Can Iraq be internationally recognized with an exchange rate of 1310?
The answer is, yes. Here's an example: What's the exchange rate of the Vietnamese dong? It stinks. It's not at an international level... Is their currency international? Yeah.
[Iraq] has the potential to come out at a ridiculous exchange rate just like Kuwait did 30 years ago when they went through a re-denomination and a revaluation of their currency...about $15. But it only lasted for about a week and it went back down to 3 to 1
...I
MO it was a window created for the whales and sharks to take advantage of...Iraq has learned from Kuwait mistakes. If you come out at a high rate like that...you destroy everything you worked to create the security and stability of their currency. And it would destroy their economy, GDP, economic reform, monetary reform. Inflation would go up. I don't think we're going to see a ridiculous rate at the onset. But I think we'll see the same rate that is floating in the Middle East which holds the most powerful currencies in the world at 3 to 1 to the dollar.
The Representative of the Secretary-General of the United Nations in Iraq and Head of the UNAMI Mission,
Mohammed Al-Hassan, confirmed today, Sunday, that what unites the two brotherly peoples in Iraq and Kuwait is enough to turn the pages of the past.
The mission said in a statement received by the Iraqi News Agency (INA): that "The Representative of the Secretary-General of the United Nations in Iraq and Head of the UNAMI Mission, Mohammed Al-Hassan, arrived in the State of Kuwait as part of his international missions." "Al-Hassan met with the Emir of Kuwait, Mishal Al-Ahmad Al-Jaber Al-Sabah, and the Crown Prince, Sabah Khaled Al-Hamad Al-Sabah." Al-Hassan stressed according to the statement that "what unites the two brotherly peoples in the Republic of Iraq and the State of Kuwait is enough to turn the pages of the past and open new pages of cooperation and mutual trust."
In this video, Melanie Hind shares a series of updates and insights regarding the current economic and political climate in Iraq, focusing on the Iraqi Dinar and various developments in the country. She discusses recent export achievements, anti-corruption efforts, and the potential for economic growth, particularly in the tourism sector.
Hind addresses various challenges Iraq faces, including fuel smuggling and the effects of international sanctions, while also hinting at possible changes in currency valuation. She emphasizes the importance of auditing and transparency in governance and expresses optimism about the future economic situation. The discussion touches on regional dynamics and how actions by U.S. leadership could impact Iraq’s economy.
Throughout the video, Hind highlights the excitement surrounding potential developments in the Iraqi Dinar market and encourages viewers to engage in civil discourse about the issues at hand.
📦 Record Export Levels: Iraq exported a record-breaking 3,474 containers of national products, indicating a strong month for the country’s economy.
🔍 Anti-Corruption Measures: The Iraqi government is enhancing internal audits as part of its anti-corruption strategy, focusing on transparency and accountability.
🌍 Security Improvements: For the first time since 2003,
smuggling on the Syrian border has reportedly reached zero, reflecting improved border security measures.
💰 Foreign Investments: Iraq is targeting $7 billion in investments for 2025, particularly in the tourism sector, showcasing plans for economic diversification.
📉 Iran’s Economic Struggles: Iran’s currency has hit a 46-year low under U.S. pressure, potentially impacting Iraq’s economic landscape and relationship with its neighbor.
💵 Currency Revaluation Speculation: Discussions around the potential elimination of zeros from the Iraqi Dinar have sparked excitement among investors, with historical comparisons to Kuwait’s currency experience.
🎉 Community Engagement: Hind emphasizes the importance of community dialogue about Iraq’s economic future, urging respectful communication among differing viewpoints.
Key Insights
📈 Record Exports Suggest Economic Resilience: The exportation of 3,474 containers signifies not only a robust performance in trade but also suggests that Iraq is finding its footing in a post-conflict economy. This achievement could boost investor confidence and signal a potential turnaround for the nation’s economic prospects.
