Clare: Iraq Budget Bill Sent Back to Finance Ministry for Revisions
The 2027 draft budget bill has been returned to the Ministry of Finance to conduct necessary modifications and revisions
Clare: The head of the International Monetary Fund pledges “strong” support for Iraq.
10/17/2026
The head of the International Monetary Fund, Kristalina Georgieva, announced on Saturday that the Fund intends to “strongly” support Iraq through a much-needed loan program.
“We will provide Iraq with financial and policy support,” Georgieva explained at a closing press conference of the annual meetings of the International Monetary Fund and the World Bank in Bangkok.
Regarding Lebanon, Georgieva confirmed that the Fund is conducting intensive discussions with the Lebanese authorities, reflecting significant progress towards approving a loan program.
She continued, “We have made great progress in the program, and there is still some joint work ahead of us, but I am confident that we will succeed in this matter.”
It is noted that the Iraqi Minister of Finance, Faleh Al-Sari, participated in the annual meetings of the International Monetary Fund and the World Bank Group, currently being held in the Thai capital, Bangkok, as part of strengthening cooperation with international financial institutions and supporting the path of economic and financial reform in Iraq.
Sarri had held a series of meetings with officials of the International Monetary Fund, beginning with a meeting with the Fund’s Executive Director for Iraq and the region, Mohamed Maait, and the incoming Executive Director, Ali Al-Hosni, in the presence of the Governor of the Central Bank of Iraq, Nizar Nasser Hussein, where the economic and financial conditions in Iraq were discussed, and views were exchanged on reform priorities and ways to enhance joint cooperation. LINK
**************
Clare: IMF Offers Iraq Financial Support As US Sanctions On Iraqi Bank Trigger Depositor Crisis
Kurdistan 24 exclusively reveals the sanctioned International Development Bank holds 2.6 trillion dinars in total deposits, with 1.5 trillion belonging to citizens and traders, as mass withdrawals are expected Sunday in scenes reminiscent of the recent Islamic Taif Bank crisis
ERBIL (Kurdistan 24) –
IMF Managing Director Kristalina Georgieva announced on Saturday that the International Monetary Fund intends to provide strong financial and policy support to Iraq through a lending programme, as Kurdistan 24 exclusively revealed that US sanctions imposed on Iraq’s International Development Bank have placed approximately 1.5 trillion dinars in citizen and trader deposits at risk, with a major depositor crisis expected to begin Sunday.
Georgieva made the announcement at a press conference following the decision to provide the support at the annual joint meetings of the IMF and World Bank Group in Bangkok, Thailand. “The fund intends to provide strong financial and policy support to Iraq through a necessary lending programme,” she said.
Iraq’s Finance Minister In Bangkok
Iraqi Finance Minister Falah Sari led a delegation that included Central Bank of Iraq Governor Nizar Hussein to the annual IMF and World Bank Group meetings in Bangkok. The purpose of the participation was to strengthen coordination with international financial institutions and support the trajectory of economic and financial reform in Iraq.
On the sidelines of the meetings, the Finance Minister held a series of meetings with IMF officials including Mohammed Muait, the fund’s Executive Director for Iraq and the region, and Ali Hussaini, the incoming Executive Director, during which Iraq’s economic and financial situation was discussed and views exchanged on the progress of reforms and ways to strengthen bilateral cooperation.
The International Development Bank Crisis
While Iraq’s Finance Minister was meeting IMF officials in Bangkok, a separate and acute financial crisis was developing at home. Kurdistan 24’s economic desk exclusively confirmed that the total deposits in Iraq’s International Development Bank reached 2.6 trillion dinars as of the end of March 2026. A source inside the bank told Kurdistan 24 that citizen and trader savings and deposits are estimated at approximately 1.5 trillion dinars.
Mass withdrawals are expected to begin Sunday, October 18, 2026, as depositors rush to recover their funds, creating a major crisis similar to the one that recently struck Islamic Taif Bank in Iraq over the past few weeks.
The US Treasury imposed sanctions on the International Development Bank in recent days, stating that the bank facilitated Iran’s access to US dollars and accusing it of having connections to Iran-aligned armed groups operating in Iraq. The bank rejected all the accusations in a statement, saying it continuously complies with the regulations of the Iraqi Central Bank and with international laws.
As a result of the sanctions, all of the bank’s assets and funds abroad are frozen and placed under American control, severely reducing the bank’s capacity to return depositors’ money. The bank provides several services to citizens and companies and participates in the Tatwir project for the electronic salary disbursement of Iraqi government employees, meaning that government workers who receive their salaries through the bank now face serious difficulties.
The Central Bank of Iraq, in coordination with the United States, has previously imposed sanctions on more than 14 other Iraqi banks with the aim of preventing the transfer of dollars to sanctioned parties. The International Development Bank is the latest in a series of Iraqi financial institutions to face American enforcement action under the broader Operation Economic Outcast framework targeting institutions that facilitate Iranian access to the US dollar system.
Courtesy of Dinar Guru: https://www.dinarguru.com/
Reset Intelligence 1,500 is the rate Iraq uses at home for its budget and its banks. It is not an international rate, and it is not the number a holder outside Iraq has been waiting for.
Militia Man The cabinet is now complete… Officials keep using the words ‘Next Stage’…I’ve talked about words and when you see consistent patterns, that’s important…Al-Zaidi confirmed the cabinet is now full…Minister of Defense…Minister of Interior…those are two key components the gatekeepers wanted to see…The government can move ahead with full steam…It does not change the official rate by itself. It does remove a major source of delay…
Stephen No one knows the date, no one knows the rate…But we do have a lot of exciting things going on right now. It does seem we are getting pretty darn close to the finish line…I believe we are getting ready to see it come to fruition…
Jeff This beast is done! Welcome to Iraq having a formed movement meaning Iraq will be eligible to change the rate for all of us starting this weekend on Saturday the 17th if they choose…The government is done. They’re got their constitutional oath when they’re voted in…They voted them all in at one time. It’s one and done…
************
SILVER ALERT! Elon’s Car Flies… but When is SILVER Going to FLY?!
(Bix Weir) 10-16-2026
The FUTURE has definitely arrived…but we need a hell of a lot of silver to make it work!
