The Arab League’s Economic and Social Council is holding its 115th regular session at the ministerial level in Cairo today, Thursday, in the presence of Minister of Trade Athir Al-Ghariri.
The items agreed upon by senior Arab officials in their meeting yesterday, Wednesday, were approved, and the draft decisions of the ministerial meeting will be submitted to the upcoming Arab summit in Baghdad .
Assistant Secretary-General and Head of the Social Affairs Sector at the League of Arab States, Ambassador Haifa Abu Ghazaleh, said, “The Arab region is still witnessing unprecedented developments and successive events, both Arab and international, most notably the difficult social, humanitarian and economic repercussions resulting from the practices of the Zionist entity,” offering “a tribute of respect to the Palestinian people for their steadfastness, determination and adherence to their land despite what the Israeli war machine has done in the Gaza Strip.”
She added, “What is happening now places the Arab countries and the international community in a responsibility towards the Palestinian people who have faced, and continue to face, the most difficult and harsh conditions, and attempts to exclude them from their land and roots. However, they have set an example of steadfastness, so all respect and appreciation to the noble and steadfast Palestinian people.”
In the latest updates from Dinar Guru, various insights about Iraq’s economic status, gold reserves, and currency revaluation are discussed.
Frank 26 emphasizes the importance of protecting the upcoming purchasing power for Iraqi citizens, arguing against the notion of promoting a currency with little value. The discussion also touches on Iraq’s significant gold reserves, which were allegedly amassed by Saddam Hussein before the war.
It is suggested that Iraq is not currently purchasing gold but is rather repatriating gold that it already owns into its national reserves.
The conversation further delves into Iraq’s transition to digital currency and the adoption of artificial intelligence in the education sector. Additionally, it addresses the current liquidity crisis that the Iraqi government faces, which impacts financial transactions and obligations.
Finally, there are concerns regarding US sanctions on Iran and how they might affect Iraq’s economic stability and the potential for the Iraqi dinar to revalue on foreign exchange markets.
💰 Gold Reserves: Iraq is gradually repatriating a significant amount of gold that was previously lost or hidden, enhancing its national reserves.
🌍 Going International: Iraq is preparing for a digital currency transition and incorporating artificial intelligence into education.
💵 Liquidity Crisis: The Iraqi government is struggling with a cash shortage, affecting salaries and project financing.
🚫 US Sanctions Impact: Iraq’s ability to revalue its currency is heavily linked to resolving issues with US sanctions on Iran.
🔄 Currency Education: Iraqi citizens are being educated on the importance of financial strategies as the currency develops.
📈 Future Prospects: Despite current challenges, there is optimism that Iraq will successfully navigate its economic issues, although it may take time.
⚖️ Financial Consultation: Individuals are encouraged to consult financial advisors when exchanging currency to maximize value.
Key Insights
🏗️ Repatriation of Gold: The process of repatriating gold is crucial for Iraq’s economic stability. Historically, Saddam Hussein’s vast gold reserves were a target during the war, but the current Iraqi government is strategically reintegrating these assets. This move not only strengthens the national treasury but also sets the stage for a more stable currency. As more gold is added to reserves, the dinar’s value could increase, providing citizens with greater purchasing power.
📊 Economic Transition to Digital Currency: The transition towards a digital economy signifies a major shift for Iraq. By introducing digital currencies and incorporating artificial intelligence in education, Iraq aims to modernize its financial system. This transition is essential for attracting foreign investment and integrating into the global economy. However, it requires significant infrastructure development and public education to ensure that citizens are prepared for the new system.
💸 Liquidity Crisis: The chronic cash shortage facing the Iraqi government poses a serious threat to its financial obligations and daily transactions. Without an adequate supply of currency, the government struggles to pay salaries, settle debts, and fund infrastructure projects. This liquidity crisis could lead to social unrest if not addressed promptly, as citizens may become frustrated with delayed payments and economic instability.
🔒 US Sanctions and Economic Independence: Iraq’s economic future is precariously linked to its relationship with the United States, especially concerning sanctions on Iran. These sanctions complicate Iraq’s ability to trade and may hinder the dinar’s revaluation on foreign exchange markets. Iraq must navigate these geopolitical tensions carefully to maintain its economic sovereignty and stability.
📈 Optimism for Future Currency Value: Despite the challenges, there is a prevailing sense of optimism among experts that Iraq will eventually succeed in stabilizing and increasing the value of the dinar. Economic reforms, improved governance, and the gradual repatriation of gold are all factors that could contribute to a stronger currency. However, this process may take longer than anticipated, requiring patience from citizens and investors alike.
🎓 Financial Literacy Initiatives: As Iraq transitions to a more complex financial system, increasing financial literacy among citizens is crucial. Educating the public on currency value, investment strategies, and the importance of financial planning will empower them to make informed decisions. Such initiatives will help mitigate risks during the currency exchange process and foster a culture of financial responsibility.
