Economist: Iraq Does Not Have A Sovereign Wealth Fund, And Its Mission Is Handled By The Central Bank.
Time: 2025/09/16 Reading: 405 times {Economic: Al Furat News} An economic expert confirmed that Iraq currently lacks a sovereign fund dedicated to achieving economic stability.
Salah Nouri explained to Al Furat News Agency that “the Central Bank of Iraq is currently handling the tasks of this fund.” He also pointed out that the Iraq Development Fund, which was established in 2024 with the aim of supporting economic development by attracting foreign investment, has yet to show tangible results due to its recent establishment.
In recent years, the Iraqi economic arena has witnessed intense discussions about the importance of establishing a sovereign fund entrusted with developing and investing the state’s financial resources over the long term. This step comes amid the government’s efforts to diversify sources of income and reduce dependence on oil as the main source of the budget.
The idea of establishing this fund did not arise suddenly; rather, it goes back to the aspirations of previous governments, which were unable to bring this project to fruition.
A sovereign wealth fund is an investment fund that manages the state’s financial surpluses through assets outside its borders. However, it is not affiliated with the Ministry of Finance or the Central Bank, and it differs from foreign exchange reserves.LINK
A Government Advisor Proposes Establishing A Sovereign Fund For Non-Oil Raw Materials.
Time: 2025/09/16 Reading: 525 times {Economic: Al Furat News} Economic expert Mazhar Mohammed Saleh emphasized the importance of establishing an Iraqi sovereign fund specializing in non-oil and gas natural resources as a strategic tool to maximize added value and diversify sources of national income.
Saleh told Al Furat News Agency that this fund, which differs in its objectives from the Central Bank of Iraq’s investment portfolio, which focuses on cash, will employ financial surpluses generated from raw materials such as phosphates, sulfur, and iron to develop manufacturing industries.
He stressed that the primary goal is to export semi-finished or finished products instead of raw materials, thus strengthening Iraq’s position in regional markets.
The economic expert explained that the proposal is based on several fundamental principles, including maximizing local added value by investing the fund’s revenues in industrial production chains, and supporting the diversification of the national economy by directing these investments toward vital sectors such as agriculture, industry, and renewable energy. He also noted that the fund will serve as sustainable financing for the general budget, reducing reliance on borrowing and deficit financing.
Saleh reviewed successful international experiences in this field, such as the Norwegian Government Pension Fund, Singapore’s GIC and Temasek funds, and the Abu Dhabi Investment Authority in the UAE, emphasizing the need to adopt global best practices in management, governance, and transparency.
Regarding the expected outcomes, Saleh explained that establishing the fund will reduce reliance on oil as the sole source of income, support financial stability, and attract foreign direct investment in partnership with the fund.
To realize this vision, Saleh called for urgent practical steps, including drafting a law for the fund, forming an independent founding body of experts, and incorporating the proposal into the government program and Iraq’s national development vision. This will ensure the implementation of this strategic tool, which represents a cornerstone of a sustainable future economic vision. LINK
Oil Prices Stabilize Amid Potential Russian Supply Disruption
Tuesday, September 16, 2025 | Economic Number of reads: 189 Baghdad / NINA / Oil prices stabilized in early trading on Tuesday, after rising in the previous session, amid market participants’ expectations of a possible supply disruption from Russia.
Brent crude futures rose 4 cents to $67.48 a barrel, while US West Texas Intermediate crude reached $63.32, up 2 cents.
Brent crude rose 45 cents at settlement on Monday to $67.44, while US West Texas Intermediate crude rose 61 cents to $63.30.
Traders are also awaiting the Federal Reserve meeting, in which the US central bank is widely expected to cut interest rates. Lower borrowing costs could boost fuel demand. /End https://ninanews.com/Website/News/Details?key=1252123
Al-Mandlawi Stresses The Importance Of Consolidating The Strategic Relationship Between Baghdad And Washington.
Tuesday, September 16, 2025, 2:40 PM | Politics Number of reads: 361
Baghdad / NINA / First Deputy Speaker of Parliament Mohsen Al-Mandalawi Al-Mandalawi stressed the importance of consolidating the strategic relationship between Baghdad and Washington.
His media office said in a statement, “Al-Mandlawi received today, Tuesday, the Chargé d’Affaires of the US Embassy in Baghdad, Joshua Harris, and his accompanying delegation, to discuss ways to enhance bilateral relations between Iraq and the United States, and to discuss the most prominent issues of common interest.
During the meeting, Al-Mandlawi stressed the importance of consolidating the strategic relationship between the two countries on the basis of mutual respect and common interests, stressing the need to expand areas of cooperation to serve the stability and prosperity of Iraq, and support development and reform efforts.
The statement added, “The current regional and international developments were reviewed, as Al-Mandlawi stressed the importance of continuing dialogue and coordination to confront the security and political challenges in the region, and working together to prevent the escalation of conflicts and achieve stability.
The First Deputy Speaker of the House of Representatives called on the international community, especially the United States, to exert serious and effective pressure on the Zionist entity in order to end the suffering of the Palestinian people in Gaza, who are subjected daily to policies of starvation, forced displacement and a systematic war of extermination, stressing that Iraq’s position is firm in defending the legitimate rights of the Palestinian people and supporting their just causes.
For his part, the US Chargé d’Affaires expressed his country’s keenness to develop cooperation with Iraq in various fields and support the efforts of the House of Representatives and the Iraqi government in promoting stability and development, pointing to Iraq’s active role in consolidating regional and international security, and affirming its position as a responsible partner in supporting stability and peace. /End https://ninanews.com/Website/News/Details?Key=1252187
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