Thursday, July 10, 2025
GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY
GOVERNMENT ADVISOR: THE GOVERNMENT HAS SUCCEEDED IN MANAGING FISCAL POLICY.
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, explained on Friday the reasons for the delay in submitting the budget schedules, while stressing that the government has succeeded in managing the country’s financial and economic policy.
Saleh said, “The financial compass reading, which required the submission of the 2025 budget tables for legal approval under Article 77/Second of the Budget Law, was truly delayed for two fundamental reasons:
1.The first was to await the amendment to the three-year general budget law regarding the value of the region’s oil contracts and the costs of transporting its oil, which were not approved until last February.
2.The other reason relates to the fluctuations that global energy markets were exposed to and the effects of global oil prices on the general budget, which also required rereading some financial constants and variables, whether revenues, expenditures, deficit financing and its sources, more than once due to international geopolitical and economic problems and the major issues that occurred in the global economy at a rapid pace, which led to the generation of volatile shocks in close periods of the current fiscal year, which necessitated hedging against external shocks.”
He added that “all these factors led to the delay in submitting budget schedules to review some of its inputs and outputs,” noting that “there is significant and ongoing cooperation between the legislative and executive authorities in monitoring and managing the country’s financial affairs, with understanding, interaction, and optimization of great importance to ensuring the economic stability the country is experiencing.”
Regarding the impact of delayed budget schedules on projects included in the investment section, Saleh pointed out that, “Based on the Federal General Budget Law No. 13 of 2023, the three-year budget, the federal financial policy was formed based on an approach called ‘fiscal space’, which gave it the high capacity to move dozens of approved and previously suspended strategic government projects forward into implementation. This is what distinguished it with a highly active development wheel in implementing service projects that the country is witnessing without interruption, and its results have become tangible thanks to the success of the three-year budget, in addition to the major projects approved in the 2023 and 2024 budget schedules, which are currently ongoing without interruption.”
He stressed that “the state’s investment approach is proceeding in line with the sustainability of economic development and in accordance with the high positive results currently achieved in growth rates and the great economic stability that the country is witnessing, whether in terms of declining unemployment rates, increasing economic growth, and price stability, in an active and compatible trilogy achieved as a result of the success of the country’s financial and economic policy without interruption in the wheels of public spending, including the current year 2025.”
He continued, “As far as the rights and entitlements acquired in the operational aspect of the general budget are concerned, but have not been disbursed and are contingent upon the submission of the 2025 financial schedules, these are legally protected rights reserved for their beneficiaries and are not subject to statute of limitations. They are merely a matter of timing and will be disbursed upon the approval of these schedules or any adjustment that does not conflict with the law.”
SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII
SANDY INGRAM: The IQD Currency Boom Key? The IMF Article VIII
Summary
In this video, Sandy Ingram discusses the current status and future potential of the Iraqi dinar (IQD) as an investment, focusing particularly on the currency’s prospects for floating freely on the open market.
Iraq’s considerable oil reserves and ongoing reconstruction efforts underpin its medium-term economic outlook.
However, before the dinar can become a viable currency for widespread international trade and investment, Iraq must meet certain financial and regulatory standards, including gaining Article 8 status under the International Monetary Fund (IMF) framework. Article 8 status would signify Iraq’s commitment to open and fair currency exchange policies, boosting investor confidence and integrating the country into the global economy.
The video explains Article 8 in detail, highlighting its role in preventing countries from imposing restrictions on current payments and unfairly discriminating against foreign exchange dealings. While Iraq has not yet achieved Article 8 status, consultations have taken place, and the government is working to modernize its banking system, limit black market activities, and strengthen official currency channels. These efforts are crucial to the dinar’s long-term appreciation.
For investors seeking quicker returns, Sandy suggests looking beyond the Iraqi dinar and considering the Indian rupee (INR). India’s rapidly growing economy, burgeoning tech sector, and increasing foreign investment have created a favorable environment for short-term currency gains. The government’s push for digital infrastructure and payment systems enhances the rupee’s stability. Sandy recommends purchasing physical Indian rupees from reputable sources and holding them until the exchange rate improves against the US dollar. This strategy offers investors a more immediate return compared to the longer-term potential of the Iraqi dinar.
