Iran expresses its displeasure at the closure of the Al-Shaib border crossing with Iraq without prior notification.

Iran’s Interior Ministry on Wednesday expressed its displeasure with the decision to close the Shib border crossing with Iraq, stressing that Tehran had not received prior notification of the decision.

Ministry spokesman Zeini Vand said during a press conference that the closure of the Al-Shaib border crossing by Iraq was done without prior notification to the Iranian side, noting that the matter is being followed up and studied.

He added that temporarily closing border crossings for a period ranging from one hour to several hours for security reasons is a common practice, and in such cases, it is not necessary to inform the other party in advance.

He added that according to the joint agreement between Iran and Iraq regarding the management of border crossings, if it is decided to close any border crossing for a period exceeding one day, the other party must be notified of this decision in advance.

Zaini Vand explained that the closure of the Al-Shaib border crossing was not preceded by any official notification to the Iranian side, stressing that the relevant authorities in Iran are continuing to follow up on the matter and study its circumstances.

On Tuesday evening, an informed source in the Maysan Council told Shafaq News Agency that orders had been issued by the federal government to close the Al-Shaib border crossing with Iran starting at 6:00 AM on Wednesday, until further notice

Shafaq.com

Al-Zaidi will visit Lebanon and Syria next week.

An informed government source reported on Wednesday that Prime Minister Ali al-Zaidi will pay an official visit to Lebanon and Syria next week.

The source told Shafaq News Agency that Al-Zaidi will head a government delegation to discuss a number of important and common issues.

He added that Lebanon would be the first stop on the visit, before al-Zaidi heads to Syria, from where he will return to the capital, Baghdad.

Al-Zaidi had visited the Saudi capital, Riyadh, last Wednesday, as part of an official visit within a Gulf tour that also includes Kuwait.

The tour came after a planned visit to Riyadh last July was cancelled due to rapidly evolving security developments in the region, including an American bombing that targeted Popular Mobilization Forces headquarters in Iraq, with Saudi participation, according to the original text.

Iraqi-Gulf relations have been marked by anticipation and caution since the launch of regional military operations in February 2016, amid repeated accusations from countries in the region that armed factions are exploiting Iraqi territory to launch drone attacks targeting regional economic interests.

Shafaq.com

Iraq’s foreign reserves rise to $81.5 billion in August

Data from the Central Bank of Iraq on Wednesday showed that foreign reserves rose to $81.538 billion, equivalent to 105.999 trillion dinars, at the end of August 2026, compared to $80.633 billion, or 104.823 trillion dinars, at the end of July. Dinarexchange rate

According to data seen by Shafaq News Agency, foreign reserves increased during August by about $905 million, equivalent to 1.176 trillion dinars.

However, reserves remained below their level at the end of 2025, when they reached $97.432 billion, equivalent to 126.661 trillion dinars, and thus recorded a decline during the first eight months of this year of about $15.894 billion, or equivalent to 20.662 trillion dinars.

Reserves stood at $101.082 billion at the end of January 2026, before declining to $100.341 billion in March, $97.809 billion in April, $93.673 billion in May, then to $86.175 billion in June, reaching $80.633 billion in July, before rising again in August.

Regarding the components of the reserves, the value of gold rose to 32.655 trillion dinars at the end of August, compared to 29.665 trillion dinars at the end of July, while investments declined to 72.926 trillion dinars, compared to 75.034 trillion dinars in the previous month.

Shafaq.com

A gap of 30 trillion dinars… The Ministry of Finance reveals Iraq’s revenues and expenditures up to August

Data from the Ministry of Finance regarding the implementation of the federal budget up to the end of August 2026 showed that Iraq’s total revenues amounted to about 45.355 trillion dinars, while oil revenues constituted about 77% of the state’s total resources.

According to data seen by Shafaq News Agency, oil revenues amounted to about 34.726 trillion dinars, compared to non-oil revenues of about 10.629 trillion dinars, equivalent to about 23% of total revenues.

In contrast, total expenditures amounted to approximately 75.787 trillion dinars, which means recording a gap (deficit) between revenues and expenditures of approximately 30.432 trillion dinars during the first eight months of this year.

Employee compensation topped the list of current expenditure items with a value of approximately 40.994 trillion dinars, followed by social welfare expenditures with approximately 18.443 trillion dinars, and then grants, subsidies, interest and other expenses with approximately 6.011 trillion dinars.

Expenditure on goods supplies amounted to approximately 2.454 trillion dinars, and on services supplies to approximately 156 billion dinars, while expenditure on asset maintenance amounted to approximately 48.5 billion dinars.

