IRAQ NEWS
: IRNAIRAQ STATUS UPDATE : The introduction of a new exchange rate and lower denominations in Iraq’s currency
🔑 The Real Effective Exchange Rate (REER) is a measure that shows the value of a country’s currency against a basket of other currencies, adjusted for inflation.
🔑 Changes in the REER can significantly impact businesses and consumers, as it affects the cost of imports and the purchasing power of the currency.
🔑 Iraq has introduced a new exchange rate for its currency, the Iraqi dinar, to stabilize the economy and make the currency more valuable and reliable.
🔑 The new lower denominations of the Iraqi dinar are designed to simplify transactions and make the currency more accessible for everyday use.
🔑 The success of Iraq’s monetary reforms depends on factors such as fiscal discipline, international community support, and building trust in the currency.
🔑 A stable currency can lead to more predictable prices, better planning, and greater economic opportunities for both individuals and businesses.
🔑 While challenges exist, the reforms in Iraq have the potential to pave the way for a brighter economic future.
🤔 The REER is a crucial economic indicator that reflects the overall health of a country’s economy. Businesses and consumers must closely monitor changes in the REER to understand the impact on their financial decisions.
💡 The introduction of a new exchange rate and lower denominations in Iraq’s currency is a significant step towards creating a more stable and accessible financial system. This reform could help boost consumer confidence and attract foreign investment.
🧭 Maintaining fiscal discipline and securing international support are essential for the long-term success of Iraq’s monetary reforms. The government must demonstrate a consistent commitment to these policies to build trust in the currency.
📈 A stable currency can have far-reaching positive effects on a country’s economy, including more predictable prices, better planning for individuals and businesses, and increased economic opportunities. This can lead to an improved quality of life for citizens.
�barriers While challenges such as political instability and external market pressures may arise, the groundwork laid by Iraq’s monetary reforms suggests a promising path towards a more stable and prosperous economic future.
🔍 Closely monitoring the implementation and impact of Iraq’s currency reforms can provide valuable insights into the broader dynamics of exchange rate policies and their effects on both individual and national economic well-being.
KTFA
FRANK26: "EVEN THE BIG-WIGS WAIT FOR THE NEW EXCHANGE RATE"........F26
3/10/2025
BAGHDAD
The Ministerial Council for the Economy discussed on Monday completing the budget schedules in addition to the reality of the local and global oil market, setting the end of this year as the final date for implementing the Iraqi specifications for vehicles and organizing the process of issuing car import licenses.
Deputy PM and Minister of Foreign Affairs Fuad Hussein chaired the eighth session of the Ministerial Council for the Economy, held in the Council building in the presence of the Deputy PM and Minister of Planning, as well as the Ministers of Finance, Trade, Agriculture, Industry, Labor and Social Affairs, in addition to the Secretary-General of the Council of Ministers, the Governor of the Central Bank, the Undersecretary of the Ministry of Oil, the Deputy Chairman of the National Investment Commission, and the PM's advisors for economic and legal affairs, according to the Council's statement received by the Iraqi News Agency - INA.
The Council hosted the Minister of Interior to discuss the project to rehabilitate vehicle registration sites and issue market licenses throughout Iraq, in addition to the smart signals project and the radar system in the capital, Baghdad.
The minister explained that "these projects will contribute to improving the services provided to citizens, enhancing traffic flow, and reducing congestion."
The Council supported the measures taken by the ministry in this regard and recommended submitting them to the Cabinet.
During the meeting, the Council discussed with the Deputy PM and Minister of Oil the completion of the budget schedules, where the minister provided a detailed explanation of the reality of the local and global oil market, in terms of prices and expected production quantities, expenses necessary to manage extraction and marketing operations, and purchase of petroleum derivatives, in addition to the expected revenues from the oil sector.
The council hosted the Undersecretary of the Ministry of Electricity and officials in the ministry, in addition to the Director General of the Iraqi Trade Bank and several heads of investment companies specialized in the energy sector, to review investment contracts and discuss the best ways to ensure the continuity of electricity supplies, especially with the approach of summer.
The Council hosted the head of the Central Organization for Standardization and Quality Control, to discuss the Ministry of Planning's request to postpone the implementation of the Iraqi specification for vehicles and organize the process of issuing car import licenses until the end of this year."
The head of the Central Organization for Standardization and Quality Control explained that "the postponement will enable the relevant authorities to complete the required technical procedures, in line with the Consumer Protection Law and the Competition and Anti-Monopoly Law."
The Council approved the request, setting December 31st, 2025, as the final date for implementation.
EXCERPTS FROM MARKZ
Member: I’m more than ready for the RV…I even washed my currency so it’s clean when I exchange!
MZ: What you are saying is you are laundering money…lol
MZ: More confirmations today. I had another historic bond contact tell me the facilitators asked for their “wire” or ACH information so they could send them travel dollars. They are prepared to send funds immediately.
Member: ACH stands for Automated clearing house electronic transfers
MZ: I had another bond contact who has not heard anything for awhile -but suddenly was told late yesterday to expect their payments to start by the end of this week…or throughout the weekend. They are excited that its finally going to be their turn and they have a place in the que.
KTFA
FRANK26: "KTFA FAMILY... THIS BACK & FORTH IS IMPORTANT FOR THE SECURITY & STABILITY OF THE NEW EXCHANGE RATE"........F26
3/11/2025
Iraqi President Abdul Latif Rashid confirmed on Tuesday that Baghdad wants to play a mediation role between Washington and Tehran, while calling on US President Donald Trump to implement his promises regarding ending conflicts in the Middle East.
“Iraq has changed a lot from what it was under Saddam Hussein, and the time of entering into conflicts and challenging the rights of other countries is over,” Rashid said in an interview with the Washington Times, translated by Shafaq News Agency. “Some major companies, in the energy sector and others, are active here in petrochemicals and oil, and I don’t think we are facing a conflict with the United States. On the contrary, we welcome all the help we can get from the United States, and we want to have a really good and friendly relationship with the United States.”
He pointed out that "Iraq can play an important role in mediation because it is in constant contact with Iranian policy," indicating that "Iraq has no reservations about meeting senior Iranian officials, and has played a role in making Iran and Saudi Arabia understand each other, and re-establishing the diplomatic service, which has benefited everyone, and has also made some suggestions to Jordan and other countries."
Regarding Iraq's possible role in Syria, the president continued, saying, "It is clear that Syria is an independent state and has a new administration or new rulers, and we want the Syrian government to reflect the will of the Syrian people, either through elections or through the democratic steps that must be taken," stressing that "the Syrian administration must try to accommodate all segments of society, so that no one feels that he has been excluded or not treated as an ordinary citizen."
He stressed that "there is one very important point for Iraq, which is the presence of large numbers of terrorists or families of terrorists on the Syrian border, and there is concern about that, and some arrangements must be made so that the border does not get out of control."
Asked if the Iraqi president would receive an invitation to visit the United States, Rashid said, “I honestly don’t know. I sent President Trump a congratulatory message and encouraged him to implement what he promised to maintain peace in the world, to end conflicts,” noting that “life will not be easy, especially in our region, where we have conflicts in Syria, in Palestine, and we have problems in Lebanon, in Yemen, in Sudan, and in Somalia.”
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