TheDinarExchange.com

$995 Dinar Sale!!

Dinar on Sale – $995 per million (shipped). Free FedEx shipping included (CONUS only). If you would like to place an order, please call 615-509-6256 (or text) or e-mail us at DinarUpdates@icloud.com

Iraq is making progress towards joining the World Trade Organization.

The International Trade Centre, a United Nations agency, confirmed that Iraq has made clear progress in its steps towards joining the World Trade Organization.

Eric Bochot, the director of the International Trade Centre’s programs in Iraq, which is affiliated with the United Nations, told Al-Sabah: “The process of Iraq joining the World Trade Organization is still ongoing, and has witnessed progress in several important stages at the national and international levels.”

Bushot added that this progress includes the establishment and reactivation of the Iraq Working Group at the World Trade Organization, the revival of national coordination mechanisms, technical reviews of trade-related legislation, communication with member states of the organization, as well as preparatory work related to market access and regulatory harmonization.

The UN official stressed that what has been accomplished so far reflects a continued commitment to aligning the Iraqi trade system with multilateral rules, although additional steps are still required.

For his part, economist Nabil Al-Tamimi said that the government and the Ministry of Trade are working hard to join the World Trade Organization.

Al-Tamimi added to Al-Sabah that “joining requires several procedures, including legislative and legal amendments, in order for Iraq to meet the conditions for joining this organization, noting that the legislative process in Iraq may suffer from slowness for several reasons.”

Al-Tamimi explained that these steps were accompanied by procedural obligations that are part of the conditions for joining the organization.

Alsabaah.iq

Ports Director: Operations at the Grand Faw Port will begin this year, 2026.

The Director General of Iraqi Ports, Farhan Al-Fartousi, announced today, Monday, that Iraqi ports ended 2025 with advanced operational and financial indicators, stressing the company’s readiness to enter 2026 with economic and commercial change plans, while indicating the start of operations during 2026 for the Grand Faw Port.
Al-Fartousi said during a press conference that “the total weight capacity of the ports reached about (43.32) million tons in 2025, compared to (39.20) million tons in 2024, while the operational capacity of oil derivatives increased to (15.593) million tons compared to (13.741) million tons in the previous year.”

He added that “the total container handling during 2025 reached about (2.094) million containers, compared to about (1.080) million containers in 2024, which reflects growth in commercial activity and import movement.”

He pointed out that “the company’s revenues in 2025 amounted to about 1.25 trillion Iraqi dinars, compared to 1.063 trillion dinars in 2024,” noting that “the results reflect an improvement in operational efficiency and financial stability.”

In the energy sector, he indicated that “the company has made significant progress in preparing the navigation channel and the docks for the floating gas station (FSRU),” explaining that “the company undertook the preparation of the designs and financed the project with approximately (133) million dollars, in coordination with the relevant government agencies.”

Regarding the Grand Faw Port, Al-Fartousi confirmed “the start of initial operational steps that included receiving ships and opening shipping lines, with continued work on connection and infrastructure projects, including the connecting road, in preparation for starting operations during 2026.”

He concluded by saying that “the company seeks to enhance regional and international connectivity and integrate Iraqi ports into global supply chains, with 2026 being a turning point in commercial and operational performance.”

Alforatnews.iq

Al-Badri and Al-Shatri are the leading candidates… The coordinating body will decide in today’s meeting.

On Monday, Fahd al-Jubouri, a leader in the Hikma Movement, revealed the priorities of the meeting of the leaders of the coordinating framework that includes the Shiite forces, which is scheduled to be held this evening, to decide on the selection of the new prime minister and the issue of electoral entitlements.

Al-Jubouri told Shafaq News Agency that “the priorities of today’s coordination framework meeting will focus on the mechanism for selecting the prime minister and choosing a name from among the nine names put forward for discussion. There are internal understandings to reach three people, and a name may be put forward from outside the nine nominated names, but the framework meeting will be dedicated to choosing a name from among these names.”

He added that “the meeting will also focus on the importance of urging the Kurdish political establishment to choose a single representative for the position of President of the Republic, in addition to discussing the electoral entitlements related to ministries and other positions, as there is a committee formed by the framework in this regard, headed by Nouri al-Maliki, which will discuss the results of its work.”

Al-Jubouri pointed out that “the names currently being considered for the premiership are Basim al-Badri and Hamid al-Shatri, and these two figures have a strong chance of assuming the premiership during the next phase, with the possibility of adding a third name from outside the nine names in the event that they are not agreed upon by the forces of the Coordination Framework.”