On the debt service side, the data showed that total spending on debt amounted to about 7.561 trillion dinars until the end of August, while capital expenditures amounted to about 30.1 billion dinars, according to the economic classification of expenditures.

Thus, the budget implementation data reveals the continued widening of the gap between state revenues and expenditures, coinciding with the continued dependence of public finances on oil revenues, which constituted about three-quarters of total resources.

Shafaq.com

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The Zaidi government is knocking on the doors of international dependency and ignoring sovereign alternatives.

The Al – Zaidi government is facing a barrage of political and economic criticism following leaked information about its formal request for a loan from the International Monetary Fund (IMF). Observers have described this move as “economic suicide,” the price of which will be paid directly by ordinary citizens.

While the government seeks quick solutions to address the upcoming budget deficit, financial experts believe that turning to international institutions is a misguided and ill-conceived choice, especially given the existence of substantial local and sovereign alternatives that could provide a genuine way out of the crisis without resorting to the IMF’s stringent conditions.

The real danger of this approach lies in the “ready-made prescriptions” imposed by the IMF, which invariably target the pockets of low-income citizens by lifting subsidies on basic goods, imposing progressive taxes, and reducing government employment—measures that are guaranteed to exacerbate poverty and unemployment rates in the country.

Economic circles confirmed to Al-Maalomah that resorting to external borrowing reflects a clear planning deficiency, while alternative and readily available rescue solutions exist. These include activating tax collection and customs duties, recovering looted funds, reducing unnecessary expenditures, and revitalizing the stalled investment sector, which could provide the upcoming budget with the necessary liquidity to prevent Iraq from falling into the trap of permanent economic dependency.

In this context, economic expert Saleh al-Khafaji outlined the potential negative effects of borrowing from the International Monetary Fund (IMF) on the Iraqi economy. He called on the government to be transparent with the public regarding the existence of any borrowing efforts, the amount of funds required, and the economic repercussions.
Al-Khafaji explained to Al-Maalomah that “the IMF revealed the Iraqi government’s efforts to borrow, which contradicts what Prime Minister Ali al-Zubaidi announced a few days ago regarding his government’s intention not to borrow and burden the treasury with further debt.”

He pointed out that “borrowing from the International Monetary Fund (IMF) could have negative repercussions due to the interest rates, conditions, and binding decisions that could directly affect government spending,” noting that such loans could increase the size of external debt and exacerbate the financial burdens on the general budget.
Al-Khafaji stressed the need for clear government transparency with the public regarding the existence of any efforts to borrow from the IMF, the amount of funds that might be borrowed, and an explanation of its impact on the Iraqi economy.

The economist questioned the wisdom of raising the dollar exchange rate if there were indeed efforts to borrow from the IMF, warning that the accumulation of external debt could impose additional burdens on the Iraqi budget and economy.
For his part, economist Ziad al-Hashemi criticized the Iraqi government’s move towards borrowing from the IMF, considering that this step raises questions about the justifications for devaluing the Iraqi dinar, which was presented as a measure to avoid resorting to more painful financial options, including external borrowing.
Al-Hashemi said in a post on his Facebook page that the negotiations with the International Monetary Fund to obtain financial support reveal, in his opinion, a contradiction in the government’s position, especially after justifying the change in the exchange rate by saying that it aims to avoid external borrowing.

He added that resorting to IMF loans might be linked to conditions related to managing public spending and maximizing revenues, as well as the possibility of reviewing government subsidy policies, particularly in the fuel and electricity sectors and other high-spending sectors.

Al-Hashemi pointed out that “the government should have clarified to citizens the nature of its approach to external borrowing and the reasons that prompted it to take this step, despite the change in the dinar’s exchange rate just a few weeks ago.”

He warned that “borrowing could impose additional burdens on Iraqi fiscal policy,” noting that the recommendations associated with IMF programs could, if a financing agreement is reached, become obligations tied to the loan’s conditions and implementation mechanisms.

Almaalomah.me

Al-Zaydi directs an increase in oil production and assigns his deputy to follow up on the matter.

On Sunday, Iraqi Prime Minister Ali al-Zaidi directed the Ministry of Oil to take practical steps to increase oil production and maximize revenues, in light of the damage inflicted on Iraq by the events taking place in the region.

The directives came during a visit by Al-Zaidi to the Ministry of Oil headquarters in Baghdad, his second since the formation of the government five months ago. During the visit, he chaired a meeting of the ministry’s senior staff, in the presence of the Deputy Prime Minister for Energy Affairs, the Ministers of Oil and Electricity, the Head of the Board of Advisors, and a number of energy advisors, according to a statement issued by his office and received by Shafaq News Agency.

