🚨🇮🇶 Baghdad Perspective: Iraq's WTO Path Signals the IQD Is Nearing a New Phase 💱🌍
📧 Gmail Thursday, July 16, 2026
🇮🇶 Sheyla Dakkar Says from Baghdad, Iraq
Dear Hernán,
It's been a long time since we last spoke. The latest information we have here in Baghdad is that our Prime Minister's visit to the United States—where key agreements were signed and support was requested for Iraq's accession to the World Trade Organization (WTO)—indicates that our currency must be approaching a revaluation.
🏦 We cannot begin major international business transactions or join the WTO with the Iraqi dinar at its current value. At today's exchange rate, the IQD is not suitable for competing in the international marketplace.
📈 Therefore, we believe the Iraqi Dinar (IQD) is on the verge of increasing in value (revaluing).
Querido Hernán, mucho tiempo sin charlar lo último que tenemos a vos taxativa acá en IRAQ Bagdad es que con la visita de nuestro primer ministro a los EEUU y firmar acuerdos y solicitar ayuda a EEUU ingresar a la WTO significa que nuestra moneda está y tiene que estar a punto de revaluar no podemos iniciar gigantes negocios internacionales y ingresar a la WTO con el valor que en estos momentos tenemos no sirve el DINAR IRAQUÍ internacionalmente. Por lo tanto nuestra moneda IQD está a punto de ir al alza (Revaluar).
🚨🇮🇶 Iraq's Political & Economic Transformation Continues: The Reform Journey Is Well Underway
Today, Iraq continues to move steadily toward becoming a stronger, more stable, and globally integrated economy. While the economic reforms are not yet fully completed, the country has made significant progress and is clearly much further along than it was just a few years ago.
🏛️ Political Highlights
✅ Prime Minister Mohammed Shia' Al-Sudani continues pursuing a balanced foreign policy, strengthening strategic partnerships with the United States while maintaining Iraq's regional relationships.
✅ President Nizar Amidi reaffirmed that Iraq must remain outside regional conflicts, protecting its sovereignty while promoting national stability, democracy, freedom of expression, and long-term development.
✅ The government remains focused on: • Strengthening internal security. • Reinforcing state institutions. • Creating a safe environment for investment. • Advancing economic growth and prosperity.
💰 Economic Highlights
🛢️ Iraq continues attracting billions of dollars in foreign investment into its energy sector.
Major international companies such as BP, ConocoPhillips, and Chevron are expanding long-term projects that reinforce global confidence in Iraq's future.
⚡ Iraq is also working to diversify its energy infrastructure by developing additional export routes and strengthening long-term energy security.
📈 The government's economic strategy remains focused on:
• Expanding private-sector investment. • Modernizing infrastructure. • Increasing non-oil revenues. • Diversifying the economy. • Positioning Iraq as a major regional economic hub.
🏦 Banking & Financial Reform
The modernization of Iraq's financial system continues through:
✔️ Banking sector reform. ✔️ Expansion of electronic payments. ✔️ Stronger AML/CFT compliance. ✔️ Greater financial transparency. ✔️ Reduction of the cash-based informal economy. ✔️ Integration with international banking standards.
🔄 Where Does Iraq Stand Today?
One important point is that Iraq's economic reforms have not yet been fully implemented.
However, the country is well into the implementation process, with many of the foundational reforms already in place while others continue to be rolled out.
Significant progress has already been achieved in:
✅ Banking modernization. ✅ Digital payment systems. ✅ Customs and tax digitalization. ✅ Financial compliance. ✅ Foreign investment. ✅ International cooperation. ✅ Public financial management.
Still in progress are:
🔄 Reducing the parallel dollar market. 🔄 Bringing more of the informal economy into the banking system. 🔄 Expanding the private sector. 🔄 Increasing non-oil revenues. 🔄 Completing financial modernization. 🔄 Continuing government digitization and institutional reforms.
These remaining reforms represent the next phase of Iraq's long-term economic transformation.
🎯 Bottom Line
Iraq is not at the beginning of its reform journey anymore—it has already completed many foundational steps. At the same time, it has not yet reached the finish line. The country continues implementing broad economic, banking, fiscal, and institutional reforms aimed at building a diversified, transparent, investment-friendly economy integrated with international financial standards.
Every major reform completed strengthens Iraq's economic foundation and supports its long-term vision for sustainable growth and financial stability.
