Tishwash: The economic advisor to the Iraqi government: “The Ministry of Finance is moving towards a three-pronged emergency plan, and we have a financial gap of $9.5 billion per month.”
The financial advisor to the Iraqi government, Mazhar Muhammad Saleh, confirmed on Friday that Iraq is facing a financial gap estimated at about $9.5 billion per month as a result of the decline in oil exports, noting that the Ministry of Finance is moving towards preparing a three-year emergency plan to confront the current economic crisis.
Saleh said the anticipated plan includes domestic and foreign borrowing, along with maximizing tax and fee revenues, as well as proceeding with financial reforms aimed at enhancing economic stability.
He explained that domestic borrowing is a quick solution to cover salaries and operational obligations, while external borrowing provides dollar liquidity that contributes to supporting the state’s financial situation.
He pointed out that reforming the Rafidain Bank and the Rasheed Bank has become a necessity for developing development financing, digital and credit services, stressing that any emergency plan will not succeed without real financial reform that includes controlling operational spending and reducing waste.
Saleh explained that the current crisis represents a real test for the structure of the Iraqi economy, which is heavily dependent on oil, which calls for accelerating economic reform steps and diversifying revenue sources. link
Tishwash: Sovereign wealth funds… do they represent Iraq’s gateway to financial stability and sustainable development?
The Baghdad Center for Legal and Economic Development held an economic workshop today, Thursday, May 21, 2026, entitled:
“Sovereign Wealth Funds and Their Impact on Establishing Cash Liquidity,” presented by Professor Dr. Jaafar Talib Al-Jundail, and attended by a select group of academics, researchers, and those interested in economic and financial affairs.
At the beginning of the session, Professor Thamer Al-Haimas, Vice President of the Center, welcomed the attendees and Professor Dr. Jaafar Al-Jundail, stressing the importance of the topic at hand, due to its direct connection to the future of rentier economies, and to the ability of countries to manage their wealth and achieve financial and monetary stability and sustainable development.
In his opening remarks, Al-Haims pointed out that sovereign wealth funds are no longer just financial savings tools, but have transformed in many international experiences into strategic institutions for protecting the national economy, regulating liquidity, absorbing the effects of economic crises, and securing the rights of future generations, especially in countries that depend mainly on oil resources.
He also reviewed a part of Dr. Jaafar Al-Jundail’s scientific and academic career, pointing to his research and scientific contributions in the fields of economic thought, natural resource economics, energy and petroleum, as well as his extensive academic experience inside and outside Iraq.
For his part, Dr. Jaafar Al-Jundail delivered his lecture, in which he addressed the concept of sovereign wealth funds and their economic and financial objectives, drawing on the experiences of a number of countries that have succeeded in managing their financial surpluses and transforming them into tools for investment, development, and long-term monetary stability.
Al-Jundail stressed that the sovereign wealth fund is not just a savings vehicle, but a strategic tool for managing financial surpluses, reducing the effects of inflation, enhancing monetary stability, and providing safe liquidity for the state during crises and emergencies. He pointed out that Iraq needs a long-term economic vision linked to sound management, governance, and transparency in order to invest national wealth in a way that serves sustainable development and the rights of future generations.
The workshop witnessed interventions and discussions by a number of attendees, who presented their observations and insights on the reality of the Iraqi economy and the possibility of establishing effective sovereign wealth funds, while the lecturer answered various questions and inquiries, which enriched the workshop and opened the door to an important economic and knowledge-based dialogue.
At the end of the session, Dr. Ali Mahdi, the head of the center, presented a plaque of appreciation to Professor Dr. Jaafar Talib Al-Jundail, in recognition of his scientific contributions, academic contributions, and accumulated research experience in the field of economics and scientific thought. link
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Tishwash: Among them are members of parliament: The US Treasury sanctions nine individuals for allegedly facilitating Hezbollah activities.
The US Treasury Department announced on Thursday new sanctions targeting nine individuals accused of facilitating Hezbollah’s activities and undermining Lebanese sovereignty.
The sanctions package included members of the Lebanese parliament, the Iranian ambassador to Beirut, Mohammad Reza Raouf Sheibani, and Lebanese security officials, who it said “exploited their positions to support Hezbollah and obstruct efforts to disarm it.”
The US Treasury, in a statement translated by Shafaq News Agency, said that the sanctioned individuals “serve Tehran’s malicious agenda and impede the path to peace and recovery for the Lebanese people.”
In conjunction with these measures, the US State Department’s “Rewards for Justice” program has set up a financial reward of up to $10 million for any information leading to the dismantling of Hezbollah’s financial networks and mechanisms.
Washington issued a strongly worded warning that this step is “just the beginning,” vowing to hold accountable anyone who continues to provide cover for the party, cooperates with it, or undermines Lebanon’s sovereignty.
A statement issued by the US State Department stressed that Lebanon’s stability, security and independence require the complete disarmament of Hezbollah and the restoration of the Lebanese government’s exclusive and absolute authority over the security file throughout the country.
The statement concluded by reaffirming the United States’ commitment to supporting the Lebanese people and their legitimate institutions in building a more secure and prosperous future. link
Tishwash: Transportation: Commencement of the second phase of the trade exchange area
The Ministry of Transport has begun implementing the second phase of the trade exchange yard project located in the Al-Taji area at the entrance to Baghdad-Salah Al-Din, as part of its plans to develop logistical infrastructure and enhance trade exchange between governorates and border crossings.
The Director of the General Company for Land Transport affiliated with the Ministry, Murtadha Karim Al-Shahmani, said in an interview with the official newspaper, which was followed by “Al-Eqtisad News”, that the engineering and technical staff affiliated with the Ministry have actually started the work of the second phase of the project, which extends over an area of (387) dunams, indicating that the work is taking place in parallel with the completion of the contracting procedures for the commercial exchange square project at the entrance to Baghdad – Al-Kut, which has an area of about (210) dunams.
He added that the trade exchange yards projects are witnessing remarkable progress in completion rates, especially the projects surrounding the city of Baghdad, which are known as “retail” projects, noting that these projects represent an important step to support the land transport sector and regulate loading and unloading operations, as well as their role in reducing congestion within the capital and enhancing the efficiency of logistical services.
Al-Shahmani explained that the ministry is preparing to begin work on the Baghdad-Kirkuk trade exchange yard project, which covers an area of (350) dunams, after obtaining official approvals and no objection from the relevant government agencies to allocate the land and implement the project, noting that this project will constitute an important addition to the commercial transport network in the country.
He pointed out that the project for the trade exchange yard at the entrance to Baghdad – Anbar – Babylon has reached very advanced stages of implementation, especially after the start of work to connect the yard with the international road, which will contribute to facilitating the movement of trucks and goods, and achieving greater smoothness in transportation and trade exchange operations between the governorates.
Regarding the trade exchange yards projects at the border crossings, Al-Shahmani affirmed that the Ministry continues to follow up on the procedures related to the Shalamja, Al-Shaib, Arar and Trebil yards projects, while working to study the technical and administrative obstacles that may face the implementation phases, and finding appropriate solutions to ensure the completion of these projects according to the specified time plans, in order to enhance the role of the border crossings in supporting the national economy and stimulating regional trade link
