Tuesday, January 27, 2026

Another blow to the constitution: The failure to elect a president brings back the scenario of coldly disregarding constitutional requirements

  Another blow to the constitution: The failure to elect a president brings back the scenario of coldly disregarding constitutional requirements.

The constitutional process in Iraq has suffered another setback with the postponement of the presidential election session, despite the country nearing the end of the constitutional deadline. This comes at a time when Parliament was expected to resolve this sovereign issue, amidst escalating political disputes, particularly within the Kurdish political bloc, and conflicting interpretations regarding adherence to constitutional timelines.

In a move that has raised widespread questions, the parliamentary session designated for electing the president did not convene, even though the constitutional deadline is in its final stages. This has revived fears of a repeat of past instances where deadlines were exceeded.

The Parliament's media office announced the postponement of the presidential election session in a brief statement, without specifying a new date. Some members of Parliament stated that the postponement was due to the lack of necessary political consensus to hold the session, which has opened the door to various interpretations regarding the future of the process and the possibility of circumventing constitutional deadlines.

A Kurdish request for postponement:
According to official documents, the Kurdistan Democratic Party (KDP) submitted a request to postpone the session due to ongoing disagreements within the Kurdish political bloc regarding the presidential candidate.

The lack of a final consensus that would allow for a decisive election session prompted the postponement to avoid the session's failure or its holding without results.

The core of the crisis lies in the continued division between the two main Kurdish parties. The KDP has put forward its candidate, Fuad Hussein, while the Patriotic Union of Kurdistan (PUK) insists on its candidate, Nizar Amidi. Political mediation efforts have thus far failed to unify positions or agree on a compromise candidate, leaving the presidency hostage to the Kurdish-Kurdish dispute and its repercussions on the power balance in Baghdad

Political analyst Ali Nasser, familiar with the issue of exceeding deadlines, stated that “adherence to constitutional deadlines has not been consistent in past sessions, as we have witnessed, on more than one occasion, exceeding these deadlines, sometimes by several months.”

Nasser added to Iraq Observer that “what distinguishes the current phase from its predecessors is the clear emphasis by the head of the Supreme Judicial Council, Faiq Zaidan, on the necessity of adhering to important constitutional deadlines, even though the Iraqi constitution does not explicitly stipulate penalties for exceeding these deadlines.”

Nasser explained that “divisions within the Kurdish political bloc have directly impacted the selection of the president, given the lack of a unified candidate from the two main parties,” noting that “these divisions coincided with the nomination of Nouri al-Maliki for the premiership, which has added a new layer of complexity to the political landscape.”

He added that “the agreements were supposed to be decided first within the Kurdish house, before moving on to discussing them with the Coordination Framework as the representative of the largest bloc, but the recent meetings, whether between the Coordination Framework and the Democratic Party, or with the Patriotic Union, did not result in setting clear deadlines or agreeing on final names.”

In this context, constitutional experts explain that Article (72/First/B) of the Constitution set the deadline for electing the President of the Republic at thirty days from the date of the first meeting of the new House of Representatives. Since the House held its first session on December 29, 2025, the last day of the constitutional deadline is January 29, 2026.

They emphasize that the calculation of the period begins from the date of the meeting, not from the date of the vote, and that any interpretation to the contrary leads to an unjustified extension of a deadline explicitly stipulated in the constitution, noting that the procedural deadlines for nomination, objection and judicial resolution are part of this deadline and not added to it.

With open scenarios and the country entering the final days of the constitutional deadline, fears are growing that the continuation of political disputes will lead to a new postponement, which may open the door to another jump over deadlines, not only in the election of the President of the Republic, but also with regard to the appointment of the next Prime Minister, in a scene that indicates the weakness of political consensus, and the difficulty of managing constitutional entitlements within their specified timeframes. link

MNT GOAT: STATUS OF THE RV: Why a Maliki Return Could Delay Everything — and Why He’s Likely to Be Blocked

Featured Snippet 

Could Nouri al-Maliki delay the RV?
Yes. A return of Nouri al-Maliki as prime minister would likely stall reforms, investor confidence, and monetary progress. However, strong opposition from Kurds, MPs, and voters makes his return increasingly unlikely.


Introduction: Buckle Up — Iraq Is Heading Into a Volatile Week

Oh boy… oh boy.