The focus on national products also indicates a shift towards self-sufficiency and domestic production capabilities.
🏛️ Importance of Auditing in Governance: Melanie’s emphasis on internal audits reflects a critical component of accountability in governance. By strengthening internal audit processes, the Iraqi government is likely aiming to curtail corruption and mismanagement, which have historically plagued the nation. Enhanced transparency can improve public trust and attract foreign investments, essential for sustainable development.
🚧 Border Security Enhancements: The claim that smuggling along the Syrian border has dropped to zero is a significant milestone for Iraq. It indicates effective implementation of border security measures and a commitment to combating illegal trafficking, which has long undermined the country’s stability and economic growth. This improvement could also facilitate better trade relations with neighboring countries.
🌐 Tourism as a Growth Sector: The projected $7 billion investment in tourism by 2025 represents a strategic move to diversify Iraq’s economy, which has been heavily reliant on oil revenues. By enhancing its tourism infrastructure, Iraq could attract international visitors, generate jobs, and create a more balanced economic framework that is less vulnerable to fluctuations in oil prices.
🇮🇷 Regional Economic Impacts: Iran’s currency devaluation has implications for Iraq, particularly in terms of trade and economic collaboration. As Iran struggles, Iraq may experience both challenges and opportunities. The political dynamics and economic policies of both nations will play a crucial role in determining how they navigate their interdependence amid external pressures.
💸 Speculation on Currency Revaluation: The anticipation surrounding the potential revaluation of the Iraqi Dinar highlights the speculative nature of currency markets. Historical comparisons to Kuwait’s experience with currency redenomination provide a framework for understanding potential outcomes. Investors must approach these developments with caution, as currency fluctuations can have profound effects on personal wealth and economic stability.
🗣️ Fostering Community Dialogue: Melanie’s call for respectful discourse among her audience reflects a broader societal need for constructive conversations about Iraq’s future. In a climate often marked by division and polarization, encouraging dialogue can foster understanding and collective problem-solving. This approach is essential for building a supportive community that can collectively navigate the complexities of economic recovery and political change.
In conclusion, Melanie Hind’s insights into the economic and political landscape of Iraq reveal a complex interplay of challenges and opportunities.
The combination of record exports, anti-corruption efforts, and potential currency revaluation paints a picture of a nation at a crossroads, striving for stability and growth.
As viewers engage with these topics, the importance of respectful dialogue and community involvement becomes clear, underscoring a collective desire for Iraq’s prosperity.
Parliamentary Committee: Budget Amendments Limited To Article On Cost Of Extracting Region’s Oil
House of Representatives Building
Money and business Economy News – Baghdad The Parliamentary Legal Finance Committee confirmed, on Sunday, that there is no fundamental change in the budget law, while indicating that the amendments were limited to Article 12 regarding the cost of extracting oil in the Kurdistan Region.
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a statement reported by the official news agency, and seen by “Al-Iqtisad News”, that “the amendments sent by the Prime Minister’s Office and the Council of Ministers were limited to Article (12) related to the cost of extracting oil in the Kurdistan Region.”
He explained that "the amended article is supposed to come into effect soon, which will allow the start of exporting oil from the region's wells through SOMO," indicating that "according to the recent amendments, there is no fundamental change in the budget law, and no new appointments have been included, but it is possible for the government to move within the budget schedules to reactivate some of the previous specializations and texts." https://economy-news.net/content.php?id=52636
Article: “NATO INVITES IRAQ TO PARTICIPATE IN BRUSSELS GATHERING, PRAISES GOVERNMENT EFFORTS”.
NATO Secretary General Mark Rutte extended an official invitation to Prime Minister Mohammed Shia al-Sudani to participate in the NATO gathering that will be held soon in Brussels, and to deliver a speech on behalf of Iraq during the meeting.
Prime Minister Mohammed Shia Al-Sudani, on Sunday, called on the State of Kuwait to invest in the projects of the vital development road in Iraq.
