Iraq Economic News and Points To Ponder Wednesday Evening 9-23-25
Interior Intelligence: Currency Counterfeiting Crime Rates Drop By 90%
Time: 2025/09/24 09:16:39 Reading: 840 times {Local: Al Furat News} The Ministry of Interior revealed a significant decline in the rates of currency counterfeiting crimes during the current year (2025), confirming that the percentage reached between (85 and 90) percent compared to previous years.
The director of the Ministry's Federal Intelligence and Investigation Agency, Brigadier General Ahmed Mohammed Obaid, said in a press statement that "this decline is due to a package of deterrent security and economic measures to combat this phenomenon in various governorates."
He pointed out that "counterfeiting currency is one of the most serious crimes affecting the national economy and citizens' confidence in the local currency."
He explained that "the most prominent of these measures include tightening judicial follow-ups, intensifying intelligence work, adopting electronic payments in state institutions, and reducing direct cash transactions," indicating that "these factors combined have contributed to undermining the activity of the gangs involved, arresting numerous counterfeiters, and confiscating quantities of counterfeit dinar and dollar currency." LINK
Economist: The Central Bank of Iraq's gold reserves have risen to 24 trillion dinars.
Wednesday, September 24, 2025, | Economics Number of reads: 301 Baghdad / NINA / Economic expert, Manar Al-Obaidi, announced today, Wednesday, that the gold reserves of the Central Bank of Iraq reached more than 24 trillion dinars, an annual increase of 13.3% and an increase of 135% compared to 2022.
Al-Obaidi said in a statement that the percentage of gold reserves in the Central Bank amounted to 20% of the total reserves of the Central Bank, which amounted to 123 trillion Iraqi dinars.
He explained that this value is considered a record and is the first time that Iraq has reached it since the establishment of the Central Bank of Iraq, as gold reserves did not exceed the barrier of 20 trillion dinars throughout the work of the Central Bank of Iraq, and for the first time the percentage of gold’s contribution to reserves exceeds the barrier of 20% of the total reserves.
He stressed that the arrival of gold reserves to this level enhances the strength and value of the Iraqi dinar, especially with the fluctuations in various global currencies, including the dollar. Therefore, the Central Bank of Iraq sought to increase the percentage of its gold reserves, which is considered a safety factor in light of international financial fluctuations. / End https://ninanews.com/Website/News/Details?key=1253445
Gold Hits Record High As Interest Rate Outlook Remains Uncertain
economy | 09/24/2025 Mawazine News - Follow-up Gold prices stabilized on Wednesday, near an all-time high, recording $3,765.29 per ounce, after touching $3,790.82 yesterday.
This came as investors awaited remarks by Federal Reserve Chairman Jerome Powell and inflation data expected at the end of the week.
Powell confirmed that the central bank is balancing the risks of inflation and the weakness in the labor market without offering clear signals on interest rates. In other metals, silver rose to $44.11, platinum to $1,484.36, and palladium to $1,231.85. https://www.mawazin.net/Details.aspx?jimare=267319
Natural Resources In The Kurdistan Region: We Have Fulfilled Our Oil Commitments And Are Awaiting Baghdad's Signature.
Wednesday, September 24, 2025, | Economics Number of reads: 193 Baghdad / NINA / The Ministry of Natural Resources in the Kurdistan Region confirmed, on Wednesday, that it has fulfilled all its obligations related to exporting the region's oil with the federal Ministry of Oil, within the framework of the recommendations and decisions of the Council of Ministers.
The ministry said in a statement, "All local and foreign companies signed the tripartite agreement, with the exception of one foreign company that has not signed yet, which does not affect the tripartite agreement between our ministry, the companies and the federal Ministry of Oil," adding:
"We are awaiting the response of the federal Ministry of Oil to sign the agreement, so that the State Oil Marketing Organization (SOMO) can start exporting oil as soon as possible and implement the terms of the agreement." /End https://ninanews.com/Website/News/Details?key=1253526
Supply Complications From Iraqi Kurdistan Send Oil Prices Soaring.
Energy Oil prices rose more than 1% on Wednesday after an industry report showed a decline in US crude inventories last week, heightening concerns about tight market supply amid ongoing supply disruptions from Kurdistan, Venezuela, and Russia.
Brent crude futures rose 97 cents, or 1.4%, to $68.60 a barrel by 13:21 GMT, while US West Texas Intermediate crude rose 99 cents, or 1.6%, to $64.40.
Both benchmark crudes rose by more than $1 a barrel on Tuesday as negotiations to resume exports from the Kurdistan Region of Iraq stalled. This stalemate has kept pipeline supplies to Turkey at 230,000 barrels per day (bpd) halted since March 2023, after major producers demanded guarantees for debt repayment.
In the longer term, analysts expect a global supply glut and a slowdown in demand. In its latest monthly report, the International Energy Agency predicted that oil supply growth would accelerate this year, with the surplus potentially worsening by 2026. https://economy-news.net/content.php?id=60347
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