If you’ve been waiting for fireworks in Iraq, this week may deliver.

This is shaping up to be a pivotal political moment, not just for Iraq’s government formation — but for the future timing of the RV itself.

So buckle down, relax, and let’s walk through what’s really happening.


STATUS OF THE RV: Why Leadership Matters

Let’s be very clear:

If Nouri al-Maliki somehow regains power as prime minister, we could be in for a long, frustrating wait for the RV.

History matters.
Credibility matters.

Stability matters.

And Maliki’s previous two terms were anything but stabilizing.


The Media Illusion: Why Maliki Looks “Popular” Right Now

One reason we are seeing so many positive headlines about Maliki is simple:

👉 He owns or controls much of the Iraqi media landscape.

So naturally:

  • Favorable coverage is amplified

  • Opposition voices are muted

  • Propaganda cycles repeat

But media dominance does not equal public support.


The Reality on the Ground: Iraqis Don’t Want Him

The average Iraqi citizen has already spoken — at the ballot box.

Maliki’s support among voters is weak.
Public trust is damaged.
Memories of corruption and dysfunction remain fresh.

And then there’s another major obstacle…


The Kurdish Factor: A Serious Roadblock

The Kurds will have a major say in any prime minister nomination.

And the Kurds are not forgetting:

  • Maliki’s disastrous prior terms

  • Political marginalization

  • Broken agreements

If Maliki’s name is even formally proposed, expect the Kurds to say:

“Not so fast.”


Is His Nomination Even Real? Or Just Propaganda?

There is growing evidence that Maliki’s so-called nomination may itself be media-driven propaganda pushed by outlets he influences.

Even if his name is floated:

  • It does not mean consensus

  • It does not mean approval

  • It does not mean ratification

Which brings us to parliament.


Parliament Reality Check: MPs Can Block Him

Even if Maliki were nominated, Members of Parliament must ratify the choice.

And the facts are clear:

  • A majority of MPs have already indicated opposition

  • Many have publicly stated they would deny him the position

This alone makes a third Maliki term extremely unlikely.


This Week Is Critical: The Presidential Announcement

This week, Iraq is expected to:

  1. Announce a candidate for president

  2. The new president then nominates a prime minister

  3. The PM-designate must form a cabinet (new government)

Every step is vulnerable to political pressure — especially now.


The Coordination Framework Push — and the Catch

Reports claim the Coordination Framework intends to nominate Maliki and push the announcement this week.

But there’s a catch.

👉 Kurdistan.

And Kurdistan is not playing along quietly.


Key Article #1: Zebari Signals “Surprises Ahead”

In an article titled:

“ZEBARI ON MALIKI’S NOMINATION AND THE PRESIDENTIAL ELECTION DATE: THE COMING DAYS ARE FULL OF SURPRISES”

Hoshyar Zebari of the Kurdistan Democratic Party stated:

Nominating Maliki and setting election dates does not mean the three presidencies or government formation is settled.

He emphasized:

  • The process is not finalized

  • Political twists remain

  • The coming days are “full of surprises”

⚠️ Pay attention to that language. It matters.


Key Article #2: Sudani’s Chances Improve Again

Another critical report titled:

“SUDANI’S CHANCES ARE IMPROVING AGAIN… NEW INFORMATION REVEALED BY MP AL-LUWAIZI”

MP Abdul Rahman Al-Luwaizi stated clearly:

Claims of handing the premiership to Maliki are “untrue in word and deed.”

He stressed that:

  • No official concession exists

  • Political reality points elsewhere

  • The nomination path is shifting

So what should we believe?

👉 Stick to facts, not headlines.


The Bigger Question: Why Consider Maliki at All?

This is the question many are asking:

Why would Iraq even consider returning to a figure associated with failure?

For many observers, it defies logic.
It defies reform goals.
It defies common sense.

It would be like repeating a mistake everyone already paid for.


What This Means for the RV

Let’s be honest:

  • Maliki = delay

  • Reform leadership = progress

  • Stability = confidence

  • Confidence = RV conditions

The growing resistance from Kurds, MPs, and political blocs strongly suggests maximum pressure is being applied to block Maliki.

And that is good news for reform — and for the RV timeline.


Q&A: Key Questions Answered

Would Maliki’s return delay the RV?

