Money and Business Economy News – Baghdad The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Sunday that Iraq's foreign exchange reserves are a safety net against economic fluctuations, noting that they are estimated at approximately $110 billion.
"Iraq's foreign exchange reserves are one of the most important indicators supporting investment, both domestic and foreign, as the country has a stable foreign exchange portfolio estimated at approximately $110 billion, distributed between gold, dollars, and foreign currencies," Saleh said in a statement to the official agency, followed by "Al-Eqtisad News."
He explained that "these reserves contribute to strengthening macroeconomic stability, both domestically and externally, making them a protective factor against global economic fluctuations and shocks. They also provide strong coverage for the monetary base and financial indicators related to trade and international debt maturing soon."
He added, "The current account of the balance of payments is recording positive rates that enhance the stability of the value of the Iraqi dinar, thus reducing the impact of fluctuations in global oil markets, given the nature of Iraq's rentier economy." He noted that "Iraq, as the fifth largest oil producer in the world, enjoys sustainable foreign financial flows, enabling it to quickly and efficiently support its cash reserves."
He stressed that "these strong reserves provide a stable investment environment, which contributes to accelerating the pace of investment and supporting the country's promising economic growth." https://economy-news.net/content.php?id=53450
In this video, the speaker presents a fast-paced summary regarding the current situation of the Iraqi dinar and various geopolitical developments involving Iraq. The speaker shares personal anecdotes about dog training, indicating a busy home life that also includes preparing for a live session at 5 PM.
Important points discussed include updates from Iraq about international agreements, currency exchange rates, changes in policies regarding visas for Americans, and the implications of a new payment system being utilized by Iraq’s Central Bank of Iraq (CBI).
The speaker also addresses common misconceptions regarding Iraq and its relationship with Iran, emphasizing that they are functioning as separate entities. Overall, the video balances informative content with a personal touch, providing updates while also engaging with the audience.
🐶 Personal anecdotes about the speaker’s experiences with dog training while managing a busy schedule.
🌍 Update on Iraq’s international relations, particularly with India and Turkey, focusing on alternative gas sourcing beyond Iran.
💱 Discussion on the Iraqi dinar’s current exchange rate at 1310 and implications for international Forex markets.
✈️ Announcement of new policies allowing American citizens to travel to Iraq without a visa, signifying increased openness for investors.
📈 Insights into Iraq’s economic reforms, particularly the increased focus on non-oil revenues.
🔍 Introduction of a new payment system by the CBI that improves transaction security and prevents illicit money flow.
📅 Encouragement for audience engagement in a live session to discuss the unfolding developments and foster a sense of community belief in progress.
Key Insights
🤔 Understanding the CBI’s Decision-Making: The Central Bank of Iraq has stayed quiet about notable changes but operates under a new system designed to enhance transaction security. This new system can catch financial discrepancies before they escalate, which contrasts sharply with older systems that allowed for more oversight and potential manipulation, particularly by Iran. The shift suggests a proactive approach by the CBI to strengthen Iraq’s economy and its appeal to foreign investors.
📊 The Importance of Currency Exchange Rates: With the exchange rate currently set at 1310, many analysts believe that if Iraq were to enter the international Forex market at this rate, it would risk destabilizing its economy further. Speculation surrounds the need for this exchange rate to be adjusted for the Iraqi dinar to be competitive and functional in the global market. Adjustments to this rate could signify a major turning point for Iraq’s economic landscape.
🌐 Geopolitical Distinctions Between Iraq and Iran: The speaker underscores that Iraq and Iran are fundamentally different in how they operate economically and politically. While much discourse surrounds Iran’s sanctions impacting its economy, Iraq has reportedly developed alternative trade agreements and energy sources, notably with Turkey and India. This distinction is crucial for understanding regional dynamics and Iraq’s capabilities moving forward.
