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Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Iraq Weekly Economic Report. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Iraq Is The Largest Importer Of Iranian Goods, With A Value Of $10 Billion. ARTICLE: Middle East News reported on Wednesday that Iraq tops the list of countries importing Iranian goods, with purchases amounting to about $10 billion between April 2024 and January 2025, followed by the UAE with about $6 billion & then Turkey with $5.5 billion. According to official data from the Iranian Customs Administration, the volume of non-oil trade between Iran & its fifteen neighboring countries reached $13.42 billion during the period from March 20 to June 21 of last year, with the exchange of about 23 million tons of goods. In terms of exports, Iraq remained the primary destination for Iranian goods, with a value of $1.9 billion, followed by the UAE at $1.6 billion, then Turkey at $940 million, Afghanistan at $510 million & Oman at $437 million. Imports from neighboring countries reached $6.8 billion, with the UAE topping the list of countries supplying Iran with over $3.9 billion, followed by Turkey at $1.98 billion, then Russia at $353 million & Oman at $223 million. According to the same data, the volume of non-oil trade between Iran & neighboring countries continued to rise, recording an increase of 21% year-on-year until March 19, 2025, reaching $74.32 billion, with exports rising to $36.01 billion compared to imports of $38.31 billion. Despite concerns expressed by Iraq, the UAE & Oman regarding the impact of the US tariffs, the decision has not yet included clear details on the implementation mechanism or any potential exemptions. In this context, the UAE Minister of Foreign Trade, Thani Al Zeyoudi, stated that his country is monitoring the situation to determine the extent of the decision's impact on food imports. Gold Rises 1% As Silver Surpasses $90 An Ounce. ARTICLE: Gold prices rose to new record highs on Wednesday, while silver jumped to an all-time high above $90 an ounce, supported by weaker-than-expected US inflation readings that boosted bets on interest rate cuts. Gold rose 1.02% in spot trading to reach $4,634.40 an ounce. US gold futures for February delivery also rose 0.9% to $4,643.80. The data showed that the US consumer price index rose 0.2% month-on-month and 2.6% year-on-year in December, driven by higher rent & food costs. This increase came as the impact of some distortions related to the government shutdown, which had put pressure on inflation in November, eased, but it remained below analysts' expectations of a rise of 0.3% monthly & 2.7% annually. US President Donald Trump welcomed the inflation figures, renewing his pressure on Federal Reserve Chairman Jerome Powell to cut interest rates. Investors & major brokerage firms, including Goldman Sachs & Morgan Stanley, expect two interest rate cuts of 25 basis points each this year, with the first possible cut in June. On the geopolitical front, Trump on Tuesday called on Iranians to continue the protests, saying that “help is on the way,” amid the largest wave of protests in Iran in years. As for other precious metals, silver surged in spot trading, surpassing $90 an ounce for the first time ever. Platinum climbed 3.5% to $2,405.30, its highest level in a week, after hitting a record high of $2,478.50 on December 29. Palladium rose 1.8% to $1,873. Turkey is also facing a state of confusion as its trade with the US expands from $30 billion to $100 billion, but it knows how to deal with such situations without a direct clash with Washington, according to analyst Taha Aydinoglu. In contrast, China, the largest buyer of Iranian oil, continues to protect its interests & oppose any unilateral sanctions, while European economies such as Germany & Switzerland, along with India & Uzbekistan, also appear to be exposed to the impact of this tariff, reflecting the widening commercial reach of Iran across different continents. In recent days, the USs announced that any country that conducts trade with Iran will face a 25% tariff on its trade with the US a move that could include Iraq, which is among the Arab countries most closely linked to trade with Tehran. The US decision comes at a time when Iran is witnessing its largest anti-government protests in years, within the context of a series of sanctions imposed by Washington on Tehran for years. Oil Prices Jump, With Brent Rising Above $65 Per Barrel. ARTICLE: Oil prices rose in global markets on Tuesday, with Brent crude trading above $65 a barrel, while US crude also posted gains. Data from the global oil market, reviewed by the Iraqi News Agency (INA), showed that Brent crude futures rose by 1.70% to reach $65.08 a barrel. The data also indicated that West Texas Intermediate (WTI) crude futures climbed by 2.65% to reach $60.60 a barrel. 2026-01-14 06:03 Shafaq News– Baghdad Iraq’s foreign currency reserves declined by the end of October 2025, according to figures released by the Central Bank of Iraq (CBI) on Wednesday. Despite the monthly decline, the data showed an increase compared with August, when reserves totaled 123.033 trillion Dinars ($94.641B). The figures also pointed to a broader downward trajectory from the same period in 2024, when reserves stood at 130.347 trillion Dinars ($100.267B), as well as from 2023, when they reached 145.257 trillion Dinars ($111.736B). Official data showed the reserves stood at 126.857 trillion Iraqi dinars ($97.582B) as of October 31, easing from 127.601 trillion Dinars ($98.155B) at the end of September. Dollar Rises In Baghdad, Erbil Markets. ARTICLE: The USD rose at the opening of Wednesday trading against the Iraqi Dinar in Baghdad & Erbil markets. According to a Shafaq News correspondent, the dollar climbed at Baghdad’s Al-Kifah and Al-Harithiya central exchanges to 147,500 Dinars per $100, up from 146,400 Dinars recorded on Tuesday. Exchange shops in the capital also reported higher rates, with the selling price reaching 148,000 Dinars per $100 & the buying price standing at 147,000 Dinars. In Erbil, the USD followed the same upward trend, selling at 147,550 Dinars per $100& buying at 147,450 Dinars.

Here's some articles of Dinarian inerests... Direct From The SANDBOX Report. The Prevailing Economic System. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: A Financial Expert Calls For Stricter Oversight Of Banks In Iraq. ARTICLE: On Wednesday, financial & banking expert Abdul Aziz Hassoun called on the CBI to take strict measures & oversight to regulate the work of banks, in order to ensure the protection of citizens' rights, noting that the banking system in Iraq operates within an unstable environment that has prevented it from performing its normal functions. Hassoun told Al-Maalomah News Agency that "the security, economic & social conditions are major factors for instability in the banking sector, which negatively affects citizens' confidence & pushes them to refrain from depositing, especially in government banks, which leads to a shortage of cash liquidity & disrupts economic activities in the country." He added that "a large number of banks have begun to engage in activities that do not fall under the category of real banking, exploiting the state of turmoil to achieve private gains at the expense of the banking policy set by the CBI." He explained that "the CBI is required today to implement strict procedures & activate serious oversight of banks' operations, with the aim of securing citizens' rights & strengthening confidence in the banking system," noting that "directing financial revenues solely towards imports is one of the main reasons for the decline & stagnation of banking performance in Iraq." Economic: The Shift Towards An Electronic Payment System Provides The State With Financial Liquidity. ARTICLE: Economic researcher Diaa Abdul Karim found that the shift in transactions within state departments to an electronic system for paying fees & collecting taxes will provide the state with significant liquidity. Abdul Karim told Al-Maalomah, “Iraq is still young in its transition towards electronic payment systems, while European countries & even neighboring countries have preceded Iraq by many years in the transition towards electronic payment.” He added that "there is a lack of acceptance of the electronic system,as the people are not used to such systems, despite their great benefit & the fact that they protect citizens from financial theft & ensure easy purchasing without the burden of carrying and protecting money." He explained that "the primary goal of transitioning to an electronic payment system & expanding this experience across various government departments is to ensure the availability of cash for the state, in addition to guaranteeing that it does not bear additional burdens related to printing currency. Therefore, it is a positive step, provided there is proper public awareness & acceptance of it in Iraq." The Prevailing Economic System. ARTICLE: Yasser Al-Mutawalli We are addressing a very important topic, resulting from the outputs of the liberal economic system supported by the IMF & the WB, a system based on the theory of the trickle-down effect of growth. This theory is based on stimulating investment, whether internal or external, which results in growth. Growth is defined as meeting a country’s needs for services & goods & investment is what provides these needs. This theory, adopted by the IMF & the WB, suggests that the process of stimulating investment is summarized in tax exemptions on profits & wages, which encourages investors to increase production & generate profits & thus create large & wide job opportunities, thereby achieving sustainable growth & reaching its goals, which mean achieving well-being and more services and goods that meet the needs & desires of society. This theory seems comfortable & satisfying when the fruits of growth fall on the citizen, but over time a group of economic experts discover that this theory cannot be applied as the profits of companies grow as institutions expand in size to become monopolies… The question is how? The goal of investing & producing companies is to generate profits & this goal can be achieved in two different ways. The 1st & most important, is for these companies to expand their investments, whether in factories or farms, as net investments that contribute to growth & its fruits. The 2nd way is to reduce costs to achieve maximum profits by reducing production. Large companies in this case become monopolistic through saving, which means that surplus funds leave the income cycle, thus reducing wages. This necessitates providing additional incentives to encourage them to invest domestically. The 2nd way has appealed to companies because of its ease, thus obscuring the true purpose of growth. But over time & given the freedom of companies to move their money, they began planning to invest outside the country in the space of globalization to obtain incentives to achieve more profits, through the thirst of those countries for foreign investments & obtaining cheap labor & a market that accepts production, which pushes them not to expand in domestic investments. Herein lies the problem of the occurrence of people’s disturbances due to the lack of job opportunities & high prices & the occurrence of stagflation & weak growth, despite the incentives that companies obtained from tax exemptions on their profits & other privileges within the framework of the philosophy of supply-side economics. This is the origin of the prevailing & globally promoted economic system, which makes addressing the causes of declining growth & rising unemployment a path inextricably linked to advocating for the liberal growth model. Therefore, most developing countries resort to attracting foreign investment to capitalize on its potential to achieve growth that provides societal well-being by supplying the necessary goods & services & creating job opportunities. Here, experts advise the importance of taking the necessary measures when working to attract foreign investments, to contribute to the targeted growth, provided that a balance is achieved between investment incentives such as exemptions on profits & the freedom of movement of company capital, by not allowing monopolies, in order to benefit from the theory of reaping the fruits of falling growth leaves. This balance can be achieved through competitiveness, adopting a system of multiple companies for a single activity, & making the partnerships required to achieve this goal.

Here's some articles of Dinarian interests... Saleh: The Revenue Improvement Is Temporary. Treat as rumors. Not verified. Your opine. The Iraqi Market Saw Its Name Traded At More Than 57 Billion Dinars In A Week. ARTICLE: The Iraq Stock Exchange announced on Tuesday that shares worth more than 57 billion Dinars were traded during the past week. The market said in a report that "the number of companies whose shares were traded during the past week reached 69 joint-stock companies, while the shares of 25 companies were not traded due to the failure of purchase orders to match sale orders, while 10 companies continued to be suspended due to failure to provide disclosure, out of 104 companies listed on the market." The report added that "the number of shares traded reached 47 billion, 694 million, and 841 thousand shares, an increase of 1075% compared to the previous week, with a financial value of 57 billion, 617 million & 84 thousand dinars, an increase of 1240% compared to the previous week, through the execution of 4278 transactions." He noted that "the ISX60 index closed at 988.42 points, recording an increase of 1.95% compared to its closing in the previous session." The report explained that “the number of shares purchased by non-Iraqi investors last week amounted to 2 billion shares with a financial value of 1 billion Dinars through the execution of 71 transactions, while the number of shares sold by them amounted to 53 million shares with a financial value of 240 million Dinars through the execution of 35 transactions.” It is worth noting that the Iraq Stock Exchange holds five trading sessions weekly from Sunday to Thursday, and includes 104 Iraqi joint-stock companies representing the banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels & services sectors. Al-Halbousi: We Are Proceeding With Fulfilling The Constitutional Requirements & Forming A Government That Will Assume Responsibility For Managing The State & Overcoming The Crises. ARTICLE: The head of the Progress Party, Mohammed al-Halbousi, affirmed on Tuesday the commitment to fulfilling constitutional requirements & forming a government capable of managing the state and overcoming crises. Speaking to several media outlets from inside the parliament building, al-Halbousi stated that political forces are proceeding with completing constitutional obligations & forming a government able to shoulder the responsibility of governing the country & navigating the crises. He added that the Iraqi judiciary serves as a safeguard for the political process from a constitutional standpoint, given its role in establishing the legal framework & providing counsel to political forces in accordance with the law & the constitution. Gold Rebounds After A Two-Week Decline & Silver Also Recovers. ARTICLE: Gold prices rose on Tuesday, recovering from a two-week low hit in Monday's session, following a year-end profit-taking wave that had led to a broad decline in precious metals prices. Spot gold climbed 1% to $4,374.83 an ounce, after reaching a record high of $4,549.71 last Friday. On Monday, it fell to its lowest level since December 17, 2025, marking its biggest daily loss since October 21 of the same year. U.S. gold futures for February delivery also rose, gaining 0.8% to $4,377.80 an ounce. The yellow metal performed strongly during 2025, rising by about 66% so far. This rise was supported by interest rate cuts, market expectations of further monetary easing by the US Federal Reserve, geopolitical tensions, strong demand from central banks & increased holdings in exchange-traded funds. Traders expect the US Federal Reserve to cut interest rates at least twice during the next year, as non-yielding assets, such as gold, tend to perform better in a low interest rate environment. In other metals, silver rose 3% in spot trading to $74.41 an ounce, after recently hitting an all-time high of $83.62. Yesterday, it suffered its biggest daily loss since August 11, 2020. Silver has risen about 154% since the beginning of the year, outperforming gold, driven by its inclusion on the list of critical metals in the United States, along with supply shortages, declining inventories & rising industrial & investment demand. Kelvin Wong, senior market analyst at OANDA, said that the long-term rise for both gold & silver is likely to continue, predicting that prices will reach $5,010 an ounce for gold & $90.90 an ounce for silver within the next six months. Platinum also rose in spot trading by 1.1% to $2,132.86 an ounce, after recording its biggest daily drop in history yesterday following a record high of $2,478.50. Palladium also rose by 1.1% to $1,634.29 an ounce, after having lost 16% of its value during yesterday's session. The Dollar's Value Fell In Local Markets As The Stock Exchange Closed. ARTICLE: The ER of the USD fell in Baghdad & Erbil on Tuesday evening, coinciding with the closure of the stock exchanges. The USD was trading at 143,900 Iraqi dinars per 100 USD in Baghdad's Al-Kifah and Al-Harithiya exchanges, down from 144,250 Dinars per 100 USD earlier in the day. ER at local currency exchange shops in Baghdad also declined, with the selling price reaching 144,500 dinars per 100 USD & the buying price at 143,500 Dinars per 100 USD. In Erbil, the USD also fell, with the selling price reaching 143,050 Dinars per 100 USD & the buying price at 143,000 Dinars per 100 USD. Saleh's appearance: The Revenue Improvement Is Temporary & The Solution Lies In Diversifying The Economy & Boosting Productive Spending. ARTICLE: Economic expert Mazhar Muhammad Saleh confirmed on Tuesday that the efficiency achieved in managing public liquidity, fulfilling basic obligations & controlling deficit levels when revenues improve & work to maximize them, is a periodic improvement, not a structural one, due to its direct link to the price cycle of the basic resource, namely oil. Saleh explained in his interview with Al-Furat News Agency that "this reality constantly calls for a move towards financial strengthening as a preventive option, which is based in essence on examining public spending, analyzing the structure of expenditures & raising their efficiency to the highest possible level, before thinking about resorting to financing through borrowing." He explained that “the steps taken to diversify the sources of national income cannot bear fruit through isolated or circumstantial financial measures, but rather require a comprehensive strategy based on an investment budget guided by results & economic impact, not by being satisfied with the logic of allocations & the transformation from a spending state to a production state, in which public resources are employed to generate sustainable added value, in addition to linking the financial policy with a clear industrial & commercial policy, capable of stimulating the productive sectors & enhancing the competitiveness of the nat'l economy.” He concluded by saying that "the General Budget will remain, otherwise, hostage to the cycle of a single resource, no matter how much its management tools improve in the short term & no matter how high the level of situational financial discipline."

