THE IRAQI ECONOMY IS UNDER THREAT. AN EXPERT WARNS OF THE REPERCUSSIONS OF RELYING ON OIL

THE IRAQI ECONOMY IS UNDER THREAT. AN EXPERT WARNS OF THE REPERCUSSIONS OF RELYING ON OIL

Economic expert Faleh Al-Zaidi warned on Tuesday of the repercussions of Iraq’s continued reliance on oil revenues without taking actual steps to diversify the national economy, stressing that this approach makes the country vulnerable to fluctuations in global markets.

Al-Zaidi explained in a statement to the Al-Maalouma Agency that “oil revenues are by nature subject to fluctuations in the international market and are beyond the direct control of the Iraqi government,” noting that “global political factors often affect oil prices.” 

He pointed out that “the trade policies pursued by former US President Donald Trump, including the imposition of tariffs, contributed to an economic recession that affected several countries, including Iraq.”

Al-Zaidi added that “the success of the ongoing negotiations between the US and Iran will have a positive impact on the region, but it has two contrasting effects on Iraq. On the one hand, lifting sanctions on Iran may contribute to increasing oil production and improving gas supplies, which would address some of the electricity shortage problems in Iraq. On the other hand, the increase in oil supply may lead to lower prices.”
He stressed the need to “diversify the Iraqi economy and develop alternative sources of income,” warning that “continued reliance on oil will force the country to resort to borrowing if global prices decline.”

It’s worth noting that Iraqi oil prices fell today in conjunction with a decline in global oil prices as investors lowered their expectations for demand growth due to the ongoing trade war. Iraq has witnessed significant volatility in oil prices since Trump imposed tariffs on most countries around the world, causing a global economic recession. 

GOLDILOCKS: BREAKING NEWS: Iraq activates in mid-2025 (GLOBAL ANNOUNCEMENT)

 GOLDILOCKS: BREAKING NEWS: Iraq activates in mid-2025 (GLOBAL ANNOUNCEMENT)

Highlights

• ⏳ : The speaker emphasizes that these developments are a part of a longer-term trajectory for Iraq’s economy and global standing. 

  Understanding the geopolitical context and remaining aware of how international relationships may influence Iraq’s banking reforms is essential. As other countries move to develop their own currencies, the future role of the dinar in oil transactions will likely remain uncertain amidst ongoing geopolitical tensions.

• 🌍 Importance of Staying Informed: Finally, the update frames the importance of staying informed in a rapidly evolving global financial landscape.

   As new systems come into play and many economies navigate through similar transformations, being part of the dialogue will equip individuals and businesses to respond to changes actively. Regular updates from Goldilocks serve to keep the audience engaged and aware of these significant financial developments.

The update from Goldilocks Global Banking News on the status of Iraq’s economic transformation highlights a period of significant change that could reshape the nation’s role in global finance and trade. The knowledge shared not only informs about the local developments but also situates these changes within the broader context of international banking dynamics and the ongoing demand for modernization in global trade practices.

FIREFLY: they are still hiding Article 12-2C because it's rate related for the budget #iraq #iqd

 

Special | Directive from Masroor Barzani regarding the resumption of Kurdistan Region oil exports

 Special | Directive from Masroor Barzani regarding the resumption of Kurdistan Region oil exports

The President of the Kurdistan Regional Government, Masroor Barzani, directed the team concerned with the process of resuming the export of oil from the Kurdistan Region, to follow several measures to facilitate and accelerate the resumption of the export process.

The Council of Ministers of the Kurdistan Region held, today, Wednesday, April 30, 2025, a regular session under the chairmanship of Prime Minister Masroor Barzani, and in the presence of his deputy, Qobad Talabani.

 The session was devoted to discussing two main paragraphs, the first is to discuss the latest developments related to negotiations on the resumption of oil exports from Kurdistan in light of the first amendment to the Iraqi Federal Budget Law, and the joint meetings held with the federal government and oil companies in this regard.

