Iraq Economic News and Points To Ponder Monday Afternoon 12-13-25

Fitch Affirms Iraq's Credit Rating At 'B-' And Commends Its Internal Stability Despite Challenges

Economy | 15/12/2025  Mawazin News - Follow-up: Fitch Ratings affirmed Iraq's sovereign rating at B- with a stable outlook, praising the country's robust internal stability, which has enabled the economy to withstand regional and global tensions.

The Ministry of Finance stated in a press release that "this rating reflects international confidence in the economy's ability to maintain its fiscal balance, supported by oil revenues, which constitute a primary base for public spending and service provision, while also noting the marked improvement in the security situation, which has helped absorb geopolitical shocks."

The ministry added that "the agency's report indicated the success of government policies in insulating Iraq from regional conflicts, despite the heavy reliance on oil, which represents approximately 90% of revenues, while emphasizing the need for structural reforms to enhance non-oil revenues and improve the efficiency of public spending."

The ministry reiterated its "commitment to implementing reforms to reduce financial uncertainty and approve future budgets, leveraging the security and political stability to bolster the confidence of international financial institutions and diversify national income sources."   https://www.mawazin.net/Details.aspx?jimare=271624

Fuad Hussein And The US Chargé d'Affaires Discuss Joint Cooperation Between The Two Countries

Local | 10:22 - 15/12/2025   Mawazin News - Baghdad:   Deputy Prime Minister and Foreign Minister Fuad Hussein met with the Chargé d'Affaires of the US Embassy in Baghdad, Ambassador Joshua Harris, to discuss bilateral relations between Iraq and the United States.

The Ministry of Foreign Affairs stated in a press release that “Deputy Prime Minister and Foreign Minister Fuad Hussein received the Chargé d'Affaires of the US Embassy in Baghdad, Ambassador Joshua Harris.”

The statement  added that “the meeting addressed bilateral relations between Iraq and the United States and ways to strengthen them in a manner that serves common interests and enhances cooperation in the political, economic, and security fields.”

According to the statement, Hussein pointed to “the ongoing political activity in Iraq and the constructive discussions among political blocs to form the new government,” emphasizing “the importance of consolidating political stability and strengthening national understanding, which will positively impact the democratic process.”

The statement continued that “the two sides discussed regional and international developments and exchanged views on issues of common interest, stressing the importance of coordination and consultation to address current challenges.”

Both parties affirmed “the necessity of de-escalation in the region and working to reduce tensions in a way that contributes to supporting regional security and stability.”   https://www.mawazin.net/Details.aspx?jimare=271642

Gold Gains As The Dollar Weakens And The World Awaits US Jobs Data.

Economy | 09:54 - 15/12/2025   Mawazin News - Follow-up:  Gold prices rose on Monday, benefiting from a weaker dollar and lower Treasury yields, as markets awaited key US jobs data for clues about the Federal Reserve's monetary policy direction. Silver prices stabilized after record gains last week.

Gold continued its upward trend, supported by a weaker dollar and lower US Treasury yields. Spot gold rose 0.4% to $4,320.65 an ounce by 03:19 GMT, marking a gain of approximately 64% since the beginning of the year.
US gold futures also rose 0.6% to $4,354.00 an ounce.

Gold prices fluctuated near their lowest level in two months, reached last week, which boosted its appeal to foreign buyers, coinciding with a slight decline in the benchmark 10-year US Treasury yield.

Markets remain focused on the Federal Reserve's monetary policy outlook after the US central bank cut interest rates by 25 basis points last week in a rare and divisive move, signaling a possible pause given persistent inflation and uncertain labor market prospects.

In other precious metals, spot silver rose 0.8% to $62.48 an ounce, after hitting a record high of $64.65 on Friday before closing sharply lower.

Silver prices have surged 115% year-to-date, driven by declining inventories, strong industrial demand, and its inclusion on the US list of vital metals.   Meanwhile, spot platinum fell 0.2% to $1,741.82 an ounce, while palladium rose 0.1% to $1,502.29 an ounce.   https://www.mawazin.net/Details.aspx?jimare=271607

The dollar exchange rate has risen in Baghdad; the bill now costs 143,000 dinars.

Economy | 01:49 - 15/12/2025   Mawazin News – Baghdad   : The exchange rate of the US dollar against the Iraqi dinar in local markets in Baghdad witnessed fluctuations.

The selling price reached 143,750 dinars per 100 US dollars, while the buying price reached 142,750 dinars per 100 US dollars.   https://www.mawazin.net/Details.aspx?jimare=271619

The International Energy Agency Expects Global Oil Demand To Rise Next Year.

Monday, December 15, 2025, | Economy Number of views: 180   Baghdad/ NINA / The International Energy Agency (IEA) forecasts that global oil demand will grow by 860,000 barrels per day (bpd) next year, an increase of 90,000 bpd, compared to an estimated 830,000 bpd growth this year.

According to the agency's oil market report released Monday, demand for gasoline and jet fuel accounts for roughly half of the overall growth in oil demand, as demand for petroleum fuels declines in favor of solar energy and natural gas for electricity generation.

The IEA also predicts that the petrochemical sector will continue to drive oil demand, with its share of total oil consumption expected to rise to 60% next year, up from 40% this year.

Conversely, global oil supply fell by 610,000 barrels per day in November, continuing its decline from a record high of 109 million barrels per day in September.

Global oil supply growth also decreased by 100,000 barrels per day to 3 million barrels per day in 2025, and by 20,000 barrels per day in 2026.   https://ninanews.com/Website/News/Details?key=1266951

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