Highlights
- 💰 The Iraqi dinar (IQD) is considered a medium-term investment due to Iraq’s rebuilding and economic modernization efforts.
- 🏦 Article 8 status under the IMF is crucial for Iraq to enable open and fair currency exchange practices.
- 🌍 Article 8 aims to eliminate restrictions on current payments and prevent discriminatory currency actions.
- 📈 Iraq currently does not have Article 8 status but is in consultations and working toward it.
- 🇮🇳 For short-term returns, the Indian rupee (INR) is recommended due to India’s fast-growing economy and tech sector.
- 💳 India’s focus on digital payments and infrastructure upgrades supports currency stability and growth.
- 🏪 Investors can buy physical Indian rupees from reputable online stores for potential quick gains.
Key Insights
🛢️ Iraq’s Oil Wealth as a Foundation for Currency Value: Iraq’s vast oil reserves, among the largest globally, are a fundamental driver of the country’s economic potential. Oil revenues bring substantial foreign currency inflows, essential for stabilizing and strengthening the dinar. However, oil wealth alone is insufficient; economic diversification and effective governance are necessary for sustained currency appreciation. The rebuilding of Iraq’s infrastructure and financial systems will critically influence the dinar’s future value.
📜 Significance of Article 8 for Currency Convertibility and Investor Confidence: Article 8 of the IMF agreement is a benchmark showing a country’s commitment to open currency policies. It bans restrictions on current payments and discriminatory currency practices, fostering trust among international investors and traders. Achieving Article 8 status can lead to increased foreign investment and smoother currency trading. Iraq’s failure to secure this status so far has limited the dinar’s appeal to global markets, but ongoing consultations suggest progress is being made.
💹 Impact of Black Market and Exchange Controls on Currency Stability: Iraq’s government efforts to curb black market currency trading and strengthen official exchange channels are critical for improving the dinar’s reliability. Black market activity undermines official exchange rates and investor confidence, creating volatility and uncertainty. By tightening controls and promoting transparency, Iraq can better regulate its currency and attract foreign investors, which is essential for the dinar’s growth potential.
🇮🇳 Indian Rupee as a Short-Term Currency Investment Opportunity: The Indian rupee offers a compelling alternative for investors seeking quicker returns. India’s fast-growing economy, driven by a booming technology sector and substantial foreign investment, increases demand for the rupee. This makes it a more liquid and attractive currency for traders aiming for short-term profits. Additionally, India’s government initiatives to promote digital payments and modern infrastructure bolster economic stability, reducing some risks associated with currency investments.
💻 Digital Payments and Infrastructure as Currency Stabilizers: India’s focus on digital payment systems and infrastructure development plays a vital role in strengthening the rupee’s value. Digital transactions increase transparency and reduce informal economic activity, which can destabilize currencies. Infrastructure upgrades enhance economic productivity and investor confidence. These structural improvements provide a foundation for sustained currency appreciation, making the rupee more resilient against external shocks.
🏦 Physical Currency Acquisition as an Investment Strategy: The recommendation to buy physical Indian rupees and hold them until the exchange rate improves is a practical strategy. Unlike forex trading, which can be complex and risky, purchasing physical currency offers a tangible asset that investors can control. Buying from reputable online stores ensures authenticity and convenience. This method allows investors to capitalize on currency appreciation without needing extensive knowledge of financial markets.
🌐 Global Economic Integration and Currency Valuation: The video underscores the importance of integrating into the global economy for currency valuation. For Iraq, achieving Article 8 status and modernizing financial systems are pathways to this integration. For India, existing global ties and rapid economic growth have already enhanced the rupee’s standing. Countries that embrace open currency policies and transparent financial practices tend to attract more foreign investment, leading to stronger and more stable currencies. This principle applies broadly and highlights the importance of political and economic reforms in currency markets.
Overall, the video provides a balanced view of the Iraqi dinar’s long-term potential and the Indian rupee’s short-term opportunities, offering investors informed options based on economic fundamentals and regulatory frameworks.
THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ
THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ.
A government source revealed, on Monday (July 7, 2025), the steps taken by the Iraqi government in the field of developing and promoting electronic payments, noting that since the Iraqi government assumed its duties more than two and a half years ago, the importance of a strong and effective banking system has become clear to it, as developing electronic payments and increasing financial inclusion in the country are considered among its most prominent features.
