, The Foreign Minister Chairs The 14th Meeting Of Preparations For The Arab Summit In Baghdad 31 MARCH

 The Foreign Minister Chairs The 14th Meeting Of Preparations For The Arab Summit In Baghdad

Thursday, March 27, 2025, 17:43 | Politics Number of readings: 107  Baghdad / NINA / Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired the fourteenth meeting on the ongoing preparations for hosting the upcoming Arab Summit in Baghdad in May 2025.

The meeting was attended by Minister of Interior Abdul Amir Al-Shammari, Minister of Finance Taif Sami, Secretary-General of the Council of Ministers Hamid Al-Ghazi, Mayor of Baghdad Ammar Musa, in addition to Undersecretary of the Ministry of Foreign Affairs for Administrative and Technical Affairs Ahmed Nayef, Undersecretary of the Ministry for Bilateral Relations Mohammed Bahr Al-Uloom, Chairman of the Political Committee of the Summit, and Undersecretary of the Ministry of Transport, representatives of the concerned ministries and bodies.

The attendees discussed the performance of the operations rooms and logistical support, and procedures for the summit ceremonies.

The decisions of the Media Committee were also reviewed, and developments in the work of the Political Committee were discussed, to ensure the completion of all necessary arrangements for the success of the summit. /End  https://ninanews.com/Website/News/Details?key=1194437

DINAR EXCHANGE:BENEFITS AND RISKS OF THE RV THE IRAQI DINAR, 31 MARCH

 DINAR EXCHANGE

Revaluing the Iraqi dinar could address some economic challenges, but it’s not a guaranteed solution to fix all problems.

Revaluation would make the dinar stronger relative to other currencies, which could:

1.Increase buying power: A stronger dinar would give Iraq more leverage in international trade, reducing the cost of imports.

2.Boost investor confidence: A revalued currency may attract foreign investment, signaling economic stability and growth potential.

3.Improve public sentiment: It could help restore confidence in the economy, especially among citizens holding dinars. However, there are risks:

1.Inflation control: A sudden revaluation could cause inflationary pressure, making goods and services more expensive domestically. 2.Debt burden: If Iraq has significant foreign-denominated debt, a stronger dinar might reduce the cost of repaying that debt, but the reverse could also strain the economy. 3.Oil dependency: The core issue is Iraq’s reliance on oil revenues. If oil prices fluctuate, a revaluation might not be enough to stabilize the economy long-term. In short, revaluing the dinar might help, but it would need to be part of a broader economic strategy addressing diversification, fiscal reform, and debt management.

Mr. Pool: Tier4b activation has begun!! @DINARREVALUATION #iraq #iraqidinar #iraqidinarinvestor

 

PM's Advisor :The Strategic Framework Agreement between Iraq and USA established the foundation for stable bilateral relations, 31 MARCH

  PM's Advisor :The Strategic Framework Agreement between Iraq and USA established the foundation for stable bilateral relations

The Prime Minister's Advisor for Financial Affairs, Mudhar Mohammed Salih, confirmed on Saturday that the Strategic Framework Agreement contributed to strengthening Iraq's financial and banking integration. He also noted that Iraq's relationship with the United States contributed to achieving balance in foreign policy and the economy.

Salih told the Iraqi News Agency (INA): "The Strategic Framework Agreement signed between Iraq and the United States in 2008 formed the basis for the development of paths of stability in bilateral relations between the two friendly countries, and on many axes of joint cooperation, which is important in the relationship with a major country like the United States."

He explained that "the role and importance of the United States in the international coalition forces, through its significant participation in combating ISIS terrorism, is an important element in the process of preserving our country's sovereignty, security, and stability. It provided a solid signal to open the doors of the world to international trade and investment links for Iraq, at high levels, through a large gateway whose title is security, stability, and prosperity with the world."

Salih added, "The agreement was a positive channel for creating an atmosphere of financial and banking relations that charted Iraq's path to integration into the international financial and banking system without fears of international financing, while achieving a high degree of transparency and governance with the international banking market and the international financial and economic community."

He continued, "If the United States is the world's leading energy producer, Iraq is OPEC's second-largest crude oil producer, meaning that our country is a strategic international energy hub, and its security and economic stability will remain essential to international development."

He added, "Since the defeat of ISIS terrorism (and in cooperation with friendly major powers, specifically the United States), our country has been able to pursue a neutral and highly independent policy that seeks to build stable economies in a turbulent world. Iraq is a stable achievement that can be emulated in light of the highly complex regional and international geography and politics." 

He pointed out that "the friendly and cooperative relations between Iraq and the United States have provided Iraq with two important paths over two decades. The first is achieving balance in Iraq's foreign relations with the United States and not relying on a single axis, or what is called engaging in the policy of axes."

