Friday “Iraq News” Posted by Tishwash at TNT 6-5-2026

TNT:

Tishwash:  MP: The coordination framework supports holding an extraordinary session to complete the vote on the government.

 On Thursday, June 4, 2026, MP Ibtisam Al-Hilali, from the State of Law Coalition, revealed a political movement led by the Coordination Framework forces to hold an extraordinary session of the House of Representatives to complete the vote on the vacant ministries within the cabinet of Prime Minister Ali Al-Zidi’s government.

Al-Hilali told the official agency, as reported by Baghdad Today, that: “There is a political movement, confirmation, and insistence by the forces of the Coordination Framework to hold an extraordinary session to complete the vote on the ministerial cabinet of Prime Minister Ali al-Zidi’s government.”

She added that "the last meeting of the coordination framework, which was held in the presence of Prime Minister Ali al-Zidi, witnessed the attendees confirming the completion of the vote on the vacant ministries during the coming period."

Al-Hilali pointed to "political movements and calls to hold an extraordinary session of the House of Representatives during the coming week, with the aim of completing the vote on Al-Zidi's government."  link

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Tishwash:  The Association of Iraqi Private Banks participates in the Arab-European Summit in Paris

The Association of Iraqi Private Banks participated today, Thursday, in the Arab-European Banking and Economic Summit 2026, hosted by the French capital, Paris, with a delegation headed by the Association’s President, Wadih Al-Hanzal.

The association stated in a statement received by Kalima News that its participation came within the framework of the summit organized by the Union of Arab Banks and sponsored by French President Emmanuel Macron, with the aim of discussing the most prominent global financial challenges and strengthening economic partnerships.

The statement added that the Iraqi delegation reviewed before the participants the role played by the Iraqi government in managing economic challenges and moving towards achieving sustainable development, in addition to the efforts made to reform the banking sector.

During his participation, Al-Hanzal stressed that the formation of the new Iraqi government headed by Ali Al-Zidi represents an important step in a stage that requires an advanced economic vision, noting that the emergence of its leadership from the private and banking sector environment enhances the chances of adopting modern management methods based on efficiency and speed of decision-making.

He explained that the Central Bank of Iraq is leading a program of structural reforms in the banking sector, which included raising the capital of banks, re-evaluating the branches of foreign banks, and issuing instructions specific to digital banks.

He pointed out that the efforts of digital transformation and financial inclusion resulted in achieving positive indicators, including exceeding the number of bank accounts to 15 million, issuing more than 20 million bank cards, as well as deploying about 179,000 electronic payment devices, while electronic government levies exceeded 15 trillion dinars.  link

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Tishwash:  The Ministry of Finance includes "daily wages and contracts" in the 2026 budget (document)

An official document revealed on Wednesday that Finance Minister Faleh al-Sari approved the inclusion and regularization of daily wage and contract employees within the 2026 budget, and referred the file to the Budget Department to take the necessary measures.

According to an official letter issued by the Chairman of the Finance Committee, MP Aziz Sharif Al-Mayahi, and addressed to the Minister of Finance, he requests that daily wage employees in ministries and service departments in the governorates, who have served for more than four years, be included in the 2026 budget and placed on permanent staff.

The document included a note from the Minister of Finance addressed to the Budget Department stipulating that contract and daily wage employees be included in the upcoming budget, in accordance with the approved procedures.  link

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Tishwash:  Financial expert identifies tools to "save Baghdad" from the liquidity crisis - Urgent

 Iraq's public finances are under increasing pressure due to declining oil revenues and the continued near-total reliance on crude oil as the primary source of budget funding. This has impacted liquidity levels and the government's ability to meet its growing obligations.

Amid these challenges, economic calls are mounting for a review of the public revenue structure, expanding the tax base from non-oil sectors, reforming financial collection systems, combating corruption, and reducing waste in government spending.

These measures aim to enhance financial stability and mitigate the severity of recurring crises. Financial expert Saleh Rashid outlined several tools Baghdad could adopt to successfully manage the liquidity crisis, given the alarming decline in the country's treasury revenues for the third consecutive month.

Rashid told Baghdad Today that “Baghdad is facing a major, sensitive and complex financial crisis, especially after losing an important part of its crude oil export revenues as a result of the disturbances in the Strait of Hormuz, which has made Iraq one of the most affected countries in the region, as it depends on oil for more than 90% of its resources.”

He explained that "the government has limited options for addressing the financial gap, foremost among them developing non-oil revenues, which has multiple dimensions, most notably the issue of collecting money from services provided to citizens, as this issue is witnessing high levels of corruption that require a comprehensive review."

He added that "the introduction of modern technologies in collecting money, especially in the electricity and water sectors, has become an urgent necessity, provided that the collection is fair and equitable, takes into account the conditions of the poor and the simple, and contributes to reducing losses, as well as developing the collection of the rest of the other services."

Rashid pointed out that “warnings against relying on oil as a primary resource for Iraq’s treasury were issued more than 30 years ago, while many oil-producing countries, especially in the Arabian Gulf, realized the danger of this approach and began to change it, but successive governments in Baghdad did not give this issue sufficient attention.”

He added that "the picture today is clearer than ever before, which necessitates changing the economic view of oil and moving to a diversified economy in which oil is a part but not the whole," stressing "the importance of controlling the pace of spending in state institutions and strengthening efforts to combat corruption."

He concluded by saying: "A large part of Iraq's wealth is being drained due to corruption, and addressing this issue is a fundamental step for any real financial or economic reform."

The Iraqi economy is heavily dependent on crude oil export revenues, which constitute more than 90% of the country's resources, making it highly vulnerable to fluctuations in oil prices and geopolitical conditions in the region.

In recent years, warnings about the dangers of this unilateral reliance have increased, especially with the recurrence of financial crises and delays in paying salaries and government obligations at certain times.  link