Tishwash: Government: Iraq has foreign exchange reserves exceeding $100 billion, covering its external debt many times over.
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Thursday that Iraq’s external debt is at its lowest level compared to many neighboring countries.
Saleh said in a statement to the official agency, followed by (Al-Rabia): “The general indicators of the Iraqi economy have witnessed an improvement during the past two years, thanks to a number of intertwined factors
The most important of which is the relative stability of oil revenues at acceptable levels, which provided a stable funding base for the general budget, and improved management of public spending by re-prioritizing reconstruction and infrastructure projects, and focusing on the service and production sectors within the government program.”
He added, “This came alongside the activation of financial and administrative reform tools launched by the Central Bank and the Ministry of Finance, whether through electronic payment systems, expanding the non-oil revenue network, or controlling border crossings and customs through automation, in addition to stabilizing the exchange rate and controlling inflation within globally acceptable limits, which has strengthened monetary and financial confidence in the national economy.” link
Tishwash: Iraq is preparing to launch an international conference to market investment opportunities on the path to development
The Iraq Fund for Development revealed its expectations that the volume of investments in the Development Road project will reach about (150) billion dollars, subject to increase in the coming years, stressing that the project constitutes a qualitative economic shift that will redraw the map of investment in Iraq and the region, and open new horizons of cooperation with international partners.
The head of the fund, Mohammed Al-Najjar, said, “Major changes are looming on the horizon for the Iraqi economy, with investments in the project expected to reach about (150) billion dollars, most of which are partnerships between Iraq and international companies within a safe and attractive investment environment.”
He added, “The Fund is planning to launch an international investment conference to market the project, which may be held at Al-Faw Port or in the form of a global tour to present investment opportunities to governments, sovereign funds and major companies.”
Al-Najjar pointed out that “the development road project includes an integrated economic system that includes transportation, industry, energy, agriculture, housing and logistics services, on an area of about (24) thousand square kilometers, which is equivalent to the area of Belgium, which allows the establishment of industrial and residential cities and modern production projects.”
The head of the fund confirmed “the exclusion of any financial or financing obstacles, noting that the government has established an independent legal framework to manage the project, ensure transparency and protect investors’ rights, while closely monitoring all specialized opportunities within the various sectors, including oil and gas, industry and agriculture.” link
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Tishwash: The Swiss Embassy reopens in Baghdad after 30 years of closure: a step towards strengthening bilateral relations.
The Swiss embassy in Baghdad was officially reopened on Thursday, in the presence of Iraqi Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and Swiss Foreign Minister Ignazio Cassis. The event was described as a turning point in relations between Iraq and Switzerland, after a three-decade hiatus.
The opening ceremony was attended by a number of senior Iraqi officials and members of the Swiss delegation. In his speech, Minister Fuad Hussein emphasized that this step reflects the international community’s confidence in the stability Iraq is experiencing. It also paves the way for expanding political and economic cooperation and opening the doors to investment for Swiss companies in the Iraqi market.
For his part, Swiss Minister Ignazio Cassis welcomed the return of Swiss diplomatic representation to Iraq, stressing that his country views Iraq as an important partner in the region and that the opening of the embassy reflects Switzerland’s commitment to supporting stability and development efforts in the Middle East.
This opening marks the culmination of a process of diplomatic rapprochement between the two countries and a step toward a more cooperative and partnership-based future. link
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Tishwash: Al-Sudani: The government has achieved an economic transformation, with international accolades, in less than three years.
Prime Minister Mohammed Shia al-Sudani affirmed on Thursday that the Iraqi government has achieved a real economic transformation in less than three years, as attested by international institutions. He noted that the results of the reforms adopted will become clear in the coming years.
During his reception of sheikhs and dignitaries of the Al-Izirj clan in Baghdad, according to a statement from his media office, Al-Sudani said, “The results of the sixth parliamentary elections will either establish stability that preserves what has been achieved during this period, or lead to regression and squandering of the achievements.” He pointed out that “there are those who practice lying, deception, and distortion in an attempt to influence the achievements made and confuse the scene.”
He continued, “Our government came into office during difficult circumstances, and from the first day of its term, it began addressing citizens’ needs and priorities.” He noted that “the government took an important step in appointing graduates and securing permanent contracts and lecturers.”
He pointed out that “the services file was a priority in our work through service efforts, completing stalled and suspended projects, and launching new projects in Baghdad and the governorates.”
He added, “The ballot boxes will determine how the country will be run for the next four years, and voters must carefully choose who will represent them in the House of Representatives.”
He pointed out that “we have preserved Iraq’s security and stability, avoiding any emotional stances, while maintaining our principled position in support of the Palestinian cause.” link