Here's an article of Dinarian interests... Direct From The SANDBOX Report. The 5 Pillars Of The Iraqi Economy. Treat as a rumor. Not verified. Your opine. FROM IRAQI SOURCES: An Economic Expert Identifies 5 Pillars For Strengthening Iraq's Economic Power. ARTICLE: On Friday, economist Salah Nouri identified five key pillars for strengthening Iraq's economic power, stressing that the success of economic programs & the path to int'l development is linked to combating corruption in contracts & implementation. Nouri told Al-Furat News Agency that "economic strength lies in local production that competes with imported goods, especially agricultural and animal production," noting that "the Iraqi environment is historically an agricultural country and the elements of agricultural production can be provided, provided that the water problem is solved at the present time." He added that "the second pillar depends on enhancing industrial production through public-private partnership contracts, as well as encouraging small and medium enterprises by supporting them with soft loans while ensuring the monitoring and regulation of these projects." Nouri stressed "the importance of accelerating the completion of the electrical power infrastructure and utilizing the natural gas associated with oil extraction," while also calling for "reconsidering the size of the operational budget and streamlining spending, especially unjustified privileges in light of the financial crisis." The economist stressed that "the success of these programs, in addition to the International Development Road project, depends primarily on combating corruption in contracting and implementation processes." 2026...Expectations & Surprises. ARTICLE: Yasser Al-Mutawalli In just a few days, the clock will tick away, announcing the end of one year and the beginning of a new one. The year 2026 is just around the corner. Experts' predictions are often based on indicators and signs of economic phenomena and the changes that occur to them. These predictions are often correct and accurate, and sometimes they intersect with unforeseen surprises. According to the indicators shown to us, and within the economic framework that constitutes the specialization of this page and my professional interest, the general picture points to a future that promises a real breakthrough in achieving an important aspect of economic reform. The current government has taken steps and made beginnings with a clear imprint, characterized by particular importance in launching a major development program that will restore the Iraqi economy to its former glory, strength, and status. In the service sector, any observer can witness the realization of a number of service projects on the ground, without the trouble of evaluation or controversy, forming the nucleus of a primary infrastructure that we desperately need, in support of upcoming strategic projects, such as bridges and overpasses, paving of main and secondary streets, and others. As for diversifying the economy and sources of funding, actual steps have begun, even if some of them are limited to initialing agreements with major international companies investing in the implementation of strategic projects, most notably the Development Road project, in addition to other promising projects. Within the sub-sectors of economic reform, the banking sector is witnessing today a tireless effort to correct the course of banks, enabling them to provide the requirements of development, including meeting the needs of investment companies for advanced financial services. In terms of international, regional and Arab economic relations, Iraq has opened up to extensive exchange and cooperation deals, reflecting the improvement in its economic position and its increasing involvement in its regional and international environment. The above is but one aspect of many that cannot be fully addressed in this article. However, this achievement provides a solid foundation upon which the next government can build to continue the journey, adopt the important projects whose foundations have been laid, and ultimately achieve the desired economic reform and sustainable development. I must also mention a crucial indicator upon which we can build a better future: human capital, the cornerstone of development and progress. Alongside this, the health sector has witnessed a significant victory, marked by the successful implementation of the health insurance program for the first time in our country, although we still need more hospitals and advanced medical services. As for the surprises that may be imposed by international events and changes, they are naturally beyond our control, but the duty remains to deal with them in accordance with the interest of the country and its people. Beyond that, it is the responsibility of the new and anticipated government to turn expectations into realities on the ground, so that the citizen may enjoy the bounty and wealth of his country. All we need is sound management of public funds, and the rest will happen automatically. Experts: Liquidity Is Under Control, Reforms Are Necessary. ARTICLE: Baghdad: Hussein Thagab and Imad Al-Imara Economic experts have downplayed concerns about financial risks threatening the reality of public spending in the country, stressing that what the state’s monthly liquidity is witnessing does not amount to a “financial gap” in the scientific and precise sense, but rather reflects mainly the effects of fluctuating crude oil prices in global markets, in addition to the limited non-oil resources. They pointed out that the financial situation remains within manageable limits, but requires genuine structural reforms to prevent a recurrence of crises and enhance financial stability in the medium and long term. Experts believe that talk of a fiscal gap is often misunderstood, as a gap implies a persistent structural deficit between revenues and expenditures, whereas the current situation is linked to temporary fluctuations in monthly cash flows. These fluctuations stem from the nature of a rentier economy and its near-total dependence on oil, making public finances vulnerable to changes in global markets. In this context, the Prime Minister's financial advisor, Dr. Mazhar Muhammad Salih, affirmed that the fluctuations in monthly liquidity cannot be classified as a genuine financial gap, but rather reflect temporary imbalances linked to the volatility of oil revenues and the weak contribution of non-oil revenues to financing the general budget. In an interview with Al-Sabah newspaper, he explained that managing this situation requires a high degree of realism in financial decision-making and swift action, avoiding reactive or temporary solutions that could lead to deeper imbalances in the long run. The Essence Of Financial Stability: Saleh pointed out that maintaining financial stability at this stage necessitates controlling and prioritizing operational spending to ensure it is directed towards the state's essential obligations, primarily salaries for employees and retirees, social safety nets, and critical service and security sectors. He emphasized that rationalizing or postponing some non-essential expenditures does not mean reducing the state's role, but rather aims to protect financial and social equilibrium and prevent financial pressures from spreading to broader segments of society. He added that any financial solution must balance the requirements of monetary stability with the social dimension, warning that ill-considered decisions could create inflationary or social effects that would be difficult to contain later. Maximizing Resources And Improving Tax Collection: The financial advisor emphasized that maximizing financial resources is a complementary approach to controlling spending. This can be achieved by improving the efficiency of tax collection and the collection of outstanding dues, along with developing tax administration and expanding the tax base without overburdening low-income earners. He explained that strengthening non-oil revenues has become a strategic necessity to reduce the vulnerability of public finances to oil price fluctuations. He also indicated the possibility of resorting to domestic borrowing within carefully considered limits and using short-term instruments, provided that this does not lead to liquidity pressures or create inflationary waves. At the same time, he emphasized the importance of activating the investment of underutilized government assets and transforming them into productive resources, thereby contributing to supporting public finances and achieving sustainable revenues in the medium term. Diagnosing The Structural Problem. For his part, financial expert Alaa al-Fahd explained that Iraq's financial problem has been identified for years and stems from the rentier nature of its economy and its excessive reliance on oil revenues, making the country highly vulnerable to any rise or fall in crude oil prices on global markets. He emphasized that this structural problem requires reforms that go beyond temporary or patchwork solutions. Al-Fahd told Al-Sabah: “The current stage calls for adopting urgent and immediate reforms to deal with the current challenges, in addition to future strategic reforms aimed at diversifying the revenue basket and reducing dependence on oil, as well as reducing government spending as much as possible without affecting social or productive investment spending.” Strategic Projects: As A Safety Valve: Al-Fahad pointed out that the major projects adopted by the government, including the Grand Faw Port and the Development Road project, as well as the revitalization of the agricultural and industrial sectors, represent a crucial pillar for mitigating the impact of any potential financial crisis. He explained that these projects not only provide direct revenues but also contribute to addressing chronic economic bottlenecks, creating job opportunities, and stimulating local production chains that enhance the added value of the national economy. He added that investing in agriculture and industry represents a strategic option to transform the economy from a rentier, consumer-based economy to a productive one, thus ensuring more stable and less volatile sources of income. Permanent Sources Of Revenue: The financial expert stressed that the current financial situation does not pose a direct threat to the country’s stability, but that the continuation of the situation as it is without radical treatment may lead to unacceptable confusion, in light of the one-sided economy, weak government coordination, and the disruption of many sectors that are supposed to be key drivers of growth and permanent sources of revenue. He pointed out that the next government bears a double responsibility in finding real solutions to the problems of the economy, by adopting clear policies to move towards diversifying financial revenues, while avoiding resorting to unstudied internal or external debt, due to the future burdens it places on public finances. Digital Transformation As A Reform Tool: Al-Fahad pointed out that automating taxes and customs, and transitioning to electronic collection systems, are pivotal reform tools for the next phase, given their role in increasing revenues, reducing waste and corruption, and improving financial transparency. He emphasized that these measures, along with activating productive sectors, can contribute to achieving sustainable financial and economic prosperity. He concluded by emphasizing that the current financial situation is still under control, but managing the next phase requires courageous decisions and gradual and well-thought-out reforms, stressing that the search for real solutions is no longer an option, but an inevitable necessity to ensure economic and social stability in the country. Experts: Iraq Achieves Financial Balance That Boosts Global Market Confidence ARTCLE: Hussein Thagab and Imad Al-Imara Economic experts and specialists have downplayed the risks of Iraq’s internal and external public debt, stressing that its ratio is still within the safe international standard range, and that the strength of the foreign currency reserves has contributed to the stability of Iraq’s financial situation. The opinions of experts and specialists in economic affairs were consistent with the assurances of the Prime Minister’s financial advisor, Dr. Mazhar Muhammad Saleh, who indicated that “only $3 billion of the remaining debts to the Paris Club will be settled by 2028, and that 47% of the internal debt remains within the investment portfolio of the Central Bank of Iraq, and is covered as cash liquidity or cash liabilities at a rate exceeding 100% in foreign currency thanks to the strength of Iraq’s foreign reserves.” Debt Repayment Mechanism: Saleh told Al-Sabah: “There is an amount of less than $6 billion of external debt being withdrawn and spent on projects in the liberated areas, from loans provided by international development funds, all of which will also be paid in the current decade, in addition to an external debt of about $9 billion that will be paid gradually in the next decade.” He explained that the federal general budget sets a precise mechanism for settling external debts and their due dates on an annual level with a high degree of regularity, which has made Iraq’s credit rating more stable at the B level during the last ten years. He added that the external public debt does not exceed, in all circumstances, between 7 and 8% of the gross domestic product, which is within the safe international standard range that allows the public debt to the output to be 60%, noting that the fluctuations in the price of oil, the main resource for the general budget, between 2014 and recently, and other external factors, led to government borrowing from the local banking market, which led to an increase in the internal public debt to about 92 trillion Iraqi dinars. Investment Portfolio: The government advisor explained that 47% of the internal debt remains within the investment portfolio of the Central Bank of Iraq, and it is covered as cash liquidity or cash liabilities at a rate of more than 100% in foreign currency thanks to the strength of Iraq’s foreign reserves. He stressed that the total internal and external public debt as a percentage of GDP remains within the safe international standard range and does not exceed 35% to 40% of the country’s GDP under any circumstances. Saleh emphasized the positive role played by monetary policy in what is called “monetary adjustment”, by facilitating the acceptance of bonds, bills or treasury bills under which public finances borrowed through market operations and absorbing them within the investment portfolio of the Central Bank of Iraq at a rate of approximately 47%, which greatly increased the liquidity of the economy. And The Expansion Of The Monetary Base. Real Assets: Saleh pointed out that the public finances authority, sooner or later, must begin accepting a strict and joint reform program between it as the financial authority and in conjunction with the monetary authority to gradually extinguish the internal public debt by linking that debt and exchanging it for real, productive government assets, or those capable of becoming productive, that generate high-value chains that help diversify the national economy, extinguish the debt at the same time, and support sustainable development. Saleh called for the adoption of an economic model for swapping public debt for real government assets, by undertaking the Equity Acquisition process and the productive operation of distressed real government assets and converting them into joint-stock companies in a major partnership model between the state and the private sector, explaining that in this way the public debt can be gradually exchanged for those shares tradable in the capital markets, and the negative financial shocks that generated and accumulated that debt can be transformed. Towards A Productive Force: Enhancing Production Capabilities: In the same context, Alaa Fahd, a member of the media team at the Central Bank of Iraq, stated that the issue of debt is not an exceptional case specific to Iraq alone, as even major countries like the United States have internal and external debts, and it is often considered the most frequently used financial tool. In Economic Growth.: Fahd explained to Al-Sabah that borrowing is not a problem in itself when it is directed towards investment spending because it creates income and job opportunities and enhances production capabilities. He pointed out that the internal debt, which currently amounts to about 91 trillion dinars, can be dealt with in a considerable part because it is owed to government banks owned by the state, which makes it less dangerous. However, the continued reliance on borrowing is a warning bell that calls for serious treatment. He stressed that the solution lies in diversifying non-oil revenues and not being satisfied with a single resource, in addition to enhancing electronic collection of taxes and customs, and opening the way for investments and partnerships with the private sector to reduce pressure on public finances, calling for the revitalization of stalled sectors such as agriculture, industry, transportation and communications, and negotiating with OPEC Plus to increase Iraq’s oil quota in line with its production capacity.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Weekly Iraq Economic Updates. Treat as rumors. Not verified. Your opine. Iraqi Christians Celebrate Christmas Mass. ARTICLE: Christians throughout Iraq celebrate Christmas & the New Year in a traditional manner that combines religious & social rituals. The Ain Kawa region in Iraq is considered one of the most prominent centers where Christians celebrate Christmas & the New Year, as the celebrations there are characterized by deep religious rituals & social customs inherited across generations. Preparations usually begin weeks before Christmas, with residents decorating churches & homes with lights & colorful decorations & placing a nativity scene representing the birth of Jesus Christ, to become the focus of attention for children & families. In churches, services are held that include the recitation of Christmas prayers & hymns reflecting spirituality & pride in Christian identity. Activities are also organized for children, such as short plays depicting the Nativity story. From a social perspective, visits to relatives & neighbors are an essential part of the celebration, where people exchange greetings and symbolic gifts & invitations are made to communal feasts that strengthen ties between members of the community. Traditional foods prepared & served on this occasion vary, most notably grilled meats, pacha, Mosul kibbeh, special Christmas cakes, local sweets such as baklava& various pastries prepared by families. The President Of The Republic Congratulates Christians In Iraq & The World On The Occasion Of Christmas. ARTICLE: President Abdul Latif Jamal Rashid extended his congratulations and best wishes to Christians in Iraq & around the world on the occasion of Christmas, emphasizing his deep appreciation for their integral role in the history & present of our nation. Oil Minister: Refining Sector Projects Aim To Transform Iraq Into An Exporter Of Petroleum Products. ARTICLE: Deputy PM for Energy Affairs and Oil Minister Hayyan Abdul Ghani stated on Wednesday that the ministry aims, through expansion projects in the refining sector, to transform Iraq into an exporter of oil derivatives. This came during his chairmanship of a meeting to discuss refining capacity projects for Iraqi refineries & expansion plans to increase & sustain production, according to a statement issued by the ministry. The statement quoted the minister as saying that the ministry had achieved great accomplishments in the liquidation sector, reaching the stage of self-sufficiency, noting that the ministry is working to provide a stockpile for emergency situations. The meeting was attended by the ministry’s undersecretaries for the extraction, gas & refining sectors & the directors general of the relevant departments in the ministry. Abdul Ghani stressed the need to adopt modern methods and techniques to ensure the continuity of the successes achieved in the field of refining, especially after the completion of the ministry’s projects to improve gasoline in the two projects: Al-Sumoud Refinery in Baiji & the FCC unit in the South Refineries Company. Abdul Ghani continued, saying: “Regarding gas oil (kerosene), the ministry has achieved self-sufficiency & we are in the export phase,” noting the ministry’s efforts to increase revenues for the state treasury. He explained that the expansion projects in the refining sector are intended to transform Iraq from a consumer & importer of oil derivatives to an exporter of derivatives, as well as to provide job opportunities for Iraqis. Basra Crude Oil Prices Rise In Wednesday's Trading. ARTICLE: Prices for Basra Heavy & Medium crude oil rose in trading on Wednesday. The prices were as follows: Basra Heavy crude prices rose by 64 cents, or 1.11%, to reach $58.36. Basra Medium crude prices rose by 64 cents, or 1.06%, to reach $60.91. Gold And Silver Continue To Record High Levels. ARTICLE: Gold surpassed $4,500 an ounce on Wednesday for the 1st time ever, driven by increased safe-haven demand & expectations of further US interest rate cuts next year. Silver & platinum also climbed to record highs. Spot gold rose about 0.4% to $4,503.59 an ounce by 00:00 GMT, after hitting a record high of $4,509.65 earlier. US gold futures for February delivery climbed 0.7% to a record high of $4,540.60 an ounce. Spot Silver Gained 0.5% To $71.80 An Ounce, Having Earlier Reached An All-Time High Of $71.85. ARTICLE: The Dollar fell to its lowest level in nearly three months on Tuesday against a basket of other major currencies, making Dollar-denominated gold more attractive to overseas buyers. Forex Trading Tools: Gold has had a strong year in 2025, rising 72% so far & setting multiple record highs. It has benefited from several factors this year, including US interest rate cuts, bets on continued monetary easing, int'l conflicts, strong demand from central banks seeking to diversify their reserves away from the Dollar & increased investment demand in exchange-traded funds (ETFs). Silver has risen 149% since the beginning of the year, significantly outperforming gold & has surpassed $70, driven by structural deficits, its inclusion on the US list of critical metals & strong industrial demand. On the macroeconomic front, traders still expect two US interest rate cuts next year. As for other precious metals, platinum rose 2.9% in spot trading to $2,342.25 an ounce after hitting an all-time high of $2,347.40, while palladium gained nearly 3% to $1,919.69 an ounce, its highest level in three years. Dollar ER Against The Iraqi Dinar Today. ARTICLE: Mawazin News publishes today, Wednesday, the exchange rates of the USD against the Iraqi Dinar in local markets. The rates are as follows: Selling price: 143,750 Iraqi Dinars per 100 USD. - The purchase price is 142,750 Iraqi Dinars for 100 USD.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Iraqi weekly economic Report. Sudanese Discusses With Economic Experts The GOI's Efforts To Diversify Revenue Sources. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: ISX Is Approaching Two Billion Dinars In A Single Trading Session. ARTICLE: The Iraq Stock Exchange recorded relative stability in its two main indices during Monday’s session, December 22, 2025, amid moderate trading & a limited increase in the number of traded shares, according to the daily report issued by the market. The number of shares traded in the regular market & OTC reached about 779 million shares, with a financial value exceeding 1.96 billion Iraqi Dinars, distributed among the shares of 119 listed companies, of which 52 companies were actually traded, while the share prices of 15 companies rose, compared to the decline in the share prices of 6 companies & the prices of 10 companies remained stable without change. The ISX 60 index recorded a slight increase to close at 986.22 points, compared to 984.01 points in the previous session, achieving a change of 0.22%, while the number of shares traded within the index reached about 2.21 million shares. The ISX 15 index closed at 1,194.66 points, up from its previous close of 1,193.71 points, with a change of 0.08%, with approximately 0.95 million shares traded within the index. As for the over-the-counter (OTC) market, the value of trades reached 1.96 billion Dinars, distributed among 36 unlisted companies, with 11 companies rising, compared to 13 companies falling, while the number of executed OTC deals reached 1,165 deals. In a related context, the report indicated that the Iraqi Refineries Company’s stock was excluded from the trading session for one day because its price exceeded the ceiling of 2,700 Dinars, reaching 2,750 Dinars at the current closing. The market also announced that Tuesday, December 23, 2025 will be the last trading session of this year, with trading resuming with the first session of 2026 on Sunday, January 4. Dollar Prices Rise As The Stock Exchange Closes. ARTICLE: The ER of the USD against the Iraqi Dinar rose this afternoon in Baghdad's markets, following the closure of the stock exchange. The USD saw a slight increase in the main Al-Kifah and Al-Harithiya exchanges in Baghdad, reaching 143,000 Dinars per 100 Dollars, compared to 142,900 Dinars per 100 Dollars this morning. The selling price at currency exchange shops in Baghdad's local markets remained stable, at 143,500 Dinars per 100 Dollars, while the buying price was 142,500 Dinars per 100 Dollars. In Erbil, the Dollar also rose, reaching 142,100 Dinars per 100 Dollars for selling & 142,000 Dinars per 100 Dollars for buying. Two Factors Behind The Rise Of Gold & Silver To Historic Levels. ARTICLE: Gold & silver prices surged to record highs today, fueled by escalating geopolitical tensions & expectations of a US interest rate cut. The rally boosted the metals' annual performance, marking their best year in over four decades. Silver rose as much as 3.4% in Monday's trading, nearing the $70 per ounce mark, while gold climbed more than 1.5% to break the previous record of $4,381 per ounce set last October. Experts Attributed The Historic Leap To Two Main Factors: -Monetary Outlook: Traders are betting on the US Federal Reserve (the central bank) cutting interest rates twice in 2026, especially given US President Donald Trump's calls for a more accommodative monetary policy. Lower interest rates are generally considered a catalyst for non-yielding precious metals. -Geopolitical Factors: Escalating int'l tensions are boosting the appeal of gold & silver as safe havens for investors. The US is intensifying its oil embargo on Venezuela, highlighting gold's exceptional role in 2024. Gold has seen a meteoric rise of nearly 70% since the beginning of the year, supported by two key factors: institutional demand – increased purchases by global central banks & capital inflows into gold-backed exchange-traded funds – & global politics: US President Donald Trump’s trade actions, along with his repeated threats to the independence of the US Federal Reserve, have added further momentum to the rise of the yellow metal. What About Other Precious Metals? The rise was not limited to gold & silver. Palladium also rose by more than 4% in 2025. Platinum also climbed for the eighth consecutive session, trading above $2,000 an ounce for the 1st time since 2008. Dellen Wu, commodity strategist at Pepperstone Group, said, "A large part of today's rally is driven by early bets on Fed rate cut expectations, & this move has been compounded by thin year-end liquidity." She added that weak job growth & lower-than-expected US inflation iin November supported the scenario of further interest rate cuts. Gold Prices Rise Again In Baghdad. ARTICLE: Gold prices, both foreign & Iraqi, saw a significant increase in local markets in Baghdad on Monday. In the wholesale markets of Al-Nahr Street in Baghdad this morning, the selling price of one mithqal (approximately 4.5 grams) of 21-karat Gulf, Turkish, & European gold reached 890,000 Iraqi Dinars, while the buying price was 886,000 Dinars. This compares to Sunday's price of 877,000 Dinars. The selling price of one mithqal of 21-karat Iraqi gold reached 860,000 Dinars & the buying price was 856,000 Dinars. As for jewelry shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 890,000 & 900,000 Dinars, while the selling price of one mithqal of Iraqi gold ranged between 860,000 & 870,000 Dinars. Oil Prices Rise Amid New Developments Off The Coast Of Venezuela. ARTICLE: Oil prices rose in early trading on Monday, influenced by the US interception of an oil tanker off the coast of Venezuela earlier in the week. Brent crude futures rose 44 cents, or 0.73 percent, to $60.91 a barrel, while US West Texas Intermediate crude futures rose 40 cents, or 0.71 percent, to $56.92 a barrel. The US Coast Guard is also tracking an oil tanker in int'l waters near Venezuela, which would be the 2nd such operation this weekend & the 3rd in less than two weeks if successful, according to Reuters. Analysts say the oil price rebound was driven by geopolitical developments, starting with Trump's announcement of a "total and complete" embargo on Venezuelan oil tankers subject to sanctions and subsequent developments, as well as news of a Ukrainian drone strike on a Russian shadow fleet vessel in the Mediterranean, further diminishing market hopes for a near-term peace agreement between Ukraine & Russia. Brent crude & West Texas Intermediate crude fell by about one percent last week, after both benchmark crudes fell by about four percent in the week that began on December 8. The Sudanese Discusses With Economic Experts The Government's Efforts To Diversify Revenue Sources. ARTICLE: PM Mohammed Shia al-Sudani met on Monday with a group of leading Iraqi experts and university professors specializing in economics & finance to discuss ways to enhance financial stability & the government's efforts to diversify revenue sources. A statement from his office, received by Economy News, indicated that "al-Sudani met today with a group of leading Iraqi experts and university professors specializing in economics and finance. They reviewed current economic developments & the challenges related to public financial management & foreign trade. They also discussed ways to enhance financial stability, the government's efforts to diversify revenue sources, rationalize spending, support the private sector & involve it in development plans, stimulate productive activity & create more job opportunities." The PM emphasized that "this meeting comes within the framework of the government's commitment to broadening the scope of consultation & listening to specialized professional perspectives to discuss a range of economic, financial & trade issues, in light of the fluctuations & challenges facing the global economy & their impact on the economic situation in Iraq." The PM emphasized "the importance of leveraging national expertise in formulating economic, financial & trade policies," stressing that "the current phase requires balanced decisions that combine immediate action to address challenges with ongoing structural reforms to ensure economic sustainability & safeguard social stability." In this context, he directed that "these consultations continue & their outcomes be reflected in the government's economic vision & direction, thereby enhancing the effectiveness of decisions & keeping pace with current economic changes." For their part, the participating economists presented a range of practical visions & proposals, affirming their support for the government's efforts to confront economic challenges & strengthen the reform process, thereby achieving the public interest & serving comprehensive development in the country.

