Economist: Controlling Exchange Rates Is The Responsibility Of The Central Bank, And The Challenges Facing Banks Continue.
Time: 2025/10/03 16:11:39 Reading: 90 times Economic: Al Furat News} Economic expert Salah Nouri affirmed on Friday that the financial system and exchange rate control are among the primary responsibilities of the Central Bank of Iraq, noting that the bank faces numerous challenges in this area.
Nouri told Al Furat News Agency, “The Central Bank faces challenges in light of the fact that many private banks operate outside its controls and conditions, in addition to the conditions set by the US Federal Reserve regarding foreign currency transfers.”
He added, “Controlling exchange rates in the parallel market is difficult to completely eliminate.
Rather, the solution lies in reducing price fluctuations through the flexibility of the central bank‘s tools in response to global fluctuations.”
Nouri continued, “Private banks’ response and adaptation to the Central Bank‘s lending instructions contributes to revitalizing the Iraqi economy.
” He explained that “the instructions for external financial transfers for import purposes are similar to the US Federal Reserve‘s procedures in this area, which requires private banks to ully adapt and comply with the Central Bank‘s instructions.” https://alforatnews.iq/news/خبير-اقتصادي-ضبط-أسعار-الصرف-من-مهام-البنك-المركزي-وتحديات-المصارف-مستمرة
Revealing US Efforts To Ensure Continued Kurdistan Oil Exports
October 3, 2025 Washington / Iraq Observer follow-up The Trump administration is working to ensure continued oil exports from northern Iraq— resumed after a two-year hiatus—in the long termto support the country’s economy,generate gains for American companies, andcounter Iran’s influence in the region.
According to a report published by the Asharq Al-Awsat website, the United States is focused on ensuring the implementation of the oil export agreement and fulfilling its financial obligations, according to a senior US State Department official who requested anonymity due to the confidentiality of the talks. The official added that
Washington has been working over the past weeks to bring international oil companies together with the Iraqi and Kurdish governments, an effort that included hundreds of phone calls and meetings that paved the way for reaching the agreement.
The United States‘ role in resuming shipments through the pipeline to Turkey’s Mediterranean coast also enhances the agreement’s long-term sustainability.
The current agreement is only valid until the end of the year, during which the parties are scheduled to hold talks on the companies’ dues, amounting to hundreds of millions of dollars, while Türkiye is pushing for new terms for the transportation of crude.
Secretary of State Marco Rubio explained last week in a post on the X platform hat the agreement “will deliver tangible benefits to both Americans and Iraqis, while reaffirming Iraq’s sovereignty.”
According to Iraqi and Kurdish officials,US pressure was a decisive factor in reaching the export agreement, and Washington is now seeking to transform it into a long-term agreement that also protects the interests of American companies. https://observeriraq.net/الكشف-عن-سعي-امريكي-لضمان-استمرار-صادر/
UN Warns Of Iraq’s Reliance On Oil To Secure Salaries
October 4, 2025 New York / Iraq Observer follow-up The United Nations Development Programme warned on Saturday that Iraq’s continued dependence on oil to secure salaries.
“The Iraqi state‘s near-total dependence on oil and the salaries of 8 million government employees is hampering any real path to sustainable development,”
said Abdullah Al-Dardari, Assistant Secretary-General of the United Nations,
Assistant Administrator and Director of the Regional Bureau for Arab States at the United Nations Development Programme.
He called for”investment in infrastructure, agriculture, renewable energy, and technology as essential pillars of economic diversification.” https://observeriraq.net/تحذير-اممي-من-اعتماد-العراق-على-النفط-ب/
Oil Minister: More Than One Million Barrels Have Been Received From The Region So Far.
Saturday, October 4, 2025, | Economics Number of reads: 245 Baghdad / NINA / Oil Minister Hayan Abdul Ghani announced, on Saturday, the receipt of more than one million barrels from the region so far, while confirming the loading of the first tanker with the region’s oil into the port of Ceyhan.
Abdul Ghani said, according to the official agency: “Several days ago, the process of pumping oil from the Kurdistan region towards the port of Ceyhan was resumed via the Iraqi-Turkish pipeline after a halt of more than two years for this pipeline,” noting that “for the first time, the federal government receives oil produced in the region and undertakes the process of exporting it outside Iraq.” He added that “the quantities received so far have reached more than one million barrels.” / End
https://ninanews.com/Website/News/Details?key=1255216
Iraq Jawad Al-Samarraie October 4, 2025 Mohammed Najjar, Advisor To The Prime Minister And Executive Director Of The Iraq Development Fund
Baghdad (IraqiNews.com) – The economic study for Iraq’s ambitious Development Road project is complete,revealing highly promising results, including a forecast of 1.6 million new job opportunities.
The CEO of the Iraq Development Fund, Mohammed Al-Najjar, announced today,Friday (October 3, 2025), that the strategic corridor is projected to attract up to $150 billion in investments over the next three decades, a sum expected to match or exceed Iraq’s oil revenues.
Al-Najjar affirmed that the Development Road represents the strategic core of Iraq’s Vision 2050, aiming to transform the country from a landlocked state into a global economic corridor.
He noted that the project is not just a transport route but a comprehensive strategic channel comprising railways, dry ads, pipelines for oil, gas, electricity, and internet, along with the establishment of new economic cities.
The project is now entering its execution phase, with the next step being an international ministerial meeting to brief partner countries on the completed technical and economic studies.
Al-Najjar confirmed that the economic assessment by the consulting firm Oliver Wyman is finalized,
revealing the massive job creation potential.
Following the ministerial meeting, the study will receive final approval, followed by the launch of a major campaign to invite international investors.
Al-Najjar stressed that international interest in the project has significantly increased.
He disclosed that specialized global infrastructure funds and the European Union have submitted formal requests to participate.
The next steps also include establishing two key entities: a commercial company to handle the project’s business aspects and a governmental body to manage its sovereign affairs.
The entire 1,200-kilometer project will officially commence once the Grand Faw Port enters service, marking the primary starting point for the new global trade route.
https://www.iraqinews.com/iraq/development-road-project-1-6-million-jobs-150-billion-investment/
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