Iraq Economic News and Points To Ponder Monday Morning 8-10-26
Will The Central Bank's Funds Be Sufficient To Cover Salaries? An Economist Explains.
Information/Baghdad...Economic expert Safwan Qusay clarified the Central Bank's ability to secure salaries for the upcoming period given the current circumstances.
Qusay told Al-Maalouma, “Iraq exports oil to the Turkish port of Ceyhan and 120,000 barrels per day via tankers to Banias in Syria, in addition to exports through the south towards the Strait of Hormuz, which approached 42 million barrels last July.”
He added, "Iraq succeeded in generating up to $3 billion from these exports, but this amount is insufficient to cover salaries, pensions, social welfare, and the food basket. Therefore, the Ministry of Finance resorts to allocating funds from other budget items to support expenditures."
He explained that "the government has turned to domestic borrowing through the Central Bank, which possesses sufficient liquidity to meet the Ministry of Finance's requests until the end of the current year," noting "the importance of maximizing revenue collection, which gives the Ministry of Finance an opportunity to rely on non-oil revenues." End 25N
Al-Zaydi Directs The Monetary Stability Board: Adopt Practical Solutions To Financial Challenges
2026-08-08 | Baghdad - 964 Prime Minister Ali Faleh al-Zaidi directed the council on Saturday (August 8, 2026) to adopt practical solutions to address the current financial and monetary challenges, during the second session of the Financial and Monetary Stability Council.
Al-Zaydi’s office stated in a statement received by 964 Network that he chaired the second session of the Supreme Council for Financial and Monetary Stability on Saturday, in the presence of the heads and directors of the relevant authorities and institutions.
During the session, a number of files and issues related to the financial, monetary and economic conditions at the national level were discussed, along with current indicators and challenges, and ways to enhance coordination and integration between fiscal and monetary policies, in order to promote financial and economic stability.
The Council also discussed mechanisms to improve the management of non-oil resources and provide liquidity, support economic and banking reform paths, and enhance the efficiency of the financial system, in order to contribute to consolidating stability and achieving a more sustainable economic environment.
The Prime Minister stressed the importance of continuing coordination and joint work between the relevant ministries and institutions, following up on the implementation of the decisions and recommendations issued by the Council, and adopting practical solutions to the financial and monetary challenges, in order to maintain economic stability, enhance the ability of the national economy to cope with changes, and stimulate economic activities, especially non-oil ones. https://964media.com/705983/
Finance Minister Meets Central Bank Governor On Monetary Stability
Mohammed Jangadost At a Glance:
Minister Faleh al-Sari met Central Bank Governor Nizar Naser Hussein today.
Talks focused on aligning fiscal and monetary policies amid economic challenges.
Key goals include improving data exchange and accelerating digital transformation.
Both leaders reaffirmed joint commitments to satisfy state financial obligations.
Iraqi Finance Minister Faleh al-Sari received the Governor of the Central Bank of Iraq, Nizar Naser, on Sunday to discuss strategies for reinforcing monetary stability and improving inter-agency coordination.
The high-level meeting focused on aligning fiscal policy with central banking operations to efficiently manage state cash flows, enhance public finance management, and navigate pressing economic challenges facing the national economy.
Key Statements and Focus Area
Fiscal Policy Alignment: Finance Minister Faleh Sari stressed that "current conditions require continuous coordination between financial and monetary policy" to ensure efficient management of public funds.
Institutional Modernization: Highlighting technological priorities, Minister al-Sari emphasized "the importance of strengthening data exchange between the Ministry of Finance and the Central Bank, as well as accelerating digital transformation."
Central Bank Strategy: Central Bank Governor Nizar Naser Hussein outlined operational priorities, stating that the central bank follows "a methodology focused on supporting monetary stability, developing banking operations, and keeping pace with the needs of the national economy."
State Commitments: Both leaders agreed on shared operational goals"to continue joint work on procedures designed to enhance financial and monetary stability and ensure the regular fulfillment of the state's basic obligations."
Inter-Agency Policy Alignment
During Sunday's summit, Minister Faleh al-Sari and Central Bank Governor Nizar Naser Hussein conducted a comprehensive review of Iraq's financial and economic position.
The discussions centered on creating seamless integration between fiscal policy managed by the Ministry of Finance and monetary controls directed by the Central Bank. Both leadership teams emphasized that joint policy execution is critical to managing liquidity, securing public expenditure, and mitigating external economic pressures on the national economy.
Modernization and Data Architecture
A core outcome of the meeting was an agreement to upgrade digital infrastructure and data-sharing frameworks between both state institutions.
Minister al-Sari noted that expanding real-time data integration and implementing digital financial tools will significantly increase operational efficiency across financial institutions, allowing regulators to adapt faster to volatile economic conditions and improve broader public finance management.
Banking Operations and National Obligations
Governor Hussein detailed ongoing initiatives by the Central Bank to modernize commercial banking services and maintain financial sector resilience.
