Iraq Economic News and Points To Ponder Monday Evening 5-11-26
Iraq Finance Minister And European Bank Discuss Economic Reform
Iraq Jawad Al-Samarraie May 11, 2026 The Ministry of Finance in Iraq.
Baghdad (IraqiNews.com) – Iraqi Finance Minister Taif Sami met with Caterina Hansen, Director of the European Bank for Reconstruction and Development (EBRD), on Monday, May 11, 2026. The high-level meeting, which included the head of the Iraqi Fund for External Development, focused on strengthening developmental cooperation and accelerating economic reform pathways within the country.
According to an official statement from the Ministry, both parties reviewed a series of financial and economic files aimed at enhancing institutional performance. Specifically, the discussions highlighted mechanisms to support government projects that improve the efficiency of the financial sector, aligning with Iraq’s broader vision for sustainable economic stability and modern administrative practices.
Furthermore, the meeting explored opportunities for expanding technical and advisory cooperation. Minister Sami emphasized the importance of utilizing international expertise to support the government’s current reform agenda. This partnership is expected to create a more robust environment for investment and development, helping to diversify Iraq’s economy beyond its traditional reliance on oil.
Consequently, the continued coordination between Iraq and the European Bank is seen as a strategic step toward modernization. By integrating global financial standards and fostering institutional development, Iraq aims to ensure long-term fiscal health and a more resilient economic infrastructure for its citizens.
https://www.iraqinews.com/iraq/iraq-finance-minister-european-bank-cooperation-2026/
Iran's President Thanks Al-Sistani And Iraqis For “Backing Iranian People”
2026-05-11 Shafaq News- Tehran Iranian President Masoud Pezeshkian on Monday thanked Iraq's top Shia cleric, Grand Ayatollah Ali al-Sistani, known as The Marjaiya, for his support of the Iranian people, expressing gratitude as well to the Iraqi people for their solidarity with the Islamic Republic.
In a post on X, Pezeshkian described al-Sistani's religious authority as "an enduring fortress and steadfast pillar for the oppressed."
Masoud Pezeshkian@drpezeshkian
I extend the highest expressions of gratitude for the generous support extended by His Eminence Grand Ayatollah Sayyid al-Sistani (may his shadow endure) toward the Islamic Republic of Iran and those affected by the recent aggression, while appreciating the solidarity of the brotherly Iraqi people. The religious authority has always remained an impregnable fortress and a steadfast pillar for the oppressed.
Last March, al-Sistani urged “Muslims and free peoples of the world” to stand with Iran, warning that the continuation of war risked triggering "sweeping chaos and widespread instability" across the region.
The Marjaiya, alongside several other institutions, also launched a humanitarian aid campaign for both the Iranian and Lebanese peoples during the war.
The Securities Commission Grants The First Approval To A Foreign Brokerage Firm To Operate In The Iraqi Market.
The Iraqi Securities Commission announced on Sunday that it has issued official approval to a foreign brokerage firm to operate within the Iraqi stock markets, making it the first company to obtain this approval according to the modern regulatory procedures recently adopted by the commission .
The commission confirmed in a statement seen by Al-Sa’a Network that “this step comes within its plan aimed at developing and regulating the work environment in the Iraqi financial market, by promoting the principles of transparency, efficiency and commitment to modern international standards, which contributes to supporting investment and stimulating trading activity within the market .”
The statement added that "the Authority is working to attract international expertise and companies to the Iraqi market, with the aim of raising the level of financial and institutional performance and enhancing confidence in the local financial sector, which will positively impact the investment environment in the country ."
He explained that "the foreign company has completed all the necessary technical and regulatory requirements to obtain approval, including investor protection standards and ensuring the integrity of the legal and regulatory procedures for the work of brokerage firms ."
He explained that "granting this approval represents an important indicator of the Authority's direction towards opening the door for new foreign brokerage companies to enter the Iraqi market, which contributes to the development of the Iraqi capital market and increases its ability to attract local and international investments ."
The Authority stressed that "supporting and developing the stock market and protecting investors is one of its main objectives during the next phase, within the framework of its efforts to build a more stable and efficient financial market ."