The source added, speaking to Baghdad Today, that “the government and the prime minister considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.”
He continued, “The Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect.” He noted that “these committees include: the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions.”
The source explained that “Prime Minister Mohammed Shia al-Sudani had previously issued a set of decisions and directives based on reports from these committees, which led to significant progress on several indicators in this area during 2025. The digital transformation rate of Iraqi ministries and institutions rose to approximately 32%, up from less than 18% in 2022, representing a growth rate of 78%.”
He added, “The number of bank accounts reached approximately 20 million, compared to 8 million accounts in 2022, a growth exceeding 150%. The number of bank cards also increased to 21-22 million cards of all types, including credit, debit, and prepaid, up from 16 million cards in 2022, representing a growth rate of 38%.”
He pointed out that “the number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth rate of 520%. The number of ATMs also reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.”
He pointed out that “total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion at the end of 2022, with a growth rate of up to 1,400%. Data indicates that the financial inclusion rate in Iraq has reached approximately 40%, after being less than 10% in 2019.”
The source confirmed that “the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible.”
He explained that “these projects include: activating the local card, expected to be completed by the end of 2025, activating the rapid payment project, activating the unified electronic collection application, localizing private sector salaries in line with the government sector, and establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.”
The source expected that “these projects will be completed in less than a year, stressing that their implementation will contribute to moving Iraq to a new level among the advanced countries in this field.”
STATUS OF THE RV, PART. 1 BY MNT GOAT
STATUS OF THE RV
I need everyone to go back to my last Newsletter and listen to the audio commentary when you click on it in the Archives. We can clearly see that Iraq is ready to reinstate their currency and go global with it. It could not be any clearer now. But first there is work to be done with Iran. So, today once again I am going to reinforce to you factors of what is holding this event from occurring.
Let’s dive right into this article about Trump’s policy towards Iraq. You might want to review the article titled “US NETWORK REVEALS TRUMP’S STRATEGY IN IRAQ – URGENT”. You can find all articles in the Articles Section of the Newsletter.
Let’s go deep as I promised you this U.S. foreign policy towards Iraq would eventually come out in the news. It has now come out now in multiple articles as to what the U.S. and the Trump administration is up to.
However, these articles do not say anything really spectacular that, as followers of my blog, you should not already know. Right? What have I been telling you all along? I have been telling you exactly what my CBI contact has been relaying to me from my conference calls to Iraq and she was spot on! 😊
She said many times that, right now “it’s all about Iran”. Okay so let me say it again –” It is all about Iran.” Did you hear me?
The CBI has jumped through hoops to implement the much-needed banking reforms and even made the switch over to digital electronic payments in record time, something they have been trying to do since Dr Shabibi’s days more than a decade ago.
They needed to ditch the dollar and that too we have been waiting so impatiently to see. It’s done! We are now also going to shortly see the Oil and Gas Law in parliament. This too is just about all done.
Next the budget tables for 2025 will be passed on to parliament. We will see all of t his happen suddenly and seemingly all in a short time period.
US NETWORK REVEALS TRUMP’S STRATEGY IN IRAQ – URGENT
US NETWORK REVEALS TRUMP’S STRATEGY IN IRAQ – URGENT
Oil Price Network revealed in a report published today, Sunday, July 6, 2025, that US President Donald Trump is “moving dynamically in Iraq” to implement a new strategy through which he is attempting to confront Chinese and Russian influence in the world.
The network said, as translated by Baghdad Today, that American involvement in Iraqi affairs “is now becoming increasingly deep,” stressing that “it appears that the American president has a strategy centered around two aspects:
1.Through the first, he is trying to force Iran to negotiate by imposing multiple pressures on it, and thus its influence in Iraq.”
2.”The second aspect of Trump’s strategy is an attempt to draw Iraq closer to the Western, and specifically American, sphere of influence, and to reduce Chinese and Russian influence in Iraq, thereby reducing the influence that is now growing in the region.”
The network concluded its report by noting that Trump is also attempting to achieve these goals by threatening economic sanctions against the government in Baghdad and using Iraq’s relationship with Iran as a means of pressuring the Iraqi government.
