Iraq Economic News and Points To Ponder Monday Morning 9-1-25
The Minister Of Finance Affirms The Continuation Of The Partnership With The World Bank To Support The Government's Financial Reform Priorities.
Sunday, August 31, 2025 | Economic Number of reads: 352 Baghdad / NINA / Minister of Finance, Taif Sami, affirmed today, Sunday, the continuation of the partnership with the World Bank to support the government's priorities in financial reform.
A statement by the ministry said, "Minister of Finance Taif Sami received the Director of the World Bank Office in Iraq, the Middle East and North Africa, Emmanuel Salinas, and discussed with him existing areas of cooperation and discussed programs and projects supported by the World Bank, especially those related to economic reform plans and the development of public spending systems."
The Director of the World Bank Office expressed "the mission's commitment to continue providing technical and advisory support to enhance the Iraqi government's efforts to achieve economic stability and sustainable development." https://ninanews.com/Website/News/Details?key=1249312
The Dollar Continues To Rise...The Note Is Worth 143,750 Dinars.
08/31/2025 Mawazine News - Baghdad - The dollar exchange rate witnessed a significant increase against the Iraqi dinar in local markets on Sunday. The selling price reached 143,750 dinars for $100, while the buying price reached 141,750 dinars for $100. https://www.mawazin.net/Details.aspx?jimare=265991
Washington Announces The Progress Of The Coalition's Withdrawal In Accordance With The Agreement, While The State Of Law Coalition Expresses Doubts.
August 31, 2025 Baghdad - Qusay Munther The State of Law Coalition, headed by Nouri al-Maliki, cast doubt on the existence of a US troop withdrawal from Iraq. Coalition member Hussein al-Maliki said in a statement yesterday that "the US forces had no intention of withdrawing from Iraq, and the military movements taking place are merely a repositioning and transfer of soldiers between bases."
He added that "the Americans have only worked to change some sensitive military sites at Ain al-Assad base and some other bases, and the goal is not to withdraw, as some are trying to promote," he said.
Reset
For its part, the US Embassy in Baghdad confirmed that the process of re-adjusting the presence of international coalition forces in Iraq is proceeding in accordance with the agreements signed with the federal government, noting that the military arrangements aim to gradually transition to a bilateral security partnership, while continuing to support operations against ISIS elements.
The embassy spokesperson said in a statement yesterday that “the circulating reports about the complete evacuation of US forces from Baghdad are false,” stressing that “work is proceeding according to the established timetable.”
He added that “the international coalition against ISIS in Iraq has set a timetable for the completion of its military mission, and that its mission in Operation Inherent Resolve is currently continuing according to the specified timeframe for the process of transferring forces and ending military operations in Iraq.”
He continued, “What was stated in the joint statement shows that it is related to a strategic shift in the mission of coalition forces in Iraq, as the role is shifting from a military mission to a natural and bilateral security partnership.”
For his part, a Pentagon official confirmed that the recalibration of the US military presence in Iraq is proceeding according to the agreed-upon plan, as the United States aims to complete the coalition mission, while continuing to support operations against ISIS from bases in Iraq to Syria until 2026, and then gradually moving towards a bilateral security partnership. Social media circulated yesterday news of the withdrawal of US forces from Baghdad.
Sources explained yesterday that "US forces will withdraw from the heavily fortified Green Zone, which includes Western diplomatic centers and official headquarters, as well as Baghdad Airport and the headquarters of the Joint Operations Command."
The Iraqi government has repeatedly confirmed that the first phase of the withdrawal of US forces operating within the international coalition fighting ISIS will conclude this year, with the second phase set to conclude next year.
Labour Party
Meanwhile, the Turkish Parliament has given the parliamentary committee tasked with establishing the ground rules for the peace process with the Kurdistan Workers' Party (PKK), which had previously announced its dissolution and disarmament after decades of conflict with Ankara, until the end of the year.
The party announced its dissolution last May, after decades of insurgency that resulted in the deaths of at least 50,000 people, according to the Turkish president. The decision to dissolve the party came in response to a call from its leader, Abdullah Ocalan, who has been imprisoned in Turkey since 1999.
The parliamentary committee overseeing the peace process convened for the first time on August 5, chaired by Parliament Speaker Numan Kurtulmuş.
Kurtulmuş announced the day before yesterday that "the committee will continue its work until the end of this year," adding that "the decision we made when establishing the committee was for it to complete its work by December 31st," noting that "the deadline can be extended for two additional months if necessary."
The committee will also determine the fate of the party's leader, who is serving a life sentence in solitary confinement on Imrali Island.
In a statement on Friday, the so-called Imrali delegation said it had held a three-hour meeting with Ocalan in prison about the ongoing process, adding that “a democratic society, peace, and integration are the basic concepts behind this process, and that results can be achieved on their basis.” LINK
A Significant Decline In Iraqi Oil Exports To The US During The Week
Energy Economy News – Baghdad The US Energy Information Administration announced on Sunday that Iraqi oil exports to the United States fell by more than half last week.
The administration said in statistics reviewed by Al-Eqtisad News that "the average US crude oil imports during the past week from 10 major countries reached 5.690 million barrels per day, an increase of 250,000 barrels per day compared to the previous week, which reached 5.440 million barrels per day."
She added, "Iraq's oil exports to the United States averaged 162,000 barrels per day, down 166,000 barrels per day from the previous week's average of 328,000 barrels per day."
The administration also noted that "the largest US oil revenues during the past week came from Canada, at a rate of 3.852 million barrels per day, followed by Mexico, at a rate of 437,000 barrels per day, Brazil, at a rate of 343,000 barrels, and Libya, at a rate of 280,000 barrels per day."
According to the table, "US crude oil imports from Saudi Arabia averaged 268,000 barrels per day, from Colombia 137,000 barrels per day, from Nigeria 93,000 barrels per day, from Venezuela 74,000 barrels per day, and from Ecuador 44,000 barrels per day." https://economy-news.net/content.php?id=59446
Expert: No Fear Of Oil Prices Falling To $50
Economy | 08/31/2025 Mawazine News – Baghdad Economic expert Hamza Al-Jawahiri confirmed on Sunday that the current fluctuations in oil prices are normal and do not raise any concerns, noting that OPEC is closely monitoring developments in the global market and taking appropriate decisions to maintain price stability.
Al-Jawahiri said, "OPEC's policy is based on addressing any imbalance in global markets that may lead to a drop in oil prices, through well-studied mechanisms that ensure a balance between supply and demand," noting that "the current fluctuations do not pose a threat to the oil market."
He added, "Current indicators do not indicate a future risk of oil prices falling to $50 per barrel," stressing that "OPEC is capable of intervening at the appropriate time to control the market and prevent any price collapse."
The global oil market is witnessing significant fluctuations due to economic and geopolitical factors, amid close monitoring by producing countries to ensure oil stability. https://www.mawazin.net/Details.aspx?jimare=266024
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