This came during his meeting today in Baghdad, Kuwait’s Ambassador to Iraq, Hassan Mohammed Al-Zaman.
Al-Sudani, according to a statement issued by his media office, referred to the depth of relations between the two countries, and the importance of consolidating and expanding them at various levels and levels.
During the meeting, the Prime Minister stressed the aspiration to strengthen the ties of constructive bilateral cooperation in several fields, pointing to the opportunities available and the provision of the appropriate investment environment for the work of Arab and foreign companies, including Kuwaiti companies.
The statement quoted Al-Sudani as saying that the door is open for the State of Kuwait to enter into development road projects and benefit from announced investment opportunities, which contributes to enhancing economic integration and interdependence of interests between the two countries.
FIREFLY:TIR is the new cross border payments system. Sammy says we are launching this new system by using this transfer for International and then he says...
this can't be at 1310 because it's going it's going international, saying it will be historic first international cross-border payments using this. We are really close. There's no way we can make the payment at 1310.
FRANK: Yes it's a joke when you think about it all being done at 1310. I agree. We are as close as your breath is to your lungs.
Prime Minister Mohammed Shia al-Sudani chaired the periodic meeting of the Higher Committee for Reconstruction and Investment today, Sunday.
The Prime Minister's media office said in a statement received by the Iraqi News Agency (INA): that "Prime Minister Mohammed Shia al-Sudani chaired the periodic meeting of the Higher Committee for Reconstruction and Investment, in which the investment files under work and implementation were discussed, and the progress in completing investment opportunities in the capital, Baghdad, and all of Iraq was followed up."
"The meeting witnessed the adoption of a number of decisions related to investment projects in the sectors of industry, housing, and service projects. Approval was also given to refer housing projects for members of the Ministry of Defense in Basra and Nineveh."
According to the statement "The meeting approved an additional model for public benefit from investment, especially with regard to the state's share in housing units for new residential complexes and cities projects, where the investor's method of implementing service projects in the field of infrastructure was approved, with a value equal to the state's previously approved share, and the beginnings of implementing this model will be through implementing projects to rehabilitate and expand streets in Sadr City, east of Baghdad." "The committee discussed in its meeting the issue of the new headquarters of the Union of Arab Historians in Baghdad, and Prime Minister directed to resolve the issue by preparing a suitable headquarters in terms of area, location and design."
MZ: I am hearing the liquidity has been released and More groups right now are sending people to e*****e payments ect…in the western direction right now -towards Reno. ..These contacts are at the “upper end “ of some groups. One of my best contacts already went there earlier this week. I hope this means we are close.
MZ: Is it possible we will see something Monday morning? It’s possible.
The Parliamentary Finance Committee confirmed today, Sunday, that there is no fundamental change in the budget law, while indicating that the amendments were limited to Article 12 on the cost of extracting oil in Kurdistan Region.
A member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, told the Iraqi News Agency (INA): that "The amendments sent by the Prime Minister and the Council of Ministers were limited to Article (12) related to the cost of extracting oil in Kurdistan Region."
He explained that "the amended article is supposed to enter into force soon, which allows the direct export of oil from the region's wells through (SOMO) company," indicating that "according to the recent amendments, there is no fundamental change in the budget law, and no new appointments have been included, but it is possible for the government to move within the budget schedules to reactivate some previous specializations and texts."
IRAQ:EIA: Iraq’s oil exports to US exceed 6 million barrels in January
Iraq exported more than six million barrels of crude oil to the United States in January, according to the US Energy Information Administration (EIA), marking a slight decline from the previous month.
Iraq’s crude exports to the US reached 6.231 million barrels in January, down from 6.696 million barrels in December, the EIA data showed.
The agency detailed weekly export volumes, noting that Iraq shipped an average of 152,000 barrels per day (bpd) in the first week of January, 218,000 bpd in the second week, and 336,000 bpd in the third week. Exports dropped in the fourth week, averaging 99,000 bpd.