Here's some articles of Dinarina interests... Direct From The SANDBOX Report. The Development Path Is Entering The Implementation Phase. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: PM's Advisor: The Development Path Is Entering The Implementation Phase. ARTICLE: With the final designs completed (100%), the Development Road project enters a crucial phase that paves the way for its transformation from a strategic plan to an executive reality. Nasser Al-Asadi, the PM’s Advisor for Transportation & Development Affairs, confirmed in an interview with Al-Sabah, which was followed by Al-Eqtisad News, that the project has officially moved to the marketing & int'l investment attraction phase, explaining that the completed designs are currently undergoing technical review before being launched. The Development Road is the largest economic project in the history of modern Iraq, as it aims to create a land-rail corridor extending from the Grand Faw Port to the Turkish border, passing through a number of governorates. Al-Asadi revealed that Iraq has received investment offers from several countries, including Turkey, the UAE, Qatar, and Oman, with growing interest from the Gulf states. He explained that the final route, agreed upon between Baghdad & Erbil, will pass through Dohuk & reach Fishkhabur, as it is the least expensive and easiest to construct, according to studies by an int'l consultant. The project aims to reduce trade time between Asia & Europe to 15 days. Al-Asadi also indicated that the expected revenues, whether from current or future investments, are estimated at billions of Dollars, with financial & economic studies to be announced soon. He emphasized that the project will provide numerous job opportunities & form a cornerstone for strengthening the nat'l economy. Launch Of The "Ameen" Digital Platform To Combat Cybercrime & Extortion In Iraq. ARTICLE: The National Security Service announced on Thursday the launch of a new digital platform called "Amin" aimed at combating cybercrimes & the increasing cases of extortion within Iraqi society. The agency's spokesman, Arshad al-Hakim, said at a press conference that "with the expansion of the communication environment & the growth of cyber threats, the agency realized that the confrontation is not only in the field, but also includes content & blackmail." The governor added that the new application was developed in response to citizens' requests for protection against blackmail, explaining that the "Amin" platform allows for direct & secure handling of blackmail-related images and videos, without the need for complex procedures. The application also provides users with immediate notification when necessary. The spokesperson noted that the registration & operation mechanism was designed by the Electronic Operations Unit within the National Security Service, to ensure speed & efficiency in dealing with emergencies & to protect citizens’ digital rights. The launch of the “Ameen” platform comes as part of the agency’s efforts to enhance cybersecurity & protect society from growing digital crimes, which contributes to raising the level of trust between citizens & security agencies.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: An Economist Says The Delay In The 2026 Budget Is Restricting Spending & Limiting Funding For Investment Projects. ARTICLE: Economic expert, Salah Nouri, warned that the delay in approving the 2026 Budget will restrict spending & limit funding for investment projects. Nouri told Al-Furat News Agency that: “Law No. 6 of 2019 concerning financial management, in Chapter Three, Article 11, stipulates that the Council of Ministers must submit the draft Federal General Budget Law to the House of Representatives before the middle of October of each year, which the Council of Ministers has exceeded for the current year with regard to the 2026 Budget.” He pointed out that “Article 13 of the law stipulates first that in the event that the approval of the General Budget is delayed until December 31 of the year preceding the year in which the Budget was prepared,” adding, “the Minister of Finance shall issue a circular authorizing the disbursement of 2/12 of the total actual expenditures for current expenses of the previous year after excluding non-recurring expenses & this disbursement shall continue on a monthly basis until the Budget is approved.” Nouri added, “The 2nd paragraph of the same article stipulates that spending from the total annual allocation for ongoing investment projects, whose allocations were included during the previous & subsequent years, shall be in accordance with the actual completion rates or actual preparation of each project. This means that the delay in the Budget limits the government’s ability to fully finance the projects & restricts the movement of investment spending until the Budget & its financial instructions are issued.” Dollar Prices Recorded A Slight Increase In Baghdad. ARTICLE: The price of the USD rose slightly this morning, Tuesday, in the Al-Kifah and Al-Harithiya exchanges in Baghdad, reaching 143,000 Iraqi Dinars per 100 USD, compared to 142,950 Dinars yesterday, Tuesday. In local currency exchange shops in Baghdad's markets, the selling price was 143,500 Dinars per 100 USD, while the buying price was 142,500 Dinars per 100 USD. Gold Prices Rose Slightly In Global Markets. ARTICLE: Gold prices rose slightly on Wednesday as investors prepared to analyze Federal Reserve Chairman Jerome Powell's guidance on the day the central bank is expected to cut interest rates, while silver continued its record-breaking run above $60 an ounce. Spot gold rose 0.2% to $4,215.61 an ounce by 03:09 GMT, while U.S. gold futures for February delivery also rose 0.2% to $4,244.70 an ounce. Spot silver climbed 0.6% to $61.06 an ounce, after hitting an all-time high of $61.46 earlier in the session. This surge extended Tuesday's performance, which saw it surpass the $60 mark, driven by declining inventories and strong industrial demand. Brian Lan, managing director of GoldSilver Central, said: “What we’re seeing in the spot gold market isn’t a big change; it’s still range-bound, and people are just looking at the Fed’s interest rate decision tonight and whether there will be any further news (regarding the path of monetary policy).” The two-day meeting of the Federal Open Market Committee (FOMC) concludes with an interest rate decision at 7:00 PM GMT on Wednesday, followed by a press conference with Powell at 7:30 PM GMT. Investors are currently pricing in an 88.6% probability of a 25-basis-point rate cut. Kevin Hassett, the White House economic adviser and a leading candidate to head the Federal Reserve, said on Tuesday that there is “ample scope” for further rate cuts, but noted that rising inflation could alter those expectations. Silver prices have been supported by declining global inventories, rising demand, expectations of Fed rate easing, and its recent inclusion on the list of vital U.S. metals. Platinum fell 1.2% to $1,669.70, while palladium declined 0.2% to $1,503.26. Basra Crude Oil Prices Fell By More Than 2% Despite Global Oil Market Stability. ARTICLE: Basra crude oil prices, both heavy and medium, declined despite the stability of global oil prices. Basra Heavy crude fell by $1.62, or 2.69%, to $58.60, while Basra Medium crude dropped by $1.52, or 2.45%, to $60.45. Oil prices stabilized after falling by about 1% in the previous session, as concerns about oversupply limited gains and investors awaited progress in peace talks between Russia and Ukraine.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. No Change In The ER & The Iraqi Economy Is Stable. Treat as rumors. Not verified. Your opine. Despite Fluctuating Dollar ER, Gold Prices In Baghdad Remain Stable. ARTICLE: Gold prices, both foreign& Iraqi, remained stable in Baghdad's local markets. This morning, wholesale gold prices in Baghdad's Al-Nahr Street market showed a selling price of 847,000 Iraqi Dinars per mithqal (approximately 4.5 grams) of 21-karat gold from the Gulf, Turkey & Europe at 847,000 Dinars & a buying price of 843,000 Dinars – the same prices as yesterday. The selling price of 817,000 Dinars per mithqal of 21-karat Iraqi gold was 813,000 Dinars, while the buying price was 813,000 Dinars. As for gold prices in jewelry shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 850,000 & 860,000 Dinars, while the selling price of a mithqal of Iraqi gold ranged between 820,000 & 830,000 Dinars. Saleh's Statement: No Change In The ER & The Iraqi Economy Is Stable. ARTICLE: The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Saturday that the official exchange rate is fixed at 1320 dinars and that the recent fluctuations have no significant impact, while indicating that the Iraqi economy is stable and inflation has declined to 2.5%. Saleh said in a press statement followed by Al-Furat News that “what happened in the parallel exchange market during the past few days is nothing more than an emergency & temporary fluctuation resulting from inaccurate information effects known in economic analysis as “color noise,” which is confused information that is mostly based on rumors & leads to uncertain behavior & short-term speculation in the unregulated money market.” He added that "transitional periods usually witness such price movements, especially as the country continues in the post-legislative election phase & in parallel with the implementation of the customs governance system & its digital procedures in accordance with int'l standards, including customs tracking systems & modern digital applications that enhance transparency & discipline in the commercial & financial environment together." Saleh explained that “the aforementioned fluctuation in the price of the Dollar against the Dinar in the parallel market has not left a substantial impact on the stability of the general price level, as monetary policy continues to achieve its operational & intermediate goals in stabilizing prices in general & maintaining the stability of the official ER in particular, a path that is reflected in the decrease in the annual inflation growth rate to normal fractional levels not exceeding 2.5% annually.” He pointed out that “the policy of fixed exchange rate is an adopted policy based on fundamental principles, foremost among them the efficiency of foreign reserves supporting the stability of the official ER of 1320 Dinars per Dollar. It is also noted that int'l institutions, foremost among them the WB & other multilateral global financing institutions, view with satisfaction the government’s reform steps in the banking sector & the general financial and economic sector, which encourage the investment environment, especially the trend towards strengthening the partnership between the state & the private sector, all of which are among the basic pillars for building a diversified economy that supports the paths of sustainable development identified by the methodology of Iraq Vision 2050.” Government Advisor: Recent Fluctuations In The Parallel Market Are "Temporary" & Do Not Affect The Iraqi Economy. ARTICLE: The Prime Minister's financial advisor, Mazhar Muhammad Salih, affirmed that the official exchange rate of 1,320 dinars is fixed and stable, indicating that the recent fluctuations in the parallel market are "temporary" and do not have a substantial impact on the economy. Salih stated in a press release that what occurred in the exchange market over the past few days represents a "temporary fluctuation" resulting from inaccurate information, which he described as a kind of "colorful noise" based on rumors, driving short-term speculative behavior within the unregulated market. He added that transitional periods—especially in the post-parliamentary election phase—typically witness such movements, noting that the implementation of digital customs governance systems & int'l standards for tracking & inspection played a role in triggering temporary market reactions. He clarified that this fluctuation has not been reflected in the general price level, as monetary policy continues to achieve its objectives in stabilizing prices, which has contributed to a decline in the annual inflation rate to approximately 2.5%, a level considered normal. Saleh pointed out that the stability of the ER is a well-established policy based on strong foreign reserves that support its stability, explaining that int'l institutions - foremost among them the WB - are following positively the government's reform steps in the banking & financial sectors, in addition to the trends of strengthening the partnership between the state and the private sector, which are among the basic pillars of the path of sustainable development within Iraq's Vision 2050. The Dollar Remains Stable In Baghdad At The Close Of The Stock Exchange. ARTICLE: The Dollar ER against the Iraqi Dinar remained stable in Baghdad markets as the stock exchange closed this evening. Selling price: 143,750 Dinars per 100 Dollars . Buying price: 141,750 Dinars per 100 Dollars.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. The Size Of Oil & Non-Oil Revenues & The Financial Deficit In Iraq. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: In Numbers: An Expert Reveals The Size Of Oil & Non-Oil Revenues & The Financial Deficit In Iraq. ARTICLE: Economic expert Haider Al-Sheikh revealed on Sunday (November 30, 2025) the latest figures related to oil & non-oil revenues, in addition to the size of the financial deficit that Iraq is facing during the current year. The sheikh said in a press statement that oil export revenues during the past ten months amounted to 89 trillion Dinars & are expected to rise to 105 trillion Dinars by the end of the year. He added that "non-oil revenues will reach 13 trillion Dinars by the end of the year." The sheikh explained that “approximately 80 trillion Dinars of the total annual revenues are spent on the salaries of employees & retirees & the social protection network, while the remainder goes to the state’s general expenditures.” He pointed to "a financial deficit estimated at 30 trillion Dinars," attributing this to "the size of current spending & the government's inability to disburse the dues & requirements of a number of ministries, most notably the Ministry of Health, due to the budget schedules not being approved yet." For years, the Iraqi economy has been heavily reliant on oil revenues, which constitute more than 90% of the country's resources, making public finances highly vulnerable to fluctuations in global oil prices. Although the government has announced plans in recent years to increase non-oil revenues, their contribution remains limited & insufficient to meet the growing needs of public spending. The budget also depends on the salaries & social transfers section, which represents the largest expenditure item, while the service ministries suffer from a lack of funding & continued delays in disbursing their dues due to the failure to approve the detailed Budget Schedules. Iraq Is The 3rd Largest Supplier Of Oil To America Last Week. ARTICLE: Iraq ranked 3rd among the top oil exporters to the US last week, marking a significant increase, according to figures released Sunday by the U.S. Energy Information Administration (EIA). The EIA reported that "U.S. crude oil imports averaged 5.692 million barrels per day (bpd) last week from eight major countries, up 335,000 bpd from the previous week's 5.337 million bpd." The report added that "Iraq's oil exports to the U.S. averaged 378,000 bpd, up 286,000 bpd from the previous week's 92,000 bpd, placing it 3rd among oil exporters to the US." The EIA also noted that "the largest share of U.S. oil imports last week came from Canada, followed by Mexico, Colombia & Brazil." According to the table, "US crude oil imports continued from Nigeria, Saudi Arabia & Venezuela, while no imports came from Ecuador or Libya last week." The CBI Determines The Size Of Iraq's Internal & External Debts. ARTICLE: The CBI confirmed that Iraq’s debts are to cover the operational deficit & do not pose a direct threat to the economy. CBI spokesman Alaa Al-Fahd told the official newspaper that "all countries, including the US, have internal & external debts," explaining that debts are not considered negative for the economy if they are directed towards investment spending, because they generate additional income. He continued, "The debts in Iraq are to cover the deficit in the Operational Budget, meaning they are directed towards consumption & therefore they are a future constraint for paying the debt, its installments & interest." Al-Fahd identified three ways to address the country's debt, most notably diversifying non-oil revenues, increasing investments & partnering with the private sector, which could reduce dependence on oil, while acknowledging the difficulty of achieving the latter option in a short period of time. He explained that the external debt amounts to $13 billion, while the internal debt amounts to 91 trillion Dinars, noting that a large part of it can be dealt with because the banks are government-owned & state-owned, ruling out that these debts pose any danger to the economic reality, but continuing to rely on debt constitutes a warning bell. Government Direction To Enhance Digital Transformation & Improve The Efficiency Of Official Transactions. ARTICLE: The General Secretariat of the Council of Ministers directed on Sunday that government mail services continue to operate in support of the digital transformation process. The Secretariat stated in a statement received by “Al-Eqtisad News” that “the Administrative & Financial Department in the General Secretariat of the Council of Ministers has directed all ministries, non-ministerial entities & governorates to continue official correspondence within the government mail system instead of paper procedures, in line with the government’s direction towards digital transformation.” She added that "this directive came within the framework of the efforts overseen by the Secretary-General of the Council of Ministers, aimed at promoting digital transformation as an approved course of & action in state institutions, as well as simplifying administrative procedures, raising the efficiency of completing transactions & creating a more effective work environment that is characterized by transparency & accuracy in data handling & archiving, which contributes to improving the quality of services provided to citizens."

