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Showing posts with label #IraqiDinar
#CBI
#DinarRedenomination
#1to1Dinar
#IQDUpdate
#CurrencyReform
#MonetaryPolicy
#GlobalFinance
#EconomicStability
#FinancialReset. Show all posts
Tuesday, January 6, 2026
Monday’s Parliament: The “Key” To The Three Presidencies And The Gateway To Drawing The Map Of Power In Iraq
Monday’s Parliament: The “Key” To The Three Presidencies And The Gateway To Drawing The Map Of Power In Iraq
(As I post this article its Monday morning in Germany, the first phase of the appointing the three presidencies is done. See next article.)
All eyes will be on Monday (December 29, 2025) on a parliamentary session described as the most sensitive since the start of the recent political elections, not only because it will put the parliament in control of its presidency, but also because it represents an early gateway to determining the direction of the three presidencies, and an initial test of the blocs’ ability to produce a balanced settlement before moving on to more weighty issues related to the formation of the government, the cabinet, and the course of agreements within the state.
Why is tomorrow’s session crucial?
Rebin Salam, a member of the Kurdistan Democratic Party, said that tomorrow’s session is a historic and pivotal moment in the course of the political process in Iraq, both internally regarding the formation of the cabinet and in taking the first step to determine the three presidencies.
Salam explained in an exclusive interview with “Baghdad Today” that tomorrow’s session is the most complex compared to the rest of the political entitlements, because it is dedicated, according to the Iraqi constitution, to choosing the presidential body of the House of Representatives, and not just the Speaker of the House, indicating that the selection of this body is directly linked to the entitlements of the other components, and is not limited to the Sunni component.
Background to the session: A full presidential body, not just one position.
The sensitivity of the session is highlighted by the fact that it does not decide on a single position, but rather draws up a complete structure within the legislative institution through the election of the president and his two deputies, which makes it a pivotal point for subsequent paths, because the confirmation of the parliament’s presidency often reflects on the form of consensus regarding the other two sovereign positions in the state, and turns the vote into a political signal that goes beyond the parliament hall towards the entire map of power.
According to Salam, the complexity of the session is not due to the names alone, but rather to the fact that the “Presidency Body” is linked to the balances of the components, the arrangements of the blocs, and what it may open up to in terms of mutual demands when moving to the presidency of the Republic and the premiership, which makes any detail within Parliament counted within a broader basket of calculations.
The most prominent issue: First Deputy and Second Deputy
Salam pointed out that the main problem lies in choosing the first and second deputy speakers of the House of Representatives, as they constitute the most prominent obstacle in this entitlement, noting that the position of second deputy is currently occupied by Shakhwan Abdullah, who belongs to the Kurdistan Democratic Party, at a time when it is likely that the position of President of the Republic will be allocated to the Patriotic Union of Kurdistan, which adds more complexity to the scene.
In this context, the issue of the two deputies turns into a double balancing test: a balance within the parliament related to the distribution of influence within the presidency, and another balance related to what will become of the “basket of entitlements” at the state level, especially within the Kurdish house, with the likelihood of the presidency going to the Patriotic Union, in contrast to the Democratic Party’s adherence to its position within the parliament’s presidency.
Other blocs’ positions: Sensitivity to combining positions
Salam added that the distribution of these positions is also linked to the positions of other political blocs, including the Development and Reconstruction bloc, which does not tend to combine the premiership and the first deputy speaker of parliament within one political entity, which makes the consensus process more complicated and sensitive, because the dispute here is not about one position in isolation from others, but rather about the shape of the balance within the authority, and the limits of concentrating the decision in one entity.
What will the session reveal?
Salam concluded by saying that the outcomes of tomorrow’s session will reveal the features of the next stage and clearly define the political path for the other two sovereign positions in the state, namely the presidency and the second position in the Iraqi power pyramid, indicating that what will happen inside the parliament will not remain limited to electing the council’s leadership, but will turn into an indicator of the direction of future settlements, either the beginning of a smooth understanding process, or the beginning of a complication that extends to the rest of the entitlements.
🇮🇶 Clare & Jeff: Iraq Rejects Dinar Devaluation — Understanding the 1:1 Exchange
🇮🇶 Clare & Jeff: Iraq Rejects Dinar Devaluation — Understanding the 1:1 Exchange
Why Iraq’s Central Bank Says Devaluation Is Not the Solution
Commentary based on Clare and Jeff
💬 Central Bank Rejects Devaluation
Clare reports that a Sudanese government advisor told Rudaw:
“Devaluing the dinar is the worst way to address the budget deficit.”
