Iraq Economic News and Points To Ponder Thursday Morning 1-1-26
End Of The UN Mission In Iraq
December 31, 2025 Baghdad (AFP) – The United Nations Assistance Mission for Iraq (UNAMI) will end its 22-year mission on Wednesday evening in a country that has become relatively stable and is working to recover from decades of conflict.
This comes at the request of Baghdad, and last year the UN Security Council extended the mandate of the mission, which was in Iraq to provide support and advice during the political transition that followed the 2003 US invasion that toppled Saddam Hussein’s regime, for a final period until December 31, 2025.
On Tuesday evening, the caretaker government authorized Foreign Minister Fuad Hussein to “sign a draft memorandum of understanding for the mission closure plan (…) and transitional security needs, regarding the handover of the compound occupied by the mission in Baghdad and related matters,” according to an official statement.
The support provided by the mission to the Iraqi authorities extended to the areas of political dialogue and national reconciliation, and it helped in organizing elections and supported security sector reform.
Shortly after the mission was established, the United Nations headquarters in Baghdad was attacked by a truck bomb on August 19, 2003, killing the first United Nations Special Representative to Iraq, Sergio Vieira de Mello, along with 21 other people.
In recent years, as Iraq has regained some stability, the Iraqi authorities have concluded that there are no longer any justifications for the continued presence of a UN political mission in the country.
A former Iraqi government official confirmed to AFP that ending the mission confirms “that Iraq today is not the same as it was in 2003 or 2013.”
The official, who cooperated closely with the UN mission, particularly during the Islamic State's control of large areas of the country (2014-2017), said the timing of ending the mission was in line with "the radical shift from wars, dictatorship, sanctions and terrorism."
From Baghdad, UN Secretary-General Antonio Guterres affirmed on December 13 that “the United Nations will continue to support the Iraqi people on their path towards peace, sustainable development and human rights,” through the various UN agencies and programs operating in Iraq. LINK
Customs Authority: Revenues Exceed 2.5 Trillion Dinars During The Current Year
Money and Business Economy News – Baghdad The General Authority of Customs announced that its revenues during the year 2025 exceeded 2.5 trillion dinars, an indicator that reflects the high performance of the Authority and its ability to effectively manage the transit system and customs operations, and to enhance the contribution of non-oil revenues to the state’s general budget.
The head of the Customs Authority, Dr. Thamer Qasim Dawood, told Al-Sabah, as reported by Al-Eqtisad News, that the authority achieved revenues exceeding 2 trillion and 530 billion dinars during the current year.
He added that the Authority has succeeded in implementing modern and advanced transit systems, most notably the operation of receiving transit trucks via (RORO) ships within the customs TIR system, in a step that is the first of its kind in Iraq, and aims to integrate land and sea transport within a single system in accordance with modern international standards.
He explained that operating these ships contributes to accelerating the movement of shipments and ensuring their smooth passage, through simplifying technical and administrative customs procedures, and using electronic locks to track the path of goods from entering Iraqi territory until they leave towards the destination country, in continuous coordination with the competent authorities.
Dr. Qasim emphasized that this achievement aligns with the government's vision to enhance Iraq's position as a regional trade corridor, leveraging its strategic geographical location that connects it to neighboring countries and provides opportunities to maximize non-oil revenues.
He added that the Authority has fully coordinated with the Ministry of Transport, the Ports Authority, the Border Ports Authority, and land and sea transport companies, in addition to cooperating with the International Road Transport Union (IRU), through joint working rooms and organized data exchange, to ensure the implementation of operations without any obstacles.
He explained that operating this type of multimodal transport contributes to creating direct and indirect job opportunities, increasing Iraq’s attractiveness to local and international investments, as well as revitalizing the commercial and service sectors related to transport and trade.
The head of the authority indicated that it has adopted future plans to expand (RORO) lines and link them to additional border crossings, as well as developing infrastructure and improving customs procedures in all centers, which will contribute to enhancing non-oil revenues and stimulating international transit traffic.
Regarding the challenges, Dr. Qasim stressed that the most prominent of them was the novelty of the experience and the multiplicity of participating entities. However, the Authority succeeded in overcoming them through prior planning, building specialized technical teams, continuous field coordination, and benefiting from international expertise in cooperation with the International Road Transport Union, which contributed to the success of the process and the achievement of its goals.
The head of the authority concluded his statement by saying: “The General Authority of Customs is working to provide a sophisticated and secure customs environment that ensures the smooth flow of goods and supports the national economy, and affirms Iraq’s commitment to strengthening its role as a reliable regional trade corridor, which benefits investors and companies and enhances the state’s public revenues.” https://economy-news.net/content.php?id=64038
Reconstruction And Development Praises The Government And Announces The Beginning Of A New Chapter For Iraq After The End Of UNAMI's Mission
Political | 01:45 - 31/12/2025 Mawazin News – Baghdad Iraq is witnessing a pivotal historical moment today with the announcement of the end of the United Nations Assistance Mission for Iraq (UNAMI) mission. The Iraqi people are regaining their full right to national decision-making, and sovereignty is returning to its rightful place after twenty-two years of restrictions and foreign interference.
