Introduction: Iraq at a Crossroads
According to MarkZ via PDK, Iraq is in a political frenzy as leaders scramble to finalize the Presidential election.
The situation is tense:
US pressure: Risk of sanctions if decisions favor Iran.
Iran influence: Maliki’s pro-Iran stance complicates matters.
Internal gridlock: Leaders feel “between a rock and a hard place.”
The Iraqi Central Bank (CBI) has clarified that its currency is backed by assets and a basket of foreign currencies, operating independently of government politics—a critical point in today’s election drama.
Why No Vote Happened Yet
MarkZ reports:
“No vote in Iraq yesterday for President…They sat down and had a big meeting, then this morning gave themselves a new deadline…even though the constitution already has deadlines…they set a new one for this Thursday.”
The delay reflects political maneuvering between Maliki supporters and US-aligned factions.
Sudani has traveled to Kurdistan to consult with Barzani, seeking resolution on the Presidential seat.
Once the President is seated, candidates for Prime Minister will be announced. Both Sudani and Maliki remain contenders, and back-and-forth discussions continue.
Sudani vs Maliki: The Political Tug-of-War
1. Sudani’s Approach
Seen as a more US-friendly candidate.
Engaging with Kurdish leadership to secure consensus.
Advocates for completing the election cycle without triggering sanctions.
2. Maliki’s Influence
Strong ties to Iranian interests.
Still a viable contender for some Shiite blocs.
Could prolong the election and risk US economic pressure if chosen.
Political Implications
Decision must balance internal stability, US relations, and Iranian influence.
Delay in the presidential vote may impact currency reform and Iraqi financial policies, including the dinara RV/re-denomination plans.
Central Bank Independence
The CBI remains separate from political decisions:
Currency backed by assets & basket of foreign currencies.
Prepared for currency reform regardless of political deadlock.
This independence ensures that financial stability is maintained amid election uncertainty.
Featured Snippet Optimized:
Why was the Iraqi Presidential vote delayed?
The vote was postponed due to political negotiations between factions supporting Maliki and Sudani. Leaders set a new internal deadline for Thursday, despite constitutional deadlines, while ensuring US-Iran balance is respected.
Q&A Section
Q: What is the new deadline for Iraq’s Presidential election?
A: Leaders set a new internal deadline of Thursday, despite existing constitutional deadlines.
Q: Who are the main contenders for Prime Minister?
A: Nouri al-Maliki and Mohammed Shia al-Sudani remain primary candidates.
Q: Why is the Central Bank important in this process?
A: The CBI operates independently of the government, backs currency with assets and foreign currencies, and safeguards Iraq’s financial stability.
Q: How does US-Iran influence affect the election?
A: Choosing Maliki could trigger US sanctions, while bypassing him could anger Iran, leaving leaders politically trapped.
Key Takeaways
Iraq faces a 48-hour decision window for the Presidential election.
Sudani vs Maliki is the core conflict, balancing US-Iran influence.
The Central Bank remains a stabilizing force, keeping currency and financial reforms on track.
Political delays could impact Iraq’s currency projects and international credibility.
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MarkZ
[via PDK] In Iraq: “48 Hours to decide Presidential Election”
There is a mad scramble going on inside Iraq. I was told leaders are desperate to talk with the US and avoid sanctions. What I am being told is they feel like they are in between a rock and a hard place. They feel like with Makiki…if they don’t go with him they are bowing to the US…but If they do go with him…they are bowing to Iran.
The CBI has been very clear...that...They back their money with assets and a basket of other currencies …and is separate from the government.
Question: ...No vote in Iraq yesterday for President why?
MarkZ: “Deadline for the Presidential election revealed” they sat down and had a big meeting yesterday then first thing this morning they came up with some BS. They gave themselves a deadline…even though they already had deadlines that were written in their constitution…but they gave themselves a new deadline of this Thursday. Lots of meetings still going on. Sudani has gone to Kurdistan to talk to Barzani about getting this thing finished. Once they finish seating the President they will announce candidates for Prime Minister. Sudani is still in the running. Many still feel that Maliki could be the one…lots of back and forth going on. They actually were working on HCL in some of the meetings today.