He continued, "The other axis is the role of our country's peace strategy, which has led to reducing regional tensions by building balanced relations with international and neighboring powers, after our country became a highly important international and regional player, credited with providing elements of stability in the region and the world."

The Prime Minister's Advisor emphasized that "the continued improvement of the relationship between Iraq and the United States will continue to contribute to achieving stability and sustainable development, while ensuring that this relationship remains balanced and preserves Iraq's sovereignty and the independence of its national decision-making.

 This is currently achieved through mutual respect and America's appreciation for Iraq's positive positions and its commitment to building just regional peace, security, and shared development."   link

IRAQ UPDATE, 31 MARCH

IRAQ UPDATE

Highlights

• ⚖️ Controversy Over Oil Revenues: Citizens’ lawsuits demanding oil revenue sharing are predicted to have serious economic consequences unless the economy stabilizes.

• 📊 Budget Progress: Iraq’s Minister of Planning announces the completion of budget preparations, hinting at potential economic advancements.

• 💼 Banking Reforms: Prime Minister al-Sudani promises crucial banking sector reforms to launch after Eid, emphasizing their historical importance for Iraq.

• 📈 Increase in Gold Reserves: The Central Bank’s gold reserves rose by 10 tons, signaling a strategy to stabilize financial systems.

• 💰 IMF Engagement: High-level talks with the IMF may herald significant currency revaluation and economic breakthroughs for Iraq.

Key Insights

• 📈 Currency Dynamics and Economic Growth: The emphasis on Iraq’s potential for currency revaluation highlights the fragility of the current economic situation, reliant on oil revenues. If reforms can enhance economic stability, the possibility exists for a favorable shift in the Iraqi Dinar’s valuation.

• ⚠️ Risks of Immediate Revenue Sharing: Experts caution that pressing for oil revenue distribution amidst current economic instability could exacerbate challenges, indicating a need for careful reform timing and execution.

• 🏦 Reform as a Catalyst for Stability: Prime Minister al-Sudani’s acknowledgment of the banking sector’s necessity for reform underscores the critical need for a reliable financial system as a foundation for broader economic recovery and reinvestment.

• ⏳ Strategic Timing for Reforms: Waiting until after Eid for launching reforms suggests that the government is strategically timing interventions to resonate positively with the populace and stabilize expectations.

• 🌍 Global Financial Integration: The discourse around Iraq’s integration into the global financial system reveals ongoing efforts and the necessary groundwork before a successful currency revaluation, hinting at broader geopolitical implications tied to the economy.

• 💡 Potential for Investment Opportunities: With developments surrounding the Dinar and wider economic reforms, opportunities for foreign investment could increase, presenting a call to action not only for local citizens but for international investors considering the Iraqi market.

Fnu Lnu :The Dinar is now getting International attention! @DINARREVALUATION #iraqidinarinvestor

 

The government completes the budget schedules amid a deficit that affects jobs and services in Iraq, 31 MARCH

 The government completes the budget schedules amid a deficit that affects jobs and services in Iraq

A government source reported on Saturday that the general budget schedules have been completed and will be submitted to the House of Representatives after the Eid al-Fitr holiday. The source indicated that it will be approximately $200 billion, with a large deficit that will reduce the operating budget and reduce service projects. 

The source told Shafaq News Agency, "The general budget schedules have been completed in a preliminary form and may be transferred to the House of Representatives immediately after the Eid holiday. If this is not possible, it may arrive before the first half of next April so that the legality of its paragraphs can be discussed by the relevant committees in a manner consistent with government spending and the requirements of the stage." 

The source explained that "the total budget amounts will be around $200 billion, with a significant deficit due to the significant decline in strategic reserves of gold and hard currency, in addition to the lack of financial liquidity due to the many projects that require significant spending."

The source indicated that "the operating budget will be reduced, and the pace of service projects launched by the government will be reduced. Consequently, we may witness an urgent budget, as the Independent High Electoral Commission is requesting its financial allocations by mid-April at the latest, to enable it to allocate its spending to prepare for the elections in October."

Economic experts have warned of the impact of delaying the approval of the general budget on economic activity in Iraq, given that it represents a strategic plan for economic development, job creation, and financial stability. At the same time, they emphasized the importance of disbursing the budget, rather than approving it without funding, as occurred last year. This comes amid government assurances that the economic situation is "stable."    

The "triennial" federal budget was approved in 2023, for the years 2023, 2024, and 2025. However, Parliament must approve the budget schedules for each year, and the current year's budget schedules are still with the government, which is currently amending them.   link