The Reconstruction and Development Coalition expressed its appreciation and pride in the Iraqi government, headed by Mr. Mohammed Shia al-Sudani, commending what it described as the national efforts exerted by the government until the very last day of UNAMI's mandate.
These efforts, the coalition stated, were aimed at preserving the interests of the Iraqi people, safeguarding national sovereignty , and leading the country towards a new phase based on independence and self-reliance.
The coalition also praised the role played by the Special Representative of the Secretary-General of the United Nations and Head of UNAMI, Mr. Mohammed al-Hassan, noting his pivotal contribution to supporting Iraq during the transitional phase and facilitating dialogue among national parties. This contributed to consolidating stability and strengthening the foundations of state institutions.
The coalition affirmed that the end of UNAMI's mission represents the culmination of national sovereignty and the beginning of a new chapter in Iraq's journey, opening broad horizons for comprehensive development, sustainable economic growth, and the building of balanced international relations based on supreme national interests.
It clarified that this step reflects Iraq's transition from crisis management to Long-term development planning, relying on self-reliance and efforts while benefiting from the United Nations' expertise in the fields of development and institutional capacity building.
In this context, the coalition appreciated the constructive efforts of the Secretary-General of the United Nations, António Guterres, and the work of the UNAMI mission since its establishment in 2003, which constituted an important pillar in supporting Iraq to achieve stability and build its national institutions.
The coalition concluded its statement by emphasizing that this historic day heralds the beginning of a new phase in which the future of Iraq is shaped by the will of its people and in which the people's right to determine their destiny freely and with full sovereignty is preserved, with a commitment to protecting the independence of national decision-making and consolidating the foundations of a modern and prosperous state. https://www.mawazin.net/Details.aspx?jimare=272128
Gold Prices In Baghdad And Erbil Markets Have Fallen Again.
Wednesday, December 31, 2025, 2:27 PM | Economy Number of views: 190 Baghdad ( NINA ) – Gold prices, both foreign and Iraqi, fell on Wednesday in local markets in Baghdad and Erbil for the second consecutive day.
The wholesale price of 21-karat gold (Gulf, Turkish, and European) in Baghdad's Al-Nahr Street markets this morning was 875,000 Iraqi dinars per mithqal (approximately 4.5 grams), with a buying price of 871,000 dinars. Yesterday, Tuesday, prices
were 883,000 dinars per mithqal. The selling price of 21-karat Iraqi gold was 845,000 dinars per mithqal, with a buying price of 841,000 dinars.
In jewelry shops, the selling price of 21-karat Gulf gold ranged between 875,000 and 885,000 dinars per mithqal, while the selling price of Iraqi gold ranged between 845,000 and 855,000 dinars per mithqal.
Gold prices in Erbil also saw a decrease, with 22-karat gold selling for 916,000 dinars, 21-karat for 875,000 dinars, and 18-karat for 750,000 dinars. /End https://ninanews.com/Website/News/Details?key=1269493
Iraqi Oil Exports To America Declined During The Week.
Energy Economy News – Baghdad The U.S. Energy Information Administration announced on Wednesday that Iraqi oil exports to the United States decreased last week.
The administration said in a statistic seen by “Al-Eqtisad News” that “the average US imports of crude oil during the past week from ten major countries amounted to an average of 5.414 million barrels per day, a decrease of 261 thousand barrels per day from the previous week, which amounted to an average of 5.675 million barrels per day.”
She added that "Iraq's oil exports to America averaged 181,000 barrels per day, down by 125,000 barrels per day from the previous week, which averaged 306,000 barrels."
The administration also noted that "most of America's oil revenues last week came from Canada at a rate of 3.975 million barrels per day, followed by Saudi Arabia at 310,000 barrels per day, Mexico at an average of 254,000 barrels, and Libya at a rate of 175,000 barrels per day."
According to the table, "US crude oil imports averaged 171,000 barrels per day from Venezuela, 137,000 barrels per day from Ecuador, 122,000 barrels per day from Colombia, 50,000 barrels per day from Brazil, and 37,000 barrels per day from Nigeria."
The United States imports most of its crude oil and refined products from these ten major countries. Its daily oil consumption is approximately 20 million barrels, making it the world's largest oil consumer. https://economy-news.net/content.php?id=64041
Dollar Prices Rise In Baghdad And Erbil
Stock Exchange The exchange rate of the dollar against the dinar rose on Wednesday evening in the markets of Baghdad and Erbil, coinciding with the closure of the stock exchange on New Year's Eve.
The dollar prices recorded an increase in the Al-Kifah and Al-Harithiya exchanges, reaching 144,700 dinars for every 100 dollars, after it had recorded 144,250 dinars this morning.
Regarding currency exchange shops in the local markets of Baghdad, prices have risen significantly; the selling price reached 145,250 dinars, while the buying price reached 144,250 dinars for every 100 dollars.
In Erbil, prices also rose, with the selling price reaching 143,550 dinars and the buying price reaching 143,450 dinars for every 100 dollars. https://economy-news.net/content.php?id=64054
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