Here's some articles of Dinarian interests... On The Verge Of A New Phase Of Growth & Prosperity. Treat as rumors. Not verified. Your opine. TNT via Tishwash: The Financial Reform Package Supports Domestic Investment & Stimulates The Economy. ARTICLE: With a focus on reducing the deficit & increasing non-oil revenues, local investment in Iraq appears to be on the verge of a new phase of growth & prosperity, but the question remains about the sustainability of these policies. The PM's economic advisor, Mazhar Muhammad Salih, affirmed that the Iraqi government is pursuing a disciplined fiscal policy that relies on sound management of the deficit & rationalization of public spending, which has strengthened the confidence of the private sector & reduced the level of uncertainty that was one of the most prominent obstacles to local investment. Saleh said , “The impact of fiscal policy on the volume of local investments varies according to the nature of the sectors. While the energy sectors, especially oil, gas & renewable energies, have the largest share of investment flows due to their attractiveness & profitability, recent years have witnessed a clear shift towards investment in the construction & pharmaceutical industries, as local & foreign investors have begun to pay attention to the growing opportunities in these sectors.” He added that “the impact of fiscal policy is varied; it is positive on large investment projects through relative financial stability, but it is more influential & effective with regard to small & medium-sized enterprises, as a joint incentive & financing approach has been adopted between fiscal & monetary policy.” Establishment Of Riyada Bank: Saleh pointed out that “the most prominent tools of this approach is the establishment of Riyada Bank as a mixed bank specializing in financing small & medium projects with the aim of mobilizing nearly sixty percent of the unemployed workforce through long-term, easy loans, as it is being established with the contribution of private Iraqi banks & with the direct supervision & support of the CBI.” He then continued, “In addition to cooperation with specialized int'l organizations, there were also extensive initiatives to provide loans to young people & support individual & group projects under the direct supervision of the PM within the Youth Initiative.” Saleh explained that “the success of fiscal policy in reducing the deficit depends on achieving a delicate balance between sustaining macroeconomic stability & providing space for growth & investment. A disciplinary policy without a developmental vision may curb economic activity, while uncontrolled expansionary spending leads to a deepening of the deficit gap.” Increase In Non-Oil Revenues: “Based on this, financial reform programs work to increase non-oil revenues by expanding customs & tax collection, modernizing legislation & enhancing public financial digitization to reduce leakage & waste, raise collection efficiency, improve the business environment to encourage the private sector to expand & invest & raise the efficiency of public spending by adopting performance evaluation standards & linking projects to economic feasibility,” he added. Saleh concluded his statement by emphasizing that “the success of the current fiscal policy is based on combining fiscal discipline to ensure macroeconomic stability & developmental stimulus to expand the production base & encourage local investment. Digitalization, improving non-oil revenues & enhancing private sector confidence are key pillars for strengthening public finances & achieving more sustainable economic growth in the short, medium & long term.” Tishwash: Iraq Seeks To Expand Its Global Economic Influence. The Ministry of Trade announced its plans to bring nat'l products to global markets, stressing that “Iraqi industries have reached an advanced level.” The ministry stated that it “is working to support the Iraqi private sector participating in int'l exhibitions & showcasing Iraqi products in the food industrial & commercial sectors & to enhance the role of the General Company for Iraqi Exhibitions & the Export Support Fund.” She explained: “The achievements of Iraqi industry have reached an advanced level & have established significant pillars in supporting the export of industrial projects & introducing Iraqi materials into global & Iraqi markets.” Tishwash: Government Advisor: Digitalization & Increasing Non-Oil Revenues Are Fundamental To Financial Reform. The economic advisor to the PM, Mazhar Muhammad Saleh, confirmed that the Iraqi government is following a disciplined financial policy that relies on sound management of the deficit & rationalization of public spending, which has strengthened the confidence of the private sector & reduced the level of uncertainty that was one of the most prominent obstacles to local investment. Saleh told Al-Furat News that: “The impact of fiscal policy on the volume of local investments varies according to the nature of the sectors. While the energy sectors, especially oil, gas & renewable energies, have the largest share of investment flows due to their attractiveness & profitability, recent years have witnessed a clear shift towards investment in the construction & pharmaceutical industries, as local and foreign investors have begun to pay attention to the growing opportunities in these sectors.” He added, "The impact of fiscal policy is varied; it is positive for large investment projects through relative financial stability, but it is more influential & effective with regard to small & medium-sized enterprises, as a joint incentive & financing approach has been adopted between fiscal & monetary policy." Saleh pointed out that "the most prominent tools of this approach is the establishment of Riyada Bank as a mixed bank specializing in financing small & medium projects with the aim of mobilizing nearly sixty percent of the unemployed workforce through long-term, easy loans, as it is being established with the contribution of private Iraqi banks & with the direct supervision & support of the CBI." He continued, "In addition to cooperation with specialized int'l organizations, this was accompanied by extensive initiatives to provide loans to young people & support individual & group projects under the direct supervision of the PM within the Youth Initiative." Saleh explained that “the success of fiscal policy in reducing the deficit depends on achieving a delicate balance between sustaining macroeconomic stability & providing space for growth and investment. A disciplinary policy without a developmental vision may curb economic activity, while uncontrolled expansionary spending leads to a deepening of the deficit gap.” He added, "Based on this, financial reform programs work to increase non-oil revenues by expanding customs & tax collection, modernizing legislation & enhancing public financial digitization to reduce leakage & waste, raise collection efficiency, improve the business environment to encourage the private sector to expand & invest & raise the efficiency of public spending by adopting performance evaluation standards & linking projects to economic feasibility." Saleh concluded his statement by emphasizing that “the success of the current fiscal policy is based on combining fiscal discipline to ensure macroeconomic stability & developmental stimulus to expand the production base & encourage local investment. Digitalization, improving non-oil revenues & enhancing private sector confidence are key pillars for strengthening public finances & achieving more sustainable economic growth in the short, medium & long term.”

Iraq Weekly Business-Economic Report... Direct From The SANDBOX Report.Iraq Is Moving Towards An American Company To Develop The Hamrin Oil Field. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Trump's Envoy: We Are Closely Monitoring The Process Of Forming The New Government. ARTICLE: Mark Savaya, US President Donald Trump's envoy, confirmed on Friday that Washington is "carefully monitoring" the process of forming the new Iraqi government. Mark said in a tweet on the X platform, which was followed by Al-Furat News: "I look forward to visiting Iraq soon & meeting with key leaders." He added that "Iraq has made great progress over the past 3 years, and we hope that this progress will continue in the coming months." Iraq Is Moving Towards An American Company To Develop The Hamrin Oil Field. ARTICLE: The state-owned North Oil Company announced that it held a meeting with the American company HKN Energy at its HQ in Kirkuk Governorate, as part of the government's efforts to develop oil fields & strengthen international partnerships in the energy sector. The Director General of the North Oil Company, Amer Khalil Ahmed, said in a statement received by “Al-Eqtisad News” that the meeting with the American company delegation came to finalize the technical vision regarding the Hamrin oil field development project, noting that the final version of the development file, which the Ministry of Oil is working on in cooperation with specialized int'l companies, has been reached. He added that the meeting comes in implementation of the directives of the Deputy PM for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani Al-Sawad, regarding the need to accelerate the technical & administrative steps related to developing the fields & increasing production, stressing that the ministry is directly following up on this file because of its strategic importance in enhancing the country’s production capacity. The general manager explained that HKN is one of the companies that has a memorandum of understanding & a memorandum of principles (HoA) with Iraq, which paves the way for concluding a comprehensive development contract during the next period, after completing the technical conditions specific to the project. HKN American Company: In a press release following the meeting, HKN Energy said the partnership with North Oil "represents an important step within the company's strategy to develop Iraqi fields according to the latest technologies adopted in the oil sector." The statement confirmed that HKN is currently working with technical teams from North Oil and the Ministry of Oil to complete the necessary technical and logistical procedures to begin development operations, noting that the coming period will witness “the activation of serious field steps at the level of geological studies, infrastructure development & preparation of drilling sites.” The company also expressed its commitment to "supporting the Iraqi government's plans to develop the oil sector & invest in associated gas in northern Iraq," stressing that the Hamrin field project will be one of the pivotal projects in this regard. Production At The Hamrin Field Is Scalable: In a specialized comment, oil expert Ali Khalil said that the Hamrin oil field is "one of the important fields in northern Iraq & has recoverable reserves ranging from 1.5 to 2 billion barrels according to the technical estimates circulating." The expert explained that the field's current production ranges between 20,000 & 25,000 barrels per day, a production that is "significantly capable of being increased" after the completion of the planned development operations. He explained that the plan developed with HKN aims to raise production to 50-60 thousand barrels per day during the coming years, which will directly reflect on increasing oil revenues & supporting the nat'l energy network. Khalil pointed out that one of the most important aspects expected in this project is the investment in associated gas, as studies indicate the possibility of producing between 45 & 50 million cubic feet per day of gas, which can be invested in generating electricity & reducing gas flaring in the region. He stressed that developing the field will contribute to "revitalizing the local economy in Kirkuk & Salah al-Din, creating job opportunities for young people & improving the oil infrastructure in the region." Iraq's Oil Exports Exceeded 110 Million Barrels In October. ARTICLE: Statistics on oil exports from the Iraqi Oil Marketing Company (SOMO) for the month of October showed that more than 110 million barrels of oil were loaded through the ports of Basra and Ceyhan, Turkey, including 5 million barrels of oil from the Kurdistan Region, with a daily average of 188,000 barrels. According to statistics published by the Iraqi Oil Marketing Company (SOMO), last October saw the loading of 110,650,970 barrels of exported oil by ships at the ports of Basra and Ceyhan, Turkey, which is approximately 3.6 million barrels per day. Of these, 66,078,192 barrels were light oil exported through Basra ports, and 38,737,914 barrels were heavy oil loaded from the same port. An official source at the North Oil Company stated in a press release that “this statistic pertains to the quantity of exported oil loaded by ships, after being stored in warehouses at the ports of Basra & Ceyhan, Turkey.” According to the statistics, out of the total amount of oil in October, the amount of Kurdistan Region oil loaded at the Turkish port of Ceyhan amounted to 5 million, 834 thousand, 864 barrels, which were loaded over 8 days. Oil exports from the Kurdistan Region via the Turkish port of Ceyhan resumed on September 27, 2025, after having stopped at the end of March 2023. The statistics stated that the average amount of oil loaded from the Kurdistan Region in October was 188,200 barrels per day. Quantity Of Kurdistan Region Oil Loaded At Ceyhan Port: -2025-10-3: 647010 barrels. -2025-10-6: 331024 barrels. -2025-10-9: 1031445 barrels. -2025-10-13: 601823 barrels. -2025-10-16: 587398 barrels. -2025-10-20: 1027119 barrels. -2025-10-24: 608680 barrels. -2025-10-30: 1000365 barrels. Ports Authority Announces Full Completion Of The New Navigation Channel At The Grand Faw Port. ARTICLE: The Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, announced the complete completion of dredging work on the new navigation channel, one of five infrastructure projects belonging to the Grand Faw Port. Al-Fartousi stated in a press release: "The channel is 100% complete, with a final depth of 19 meters. It extends for 23 kilometers with a width of 200 meters and forms a vital part of the Khor Abdullah waterway." He added: "The procedures for approving & confirming these depths with the UK Hydrographic Office (UKHO) are currently underway, following the completion of a field survey of the navigation channel by a 3rd party." It is worth noting that the project is part of the government's plans to enhance the capabilities of Iraqi ports & facilitate the movement of large vessels, contributing to increased trade & logistical efficiency, especially with the imminent operation of the Grand Faw Port. Gold Is Declining And Heading For A Weekly Drop. ARTICLE: Gold prices fell & are on track for a weekly decline after a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve will not cut interest rates at its December meeting. Spot gold fell 0.2 percent to $4,062.79 per ounce by 01:57 GMT. The precious metal is down 0.3 percent so far this week. US gold futures for December delivery rose 0.2 percent to $4,068.10 per ounce, according to Reuters. A US Labor Department report, delayed due to the federal government shutdown, showed that non-farm payrolls increased by 119,000 jobs in September, more than double the expected increase of 50,000. Traders now expect the US central bank to cut interest rates next month with a probability of about 39 percent, down from a 60 percent forecast earlier this month. Gold, which does not yield interest, typically tends to rise in low interest rate environments. The Dollar Is On Track For Its Strongest Weekly Performance In Over A Month On Friday. ARTICLE: A stronger Dollar makes gold, which is priced in Dollars, more expensive for holders of other currencies. Among other precious metals, spot silver fell 0.4 percent to $50.39 an ounce, platinum rose 0.4 percent to $1,517.95, & palladium gained 0.3 percent to $1,381.22. Oil Prices Fell For The Third Consecutive Session. ARTICLE: Oil prices continued their decline for the 3rd consecutive session as the US pressed for a peace agreement between Russia & Ukraine that would allow for increased oil supplies in the global market, while uncertainty surrounding a potential US interest rate cut dampened investor appetite for risk. Brent crude futures fell 71 cents, or 1.12 percent, to $62.67 a barrel by 0212 GMT, after declining 0.2 percent in the previous session. US West Texas Intermediate crude futures were at $58.29 a barrel, down 71 cents, or 1.20 percent, after closing 0.5 percent lower on Thursday, according to Reuters. Both benchmarks are on track to fall more than 2 percent this week due to concerns about increased supply. Washington is pushing for a peace plan between Ukraine & Russia to end the three-year war, even as sanctions against Russian oil companies Rosneft & Lukoil are set to take effect on Friday. Lukoil has until December 13 to sell its massive int'l portfolio. “With Ukraine not yet formally rejecting the agreement, the slim chance of a deal is weighing on prices, as it would eliminate much of the geopolitical risk premium for war that has been added to the price of crude,” said Tony Sycamore, market analyst at IG, in a note. A stronger Dollar has also weighed on oil prices because it makes the commodity more expensive for holders of other currencies. The Dollar is on track for its best weekly performance in more than a month on Friday as investors bet that the Federal Reserve is unlikely to cut interest rates next month. In Numbers... Planning Ministry Reveals The Size Of Private Sector Investments In The 5-Year Plan. ARTICLE: The Ministry of Planning confirmed that the volume of private sector investments within the 5-year plan will reach 84 trillion Dinars. According to the official news agency, the Ministry of Planning spokesperson, Abdul Zahra al-Hindawi, stated that "Iraq has previously launched its Sustainable Development Vision 2030, which takes into account the fundamental Sustainable Development Goals agreed upon by the int'l community & reflects them in policies, programs & development plans according to their phases. "He pointed out that "the 2024-2028 five-year development plan covers almost the remaining period of Iraq's Sustainable Development Vision 2030 & includes goals related to health, education, poverty reduction, youth empowerment, partnerships, housing & other 17 goals that are directly relevant to the Iraqi context." He added, "These goals are translated into policies according to the 5-year development plan & other strategies." He pointed out that "Iraq is now preparing to launch its 3rd nat'l poverty reduction strategy, which will cover the remaining 5 years of Iraq's Sustainable Development Vision 2026–2030. This strategy will address poverty in its various dimensions, focusing on empowering & supporting the poor in areas such as health, housing, education, living standards & employment." He noted that "a special fund has been established to support the poorest areas, aligning with the Sustainable Development Goals & reflecting these developments through programs and policies." He explained that "civil society was a partner in the preparation of the 2024–2028 5-year development plan. At all stages of preparation, civil society was represented through the presence of active civil society organizations. They were our partners in the preparation phases & their continued partnership after preparation & launch involves monitoring & oversight to ensure the plan progresses according to its established paths & objectives." Al-Hindawi explained that "the private sector is a partner in all stages of preparing & implementing the 5-year development plan & it has been given a significant role in the Iraqi investment landscape as defined by the plan. "He added that "the private sector's contribution to the overall investment program is 35 percent, compared to 65 percent for the public sector, representing approximately 84 trillion Dinars in investments to be undertaken by the private sector." Al-Hindawi pointed out that "strengthening the role of the private sector in development, project implementation & economic policy formulation came about through the establishment of the Permanent Council for Private Sector Development, chaired by the PM with representatives from all economic activities & sectors within the private sector as members. "He emphasized that "this represents an important step towards achieving a genuine partnership between the public & private sectors to support the private sector & enable it to play its developmental role effectively & robustly."