Amanj Raheem, Secretary of the KRG caretaker Council of Ministers, told Channel8 that the mechanism for border crossing revenue collection and its distribution remains an unresolved issue with Baghdad, as a proposal has been submitted to the Iraqi Prime Minister.
Iraq continues modernizing its financial and trade systems through the implementation of ASYCUDAWorld, a digital platform designed to improve customs management, increase transparency, and strengthen government revenue collection.
✅ The system is already operating at several federal border crossings, helping digitize processes, reduce revenue losses, and improve international trade control.
⚠️ The remaining challenge is coordination with the Kurdistan Region (KRG), where Baghdad and Erbil are still discussing the mechanism for collecting and distributing border revenues.
🌍 For those following the IQD, these reforms represent another step toward a more organized economy, stronger financial controls, and alignment with international standards.
While this is not a direct RV announcement, a transparent financial system and unified revenue management are important foundations for Iraq’s long-term economic strength. 🇮🇶📈
Every reform adds another piece to Iraq’s economic transformation. 💚
According to Mnt Goat, her contact inside the Central Bank of Iraq (CBI) has shared an important piece of information.
The contact reportedly stated that the new CBI Governor, Dr. Nizar Nasser Hussein, is expected to provide a public update to the Iraqi people on the status of the "Project to Delete the 3 Zeros" very soon.
While no specific date or exchange rate was mentioned, the significance lies in the expectation of an official communication regarding one of Iraq's most important monetary reform projects.
Mnt Goat also explains why this matters. She believes that introducing the lower-denomination banknotes would require a stronger exchange rate, as the current value would make those notes impractical for everyday use. She further states that the original monetary reform plan, developed by Dr. Sinan Al-Shabibi in cooperation with the International Monetary Fund (IMF), envisions that once the "Delete the 3 Zeros" project is completed, the Iraqi dinar would eventually return to the FOREX market with a revalued exchange rate.
The key takeaway from her CBI contact is simple:
📢 An official update on the "Delete the 3 Zeros" Project is expected to be delivered to Iraqi citizens by the new CBI Governor in the near future.
💬 My opinion: This is exactly what many of us have been waiting for. If this update is indeed approaching, it could provide valuable insight into where Iraq stands in its monetary reform process. We have watched banking reforms, economic restructuring, dedollarization efforts, and financial modernization unfold over the past months.
Now let's wait for this expected update on the "Delete the 3 Zeros" Project. We are getting very close, Dinar family! 🇮🇶💵 Keep connecting the dots—the picture continues to become clearer with every new development.
AKI: When you get to 1,000 to 1, then you will see the pips move quick...by supply and demand. That is what's going to determine it. We may not see 'the flip of a switch' but based on supply and demand, we think we will.
WALKINGSTICK: What is your opinion about two months?
AKI: It can, but it is highly unlikely because as of the 10th we are fully restricted to only use our currency. Nobody will use anything other else except the dinar... 1 to 1 can come out at any time they choose.
What does this mean?
According to Aki, Iraq appears to be moving into a new phase where the Iraqi dinar becomes the exclusive currency used for domestic transactions. If demand for the dinar continues to rise while its use becomes mandatory inside the country, market forces could begin playing a much larger role in determining its value.
Aki believes that once the exchange rate reaches approximately 1,000 IQD to 1 USD, the market could react much more rapidly. At that point, he expects supply and demand to become the primary drivers of price movement, resulting in quicker changes in the exchange rate than what has been seen during previous years.
His comments also suggest that the transition may not necessarily occur through one single overnight announcement. Instead, the exchange rate could begin adjusting more dynamically as liquidity, trading activity, and demand for the Iraqi dinar increase. In other words, the market itself may accelerate the movement once certain monetary conditions are reached.
Another important point Aki highlights is the July 10 restriction, which he says limits domestic transactions to the Iraqi dinar. If fully implemented, such a policy would naturally increase demand for the national currency, reduce reliance on foreign currencies within Iraq, and reinforce the dinar's role throughout the country's banking and commercial sectors.
Finally, when asked about the possibility of a 1:1 exchange rate, Aki states that it could be introduced whenever the authorities decide. His view is that once the monetary reforms, currency usage, and market conditions are aligned, the timing of such a move becomes an administrative decision rather than a technical limitation.
Overall, Aki's perspective is that Iraq's monetary reforms are progressing toward a stage where market forces, exclusive domestic use of the dinar, and central bank policy work together, potentially allowing the exchange rate to respond much faster than in the past.