TIDBIT FROM PIMPY
Pimpy
Article quote: "Oil exports made up 91% of Iraq's $107 billion federal revenue in 2024."
It used to be 95%. 91% means at least they're going in the right direction. They need to diversify their budget a little bit more. They can't rely so much on oil prices.. .Iraq has got to maintain $84 per barrel in order to keep from running a deficit for the year...Right now t's at $68.65 nowhere near that $84.
This isn't good for Iraq...This is not a stable situation...They have a lot of very big projects...
that are really going to benefit their economy...It's just going through the process of getting to that [tipping] point that's a pain in the butt.
AN EXPERT WARNS OF THE US FEDERAL RESERVE’S RESTRICTIONS ON IRAQ’S FINANCIAL AUTONOMY
AN EXPERT WARNS OF THE US FEDERAL RESERVE’S RESTRICTIONS ON IRAQ’S FINANCIAL AUTONOMY
Economic expert, Diaa Mohsen, confirmed on Wednesday that Iraq still lacks independent economic decision-making due to the restrictions imposed by the US Federal Reserve on its funds, warning of the repercussions of the continuation of this situation on the country’s financial autonomy.
Mohsen said in a statement to Al-Maalouma Agency, “After Iraq was released from Chapter VII in 2011, the United States deposited its funds in the US Federal Reserve under the pretext of protecting them,” noting that “the returns resulting from these deposits are much less than what could have been achieved if these funds were invested by the Iraqi government directly or through partnerships with various countries.”
He explained that “Iraq’s continued exposure to these restrictions is unacceptable and deprives it of significant economic opportunities,” stressing that “Iraq’s liberation from the authority of the US Federal Reserve would revive the national economy and open broader horizons for financial development.”
He added that “Iraq remaining hostage to US decisions makes it vulnerable to financial sanctions in the event of any political dispute with Washington, as the latter can simply seize Iraq’s funds or prevent their disposal.”
(The pressure is building for “full” independence. Will Trump give it to them? All I can say now is “I told you so”.)
MNT GOAT : "US NETWORK REVEALS TRUMP'S STRATEGY IN IRAQ - URGENT."
MNT GOAT
"US NETWORK REVEALS TRUMP'S STRATEGY IN IRAQ
- URGENT."
"It appears that the American president has a strategy centered around two aspects:
- Through the first, he is trying to force Iran to negotiate by imposing multiple pressures on it, and thus its influence in Iraq."
- "The second aspect of Trump's strategy is an attempt to draw Iraq closer to the Western, and specifically American, sphere of influence, and to reduce Chinese and Russian influence in Iraq, thereby reducing the influence that is now growing in the region."
"Trump is also attempting to achieve these goals by threatening economic sanctions against the government in Baghdad and using Iraq's relationship with Iran as a means of pressuring the Iraqi government. Join Mnt Goat as we explore Trumps's policy towards Iraq. What will it bring us?
Their words not mine.....
EXPERT WARNS: IRAQ’S FINANCES ARE UNDER “AMERICAN PRESSURE”… AND THE GUARDIANSHIP ENDED IN 2022
EXPERT WARNS: IRAQ’S FINANCES ARE UNDER “AMERICAN PRESSURE”… AND THE GUARDIANSHIP ENDED IN 2022.
Economic expert Ahmed Abdel Rabbo called on the Iraqi government to review the international legal framework for depositing Iraq’s funds in the US Federal Reserve, stressing that continuing to work under Security Council Resolution No. 1483 issued in 2003 is no longer justified after the reasons for which the “Development Fund for Iraq” was established have ended.
In a statement to “Jarida Platform,” Abdul Rabbo said , “In 2021, Iraq paid the full $52.4 billion in compensation for the invasion of Kuwait, and in 2022, the Security Council approved Resolution 2621, which officially ended the international claims file and closed the United Nations Compensation Commission, which removes the main legal cover for keeping Iraq’s funds under direct American supervision.”
He added, “Despite this development, the United States continues to exert economic pressure by restricting dollar transfers from Iraq’s account in New York, causing disruptions in the foreign exchange market and unstable increases in the dollar’s exchange rate against the dinar.”