Here's an article of Dinarian interests... The Pulse Of The Iraq Economy. Treat as a rumor. Not verified. Your opine. TNT via Tishwash: Learn About The "Secret Operations Room" That Monitors The Pulse Of The Iraqi Economy & Protects The Dinar From Fluctuations. ARTICLE: While the domestic debate continues regarding the ER & the future of the dinar, the CBI's recent statement on the tasks of its Investment Department has revealed another dimension to the monetary landscape—one that is deeper, less visible, yet highly influential. This department, which manages foreign reserves & balances global market risks, is now described by economists as the "silent backbone" of the Iraqi economy, alongside oil & the foundation upon which the most significant financial transformations underway in the country are taking place. Economic expert Nasser al-Tamimi confirmed to Baghdad Today that the department has transformed in recent years from a traditional bureaucratic unit into a true center of gravity, preserving the stability of public finances & defining the CBI's room for maneuver in the foreign exchange market. He told Baghdad Today that the prudent management of foreign assets—from government bonds to gold, deposits & low-risk instruments—has enabled Iraq to weather the waves of global market turmoil & mitigated the impact on the Dinar & the country's financial balance. The CBI's technical statement, while employing specialized language regarding balances, transfers investment plans, nonetheless attracted the attention of int'l experts who analyzed its implicit messages. Bankers point out that the CBI's e&xplicit declaration that the department's activities aim to stabilize the ER does not necessarily mean an immediate appreciation of the Dinar. However, it is a strong indication that preparations for a stable monetary reform have effectively begun. These experts believe the CBI is waiting for the "safest moment" to take any significant steps, given the extreme sensitivity of the Iraqi market. Any adjustment to the ER system—whether an appreciation or a restructuring—requires a robust structure capable of absorbing shocks. At the heart of this shift, two phrases in the CBI's statement caught the attention of experts: "operational continuity" & "risks associated with oil revenue currencies." These are phrases typically used in int'l contexts related to deep monetary reforms & preparing for potential fluctuations that may accompany opening up to global markets. Specialists interpret this as part of restructuring Iraq's financial sector infrastructure in line with IMF recommendations, the requirements for joining the WTO & gradual integration into the global financial system. However, the most sensitive transformation is not limited to the investment sector alone, but encompasses an entire system being developed in parallel. Starting Saturday (November 22), all cross-border payments in Iraq will transition to the ISO 20022 standard, the system adopted by the most advanced economies. Furthermore, all banks in Iraq have been mandated to finalize their capital plans according to the ICAAP model & undergo rigorous stress tests to demonstrate their ability to withstand ER fluctuations of up to 30%, a collapse in oil prices, or a sudden run on deposits, while maintaining their solvency. Economists believe these two steps are not merely technical updates, but rather represent—quite literally—the final two key conditions that the IMF, the UST, the BIS, major correspondent banks in New York & London stipulated must be met before Iraq could fully participate in the int'l foreign exchange market. They emphasize that the fundamental problem with the dinar today is not its market value, but rather that Iraq remains "blocked" from the global exchange market & that adopting Basel III-ICAAP & ISO 20022 standards is what will pave the way for gradually lifting this blockade. Analyses indicate that the Iraqi Dinar remains trapped in a restricted market, unable to be traded in large quantities except through the daily Dollar auction. Furthermore, prior to adhering to the new standards, local banks appeared structurally unstable to int'l banks & their payment channels relied on outdated SWIFT systems dating back three decades, placing them under suspicion of money laundering. Now, with banks required to disclose their actual capacity to absorb shocks, the pretext that prevented major int'l dealers from dealing directly in Dinars is diminishing. In this context, experts believe that Iraq is nearing the end of the "forced peg" of its ER, which effectively began in October 2021 when it was announced that "the rate will remain fixed until 2025." With this date approaching & the technical requirements for monetary reform being finalized, some believe that Iraq may be entering a new phase that might not be a direct revaluation of the Dinar, but which will at least pave the way for a more stable & transparent exchange market. Al-Tamimi concludes by saying, “Oil provides the funds, but it is the investment department that ensures those funds are not lost to market fluctuations.” He adds that the next phase may witness an expansion of the department’s role in regulating monetary policy & that the strength of reserves & the stability of the banking sector will be the most decisive factors in the future of the Dinar.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Treat as Rumors. Not verified. Your opine. FROM IRAQI SOURCES: Regulating The Informal Economy. ARTICLE: The informal economy or what some call the “shadow economy,” is of great importance, even if it is not readily apparent, because the picture of this economy is not accurately documented. If we were to delve into the informal economy in Iraq,we would discover its profound influence on the nat'l economy. Estimates suggest it accounts for nearly 60% of total economic activity, making it a significant driver of development. Even minimal regulation of this sector would lead to a tangible transformation in the Iraqi economy, impacting employment, revenue & social development. Some might ask: What Will Change If This Economy Is Formalized? Job opportunities will remain the same, and the sectors of activity won't differ much from the formal economy. However, the truth is that formalization—if implemented correctly— will lead to a qualitative shift in the economic & social landscape. Informal workers will feel more secure & stable because they will be under the state's care & legal protection. The regulations will also allow for the integration of hundreds of small businesses, home-based activities & unlicensed workshops into the formal sector, ensuring improved working conditions & reduced economic vulnerability. The reality of Iraq's informal economy encompasses thousands of small businesses operating from homes or workshops hidden from public view, as well as seasonal workers, construction workers & street vendors who face significant economic hardship. Their unregulated presence sometimes leads to service & security problems, such as traffic congestion, difficulty accessing fire trucks, illegal connections to the electricity grid, & other daily issues. From an economic perspective, the lack of regulation makes it difficult to accurately measure the volume of cash transactions or determine the number of workers, resulting in the state losing a significant portion of potential tax revenue & complicating economic planning. Regulating the informal economy under the new laws will provide a genuine guarantee for millions of families living within its confines. It will also contribute to building an accurate database to support government decisions in the areas of employment & social development. We can learn valuable lessons from the experiences of many countries that have successfully transformed their shadow economies into organized & effective sectors by providing a safe & secure environment. For those working in it. Hence, the first step towards the desired organization can be through managing & organizing the work of street vendors, as they are the most obvious manifestation of the informal economy, by establishing modern commercial complexes or allocating specific places for them to conduct their business & providing facilities & small loans that help them develop their businesses. It is also necessary to include seasonal workers and construction workers in the social security system & labor law, which promotes social justice & improves living conditions. In return, those working in the informal economy should be reassured that the government’s goal in the organization process is not to impose taxes but rather to achieve economic & social stability & ensure the sustainability of their activities within a formal, transparent & stable environment. Economists: The "Fingerprint" Initiative Is Driving Small Business Development. ARTICLE: As part of a government policy aimed at broadening economic participation & boosting growth, PM Mohammed Shia'a al-Sudani launched the "Basma" initiative, a nat'l program focused on empowering women & granting them greater access to the labor market. This will be achieved by providing funding, training & technical support to women-led small & medium-sized enterprises (SMEs). This step is part of a package of economic initiatives the government has begun implementing to develop the private sector & improve the business environment. Economic expert Asaad Al-Rubaie explained that the “Basma” initiative came as a complement to a series of previous government initiatives,including the National Fund for Supporting Small & Medium Enterprises the lending program launched by the CBI in cooperation with private banks as well as reconstruction & development programs supported by the International Fund for Agricultural Development & the programs of the Ministries of Youth & Labor. Al-Rubaie pointed out that the initiative was distinguished by its exclusive focus on women, under the supervision of the Supreme Council for Women & with direct follow-up from the PM, in an attempt to address the weak participation of women in the private sector as a result of social customs & traditional environments that have limited their entry into fields of work dominated by men. He added that “Basma” has given women opportunities to launch productive projects that are appropriate to the nature of their work & interests, including food industries, design, sewing, agriculture,& nursery management, which are sectors capable of creating new job opportunities & reducing unemployment rates. Al-Rubaie pointed out that the initiative contributed to strengthening the free market economy & supporting women-led households by opening new income streams & achieving financial independence, which positively impacts family & social stability. However, he explained that the initiative's success remained contingent on engaging private sector experts to provide technical & managerial expertise that ensured the sustainability of the projects. He emphasized that the absence of such expertise was a major reason for the limited success of previous initiatives, despite ample government support. The Sudanese Prime Minister emphasized that "Basma" was not conceived merely as a financing project, but as a comprehensive nat'l program aimed at empowering women through extensive partnerships with nat'l banks. He explained that the program provided accessible loans, training platforms, consulting services & technical support, thus creating a nat'l incubator for women's businesses. For his part, financial expert Dr. Nabil Rahim explained that “Basma” presented a different model by providing a comprehensive empowerment system that includes training, mentorship, planning & follow-up, making it more than just a funding platform. He described the initiative as having transformed “the tears of unemployed women into productive projects,” but stressed that its true success depended on the details of its implementation, particularly the loan terms & consideration for vulnerable groups such as widows & divorcees. Rahim explained that the previous “Riyada” experience,in which women comprised only 27 percent of beneficiaries,revealed unforeseen obstacles, such as procedural complexities, the difficulty of securing suitable funding for women-led projects, & the influence of traditional social norms. He argued that addressing these challenges was essential to ensuring the success of “Basma” & achieving tangible economic results. Rahim concluded by saying that the path to women’s economic empowerment is still long, but “Basma” was the first step in a broader nat'l strategy that invests in women as active partners in development, not as a category waiting for support.

Here's some articles of Dinarian interests... IMF Forecasts: Iraq Will Be The 4th Largest Arab Economy By 2030. Treat as rumors. Not verified. Your opine. KTFA via Clare: IMF Forecasts: Iraq Will Be The 4th Largest Arab Economy By 2030. ARTICLE: IMF data predicts that Iraq will rank 4th among the largest Arab economies by 2030. Saudi Arabia will top the list of the largest Arab economies by 2030, with a projected GDP of $1.6 trillion, cementing its position as the strongest economy in the region. The UAE came in 2nd place with approximately $765 billion, followed by Egypt in 3rd place with $590 billion, Iraq with $346 billion & Algeria with $309 billion. The next highest rankings were held by Qatar with $297 billion, Morocco with $252 billion & Kuwait with $190 billion. Oman followed with $133 billion, while Jordan rounded out the list with $74 billion. The data indicated that these estimates are based on GDP at current prices, with expectations of increasing economic growth in a number of Arab countries until the end of the current decade. The WB had previously predicted that Iraq would record the highest growth rate among Arab economies next year, at 6.7%, followed by Djibouti at 6.1% & then Qatar at 5.3%, despite reducing its growth estimate by 0.1 percentage points from its June forecast. The bank raised its growth estimates for Iraq by 2.3 percentage points, followed by Palestine by 1.1 percentage points, while Oman's growth forecast was reduced by 2.9 percentage points. The three largest Arab economies—Saudi Arabia, the UAE & Egypt—are expected to grow by 4.3%, 5%, and 4.3%, respectively, in 2026. Clare: The CBI Announces That Electronic Trading Has Increased To $60 Billion. ARTICLE: The CBI expects the volume of electronic payments to reach $60 billion by 2035, as part of a reform plan to gradually phase out paper cash transactions. "As part of its reform plan, the bank is pursuing electronic transformation & financial inclusion, given its significant role in reducing reliance on paper cash transactions, which has significantly reduced the use of cash. It has encouraged all individuals today to increase their transactions & shift to electronic payments, particularly for salaries & government departments," bank spokesman Alaa Al-Fahd said, according to the official newspaper. He added, "The bank is implementing a banking reform plan in cooperation with Oliver Wyman, which announced in its report a significant response from banks to the reform plan's implementation, expecting electronic payments to reach $60 billion by 2035." Al-Fahd explained that "electronic payments have significantly reduced the printing of banknotes due to electronic transactions," noting that "there is an idea to move towards digital electronic banks & the significant role they play in reducing reliance on paper money." He continued, "The development of electronic payments over the past three years has witnessed a qualitative leap & a very high growth rate, with the number of cards issued reaching more than 22 million, in addition to the import of more than 75,000 devices." He expected that "the future will bring even greater growth in the issue of electronic payments & transactions as an alternative to paper transactions."