🛡️ Advisory for Currency Exchange: With the impending changes in currency value, it is advisable for individuals to consult with financial and asset protection advisors. Proper guidance can help citizens develop tailored strategies for currency exchange, ensuring that they get the best possible value for their dinars. This is especially important during times of economic uncertainty, where informed decisions can lead to significant financial benefits.
In summary, the Dinar Guru updates present a multifaceted view of Iraq’s economic landscape, highlighting both the challenges and opportunities facing the nation.
The discussions reflect a cautious optimism regarding the future of the Iraqi dinar, underscored by the importance of gold reserves, digital currency integration, and the need for strategic economic reforms.
As Iraq navigates its path forward, the role of education, financial literacy, and international relations will be critical in shaping its economic destiny.
The United Nations Development Program ( UNDP ) praised the economic reforms undertaken by the Iraqi government, expecting that the third package will yield positive results during the next two years, 2026 and 2027.
“Reforms are an ongoing effort in all economies and countries, and there have been some notable reforms over the past years by the Government of Iraq, such as the adoption of a three-year budget framework, and others in which the programme has contributed, such as regulating digital electronic payment in 2024, strengthening the anti-money laundering capabilities of the Iraqi judiciary, or adopting the National Development Plan 2024-2028,” said Auke Lootsma, the programme’s resident representative in Baghdad.
“The third set of reforms, which is to strengthen the banking sector
, led by the Central Bank of Iraq, and prepare an updated nationally determined contribution, will yield results next year and beyond,” he added, explaining that “the program sees opportunities for further reform in policy areas that provide greater access to finance for youth, start-ups, and small and medium-sized enterprises, in sectors such as renewable energy, services, trade, economy, agriculture, and others, as well as reforms that ensure better integrity and transparency in the provision of public services to citizens, companies, and investors.”
He pointed out that “one of the recommendations in assessing the financing system or digital landscape in Iraq is to establish a system that allows interoperability and digital transactions across financial institutions and digital card operators, as well as adopting improved customer protection legislation that can ensure consistent fee structures and trust in the digital financial system.”
We received the news of (assigning the experienced Omani personality) His Excellency Dr. Mohammed Al Hassan.. (as head of the UNAMI mission) in its year of work, which may be the final one.. with a lot of optimism and hope.
Especially since Al-Hassan is considered (the first Arab to head this important UN mission) since the Security Council issued Resolution No. (1500) in (August 2003 AD) establishing it as a political mission specialized in the affairs of supporting and assisting Iraq.
And since it is among the specialties of this UN mission… to mediate in Iraq’s regional issues… through (facilitating dialogue… between it and its neighbors) to resolve pending political, border, and security files… etc.
Al-Hassan’s effective efforts in this regard have become apparent, and were manifested in his visit to Kuwait and his meeting with the leadership in the State of Kuwait… and his promising initiative… which seemed to be an effective introduction… to a mediation – God willing – that will be successful between Kuwait and Iraq.
As a result of this (blessed Hassani effort), His Highness the Amir of the country, Sheikh Mishaal Al-Ahmad Al-Sabah, may God protect and preserve him, sent his special envoy: His Excellency Ambassador “Mohammed Abu Al-Hassan” to the Iraqi Prime Minister, Mr. Mohammed Shia Al-Sudani.
The Kuwaiti High Envoy met with Mr. Al-Sudani today, Tuesday – a promising meeting – which has given us a lot of optimism and hope towards a real and solid foundation for a practical and effective path regarding the bilateral dialogue between the two countries at all levels, leading to the resolution of all pending files, and moving to laying the (necessary foundations) that we hope will enable the two countries to (develop a comprehensive strategic partnership) at all levels and levels.. in a way that benefits and brings good to both parties (economically, security-wise, logistically and politically).
There is no doubt that the urgent and explicit interest of the two countries requires them to “transcend the effects of the past” and overcome all obstacles of the present, in order to achieve the two countries’ ambition of achieving a “comprehensive bilateral geo-economic partnership” that would transform Kuwait and Iraq into one of the most important “global geo-economic hubs,” which would catapult the two countries into a “great joint capability” and highly competitiveness in the economic and logistical centers of gravity on the international trade maps.
Here: I cannot help but recall the statement of the “goodwill face” of the two countries, God willing, His Excellency Ambassador Dr. Muhammad Al-Hassan, who said during his visit:
(The ties that unite the two brotherly peoples of the Republic of Iraq and the State of Kuwait are enough to turn the pages of the past and open new pages of cooperation and mutual trust.)
I conclude: • On this basis mentioned by Al-Hassan, we must stand, on this basis we must build, and on this basis we must advance.