Friday, December 26, 2025
AMONG THE MOST PROMINENT SOLUTIONS ARE REDUCING EXPENSES AND SALARIES… AN ECONOMIC EXPERT PRESENTS SOLUTIONS TO THE FINANCIAL CRISIS IN IRAQ
AMONG THE MOST PROMINENT SOLUTIONS ARE REDUCING EXPENSES AND SALARIES… AN ECONOMIC EXPERT PRESENTS SOLUTIONS TO THE FINANCIAL CRISIS IN IRAQ
On Friday, the head of the “Iraq Future” Foundation, economist Manar Al-Obaidi, ruled out the possibility of non-oil financial revenues replacing oil revenues in covering the expenses of the Iraqi state and the monthly salaries of employees and workers in the public sector in the country.
This came in a post by the economic expert on the social networking site “Facebook” in which he spoke about what is being circulated about the possibility of the country being exposed to a severe financial crisis, according to what media reports indicate recently.
Al-Ubaidi criticized what he called “the proliferation of rosy voices that sell people illusions closer to dreams than to reality,” which claim that money is available, revenues are sufficient for the salaries of all employees, and that the crisis will be resolved as soon as the salaries of special grades are reduced, saying that “this is an emotional speech that is not based on numbers, its goal is to tickle the feelings of the ordinary citizen and numb him, not to be honest with him.”
He added that “the state’s expenditures in the current situation cannot be covered unless the issue of salaries is addressed in a radical and genuine way, and not through patchwork solutions,” noting that “all non-oil revenues, no matter how much they increase, will not be a substitute for oil, and will not cover more than 10–15% of the state’s operational needs.”
Al-Ubaidi pointed out that “there is no resource today capable of compensating for oil,” adding that “everything that is being traded about sulfur, phosphate, silica and others, even if sold as raw materials, will not exceed $300 to $500 million in revenue annually.”
The economist also considered that “talking about strategic industries, from refineries to manufacturing industries, is correct in principle, but not timely,” noting that “these projects need at least five years to become productive, in addition to the availability of huge financing and liquidity that is not currently available.”
He pointed out that “the real problem is that Iraq is not only facing a crisis of revenues and expenditures, but also a deficit in creating a real economy outside of oil.
Al-Ubaidi concluded that “there is no solution without reducing expenditures, boldly addressing the issue of salaries, providing real, not merely slogan-based, support for the private sector, and restoring trade balance with countries away from oil rents.”
He continued, saying, “Anything else is just wishful thinking and a joke on the citizen who is meant to believe that the crisis can be solved with simple measures, while the truth is much harsher and more complicated.”
In March 2021, Mazhar Muhammad Salih, the Prime Minister’s advisor for financial affairs, confirmed in an interview with Shafaq News Agency that the reasons for the economy remaining rentier are due to the wars and the imposition of the economic embargo on Iraq during the past era, and what we are witnessing today in terms of political conflicts has led to the dispersal of economic resources.
The Iraqi state’s continued reliance on oil as the sole source of the general budget puts Iraq at risk from global crises that occur from time to time due to the impact on oil, which makes the country resort each time to covering the deficit by borrowing from abroad or internally, and thus indicates the inability to manage state funds effectively, and the inability to find alternative financing solutions.
AN IRAQI BANK SWITCHES TO THE GLOBAL STANDARD “SWIFT MX”
AN IRAQI BANK SWITCHES TO THE GLOBAL STANDARD “SWIFT MX”
The National Bank of Iraq announced that it has successfully completed the transition to the new global standard ” SWIFT MX ” for financial messages, in a step that constituted a significant milestone in the bank’s technological infrastructure modernization and enhanced readiness for digital transformation.
The bank said in a statement, “The implementation of this transformation comes as part of the bank’s transition from the old MT standard to the MX ISO 20022 model , which is the most advanced, structured and data-rich framework in the global financial messaging sector. The transformation process was carried out across all operational channels with high efficiency and minimal downtime, reflecting the bank’s strong technical readiness, accurate planning, and commitment to providing its services without any significant interruption.”
He pointed out that “this transformation is an advanced step within the strategic roadmap of the National Bank of Iraq to modernize its systems, enhance its compatibility with global best practices, and provide an advanced digital banking experience for its individual and corporate clients.”