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Iraqi Oil Prices Rise In Global Markets. Treat as rumors. Not verified. Your opine. MP: The Parallel Market Is Behind The Rise In The Dollar ER. ARTICLE: MP Moeen Al-Kadhimi confirmed that the rise in the dollar exchange rate is mainly due to the trend of most traders toward the parallel market (black market) to purchase hard currency to finance import operations. Al-Kadhimi said, "Most traders resort to the parallel market to obtain dollars," indicating that "this trend has led to an increase in demand for the dollar on the black market, which has caused a significant rise in the exchange rate." He added, "The solution requires the Central Bank and the Ministry of Finance to facilitate banking procedures for real traders and control the movement of funds through the official banking system to reduce the need for the parallel market," noting that "the continuation of this situation will lead to increased economic pressures and higher prices in local markets." Al-Kadhimi concluded his remarks by stressing that "the Parliamentary Finance Committee is closely monitoring this issue and will work to find urgent solutions that ensure the stability of the exchange rate and protect consumers from the repercussions of the dollar's rise." Trade: Iraq Seeks To Open Up To The Global Economy By Joining The WTO. ARTICLE: The official spokesperson for the Ministry of Trade, Mohammed Hanoun, confirmed that the Iraqi government continues to implement its reform program aimed at completing the requirements for the Republic of Iraq's accession to the World Trade Organization (WTO), in line with the state's orientations towards openness to the global economy and strengthening Iraq's position within the multilateral trading system. Hanoun explained in a statement received by Mawazine News that "the ministry, through the National Committee for Iraq's Accession to the Organization, was able, during the years 2023 and 2024, to make tangible progress in completing the basic negotiating documents and updating the required technical files, reflecting Iraq's commitment to international standards and implementing the principles of transparency and economic openness." He pointed out that "Iraq officially resumed the accession negotiations process after a hiatus of more than 16 years. In July 2024, the third meeting of the working group concerned with Iraq's accession was held at the organization's headquarters in Geneva, headed by the Minister of Trade, who gave a comprehensive presentation on the ongoing economic and legislative reforms. This presentation was widely welcomed by member states, which praised Iraq's commitment to the requirements of full membership." He added, "The Ministry, in cooperation with relevant government agencies, has completed the update of the customs tariff system to HS2022, in addition to preparing and amending a package of commercial laws and legislation, including intellectual property rights laws, commercial arbitration, technical standards, and regulations related to foreign trade. The Ministry of Finance is also working to complete the stages of approving the new customs system within the national legal framework." The official spokesman explained that "Iraq participated for the first time in twenty years as an observer" in the 13th Ministerial Conference of the World Trade Organization (MC13), held in Abu Dhabi, stressing that this participation reflects the strong political support for the accession process and the government's will to accelerate structural economic reforms in line with the organization's requirements. He added that "the National Committee and its subcommittees, after the last meeting, began updating the memorandum on the foreign trade system and submitting detailed answers to 175 questions" submitted by member states, in preparation for holding the fourth meeting of the working group during the next phase." Hanoun concluded his statement by emphasizing that "the Ministry of Trade, under the direct guidance of the Prime Minister, is proceeding to complete all technical and legal requirements in cooperation with relevant ministries and agencies, with the goal of achieving Iraq's full membership in the World Trade Organization in the coming period, which will contribute to enhancing the competitiveness of the national economy and attracting foreign investment. A Slight Decrease In The Dollar Price In Local Markets. ARTICLE: The exchange rate of the dollar against the dinar decreased slightly in the markets of the capital, Baghdad, with the opening of the stock exchanges today, Monday. The selling price of the dollar in the Al-Kifah and Al-Harithiya stock exchanges was recorded at 140,400 dinars for every 100 dollars. The selling price in exchange shops in the local markets in Baghdad reached 141,500 dinars for every 100 dollars, while the purchase price reached 140,500 dinars. In Erbil, the dollar also decreased, as the selling price reached 141,250 dinars for every 100 dollars, and the purchase price was 140,250 dinars for every 100 dollars. Oil: Iraq Continues Its Vision To Develop Its Resources & Maximize The Economy. ARTICLE: Oil Minister Hayan Abdul-Ghani said on Monday that Iraq continues to work with confidence and a clear vision to develop its oil and gas resources and maximize their economic value. A statement from the ministry, received by Al-Eqtisad News, stated that "the Minister of Oil, Hayan Abdul-Ghani Al-Sawad, affirmed during the opening of the first edition of the Iraq Oil Industry Workshop (IPIW 2025), organized by the Ministry of Oil, that the global oil industry is undergoing a period of fundamental transformations in light of the diversity of energy sources and the development of production and consumption technologies." He pointed out that "the transformations have imposed new challenges related to sustainable growth, securing supplies, and achieving a balance between economic abundance and environmental responsibility." He explained, "In light of this reality, Iraq continues to work with confidence and a clear vision to develop its oil and gas resources and maximize their economic value in a way that serves its national interests." He noted that "the ministry has taken a series of strategic measures to keep pace with these transformations, including developing major oil fields, increasing production efficiency using the latest operational and administrative technologies, accelerating associated gas investment programs to meet the needs of power plants, and reducing reliance on imports." He stressed that "Iraq possesses one of the largest oil reserves in the world and continues to work to optimally exploit this national resource through integrated investment plans that ensure sustainable production, diversify partners, and expand the technical and administrative base of national companies." He explained that "the Ministry pays special attention to the issue of technology transfer and knowledge localization through strategic partnerships with international companies, by transferring operational and administrative expertise and employing it to build national capabilities and train Iraqi personnel in the latest technical applications in the fields of drilling, production, processing, and transportation." Iraqi Oil Prices Rise In Global Markets. ARTICLE: Iraqi oil prices rose during weekly trading in the global market. According to specialized data, Basra Medium crude rose to $65.85 per barrel, while Basra Heavy crude recorded $64.70 per barrel, with a change rate of +0.76 for both. Regarding global oil prices, British Brent crude recorded $66.41 per barrel, while US West Texas Intermediate crude recorded $61.93 per barrel, with changes rates of +0.43 and +0.47, respectively. Gold Declines As The Dollar Rises Amid Easing US-China Tensions. ARTICLE: Gold prices fell, affected by the strengthening US dollar and signs of easing trade tensions between the United States and China, at a time when investors are awaiting meetings of major central banks this week for signals on monetary policy. Spot gold fell 0.7% to $4,082.77 per ounce by 01:58 GMT, while US gold futures for December delivery fell 1% to $4,095.80. The US dollar rose to its highest level in more than two weeks against the yen, making gold more expensive for holders of other currencies. Top US and Chinese economic officials agreed on Sunday on the framework for a trade deal, which President Donald Trump and his Chinese counterpart Xi Jinping are scheduled to discuss later this week. The Federal Reserve is widely expected to cut interest rates by a quarter percentage point at its meeting next Wednesday, buoyed by last Friday's weaker-than-expected inflation report, which typically boosts the appeal of non-yielding assets like gold. Among other precious metals, spot silver fell 0.3% to $48.42 an ounce, while platinum rose 0.1% to $1,607.24, and palladium fell 0.2% to $1,426.06.

Here's some articles of Dinarian interests... Iraq Is Experiencing Its Most Stable Period Thanks To Strong Foreign Reserves. Treat as rumors. Not verified. Your opine. TNT via Tishwash: Driver Arrested Attempting To Smuggle Counterfeit Foreign Currency Through Qaim Border Crossing. ARTICLE: The Border Ports Authority announced, on Saturday, the arrest of a driver who attempted to smuggle counterfeit foreign currency through the Al-Qaim port. The authority said in a statement, "The Al-Qaim Border Port Directorate was able to apprehend an Iraqi driver while attempting to smuggle counterfeit foreign currency, in addition to 22 ancient coins, a number of foreign passports & SIM cards." The statement added, "The seizure operation was carried out in coordination & cooperation with the Customs Center & supporting departments at the port." It pointed out that "a formal seizure report was prepared & the driver & the seized items were referred to the Al-Qaim Police Station to complete the necessary legal procedures." Tishwash: PM's Advisor: Iraq Is Experiencing Its Most Stable Period Thanks To Strong Foreign Reserves. The PM's advisor for financial affairs, Mazhar Mohammed Salih, issued a clarification on Sunday regarding Iraq's internal & external debt. While noting that domestic borrowing represents only 18 percent of the total precautionary debt, he confirmed the existence of committees working with int'l companies to convert a portion of the domestic debt into investment vehicles. Saleh told the Iraqi News Agency (INA): "There is a blurry picture in interpreting the issue of external debt, as the external debts due until 2028 do not exceed $9 billion, which constitutes mostly half of the country's total external debt," indicating that "there are coordinated repayment mechanisms between the Ministry of Finance & the CBI, which are highly governed & transparent & are settled accurately within a strict program & allocations in the Federal General Budget & are periodically extinguished with the int'l creditor community." He added, "The total external debt does not exceed what was mentioned above & the amounts mentioned in the CBI's letter require explanation, as Iraq is not obligated to pay them, especially the $41 billion, as they are subject to the Paris Club agreement of 2004, which wrote off 80% or more of those debts related to the Iran-Iraq war, or what are called pre-1990 debts." He continued, "As for the domestic debt referred to in the CBI's letter, it is the result of the accumulation of financial, security, financial & health crises that the Iraq economy has been exposed to over the past decade & since the war on ISIS terrorism. This has been accompanied in recent years by severe geopolitical factors that have exposed global oil markets to a decline in prices due to decline in growth in the global economy." He explained that "the borrowing undertaken by the current government as domestic debt constitutes only 18% of the total precautionary domestic debt included in the Federal General Budget (the three-year budget) pursuant to Law No. 13 of 2023 for the years 2023-2025." He stated that "the internal debt, which amounts to approximately 91 trillion Dinars, is mostly held by the government banking system & under high-level financial & technical management," noting that "there are specialized committees working in cooperation with int'l consulting companies to convert a large portion of that internal public debt into productive investment tools within a national fund to manage the aforementioned internal debt in a manner that aims to stimulate the real economy & transform debt obligations into investment opportunities in the real sector of the Iraqi economy." He explained that "Iraq is currently experiencing the most stable period due to the strength of foreign reserves, the function of which is to stabilize the purchasing power of the Iraqi dinar & sustainable development." Tishwash: US Listens To Baghdad: Ambitious Financial Reforms Seek Credible Implementation & Institutional Change. This week, the Iraqi delegation participated in a banking reform conference held in Washington on the sidelines of the IMF & World Bank meetings. The event is a practical test of Baghdad's ability to present a realistic picture of the results of its economic program. The Iraqi delegation, which included a number of advisors & financial officials, sought to highlight the reform steps achieved over the past two years as indicators of the country's transition from crisis management to building a modern economic system. Advisor to the PM, Saleh Mahoud Salman, who presented Iraq's paper at the conference, outlined a series of measures he described as "a pivotal stage in the path of economic & financial reform." He explained that the government is "implementing a strategic banking reform package in cooperation with the CBI & int'l consulting firms," focusing on "restructuring government banks, expanding financial inclusion & automating the customs & tax system." However, this proposal, while important from an administrative perspective, raises broader questions about the depth of the transformation & its compatibility with the requirements of a rapidly evolving global economy. Reform in a financial environment like Iraq's, where structural challenges intertwine with political constraints, is not measured by the number of projects as much as it is by the state's ability to change the behavior of the financial system itself. Indicators Of Reform... But To What Extent? The government says the preparation of a three-year Budget represents a qualitative shift in financial planning, an unprecedented step in the modern history of Iraq. However, financial economists point out that the success of this model depends on the availability of accurate data & stable monetary policy, two conditions that still face challenges in a financial environment that relies on oil revenues for more than 90% of the country's GDP. Institutional economists believe that "budget stability does not necessarily mean stable growth," as volatility in oil prices & weak economic diversification make any long-term planning vulnerable to disruption in the event of a global crisis or a decline in demand for crude oil. In contrast, the PM's advisor points out that the government has been able to increase customs & tax revenues by automating the customs system using the UN-approved ASYCUDA program, which reflects the beginning of bridging the gap between the formal & parallel economies. However, economic researchers believe that the success of this step requires an effective regulatory system & a flexible administrative structure, as technology alone is not sufficient to change work culture or reduce administrative corruption, which is one of the most prominent obstacles to financial reform in Iraq. Financial Inclusion & Digital Transformation: Between Ambition & Capability: Electronic payment systems are one of the areas that have witnessed the most tangible progress, with financial inclusion rising from less than 10% to more than 40% in two years, according to the government advisor. This digital leap is an indicator of a gradual shift in citizens' financial behavior, especially with the expanding use of bank cards & mobile payment services. However, banking observers believe that the quantitative expansion is not matched by qualitative developments in the banking structure. Banking services in most government banks remain traditional & rely on paper transactions, while the private sector suffers from restrictions in accessing external financing. Digital economy experts point out that the transition to an e-economy cannot be complete without a comprehensive legal & legislative environment that ensures protection from financial crimes & builds trust between citizens & the banking system. Some economists argue that Iraq, despite its relative progress in this area, is still in the "experimental" phase & needs to integrate technology into the public financial management system, not just into individual transactions. Banking Sector Restructuring: Reform Or Role Rotation? Restructuring state-owned banks (Rafidain, Rashid, Industrial & Agricultural) is a key pillar of the government's plan. government announces that it has increased the operational efficiency of these banks and begun reevaluating their assets. However, financial analysts believe that true reform cannot be achieved simply through administrative restructuring, but rather through the ability of these institutions to transform into sustainable financing entities that effectively contribute to driving local production. Rafidain & Rashid, which represent approximately 80% of the banking market, still operate according to a traditional services model, while private banks face weak confidence from investors and depositors alike. Banking finance experts point out that structural reform in the Iraqi banking sector requires gradual liberalization of credit policies & the activation of partnerships with regional banks, as a closed economy cannot benefit from global growth or external financing. Poor Institutional Continuity & Changing Strategies: One of the most significant structural challenges facing economic reform in Iraq is the lack of institutional continuity. Each new government tends to reformulate the economic strategy from scratch, even in areas where tangible progress has been made. This recurring pattern of "administrative rupture" hinders the accumulation of experience & leads to a loss of the institutional foundation necessary for any genuine reform process. Instead of building on previous programs & evaluating their results, plans are replaced by new projects presented under a different title, without any scientific review or analysis of previous policies. Institutional economics researchers point out that this behavior reflects the weakness of the Iraqi state's institutional structure, as there are no permanent planning bodies or economic councils to ensure the continuity of policies regardless of changes in government. Thus, the reform process often becomes a short-term political project, tied to the government's cycle rather than the economic cycle, limiting its ability to produce a sustainable economic impact or build internal & external confidence in fiscal policies. Are These Steps Sufficient To Keep Pace With Global Transformations? Iraq's experience with financial and banking reform demonstrates that the problem has never been a lack of vision, but rather its frequent interruptions. Each government introduces new plans, discarding previous ones, as if the state is starting from scratch with each political cycle. This behavior reflects not only a contradiction in priorities, but also a weak institutional structure that lacks a continuous economic memory capable of transferring experience & embedding successful policies. Public economics studies confirm that the success of any financial reform depends more on accumulated experience & continuity than on the amount of funding or international support. In the Iraqi case, reforms are still managed according to the logic of the "governmental phase" rather than the "national phase," which makes them vulnerable to disruption as soon as the political orientation shifts. The steps presented at the Washington conference reflect a clear technical effort, but they will not translate into actual achievement unless they are linked to independent institutions capable of protecting reform from political change. Reform is not achieved by changing plans, but rather by establishing an implementation mechanism that is not affected by changes in ministers or governments. Thus, it can be said that financial reform in Iraq is moving in the right direction in terms of form, but it still requires a permanent institutional framework that ensures sustainability & transforms reform from a government initiative into a state-led process that remains unchanged by changes in leadership.

Here's some articles of Diarian interests... From US: A New Banking & Economic Reform Package For Iraq. Treat as rumors. Not verified. Your opine. TNT via Tishwash: From US: A New Banking & Economic Reform Package For Iraq. ARTICLE: The Iraqi delegation participating in the banking reform conference in Washington, D.C., on the sidelines of the IMF & WB meetings, announced a new package of banking & economic reforms on Saturday aimed at strengthening the stability of the financial system & attracting investment. "The government has implemented a series of steps as part of the economic & financial reform program, most notably the implementation of comprehensive strategic banking reforms in cooperation with the CBI & int'l consulting firms, as well as the preparation of a three-year Budget for the 1st time in Iraq's history to ensure stable financial planning that attracts investment," said Saleh Mahoud Salman, an advisor to the Iraqi PM, according to a statement received by Shafaq News Agency. He added that "automating the customs system through the implementation of the United Nations ASYCUDA program has led to a significant increase in customs & tax revenues, the restructuring of government banks (Rafidain, Rasheed, Industrial, and Agricultural) and increased their operational efficiency, as well as the expansion of electronic payment systems & increased financial inclusion from less than 10% to more than 40% within two years." Salman continued, "Support programs have been launched for small & medium-sized enterprises to create job opportunities & stimulate the local economy," noting that "these steps represent a pivotal stage in the economic reform process & that the government will continue to support the development of the banking sector in cooperation with int'l institutions." Prior to this, the CBI announced new instructions to all authorized banks in the country regarding money transfers & customs clearance procedures related to the requirements for the approval of special commercial invoices, with the aim of curbing currency smuggling. This measure comes as part of the efforts of the CBI & government agencies to develop the financial & administrative environment & improve the level of oversight & compliance with int'l standards in foreign trade. Tishwash: Highest Since 2003: Confirmation Of Rising Non-Oil Revenues & Calls For Economic Reform. Representative Basem Naghmish expected, on Wednesday, that Washington would resort to imposing economic sanctions on Iraq, exploiting the pretext of "mismanagement" in the oil sector. Naghmish told Al-Maalouma Agency, “The US has become accustomed to using titles such as mismanagement or corruption as a cover to interfere in the affairs of countries & there are indications that it is trying to follow the same approach with Iraq in the oil file.” He added, "There is fear that these accusations will be exploited to impose sanctions that may affect oil exports," stressing that "their goal is to keep Iraq weak & influence its sovereign decision." Earlier, Representative Intisar Al-Moussawi considered Trump's statement about Iraqi oil evidence of America's arrogant outlook & Washington's treatment of Iraq as a source of wealth rather than a sovereign state. Tishwash: Sudanese Advisor: Electronic Financial Inclusion Has Risen To More Than 40% PM Saleh Mahoud Salman's advisor confirmed on Friday that the government is continuing to implement comprehensive strategic banking reforms, noting that the government is committed to continuing to implement the economic & financial reform program. "The government is committed to continuing to implement the economic & financial reform program aimed at enhancing the efficiency of the banking system & supporting sustainable development in the country," Mahoud said in a speech he delivered during his participation as a government representative in the banking reform conference organized by the CBI in cooperation with the int'l consulting firm (Oliver & Ayman) at the Ritz Carlton Hotel in Washington, DC, on the sidelines of the meetings of the IMF & WB. He stressed that "the banking sector represents a fundamental pillar in the economic reform process," indicating that "the government is continuing to implement comprehensive strategic banking reforms in cooperation with the CBI, aimed at raising banking standards & enhancing the competitiveness of the financial system." He explained that "the government has prepared a 3-year General Budget for the 1st time, which allows for long-term financial planning, achieving stability in resource management & enhancing the confidence of local & int'l investors." In the context of diversifying revenues & reducing dependence on oil, he explained that "the government has achieved tangible progress in automating the customs system by implementing the UN (ASYCUDA) system, which has led to a clear increase in customs revenues in addition to a significant improvement in tax revenues," noting that "the government has implemented a program to restructure government banks (Al-Rafidain, Al-Rasheed, Industrial & Agricultural) in cooperation with int'l consulting companies, with the aim of raising its efficiency & enhancing its ability to provide modern financial services. He pointed out that "the government launched programs to expand the use of electronic payment & partnerships with financial technology companies, which contributed to raising the financial inclusion rate to more than 40% after it was less than 10% two years ago, which was praised by the WB & the IMF," stressing "the government's support for small and medium enterprises by providing financing & resources to create new job opportunities & stimulate the local economy." Salman stated that "the banking reforms currently being worked on constitute a turning point in the history of Iraq's economic development & that the government is determined to support all local and int'l institutions working to develop the banking sector, as it is a pivotal part of the economic growth & financial stability plan." He noted that "the government extended its appreciation to the Central Bank, banks & int'l & local advisory teams working in this field.

