Bruce
Iraq's foreign reserves rise to a record high
4/2/2025
The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that foreign reserves are at their highest historical levels, helping to achieve economic balance and stability for the country. He also indicated that reserves still cover more than 100% of the currency in circulation.
Saleh said in a press statement: “The slight decline in the Central Bank’s reserves, estimated at 1% of the country’s total foreign reserves, is linked to two factors: First, the increased level of foreign currency reinforcements provided by the Iraqi banking system to its correspondents abroad for the purposes of financing trade and external transfers, which led to a significant decline in the dollar exchange rate against the dinar in the parallel market and an increase in the value of the dinar in that parallel market.”
He explained that "control over domestic liquidity levels has become high, significant, and influential in light of the increasing external value of the dinar, which continues to indicate a decline in the effectiveness of the parallel or secondary market in the country. There has also been a very clear decline in growth rates in the general price level and a very high level of price stability, unlike anything the country has ever witnessed before."
He added, "The other issue depends on the degree of growth in the amounts in which the public finances exchange monthly oil revenues in foreign currency for the dinar for the benefit of total spending (which is the basis of foreign reserves) and converting them into Iraqi dinars," noting that "this is also linked to the degree of discipline and control of public expenditures on the one hand, and thus the slowdown in the liquidation of government foreign currency proceeds into domesticliquidity that can be spent on the other hand through the general budget."
He pointed out that "taking into account the risks of fluctuations in average export oil prices of about $70 or less per barrel in energy markets, which occurred in recent months, this means that the compatibility between the level of replenishment of foreign reserves (through collecting them through cash issuance), which may have become slower and less rapid on the part of public finance, and external transfers in foreign currency for the benefit of financing private sector trade on the part of the monetary authority, which is still at a relatively high pace, is what caused this deficiency or slight decline in foreign reserves."
Saleh continued, "Foreign reserves remain at their highest historical levels, achieving economic balance and stability for the country. The function of foreign reserves remains to defend price stability. However, it is also wise for the Central Bank of Iraq to closely monitor the movements of the current account of the balance of payments to maintain the stability of foreign reserves and monitor their growth safely."
He stressed that "these foreign reserves still cover more than 100% of the currency in circulation and enjoy a high commercial efficiency of more than 15 months of imports, compared to the global standard of three months." He added that "the monetary authority is the only competent entity responsible for managing the country's monetary policy at the domestic and external levels, with a high degree of consensus in terms of balance and transparency to
achieve and maintain economic stability." LINK
🚨 APRIL 1: Iraq’s Global Trade Switch Goes Live
Starting April 1st, Iraq officially activates the TIR system (Transports Internationaux Routiers), a UN-backed global customs framework that links the country to international trade and transport routes.
What it means:
— Iraq joins the world’s largest transit system
— Streamlined border crossings & customs clearance
— Massive boost to exports, imports, and foreign trade flows
— Another domino in Iraq’s economic reintegration
This isn’t just logistics. This is Iraq re-entering the global marketplace with modernized infrastructure and digital compliance.
TIR = global access, real-time clearance, and economic sovereignty.
Iraq just leveled up.
Iraq Signs Contract for New Economic City
The National Investment Commission (NIC) has signed the Task Order for Phase One of developing the Al-Tayeb Specialised Economic Service Zone in Maysan Province, positioning it as Iraq's first integrated economic city.
Key Developments:
The project aims to:
The meeting was attended by the Governor of Maysan, members of Executive Order Committee 24771, the Maysan Investment Commission, and representatives from the Prime Minister's Office. Discussions focused on ensuring timely implementation, promoting sustainable development, and creating attractive investment opportunities in Iraq.
(Source: NIC)
MILITIAMAN: Iraq Dinar News-Final Budget Accounts-Black Rock in Iraqi Port-Rafidain Bank Global Financial System
In this chapter, we delve into the recent developments surrounding Iraq’s fiscal policy, budgetations, and economic advancements as indicated in a video discussion that took place on Liberation Day, April 2.
The speaker provides insightful commentary on the notable link between the completion of prior budget accounts and the formulation of the upcoming 2025 budget, emphasizing the significance of financial management laws established in Iraq.
Key actors, such as the Ministry of Finance, BlackRock, and the Rafidain Bank, are essential components of the restructuring and modernization of Iraq’s economy.
This discussion not only highlights the thought processes and essential legislation guiding Iraq’s financial kingdom but also addresses the prospects of economic stability and growth, showcasing the critical dynamics at play in shaping Iraq’s future.
The discussions surrounding Iraq’s financial developments reveal a landscape poised for transformation, driven by strategic budgeting practices, international investments, and a renewed emphasis on transparency and governance. The convergence of key players like the Rafidain Bank and BlackRock within Iraq not only signifies a vital step towards economic recovery but also sets the stage for potential integration into the global financial system. Overall, the anticipated discussions and legislative movements surrounding Iraq’s financial health are promising indicators of a nation ready to embark on a path of sustainable growth and development, marking a crucial moment in the country’s journey towards economic stability.
This chapter underscores the importance of these developments, which will be continuing signals of progress and engagement in Iraq’s economic future, inviting thoughtful observation as events unfold.
Read also: Ask THESE Questions Before You Go To The Bank (Dinar RV Strategy 2026)