During the meeting, Al-Zaydi stressed the need to continue working to increase oil production capacity and enhance the revenues generated from it, emphasizing that the government will take a set of important measures and steps to achieve these goals, especially in light of the repercussions that Iraq is facing as a result of regional developments.

He also called for overcoming past mistakes and addressing shortcomings that have hindered the development of the oil sector, noting his directives to the Integrity Commission to follow up on corruption cases that have caused inaction and wasted many opportunities to develop this vital sector.

As part of monitoring the implementation of the plans, Al-Zaydi announced the assignment of the Deputy Prime Minister for Energy Affairs to follow up on the work of the Ministry of Oil and the production and export files, stressing the importance of raising the level of performance and achieving the planned goals.

Shafaq.com

The dollar exchange rate has reached 169,000 dinars in Iraqi markets.

On Monday morning, the exchange rate of the US dollar recorded a new high in the markets of the Iraqi capital, Baghdad, and in Erbil, the capital of the Kurdistan Region.

A correspondent for Shafaq News Agency said that the price of the dollar rose in the Al-Kifah and Al-Harithiya exchanges in Baghdad to 168,600 dinars for 100 dollars, compared to yesterday, Sunday, when it reached 168,000 dinars for 100 dollars.

Our correspondent noted that the selling prices in currency exchange shops in the local markets of Baghdad rose to record 169,000 dinars for 100 dollars, while the buying price reached 168,000 dinars.

In Erbil, the dollar prices also rose, with the selling price recording 168,400 dinars for 100 dollars, while the buying price reached 168,300 dinars for 100 dollars.

Shafaq.com

From Baghdad, Washington warns of Iranian attacks and the closure of airspace.

The US Embassy in Iraq on Sunday urged its citizens in the Middle East to exercise caution given the complex security situation, warning of possible flight cancellations, airspace closures, and travel disruptions.

The embassy stated in a ” security alert ” issued on October 18, 2026, that Americans should monitor the operations of airports and airlines, check the status of their flights directly through airlines or official airport websites, and develop alternative plans in case of any emergency.

She warned that Iran and its proxies could target other U.S. interests abroad or sites associated with the United States and its citizens, including U.S. companies and institutions.

According to the US embassy, ​​the Iranian-backed Houthis have carried out attacks against Saudi Arabia, including on civilian airports and vital infrastructure, resulting in civilian casualties and major travel disruptions, suggesting “the possibility of hostilities rapidly expanding beyond the immediate region.”

In conclusion, the embassy urged American travelers to monitor flight status via the websites of Baghdad, Erbil, Basra and Sulaymaniyah airports, in anticipation of any changes in flight schedules or air traffic.

Shafaq.com

The presidential decree appointing Al-Zidi’s deputies and 11 ministers has been issued.

The President of the Republic issued a presidential decree appointing the Deputy Prime Ministers and 11 Ministers, after Parliament voted on them.

The Republican Decree, which was received by Shafaq News Agency and bears the date of October 18, states: Based on the provisions of Article 73, Paragraph Seven, and Article 76, Paragraph Four of the Constitution, and based on the approval of the House of Representatives by an absolute majority to grant confidence to the Deputy Prime Ministers and Ministers and their taking the constitutional oath, we have decreed their appointment.

It is noted that the House of Representatives voted last Thursday on three deputies to the Prime Minister, Ali al-Zidi, and on 11 candidates for vacant ministries, including a Minister of State .

The Deputy Prime Ministers are: Mohsen Ali Akbar Al-Mandalawi, Laith Hadi Sayed Al-Khazali, and Mohammed Ali Tamim.

As for the ministers, Yasser Abdul Sakheel Mohammed Al-Maliki was voted on as Minister of the Interior, Naif Mukeef Shanan Al-Shammari as Minister of Defense, Qutaiba Ghazi Majeed Hamid as Minister of Planning, Haider Bahaa Saheb Al-Husseini as Minister of Higher Education and Scientific Research, and Yassin Mohammed Hamad Al-Ithawi as Minister of Culture .

The following were also voted on: Ribaz Mohammed Abdullah Hamlan as Minister of Construction, Housing and Municipalities, Mohammed Raad Jawad Al-Mousawi as Minister of Labor and Social Affairs, Safaa Mahdi Saleh Al-Kinani as Minister of Youth and Sports, Mohammed Saheb Al-Daraji as Minister of Digital Economy, Governance, Science and Technology, Ali Abdul Hadi Mohammed Al-Dakhili as Minister of Tourism, and Mohammed Samaan Kanaan Youssef as Minister of State

Shafaq.com