Iraq Economic News and Points To Ponder Friday Morning 7-31-26
Liquidity Shortages Threaten Iraqi Private Banks And Push Towards Mergers To Settle Obligations.
2026-07-30 Shafaq News - Baghdad ,,A banking source revealed on Thursday that there is a shortage of liquidity in a number of private banks in Iraq, attributing this to the limited deposits and the decline in citizens’ confidence in private banks, which has weakened their ability to meet some local and international obligations and the requirements of the Central Bank of Iraq.
The source told Shafaq News Agency that this situation may push towards the merger of a number of banks, noting that mergers also come within the requirements of reforming the banking sector and trends related to international standards.
He added that banks are required to have financial assets and insurance with the Central Bank of Iraq, explaining that a bank that suffers from weak assets or is unable to meet its obligations towards citizens may be subject to closure, provided that the rights of depositors are dealt with in accordance with the approved principles and controls.
The source explained that merging struggling or liquidity-deficient banks does not necessarily mean the loss of citizens’ money, as financial obligations and rights remain in place, but the recovery of funds may not be as quick and easy as depositors expect.
He pointed out that addressing the liquidity shortage problem requires restructuring the banking sector and strengthening confidence in local banks, in addition to increasing their ability to comply with regulatory and financial requirements, which contributes to reducing the risks of default and protecting depositors' funds. https://www.shafaq.com/ar/اقتصـاد/نقص-السيولة-يهدد-مصارف-هلية-عراقية-ويدفع-نحو-الاندماج-بهدف-تسوية-الالتزامات
Trump Announces $22bn Plan To Modernize Capital Airport
Money and business Economy News — Follow-up US President Donald Trump has unveiled a huge project to develop Dulas Airport in Washington, D.C., that includes the construction of new lounges and the replacement of passenger carriers with a modern rail system.
Trump announced a comprehensive renovation of Dulas International Airport, and said at an event in the Oval Office that they plan to add more than 5 million square feet of new or renovated space and will replace the two existing C and D lounges while preserving the iconic main building.
He added that he chose the designs after an extensive review of more than thirty proposals from the world’s leading architects.
The refurbished airport will include a multi-storey parking lot for 32,000 cars, which Trump has described as the world’s largest parking lot.
Transport Minister Sean Duffy said passenger carriers would be replaced by a faster and more efficient border rail system. Duffy said the $22 billion cost of the project would not need federal funding, $22.5 billion in bonds would be issued and United Airlines would be part of the payment, while participating airlines would pay the price.
Passengers reacted mixed, with some telling NBC News they were not facing major problems except for passenger carriers. Another, who uses the airport three or four times a year, said: “They stuff travelers like sardines and smell diesel all the way.”
The airport was officially inaugurated by President John F. Kennedy in 1962 and named after the late Secretary of State John Foster Dulles, one of three in the Washington area. The Department has previously expressed interest in renaming it.
Multiple sources told NBC News in February that the Trump administration had asked Senate Minority Leader Chuck Schumer to name the airport and Pennsylvania station in New York as Trump in exchange for the release of federal funds needed to build a tunnel between New York and New Jersey. In the end, the funds were released without such an agreement
https://www.economy-news.net/content.php?id=71983
Global Gold Is Heading To End A 4-Month Decline
Money and business Economy News — Follow-up Gold is heading on Friday for its first monthly gain in 5 months, as investors assess the impact of Iran’s war and analyze signals from the Federal Reserve (the U.S. central bank) for signs of inflation and the trajectory of interest rates.
In spot transactions, gold fell 0.2% to $4,096.29 an ounce by 01:07 GMT, but is heading for a weekly rise of 1.1%. U.S. gold futures for August delivery rose 0.1 percent to $4,094.10.
The precious metal is heading for a gain of more than 2.2 percent this month
https://www.economy-news.net/content.php?id=72006
Newspaper: Japan Carried Out A Large-Scale Intervention To Support The Yen In Coordination With The United States
Money and business Economy News - Follow-up The Nikkei newspaper quoted market sources as saying that Japan had conducted a large-scale intervention to buy the yen and sell the dollar on New York markets on Thursday.
The newspaper added that the US authorities also conducted the so-called "exchange rate inspections", a preliminary step to intervene in the currency market, in a sign that Tokyo and Washington are working together to prevent the depreciation of the yen.
Japan’s central bank has kept its monetary policies unchanged, in a sign of a waning concerns about economic growth and increased confidence over the country’s return to normalcy after last month’s benchmark rate hike to its highest level since 1995.
The bank announced in a statement on Friday that it would keep the interest rate at 1%, in agreement with the expectations of all experts polled by Bloomberg News.
The decision to stabilize the interest rate was issued by eight votes to one vote, after Hajimi Takata, a member of the Monetary Policy Council of the bank, voted in favor of continuing to raise interest rates https://www.economy-news.net/content.php?id=72010