Article: "The Iraqi private sector confronts significant obstacles that must be addressed to unlock the country's economic potential, according to Professor Frank Gunter of Lehigh University, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London recently."
This clarifies my analysis that Iraq is simply not ready for monetary policy changes or economic revamping. There will not be an RV any time soon but it will happen.
All the Annual Financial Reports I have read (84 pages) say exactly what professor Frank Gunter says in his address to the IBBC crowd.
The Central Bank of Iraq revealed on Saturday the size of Iraq's external and domestic debts for 2024.
The bank stated in an official statistic, a copy of which was received by the (Video News) Agency, that the volume of debt owed by Iraq in 2024 amounted to 54 billion and 601 million dollars,
a decrease of 2.94% compared to 2023, in which the debt amounted to 56 billion and 207 million dollars.
It added that the internal public debt amounted to 85 trillion and 586 billion dinars at the end of June, an increase compared to 2024, in which the internal debt amounted to 83 trillion and 80 billion dollars. link
Member: Is this attack on Iraq the start of the RV or a distraction?
MZ: Maybe its both . We may be heading to a culmination here. With this unrest gas and oil prices are about to go up…they may spike in the next day or two…which will mean a spike at the gas pumps
MZ: oil prices are in the low 70’s right now….a oil price spike would put Iraq well above the number they needed to revalue their currency.
Member: Kim Clement prophesied Iraq would RV after Israel attacked Iran.
The United Nations Security Council is set to convene Tuesday evening to review a report on Iraq’s current political and humanitarian situation, with a particular focus on the increasingly strained relationship between the Kurdistan Regional Government (KRG) in Erbil and the federal government in Baghdad.
The meeting will include a detailed briefing by Mohamed Al Hassan, the Special Representative of the UN Secretary-General for Iraq and head of the UN Assistance Mission for Iraq (UNAMI).
According to diplomatic sources, part of the discussion is expected to center on the controversial decision by some UN member states to support the withdrawal of the Kurdistan Workers’ Party (PKK) from Iraqi territory as a mean to de-escalate ongoing tensions with Turkey.
Hassan’s report will also shed light on key developments in Iraq’s political and security landscape, as well as challenges in humanitarian affairs. Notably, the report is anticipated to highlight worsening tensions between Erbil and Baghdad following Iraq’s decision to halt salary disbursements to civil servants in the Kurdistan Region.
The move by Iraqi Finance Minister Taif Sami to suspend payments has drawn criticism from KRG officials, who emphasize they have fully complied with the terms of the federal budget law. Erbil accuses Baghdad of using financial pressure to punish the Kurdish population, deepening the rift between the two governments.
KRG representatives have reiterated their commitment to constitutional and budgetary obligations, stating that despite their compliance, the federal government continues to withhold salaries under various pretexts, creating a humanitarian crisis and eroding trust.
Tensions between the Kurdistan Region and the federal government of Iraq have escalated over the past year, largely driven by disputes over oil revenue sharing, budget allocations, and governance. The salary crisis has become a flashpoint in this broader conflict, with the KRG repeatedly calling for Baghdad to fulfill its legal and constitutional duties. The role of international actors, including the United Nations, is seen as critical in mediating and potentially resolving these ongoing disputes.