Iraq Economic News and Points To Ponder Late Thursday Evening 9-17-26
Slemani Summit: Iraq’s President Urges Economic Diversification
2026-09-17 / 02:40 Shafaq News- Al-Sulaymaniyah Iraqi President Nizar Amedi on Thursday called for economic diversification, greater investment and stronger action against corruption, saying Iraq must improve its investment climate to attract capital and support sustainable growth.
Speaking at the 2026 Slemani Summit, Amedi said coordination among government institutions, civil society, partners and independent organizations was essential to developing and implementing financial, banking and economic policies.
He said regional instability made cooperation particularly important to limit its impact on Iraq’s economy and citizens.
Amedi backed a larger role for the private sector in strategic projects, infrastructure, services and job creation, while stressing the need for transparency, competition and protection of public funds and the rights of both the state and investors.
He said successful partnerships should combine the state’s role with the private sector’s capacity for investment and innovation, helping diversify economic activity and attract capital, expertise and technology.
Read more: Iraqi experts divided on reviving the oil-reliant economy
Political and security stability, he added, cannot be sustained without long-term economic and social stability.
Amedi also called for a long-term national strategy based on stronger state institutions, the rule of law, better management of resources, economic diversification, investment and digital transformation.
He said Iraq should gradually move toward a more productive and diversified economy through financial and economic reform, infrastructure development, private-sector growth and investment in young people and technology.
The president also called for continued action against corruption across the financial, economic and public-service sectors, while supporting the judiciary, integrity bodies, security agencies and other state institutions involved in anti-corruption efforts.
Read more: Iraq’s Dawn Crackdown spreads through state institutions
https://www.shafaq.com/en/Iraq/Slemani-Summit-Iraq-s-President-urges-economic-diversification
New Iraqi Ambassador Outlines Priorities For US Ties
2026-09-17 / 04:16 Shafaq News- Baghdad/ Washington Iraq’s new ambassador to the United States, Krikor Der-Hagopian, has presented his credentials to US President Donald Trump at the White House, the Iraqi Foreign Ministry said on Wednesday.
Der-Hagopian said he was honored to take up the post, adding that his priorities include following up on the outcomes of Prime Minister Ali Al-Zaidi’s visit to the United States and helping open a new chapter in Iraq-US relations.
His mission will also focus on deepening strategic ties and expanding political, economic, investment and security cooperation, with the ministry saying the efforts are intended to advance mutual interests and strengthen Iraq’s regional role.
Ambassador Kirkor Der Hakoobian presents his credentials to the President of the United States
On Tuesday, September 15, 2026, Ambassador Kirkor Der Hakoobian presented his credentials to the President of the United States, Donald Trump, as a permanent ambassador and special envoy to the Republic of Iraq at the United States, during an official ceremony at the White House.
The Ambassador conveyed the Iraqi government's greetings, confirming its pride in appointing him as an ambassador to the United States, and that his priorities will focus on following up on the outcomes of the visit of the Prime Minister to the United States, working to build a new era in Iraqi-American relations, deepening strategic, economic, and security cooperation, and expanding political, economic, and investment and security cooperation, which will enhance Iraq's regional role and serve the common interests of the two countries and peoples.
For more information on the ministry's news, please visit the official pages and accounts of the Iraqi Ministry of Foreign Affairs:
Website of the Ministry: https://mofa.gov.iq
Ministry page on Facebook: https://www.facebook.com/MOFA.IQ
Official account on the "X" platform (formerly Twitter): https://x.com/iraqimofa
Official Instagram account: https://www.instagram.com/iraqmofa
Al-Zaidi visited Washington in July, where Iraq and the United States reached a series of agreements and memorandums covering economic, investment, energy and security cooperation.
Read more: Al-Zaidi's Washington visit links US oil investment to disarmament deadline
Der-Hagopian succeeds Nazar Al-Khirullah, who had served as Iraq’s ambassador in Washington since June 2023.
https://www.shafaq.com/en/Iraq/New-Iraqi-ambassador-outlines-priorities-for-US-ties
US Federal Reserve Raises Interest Rates By 25 Basis Points To Tackle Inflation
Iraqi News Agency Thursday, 9/17/2026 INA - Follow-up The US Federal Reserve on Wednesday decided to raise interest rates by 25 basis points, marking its first increase since July 2023, in a move aimed at curbing persistent inflationary pressures in the US economy.
