Iraq Economic News and Points To Ponder Friday Morning 12-12-25
Trump's Envoy Warns: Iraq's Future Hinges On Decisions In The Coming Weeks.
Political | 10:57 - 11/12/2025 Mawazin News – Baghdad: US President Donald Trump’s envoy to Iraq, Mark Savaya, stated that Iraq, 23 years after the fall of the dictatorship, stands at a “critical juncture,” emphasizing that no state can succeed “while armed groups compete with the state and undermine its authority.”
In a statement, Savaya affirmed that “this division has weakened Iraq’s international standing, stifled its economy, and diminished its ability to protect its national interests.” He added that “the experience of the past three years has proven that genuine stability is possible when the government adopts a realistic and balanced approach that keeps the country out of regional conflicts and refocuses on national priorities.”
He added that "commemorating the eighth anniversary of the victory over ISIS and the successful completion of parliamentary elections place a direct responsibility on the shoulders of political and religious leaders.
The decisions they make will determine whether Iraq moves toward sovereignty and strength or slides back into fragmentation and decline." He stressed that "a unified and rational choice will send a clear message to the United States and the international community that Iraq is ready to take its place as a stable and respected nation in the new Middle East. The alternative is economic deterioration, political turmoil, and international isolation."
Savaya continued, "The United States, under President Trump's leadership, stands fully prepared to support Iraq during this critical phase." He noted that he and his team are "committed to working closely with Iraqi leaders to establish a strong state, a stable future, and a sovereign Iraq capable of shaping its own destiny in the new Middle East."
https://www.mawazin.net/Details.aspx?jimare=271473
Dollar Prices Rise Again In Baghdad's Local Markets
Economy | 11:11 - 11/12/2025 Mawazin News - Baghdad: The exchange rate of the US dollar has risen again in local markets in the capital, Baghdad, amid normal trading activity.
The selling price at currency exchange offices reached 143,500 dinars per 100 US dollars, while the buying price was 142,500 dinars. This increase comes amid limited fluctuations in the parallel market in recent days.
https://www.mawazin.net/Details.aspx?jimare=271444
Gold And Precious Metal Prices After The US Interest Rate Cut
Economy | 12:09 - 11/12/2025 Mawazin News - Follow-up: Gold prices declined globally after the precious metal reached its highest level in nearly a week, amid a split within the US Federal Reserve regarding interest rate cuts.
This left investors uncertain about the pace of monetary easing next year, while silver continued to reach new record highs. Spot gold fell 0.2% to $4,221.49 per ounce by 03:00 GMT, after earlier touching its highest level since December 5th.
Meanwhile, US gold futures for February delivery rose 0.6% to $4,249.70 per ounce.
Tim Waterer, senior market analyst at KCM Trade, said, "Gold has not been able to advance after today's events, as the Fed has made it clear that any further interest rate cuts will be limited and spaced out," indicating that the gold market is still trying to digest the direction of monetary policy next year.
The US Federal Reserve cut interest rates by 25 basis points on Wednesday in an unusually divided vote, while confirming that borrowing costs would not be lowered further until there are clearer signs of a slowing labor market and a decline in inflation, which it described as "still fairly high."
In an unprecedented move, six policymakers opposed the cut, and Fed Chair Jerome Powell avoided giving any clear indications about the timing of the next rate reduction.
Lower interest rates are generally seen as supportive of non-yielding assets like gold, as they reduce the opportunity cost of holding them, prompting more investors to seek refuge in the safe haven.
Traders are now awaiting the release of US jobs and inflation data for November next week, followed by a detailed report on third-quarter economic growth, for further clues on the future path of interest rates.
As for other precious metals, silver rose 0.8% in spot trading to $62.25 an ounce, after hitting a record high of $62.88 earlier in the session. Its year-to-date gains now stand at 113%, driven by strong industrial demand, declining inventories, and its inclusion on the U.S. list of critical metals.
Ilya Spivak, head of global macros at Tasty Life, said, "Silver has been largely unaffected by external factors and has been rising independently. I don't see any indication of a pullback at the moment."
Platinum also rose 0.3% to $1,660.50 an ounce, while palladium slipped 0.2% to $1,479.70, in cautious trading ahead of further signals from the Federal Reserve and U.S. economic data. https://www.mawazin.net/Details.aspx?jimare=271448
Iraq Exported 7.9 Million Barrels Of Oil To The US In November, Topping The Arab World.
Energy Economy News – Baghdad The U.S. Energy Information Administration announced on Thursday that Iraq's oil exports to the United States exceeded 7 million barrels during November, an increase of more than 2.5 million barrels compared to the previous month.
The administration stated in a table that "Iraq exported 7.920 million barrels of crude oil to America during the month of November, up from the month of October, in which Iraqi oil exports amounted to 4.495 million barrels."
She added that "Iraq exported an average of 149,000 barrels per day of crude oil to America during the first week of November, while it exported an average of 92,000 barrels per day in the second week, an average of 397,000 barrels per day in the third week, and an average of 435,000 barrels per day in the fourth week."
The U.S. Energy Information Administration explained that "Iraq ranked third in its exports to America last month, after Canada, which ranked first as the country exporting the most oil to America, followed by Mexico."
The administration noted that "Iraq came in first place among Arab countries as the largest exporter of oil to America, ahead of Saudi Arabia, which came in second with exports of 7.380 million barrels, and Libya came in third with exports of 1.440 million barrels." https://economy-news.net/content.php?id=63299
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