Militia Man
It's highly likely Iraq would not ever have accession [into the WTO] without having a real effective exchange rate with an international compliant currency.
I just don't see that ever happening because if they were going to do that they would have already have done it but they haven't yet. That is a key component.
💢💢💢IQD RV💢💢💢
Iraq is indeed on the cusp of a transformative economic era, driven by strategic reforms, significant infrastructure projects, and a concerted effort to diversify its economy beyond oil dependency.meobserver.org
The International Monetary Fund (IMF) projects Iraq's GDP to grow by 5.3% in 2025, ranking it among the top performers globally. This growth is attributed to a combination of factors, including a rebound in oil production and the implementation of economic reforms. iraqinews.com
Iraq is undertaking significant initiatives to revitalize its energy sector:Latest news & breaking headlines
BP's $25 Billion Deal: BP has signed a $25 billion agreement with Iraq to redevelop four major oil and gas fields in Kirkuk, aiming to produce over three billion barrels of oil and gas. Latest news & breaking headlines
TotalEnergies' Investment: TotalEnergies has commenced construction on a gas processing facility in Iraq, part of a larger multi-energy initiative aimed at reducing imports and attracting foreign investment. Reuters
These projects are expected to enhance Iraq's energy infrastructure, reduce gas flaring, and contribute to energy self-sufficiency.
The Iraq Development Road is a $17 billion infrastructure project aimed at connecting southern Iraq to Turkey and Europe through a network of railways, roads, and ports. This initiative is expected to generate $4 billion annually and create at least 100,000 jobs, positioning Iraq as a key transit hub between Asia and Europe. Wikipedia+1Eurasia Review+1
Prime Minister Mohammed Shia al-Sudani has declared 2025 as the "Year of Iraqi Industry," emphasizing the importance of supporting industrial growth, agriculture, and youth employment. The government is investing in infrastructure projects, providing financial support to small and medium enterprises, and creating incentives for private companies to invest in industrial activities. Reuters+3Reuters+3meobserver.org+3iraqidinarchat.net
Additionally, sectors such as agriculture and tourism are being explored for their potential to contribute to economic diversification. Iraq's fertile land and rich cultural heritage provide vast opportunities for growth in these areas. meobserver.org
Despite the optimistic outlook, Iraq faces challenges including political instability, corruption, and infrastructural deficits. The success of the economic transformation will depend on effective governance, institutional capacity, and sustained international support. kurdistan24.net
In summary, Iraq is embarking on a significant economic transformation, with substantial investments in energy, infrastructure, and industrial development. While challenges remain, the country's strategic initiatives position it for a more diversified and resilient economy in the coming years.
Foreign Minister arrives in Washington
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein arrived in Washington, DC, on an official visit.
A statement by the Ministry of Foreign Affairs received by the Iraqi News Agency (INA) stated that “Deputy Prime Minister and Minister of Foreign Affairs,
Fuad Hussein, arrived in the US capital, Washington, on an official visit during which he will hold a series of bilateral meetings with a number of senior officials in the US administration.”
The statement added that “this visit comes within the framework of strengthening bilateral relations between the Republic of Iraq and the United States of America, and discussing ways to develop joint cooperation in the political, security and economic fields, as well as discussing regional and international issues of common interest.”
The statement continued, “During his visit, the Minister is scheduled to meet with a number of officials in the US State Department, most notably Marco Rubio, US Secretary of State, in addition to holding meetings with prominent political and economic figures.” link
MarkZ
Comment: I heard that Vietnam is talking with the US Treasury and setting everything up.
MarkZ: That is exactly what they are doing. Vietnam is right now in open talks with our Treasury.
The US says it’s time to stop manipulating your currency and raise it.
Comment: [Guru] Bruce said the dong rate will be higher than we think. MarkZ: I keep being told that as well.
Al-Sudani: Our goal is to meet the needs of the Iraqi market and stop importing from abroad.
Prime Minister Mohammed Shia al-Sudani stated on Thursday that his government's goals include strengthening public-private sector partnerships, meeting the Iraqi market's need for local production, and halting imports.
This came in a speech he delivered during the inauguration of the executive works, via video conference, for six industrial projects in Muthanna Governorate, at a total financial cost of $1.171 billion.
In his televised address, he said that the private sector is the state's true partner in fulfilling various developmental and service obligations and needs for citizens, adding, "We have great confidence in businesspeople in this field and in the facilities provided by the government."