Very likely, due to credibility issues, reform resistance, and international concerns.

Is Maliki officially confirmed as nominee?

No. Reports remain disputed and may be politically motivated.

Can the Kurds stop him?

Yes. Kurdish opposition is a major obstacle.

Do MPs support Maliki?

Most indications suggest a parliamentary majority would reject him.

Is there still hope for reform leadership?

Yes. Alternative candidates, including Sudani, remain viable.


Final Thoughts

This is not a done deal.
This is not settled.
And this is far from over.

The political pressure is building.
The contradictions are surfacing.
And the so-called inevitability of Maliki is unraveling.

Fireworks may indeed be coming — but not in the way his supporters expect.


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#RVUpdate #IraqiDinar #GovernmentFormation
#Kurdistan #IraqElections #EconomicReform
#GlobalFinance #MiddleEastPolitics

STATUS OF THE RV

This peanut head guy Nori al-Maliki is desperate for power. If he should get into power again as the prime minister we are in for a long wait for the RV. Note in today’s Newsletter how he can get blocked and probably will. He owns almost all the news media stations in Iraq and so go figure why we are seeing such favorable headlines about him. But the average citizens don’t want him and showed it at the ballot box, then there are the Kurds who will have a large say in his nomination, if it is even true that he was nominated. This is itself may be more propaganda from his own news stations. Then there are the parliament members (MPs) who would have to ratify the selection and the majority already said they would deny him the position. 

Oh boy, oh boy have I got news for you today! Buckle down, relax and let’s get to it. The proverbial ‘fireworks’ are about to begin in Iraq.

This week will be a pivotal week in Iraq. They are supposed to announce their candidate for president. As we know the new president then announces the nominee for prime minister that will then be tasks to form his cabinet (the news government).

We had news from Iraq that the Coordinate Framework intends to nominate Nori al-Maliki for prime minister. They want to push the announcement also to this week. However, there is going to be a catch from Kurdistan and I don’t think the Kurds are going to be so easy in letting Maliki have a third term based on his disastrous prior two terms. So, basically the Kurds are now saying not so fast…..

😊Oh there is still hope this Maliki stuff is not yet a done deal in two important articles. In the first article titled “ZEBARI ON MALIKI’S NOMINATION AND THE PRESIDENTIAL ELECTION DATE: THE COMING DAYS ARE FULL OF SURPRISES” from Sunday’s news in this article we find that Hoshyar Zebari, a leader in the Kurdistan Democratic Party, said that nominating Nouri al-Maliki as a candidate for prime minister and setting a date for the session to elect the president of the republic “does not mean that the determination of the three presidencies and the formation of the government has been decided,” noting that the coming days are “full of surprises and twists.”

This last set of sentences above are very important. Pay attention!

😊Then later yet another article follows titled “SUDANI’S CHANCES ARE IMPROVING AGAIN… NEW INFORMATION REVEALED BY MP AL-LUWAIZI”. In this bit of news we learn that MP Abdul Rahman Al-Luwaizi, from the Reconstruction and Development bloc, said that what is being circulated regarding an official concession or political marketing to hand over the premiership to the leader of the State of Law Coalition, Nouri Al-Maliki, is “untrue in word and deed,” stressing that the political reality indicates a different course in managing the nomination file. So what should we believe? We must stick to the facts about Maliki and keep asking what the hell are they thinking to even consider this idiot again to run the government. Heck more like “run-down” the government than run it.

I don’t know about you but when I read this these couple articles along with knowing how negative the Kurds are towards Maliki, this to me means they are going to exert maximum pressure to ensure Maliki is not the next prime minister. I have to keep going back to the thoughts of – what the hell are the Iraqi thinking of nominating Maliki in the first place? Have they really gone that far left. This is even more than just going to the far left, it's ‘stupid’ and defies all common sense. It is like Joe Biden having a second term as the US president. It simply does not make any sense.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

MNT GOAT: Iran’s Downfall and the Coming Reinstatement of the Iraqi Dina...

Iraqi Dinar Weakens Amid Washington’s Political Pressure; Gold Surpasses $5,100/oz

   Iraqi Dinar Weakens Amid Washington’s Political Pressure; Gold Surpasses $5,100/oz

The Iraqi dinar weakened to 151,500 per $100 amid U.S. political pressure, while global gold prices hit a historic record, surpassing $5,100 per ounce due to geopolitical risks.