Iraq ranked sixth among the top crude suppliers to the US last month, behind Canada, Mexico, Saudi Arabia, Colombia, and Venezuela.
Regionally, Iraq was the second-largest Arab oil exporter to the US, following Saudi Arabia, which shipped 11.997 million barrels. Libya ranked third among Arab oil suppliers.
Baghdad-INA The Federal Supreme Court set, today, Sunday, February 11, as the date for considering the appeals submitted against the vote on the three laws.
A statement by the court received by the Iraqi News Agency (INA) stated that it "set February 11 as the date for considering the appeals submitted against the vote on the three laws (general amnesty, personal status, and return of real estate)".
The Federal Supreme Court had previously issued a state order to stop the implementation of the general amnesty, personal status, and return of real estate laws.
[via WiserNow] ...Iraq - has still not put their rate, nor their budget in the Gazette.I believe they're waiting on Saturday or Sunday to do that.
I don't even have an updated rate on the dinar, because redemption center screens have been down for three days straight. We know that the bank screens have been up, and that's fine, but it helps us to get the rates that are on the screen at the redemption centers.
You guys heard what I said about the rate for the dinar that they should be offering us. I said ...anybody that knows what a hundo is knows what I was saying, and we should get treated very favorably on the rates of all the other currencies.
Iraq scrambles to avert energy crisis after Trump’s sanctions move
Shafaq News/ Iraq is scrambling to avert a severe energy crisis after US President Donald Trump revoked its exemption from sanctions on Iranian gas and electricity imports, a move that threatens to cut off nearly 40% of the country’s power supply. Iraqi officials are racing to secure alternative energy sources and prevent widespread blackouts.
Iraq’s Energy Dilemma, Trump’s Order
Since the 1990s, Iraq has relied on electricity rationing due to low domestic power production, with households depending on private generators to make up the shortfall. To meet its energy needs, Iraq imports between one-third and 40% of its electricity and gas from Iran. However, ongoing US sanctions have made it increasingly difficult for Iraq to settle payments for these imports.
On January 31, 2025, Trump signed an executive order ending Iraq’s exemption from sanctions related to Iranian gas and electricity imports. The move, part of a broader sanctions package aimed at Iran, targets Iran’s economic activities, including its energy exports.
The executive order stipulates that the US will take immediate steps to prevent Iraq from using its financial system to facilitate Iranian sanctions evasion and to ensure that Gulf countries do not serve as transit points for Iranian energy exports. The memo also outlines measures to reduce Iran’s oil exports to zero, including shipments to China, and to revoke any exemptions that provide financial relief to Iran.
Iraq’s government now faces a complex challenge in navigating these sanctions, seeking solutions that balance its energy needs with its diplomatic and economic priorities.
Hosting Oil and Electricity Minister in Parliament
In response to Trump’s decision, two members of the Iraqi Parliament’s Oil and Gas Committee, Bassem Naghimash and Kazem Al-Touki announced plans to host the ministers of electricity and oil, along with administrative officials from both ministries, in the coming days to discuss the matter and find solution to exempt the country from sanctions due to importing electricity and gas from Iran.
Speaking to Shafaq News, Naghimash criticized the lack of diversification in Iraq’s gas sources, despite the ongoing crisis surrounding Iranian gas imports. He noted that several alternatives have been proposed, including potential deals with Jordan, Turkmenistan, and Qatar, as well as tapping into Iraq’s gas resources.
However, “the country’s capacity to invest in domestic gas solutions has been hindered by a lack of government financial and logistical support.”
"There are local efforts and capabilities, but they lack financial and logistical support from the government. Meanwhile, our monitoring of the companies that obtained licensing rounds indicates a lack of seriousness in investing in gas, which may be influenced by internal or external factors."