The two entities confirmed a unified framework aimed at maintaining stable banking operations while prioritizing the uninterrupted fulfillment of basic government financial commitments, including public sector wage disbursements and state operational expenses.
FYI
The meeting occurs as Iraq continues its sweeping public finance reforms aimed at modernizing fiscal administration and curbing systemic corruption across state banking channels. In recent months, federal institutions have prioritized digital financial reforms, including widespread electronic payment rollout and automated treasury accounting systems, to reduce reliance on cash operations and bring domestic banking standards into alignment with international financial transparency requirements.
Synchronizing Central Bank liquidity measures with Treasury obligations serves as a critical stabilization step to safeguard the national economy against market volatility. https://channel8.com/english/news/63309
Money and gold seized... Details revealed about the raid on the Sudanese man's brother's house
2026-08-08 13:46 Shafaq News - Baghdad A security source reported on Saturday that the house of the brother of former Prime Minister Mohammed Shia al-Sudani in Baghdad was raided, and pieces of gold and money were found.
The source told Shafaq News Agency that "the force holding the ground in the Kadhimiya area, in cooperation with the intelligence of the Second Division and the Federal Intelligence and Investigations Agency, raided the house of Abbas Shia Al-Sudani."
He added, "In the house, 29 pieces of gold or silver were found, 24 pieces of various prayer beads of unknown type, 5 various watches of unknown type, one tablet (iPad), a used phone, and an amount of ten million Iraqi dinars only."
He explained that "the force withdrew without any incident, and the seized items were handed over to the Kadhimiya police station. Currently, a detachment of the Federal Police is present at the house, until the house is taken over by the Federal Integrity Commission."
The Federal Integrity Commission denied this morning that it had raided the home of the brother of a former prime minister in Kadhimiya.
In a statement, the commission said, "We deny what has been circulating on some social media sites regarding a team affiliated with us inspecting the house of the brother of the former Iraqi Prime Minister in the Kadhimiya area
https://www.shafaq.com/ar/أمـن/ضبط-موال-وذهب-الكشف-عن-تفاصيل-مداهمة-منزل-شقيق-السوداني
Dawn Crackdown returns $370M+ to Iraq
2026-08-09 / 02:35 Shafaq News- Baghdad The Iraqi state has recovered an estimated 482.6 billion dinars ($371.6M) in stolen assets under its Dawn Crackdown anti-corruption campaign, roughly equivalent to one month of salaries for the Foreign Ministry and its diplomatic staff, the Eco Iraq Observatory reported on Sunday.
The total comprises about 390.08 billion dinars ($300.3M) in cash, including $141 million converted into Iraqi currency, and half a ton of gold valued at 185,000 dinars per gram.
Observatory Statement for Release
"Dawn Raid" Funds Equivalent to a Full Month's Salaries for the Ministry of Foreign Affairs
Eco Iraq:An analysis by the Eco Iraq Observatory reveals that the stolen funds recovered by the state—as part of the operation known as the "Dawn Raid"—exceed the monthly salary expenditures of several ministries and government bodies, amounting to the equivalent of a full month's salaries for the Ministry of Foreign Affairs.
In a press statement, the Observatory noted that the total cash value of the recovered funds reached approximately 390.08 billion Iraqi dinars, following the conversion of $141 million into the local currency.
It added that factoring in the value of the recovered gold—half a ton, calculated at a rate of 185,000 dinars per gram—raises the total value of recovered assets to approximately 482.6 billion Iraqi dinars.
The Observatory explained that this amount surpasses the monthly salary expenditures of several ministries, including the Ministry of Transport, the Ministry of Environment, the Ministry of Migration and Displaced Persons, and the Ministry of Oil; it is also roughly equivalent to the salaries of the Ministry of Foreign Affairs' staff and diplomatic corps for an entire month.
It further noted that the value of the recovered funds is equivalent to approximately half of the Kurdistan Region’s monthly share of the federal budget, which covers the salaries of the region's employees.
Eco Iraq supports efforts to recover public funds, emphasizing the need for continued transparency regarding the recovered money and assets, as well as their ultimate disposition.
According to Eco Iraq, the sum exceeds the monthly payroll of the Transport, Environment, Migration and Displacement, and Oil ministries, and represents roughly half of the Kurdistan Region’s monthly federal funding, including public-sector salaries.
Launched nationwide on June 28, the ongoing Dawn Crackdown (Sawlat Al-Fajr) targets current and former officials, lawmakers, and business figures suspected of major corruption. The campaign recorded 67 detentions in its initial phase, while a Shafaq News review documented another 31 officials and public employees arrested in seven cases between July 20 and 26 alone.
Read more: Iraqi authorities detain 31 in weekly corruption cases
https://www.shafaq.com/en/Economy/Dawn-Crackdown-returns-370M-to-Iraq