He added, "Our goal is to meet the needs of the local market and stop importing from abroad," stressing the need to meet the needs of the local market, whether for government projects, ministries, governorates, or others.
Al-Sudani continued, "Iraq is currently witnessing a clear push to implement service and construction projects, which requires more diverse materials to meet the needs of this market, regardless of imports." link
💢💢💢IQD RV💢💢💢
Iraq is making significant progress toward joining the World Trade Organization (WTO), marking a pivotal step in its economic reform agenda.
After a hiatus of nearly 16 years, Iraq resumed formal negotiations for WTO membership in July 2024. Trade Minister Atheer Dawood Salman Al-Ghurairi led a high-level delegation to Geneva, where the third meeting of the Working Party on Iraq’s accession was held. This meeting was the first since 2008, signaling a renewed commitment to integrating Iraq into the global trading system. 巴士的報ina.iq+6wto.org+6ina.iq+6
Minister Al-Ghurairi emphasized that Iraq's accession to the WTO is crucial for stimulating economic growth, enhancing transparency, and encouraging foreign investment. He outlined the government's commitment to economic liberalization, focusing on sectors such as agriculture, industry, and services. The accession is seen as a means to diversify the economy and align Iraq's trade policies with international standards. wto.org+5ina.iq+5ina.iq+5
The WTO's Deputy Director-General, Zhang Xiangchen, highlighted the significance of Iraq's accession for regional integration and global trade dynamics. Saudi Ambassador to the WTO, Saqar Abdullah Al-Muqbel, also expressed optimism, noting that Iraq is one of the largest economies outside the multilateral trading system. The support from regional and global partners underscores Iraq's strategic importance in the international economic landscape. wto.orgwto.org+3ina.iq+3ina.iq+3
The fourth round of negotiations is anticipated in the first quarter of 2025. Iraq is expected to submit revised legislative documents and continue discussions on market access for goods and services. The WTO Secretariat plans to organize a Round Table to discuss Iraq's technical assistance needs, further facilitating the accession process. ina.iq+1ina.iq+1wto.org
Iraq's renewed efforts to join the WTO reflect its determination to modernize its economy and enhance its role in the global market. The ongoing negotiations are a testament to the country's commitment to economic reform and international cooperation.
What are the reasons for the decline in the dollar exchange rate against the Iraqi dinar?
On Thursday, April 24, 2025, Professor of International Economics Nawar Al-Saadi revealed the reasons for the decline in the exchange rate of the US dollar against the Iraqi dinar in local markets.
Local stock exchanges in the capital, Baghdad, witnessed a rise in the value of the dinar at closing this afternoon, with the selling price reaching 145,500 dinars per $100, and the buying price reaching 143,500 dinars per $100.
The dollar exchange rate in Iraqi markets rose significantly in the fall of 2024, exceeding 1,550 dinars per dollar, or 155,000 dinars per $100, in some areas.
Trump's policies
Al-Saadi told Al-Jabal, "The current decline in the US dollar's exchange rate cannot be isolated from the global economic and political context, which is undergoing profound transformations. The United States has been facing negative economic indicators for some time, including slowing growth and declining retail sales data, which has reinforced market expectations that the Federal Reserve may move to cut interest rates in the coming period. This trend, by its nature, weakens the dollar's attractiveness as a savings and investment currency and increases pressure on it in foreign exchange markets."
He added, "Furthermore, the economic policies recently adopted by the US administration, most notably the imposition of tariffs on a number of goods, have contributed to raising import costs and increasing inflation rates, which has negatively impacted investor confidence in the performance of the US economy in the medium term."
He continued: "In addition to internal factors, there are also global shifts that are gradually beginning to impact the dollar's standing," noting that "the accelerating trend by some international powers, such as the BRICS countries, toward reducing reliance on the dollar in trade and financial transactions reflects the beginning of the erosion of the monopoly position the dollar has enjoyed for decades. These multipolar policies are beginning to have a clear impact on the balance of monetary power worldwide."
internal factors
Regarding the situation in Iraq, according to the expert, "The recent decline in the dollar exchange rate is due to a decline in local demand during Ramadan, when commercial activity and travel decrease, leading to a temporary decline in demand for hard currency. However, this decline is not sustainable, and the dollar is likely to rise again when demand returns to normal levels, especially with the approach of the summer import seasons, or if obstacles arise in the flow of foreign currency into the Iraqi market."
The professor of international economics concluded his remarks by saying, "The decline in the dollar exchange rate we are seeing reflects a state of economic anxiety and uncertainty rather than a long-term strategic shift."