Here's some articles we may have overlooked in wake of the Trump-Israel-Hamas peace summit... Direct From The SANDBOX Report. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Iraq, Iran Expand Border Trade Flow: ARTICLE: Iraq & Iran agreed on Monday to boost trade & streamline cross-border movement by upgrading the Sumar border crossing, extending customs hours & opening a 3rd gate for exports. According to Fars News Agency, the agreement was reached during the 3rd joint meeting in Mandali, Diyala province, which included Kilan Gharb district Gov Sadegh Khodadadi, Mandali Border Director Amir Hesam Halim, and Sumar Border Customs Director Bagheri Nia. Kilan Gharb Gov requested the 3rd export gate & longer customs hours, highlighting that the crossing could serve as a model for bilateral cooperation. Halim approved the plan, proposing one gate for food imports & another for non-food exports such as ceramics, while also emphasizing on coordinated goods entry & extended hours to ensure smooth trade. Officials further stressed the importance of ongoing bilateral meetings & stronger diplomatic coordination to address challenges & enhance the crossing’s infrastructure. Sumar border crossing, located about 15 kilometers from Mandali in Iraq & 155 kilometers from Baghdad, handles roughly 105,000 tons of non-oil goods monthly, valued at $53 million. These include ceramics, marble, rubber products, fittings, disposable tableware & chicken eggs, according to a 2024 report from the Iraqi Ministry of Finance. Basrah Crude Rises As OPEC Prices Dip In September: ARTICLE: Iraq’s Basrah Medium crude climbed to an average of $70.40 per barrel in September, up 80 cents from August, according to the Organization of the Petroleum Exporting Countries (OPEC) monthly report released in October. The report showed that Basrah Medium averaged $70.99 per barrel over the 1st 9 months of 2025, compared with $80.42 during the same period last year, reflecting the broader decline in global oil benchmarks. Despite the uptick in Basrah prices, OPEC’s reference basket fell to an average of $67.92 per barrel in September, down from $69.82 in August, amid continued supply concerns & market uncertainty. Within OPEC, Saudi Arabia’s Arab Light ranked highest at $72.62, followed by the UAE’s Murban crude at $72.16, with Iraq’s Basrah Medium taking the 3rd spot among member producers. Iraq sends roughly 70% of its crude exports to Asian markets, 20% to Europe & the remaining 10% to the US, maintaining its position as one of OPEC’s leading suppliers. USD/IQD Holds Steady In Baghdad, Slips Slightly In Erbil: ARTICLE: On Tuesday, the USD ER held steady against the Iraqi Dinar in Baghdad, while edging down in Erbil as trading closed. According to a Shafaq News survey, Baghdad’s al-Kifah & al-Harithiya central exchanges registered a rate of 141,600 IQD per $100, the same level recorded earlier in the day. In local exchange shops, the selling rate stood at 142,500 IQD, with buying at 140,500 IQD per $100. In Erbil, the Dollar slipped marginally, with selling at 141,500 IQD & buying at 141,400 IQD per $100. Iraq Boosts Gold Reserves As Global Prices Hit Record Highs: ARTICLE: Iraq has increased its gold holdings, now accounting for nearly 15% of its foreign reserves, as global prices climb past $4,000 per ounce amid geopolitical tensions & waning confidence in the USD. PM’s adviser Mudhir Mohammed Saleh told Shafaq News on Tuesday that the strategy is a “precautionary hedge” against currency risk. “Gold remains the most reliable store of value in unstable times,” he said. Saleh added that Iraq’s diversification policy follows int'l standards & strengthens long-term monetary stability. Domestically, 21-karat gold now sells for 820,000–833,000 Dinars (around $625) per mithqal in Baghdad & Erbil, with demand rising as Iraqis seek protection from Dinar volatility. The rally reflects surging global demand as conflicts in Ukraine, the Middle East & East Asia push investors & central banks toward bullion. In August, central banks added 19 tons to their reserves, led by China’s 300-ton gold purchases in 2024 to cut Dollar exposure, according to the World Gold Council.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. The WB Expects Iraq To Lead Arab Countries In Economic Growth By 2026. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: The WB Expects Iraq To Lead Arab Countries In Economic Growth By 2026. ARTICLE: The WB forecast on Tuesday that the Iraqi economy will record the highest growth rate among Arab countries in 2026, reaching 6.7%, ranking 1st in the Arab world in the list of expected economic performance growth next year. This high growth reflects a clear improvement compared to the June 2025 forecast, supported by the recovery of the energy sector and the rise in oil exports, in addition to the government's efforts to enhance investment in infrastructure & diversify sources of income. This expected performance is a positive indicator of the recovery of the Iraqi economy & the restoration of its activity, in light of global & regional economic challenges. Djibouti came in second place with an expected growth rate of 6.1%, followed by Qatar at 5.3%, then Palestine at 5.1%, while the UAE recorded growth at 5%. Saudi Arabia's growth forecast reached 4.3%, followed by Egypt & Morocco with rates close to 4.2%, while growth rates in Lebanon, Oman & Libya ranged between 3.5% & 3.6%. Algeria, Bahrain & Kuwait recorded moderate rates ranging between 2.5 & 3.1%, while Jordan and Tunisia recorded rates below 2.7% & Yemen remained unchanged at 2.5%. The USD ER Stabilizes. The Note Is Worth 142,500 Iraqi Dinars. The Dollar ER witnessed remarkable stability against the Iraqi Dinar in local markets on Tuesday. The prices were as follows: Selling prices: 142.500 Dinars per $100. Buying prices: 140.500 Dinars per $100. Oil Prices Continue To Rise After OPEC+ Production Increases. Oil prices rebounded on Tuesday, thanks to a smaller-than-expected increase in OPEC+ production, which helped ease concerns about a supply glut. Brent crude futures rose 23 cents, or 0.35%, to $65.70 a barrel by 03:56 GMT. U.S. West Texas Intermediate (WTI) crude rose 21 cents, or 0.34%, to $61.90 a barrel. Both contracts settled more than 1% higher in the previous session after OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia & some smaller producers, decided to increase its oil production by 137,000 barrels per day starting in November, according to Reuters. Analysts at ING said the move contradicts market expectations for a stronger return to supply & is a sign that the group remains cautious about increasing its production share in the global oil market amid expectations of a supply surplus in the 4th quarter & next year. The group raised its oil production target by more than 2.7 million barrels per day this year, equivalent to about 2.5% of global demand. Geopolitical factors supported prices, as the conflict between Russia & Ukraine impacted energy assets & fueled uncertainty about Russian crude supplies. Two industry sources said on Monday that Russia's Kirishi oil refinery shut down its most productive distillation unit after a drone attack that caused a fire on October 4, and that repairs were likely to take about a month. However, analysts said oil prices came under pressure as investors see the potential for a supply surplus amid increased supplies from OPEC+ & non-OPEC producers. Furthermore, any slowdown in demand due to weak economic growth caused by US tariffs is likely to exacerbate the surplus. Gold Prices Reach An All-Time High. Gold hit a record high on Tuesday as political tensions between the two chambers of the US Congress that led to a government shutdown continued, while expectations of a near-certain Federal Reserve interest rate cut this month supported prices. Spot gold was up 0.1% at $3,965.39 per ounce by 03:08 GMT, after hitting an all-time high of $3,977.19 earlier in the session. US gold futures for December delivery also rose 0.3% to $3,988.10. Markets continue to price in an additional 25 basis point rate cuts in both October & December, with 95% and 83% odds, respectively, according to the CME FedWatch tool. Gold thrives in a low interest rate environment & during economic uncertainty. Gold has risen 51% so far this year, driven by strong central bank buying, increased demand for gold-backed exchange-traded funds (ETFs), a weaker Dollar & increased interest from individual investors seeking to hedge amid escalating trade & geopolitical tensions. Among other precious metals, spot silver fell 0.1% to $48.49 an ounce, platinum fell 0.4% to $1,619.62 & palladium rose 0.1% to $1,325.71.

FROM IRAQI SOURCES: Iraqi Securities Commission Launches Major Reforms To Boost Investment & Meet Vision 2030. ARTICLE: Baghdad (IraqiNews.com) – The Iraqi Securities Commission (ISC) announced today, Monday (October 6, 2025), a comprehensive strategy to modernize the country’s capital market, asserting that the reforms are fundamental to achieving Iraq’s Economic Vision 2030. The announcement was made by Chairman Faisal Al-Himais during the “Global Investor Week” conference, marking the ISC’s 21st anniversary. Al-Himais emphasized that the government, under PM Mohammed Shia Al-Sudani’s patronage, is committed to creating a transparent environment, positioning the Iraq Stock Exchange (ISX) as a key engine for economic growth. This commitment involves modernizing both the legal & technical foundations of the market. Yasin Taha Weis, a member of the ISC Council, detailed the legal reforms, confirming that the ISC is working to replace the outdated Coalition Provisional Authority (CPA) legislative order of 2004 with a new law that will increase investment guarantees. This proposed law has already had its 2nd reading in Parliament. Additionally, the ISC is upgrading the infrastructure & work methods of the ISX by collaborating with major int'l companies that specialize in electronic trading systems. The commission’s strategy is twofold: to enhance oversight & organization & to significantly expand the base of listed companies. According to Weis, increasing the number of listed companies and improving their performance is vital, as it directly correlates with greater investor engagement & a rise in the total volume of investment in the market. Kirkuk-Banias Pipeline & Its Strategic Importance. Concerns remain about the fate of Iraq's oil export capacity in the event of conflicts in the region. It is illogical for 90 percent of exports to be dependent on the Strait of Hormuz, which is under constant security & military pressures, evident in the escalating statements of the warring states from time to time. Radical solutions may require specific approaches, projects & significant effort & even a relatively long period of time to achieve a high degree of flexibility in export outlets. What is important is to implement short- & medium-term measures to achieve radical strategic solutions in the long term. The issue of the oil pipeline from Kirkuk Governorate to the Baniyas oil port in Tartous Governorate, northwest of Syria, on the Mediterranean coast, was recently raised. This issue could constitute a pivotal point in Iraq’s export policy. This pipeline was established in the 1950s with an export capacity of up to (300) barrels per day, with a length of (891) km & a diameter of (30) inches. Pumping in the pipeline stopped during the Iran-Iraq war. The pipeline was restarted in 2000, but it broke down again. It was exposed to significant damage after 2003 & is still stopped. The efforts of the governments in Iraq and Syria to revive this pipeline have surfaced, & here comes the role of economic analysis in determining the importance of this step if it is successful, as the rehabilitation costs are estimated at (8) billion dollars, and it is possible to change the export capacity to reach (700) thousand, which is a relatively good thing & may largely justify the size of the costs necessary for re-operation. This pipeline also constitutes an important factor in diversifying export outlets & alleviating the state of Focusing on the Strait of Hormuz & as is clear, transport via pipelines is the least expensive of all means of transport, which enhances the chances of maximizing oil profits if it is possible to export a larger quantity of oil via pipelines instead of sea tankers & land transport. It is important to point out a very important issue, which is the possibility of Iraq possessing a card that gives it strength in its negotiations with the Turks regarding the (Ceyhan) pipeline, given that the outlets will be more available to Iraq & will not be limited to the Turkish side only. The project is large and will represent a qualitative shift that enhances Iraq’s oil status, so the pace must be accelerated & solutions must be found to the outstanding problems, especially the security one. It is also necessary to involve foreign parties in financing, consulting or investment partnerships to link interests, while studying the possibility of increasing the export capacity to numbers greater than what was mentioned.

Here's some articles of Dinaian interests... Direct From The SANDBOX Report. CBI: Iraq Capable Of Defending The ER. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: CBI: Iraq “Capable of Defending The ER" ARTICLE: The Gov of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, announced on Sunday that Iraq is currently witnessing the lowest inflation levels in its modern history. Speaking at the Iraq Investment Forum, he said that the country enjoys “comfortable” foreign currency reserves capable of defending the ER, while monetary policy has successfully created a stable environment for investment. According to the state-run Iraqi News Agency (INA), Al-Alaq highlighted that financial and monetary stability has been achieved through daily central bank policies, prudent reserve management & reforms in the banking sector. He added that controlling inflation & ensuring stable prices provide a critical foundation for private sector activity and investor confidence. Rentier No More? Baghdad’s $17B Gamble On the Development Road. Iraq’s $17 billion Development Road Project will be the backbone of a new, non-oil economy, linking the Gulf to Europe & reshaping regional trade, Transport Minister Razzaq Muhaibis al-Saadawi said on Tuesday. During the Global Rail 2025 exhibition in Abu Dhabi, al-Saadawi called the rail-and-highway corridor “a lifeline that carries jobs & investment, not just freight.” He said int'l experience shows that modern rail networks slash transport costs, strengthen supply chains & drive competitiveness — outcomes Iraq aims to replicate by making rail the centerpiece of the project. The Development Road will span 1,200 kilometers from Iraq’s southern ports to Turkiye, combining an electrified railway with a high-speed highway. Construction is planned in three phases through 2050, with the 1st stage expected to create more than 100,000 jobs. For decades, Iraq has functioned as a rentier economy, deriving over 90% of state revenues from oil exports. This dependence has left public finances highly vulnerable to price swings, limited private-sector growth & entrenched unemployment among a young population. Economists warn that without diversification, Iraq’s fiscal system risks recurring crises & an inability to sustain basic services when oil markets weaken. Oil Falls As OPEC+ Eyes Hike, Kurdistan Exports Resume. Oil prices fell on Tuesday as another anticipated production increase by OPEC+ and the resumption of oil exports from Iraq’s Kurdistan region via Turkey reinforced the outlook for a looming supply surplus. Brent crude futures for November delivery, expiring on Tuesday, fell 54 cents, or 0.8%, to $67.43 a barrel by 0320 GMT. The more active contract for December was down 53 cents, or 0.8%, at $66.56 per barrel. U.S. West Texas Intermediate crude was trading at $62.95 a barrel, down 50 cents, or 0.8%. The drops extend Monday’s falls when both Brent & WTI settled more than 3% lower after logging their sharpest daily declines since August 1, 2025. Oil’s falls came as Iraq’s Kurdistan region resumed crude oil exports over the weekend & amid reports that OPEC+ is likely to approve an increase in production for November at its meeting this weekend, IG analyst Tony Sycamore wrote in a note to clients. In a meeting scheduled for Sunday, the Organization of the Petroleum Exporting Countries & allies including Russia, together known as OPEC+, will likely approve another oil production increase of at least 137,000 barrels per day, three sources familiar with the talks said. Gold Prices Increase In Baghdad, Erbil Markets. On Tuesday, gold prices climbed in Baghdad & Erbil markets. According to a survey by Shafaq News Agency, gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 766,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish & European varieties, with a buying price of 762,000 IQD. In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 765,000 & 775,000 IQD, while Iraqi gold sold for between 735,000 & 745,000 IQD. In Erbil, 22-carat gold was sold at 820,000 IQD per mithqal, 21-carat gold at 782,000 IQD, & 18-carat gold at 670,000 IQD. Dollar Prices Drop In Baghdad & Erbil Markets. On Tuesday, the ER оf the USD edged lower against the Iraqi Dnar in Baghdad & Erbil. According to Shafaq News Agency’s survey, the Dollar’s rates decreased with the closure оf the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad, settling at 141,550 Dinars for every 100 Dollars, while they recorded 141,650 Dinars in the morning. The selling & buying rates at currency exchange stores in Baghdad were set at 142,500 IQD & 140,500 IQD per 100 USD, respectively. Erbil’s selling price reached 141,350 Dinars for every 100 Dollars & the buying price was 141,250.

