, in a statement followed by “Iraq Observer”, that the Prime Minister held a series of meetings with leaders and heads of state, and also participated in an expanded meeting chaired by the US President with the attendance of 13 countries from the region.
He added that Iraq’s participation agenda in New York is entirely economic in nature, given the government’s adoption of economic solutions based on strategic projects, foremost among them the “Development Road” project, opening alternative routes for marketing oil to global markets, securing energy supplies, and expanding investment partnerships.
The Prime Minister emphasizes the importance of expanding partnerships with major international companies to develop the oil sector.
Prime Minister Ali Faleh al-Zaidi emphasized on Wednesday the importance of expanding partnerships with major international companies to develop the oil sector.
The Prime Minister's Media Office stated in a press release received by the Iraqi News Agency (INA) that "Prime Minister Ali Faleh al-Zaidi met in New York, after midnight on Tuesday, Baghdad time, with ExxonMobil CEO Darren Woods and his accompanying delegation."
The statement added that "the meeting addressed prospects for cooperation and partnership with ExxonMobil in the areas of oil exploration and the development of existing fields, contributing to increased production and optimal investment of oil resources."
According to the statement, the Prime Minister stressed the importance of expanding partnerships with major international companies and leveraging their expertise and modern technologies to develop the oil sector, given Iraq's focus on increasing its production capacity and enhancing the efficiency of investment in its natural resources.
The Prime Minister affirms to a delegation from the American company HKN the government's intention to organize the Baghdad Energy Conference.
Prime Minister Ali Faleh al-Zaidi, during his meeting with a delegation from the American company HKN in New York, affirmed the government's commitment to organizing the Baghdad Energy Conference, which will witness the announcement of new exploration blocks in Iraq.
The Prime Minister's Media Office stated in a press release received by the Iraqi News Agency (INA) that "Prime Minister Ali Faleh al-Zaidi received in New York, after midnight on Tuesday, Baghdad time, the Chairman of the Board of Directors of the American company HKN, Ross Perot, and his accompanying delegation. HKN is a company specializing in the exploration and development of oil and gas fields."
The Prime Minister called on the company to redouble its efforts, accelerate the pace of work, and increase the execution hours of its projects and contractual obligations in Iraq, particularly those related to increasing oil production.
He indicated the government's intention to organize the Baghdad Energy Conference, which will witness the announcement of new exploration blocks in Iraq, representing significant investment opportunities for major international companies. He explained that the government will work to overcome obstacles and address problems that could delay the implementation of projects and the companies' commitments.
For its part, the company's delegation expressed its readiness for further cooperation, increased working hours, and accelerated execution to enhance the speed of completion and commitment to achieving the objectives.
Iraq has a say
Iraq’s participation in the (81) session of the United Nations General Assembly coincides with a number of crucial transitional milestones that Iraq wants to emphasize and announce, and there is no better occasion and international platform than this to convey them to the world.
The most prominent of these steps is the reaffirmation of Iraq's independent decision-making, which was best exemplified by its stance on the regional conflict. The second is the focus on ambitious plans to reform the economy and address the weaknesses it has suffered as a result of ineffective economic policies, both past and present. Finally, and perhaps most importantly, there is the completion of sovereign agreements with the United States and the presentation of the Iraqi state's plans regarding arms control and the transition of relations between the two countries from security matters to a phase of sustainable partnership.
The presence of Prime Minister Ali al-Zubaidi and the anticipation surrounding his speech there will have a significant impact on reaching conclusions on these issues that align with the Iraqi government's objectives. Yesterday's statement by the US Special Presidential Envoy to Iraq, Tom Barrack, was particularly noteworthy. He announced a "decisive agreement to restrict weapons to the Iraqi state and to resolve the issue definitively by the end of June (2027)," a development considered a victory for Iraq's position as it comes in response to a proposal put forward by al-Zubaidi's government.
The speech that the Iraqi Prime Minister will deliver will certainly include a detailed presentation of all positions on regional and international developments, but the most important thing in it will be a statement of Iraq’s position on the challenges it faces, both politically and economically.
Al-Kinani: Washington has set 10 points for the continued transfer of Iraqi funds
Economic and strategic expert Nasser al-Kinani revealed on Monday that the United States has set ten conditions for the continued transfer of Iraqi funds, including the surrender of weapons. He emphasized that these funds belong to Iraq and are not a US grant.
Speaking to the Information Agency, al-Kinani stated, "The United States has set ten conditions for the continued transfer of funds to Iraq, including the surrender of weapons and other matters, even though these funds are Iraqi and no entity has the right to withhold them from Iraq."
He added, "Any funds Iraq needs must be requested by the Central Bank of Iraq from the US Federal Reserve for transfer, even though these funds are Iraqi revenues from oil sales and are not American charity or a grant."
He explained that "the solutions are simple; a request can be submitted to the United Nations to confirm that Iraq is not indebted and that controlling Iraqi funds constitutes an infringement on Iraqi sovereignty." He also noted that "the Iraqi negotiator was weak from the beginning and was unable to defend the rights of the Iraqi people."
Al-Kinani pointed out that "an agreement was reached in 2010 to end the transfer of Iraqi funds to the Federal Reserve, and it included three obstacles imposed by the United States, which previous and current Iraqi governments have been unable to overcome."
He added that "the argument that funds were going to entities claiming financial dues from Iraq has ended, especially after the payment of the last amount claimed by Kuwait, which was $1.65 billion." He considered that the absence of other entities claiming financial dues from Iraq eliminates the justifications for continuing to control Iraqi funds.
A politician stated that forces linked to Washington are promoting linking the dollar to the withdrawal process and the factions.
Political analyst Ali Al-Tawil believes that some political forces that consider themselves representatives of the American side in Iraq are seeking to promote the imposition of economic sanctions and reduce the sending of dollar shipments to Iraq after September 30.
Al-Tawil told Al-Maalouma, “American hands in Iraq have the most prominent role in the issue of the rise in the dollar exchange rate in local markets, as Washington seeks to send a message that the American withdrawal from Iraq will negatively affect the Iraqi economy.”
He added that "America is threatening to reduce dollar shipments to the country if it does not move towards fulfilling its desires," noting that "there are parties inside and within the political class who benefit from the American threats against the resistance."
He pointed out that "some political parties stand with the American plans against the resistance, as they support Washington's actions and intentions, in addition to standing with ISIS terrorists and some regional countries."
He explained that "some political forces are closely linked to the American administration and work to serve Washington's interests. These forces are promoting economic sanctions, reducing dollar shipments to Iraq, and linking this to the American withdrawal and the issue of factions after September 30th.
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