Iraqi politician Zubaidi has warned about the risks of Iraq continuing to rely on foreign borrowing, arguing that loans from countries with political interests in Iraq could affect the country’s financial independence and sovereign decision-making.
Speaking on Tuesday, Zubaidi said Iraq lacks a fully independent monetary policy, making its economy vulnerable to outside influence. He claimed that foreign powers, particularly the United States, play a significant role in shaping aspects of Iraq’s economic and financial policies.
According to Zubaidi, loans from foreign countries may sometimes come with conditions that are not publicly disclosed. He warned that such arrangements could open the door to interference not only in economic matters but also in political decisions.
He argued that Iraq’s monetary policy has become increasingly influenced by external factors, reducing the country’s ability to make independent financial decisions based solely on its own national interests.
Zubaidi stressed that rebuilding an independent monetary policy should be a priority for Iraq. He said stronger financial independence would help protect the country’s economy from potential foreign pressure and give policymakers greater control over economic planning and resource management.
His remarks come amid broader debates about Iraq’s financial future and the government’s efforts to strengthen public finances. Concerns have also been raised over plans to establish an Iraqi sovereign wealth fund that could receive funding from foreign investors, including some Gulf countries.
Earlier, former MP Raed al-Maliki warned that relying on external funding for such a fund could reflect the scale of Iraq’s financial challenges and potentially limit the country’s freedom to make independent economic and political decisions.
The discussion highlights ongoing concerns among some Iraqi political figures about balancing the need for foreign investment and financial support while preserving national economic sovereignty and independent decision-making.