Abdul Rabbo stressed the need for the Iraqi government to “take the initiative to request a review of Security Council Resolution 1483 and work to diversify foreign reserves, as countries that rely on a currency basket are less vulnerable to the risks of dollar fluctuations.” He called for “the formation of a currency basket comprising no less than 20% of the total reserves, which exceed $100 billion.”
He pointed to the importance of “establishing a sovereign wealth fund to invest oil surpluses under independent and transparent management, similar to Norway’s experience, to achieve sustainability for future generations and reduce the need to hold cash abroad.” He explained that “developing the local financial system, accelerating digital transformation, strengthening the role of private banks, and activating financial hedging tools are urgent priorities.”
At the end of his remarks, Abdul Rabbo emphasized that “achieving Iraq’s economic sovereignty requires unity in political and diplomatic decision-making, and clear parliamentary support for the government in any international financial negotiations, particularly with the Security Council and the International Monetary Fund,” noting that “Iraq is not a poor country, but a rich one.”
AJ 📢Breaking! A MUST READ👇 If you are a Dinar Investor.
AJ
Breaking! A MUST READ
If you are a Dinar Investor.
Iraqi economic & banking expert Samir Al-Nusairi new book Is out now, Iraq’s economic future!
BTW Chapter 5 he addresses the relationship between the official CBI rate and parallel dollar exchange rates!
Chapter 1: Foundations of Monetary Stability
In the first chapter, he was able to conduct a precise and comprehensive analysis of the opportunities, challenges, and steps taken by the Central Bank of Iraq to pursue monetary stability, while reviewing the foundations of monetary policy for the years (2023-2024), so that he (CBI) can complete the banking reform process in 2025 in the new book.
This chapter dives into the Central Bank of Iraq’s efforts to achieve monetary stability during 2023-2024, setting the stage for 2025 to complete the banking reform process.
Chapter 2: Digital Transformation & Electronic Payments
The second chapter comprehensively covered electronic payments, linking digital transformation with the development of electronic payment programs, along with activation projects. It intelligently explored the relationship between current and future payment system development projects, and provided an assessment of the relationship between this effort and information assessment, cybersecurity, and artificial intelligence.
This chapter explores Iraq’s transition from a cash-based to a digital economy, emphasizing electronic payment systems. Moving to a digital economy is a game-changer for Iraq, improving efficiency and transparency in banking.
Chapter 3: CBI’s Third Strategy
In the third chapter, he focused his efforts on the Central Bank of Iraq's third strategy, defining the strategy's objectives and reform methodology, and addressing key issues such as regulating foreign trade financing, lending strategy, foreign reserve management and hedging policies, improving investment, and sources of monetary policy. In this chapter, Al-Nusairi was able to link the many banking areas and activities addressed by the reform plan.
This chapter explans how these strategies interlink to create a robust banking reform plan. BTW I have posted in the past the CBI Third Strategy 2024-2026
Chapter 4: Government & Global Support
Chapter Four discusses how government support for the banking reform project can be provided, as well as the International Monetary Fund's support for the reform plan, with a focus on international economic relations and the government and Central Bank of Iraq's vision for the comprehensive banking reform process.
Key points, Collaboration between local and global entities to drive Iraq’s banking transformation.
Why? External support is crucial for Iraq’s reforms to succeed, ensuring alignment with global standards.
Chapter 5: Exchange Rates & Financial Confidence
In the fifth chapter, he addresses the causes of exchange rate fluctuations and recovery measures, emphasizing the relationship between the exchange rate, the financial and banking reform process, the relationship between the official and parallel dollar exchange rates, government decisions, and strategies for enhancing confidence in the banking sector.
This chapter focus on how exchange rate stability ties into broader financial and banking reforms. The gap between official and parallel dollar exchange rates.(BTW the CBI plans to end the parallel market in the 2nd half of 2025)
Why? A stable exchange rate builds public confidence and supports Iraq’s economic growth.
This New Book 2023-2025 by Iraqi economic & banking expert Samir Al-Nusairi is out now, published by Balit Center in Baghdad! Deposited at the National Library, this is his 13th book in a 20-year career in banking and consulting
Al-Nusairi, with 30+ years in economic institutions and 700+ published articles, offers a precise, scientific look at Iraq’s monetary and financial stability. Praised by CBI Governor Dr. Ali Mohsen Al-Alaq and Professor Dr. Khalil Muhammad Hassan Al-Shamaa, this book is a must-read for anyone interested in Iraq’s economic future!