Al-Saadi stated that "the dollar will not easily lose its global standing, but it is no longer the unrivaled currency, and the world is gradually moving toward new monetary balances that will have profound repercussions for developing economies, including Iraq." link
Frank26
Sudani is teasing parliament like you're a child with a piece of candy. Parliament can see the candy. They can even smell it but they are not allowed to taste it. In fact, they never will.
...They will be completely shut out of this budget, of this process and of the new exchange rate.
The beautiful thing is Iraqi citizens now fully understand this because they know the truth about the monetary reform.
Soon... Indications of an Oil Discovery in Iraq
Positive indicators are increasing that strengthen the chances of announcing a new oil discovery in southern Iraq, amid active government moves to activate the latest licensing rounds and expand the scope of investment in exploration blocks, which will contribute to raising the country's production capacity in the short and medium term.
According to a statement reviewed by the Washington-based Energy Platform, the Joint Management Committee for the seventh exploration block held its first meeting on Wednesday, April 23, 2025, headed by the Director of the Wasit Oil Authority, Engineer Ahmed Mahdi Sabri, and attended by officials from the Chinese company CNOOC, to which the block was awarded as part of the fifth and sixth supplementary licensing rounds.
This meeting is seen as a first step towards a project that could lead to a confirmed oil discovery in one of the richest potential hydrocarbon reserves.
During the meeting, it was agreed to approve the work program and operating budget for 2025, in addition to affirming the joint commitment to implementing global best practices in exploration and development.
Oil discovery site
According to technical assessments conducted by the operating company, Block 7 shows strong initial indications of promising oil reserves.
The geographic scope of the block includes the governorates of Diwaniyah, Hillah, Muthanna, Wasit, and Najaf, giving the project a strategic dimension, particularly as CNOOC intends to adopt advanced technologies that will contribute to enhancing the chances of a highly economically viable oil discovery.
It's worth noting that this move comes as part of the Iraqi Ministry of Oil's efforts to revitalize recently signed licensing contracts, in line with the goals of the government's program and the state's vision to promote comprehensive development.
Oil exploration in Iraq
Iraq's oil exploration portfolio is witnessing a significant shift. On October 27, 2024, the Ministry of Oil signed the final contracts for the latest licensing rounds, in the presence of Oil Minister Hayan Abdul-Ghani. Abdul-Ghani announced that these agreements will contribute to the addition of 750,000 barrels per day of crude oil, in addition to the production of 850 million standard cubic feet of gas per day.
The minister affirmed that the ministry has ambitious plans to develop new exploration blocks, which constitute a pivotal part of Iraq's oil exploration strategy for the next phase.
The contracts cover vast areas, including the Al-Faw, Jabal Sanam, Sumer, Adan, and Abu Khaima fields, in addition to the Al-Khulaisiyah and Middle Euphrates fields, enhancing the geographical diversity of investment opportunities.
Through these tours, the ministry seeks to attract quality investments that will secure the fuel needed for power plants and manufacturing industries, and open up broad prospects for employing Iraqi personnel, making oil exploration in Iraq an extremely important development tool.
Production challenges and international commitments
In contrast, the Iraqi government is still required to reconcile its investment expansion with its international obligations under the OPEC+ alliance.
In April, Baghdad announced its commitment to reduce oil production by 120,000 barrels per day, with the reduction set to increase to 140,000 barrels in May and June to compensate for production overruns over the past year.
During the Sulaymaniyah Forum on April 16, 2025, the Oil Minister stated that Iraq is seeking to persuade OPEC to increase its production quota, at a time when the market is witnessing increasing pressure to control supplies.
Abdul Ghani indicated that his country intends to extend exclusive invitations to American companies, such as Exxon Mobil and Chevron, to strengthen their presence in oil exploration projects in Iraq. link
From the Iraqi guy friend of snwse21
"A friend of mine lives in Switzerland called me and said that the digital Iraqi dinar has appeared on electronic trading platforms in the United States.
But the exchange rate has not changed.
However, in my personal opinion, currencies, including the Iraqi dinar, will appear on electronic trading platforms.
One thing remains: a sudden increase in value"
KTFA
FRANK26: "DIGITALIZATION... NEW EXCHANGE RATE... NEW LD'S... THE FUTURE PURCHASING POWER FOR IRAQI CITIZENS"........F26
Read also: Q & A WITH GINGER ABOUT HOW PEOPLE WILL RECEIVE NOTIFICATIONS AND THE PROCESS IN THE REDEMPTION CENTERS
