Jeff
They've got to change the rate before the new budget amendments can get approved and implemented...they're preparing the budget to come forward, potentially at the start of August...
It's very simple... We'll see on that. We don't know that for a fact.
That's opinion. But a lot of this has to do with accounting periods and the timing of the rate change.
Shafaq News – Baghdad
Iraq, OPEC’s second-largest oil producer, ranked third among Arab nations in refinery output for 2024, according to data from the Energy Research Unit (ERU).
The country boosted its refining capacity by 60,000 barrels per day (bpd) over the last year, reaching 988,000 bpd—up from 928,000 in 2023.
Saudi Arabia maintained its lead in the Arab world, followed by Kuwait. After Iraq came the UAE, then Algeria, Egypt, and Qatar, while Libya ranked last.
At the global level, total refinery production rose by 807,000 bpd in 2024, reaching 93.631 million bpd—up from 92.823 million the year before.
Frank26
Article "Prime Minister's Advisor: Iraq is qualified to become a regional financial center with four strategic powers." This is an insult.
How dare you tell me Iraq is going to become the financial hub in the Middle East at 1310...Be...wise enough, astute enough...confident enough to know none of this is at 1310...You're smart enough, wise enough, savvy enough, you know what these articles are doing.
They're telling you everything (Asraflak) about monetary reform without giving you a new exchange rate because if they give you a new exchange rate then they got to also give you the lower notes.
Those 2 are as top secret as you can get.
US President Donald Trump has imposed a 30% tariff on Iraqi imports, a move expected to increase pressure on Iraq’s already fragile economy, an economic expert informed Shafaq News on Wednesday.
Nawar al-Saadi, professor of international economics, warned that the decision could have compounded effects on Iraq’s domestic market, cautioning that although exports to the United States are modest, the tariff will expose the deeper vulnerabilities in Iraq’s economic structure.
“Iraq lacks a diversified and resilient export base,” he said.
Al-Saadi added that such tariffs are rarely based on purely commercial considerations, linking the decision to Washington’s evaluation of Iraq’s trade compliance, regional positioning, and alignment on sanctions targeting Iran or Russia.
He further cautioned that the tariffs could signal a shift in broader trade relations, with potential consequences affecting not ties with the United States but also with other Western and regional partners.
To mitigate the fallout, al-Saadi urged a three-track response. He called on Baghdad to establish a direct diplomatic channel with Washington and to push for exemptions, reduced rates, or a delay in enforcement.
He also emphasized the need to expand trade partnerships, particularly with markets in China, India, Turkiye, and the Gulf. Achieving this, he noted, would require comprehensive industrial reforms and direct support for Iraqi producers to compete internationally.
Finally, Al-Saadi stressed that Iraq’s heavy reliance on oil leaves it exposed to global shocks and political volatility. “Diversification is no longer a long-term option—it’s an immediate national need,” he concluded, urging policymakers to reexamine Iraq’s economic model.
Sandy Ingram
One of the biggest concerns about Iraq's currency regarding a revaluation is the country has overprinted the money.
Iraq's efforts to reduce the circulation of the IQD is excellent news.
The Central Bank of Iraq's gold reserves rose sharply in the first quarter of 2025. A statement from the CBI said gold reserves reached IQD 21.2 trillion, which is about $16.2 billion, an increase of 19%...held in the previous quarter.
It added that gold reserves remains a vital component of Iraq's foreign reserves...The gold reserves do not include the over $100 billion in foreign reserves held in Iraq's accounts in the United States.
Iraq’s CF Grants PM-Designate Full Authority To Form Cabinet 2026-04-28 Shafaq News- Baghdad The Coordination Framework (CF) agreed Tu...