Saleh, an Iraqi Central Bank official, reinforced this:
The CBI strongly rejects using devaluation to cover fiscal gaps
The official dollar price will remain at 1,320 IQD
Policy focus remains on structural reform, not short-term currency adjustments
This is a clear signal that Iraq is not moving toward devaluation, but rather planned redenomination.
💱 Jeff Explains 1:1 Redenomination
Some investors hear:
“The dinar will go 1 to 1!”
Jeff clarifies: Yes — but only inside Iraq.
🏪 Inside Iraq: 1:1 Purchasing Power
A 25,000 dinar note today buys a grocery basket
After redenomination, a 25 dinar note buys the exact same basket
This is called purchasing power parity (PPP)
So, within Iraq, it is effectively 1 to 1.
🌐 Outside Iraq: International Value
The international value is separate from domestic PPP
Example: If a 25,000 dinar note equals $75,000, the new 25 dinar note equals $0.75
This reflects exchange rate logic rather than domestic spending power
Jeff emphasizes:
“You have to look at this from two angles — inside Iraq versus outside Iraq.”
🔍 Why Devaluation Is Not an Option
Devaluing to cover budget deficits is problematic:
It erodes public confidence in the currency
It increases inflation risks
It undermines the planned redenomination and economic reforms
It does not address structural fiscal issues
Instead, Iraq is pursuing:
Monetary reform
Redenomination
International trade readiness
Stable internal pricing
⭐ Featured Snippet
Iraq’s Central Bank rejects devaluation to cover budget deficits. Redenomination at 1:1 maintains domestic purchasing power but differs internationally.
❓ Q&A: Clare & Jeff on Dinar Reform
Q: Will Iraq devalue the dinar to fix budget gaps?
A: No — the CBI rejects devaluation and keeps the official rate at 1,320 IQD/USD.
Q: What does 1:1 mean?
A: Domestically, prices remain stable — 25,000 IQD today equals 25 IQD after redenomination.
Q: How does this affect international exchange?
A: Internationally, value is scaled — a 25 IQD note abroad may only equal $0.75 if the original note was 25,000 IQD.
Q: Why is redenomination safer than devaluation?
A: It preserves purchasing power, prevents inflation, and supports structural economic reforms.
🧠 Final Thoughts
Iraq’s monetary reform is carefully planned, avoiding the pitfalls of reactive devaluation.
Domestic 1:1 redenomination protects citizens
International exchange rates are managed separately
Fiscal health depends on structural reforms, not short-term shocks
This is a controlled, deliberate approach rather than a rushed currency adjustment.
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Clare
Article: "An advisor to the Sudanese government told Rudaw: Devaluing the dinar is the worst way to address the budget deficit"
Quote: "Saleh, stated that the Central Bank of Iraq strongly rejects resorting to devaluing the dinar against the dollar to cover the budget deficit, stressing that "the official price of the dollar will remain as it is at 1320 dinars..."
Jeff
Some of you say, 'We've heard this will be 1 to 1.' Technically, yeah, it's going to be 1 to 1. But you got to look at this from two different angles...Hear me carefully on this. It'll be 1 to 1 only within the country of Iraq, not outside. Here's why...
Whatever you can buy at the grocery store for a 25,000 dinar note...you'll be able to buy the same exact items with a 25 dinar note after. So yeah, in the country of Iraq it'll be 1 to 1...What about outside Iraq?
There's the dinar against foreign currency value...Let's use a $3.00 as example. You would have a 25,000 note that would be worth $75,000. A 25 note is worth $0.75 cents.
Sources: Measures and solutions to reduce the dollar exchange rate against the dinar in local markets
Sources: Measures and solutions to reduce the dollar exchange rate against the dinar in local markets
Economically,the exchange rate of the US dollar continues to rise against the Iraqi dinar in local markets, with trading indicators approaching the 150,000 dinar mark for every 100 dollars in many governorates, in a development that has raised concerns among economic circles and citizens alike.
