Tishwash: Iraq seeks to strengthen long-term economic partnership with Brazil
On Thursday, Minister of Commerce Athir Al-Ghurairi discussed ways to strengthen the economic and trade partnership with Brazil, signing a contract with his Brazilian counterpart, Geraldo Alckmin, during his visit to the country.
Al-Ghariri said in a statement received by Al-Akhbari: “The government is keen to expand cooperation with Brazil and strengthen economic partnerships with them.”
He added that “the possibility of supplying the Brazilian side with shipments of Iraqi oil was discussed, within the framework of bilateral cooperation and meeting the Brazilian market’s energy needs,” stressing “the importance of building a long-term strategic partnership based on shared interests and mutual opportunities.”
The Minister of Trade affirmed “Iraq’s readiness to provide all possible facilities to Brazilian investors,” calling for “the organization of a comprehensive exhibition of Brazilian industries in Baghdad to serve as a platform for promoting Brazilian products and expanding the base of trade and investment cooperation.”
He pointed out that “there are significant opportunities, supported by sovereign guarantees provided by the Iraqi government to Brazilian companies, to encourage real partnerships with the Iraqi private sector.” link
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Tishwash: A representative reveals the reason for the government’s withdrawal of tax funds: The US Federal Reserve has stopped transferring funds to Iraq.
Iraqi parliament member Dr. Raed Hamdan al-Maliki described the United States’ control over the transfer of Iraqi oil export revenues as “the greatest violation of the country’s sovereignty,” calling on the Iraqi government to tell the truth to the people.
In a tweet on his official X (formerly Twitter) account, followed by Iraq Observer, Maliki said that the government’s withdrawal of tax funds and their use to cover operating expenses was due to the US Federal Reserve’s suspension of oil revenue transfers.
He added, “It appears that the government’s reason for withdrawing tax trust funds and using them to cover operating expenses is due to the US Federal Reserve’s suspension of the transfer,” referring to US measures restricting the movement of Iraqi funds held in international bank accounts.
Al-Maliki called for an end to this situation, saying, “This matter must end, and the government must tell the people the truth.”
The Council of Ministers had previously, in an official decision, authorized the Minister of Finance to withdraw tax deposits less than five years old to finance and pay salaries for April and subsequent months.
The Ministry of Finance is scheduled to deposit the amount later, as needed, for the state’s total. Cash settlements will be made monthly upon request by reversing the deposit amount from the actual monthly revenues collected when conducting tax accounting, according to the decision. link
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Tishwash: Your deposits are safe: Iraq clarifies bank withdrawals
Iraq’s Finance Ministry dismissed allegations that recent withdrawals from state-owned banks involved citizen deposits, stressing that the transactions used sovereign funds and were carried out in line with federal budgetary procedures.
The ministry clarified in a statement that the funds withdrawn from Al-Rafidain and Al-Rasheed banks were held temporarily for “operational purposes” and reallocated according to administrative and financial instructions tied to the national budget.
The statement followed accusations by several lawmakers, local media outlets, and social media figures alleging that the government had accessed trillions of dinars from public deposits to address fiscal pressures. Some critics drew parallels to foreign banking collapses, prompting concerns over Iraq’s financial stability.
“These funds are not linked to individual accounts or depositors’ savings,” the ministry stated, rejecting the comparisons as “inaccurate and misleading.” It emphasized that Iraq’s banking sector operates under a distinct legal framework and is regulated by the Central Bank, which enforces strict compliance and governance measures.
Officials reported that Al-Rafidain and Al-Rasheed remain financially stable, continuing to disburse salaries, finance public projects, and fulfill obligations to clients. Al-Rafidain Bank holds approximately 9 trillion Iraqi dinars ($6.9B) in legal reserves with the Central Bank.
A document dated April 24 confirmed Al-Rafidain held 4.277 trillion dinars ($3.3B) in unused reserves and 4.263 trillion ($3.25B) in used reserves—totaling over 8.54 trillion dinars ($6.52B)—all of which remain intact, according to the ministry.
Addressing earlier embezzlement incidents, the ministry attributed those cases to prolonged dormancy in escrow accounts, which had been exploited by corrupt networks, noting that new oversight procedures had been introduced in coordination with state banks to strengthen controls and mitigate risks.
The ministry warned that continued dissemination of false claims could damage public confidence and distort perceptions of recent economic progress, highlighting that Iraq’s fiscal reforms and improved transparency had received praise from international institutions, contributing to better credit ratings and increased investor engagement.
Reaffirming its economic policy direction, the ministry called on media professionals and social media users to verify claims and act responsibly. “All official data remains accessible for professional and public review through the ministry and banking channels.” link
