Iraq Economic News and Points To Ponder Friday Morning 1-16-26
Agreements Are On The Horizon To Resolve The Presidential Issue.
Negotiations to choose the president of the republic remain a central focus of the Iraqi political scene, given the approaching constitutional deadlines and the limited time available. Dialogues continue between the two main Kurdish parties, the Patriotic Union of Kurdistan and the Kurdistan Democratic Party, amid adherence to the political norms adopted since 2005, in parallel with initial indications that may open the door to an understanding that ends the current stalemate.
In this context, President Abdul Latif Jamal Rashid met on Tuesday with Mohsen al-Mandalawi, head of the Al-Asas Coalition, to discuss political developments and ways to complete constitutional requirements within the established timeframes. During the meeting, the President emphasized the importance of unifying visions and strengthening coordination among national forces to reach political agreements that contribute to consolidating stability and supporting state institutions.
Al-Mandalawi, in turn, praised the Presidency's role in supporting the political de-escalation process, affirming his coalition's commitment to fulfilling the remaining requirements based on the principles of partnership and national consensus.
In parallel, the corridors of the Coordination Framework are witnessing escalating political activity. MP Bahaa al-Araji affirmed that the understandings between the Reconstruction and Development Coalition and the State of Law Coalition stem from the principle of complementary roles within the Coordination Framework, serving the requirements of the current phase.
Al-Araji indicated that supporting Nouri al-Maliki's candidacy aligns with the slogan "Iraq First," emphasizing that the priority today must be achieving progress and transcending the logic of procrastination and unproductive political competition.
Regarding the presidency, MP Sarwa Mohammed Rashid, from the Patriotic Union of Kurdistan (PUK) bloc, told Al-Sabah newspaper that political negotiations are still ongoing within the party and with the Kurdistan Democratic Party (KDP), in coordination with other political forces. She stressed adherence to the political convention that allocates the presidency to the PUK.
She clarified that this entitlement is not based on narrow partisan considerations, but rather on political understandings that have contributed to maintaining national balance and political stability in previous phases.
Rashid added that the Patriotic Union of Kurdistan (PUK) has finalized its choice to nominate Nizar Amidi for the presidency, noting his extensive political experience and active presence in Baghdad, as well as his ability to manage the position as a symbol of national unity, a guarantor of constitutional implementation, and a servant of all components of the Iraqi people without exception.
In contrast, Abdul Salam Barwari, a member of the Kurdistan Democratic Party (KDP), told Al-Sabah newspaper that "there is no definitive new development yet," but there are positive indicators that can be built upon.
He explained that KDP leader Masoud Barzani has presented two main options: the first is to agree on a single candidate from both parties and present him in Baghdad, while the second is to leave the decision to the Kurdish blocs within the Council of Representatives, as happened in the election of former President Fuad Masoum.
Barwari predicted that the outlines of an agreement will become clear within the next week, especially given the link between this issue and the reactivation of the Kurdistan Region Parliament and the formation of the local government.
For her part, political researcher Zahraa Al-Saadi believes that the issue of choosing the president of the republic is one of the most complex issues in the current political stage, warning that the continuation of the Kurdish dispute may keep the position under time pressure and open the door to national interventions to find a consensus formula that enjoys broad acceptance, in order to ensure that the political process is not disrupted and to maintain institutional stability in the country. https://alsabaah.iq/126439-.html
Government Advisor: The Current Economic Recession Is Seasonal And Will Subside With The Revitalization Of Public Spending.
Time: 2026/01/16 14:04:49 {Economic: Al-Furat News} The Prime Minister’s financial advisor, Mazhar Muhammad Saleh, confirmed on Friday that markets are experiencing a seasonal recession globally and locally at the beginning of each calendar year, while pointing to the factors affecting the stability of the exchange rate in light of the current regional conditions.
Saleh told Al-Furat News Agency, “At the beginning of each calendar year, markets experience a seasonal recession following the peak of purchases that precedes Christmas, a pattern known in international economic trends.” He explained that “this recession is clearly reflected in our country in consumption indicators, which tend to decline temporarily as a result of the partial depletion of income at the end of the year and the onset of the winter season.”
He added that “individuals and the private sector are anticipating trends in government spending and fiscal policy at the start of the new year, which coincides with a slowdown in the circulation of liquidity within the markets, as households and traders tend to hold onto cash while awaiting clarity on the financial outlook, especially in light of the delay in approving or activating the general budget.”
Saleh explained that "the transition of the executive authority from a caretaker status to exercising its full powers also affects this vision," noting that "the slowdown in liquidity leads to a temporary contraction in aggregate demand, which deepens the seasonal recession."
The financial advisor explained that "this recession often relieves pressure on consumer demand for foreign currency, leading to relative stability in the unofficial exchange rate, as long as external government spending and trade transfers have not yet entered their active phase."
Saleh warned that "this stability is being disrupted by noise in the information market, making it fragile and sensitive to the effects of regional geopolitics, which are exposed to strategic risks and fluctuating expectations in a highly sensitive environment."