The Iraqi dinar experienced a sharp decline in value against the U.S. dollar on Monday, fueled by a convergence of tightened electronic transfer regulations and escalating diplomatic pressure from Washington regarding the composition of Iraq’s next government.

The domestic currency volatility coincided with a historic surge in global commodities markets, where the price of gold surpassed $5,100 per ounce for the first time in recorded history, signaling a period of acute economic and geopolitical uncertainty.

Kaifi Mohammed, the spokesperson for the currency exchange market in the Kurdistan Region, stated on Monday, Jan. 26, 2026, that market stability has been directly undermined by a series of technical and political interventions.

According to Mohammed, the exchange rate for $100 reached 151,500 Iraqi dinars by midday, but he cautioned that the rate is unlikely to remain stable at its current level. Market projections suggest the currency could weaken further to 153,000 dinars per $100 in the coming hours as demand for foreign currency outstrips available supply.

Mohammed identified three primary catalysts for the dinar’s depreciation. He noted that procedures on the official currency transfer platform have been significantly tightened, creating a bottleneck that prevents merchants from obtaining the dollars necessary to conduct international trade.

This administrative friction is compounded by a hardening U.S. policy toward Baghdad. Washington has reportedly intensified its demands for the removal of militias from state decision-making centers, a move that has introduced a high degree of unpredictability into the local financial system.

Furthermore, Mohammed pointed to a broader shift in U.S. foreign policy under the Trump administration, which he characterized as increasingly transactional. He noted that Washington appears to be linking regional security and protection to direct financial payments, a stance that market participants view as a business-centric approach to geopolitics.

This perceived shift has led to increased anxiety among Iraqi merchants who, burdened by existing financial obligations and debts, have been forced to purchase dollars at prevailing market rates regardless of the cost, thereby driving the price higher.

The domestic currency strain is unfolding against the backdrop of an unprecedented rally in the global gold market. At the start of trading on the London Stock Exchange on Monday morning, the price of an ounce of gold breached the $5,000 threshold for the first time.

The metal’s ascent continued rapidly, rising by 2 percent to reach $5,093 before eventually settling above the $5,100 mark. Financial analysts noted that the speed of the increase is significant; gold first broke the $2,000 barrier in January 2024, and has more than doubled in value in the two years since.

Economic experts cited by market observers attribute the record-breaking gold prices to three main drivers: a sharp increase in geopolitical risks across multiple global regions, sustained and large-scale bullion purchases by central banks, and market expectations that the U.S. Federal Reserve will continue to lower interest rates.

The convergence of these factors has reinforced gold's status as a primary haven for investors seeking to hedge against currency devaluations and political instability.

The local and global economic fluctuations are deeply intertwined with the deteriorating diplomatic relationship between Baghdad and Washington.

Abbas Jibouri, head of the Baghdad-based Rafid Center for Political and Strategic Studies, warned on Sunday that Iraq has reached a "dangerous crossroads."

Jibouri noted that U.S. threats to restrict Iraq’s access to its own oil revenues—which are deposited in the Federal Reserve Bank of New York—represent a potent economic pressure tool that could trigger a systemic "salary shock" and broad financial sanctions.

Because oil revenues account for more than 90 percent of Iraq’s state income, any disruption to the flow of dollars from the United States would have immediate and devastating consequences for public sector salaries and infrastructure projects.

Jibouri argued that the United States is increasingly viewing Iraqi governance through a security lens, particularly concerning the participation of armed groups in the next cabinet. He warned that any steps toward "legalizing weapons outside the framework of the state" could prompt Washington to freeze assets or impose severe banking restrictions.

This assessment is supported by recent reports from the Associated Press, which indicated that the United States has begun a strategy that observers describe as "economic suffocation" or "dollar starvation."

According to the report, Washington is leveraging its recent access to Venezuelan oil to manage global energy markets. By reintroducing Venezuelan exports to the world stage, the U.S. administration believes it can mitigate price spikes even if Iraqi exports are disrupted by financial sanctions.

This suggests that the U.S. is now positioned to impose comprehensive sanctions on the Iraqi government itself rather than just targeting specific individuals or institutions.

