...I have said it many times that this reinstatement of the dinar is nothing but political...If it wasn’t, the Dr Shabibi coup would have never happened.
The newer lower denominations would be in circulation and we would have already been to the bank...if we truly want the TRUTH we must connect the pieces and see it.
Trump’s policy towards Iraq is one of hope but he is also going to first use Iraq as a platform for peace in the middle east.
...When the U.S. really steps up to the plate economically in Iraq you will see wonderous things happen...
INTERNATIONAL WARNING TO IRAQ.. AN EXPERT DISCUSSES THE IMF REPORT: YOU ARE TO BLAME, TOO.
Economic expert Suham Yousef discusses the latest report by the International Monetary Fund (IMF), which included significant warnings to the Iraqi government regarding the continued decline in revenues while increasing public spending, which constitutes a serious structural deficit in the economy’s structure.
The expert’s criticism of the IMF itself stems from the fact that the IMF itself is unaware of the Iraqi political and social context, which makes implementing the “ready-made recipes” it offers extremely difficult.
Its proposals clash with the spread of the deep state’s influence and its obstruction of tax reform aimed at increasing non-oil revenues, for example.
The proposal to rationalize spending also clashes with the fragile social reality and the dependence of millions of Iraqis on government salaries amid a weak private sector and the expansion of the “parallel economy.”
This situation places Iraq facing an imbalance with every barrel of oil sold,the continued depletion of financial reserves, the rise of public debt to 62%, and the decline of foreign investment to 0% of GDP.
In its latest report, the International Monetary Fund (IMF) issued a stark warning about worsening financial and economic vulnerabilities, warning that the country is heading toward a widening budget deficit amid declining oil prices, weak non-oil revenues, and ballooning current expenditures, particularly for wages and pensions.
The report presents an accurate but worrying picture of the Iraqi economy and raises fundamental questions about the government’s preparedness to contain the coming crisis.
Despite the government’s attempts to present plans to diversify the economy, the reality tells a different story. Non-oil growth slowed sharply to just 1% in 2024, according to IMF estimates, compared to 13.8% the previous year. This decline reveals that non-oil sectors remain limited in their impact and suffer from weak infrastructure, a lack of real incentives, and an unattractive investment environment.
MZ: My redemption center/wealth management folks are not working this weekend…nor are they on call. So for me I am not looking for an RV this weekend…but these folks have been working hard the last few weeks. I even have a Chase contact who said they have lifted restrictions on amounts of foreign currency in preparation …I loved hearing that one.
MZ: In Iraq: “ Among them are forgery, currency smuggling,
and real estate usurpation. (CONSIOUS)opens 15 files with the Public Prosecution” They are going after old crimes from Sadaam Hussein and the Bush camp that was stealing from Iraq for years. They are cleaning up old files.
MZ: These are things that needed settled before they revalue. I love they are cleaning things up.
IMF EXECUTIVE BOARD CONCLUDES 2025 ARTICLE IV CONSULTATION WITH IRAQ
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Iraq and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis.
Iraq has managed to uphold domestic stability despite regional turmoil and global uncertainty. At the same time, the non-oil economy slowed down in 2024 following a very strong growth in 2023. Inflation has remained subdued amid weaker demand. Financing constraints and lower oil revenues are expected to constrain fiscal spending, taking an additional toll on economic activity.
Against a baseline of low oil prices, fiscal deficits and external accounts are projected to deteriorate further over the medium term unless significant reforms are undertaken to increase non-oil revenues, control the public wage bill, and boost non-oil growth potential through an ambitious structural reform agenda.
(This is why the budget tables for 2025 have not yet been released. The GOI does not want to complete the projects allocated for 2025 due to a drop in oil revenues.)