The leader of the Wisdom Movement concluded his remarks by saying that “there is no political deadlock within the coordination framework regarding the nomination of the prime minister, contrary to what some are promoting. Dialogues are ongoing and negotiations are underway, and there are bilateral and trilateral meetings between the parties of the coordination framework. Therefore, there is no political deadlock, and within a few days the new prime minister agreed upon by the forces of the coordination framework will be announced.”

For his part, MP Amer Al-Fayez, a leader in the Coordination Framework, confirmed that the framework will hold a meeting this evening to discuss the mechanism for selecting the Prime Minister, indicating that today’s meeting will not decide on the name of the candidate for this position.

The winner told Shafaq News Agency that there are nine candidates being considered for the position of Prime Minister, namely Mohammed Shia al-Sudani, Nouri al-Maliki, Haider al-Abadi, Qasim al-Araji, Basim al-Badawi, Hamid al-Shatri, Ali al-Shukri, in addition to three other candidates.

He added that the decision on the coordinating framework’s candidate for the position of Prime Minister may be delayed, but this matter will be decided as soon as possible.

It is worth noting that a source revealed to Shafaq News Agency yesterday that the leaders and chiefs of the Shiite House will hold their periodic meeting this evening, Monday, which will be dedicated to discussing the paths or mechanisms for deciding the identity of the Prime Minister.

The Coordination Framework forces affirm that there is no political deadlock in the selection of the next Prime Minister, stressing their commitment to the constitutional timelines, and considering that the resolution of this position will come in its final stage after the election of the President of the Republic.

Members of the framework told Shafaq News Agency that there is progress and convergence within the framework, with political dialogues continuing, pending the completion of the election of the President of the Republic, after which the framework’s candidate will be announced to form the new government in accordance with constitutional procedures.

Shafaq.com

Liquidity crisis in Mosul banks delays the release of payments to outlet owners

On Monday, Abdullah Al-Jiro, the head of the money changers’ union in Nineveh Governorate, revealed a cash liquidity crisis affecting banks in Mosul, which has delayed payments to money changers, prompting some of them to spend the night in front of banks hoping to receive their money.

Al-Jiro told Shafaq News Agency that “banks operating in Mosul are experiencing a clear shortage of cash liquidity, which has directly affected the non-disbursement of dues to the owners of outlets,” explaining that “this crisis is due to the financial deficit that the government announced earlier.”

He added that “a number of outlet owners now spend their nights in front of banks waiting for them to open in the morning, while others are forced to go to other governorates to collect their dues, which burdens them and disrupts their work.”

According to Al-Jiro, “the continuation of this crisis will negatively affect the local economic situation and lead to a loss of confidence between citizens on the one hand, and Key Card Company and government institutions on the other,” calling on the concerned authorities to “find urgent solutions to address the liquidity shortage and restore confidence in the financial system.”

Since the beginning of last month, Iraqi banks have entered a sensitive phase with a decline in available liquidity, amid rising financial obligations and weak cash flow, while parliamentary and economic bodies warn of a widening gap between government spending and oil revenues, which puts the country in a difficult financial situation that directly affects the lives of citizens.

These warnings come at a time when observers fear an alarming increase in the financial challenges facing the Iraqi economy, in light of the announcement that internal debt has risen to about 90 trillion Iraqi dinars (about $69 billion), an unprecedented level in the country.

Shafaq.com

First government comment on the rise in the dollar exchange rate in Iraq

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed Sunday, January 4, 2026, that the fluctuation in the exchange rate is “temporary” and does not reflect a structural imbalance, especially since it has practically become detached from the level of income and consumption, and its effect has been transferred to the asset sector, which is not directly related to the stability of daily living.

Saleh said in a statement: “The limited fluctuations witnessed in the parallel exchange market are merely temporary and ineffective reactions that came in response to the launch of the latest fiscal discipline package, which included decisions aimed at re-examining the paths of public spending in general and enhancing the efficiency of public revenues in particular, especially with regard to expanding and controlling tax and customs bases.”

He added, “Such movements are normal market behavior when receiving new signals from fiscal policy, as supply and demand forces tend to test these signals and adapt to them in stages, before returning to more stable paths that are in line with the new economic and financial fundamentals.”

Saleh continued, “Thus, the current fluctuations in the parallel market do not reflect a structural imbalance, but rather represent a temporary adaptation phase to regulatory tools that are essentially aimed at enhancing financial and monetary stability in the medium term. Likewise, the fluctuations observed in the parallel exchange market are limited in impact and do not affect the stability of the general price range in our country, which has maintained a low inflation rate of around 2.5% annually.”

