Article: "Minister of Finance receives a delegation from the German corporation for international cooperation."
Interesting...so are they going to be doing this 1310 business forever? I don't think so. Quote: "In the presence of sectoral bodies from the Central Bank of Iraq, Federal Integrity commission, Financial Supervision Bureau and the
General Authority for Customs and Taxes at the ministry's headquarters..." These guys are focused 100% on Iraq getting into the International world.
FRANK26: "REMEMBER... KUWAIT WAS AGAINST THE MONETARY REFORM OF IRAQ!!!"......F26
Al-Sudani: The door is open for Kuwait to enter into development projects
2/9/2025
Prime Minister Mohammed Shia Al-Sudani called on the State of Kuwait, on Sunday, to invest in vital development road projects in Iraq.
This came during his meeting today in Baghdad with the Kuwaiti Ambassador to Iraq, Hassan Mohammed Al-Zaman.
Al-Sudani pointed out, according to a statement issued by his media office, the depth of relations between the two countries, and the importance of consolidating and expanding them at various levels and stages.
During the meeting, the Prime Minister stressed his aspiration to strengthen constructive bilateral cooperation in several fields, pointing to the available opportunities and the availability of an appropriate investment environment for the work of Arab and foreign companies, including Kuwaiti companies.
The statement quoted Al-Sudani as saying that the door is open for the State of Kuwait to enter into development projects and benefit from the announced investment opportunities, which contributes to strengthening economic integration and interconnected interests between the two countries.
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Path project, as the four countries will work to establish the necessary frameworks for implementing the project, according to a statement issued by the Prime Minister's Office.
The strategic project of the development road is expected to contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between the East and the West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It is worth noting that the "Development Road" project is a land and railway road extending from Iraq to Turkey and its ports. The length of the road and railway is 1,200 kilometers inside Iraq, and it aims primarily to transport goods between Europe and the Gulf countries.
The project's investment budget amounts to about 17 billion US dollars, of which 6.5 billion is for the expressway, and 10.5 billion for the electric train. It will be completed in 3 phases, the first ending in 2028, the second in 2033, and the third in 2050.
The project is expected to provide about 100,000 job opportunities in the first phase, and one million job opportunities after its completion.
President Donald Trump has ignited a firestorm in the Middle East with a dramatic executive order that abruptly ends Iraq's waver to buy gas from Iran.
This high stakes move intends to choke Iran's economy and its nuclear ambitions is sending shock-waves through Iraq's fragile energy sector and threatening to plunge the country deeper into political and economic chaos...
Baghdad is scrambling for alternatives. Financial transactions are also under siege. Washington has cut off Iran's access to Iraq's financial system...
leaving Iraq desperate for a workaround including a potential shift to Russia's Mir payment system. Iraq is deeply concerned the sitting president will place more sanctions on the country if they do not comply.
Iraq passed an expansionary three-year budget program in 2023, which will likely lead to rising general government debt.
The country has a history of under-spending on budgetary targets but heightened regional tensions alongside parliamentary elections in late 2025 will pressure fiscal finances.
Despite OPEC+ production cuts continuing into at least the first half of 2025, we expect Iraq's sizable oil export volumes will support external surpluses and foreign exchange reserves remaining in excess of $100 billion over 2025-2028.
We therefore affirmed our 'B-/B' ratings on Iraq. The outlook is stable. link
More than one person told me that for a short time on the forex they saw the dinar at around one US dollar. I think this may be a little more testing…they have not opened it up for exchange yet…. Don’t panic…I don’t think this is the rate…but if it is I will take it and be happy..
.So this puts one IQD just under one US dollar.
I am hearing a lot of fun stuff from Iraq and from groups. Expectations are through the roof right now...I am almost afraid to tell you all how excited I am for the next few days and the next week or two. This roller coaster is bad enough…but I am quite literally bouncing today. I hope and pray we are through by next Saturday.
