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CHANNEL8
During a Washington meeting with the World Bank Group President, al-Zaidi stated that the government is focusing on banking sector reforms, program-based budgeting, and increasing oil production to establish a diversified, sustainable economy.
The latest developments from Iraq continue to strengthen the country's economic foundation. During a meeting in Washington with the World Bank President, Iraqi officials reaffirmed their commitment to banking sector reforms, program-based budgeting, and increased oil production.
Why does this matter? ๐ค
✅ A modern banking system supports international financial integration.
✅ Better fiscal management improves transparency and investor confidence.
✅ Higher oil revenues can strengthen Iraq's financial position.
✅ A diversified economy is a key step toward long-term currency stability.
๐ While this does NOT confirm a revaluation (RV) of the Iraqi Dinar, many investors see these reforms as positive fundamentals that could support the currency over time.
⚠️ Remember: Any change in the official exchange rate would ultimately be a decision of the Central Bank of Iraq.
Patience and fundamentals continue to be the name of the game. ๐๐ต
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๐จ๐ฎ๐ถ Baghdad Perspective: Iraq's WTO Path Signals the IQD Is Nearing a New Phase ๐ฑ๐
๐ง Gmail
Thursday, July 16, 2026
๐ฎ๐ถ Sheyla Dakkar Says from Baghdad, Iraq
Dear Hernรกn,
It's been a long time since we last spoke. The latest information we have here in Baghdad is that our Prime Minister's visit to the United States—where key agreements were signed and support was requested for Iraq's accession to the World Trade Organization (WTO)—indicates that our currency must be approaching a revaluation.
๐ฆ We cannot begin major international business transactions or join the WTO with the Iraqi dinar at its current value. At today's exchange rate, the IQD is not suitable for competing in the international marketplace.
๐ Therefore, we believe the Iraqi Dinar (IQD) is on the verge of increasing in value (revaluing).
Kind regards,
Sheyla Dakkar
๐ Baghdad, Iraq
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-------
SPANISH
Gmail
Jueves 16 Julio 2026
Sheyla Dakkar: Dice Iraq Bagdad
Querido Hernรกn, mucho tiempo sin charlar lo รบltimo que tenemos a vos taxativa acรก en IRAQ Bagdad es que con la visita de nuestro primer ministro a los EEUU y firmar acuerdos y solicitar ayuda a EEUU ingresar a la WTO significa que nuestra moneda estรก y tiene que estar a punto de revaluar no podemos iniciar gigantes negocios internacionales y ingresar a la WTO con el valor que en estos momentos tenemos no sirve el DINAR IRAQUร internacionalmente. Por lo tanto nuestra moneda IQD estรก a punto de ir al alza (Revaluar).
Saludos cordiales
Sheyla Dakkar
Bagdad
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๐จ๐ฎ๐ถ Iraq's Political & Economic Transformation Continues: The Reform Journey Is Well Underway
Today, Iraq continues to move steadily toward becoming a stronger, more stable, and globally integrated economy. While the economic reforms are not yet fully completed, the country has made significant progress and is clearly much further along than it was just a few years ago.
๐️ Political Highlights
✅ Prime Minister Mohammed Shia' Al-Sudani continues pursuing a balanced foreign policy, strengthening strategic partnerships with the United States while maintaining Iraq's regional relationships.
✅ President Nizar Amidi reaffirmed that Iraq must remain outside regional conflicts, protecting its sovereignty while promoting national stability, democracy, freedom of expression, and long-term development.
✅ The government remains focused on:
• Strengthening internal security.
• Reinforcing state institutions.
• Creating a safe environment for investment.
• Advancing economic growth and prosperity.
๐ฐ Economic Highlights
๐ข️ Iraq continues attracting billions of dollars in foreign investment into its energy sector.
Major international companies such as BP, ConocoPhillips, and Chevron are expanding long-term projects that reinforce global confidence in Iraq's future.
⚡ Iraq is also working to diversify its energy infrastructure by developing additional export routes and strengthening long-term energy security.
๐ The government's economic strategy remains focused on:
• Expanding private-sector investment.
• Modernizing infrastructure.
• Increasing non-oil revenues.
• Diversifying the economy.
• Positioning Iraq as a major regional economic hub.
๐ฆ Banking & Financial Reform
The modernization of Iraq's financial system continues through:
✔️ Banking sector reform.
✔️ Expansion of electronic payments.
✔️ Stronger AML/CFT compliance.
✔️ Greater financial transparency.
✔️ Reduction of the cash-based informal economy.
✔️ Integration with international banking standards.
๐ Where Does Iraq Stand Today?
One important point is that Iraq's economic reforms have not yet been fully implemented.
However, the country is well into the implementation process, with many of the foundational reforms already in place while others continue to be rolled out.
Significant progress has already been achieved in:
✅ Banking modernization.
✅ Digital payment systems.
✅ Customs and tax digitalization.
✅ Financial compliance.
✅ Foreign investment.
✅ International cooperation.
✅ Public financial management.
Still in progress are:
๐ Reducing the parallel dollar market.
๐ Bringing more of the informal economy into the banking system.
๐ Expanding the private sector.
๐ Increasing non-oil revenues.
๐ Completing financial modernization.
๐ Continuing government digitization and institutional reforms.
These remaining reforms represent the next phase of Iraq's long-term economic transformation.
๐ฏ Bottom Line
Iraq is not at the beginning of its reform journey anymore—it has already completed many foundational steps. At the same time, it has not yet reached the finish line. The country continues implementing broad economic, banking, fiscal, and institutional reforms aimed at building a diversified, transparent, investment-friendly economy integrated with international financial standards.
Every major reform completed strengthens Iraq's economic foundation and supports its long-term vision for sustainable growth and financial stability.
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CHANNEL8:
Iraq continues modernizing its financial and trade systems through the implementation of ASYCUDAWorld, a digital platform designed to improve customs management, increase transparency, and strengthen government revenue collection.
✅ The system is already operating at several federal border crossings, helping digitize processes, reduce revenue losses, and improve international trade control.
⚠️ The remaining challenge is coordination with the Kurdistan Region (KRG), where Baghdad and Erbil are still discussing the mechanism for collecting and distributing border revenues.
๐ For those following the IQD, these reforms represent another step toward a more organized economy, stronger financial controls, and alignment with international standards.
While this is not a direct RV announcement, a transparent financial system and unified revenue management are important foundations for Iraq’s long-term economic strength. ๐ฎ๐ถ๐
Every reform adds another piece to Iraq’s economic transformation. ๐
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CHANNEL8 Iraqi economic expert Haider al-Sheikh told Channel8 that the exchange rate per $100 dropped by 4,000 to 5,000 Iraqi dinars, fall...