Tishwash: Iraqi Embassy in Washington: Iraq is not subordinate to any country’s policy.
The Iraqi embassy in Washington confirmed on Wednesday that Iraq is not subordinate to any country’s policies.
The embassy said in a statement received by ( IQ ): “In response to the statements made by the US State Department spokesperson during her recent press conference, we affirm that Iraq is a fully sovereign state and has the right to conclude agreements and memoranda of understanding in accordance with the provisions of its constitution and national laws, and in a manner consistent with its supreme interests.”
He added, “Iraq enjoys friendly and cooperative relations with a large number of countries around the world, including its geographical neighbors, the United States of America, and other friendly countries, and is keen to build these relations on the foundations of mutual respect and common interests,” stressing that “Iraq is not subservient to the policies of any country.”
She pointed out that “Iraq’s decisions stem from its independent national will. In this context, the security agreement recently signed with Iran comes within the framework of bilateral cooperation to maintain security and control the common border, in a way that achieves the stability and security of the two countries and serves the security of the region as a whole link
Tishwash: The Central Bank of Iraq discusses the banking reform plan with Oliver Wyman.
On Tuesday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, discussed with the international company Oliver Wyman the details of the banking reform plan submitted by the Iraqi Private Banks Association, as part of efforts to develop the banking sector and align it with international standards.
The Central Bank stated in a statement received by Shafaq News Agency that Al-Alaq and the relevant team held a meeting with Oliver Wyman to discuss what was stated in the letter of the Iraqi Private Banks Association regarding the banking reform plan.
Al-Alaq confirmed in the statement that the Central Bank had completed an extensive discussion, during which attendees expressed an understanding of the points contained in the letter and ways to flexibly adapt some of the plan’s provisions to facilitate implementation. The company has begun studying available avenues to present the best proposals and ideas in this regard as soon as possible.
The statement continued, “This is confirmed by what the bank announced during the months-long plan preparation period, which stated that the goal of the plan is to achieve a real project to build and stabilize the banking sector to operate safely and effectively in accordance with international practices and standards and local laws, in order to enhance governance, compliance, and risk management, to transition banks to an economic role that enhances the development process and provides services with the highest levels of efficiency and effectiveness, using the best practices and modern technologies.”
The bank emphasized that the plan would “enhance local and international confidence in the Iraqi banking sector, particularly since implementing the plan and adhering to its provisions will lead to the restoration of relationships between all banks that meet the plan’s requirements and internationally accredited correspondent banks, particularly those that do not currently have international banking relationships.” link
************
Tishwash: The Ministry of Finance postpones the submission of the 2025 budget schedules, and first-half revenues exceed 60 trillion dinars.
Financial and economic affairs expert Haider Al-Sheikh revealed today, Tuesday (August 12, 2025), that the Ministry of Finance informed the General Secretariat of the Council of Ministers of postponing the submission of the federal budget tables for the year 2025.
In an interview with Baghdad Today, Al-Sheikh said, “The Ministry of Finance has officially informed the General Secretariat of the Council of Ministers that it will postpone sending the schedules for the draft federal budget law for 2025 until the relevant authorities complete the audit of the allocations.”
He explained that “the Prime Minister’s directive to the Ministry of Finance to release bonuses, promotions, and service calculations for state employees, as well as the Ministry of Finance’s letter to the General Secretariat of the Council of Ministers, confirm that there are no budget schedules for this year.”
He added, “Oil and non-oil revenues generated from January to July 2025 amounted to more than 60 trillion dinars, an amount sufficient to pay employee salaries as planned in last year’s operating budget.”
He stressed that “oil and non-oil revenues are expected to reach more than 130 trillion dinars by the end of this year, sufficient to pay the salaries of employees and retirees, the social safety net, in addition to food ration card and energy bills, and operating expenses.”
The federal budget preparation process in Iraq faces recurring challenges, most notably the volatility of global oil prices, political pressures over allocations, and technical issues in auditing government spending. Delays in submitting budgets to the Council of Ministers and then Parliament often lead to the disruption of investment projects and the postponement of development plans. Meanwhile, the government continues to rely on operating expenses to cover salaries and basic expenses, a pattern that occurred in previous years when budgets were approved in the second half or even at the end of the year. link
