Iraq Economic News and Points To Ponder Tuesday Afternoon 2-24-26

US Will Not Decide Iraq’s Prime Minister, Coordination Framework Says

2026-02-24 Shafaq News- Baghdad   Iraq’s Shiite Coordination Framework (CF) will not change its nominee for prime minister because of any US decision, senior lawmaker Bahaa Al-Araji told Shafaq News on Tuesday.

Reconstruction and Development (Al-Ima’ar wal Tanmiya) parliamentary bloc leader Al-Araji said the CF will assess the candidate’s acceptability within the alliance and among other political forces, adding that a meeting next week will name a nominee “whether Nouri Al-Maliki or another figure.” He denied receiving any US message and described the premiership as “a purely Iraqi matter.”

Earlier, Al-Maliki told Agence France-Presse he remains committed to his candidacy, as it was agreed within the Framework. Sources have explained to Shafaq News that Al-Maliki sees withdrawal as capitulation to US objections, while some leaders fear removing his name would carry the same political cost.

The Framework, parliament’s ruling alliance, remains divided over Al-Maliki’s bid amid US warnings linked to his 2006–2014 premiership and recent criticism by US President Donald Trump, who cautioned that his return could lead Washington to cut aid to Iraq. The dispute has delayed formal meetings, with mediation efforts underway and talk of rallying a majority vote to revoke his nomination.

Read more: Iraq’s next Prime Minister held hostage by US-Iran standoff

https://www.shafaq.com/en/Iraq/US-will-not-decide-Iraq-s-prime-minister-Coordination-Framework-says

February Fuel Prices Surge Internationally

2026-02-24 Shafaq News- Washington   Global refined fuel prices moved higher in the third week of February, with 95-octane gasoline reaching $660 per metric ton, S&P Global Commodity Insights Platts reported on Tuesday.

According to the figures shared, the average price of 95-octane gasoline increased 0.8% from $655 a week earlier.

Ninety-octane gasoline climbed to $638 per ton from $634, up 0.6%, while diesel registered a stronger gain, reaching $649 per ton compared with $634, a 2.4% rise.

Kerosene advanced to $688 per ton from $669, up 2.8%, and fuel oil moved up to $436 per ton from $428, marking a 1.9% increase. Liquefied petroleum gas (LPG) recorded one of the largest weekly jumps, averaging $541 per ton compared with $521 previously, up 3.8%.

In the broader energy market, Brent crude also edged higher, ticking up to $72 per barrel from $71, an increase of 1.4%.

https://www.shafaq.com/en/Economy/February-fuel-prices-surge-internationally

Iraq Inflation Steadies In Early 2026

2026-02-24 Shafaq News- Baghdad  Iraq’s inflation held ground in January 2026, keeping the cost of living largely unchanged compared with the same month last year, the Ministry of Planning reported on Tuesday.

Citing figures shared by the Central Statistical Organization and the Geographic Information Systems, Abdul Zahra Al-Hindawi, the Ministry's spokesperson, noted that monthly prices edged up slightly by 0.9% compared with December 2025.

On an annual basis, compared with 2024, inflation followed a shifting pattern throughout the year. Prices rose during the first five months of 2025, peaking in January with an annual increase of 2.3%. From June onward, annual inflation turned negative and continued to decline through the final months of the year.

Iraq’s annual inflation rate stood at 2.6% in 2024, down from 4.4% in 2023 and 5% in 2022, according to recent figures released by the International Monetary Fund (IMF).

Read more: Without oil: Iraq's economic future hanging in the balance

https://www.shafaq.com/en/Economy/Iraq-inflation-steadies-in-early-2026

Dollar Rises In Baghdad And Erbil

2026-02-24 Shafaq News- Baghdad/ Erbil   The US dollar closed Tuesday’s trading higher in Iraq, hovering around 153,000 dinars per 100 dollars.

According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,500 dinars per 100 dollars, up from the morning session’s 153,300 dinars.

In the Iraqi capital, exchange shops sold the dollar at 154,000 dinars and bought it at 153,000 dinars, while in Erbil, selling prices stood at 153,150 dinars and buying prices at 153,100 dinars.

https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-and-Erbil-6

Gold Prices Gain In Baghdad And Erbil

2026-02-24   Shafaq News- Baghdad/ Erbil   On Tuesday, gold prices hovered around 1.12 million IQD per mithqal in Baghdad and Erbil markets, marking an increase from the previous session, according to a survey by Shafaq News Agency.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 1.120 million IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1.116 million IQD. Prices had closed at 1.104 million IQD on Monday.

The selling price for 21-carat Iraqi gold stood at 1.090 million IQD, while the buying price reached 1.086 million IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1.120 million and 1.130 million IQD, while Iraqi gold sold for between 1.090 million and 1.100 million IQD.

In Erbil, 22-carat gold was sold at 1.178 million IQD per mithqal, 21-carat gold at 1.125 million IQD, and 18-carat gold at 965,000 IQD.   https://www.shafaq.com/en/Economy/Gold-prices-gain-in-Baghdad-and-Erbil

ISX Trades +$4M In Weekly Trading

2026-02-24 Shafaq News- Baghdad   The Iraq Stock Exchange (ISX) recorded more than 5 billion Iraqi dinars (roughly $4M) in trading value last week, marking an 82% increase compared with the previous week.

According to market data, 3.493 billion shares were traded worth 5.676 billion dinars, up 92% in volume from the previous week, through 3,680 transactions.

The ISX60 index closed at 966.09 points, reflecting a 1.43% increase from the previous session.

Investors traded shares of 74 companies, while 20 others saw no activity due to unmatched buy and sell orders. Ten companies remained suspended for failing to submit required disclosures.

Non-Iraqi investors purchased 100 million shares worth 55 million dinars through 44 transactions, while selling 1 billion shares valued at 2 billion dinars through 313 transactions.

The Iraq Stock Exchange holds five trading sessions per week, from Sunday to Thursday, and includes 104 listed Iraqi joint-stock companies representing the banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotel, and service sectors.   https://www.shafaq.com/en/Economy/ISX-trades-4M-in-weekly-trading