 The second paragraph included discussing the proposed draft decision of the Council of Ministers to reorganize the General Directorate of Retirement in the Kurdistan Region, in accordance with the Unified Retirement Law No. (9) of 2014, approved by the Federal Supreme Court.

“More than eight meetings have been held so far between the Kurdistan Region and Baghdad and the teams from both sides, some meetings were held in Baghdad, and others in Erbil,” Kurdistan Regional Government spokesman Bishua Horamani, told the “Jabal” platform, in this regard, adding: “Now there is a good convergence between Erbil and Baghdad about the arrival of a consulting company to evaluate the process of oil extraction in Kurdistan, and determine the cost of the extraction and transportation process.”

“The Prime Minister of the Regional Government, Masroor Barzani, directed during the Council of Ministers session, today, the regional government team to cooperate in all forms in order to resume oil exports, saying: “Just as we were not responsible for stopping oil exports in the past, we will not be an obstacle to the resumption of exports in the future, and we will do all the facilities.”

https://aljeebal.com/posts/5337

JON DOWLING UPDATE

 Jon Dowling

  We’re not quite there yet folks but we’re so very close now. 

Things haven’t reached the ultimate climax in terms of being at their worst, as the late great Kim Clement said. Everything’s converging to the middle!

 You have Gold rising, which affects the foreign currencies and the dollar, which affects cryptos and exotic bonds. 

This is replacing the swift system, which in turn allows the ISO 20022 QFS based system to emerge to the head of the table.

 You have manufactured chaos in the middle east, China, Ukraine, which are all smokescreens while human trafficking and corruption on all fronts is being removed by the military.

 We have one month until the states fairs occur. What do you imagine will be funding that? The aforementioned items. Finally, don’t believe Iraq’s CBI Cabal based leaders when they say no reset this year.

 They said the exact same thing in Kuwait in the early nineties and shifty after they RV ed the dinar then. Know what you hold and hold the line!! 📊👀👀

Mayhem w/ Mel 🔹: UPDATES for other Countries that the US, on Exchange/ Redemption QFS #iqd #iraq

 

Fouad Hussein talks from Washington about Iraq’s priorities in the relationship with America

 Fouad Hussein talks from Washington about Iraq’s priorities in the relationship with America

Iraqi Foreign Minister Fouad Hussein stressed that strengthening the partnership with the United States of America embodies a priority in Iraq’s foreign policy, pointing to the work of activating new agreements, especially in the field of energy.

This came as part of Hussein’s official visit to the United States, and he met on Tuesday with a group of prominent journalists and correspondents from the American media, at the building of the Embassy of the Republic of Iraq in Washington.

During the meeting, the minister reviewed regional and international developments, and highlighted the priorities of Iraqi foreign policy, stressing the Iraqi government’s keenness to strengthen the partnership with the United States in the political, security and economic fields.

According to a statement issued by the Iraqi Foreign Ministry today, April 30, 2025, “The discussion dealt in particular with the challenges related to energy security in Iraq, as the minister stressed that the government is working hard to reduce dependence on imports and strengthen national capabilities in the field of energy production, through the diversification of international partnerships and activating new agreements with a number of countries, in addition to benefiting from international expertise in the field of renewable energy and the investment of associated gas.”

The deliberations touched on the role of US forces in Iraq, and Hussein stressed that “the presence of these forces falls within the tasks of training and advisory support, not within the framework of combat,” stressing “Iraq’s commitment to preserve its national sovereignty, its keenness to continue security cooperation, and prevent the return of the activity of the terrorist organization ISIS, while stressing not to engage in any regional conflicts.”

Regarding the humanitarian situation in Gaza, Hussein stressed that “stability in the region will not be achieved without reaching a just and comprehensive settlement of the Palestinian issue.”

In other axes, the meeting included a discussion on the developments of nuclear negotiations with Iran, Iraqi-Syrian relations, and the importance of supporting efforts to combat terrorism and extremism in the region. In this context, the Foreign Minister stressed “Iraq’s quest to play an effective and balanced role in its Arab and regional environment, based on the principles of mutual respect and common interests,” according to the Foreign Ministry’s statement.