The government advisor pointed out that “this is due to the convergence of three effective economic policies. The first is the monetary policy, which adopts a fixed official exchange rate for the Iraqi dinar against the dollar, at a level of 1,320 dinars per dollar, which provides a stable nominal anchor for prices. The second is the fiscal policy, which exercises support on a wide scale, as support constitutes approximately 13% of the gross domestic product, which mitigates the transmission of price shocks to living standards, especially in basic goods and services.”

He continued, “The third is the trade policy in price defense; in addition to the subsidized food basket, the modern market system (hypermarkets) has emerged as the ‘qualitative countermeasure’ to the effects of the exchange market, as it works to absorb what can be called the ‘colored noise’ resulting from confused information in the parallel exchange market, and transform it into white noise with stable content in terms of prices and consumption.”

Saleh noted that “the parallel exchange market no longer has any significant impact on living standards, after it became practically detached from income and consumption levels, and its impact shifted to the asset sector, which is not directly related to the stability of daily living.”

Burathanews.com

Ministry of Oil: Completion of drilling and rehabilitation of 237 oil wells during 2025

The Iraqi Drilling Company announced on Monday the completion of drilling and rehabilitation of 237 oil wells during 2025. The company’s Director General, Hassan Mohammed Hassan, stated in a statement received by the Iraqi News Agency (INA): “The technical and engineering staff of the Iraqi Drilling Company completed the drilling of 62 oil wells and the rehabilitation of 175 oil wells during 2025.”

He added that “the total number of drilling and reclamation works reached 237 wells, distributed among the various Iraqi oil fields from north to south, within the approved technical programs and in accordance with quality and safety standards.”

He also pointed out that “these achievements are the result of the continuous efforts made by the company’s staff, and their high commitment to timelines and technical specifications,” stressing “the company’s continued commitment to carrying out its work with high efficiency and in coordination with national and international oil companies.”

He affirmed that “the Iraqi Drilling Company is continuing to enhance its operational capabilities and develop its technical performance, which contributes to supporting plans to increase and sustain production, and strengthens its pivotal role in supporting the national oil sector and achieving the strategic goals of the Ministry of Oil.”

Burathanews.com

Farhad Atroushi wins the position of Second Deputy Speaker of the Iraqi Parliament

On Tuesday evening, members of the Iraqi Parliament elected Farhad Amin Atrushi, a member of the Kurdistan Democratic Party, as the second deputy speaker of the parliament, after a third round of voting was held due to the failure to achieve a parliamentary majority in the previous two rounds, in which Shakhwan Abdullah, a member of the Kurdistan Democratic Party, competed with Ribwar Karim, a member of the Al-Mawqif bloc, on Monday evening.

A Shafaq News Agency correspondent reported that MP Farhad Amin Atroushi received 178 votes, while his rival, MP Ribwar Karim, received 104 votes, in the third round of voting.

An informed source told Shafaq News Agency that the Kurdistan Democratic Party (KDP) moved on Tuesday to replace its previous candidate, MP Shakhwan Abdullah, with MP Farhad Atrushi to fill the position.

He pointed out that the Kurdistan Democratic Party stipulated the withdrawal of Shakhwan Abdullah’s nomination in exchange for the withdrawal of the candidate of the Al-Mawqif Current, Ribwar Karim, indicating that the heads of the political blocs informed the Al-Mawqif Current of this, but the Current refused and insisted on nominating Ribwar Karim for the position of second deputy speaker of parliament.

He noted that there is a binding decision from the Federal Court for all authorities stipulating that it is not permissible to replace candidates for the position of Speaker of the House of Representatives and his deputies, but rather the elections are held between the candidates who registered themselves for the first time, except in the case of the withdrawal of all candidates in order to reopen the nomination process again.

The new Iraqi parliament failed on Monday to decide on the position of its second deputy speaker during the opening session of the sixth term, despite its success in electing the speaker, Hebat al-Halbousi, a leader in the “Progress” alliance, and his first deputy, Adnan Faihan, a leader in the “Sadiqun” movement, which led to referring the election to a third round.

The Presidency of the House of Representatives consists of a Speaker and two Deputy Speakers, who manage the legislative sessions and organize the work of the Council. According to the political traditions followed after 2003, the position of Speaker of Parliament is allocated to the Sunni component, the First Deputy Speaker to the Shiite component, and the Second Deputy Speaker to the Kurdish component.

According to constitutional procedures, the election of the Speaker of Parliament and his two deputies is supposed to be followed by the election of the President of the Republic within 30 days of the first session, with the President subsequently tasking the largest bloc with forming the government, a process that may extend for months due to the complexities of political agreements.

