Exciting news from Iraq! Iraq is on the cusp of a new economic era, driven by its robust GDP and rapid push toward sustainable development.
Iraq’s Economic Power. Iraq ranks as the third-largest economy in West Asia among Arab nations (behind Saudi Arabia and UAE), with its GDP signaling a bright future.✨
Two-Pronged Progress
馃毄Rapid Development. Iraq’s unprecedented economic and political stability is fueling faster-than-expected progress, positioning it as a regional leader.
Investment Magnet.
馃毄The country’s stable environment attracts investment in development projects, boosting sustainable growth.
Urban Renaissance & Infrastructure. The government’s focus on infrastructure, urban projects, and services is driving high economic growth rates, proving successful in accelerating progress.
Geo-Economic Promise. Iraq is carving out a promising geo-economic role, leveraging stability to sustain development and solidify its regional influence.
This isn’t just talk...promising path, indicated by high rates of economic growth."Iraq’s GDP growth and stability are real, tangible steps toward a modern, diversified economy. From urban projects to investment opportunities proven to be successful in accelerating progress.
SUMMARY ABOUT RECENT NEWS OF THE NEW INICIATIVE OF IRAQ: A DIGITAL CURRENCY BACKED BY THE IRAQI DINAR
馃嚠馃嚩 Recent News About Iraq’s Digital Dinar
Iraq has made significant progress in implementing its own central bank digital currency (CBDC).
The goal is to modernize the financial system and reduce dependence on physical cash.
馃彟 Key Developments in Iraq’s Digital Currency Implementation
Launch of Strategic Projects: On December 26, 2024, the Governor of the Central Bank of Iraq, Ali Al-Allaq, announced the launch of strategic projects to support Iraq’s digital transformation. These include the development of instant payment systems, domestic payment cards, unified payment gateways, and regulations for licensing digital banks, with a strong focus on cybersecurity.DINAR REVALUATION+1DINAR REVALUATION+1
Gradual Transition Toward Digital Currency: On March 1, 2025, Mazhar Muhammad Salih, the Prime Minister’s financial advisor, stated that the Central Bank of Iraq is working on introducing a digital currency to gradually replace cash. The initiative aims to improve financial transparency, reduce the volume of money circulating outside the banking system, and lower costs related to printing banknotes.
DINAR REVALUATION+2iraqnewsgazette.com+2DINAR REVALUATION+2
Planning the Digital Infrastructure: On February 28, 2025, Governor Al-Allaq mentioned that the Central Bank is exploring the creation of a domestic data center as part of the digital currency strategy, ensuring that the technological infrastructure is sufficient to support the transition.DINAR REVALUATION
馃搮 Next Steps and Expectations
Although no official launch date has been announced yet, the ongoing initiatives clearly indicate Iraq's commitment to digital transformation in its financial sector. Pilot programs and regulatory frameworks are expected in the coming months to pave the way for nationwide adoption of the digital dinar.
In summary, Iraq is steadily moving toward a central bank-backed digital currency, aiming to modernize its financial system, enhance transparency, and reduce reliance on physical cash.
TRANSLATION IN SPANISH
En abril de 2025, Irak ha avanzado significativamente en la implementaci贸n de su propia moneda digital respaldada por el banco central (CBDC), con el objetivo de modernizar su sistema financiero y reducir la dependencia del efectivo.
馃彟 Avances en la implementaci贸n de la moneda digital en Irak
Lanzamiento de proyectos estrat茅gicos: El 26 de diciembre de 2024, el gobernador del Banco Central de Irak, Ali Al-Alak, anunci贸 el inicio de proyectos estrat茅gicos para apoyar la transformaci贸n digital en el pa铆s. Estos incluyen el desarrollo de pagos instant谩neos, tarjetas locales, pasarelas de pago unificadas y la emisi贸n de regulaciones para licenciar bancos digitales en Irak, con un enfoque en ciberseguridad. DINAR REVALUATION+1DINAR REVALUATION+1
Transici贸n gradual hacia la moneda digital: El 1 de marzo de 2025, Mazhar Muhammad Salih, asesor financiero del primer ministro, destac贸 que el Banco Central de Irak est谩 trabajando en la creaci贸n de una moneda digital para reemplazar gradualmente el uso de efectivo. Esta medida busca mejorar la transparencia financiera, reducir la circulaci贸n de dinero fuera del sistema bancario y disminuir los costos asociados con la impresi贸n de billetes.
DINAR REVALUATION+2iraqnewsgazette.com+2DINAR REVALUATION+2
Planificaci贸n de infraestructura tecnol贸gica: El 28 de febrero de 2025, el gobernador Al-Alak mencion贸 que el Banco Central est谩 considerando establecer un centro de datos en Irak como parte de los esfuerzos para implementar la moneda digital, asegurando que la infraestructura tecnol贸gica sea adecuada para respaldar esta transici贸n. DINAR REVALUATION
馃搮 Pr贸ximos pasos y expectativas
Aunque no se ha anunciado una fecha espec铆fica para el lanzamiento oficial de la moneda digital, las iniciativas en curso indican que Irak est谩 comprometido con la modernizaci贸n de su sistema financiero. Se espera que, en los pr贸ximos meses, se implementen pruebas piloto y se establezcan regulaciones adicionales para facilitar la adopci贸n de la moneda digital por parte de la poblaci贸n y las instituciones financieras.
