An Economist Predicts The Next Government Will Change The Dollar Exchange Rate, And Explains The Reasons.
Time: 2025/08/20 Reads: 3,240 Times {Economic: Al Furat News} Economists expect the next government to resort to an official devaluation of the Iraqi dinar against the US dollar, as a potential solution to address the increasing financial burdens, most notably the massive government payroll.
Economic expert Nabil Al Marsoumi told Al Furat News that “the payroll accounts for the largest portion of oil revenues, leaving little for upgrading infrastructure or basic services.”
Al Marsoumi believes that devaluing the currency will provide greater financial revenues in dinars, which will help the government cover salary expenses.
He added that this option may be one of the necessary measures the new government may take, especially in light of the current oil prices that threaten to hinder the country’s economic development prospects.
Experts emphasize that sustainable solutions lie in diversifying sources of public revenue and
eliminating total reliance on oil, in order to ensure long-term stability for the Iraqi economy.
https://alforatnews.iq/news/خبير-اقتصادي-يتوقع-توجه-الحكومة-المقبلة-لتغيير-صرف-الدولار-ويوضح-الأسباب
New Deadline For Iraqi Banks To Lift Sanctions
Economy | 22/08/2025 Mawazine News / Follow-up Iraqi banks granted a “rescue period” after they rejected Oliver Wyman‘s plan.
Following sharp disagreements between the- Iraqi Private Banks Association and the Central Bank of Iraq, and their rejection of the banking reform paper approved by the bank based on a plan by the
American consulting firm Oliver Wyman, and Al-Sudani’s resort to Washington in search of a solution,
Oliver Wyman approved amendments to its terms as part of a “rescue plan” for the banks,
which included the following:
The deadline for submitting pledges has been extended to September 30,
instead of the end of August, in consideration of “flexibility” in implementing the banking reform plan.
– Expanding the timeframe for increasing capital from 200 to 400 billion,
gradually over four phases, at a rate of 50 billion dinars annually until 2028.
– Raising the requirements for family ownership from 10% to 40% of a bank’s portfolio, which will give private banks greater opportunities to engage in the reform plan and escape the restrictions on dollar transactions imposed by the Federal Reserve and the Treasury Department, by early 2029.
Banks that fail to join the reform process will be allowed to operate exclusively in Iraqi dinars,
without their licenses being revoked. https://www.mawazin.net/Details.aspx?jimare=265562
L-Ghariri: Iraq Is Now In An Advanced Position To Join The World Trade Organization.
Friday, August 22, 2025 | Economic readings: 565 Baghdad / NINA / Minister of Trade Athir Al-Ghariri announced that
Iraq has completed the technical files to join the World Trade Organization.
Al-Ghariri said in a statement: “Iraq has completed all the technical files required to join the World Trade Organization, after a negotiating process that spanned more than twenty years, during which Iraq faced numerous challenges and delays.”
He added, “This achievement was made during the lifetime of the current government, through intensive qualitative efforts that surpassed what was accomplished in all previous stages combined,” stressing,
“Iraq is now in an advanced position paving the way for fulfilling the requirements for full membership.”
The Minister of Trade explained:
“The national team concerned with accession, in coordination with the relevant ministries and
sectoral bodies and in partnership with international institutions, has completed the review and updating of all technical files, which include: the foreign trade system memorandum, the legislative implementation plan, agricultural support tables, the import licenses file, customs valuation, in addition to the sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) files.”
He continued: “The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization,
while the Iraqi customs system was updated to the latest version in line with international standards and enhancing Iraq’s readiness for the next stages.”
He stressed: “The files will be officially submitted to the World Trade Organization Secretariat
through diplomatic channels, in preparation for the next meeting of the working group.”
https://ninanews.com/Website/News/Details?Key=1247648
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