Banking reports indicated that the exchange rate reached levels close to this threshold, with prices ranging around 147,000-150,000 dinars per 100 dollars recorded in exchange bureaus and shops in Baghdad, Erbil and other cities, after a relative stability of the dinar earlier this year.governmentBaghdadGovernment sources confirmed to Iraqi media outlets that a series of governmental and monetary measures are being implemented or planned to contain the surge in the dollar's value and attempt to lower its price against the dinar in the parallel market.
These measures include: strengthening oversight of the exchange market and curbing speculation.
Sources indicated that relevant authorities are focusing on monitoring buying and selling activity in unofficial markets and attempting to limit speculation, which is considered a driving factor behind the rise in the price of foreign currency.
This step comes within the framework of efforts to control prices and reduce the gap between official and parallel exchange rates.Encouraging official transactions through banks and official platforms is also being pursued.
Central Bank of IraqGovernment agencies are encouraging transactions in US dollars through official banking channels and facilitating access to the currency for citizens and merchants from the official market at fixed rates, in an effort to alleviate pressure on the parallel market.
This includes utilizing reserves.
Iraq-Regarding hard currency,economic sources stated that the country's hard currency reserves play a role in calming the market, as they contribute to meeting the real demand for dollars and reducingAsylumThe parallel market, along with efforts to finance foreign trade to support legitimate demand, has prompted economic and public reactions .
A number of merchants and citizens have expressed concern about the impact of the rising exchange rate on import costs and consumer goods prices, especially given the economy's reliance on imports.
Some economic entities have called on the Baghdad government to intervene swiftly to address the dinar's decline and ensure price stability. In contrast, experts believe that current government measures may take time to produce tangible results in the markets, and that the issue is not simply about reducing the exchange rate, but requires a comprehensive package of financial and monetary reforms to improve investor confidence and reduce dependence on the parallel market.
With the dollar approaching unprecedented levels in the Iraqi market, monetary and governmental authorities in Baghdad face a challenge that necessitates coordination between fiscal, monetary, and regulatory policies to curb currency volatility, while simultaneously working to calm markets and restore public confidence in the Iraqi dinar, in an attempt to push the exchange rate toward more stable levels in the coming weeks. link
Parliament will host officials from the Central Bank and the Integrity Commission next week
Parliament will host officials from the Central Bank and the Integrity Commission next week
"Within the framework of activating the oversight role"
The Parliament Presidency set next week, Monday (January 5, 2026), as the date for hosting a number of officials from the Financial Control Bureau, the Integrity Commission, the Central Bank and other federal institutions within the framework of activating the oversight role.
The media department of the House of Representatives stated in a statement received by Network 964 that the parliament “held its second session of the sixth electoral term of the first legislative year, the first legislative chapter, today, Monday, under the chairmanship of Hebat Al-Halbousi, Speaker of the Council, and in the presence of 229 deputies.”
He added that “the Speaker of the Council emphasized at the beginning of the session the need to adhere to the provisions of the House of Representatives’ internal regulations, as they are in effect and were voted on in the previous session.”
He pointed out that “President Hebat Al-Halbousi stressed the importance of expediting the formation of parliamentary committees, and giving a deadline of 7 days for parliamentary blocs to submit their proposals to the Presidency of the Council regarding the development of a plan to distribute members among the parliamentary committees according to the internal regulations of the Council, stressing the importance of activating the Parliamentary Conduct Committee to preserve the status of Iraq and the House of Representatives in terms of oversight and legislation.”
He added that “the Speaker of the Council noted that the time for holding the Council sessions has been permanently fixed at 11 am, in agreement with the heads of the parliamentary blocs, in addition to proceeding with other controls and instructions that enhance the management of the legislative institution in the best way.”
He explained that “the session emphasized the discussion by the members of the council of the organizational matters that the council follows in managing its sessions and parliamentary committees in order to address some of the previous obstacles to enhance the role of the House of Representatives in oversight and legislation, in addition to stressing the need to prioritize the enactment of important laws.”
Regarding candidacy for the presidency, he explained that “the Speaker of the Council noted that 44 applications for candidacy have been received so far, and the extension of time was due to the New Year holiday, indicating that the nomination period closes today, Monday, at the end of official working hours.”
He concluded by saying that “Al-Halbousi mentioned that the House of Representatives will host next week officials from the Financial Control Bureau, the Integrity Commission, the Federal Service Council, the provincial councils, the Central Bank, the head of the Martyrs Foundation, and the head of the Retirement Authority.” link
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