Sources Told Al-Watan News That A Crucial Meeting Of The Coordinating Framework Will Be Held This Evening To Agree On The Final Formula For Sharing Ministerial Portfolios
latest news Monday, May 11, 2026 Baghdad – One News Sources told Lawan News that the coordinating framework is holding a meeting this evening, which it described as "crucial," to discuss the distribution of ministerial portfolios in the next government.
The sources said that the meeting will focus on resolving the remaining disputes regarding the sovereign and service ministries, and agreeing on the final formula for sharing portfolios between the framework forces and other political forces.
They added that the meeting comes amid escalating pressure to expedite the completion of political understandings, in preparation for passing the government cabinet within the House of Representatives during the next stage. According to the sources, the file of the Ministry of Interior and the service ministries will be among the most prominent files on the table for discussion. https://1news-iq.net/مصادر-لوان-نيوز-اجتماع-حاسم-للإطار-الت/
Iraq PM-Designate ‘Unlikely’ To Present Cabinet This Week
2026-05-11 Shafaq News- Wasit Prime Minister-designate Ali Al-Zaidi is unlikely to submit Iraq’s cabinet lineup to parliament this week despite earlier expectations of a swift confidence vote, Mohammed Al-Mayahy, head of the Wasit parliamentary bloc, told Shafaq News on Monday.
Al-Mayahy warned against rushing the government formation process, saying there was still sufficient constitutional and legal time to finalize the cabinet and cautioning that haste could produce a “distorted government.”
He explained that the next 10 days would likely determine the shape of the incoming government amid “broad political consensus” on forming the cabinet. Safwan Al-Gargari, Secretary-General of Iraq’s Parliament, had revealed that a parliamentary confidence session could be held on Monday or Tuesday once the cabinet lineup is submitted.
Al-Zaidi had not yet adequately reviewed the nominees proposed for ministerial portfolios, Al-Mayahy added, stressing that electoral entitlements and political balance would shape the final cabinet lineup.
Under Article 76 of Iraq’s constitution, Al-Zaidi has 30 days from his April 27 designation to form a government and secure parliamentary approval. Political sources earlier told Shafaq News that disputes continue over several sovereign and security ministries, particularly Oil and Defense, while Al-Zaidi was considering initially presenting around 14 ministerial portfolios for parliamentary approval as negotiations continue.
Read more: Ali al-Zaidi named Iraq's prime minister: Easy nomination, harder road ahead
https://www.shafaq.com/en/Iraq/Iraq-PM-designate-unlikely-to-present-cabinet-this-week
Egypt-China Consortium Launches $71M Iraq Oil Sector Project
2026-05-11 Shafaq News- Baghdad A consortium including Egypt’s Nasr General Contracting Company, a subsidiary of Hassan Allam Holding, and China’s EBS has launched a $71 million residential and logistics complex project for Iraq’s Midland Oil Company aimed at strengthening the country’s energy infrastructure.
During a foundation stone-laying ceremony, Ahmed Al-Mahmoudy, CEO and managing director of Nasr General Contracting, indicated that the company’s operations in Iraq reached around $123 million over the past year, including bridge rehabilitation projects in Mosul and road and intersection development works in Baghdad. Discussions continue over additional infrastructure and transport projects linked to the oil sector, he added.
The project comes as Iraq seeks to expand oil production capacity amid intensifying competition in global energy markets. Data published by S&P Global Energy in January 2026 indicated that Iraq is expected to bring one of the world’s largest new oil field developments online this year, adding substantial crude supplies to markets increasingly shaped by production growth outside the OPEC+ alliance.
Oil remains the backbone of Iraq’s economy, generating more than 90% of government revenue. As the second-largest producer in OPEC+, Iraq pumps around 4.4 million barrels per day.
Earlier this year, the Iraqi Drilling Company announced the drilling and rehabilitation of 237 oil wells nationwide in 2025, stressing Baghdad’s focus on expanding upstream capacity despite repeated calls for broader economic diversification.
Read more: Iraq’s oil bottleneck: Abundance trapped by dependency
https://www.shafaq.com/en/Economy/Egypt-China-consortium-launches-71M-Iraq-oil-sector-project