Frank26 Iraq Boots-on-the-Ground Report: Lower Denomination Dinar & White Papers Signal Imminent Shift
Fresh boots-on-the-ground intel from Iraq, shared by Frank26 and Firefly, is reigniting excitement across the dinar community. Iraqi television is openly discussing lower denomination dinar notes, the completion of the White Papers, and what appears to be the final steps toward Iraq’s international financial reintegration.
As always, this information represents opinions, observations, and interpretations, not financial advice.
⚠️ Frank26 / MarkZ-Style Disclaimer
Please consider everything shared as opinion. News commentary, translations, and interpretations may not capture full context. Always consult a qualified financial professional before making any financial decisions.
Boots-on-the-Ground Intel from Iraq
Lower Denomination Dinar Notes: “Imminent”
FIREFLY reports:
A well-known Iraqi economist appeared on national television
He stated that:
Lower denomination dinar notes are lined up
They are not yet on the streets
The Central Bank of Iraq (CBI) says the launch is imminent
All preparations are complete
This is significant because lower denominations are essential for a meaningful currency value shift, daily commerce, and international acceptance.
Who Is This Economist Really?
FRANK26 clarifies:
The economist is:
Highly educated
A media financial adviser
Not officially part of the CBI or GOI
He shares professional opinions, not policy announcements
“Every day he comes out and expresses his opinion.”
Despite this, the fact that Iraqi media is openly discussing monetary reform is seen as a strong confidence signal.
The White Papers Explained (Why They Matter)
What Are the White Papers?
The White Papers are Iraq’s long-term economic reform blueprint, written before Prime Minister Sudani took office, designed to:
Stabilize Iraq’s economy
Modernize banking and monetary policy
Return Iraq to the international financial system
According to Iraqi TV:
The monetary reform portion is completed
The only remaining step is going international
Frank26’s Key Insight: What the White Papers Are Waiting For
FRANK26 explains:
The White Papers are waiting on one final requirement
The same thing that:
The HCL (Hydrocarbon Law) is waiting for
The budget is waiting for
The people are waiting for
“You can’t go international until you get what the White Papers are waiting for.”
🌍 Featured Snippet: Why Going International Is the Final Step
The White Papers serve as Iraq’s passport to the international community. According to Frank26, once this final condition is met, Iraq can:
Re-enter global markets
Allow the dinar to float
Complete its monetary reform process
This step would finalize years of preparation.
Lower Denominations & Currency Float: Why This Is Critical
Lower denomination notes are not practical unless:
The currency has real purchasing power
Inflation is controlled
Iraq is positioned internationally
Frank26 emphasizes:
International status comes first
A currency float follows
The LDs support normal daily transactions
Encouraging Signs from Iraqi Media
Frank26 highlights one key factor:
“The fact that they talk about it is extremely encouraging.”
Iraqi media openly discussing:
White Papers
Monetary reform
Lower denomination dinars
…suggests growing transparency and confidence.
Q&A – Most Asked Questions
Q: Are lower denomination dinar notes already circulating?
A: No. They are prepared and ready, but not yet on the streets.
Q: Is this confirmation of an RV date?
A: No specific dates are given. This is preparatory signaling, not an announcement.
Q: What is Iraq still waiting for?
A: Final alignment between:
HCL
Budget
International financial compliance
Q: What happens after Iraq goes international?
A: According to Frank26:
The dinar can float
Monetary reform is completed
White Papers are fulfilled
Final Thoughts
The convergence of:
Iraqi television discussions
Prepared lower denominations
Completed White Papers
Ongoing HCL and budget alignment
…points to a country positioning itself for a global financial return.
While patience is still required, the narrative inside Iraq itself is changing — and that matters.
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Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Your favorite economist is back...today on Iraqi television. He says the lower denomination dinar note are lined up for release...They are not on the streets just yet...The central bank is saying the launch is imminent. All the preparations are in place...
FRANK: You have to remember who this man is. He's an economist. He's well educated. But he's a financial adviser for the news. He is not associated with the CBI...GOI. He's associated with the media. Everyday he comes out and expresses his opinion
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