He added that "this recession will begin to gradually recede with the revitalization of public spending, the acceleration of budget implementation, and the increase in liquidity turnover, which will re-stimulate consumption and increase commercial demand for foreign currency from its official sources, within limits that monetary policy can manage."
Saleh concluded by saying that "the improvement in consumption, liquidity and exchange market indicators together constitutes an early sign of the end of the seasonal recession and the entry of markets into a phase of gradual recovery." LINK
The Brother Of Grand Ayatollah Sistani Has Passed Away.
Time: 2026/01/16 14:29:41 Reading: 300 times Local: Al-Furat News} His Eminence Ayatollah Sayyid Hadi al-Sistani, brother of the Supreme Religious Authority, His Eminence Grand Ayatollah Imam Ali al-Husseini al-Sistani, may his shadow last, passed away today, Friday.
His Eminence’s death came on a day that coincided with the anniversary of the death of the Prophet’s uncle and guardian, Abu Talib, peace be upon him, which added more sadness and sorrow to this day in religious and popular circles.
The agency extends its deepest condolences and sympathies to the Supreme Religious Authority, Imam Al-Sistani, may his shadow last, and to all believers on this painful loss, asking God Almighty to have mercy on the deceased and grant him a spacious place in Paradise. LINK
The Sudanese Offers His Condolences To Grand Ayatollah Sistani On The Death Of His Brother
Time: 2026/01/16 15:28:36 Reading: 60 times
{Political: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani sent a telegram of condolence to the Supreme Religious Authority, His Eminence Grand Ayatollah Imam Ali Al-Husseini Al-Sistani (may his shadow last), on the death of his brother, His Eminence Ayatollah Sayyid Hadi Al-Sistani (may God Almighty have mercy on him).
The message of condolence read: “I extend my deepest condolences and sincere sympathy to His Eminence Grand Ayatollah Sayyid Ali al-Sistani (may his shadow last) and his two honorable sons, on the death of his brother, His Eminence Ayatollah Sayyid Hadi al-Sistani, after a noble life spent in research, study, diligence and serving knowledge.”
Al-Sudani concluded his message by saying: "May God have mercy on the deceased and grant patience and solace to his family, relatives and loved ones." LINK
Mr. Al-Hakim Offers His Condolences On The Death Of The Brother Of The Supreme Religious Authority, Imam Al-Sistani
Time: 2026/01/16 14:58:20 {Political: Al-Furat News} The head of the National State Forces Alliance, Mr. Ammar Al-Hakim, offered his condolences to the Supreme Religious Authority, His Eminence Grand Ayatollah Imam Ali Al-Husseini Al-Sistani (may his shadow last), on the death of his brother, the scholar, the proof, Mr. Hadi Al-Sistani (may God Almighty have mercy on him).
In his message of condolence, His Eminence Sayyid al-Hakim said: “With great sadness and pain, I received the news of the death of the brother of the Supreme Religious Authority, His Eminence Imam Sayyid Ali al-Husseini al-Sistani (may his shadow last), the eminent scholar, His Eminence Sayyid Hadi al-Sistani (may God Almighty have mercy on him), who answered the call of his Lord after a life spent in knowledge and learning and teaching the sciences of the purified family of Muhammad (peace be upon them).”
It is worth mentioning that the deceased was one of the prominent scholars who dedicated their lives to serving the noble science and spreading the knowledge of the Ahl al-Bayt (peace be upon them). LINK
Trade Ministry Reassures Iraqis: We Have Sufficient And Secure Stocks Of Food Basket Items
Time: 2026/01/16 16:28:56 Reading: 15 times
{Local: Al-Furat News} The Ministry of Trade confirmed on Friday that there is a sufficient and secure stock of food basket items in its warehouses spread throughout the governorates, while noting the stability of the supply situation and the absence of any indications of shortages of items.
A statement from the Ministry's media office, a copy of which was received by Al-Furat News, stated that "the Ministry has a sufficient and secure stock of food basket items in its warehouses spread across all governorates," stressing that "the supply situation is stable and there are no indications of any shortage of items."
The statement explained that "these measures come based on the directives of the Minister of Trade, Atheer Dawood Al-Ghurairi, regarding the need to strengthen the strategic reserve and ensure the continuity of supplying food basket items, in addition to continuous field monitoring of the supply situation in order to achieve stability and enhance citizens' confidence."
He added that "the ministry continues to implement its approved plans according to precise timetables to ensure the continuous supply of food agents and to meet the needs of citizens without interruption, in line with the government's priorities in supporting food security and maintaining market stability."
The statement indicated that "the ministry relies on daily monitoring and follow-up mechanisms for storage, processing and transportation operations, as well as continuing to conclude contracts and secure basic materials in a way that contributes to enhancing the availability of goods and price stability in local markets," stressing "the ministry's commitment to continuing to work to implement the minister's directives to maintain the availability of food supplies and ensure their delivery to citizens in all governorates." LINK