💼 Encouraging Foreign Investment: The implementation of visa-free entry for US citizens is a significant move by Iraq, aimed at encouraging investment and tourism. By easing restrictions, Iraq appears to be preparing for an influx of foreign capital, which is vital for its economic recovery and growth. This policy reflects a broader strategy to rehabilitate Iraq’s global image and attract businesses eager to capitalize on emerging markets.
📈 Rising Non-Oil Revenue: The ongoing focus by Iraq’s finance minister on increasing non-oil revenues is essential for diversifying the economy and reducing dependence on oil exports. This move aligns with global trends where economies are urged to diversify in light of fluctuating oil prices and the transition toward sustainable energy. The increase in non-oil revenues may lay the groundwork for a more stable and resilient economy in the long run.
🛡️ The Role of AI in Financial Transactions: The integration of artificial intelligence into Iraq’s new payment system could revolutionize how transactions are monitored and managed. By addressing issues of fraud and money laundering proactively, this system can enhance investor confidence and streamline operations, making Iraq more appealing to both local and international businesses and potentially improving its credit standing.
❓ The Power of Community Belief: The speaker emphasizes the importance of community belief in achieving financial progress, suggesting that collective optimism can influence outcomes. This notion embodies the idea of manifestation, where shared faith and energy can push forward economic recovery efforts. It invites the audience to join together in belief and action, indicating that public perception can shape the reality of the Iraqi dinar’s future.
Through these insights, the speaker encapsulates the current state of Iraq with an engaging mixture of personal narrative and serious analysis, aiming to both inform and uplift the audience as they await significant changes in the economic landscape.
The Prime Minister’s political advisor, Farhad Alaa Al-Din, said on Sunday that Iraq’s exemption from US visa restrictions confirms the strength of bilateral relations.
Alaa Al-Din said, according to the official agency, that “the nature of the relationship that Iraq has with the United States is characterized by positivity and continuous cooperation, which reflects the level of mutual trust and common understanding in various fields, including regional security and stability.” He added, “Iraq’s exemption from the US visa restrictions confirms the strength of bilateral relations and the importance of joint cooperation in the security, economic, diplomatic and immigration fields, especially since the Iraqi government has demonstrated on more than one occasion that Iraq is continuing its approach to enhancing security and stability, cooperating with the international community to combat terrorism, and maintaining a safe and stable environment that contributes to strengthening regional and international partnerships. In addition, the government affirms its commitment to continuing to work with the United States and other countries to ensure common interests and achieve sustainable development for the benefit of the Iraqi people and the region.”
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.
Shafaq News / Iranian President Massoud Bezhkyan revealed the existence of problems he described as big in the administration of the capital Tehran, warning of a “horrific shortage” of water, electricity, gas and energy throughout the year.
The Iranian president said during the meeting of the Tehran Governorate Planning and Development Council that rainfall (during the winter) was low, which increases the likelihood that the country will face a “severe imbalance” in the field of water in 2026, especially since Tehran mainly depends on rainwater, snow storage and groundwater.
He added that the current situation in Tehran does not allow living there anymore, nor can the capital be supplied with water by tanks.
Iranian officials have previously pointed out that rainfall has decreased by more than 40% compared to the long-term level, in addition to the excessive depletion of groundwater resources that led to the
landfall crisis along with drought and water shortages.
In this regard, Bezchkyan said that some areas such as Ramin witnessed a landscenterium of 36 centimeters, while emergency sessions are held at a drop of 3 centimeters in other areas, which confirms the seriousness of the situation as the problem approaches the center of the capital. For his part, Mohammad Agamiri, head of the construction committee of the Tehran City Council, warned of a high risk of landscaring in 8 areas of the capital, and pointed out that some events are already taking place in these areas.
In previous reports, it was reported that the landfall crisis affects vital infrastructure such as airports, with an estimated 14 million people (20% of the population) vulnerable to this crisis. Etimad newspaper also warned that 2026 would be an exceptional year in the water and energy crisis.
Pzchkian stressed that the problem of the defect cannot be solved simply by issuing directives or arrests, but rather requires the intervention of specialists, with a warning that impruty could lead to gas cutting off from homes in the winter.