FRANK26: "1 TO 1 HERE WE COME!!!"
KTFA
FRANK26: "1 TO 1 HERE WE COME!!!"......F26
Government advisor: Three factors have stripped the parallel exchange market of its price influence and diversified our financial reserves.
7/7/2025
The Prime Minister's economic advisor, Mazhar Mohammed Salih, confirmed that the stability of the price structure and the decline in annual inflation rates in Iraq are the result of the success of three integrated economic policies that worked in a coordinated manner within the framework of the state's general economic policy.
Saleh told Al Furat News that "the fiscal policy has contributed significantly to supporting prices through the general budget, whose expenditures constitute more than 13% of the gross domestic product," noting that "this support has been reflected in expanding social safety nets through food baskets, fuel price subsidies, and support for farmers, in addition to providing wide-ranging government services."
He added, "Monetary policy, in turn, has achieved tangible success in maintaining the external value of the dinar by controlling domestic liquidity levels through the introduction of electronic payment systems and increasing demand for foreign currency at local banks via their correspondents abroad. This has contributed to reducing financial transfer times and implementing compliance rules related to money movement risks."
Saleh pointed out that "the third of these policies was price defense through the establishment of a hybrid market network, which provided a wide supply of goods at stable prices and directly impacted the local market by creating price competition that reduced opportunities for speculation. As a result of these three factors, the effects of the parallel exchange market (the black market) were neutralized, especially with regard to generating inflationary expectations, the effects of which gradually faded," he said.
He explained that "there are commodity stocks available to the state and the private sector, some of which have a shelf life of three to five years, particularly with regard to spare parts and durable goods, which enhances market stability in the medium term."
He added, "Monetary policy, in turn, has achieved tangible success in maintaining the external value of the dinar by controlling domestic liquidity levels through the introduction of electronic payment systems and increasing demand for foreign currency at local banks via their correspondents abroad. This has contributed to reducing financial transfer times and implementing compliance rules related to money movement risks."
Saleh pointed out that "the third of these policies was price defense through the establishment of a hybrid market network, which provided a wide supply of goods at stable prices and directly impacted the local market by creating price competition that reduced opportunities for speculation. As a result of these three factors, the effects of the parallel exchange market (the black market) were neutralized, especially with regard to generating inflationary expectations, the effects of which gradually faded," he said.
He explained that "there are commodity stocks available to the state and the private sector, some of which have a shelf life of three to five years, particularly with regard to spare parts and durable goods, which enhances market stability in the medium term."
Regarding the increase in gold reserves, Saleh explained that "this is a successful monetary policy tool for diversifying Iraq's foreign reserves portfolio," noting that "gold represents a safe haven against fluctuations in global exchange rates and interest rates." He added that "this diversification, which includes various foreign currencies and monetary gold, is based on precise international standards to protect the country's assets from value fluctuations between currencies."
Regarding the impact of OPEC+ decisions, Saleh emphasized that "Iraq is part of the international consensus within the organization regarding oil production levels, and that the national oil policy enjoys significant flexibility that enables it to maintain export levels within Iraq's quota, thus mitigating the impact of lower oil prices on public revenues."
In this context, he noted that "Triennial Budget Law No. 13 of 2023 includes flexible financial tools to address any emergency gaps through the possibility of resorting to bridge borrowing from the local financial market, supported by a monetary policy that provides sustainable liquidity through open market instruments, in accordance with the provisions of the Central Bank of Iraq Law No. 56 of 2004."
The advisor concluded his remarks by emphasizing that "the economic stability Iraq is witnessing today is the result of the integration of fiscal, monetary, and pricing policies into a unified framework that promotes sustainable development and supports the implementation of the government's program and comprehensive economic reforms."
Raghad
Subscribe to:
Comments (Atom)
🌟 FIREFLY UPDATE: Iraq’s Currency Shake-Up Could Reshape the Economy 💰 #frank26 #dinarrevaluation
Read also: Q & A WITH GINGER ABOUT HOW PEOPLE WILL RECEIVE NOTIFICATIONS AND THE PROCESS IN THE REDEMPTION CENTERS