Under the decision, the US central bank raised the target range for its benchmark interest rate to 3.75%-4.00%. The decision was unanimous at the conclusion of a two-day meeting of the Federal Open Market Committee.
The Federal Reserve said the move was aimed at supporting a faster return of inflation to its 2% target, while new economic projections showed that price pressures would persist, with inflation as measured by the personal consumption expenditures index expected to reach 3.7% this year and not return to the 2% level before 2029.
Projections by monetary policymakers showed that 16 of the 18 officials expect at least one further 25-basis-point increase before the end of this year, while estimates indicate that the interest rate range will reach 4.00%-4.25% by the end of 2026.
The rate increase comes as inflation remains above the central bank's target, alongside higher energy prices and strength in several US economic indicators, while markets had widely expected a quarter-point rate increase.
Following the decision, US stock indexes posted modest gains, while the dollar index rose about 0.3% and the yield on 10-year US Treasury bonds fell by about 4 basis points.
Amended PMF Law To Reach Iraqi Parliament Soon
2026-09-17 / 09:48 Shafaq News- Baghdad Iraq’s amended Popular Mobilization Forces (PMF) law is expected to reach parliament soon for consideration, a member of the Parliamentary Security and Defense Committee told Shafaq News on Thursday.
Committee member Iskandar Witwit said the lawmakers were awaiting the bill so it could be placed on parliament’s agenda.
“During the committee’s meeting with Prime Minister Ali al-Zaidi last month, we asked him to send the PMF law to parliament for review, first reading and a vote. He promised to do so soon,” Witwit revealed, adding that the committee had revised the law in its entirety, resulting in a bill structured along the lines of the Defense Ministry because the PMF is considered a fully integrated security institution.
Asked whether the post of PMF chairman would be made equivalent to that of a deputy minister or minister, Witwit said the issue was not addressed in the bill.
Meanwhile, an informed source told Shafaq News that political agreement had been reached to give the PMF chairman a status equivalent to that of a minister without portfolio, while keeping the official name of the PMF unchanged. “Changing the chairman’s status would require political consensus.”
Earlier, informed sources said two draft laws covering the PMF’s structure and service and retirement were expected to be referred to parliament after several disputed provisions that had faced what the sources described as a US “veto” were removed.
According to the sources, the two bills would be submitted to parliament in their final form, paving the way for the formal legislative process. https://www.shafaq.com/en/Iraq/Amended-PMF-law-to-reach-Iraqi-parliament-soon
Iraq Trucks Southern Crude North In Bid To Raise Exports Via Turkey
By Aref Mohammed and Ahmed Rasheed September 16, 20261
Summary
Trial began on September 13, lasting two days
About 38,000 barrels moved in 209 trucks
Iraqi exports from the south disrupted by Iran war
BASRA, Iraq, Sept 16 - Iraq has launched a pilot operation to transport crude oil by road from its southern oilfields to a Kirkuk storage facility in an effort to boost supplies to the northern export system and potentially increase shipments through Turkey's Ceyhan port.
The initiative forms part of broader Iraqi efforts to increase flows through the northern export route after the U.S.-Israeli war on Iran disrupted Iraq's shipments through the Strait of Hormuz, its main export route.
Iraq's oil ministry has contracted local company KAR Group to transport the crude using its fleet of tanker trucks, an oil ministry spokesperson said. The arrangement was confirmed in a statement issued by state-run Basra Oil Company (BOC).
The trial operation began on September 13 and ran for two days, during which a little more than 6 million litres of crude, equivalent to about 38,000 barrels, were moved by 209 tanker trucks, each with capacity of 30,000 litres, BOC said.
"The contract with KAR Group is based on total volumes delivered by tanker truck," said Iraqi oil ministry spokesperson Saleem al-Rikabi, adding that daily transported volumes depend on the number of tankers deployed, loading capacity, road conditions, security clearances and other logistical factors.
KAR Group did not respond immediately to a request for comment.
Current flows from northern Iraq to Turkey's Ceyhan port are estimated at about 200,000 barrels per day (bpd), oil ministry figures show, down from around 250,000 bpd before the Iran war.
The project faces logistical challenges, including limited truck availability and constrained loading infrastructure at southern oilfields, BOC sources said.
The initial volumes remain too small to materially increase northern exports without a significant expansion of transport and loading capacity.
Reporting by Aref Mohammed in Basra and Ahmed Rasheed in Baghdad Additional reporting by Muayad Hameed Editing by Alex Lawler and David Goodman