Iraq Economic News and Points To Ponder Wednesday Afternoon 7-30-25
The National Bank Of Iraq Signs A Strategic Agreement With The Ministry Of Finance To Activate The Sovereign Guarantees Program.
Banks Economy News – Baghdad The National Bank of Iraq signed a strategic cooperation agreement with the Ministry of Finance aimed at activating the sovereign guarantees program. This qualitative step reflects the Iraqi government's commitment to empowering the banking sector, enhancing its role in supporting the national economy, and stimulating investment in priority projects.
This agreement aims to enable Iraqi banks to contribute to providing long-term credit facilities for national projects, through guarantees provided (in part) by the Iraqi government to foreign international financing institutions. This will help reduce financing risks and encourage the private sector and local and international investors to enter the Iraqi market with greater confidence.
Under the agreement, the National Bank of Iraq will play a pivotal role in facilitating financial relations for projects and assisting in obtaining financing through international financial institutions, in line with its strategic position and active role in supporting productive sectors, particularly industries that receive direct attention from the Iraqi government.
This agreement comes as part of the government's efforts to strengthen public-private partnerships and enable local banks to play a greater role in supporting the national economy, particularly in vital sectors such as industry, energy, and housing.
This agreement represents a pivotal milestone in the bank's journey and embodies its commitment to providing innovative and secure financing solutions that support economic development efforts in Iraq.
This partnership with the Ministry of Finance will open new horizons for the banking sector and enable the National Bank of Iraq to contribute more effectively to financing vital projects Iraq needs.
This step is in line with the Iraqi government's financial and administrative reform plan, which aims to diversify sources of income, boost non-oil revenues, and enable the banking sector to play a greater role in supporting sustainable development and achieving the national economic vision.
The National Bank of Iraq affirms its commitment to continuing to work with relevant government agencies to implement innovative financing programs that contribute to enabling major national projects, particularly in the fields of industry, energy, and infrastructure.
The bank also seeks to expand its regional and international partnerships to provide financing tools that align with development requirements and support the government's efforts to achieve comprehensive and sustainable economic stability. 342 views https://economy-news.net/content.php?id=58100
Currency Market: New Rise In Dollar Prices In The Local Market
Buratha News Agency1702025-07-30 The dollar exchange rate against the dinar resumed its rise after the closure of the two main stock exchanges in Al-Kifah and Al-Harithiya. The selling price reached 140,500 dinars for $100, while the buying price reached 138,500 dinars for $100. https://burathanews.com/arabic/economic/463476
Oil Prices Rise, Brent Exceeds $72 A Barrel
Energy Oil prices rose slightly on Wednesday, as investors focused on developments in US President Donald Trump's deadline to end the war in Ukraine and his threat to impose tariffs on countries that trade in Russian oil.
Brent crude futures, the most active, rose 40 cents, or about 0.6%, to $72.09 a barrel.
US West Texas Intermediate crude rose 76 cents to $69.97 a barrel, as investors shrugged off mixed US data on oil and fuel inventories. September Brent futures rise ahead of trading close.
September Brent crude, which expires Wednesday, rose 37 cents to $72.88.
Both contracts had fallen about 1% earlier in the session.
Trump said on Tuesday that he would begin imposing measures on Russia, including secondary tariffs of 100% on its trading partners, if it did not make progress in ending the war within 10 to 12 days, 50 days earlier than previously scheduled.
Trump also imposed a 25% tariff on goods imported from India starting August 1, along with unspecified sanctions related to arms and oil purchases from Russia, potentially straining relations with the world's most populous democracy.
The United States also warned China, the largest buyer of Russian oil, that it could face hefty tariffs if it continues to purchase this oil. US inventory data reveals unexpected increases.
The US Energy Information Administration announced that US crude inventories rose by 7.7 million barrels, compared to analysts' expectations in a Reuters poll for a decrease of 1.3 million barrels.
US gasoline inventories fell by 2.7 million barrels, compared to expectations for a smaller decrease of 0.6 million barrels.
Distillate inventories, which include diesel and heating oil, rose by 3.6 million barrels, exceeding expectations for a gain of only 0.3 million barrels, according to the EIA data.
56 views 2025/07/30 - https://economy-news.net/content.php?id=58141
Gold Prices Fell More Than 1 Percent After The US Interest Rates Were Held Steady.
Wednesday, July 30, 2025, 11:57 PM | Economic Number of readings: 87 Baghdad/ NINA / Gold prices fell, at settlement on Wednesday, by more than one percent, after the Federal Reserve (the US central bank) kept interest rates unchanged and refrained from providing indications about the timing of a cut, while strong US economic data weakened the appeal of the yellow metal.
Spot gold fell 1.5 percent to $3,275.92 per ounce.
US gold futures also lost 0.8 percent, recording $3,352.8.
As for other precious metals, silver fell in spot transactions by 3.2 percent to $36.97 per ounce, falling to its lowest level in three weeks, while platinum fell by 6.6 percent to $1,303.19, its lowest level since June 24, and palladium fell by 4.9 percent to $1,196.75. https://ninanews.com/Website/News/Details?key=1243853
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