En resumen, Irak est谩 avanzando hacia la adopci贸n de una moneda digital respaldada por el banco central como parte de su estrategia para modernizar el sistema financiero, mejorar la transparencia y reducir la dependencia del efectivo.
WALKINGSTICK: Where are the new lower notes? Where's the new currency?
AKI: The new currency at the CBI bank right now.
WALKINGSTICK: Okay! - Walkingstick commentary: Aki was very adamant about the lower denominations being at the CBI right now. The look on his face told me this is no B.S.
When Aki says something it's not an opinion or a question, it's a statement...Aki would not have spilled it out that way if they were not real...Aki doesn't care about the exchange rate like you and I do...He's running the bank for his boss.
Aki will make no money, his boss will make no money off the new exchange rate. You will.
But Aki will profit via people coming into his bank to exchange the three zero notes for the American dollars and they will come in for their investment in Iraq.
Iraq's Renaissance: Stability as the Bedrock for Currency Revaluation
In the heart of the Middle East, Iraq stands at a pivotal juncture, weaving a tapestry of peace, security, and diplomatic prowess that promises to redefine its global standing. Under the astute leadership of Prime Minister Mohammed Shia al-Sudani, Iraq has embarked on a transformative journey, fortifying its bilateral relations with global powers such as France and Spain.
Today’s diplomatic engagements, including meetings with French Foreign Minister Jean-No毛l Barrot and Spanish Interior Minister Fernando Grande-Marlaska, underscore Iraq’s commitment to fostering stability not only within its borders but across the region. These strategic partnerships, rooted in mutual respect and shared visions, are laying the groundwork for an economic renaissance, with currency revaluation emerging as a tangible prospect. Dr. Mohammed Ridha Al-Shabibi, a luminary in Iraq’s financial sphere, has long championed stability as the cornerstone for such economic reforms, and today’s developments resonate profoundly with his vision.
The signing of a landmark security and crime control agreement with Spain exemplifies Iraq’s proactive stance in bolstering its internal security framework.
This accord, inked by Iraq’s Interior Minister Abdul Amir Al-Shammari and his Spanish counterpart, targets terrorism, human trafficking, and drug-related crimes through the exchange of expertise and cutting-edge technology. Concurrently, Prime Minister al-Sudani’s discussions with French Foreign Minister Barrot highlighted the burgeoning Iraqi-French relationship, poised to culminate in President Emmanuel Macron’s forthcoming visit and the Iraqi-French Business Forum in Baghdad.
These initiatives reflect Iraq’s unwavering dedication to creating a secure and prosperous environment, essential for economic revitalization. By prioritizing regional stability, particularly in Syria, and advocating for inclusive governance, Iraq is positioning itself as a beacon of peace—a prerequisite for the currency revaluation envisioned by Dr. Al-Shabibi.
Today’s robust diplomatic agenda extended to the Ministerial National Security Council meeting, chaired by Prime Minister al-Sudani in his capacity as Commander-in-Chief of the Armed Forces. The council’s approval of the Iraqi National Security Strategy (2025-2030) and the advancement of the criminal justice data integration project signal a forward-thinking approach to governance.
These measures, coupled with preparations for the Arab Summit in Baghdad on May 17th, demonstrate Iraq’s readiness to assume a leadership role on the regional stage. The digital transformation of criminal justice processes and adherence to United Nations resolutions further enhance Iraq’s international credibility, creating a fertile ground for economic reforms.
Dr. Al-Shabibi’s foresight—that a stable and secure Iraq could unlock the potential for currency revaluation—finds resonance in these concerted efforts to strengthen institutional frameworks and global alliances.
As Iraq continues to navigate its path toward stability, the prospect of currency revaluation emerges not as a distant dream but as an achievable reality. The nation’s strategic engagements with France and Spain, alongside its domestic security advancements, reflect a holistic approach to nation-building. Prime Minister al-Sudani’s vision, echoing Dr. Al-Shabibi’s principles, underscores that peace and security are not merely aspirations but the very pillars upon which economic prosperity rests.
With the world watching, Iraq’s renaissance is a testament to the power of diplomacy, resilience, and unwavering commitment to a brighter future. As these foundations solidify, the revaluation of the Iraqi dinar looms on the horizon, promising to herald a new era of economic empowerment and global integration.
NATIONAL ECONOMY PARLIAMENTARY COMMITTEE PLANS ECONOMIC OVERHAUL FOR 2025 BUDGET
The National Economy, Industry, Trade, and Planning Committee, chaired by MP Farid El-Bustani, met on Wednesday to discuss the economic situation and plans for the 2025 budget.
The meeting criticized the 2024 budget for lacking an economic vision and decided to adopt the McKinsey plan from 2017.
The committee aims to develop ideas with input from experts and international organizations like the World Bank and IMF to present a comprehensive economic plan for the new government.
The meeting also discussed restoring confidence in the banking sector and compensating depositors.