Here's some articles of Dinarian interests... American Expert: Iraq Is Witnessing Remarkable Development. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: American Expert: Iraq Is Witnessing Remarkable Development. ARTICLE: The Economic Advisor at the US Embassy, Eric Camus, confirmed that Iraq has achieved remarkable progress in the reconstruction sector, especially in the capital. He pointed out that there are significant investment opportunities for Iraq to attract foreign investment & enhance economic diversification. This was during the Iraq Investment Forum, which was hosted in Baghdad over the past two days, under the patronage of the PM. Camus said at the conference yesterday, "The US government sees Iraq as a promising investment & private partnerships encourage American investment." He indicated that "there are reform steps in the economic field, including the launch of a single window for company registration, the banking reform initiated by the Iraqi government & the expansion of the electronic payment system. Camus stressed that the digital system reduces reliance on cash, ensuring transparency & also represents a good reform a major transformation noting that "the security environment in Iraq is witnessing stability compared to what it was a decade & a half ago." The int'l forum presented more than 150 investment opportunities in various sectors, according to the head of the Iraqi Economic Council, Ibrahim al-Baghdadi. In a statement followed by Al-Zaman yesterday, he said, "The forum constitutes an important event to showcase ready investment opportunities, as Iraq is fertile ground for investment in many fields, its important geographical location & a land rich in opportunities for investment projects." Al-Baghdadi explained that, "The forum guarantees a wide opportunity for companies & businessmen to meet with global &d regional banks & financing funds & to hold direct bilateral meetings with ministries and investment bodies in Iraq, in addition to economic & investment meetings of regional & int' interest." Iraq is witnessing economic & investment expansion by strengthening its regional & int'l partnerships, according to the PM's Advisor for Investment Affairs, Mohammed Al-Najjar, who stated yesterday that, "Iraq is experiencing its best conditions in 40 years," noting that, "The forum represents a gateway to attracting international interest in the field of expanding partnerships that feed the economy." Al-Najjar explained that, "Iraq is witnessing economic, political and security stability, the best of which it has not witnessed in four decades." In a related development, Iraq recently signed a number of memoranda of understanding with Arab & int'l countries, as part of its efforts to enhance international cooperation to promote economic development. Iraq signed contracts with Saudi Arabia, Egypt, the UAE, Jordan, the US & the UK, as well as China, Russia, Japan & the Czech Republic, in the fields of air transport, oil, industry, security & chambers of commerce, under the auspices of PM Mohammed Shia al-Sudani. The Prime Minister's Financial Advisor, Mazhar Mohammed Salih, emphasized that "the memoranda of understanding are an essential diplomatic tool, reflecting the government's desire to enhance cooperation with countries around the world in many key areas, not limited to strengthening economic relations only, but also encompassing security, technical & scientific coordination, as well as cooperation in the fields of infrastructure development, energy, health & education. "He indicated that "Iraq is moving towards enhancing int'l cooperation & developing the nat'l economy." The governor's office said in a statement received by Al-Zaman yesterday that "the head of the higher committee for the allocation of residential plots in the province has ordered the distribution of the first batch of lands among the beneficiaries, including the families of martyrs, the wounded, members of the Popular Mobilization Forces, those who died during service & retirees. "He added that "the first batch includes 950 residential plots, while the 2nd batch will start early next October, after completing the approval procedures." For his part, the Minister of Defense, Thabet Al-Abbasi, laid the foundation stone for the establishment of a residential neighborhood for army personnel in the province. A statement from the minister's office received by Al-Zaman yesterday explained that "the foundation stone was laid for the Heroes Residential City, in the former Corps area, to serve officers, personnel & employees of the ministry in Maysan." Furthermore, Maysan Governorate has begun distributing the first batch of residential plots to the residents of Al-Majar Al-Kabir District, in accordance with the directives of its Governor, Habib Al-Fartousi. American Companies Are Heading To Invest In Iraqi Oil & Gas Fields. Ali Razouki, Deputy Director of the PM's Office and Chairman of the Supervisory Committee of the Iraq Investment Forum, announced on Monday that American companies are interested in investing in oil & gas fields in Iraq, noting that the forum has achieved significant success. Razouki said, "The Iraq Investment Forum has witnessed remarkable successes by attracting major international companies in the fields of oil, industry, agriculture & other investment sectors." He explained that, "This success reflects Iraq's security & economic stability, which creates an attractive environment for investors." He added, "The National Investment Commission previously indicated its success in attracting no less than $100 billion in local & foreign capital, but this figure is expected to rise steadily after the forum." He continued, "The forum included dialogue sessions with a number of specialists to explain Iraq's investment philosophy & the directions of the relevant ministries, in addition to holding workshops that highlighted available investment opportunities in cooperation with relevant companies." He emphasized that "the forum resulted in the referral of several investment opportunities to international & local companies, which is a tangible achievement." Razouki pointed out that "after this forum, Iraq witnessed widespread competition among companies for investment opportunities," explaining that "areas that were globally classified as 'Red Zones' are now open to investment after doubts about them were removed." He noted that "American companies have headed to Anbar province to invest in some oil & gas fields," stressing that "the coming period will witness increased activity in this direction."

Here's some articles of Dinarian interests... New Decisions By The Ministerial Council For The Economy. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: New Decisions By The Ministerial Council For The Economy. ARTICLE: The Ministerial Council for the Economy issued several decisions during its meeting on Monday, including requiring governors to contribute to the preparation of the state Budget with both written proposals & numerical data, and applying the Product Protection Law to factories operating without a license from the General Directorate of Industrial Development in the Kurdistan Region. “Deputy PM & Foreign Minister Fuad Hussein chaired the 31st meeting of the Ministerial Council for the Economy on Monday, held at the Council’s HQ, in the presence of the Deputy PM & Minister of Planning, the Ministers of Finance, Trade, Agriculture, Industry, Labor & Social Affairs, the Gov of the CBI, the Deputy Chairman of the Nat'l Investment Commission & the PM’s advisors for economic & legal affairs,” said the Media Office of the Ministerial Council for the Economy in a statement received by the Iraqi News Agency – INA. The statement explained that “the Council invited the General Coordinator of the Supreme Council for Coordination between Provinces & the governors of Baghdad, Basra, Kirkuk & Wasit, to discuss the service & economic situation in their provinces. The governors presented information on their provincial plans & projects, as well as non-oil revenues collected to fund their budgets & improve services for their citizens. The Council also discussed state-owned lands & the best ways to utilize them by establishing strategic projects or distributing them after providing infrastructure to eligible groups.” PM Office: US Companies Plan To Invest In Iraqi Oil & Gas Fields. Ali Razouqi, Deputy Director of the PM’s Office and Chairman of the Supervisory Committee for the Iraq Investment Forum, announced on Monday that US companies are planning to invest in Iraqi oil & gas fields, noting that the forum achieved significant success. “Iraq Investment Forum witnessed remarkable success by attracting major international companies in the fields of oil, industry, agriculture & other investment sectors. This success reflects Iraq’s security and economic stability, which creates an attractive environment for investors,” Razouqi told the Iraqi News Agency – INA. He added that “the National Investment Authority previously indicated its success in attracting at least $100 billion in local & foreign capital, but this figure is expected to rise steadily after the forum. The forum included panel discussions with several experts to explain Iraq’s investment philosophy & the policies of the relevant ministries, as well as workshops that showcased available investment opportunities in cooperation with relevant companies.” Iraq Stock Exchange Sees 46% Jump In Trading Value. The Iraq Stock Exchange (ISX) announced today, Monday (September 29, 2025), a significant surge in trading value last week, even as overall share volume dropped. The total financial value of traded shares exceeded 6.665 billion Iraqi Dinars, marking a 46% increase compared to the previous week. According to a report by the Iraqi Securities Committee, a total of 4,512 deals were executed, involving 65 joint-stock companies. While the total volume of shares traded decreased by 11% to 4.752 billion shares, the substantial increase in financial value suggests the trading of high-value stocks. The ISX60 price index recorded a slight closing decline of 0.05%, finishing the week at 963.79 points. The report highlights a key indicator of market confidence: foreign investors were net buyers during the week. They purchased 168 million shares valued at 380 million Dinars, while selling 66 million shares valued at 159 million Dinars. This net buying position is a strong signal of external confidence in the Iraqi market. The ISX continues to list 104 Iraqi joint-stock companies across various vital sectors.

Here's some articles of Dinarian interests... Direct From The SANDBOX Report. Advisor: Iraq Is Experiencing A Major Price Boom. Treat as rumors. Not verified. Your opine. FROM IRAQI SOURCES: Government Advisor: Iraq Is Experiencing A Major Price Boom. ARTICLE: Mazhar Mohammed Saleh, the PM's advisor for financial affairs, confirmed that the economic policies pursued, both monetary & fiscal, have succeeded in achieving significant price growth in the country. He emphasized that this indicates the success of implementing these policies in combating inflation. Saleh told Al Furat News Agency, "Monetary policy has succeeded in maintaining the positive effects of the official exchange rate of 1,320 Dinars to the Dollar & isolating the effects of the parallel market from the local pricing system." He pointed out that fiscal policy was another key factor in combating inflation, through a broad government support policy. He explained that this support includes the agricultural sector for grain production, support for the food & medicine basket, fuel & electricity, in addition to customs & tax exemptions. The PM's advisor explained that the percentage of this government support is estimated in the Budget at approximately 25% of total public spending, or 13% of the country's gross domestic product. Saleh added that trade policy has played a supporting role in combating inflation & stabilizing the Iraqi economy, through a price defense policy that involves the expansion of stores offering consumer & construction materials at cooperative prices. Saleh concluded his statement by emphasizing that Iraq is experiencing a significant price boom, which indicates the success of the country's economic policy. Despite Tensions, Gold Is On Track For Its 6th Consecutive Weekly Gain. Gold is heading for a sixth straight weekly gain, supported by escalating geopolitical tensions, inflows into gold-backed exchange-traded funds (ETFs) & increased risk aversion in global markets. Spot gold traded near a record high of $3,744 per ounce, up more than 1% this week after peaking above $3,791 on Tuesday. European diplomats warned the Kremlin this week that NATO was prepared to respond with full force to any further violations of its airspace, including the downing of Russian aircraft. In broader markets, Asian shares fell after US President Donald Trump escalated his trade war, announcing a 100% tariff on branded or patented pharmaceuticals, in addition to measures against a range of other goods, including heavy trucks, kitchen cabinets & bathroom sinks. Gold has been on a strong run this year, hitting consecutive highs, supported by sustained demand from central banks & the Federal Reserve's resumption of interest rate cuts. Prices are close to closing a third quarter of gains next week, with gold exchange-traded fund holdings hitting their highest level since 2022. Major banks, including Goldman Sachs, have forecast the rally will continue. After the Federal Reserve cut borrowing costs earlier this month, mixed signals have been issued regarding the next move. Fed Chief Banking Supervision Officer Michelle Bowman said Thursday that inflation was close enough to its target to warrant further rate cuts amid a weakening labor market. Gold was relatively steady at $3,749.04 per ounce at 9:03 a.m. Singapore time, up 43% since the beginning of the year. Economic Council: Iraq Investment Forum To Showcase Ready-Made Investment Opportunities. The Iraqi Economic Council confirmed, on Friday, that more than 150 investment opportunities in various sectors will be presented during the Iraq Investment Forum, which will be held in the capital, Baghdad, on September 27 & 28, 2025. The head of the council, Ibrahim Al-Baghdadi, told the official agency, “The forum will constitute an important event to showcase ready-made investment opportunities, as Iraq is considered a fertile ground for investment in many fields, as it enjoys an important geographical location. It is considered an important link for int' transportation routes & a promising virgin land rich in opportunities that represent investment projects with sustainable development dimensions, due to its natural resources & qualified human resources.” He added that "the conference is an effective platform for showcasing investment opportunities for various economic sectors provided by the National Investment Commission, a number of ministries & investment bodies in the governorates & the private sector." He explained that "the forum's agenda will include, over two days, key themes and dialogue sessions to highlight supportive measures & decisions that enhance the investment environment & promising projects & the role that Iraq plays regionally & globally in the energy, industry, agriculture, trade & transportation sectors, in support of the government's strategic vision in the process of advancing the country through sustainable development projects." He also explained that "the forum will address a number of important issues, including the Strategic Development Road project and new residential city projects that will provide more than 150,000 housing units, in addition to more than 150 investment opportunities in various economic sectors." He explained, Al-Shatri said in a press conference, “We confirm what the Iraqi government announced regarding reaching a comprehensive, professional & fair agreement with the Ministry of Natural Resources in the Kurdistan Region & with the companies operating & producing in the region’s fields, for the purpose of delivering the quantities of crude oil produced in those fields to the State Oil Marketing Company (SOMO), as well as pumping it to the Turkish port of Ceyhan; for the purpose of starting the regular & legal export process through that port in accordance with the global procedures, contracts & principles adopted by the State Oil Marketing Company.” He added, "The agreement stipulated that some quantities, around fifty thousand barrels per day, would be allocated for local consumption & managed by the Ministry of Natural Resources in the Kurdistan Region," noting that "this long-awaited agreement came to implement the 3-year federal budget law for the years 2023-2024-2025 & the latest amendment to the Budget Law for the year 2025, on the basis of which negotiations began that lasted for more than 30 months, in a professional, positive & nat'l atmosphere. The goal was to regain control & regulate the export of oil produced from the Kurdistan Region, primarily through the north, so that it could return to global markets in a sound & globally approved manner, with solid companies that were eagerly awaiting this agreement." "the sectors that will showcase their investment opportunities include oil and gas, renewable energy, transportation, heavy & medium industries, housing & real estate development, agriculture & livestock production, health & pharmaceutical industries, food industries, tourism and hotels, education & scientific research, in addition to communications and information technology & industries in free zones." He explained that "the agreement comes at a time when the European continent is in dire need of this type of oil as an alternative to the shortage in supplies from Russian oil & other sources," noting that "this oil will be available at the Ceyhan oil port. As is well known, this port is located on the Mediterranean Sea, which places it at the heart of the European market, with the possibility of supplying the North and South American markets from this port with ease, professionalism & transparency." He explained, "This agreement would not have been possible without the high professionalism, great support, insistence & patience in constructive negotiations, which took into consideration 1st & foremost, Iraq's interests as a single, unified country from north to south & its oil revenues, which are the primary source of support for the Federal Budget according to the laws, especially the latest Budget Law." He also noted that "the forum will provide ample opportunities for companies and businessmen to meet with global & regional banks & financing funds & to hold direct bilateral meetings with ministries & investment bodies in Iraq, in addition to presenting economic & investment meetings of regional & int'l interest." Tomorrow... Implementation Of The Agreement To Export Oil From The Kurdistan Region Of Iraq's Fields Begins. Kurdistan Director General of the State Oil Marketing Company (SOMO) Ali Nizar Al-Shatri confirmed on Friday that the implementation of the agreement to export oil from the Kurdistan Region’s fields will begin tomorrow, Saturday, noting that the proceeds will go to the Federal Budget. He explained, "The agreement included direct negotiations with the producing companies in the region, and they were reassured & a strict mechanism was reached to guarantee their entitlements according to the Budget Law. He stated, "The agreement stipulates that compensation will be in the amount of $16 per barrel delivered to the Oil Marketing Company & the amount will be deposited according to the global price in Iraq's account at the US Federal Bank in the full name of the CBI. "He indicated, "Compensation to the Ministry of Natural Resources in the Kurdistan Region will be in the amount of $16 per barrel & thus compensation will be in kind through barrels of oil produced from the same fields in the Kurdistan Region, according to the compensation & payment-in-kind mechanism in place globally & applied in the south with contracting companies." He added, "The produced barrels of oil are delivered to commercial companies that market them globally & the amounts are deposited into the regional government's account to compensate the producing companies for this amount." He pointed out that, "At this stage, a specialized international consulting firm will be contracted by the federal Ministry of Oil to re-evaluate production & transportation costs in the region's producing fields to determine whether these costs are higher or lower than $16 per barrel, which will be considered an advance. Therefore, compensation will be based on the consultant's decision retroactively from the date the oil was received by the Oil Marketing Company, which is expected to begin on the morning of September 27, 2025, at 6:00 a.m. He continued, "This agreement will not be temporary, but will establish long-term understandings & will serve as a final end to all the disputes we witnessed in the previous stage. It will also be a declaration of the seriousness of the federal government, the Kurdistan Regional Government & the companies operating in Iraq to commit to implementing it & ending all manifestations of disagreement, suspicion of smuggling, or production outside of government control." He concluded by pointing out that "the proceeds from this oil will go to the country's Federal Budget & will enable the Iraqi government to fulfill its financial obligations, duly approved & approved, for this year & the coming years." Evening Updates: Oil Surpasses $70, Its Highest Level Since August. Trading data on the London ICE Futures Exchange revealed on Friday that Brent crude oil futures for December 2025 delivery exceeded $70 per barrel for the 1st time since early August. According to the exchange data, at 17:03 Moscow time, Brent prices rose by 0.59% to $70.05 per barrel. By 17:18 Moscow time, Brent crude futures accelerated their rise to $70.34 per barrel, an increase of 1.01%. In contrast, West Texas Intermediate (WTI) crude futures for November delivery rose by 1.29% to $66.03 per barrel. Oil prices continued their gains in Asian trading on Friday morning, maintaining their highest levels in seven weeks and heading towards a strong weekly rise, amid concerns about Russian supply disruptions & a surprise drop in US crude oil inventories, which tightened market expectations. Brent crude futures for November delivery rose 0.3% to $69.6 a barrel, while West Texas Intermediate crude futures rose 0.4% to $65.2 a barrel this morning. Both benchmarks remain at their highest levels since early August & are set to jump more than 4% this week. Moscow said this week it would impose partial restrictions on diesel exports & extend a gasoline export ban until the end of 2025, in an effort to protect domestic fuel supplies.