Another member of the committee, Al-Touki, agreed with Naghimash’s assessment, explaining that Qatar had been considered as a potential gas supplier. However, “challenges arose due to the absence of gas platforms in Iraq’s ports, leading the country to rely on Turkmenistan, where gas is transported through pipelines passing through Iran…this deal was also thwarted by US sanctions, as the intermediary company is Iranian-owned.”
Al-Touki stated that the real issue lies not only in sanctions against Iran but also in the broader impact on Iraq. He confirmed that the ministers of electricity and oil would be hosted to discuss potential solutions following Trump’s decision.
“Iran’s gas supply issues were already evident before the sanctions, primarily due to unpaid debts.”
In a prior meeting, Iraq’s electricity minister had suggested supplying a station in the Kurdistan region with fuel and redistributing the electricity to the rest of the country.
As for Iraq’s next steps, Al-Touki speculated that "the government will leverage its diplomatic influence to secure an exemption for Iraq to resolve this issue, as it has in the past."
Potential Impact on Iraq
Saeed Shavardi, an Iranian economic expert, expressed confidence that Iran would continue supplying gas to Iraq despite US sanctions. However, “the final decision rests with the Iraqi government, which will face significant pressure from the United States…the Iraqi government, led by Prime Minister Mohammed Shia Al-Sudani, would prioritize the needs of its people and likely resist US pressure.”
Shavardi also criticized Trump’s decision, calling it an infringement of international law and an unjust move against the Iraqi people. He emphasized that the gas trade between Iraq and Iran is essential for electricity generation and warned that “cutting off the gas supply could lead to widespread protests in Iraq during the hot summer months when temperatures often exceed 50°C. Shavardi further argued that US actions have systematically undermined Iraq’s efforts to address its electricity crisis, despite the presence of major American companies in the power sector.
”
Regarding Iran’s prospects, Shavardi noted that Tehran could find new customers for its gas, given the global demand for energy, especially in Europe, China, India, Pakistan, and Turkiye. He believed that Iran could mitigate the impact of US sanctions by redirecting its surplus gas to these markets, thereby nullifying the effect of Trump’s “maximum pressure” campaign.
Economic expert Nabil Al-Marsoumi warned of severe consequences for Iraq’s economy and society if the US sanctions on Iranian gas imports go into effect.
“Iraq’s electrical grid relies on Iranian gas for about 40% of its supply, amounting to approximately 8,000 megawatts of power. The withdrawal of this gas would create a significant energy shortfall, impacting millions of Iraqis.”Al-Marsoumi explained.
Possible Solutions
Iraq has been working on regional electricity interconnection projects to stabilize energy supplies without depending on imported fuel. In August 2023, Iraq signed an agreement with Turkmenistan to import gas as a partial solution to its power generation challenges.
On January 18, 2025, Iraq’s electricity minister, Ziyad Ali Fadel, confirmed that importing gas from Turkmenistan would reduce the country’s reliance on Iranian gas by 50%. However, he acknowledged that any disruptions to gas imports would directly affect Iraq’s electricity supply. Fadel also stated that domestic gas development projects would take 3 to 5 years to complete, meaning Iraq would remain dependent on gas imports in the interim.
Al-Marsoumi suggested that short-term solutions could include “promoting household solar energy systems, offering bank loans to citizens, deploying floating power stations like Turkiye’s Karadeniz PowerShip, and converting some power plants to use heavy fuel oil or diesel.” He also recommended rationing electricity and implementing scheduled outages.
For long-term solutions, Al-Marsoumi pointed to the construction of infrastructure for liquefied natural gas (LNG) imports at the large Al-Faw port and the development of solar energy projects with companies such as TotalEnergies, ACWA Power, and Masdar. “these projects could add up to 3,000 megawatts to Iraq’s electricity grid within three years.”