The threat of economic isolation looms large as Iraqi political forces deliberate the formation of the next government. U.S. officials have explicitly warned that the inclusion of armed factions opposed by Washington in the next cabinet would likely trigger a suspension of dollar transactions.

Despite these repeated warnings, several groups and individuals the U.S. deems problematic have already secured, or are expected to secure, senior positions in the government.

Jibouri urged Iraqi political leaders to recognize that economic stability is now inseparable from political and security stability.

He argued that the only solution to the looming crisis is for Baghdad to adopt a governance model that consolidates the monopoly of force under state institutions and reassures international partners that the government will remain independent of external regional influences. 

Failure to achieve this balance, he warned, would place the heaviest burden on ordinary Iraqi citizens, who are already feeling the impact of the dinar’s fall and the rising cost of living.

As of late Monday, merchants in Erbil and Baghdad remained in a state of high alert, monitoring the currency exchanges for further signs of depreciation.

The historic high in gold prices serves as a global indicator of the same fears driving the local market: a world defined by intensifying power rivalries and a diminishing reliance on traditional rules of international cooperation. link


MNT GOAT Report: U.S. Pressure on Iraq Intensifies as Oil Dollar Control Collides With Iranian Influence

Featured Snippet 

Why is the U.S. pressuring Iraq right now?
As Iraq approaches a pivotal election phase, the United States is leveraging control over oil dollar flows to counter Iranian influence in Baghdad, warning of sanctions and potential dollar supply cutoffs if political alignments do not shift.


Introduction: Oil Dollars, Elections, and a Power Struggle

This is not just another political dispute.
This is about control.

Control of:

  • Oil revenues

  • Dollar liquidity

  • Political alignment

  • Regional influence

According to MNT GOAT, and reinforced by Financial Times reporting, Washington is escalating pressure on Baghdad as Iraqi elections approach — with Iran’s influence once again at the center of the storm.

Their words, not mine.


The Core Issue: U.S. Control of Oil Dollars

The United States maintains significant leverage over Iraq’s economy through control mechanisms tied to:

  • Dollar-clearing systems

  • Oil revenue settlements

  • Federal Reserve-linked accounts

  • International compliance frameworks

This leverage allows Washington to apply pressure without deploying troops or public ultimatums.

The message is simple:

Align — or lose access.


Washington’s Warning to Baghdad

According to Financial Times sources, Washington threatened to cut off dollar supplies to Iraq after Baghdad refused to replace Adnan Faihan as first deputy speaker of parliament.

Faihan is a former member of Asaib Ahl al-Haq, a group widely viewed by U.S. officials as aligned with Iranian interests.

This appointment triggered immediate backlash.


“Hostile Behavior and Defiance” — U.S. Embassy Reaction

The U.S. Embassy in Baghdad reportedly reacted with fury, labeling the move:

  • “Hostile behavior”

  • “An act of defiance”

The demand was clear:

Replace Adnan Faihan — or face sanctions.

This was not framed as diplomacy.
It was framed as enforcement.


Why This Week Matters: Iraqi Elections at a Critical Point

This week is considered pivotal for Iraqi elections.

Political alignments formed now will determine:

  • Control of parliament

  • The prime minister nomination process

  • Iraq’s geopolitical trajectory

Tensions have escalated sharply following Faihan’s election last month.

This is not coincidence.
This is timing.


The Maliki Question: Political Marketing or Reality?

Amid the chaos, rumors began circulating that an official concession had been made to hand over the premiership to Nouri al-Maliki, leader of the State of Law Coalition.

However, the Reconstruction and Development bloc strongly denied these claims.

Their statement was unambiguous:

“What is being circulated regarding an official concession or political marketing to hand over the premiership… is untrue in word and deed.”

They emphasized that:

  • No such deal exists

  • Political reality points to a different path

  • The nomination process remains open and contested


Iranian Influence: The Line Washington Will Not Cross

For Washington, this is not about one individual.

It is about:

  • Preventing Iranian-aligned factions from consolidating power

  • Maintaining leverage over Iraq’s financial system

  • Preserving dollar dominance in oil settlements

The oil dollar remains a strategic weapon — and Iraq is a critical battlefield.


Why Dollar Access Matters More Than Sanctions

Cutting off dollar supplies would:

  • Freeze trade settlements

  • Destabilize banking operations

  • Cripple imports

  • Trigger currency volatility

This is why the threat carries weight.