Shafaq.com

Intensifying efforts to raise Iraq’s credit rating

The government has intensified its efforts to achieve the highest international credit rating, given the importance of this step in gaining the confidence of international investors, facilitating the attraction of foreign investments, reducing borrowing costs, and enhancing confidence in the national economy.

The process of raising the credit rating contributes to supporting structural reforms and enhancing the ability to obtain financing from international institutions. It is an important indicator of the state’s ability to meet its obligations, which encourages sustainable economic development.

A few days ago, Fitch Ratings confirmed in its latest report that it had maintained Iraq’s sovereign rating at “B-” with a stable outlook, reflecting international confidence in the Iraqi economy’s ability to maintain its financial and credit stability despite current global and regional challenges.

In this regard, economic expert Alaa Fahd believes that the country needs investment, especially foreign investment, at the present stage, to carry out infrastructure projects and major projects, stressing the need to create a suitable environment for investment, whether legal, legislative, economic, or financial, by providing financial and banking facilities.

Government efforts

In an interview with Al-Sabah, Fahd expressed his hope that investment contracts would be free from corruption, as this would raise Iraq’s credit rating. He noted that the country is currently rated B- according to the latest report from the international credit rating agency Fitch, which confirmed that Iraq is a “stable environment.”

He explained that stability paves the way for a higher rating by creating a conducive financial environment, combating corruption, and establishing a suitable legislative framework to support investments. He emphasized that the steps taken by the government and the Central Bank, in cooperation with international financial institutions, to attract investment, particularly in sectors that generate profits and economic savings, such as the Development Road, the Faw Port, and also investment in the oil sector and manufacturing industries, as well as investment in the housing sector, economic cities, smart cities, and the banking sector, have contributed to achieving this rating.

Ways of cooperation

The spokesperson added that many countries have greatly benefited from foreign investment, emphasizing the importance of providing government support and finding avenues for cooperation to ensure investment becomes a driving force in Iraq, as many other countries have achieved, creating an attractive investment environment by eliminating bureaucracy. In this context, Dr. Maitham Adham Al-Zubaidi, Vice President of the Competition and Monopoly Council, stated that attracting investment to Iraq requires addressing the structural factors that influence investor decisions, primarily reforming the banking system, ensuring exchange rate stability, and establishing clear monetary policy. He noted that these factors play a crucial role in building trust and providing a predictable financial environment.

Al-Zubaidi told Al-Sabah that reform remains incomplete unless it is complemented by strengthening governance and transparency, especially in the Iraq Stock Exchange, by protecting shareholders’ rights, ensuring disclosure, and transforming the market into a real tool for financing companies and not just a limited trading platform with an economic concentration in the banking sector to the exclusion of other sectors. He pointed out that simplifying administrative procedures is a necessity of no less importance, as the multiplicity of granting bodies and licensing committees and the conflict of classifications of economic activities constitute a burden on the investor.

Pivotal steps

He added that unifying activity classification systems among licensing and business registration bodies and regulatory authorities, such as the ISIC4 system, is a pivotal step toward reducing overlaps, preventing conflicting interpretations, and building a unified government economic data portal accessible to the public. This portal will accurately serve investors and feasibility study makers. He emphasized that infrastructure, particularly in communications and transportation networks, forms the foundation upon which any economic activity rests, and its development requires liberalizing competition and preventing monopolies, along with effective regulation that ensures a level playing field. By linking these three paths within a clear governance framework, Iraq can transition from an economy that repels investment to one that is attractive and sustainable.

Alsabaah.iq

Al-Karawi: 10 urgent laws awaiting a vote in the sixth parliamentary session

MP Mudhar al-Karawi confirmed on Tuesday that there are ten urgent laws that must be voted on during the sixth parliamentary session, given the economic and financial challenges facing the country.

Al-Karawi told Al-Maalouma that “the sixth parliamentary session faces significant tasks and responsibilities, especially with dozens of laws, some ready for a vote, that require progress in the coming period.” He pointed out that “there are ten urgent laws, foremost among them the salary scale law, in addition to other laws that require national consensus for their passage.”

He emphasized “the necessity of activating oversight and monitoring mechanisms within the legislative powers and pressing for a roadmap to address the economic situation.” He explained that “the financial and economic situation will constitute the most prominent challenges over the next four years, especially with the decline in oil prices and its repercussions on the state treasury, as well as the current financial crisis.”

Al-Karawi stressed “the importance of adopting bold solutions to support government measures in a way that contributes to strengthening the economy and providing more job opportunities.” He affirmed that “poverty rates in the country remain high, which necessitates swift legislative and governmental action to address these issues.”

Almaalomah.me