...there are still a number of troublesome issues with the left-over Iranian militias. This is still at the root of the problem in Iraq... I am not throwing away all this progress we have seen over these last two years ...things are moving quickly now..
...remember that the “Development Road Project” is still underway and the initial funding for the first “Economic City” was provided...
This is what is going to bring the economic boom. Iraq has also opened up to the strong possibility that their future revenues cannot rely solely on oil.
Iraq: over $2B in annual returns from foreign reserves investments
Shafaq News/ Iraq is reaping at least $2 billion annually from investments of its foreign currency reserves, a top financial adviser to the prime minister said on Tuesday.
“These investments are often short-term and directed toward US, European, or British treasury bonds to generate suitable returns,” said Mudher Mohammed Saleh in an interview with Shafaq News, noting that the investment portfolio prioritizes safety and liquidity, allowing assets to be swiftly converted into cash without incurring losses.
“The returns are appropriate and the risk level is low.”
Saleh explained to that the earnings from the reserves are categorized into two types: realized income, such as direct interest, and unrealized gains derived from portfolio diversification and potential profits from currency and gold exchange rate fluctuations.
Iraq’s central bank recently reported that its foreign reserves declined by 10.18% in 2024 to 130.81 trillion dinars ($87.6B) from 145.64 trillion dinars ($97.6B) in the same period of 2023.
Article: “Plunging Oil Prices Jeopardize Iraq’s Budget: Will the Government Resort to Dollar Revaluation?"
Quote: "Iraq is bracing for renewed economic turbulence as oil prices fall below the critical $65 per barrel mark—five dollars short of the benchmark adopted in the country’s federal budget.
The slide in global crude markets threatens to erode the very foundation of Iraq’s oil-dependent economy
, prompting speculation over potential fiscal and monetary policy shifts..
Quote continued: "...The central bank’s hard currency reserves, considered a last line of defense, are unlikely to be tapped under current circumstances. Still, one policy instrument remains within reach—and contentious: the exchange rate. Economic expert Ahmed al-Ansari noted that while Iraq’s reserve fund is generally safeguarded for emergencies, adjusting the value of the Iraqi dinar relative to the U.S. dollar remains a plausible option. “We’re unlikely to see the reserves touched, but a revaluation of the dinar, coupled with domestic borrowing, could help bridge a potential deficit,” al-Ansari explained."
No Budget, No Answers: Iraq’s 2025 financial plan still missing
Shafaq News/ The Iraqi government has yet to submit the 2025 budget tables to parliament, prompting criticism from the Parliamentary Finance Committee, which described the delay on Tuesday as “unexplained.”
Committee member Saad al-Noubi said both Planning Minister Mohammed Tamim and Finance Minister Taif Sami had previously told lawmakers the tables had been sent to the Cabinet. “But until now, nothing has arrived,” he told Shafaq News, calling the delay a “clear challenge” to the legislature.
The documents were expected before the end of March, in line with Iraq’s three-year federal budget covering 2023 to 2025. Al-Noubi said the committee had requested clarification from the ministers but received no reply.
The absence of the budget tables has raised concerns over potential disruptions to public spending, including public sector salaries and regional allocations, particularly to the Kurdistan Region. Without parliamentary approval, planned expenditures for 2025 remain on hold.
Iraq faces mounting economic pressures and political friction between branches of government, with lawmakers warning that further postponement could strain fiscal planning and service delivery.
Redemption/exchange process & Cheat Sheet for Exchange Appointment by Fleming
September 17, 2023
Cheat Sheet for Appointment with Supplemental Information, Fleming (Rev. 5.21.2021)
List of currencies:
• US
• UK
• Kuwait
• Canada
• Mexico
• Russia
• China
• Venezuela
• Iranian Rial
• IRAQ
• Indonesia Rupiah
• Malaysia
• Vietnamese
• Brazil
• Saudi Arabia
• Qatar
• United Arab Emirates
• Turkey
• Afghanistan
• India
• Libya
• Japan
Cheat Sheet for Appointment with Supplemental Information, Fleming (Rev. 5.21.2021)
If you do not have a project but wish to help, below is list of 15 categories of projects from which you can choose. Each category is associated with an Executive Order (EO). You can look up the EO to learn what the focus is. This will help if you do not have an existing project.
• Infrastructure – (There are 5 EOs related to infrastructure. One is #13807 8/15/2017 – Review purpose and what is needed)
• Energy
• International and American business
• Security
• Violence and criminals
• American Indians, refuges and pacific islanders
• Housing
• Technology and space
• Agriculture, oceans, water
• Health
• Spiritual
• Terrorists
• Education
• Financial and money
• Veterans
Project Cover Sheet
Name of Project
Name of Submitter
Phone number
Email Address
Date of Submission
Description of the project – give as much detail as possible. (If you have a plan or outline prepared, attach this form to front of that plan).