It is not symbolic.
It is systemic.


Bigger Picture: Iraq at the Crossroads

Iraq stands between:

  • U.S. financial architecture

  • Iranian regional influence

  • Internal political fragmentation

Every election cycle tightens this pressure.

This is not about democracy alone.
This is about who controls the flow of money.


Q&A: Key Questions Answered

Why is the U.S. pressuring Iraq now?

Because elections determine long-term alignment, and Washington is moving to limit Iranian influence before power structures solidify.

Who is Adnan Faihan?

A former member of Asaib Ahl al-Haq, elected as first deputy speaker of parliament, viewed by the U.S. as aligned with Iran.

Can the U.S. really cut off Iraq’s dollars?

Yes. The U.S. has leverage through dollar-clearing systems and oil revenue channels.

Is Nouri al-Maliki returning as prime minister?

According to the Reconstruction and Development bloc, claims of such a deal are false.

What happens if tensions escalate further?

Expect financial pressure first — sanctions, dollar restrictions, and liquidity controls — before any public escalation.


Final Analysis

This is a high-stakes chessboard.

Washington is not bluffing.
Baghdad is not unified.
Iran is not retreating.

Oil dollars remain the lever.
Elections are the trigger.

And this week could define Iraq’s direction for years to come.


Stay Connected & Informed

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 Hashtags

#MNTGOAT #IraqNews #OilDollars #USPressure #IraqElections
#MiddleEastPolitics #IranInfluence #DollarControl #Geopolitics
#Baghdad #Sanctions #GlobalFinance #EnergyPolitics

MNT GOAT

"US, IN CONTROL OF OIL DOLLARS, HEAPS PRESSURE ON IRAQ OVER IRANIAN INFLUENCE." FINANCIAL TIMES: WASHINGTON THREA ENED TO CUT OFF DOLLAR SUPPLIES TO IR BAGHDAD REFUSED TO REPLACE ADM FAIHAN (AND RID OF IRAN?

FACTIONS)

(This is a pivotal week for Iraqi elections)

"tensions have escalateá

Washington following the election of Adnan Faihan, a former member of Asaib Ahl al-Haq, firstdeputy speaker of parliament last month".

"The US embassy was furious and said this was hostile behavior and an act of defiance, and they demanded his replacement". (or else sanctions would be imposed) "the Reconstruction and Development bloc, said that what is being circulated regarding an official concession or political marketing to hand over the premiership to the leader of the State of Law Coalition, Nouri Al-Maliki, is "untrue in word and deed," stressing that the political reality indicates a different course in managing the nomination file". Lets' explore all these topics today in the Newsletter.

Their words not mine.....

MARKZ:🔔 Historic Bond Confirmations, Banking NDA Signals & Iraq Momentum...

An economist reveals four reasons behind the worsening dollar crisis in the markets.

  An economist reveals four reasons behind the worsening dollar crisis in the markets.

 Economic expert Nabil Al-Marsoumi revealed on Tuesday the reasons for the worsening dollar crisis in the parallel market, in light of the continued pressures related to imports and the shifts in trade routes after the implementation of the new import mechanism (ASCODA) and the activation of the customs tariff law.

Al-Marsoumi explained in a statement followed by the “Iraq Observer” agency that “the application of the ASYCUDA mechanism and the customs tariff has pushed a large part of imports to shift geographically towards the ports of the Kurdistan Region, which do not apply this mechanism.”

He added that “this shift has put significant pressure on the parallel dollar to finance trade with Türkiye, noting that about 2,000 containers of goods enter through the Ibrahim Al-Khalil crossing alone.”

He explained that “this pressure contributed to the rise of the dollar in the parallel market and its exceeding the 1,500 dinar mark per dollar, in conjunction with additional pressure resulting from trade with Iran, which amounts to about one billion dollars per month and is also financed from the parallel market.”

Al-Marsoumi believes that “the dollar will continue to rise until a balance is achieved between the cost of importing through Basra ports, which are financed at the official dollar rate, and the cost of bringing goods in through Kurdistan ports, which rely on the parallel dollar rate.”  link

🌍 Breaking: A Global Shift Is Taking Shape

 🌍  Breaking: A Global Shift Is Taking Shape A powerful convergence of  geopolitical tension, financial transformation, and strategic reali...