Friday Iraq News Posted by Tishwash at TNT 7-3-2026
TNT:
Tishwash: The US Treasury is tracking $300 billion outside the Iraqi banking system.
Informed sources revealed to Al-Mustaqilla information described as serious, indicating that the US Treasury informed the government of Ali al-Zaidi of the existence of sums of money estimated at about $300,000,000,000 believed to have left the official banking system.
According to the source, these funds are suspected to still be outside banking channels, specifically with certain political figures, away from direct financial oversight.
The source also pointed to what he described as “precise sequences of dollar movement allocated to Iraq,” where the path of funds is tracked and transfer and distribution operations are analyzed, in an attempt to uncover the whereabouts of large sums believed to be inside the country or outside the official financial system.
The information added that ongoing tracking operations reveal – according to the source – a complex financial network linked to dollar flows inside and outside Iraq, which raises questions about the size of undeclared funds and their true paths. link
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Tishwash: The European Union hands over to the Ministry of Finance the assets of a project to develop public financial management in Iraq.
The European Union handed over, on Wednesday (July 1, 2026), the assets resulting from the "Strengthening Public Finances and Financial Markets" project to the Iraqi Ministry of Finance, in a move aimed at supporting public financial management and enhancing joint cooperation in the fields of macroeconomics and investment.
The EU said in a statement received by Baghdad Today that “today, EU-funded assets were officially handed over to the Iraqi Ministry of Finance, in an important step that reflects our shared commitment to strengthening public financial management.”
He added, “During the handover ceremony, both the Director General of the Administration Department at the Ministry of Finance, Sadiq Huwaidi Abbas, and the Head of the New Cooperation Section at the European Union Mission, Wim Rippma, spoke about the depth of the partnership and its outstanding results between the European Union and Iraq in the fields of economy and investment.”
The statement indicated that “the transfer of assets resulting from the ‘Strengthening Public Finances and Financial Markets’ project, funded by Germany and implemented by GIZ, reflects the sustainable impact of this cooperation and paves the way for continued joint work to establish transparent, effective and sustainable public financial management in Iraq,” adding that “together we look forward to a new chapter in our partnership.” link
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Tishwash: Enhancing the investment environment tops the agenda of Al-Zaidy's meeting with businessmen, along with broader support for the private sector.
Prime Minister Ali Faleh al-Zaidi discussed with a group of Iraqi businessmen ways to develop the investment environment and expand the contribution of the private sector to the economic development process.
The Prime Minister’s Media Office stated in a statement that “Prime Minister Ali Faleh Al-Zaidi received a group of Iraqi businessmen in various commercial, industrial and financial sectors.”
According to the statement, the Prime Minister affirmed “the government’s commitment to providing a safe investment environment and supporting all legislation and laws that contribute to achieving the requirements for investment, commercial and industrial success.”
He pointed out that “the private sector is an important partner in development and service projects in Iraq.”
He pointed out that “the government will support his active presence within the framework of its plan included in the ministerial program, which focuses on freeing the economy from the single-system model and employing all capabilities to diversify sources of income and maximize resources. link
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Tishwash: The Central Bank and the Integrity Commission are taking action to close "money laundering channels" – statement
The Governor of the Central Bank of Iraq, Nizar Nasser Hussein, and the Head of the Federal Integrity Commission, Mohammed Ali Al-Lami, agreed today, Thursday (July 2, 2026), to put in place rapid coordination mechanisms to dry up the avenues for smuggling money by activating proactive monitoring and exchanging immediate data.
The meeting, which took place at the bank's headquarters and was attended by both sides on the occasion of the new governor assuming his position, witnessed an in-depth discussion of the files of protecting public funds, where it was decided to form a joint coordination working group to close the legal and procedural gaps, and to pursue illegal proceeds to recover them in accordance with the legal frameworks.
The Governor of the Central Bank of Iraq, Mr. Nizar Nasser Hussein, received at the bank’s headquarters the Head of the Federal Integrity Commission, Dr. Muhammad Ali Al-Lami, who offered his congratulations and blessings to His Excellency on the occasion of his assuming his new position, wishing him success in managing the country’s monetary policy.
The meeting witnessed an in-depth discussion of a number of vital files of common interest, where both sides stressed the importance of institutional integration between the Central Bank and regulatory bodies to protect public funds and enhance the environment of integrity and transparency in all state institutions.
In a strategic move to enhance financial security, the head of the Integrity Commission and the governor of the Central Bank agreed to strengthen joint coordination mechanisms with the aim of drying up avenues for money smuggling and combating the challenges facing the financial system, through activating proactive oversight and exchanging real-time data, which represents a fundamental pillar in pursuing corruption crimes, and tracking smuggled funds and illicit proceeds to recover them in accordance with legal frameworks.
At the conclusion of the meeting, both parties emphasized the need for the swift implementation of the joint agreements and the formation of a coordinating working group to ensure that any legal and procedural loopholes that could be exploited in financial transactions are addressed. link
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Tishwash: Diversifying the Iraqi economy: A historic opportunity or a project that clashes with old obstacles?
Economic reform is one of the most prominent challenges facing Iraq, given the continued heavy reliance on oil revenues and the direct impact of fluctuations in global energy prices.
Conversely, there are increasing calls to adopt economic policies based on diversifying income sources, encouraging investment, and strengthening the role of the private sector, which would contribute to building a more stable economy capable of facing crises.
With the current government adopting a package of economic plans and reforms, a question arises about its ability to translate this vision into tangible results that reflect on the lives of citizens and the national economy.
Economic expert Abbas Al-Shatri confirmed today, Thursday (July 2, 2026), that the current government adopts an economic vision different from the previous government, based on diversifying income sources and reducing dependence on oil revenues, in addition to stimulating investment and developing the economic infrastructure.
Al-Shatri told Baghdad Today that “Iraq is working genuinely to save the Iraqi economy from the accumulated challenges, based on an economic vision that focuses on structural reforms rather than temporary solutions, which distinguishes its approach from many previous governments.”
He explained that "the success of this vision remains contingent on the continued implementation of reforms, the provision of a supportive legislative and administrative environment, as well as combating corruption and strengthening partnership with the private sector, which will positively impact growth rates and job opportunities."
He added that "Iraq possesses great economic potential that qualifies it to achieve a qualitative leap in the coming years if reform policies continue and development projects are implemented according to clear timetables, and the current stage represents an opportunity to lay the foundations for a more diversified and sustainable economy."
For many years, the Iraqi economy has relied mainly on oil revenues, which represent the largest share of the general budget revenues, making it vulnerable to the fluctuations of global markets.
Over the past years, many government programs have been proposed for economic reform and diversification of income sources, but challenges such as corruption, bureaucracy, a weak investment environment, and delays in project implementation have limited the achievement of broad results. link