Additionally,
Al-Marsoumi highlighted the importance of Turkmen gas as a viable alternative. However, transporting this gas through Iran would require a new contract with an intermediary company and several months of logistical arrangements, delaying its potential impact. “Turkmenistan could supply Iraq with around 4,000 megawatts of electricity, but this would only partially address the country’s needs.”
[via PDK] I am hearing a lot of fun stuff from Iraq and from groups. Expectations are through the roof right now...I am almost afraid to tell you all how excited I am for the next few days and the next week or two.
This roller coaster is bad enough…but I am quite literally bouncing today. I hope and pray we are through by next Saturday.
From Iraq: “Trump makes a decision to prevent Iraq from importing gas and electricity from Iran”
We know Iraq is working on getting its gas facilities up to speed for consuming and using their own natural gas products…as far as electricity-Iraq is going to need a bit of help from the US.
You can expect the US to help build infrastructure in Iraq. In the long run this will bring more stability to Iraq and stop influence from Iran. There needs to be a quick response to make this work.
Prime Minister Mohammed S. Al-Sudani sponsored today the Internal Audit Conference organized by the Federal Board of Supreme Audit under the theme: “Internal Audit is the First Line of Defense Against Corruption and a Pillar of Transparency.” The media office of the prime minister stated in a statement, received by The Iraqi News Agency-INA“ In his speech, Prime Minister Al-Sudani emphasized that the conference seeks to strengthen internal audit mechanisms and reinforce transparency. This aligns with the government program’s primary objective of combating corruption, a fundamental measure for restoring public trust in governance and the political system as a whole. He highlighted the critical role of internal audit as a corrective mechanism that ensures institutional integrity and prevents the misuse of public funds, clarifying that internal audit should not be viewed as bureaucratic obstruction but as a transparent and ethical process that upholds the spirit and objectives of the law before implementing its technical provisions”. The statement added,” Prime Minister Al-Sudani reaffirmed that the statement issued by the Supreme Religious Authority in November of the previous year underscored the government’s unwavering commitment to prioritizing anti-corruption efforts. He emphasized that deviating from this path would impact the fulfillment of other obligations, including combating unemployment, creating job opportunities, advancing economic reforms, and improving public services”. Key Highlights from Prime Minister Al-Sudani’s Speech at the Conference: Internal audit is the first line of defense against corruption, safeguarding government institutions and ensuring their integrity. A total of 12 trillion Iraqi dinars was allocated for service projects across ministries and provinces in 2024. The achievements of the past two years have given citizens hope, strengthened their trust in the state, and fostered optimism that the country is on the right path.
Corruption has become like a mutating virus, adapting itself to the measures taken by audit authorities. The government has implemented decisive anti-corruption measures with full transparency, legal clarity, and adherence to the rule of law. Supporting and enhancing internal audit has been placed at the core of the government’s anti-corruption strategy. Internal audit departments have been elevated to the level of general directorates to strengthen their role in combating corruption. Legislative efforts are underway to establish a legal framework for internal audit directorates, under Article 108 of the Constitution, ensuring their operational independence. The government has supported the recommendations from the First Anti-Corruption Conference, particularly those focused on enhancing internal audit departments with human resources and specialized expertise. Regular performance evaluations of senior officials are essential to ensure the effectiveness and efficiency of government institutions and to prevent corruption. We have directed authorities to expedite the resolution of reports, complaints, and criminal cases within the legally prescribed timeframes. Emphasis has been placed on prioritizing high-profile corruption cases, including those involving significant amounts of public funds and senior government officials, to ensure legal accountability. Strengthening trust in accountability measures is essential to establishing public confidence in the justice system and ensuring effective deterrence. The government is committed to fostering a societal culture of integrity, ensuring that corruption is isolated and rejected within communities. Every effort that has uncovered even minor details of corruption has led to the recovery of significant sums of stolen public funds. The extradition of fugitives and the recovery of stolen assets have become key priorities in Iraq’s international engagements.
