Iraq Economic News and Points To Ponder Tuesday Evening 8-18-26
The Iraqi Dinar: Between Adjustment And Impact... Urgent Parliamentary Messages To The Prime Minister
Baghdad Today - Baghdad MP Saud Al-Saadi called on the government today (August 17, 2026) to clarify the legal and economic basis for the decision to remove zeros from the Iraqi dinar, according to an official document seen by Baghdad Today
In his parliamentary question, Al-Saadi stated that the government must provide the constitutional and legal basis for issuing such a decision, as well as clarify its economic feasibility and the potential effects on the national economy and citizens’ confidence in the local currency.
He also called for revealing whether the Cabinet had prepared a draft law on this matter, specifying the date for the implementation of the decision if it is approved, in addition to stating the reasons for not adopting other monetary and economic alternatives.
Al-Saadi stressed the need to answer these questions within the legal timeframe specified according to the internal regulations of the House of Representatives.
https://baghdadtoday.news/304841-.html
Republic of Iraq
Council of Representatives
Office of Representative
Saud Saadoun Al-Saadi
Killed Iraq
No, no
Secretary of the Parliament
Saud Saadoun Al-Saadi
Number: 2005 Date: 8/16/2026
To the Honorable Prime Minister
Parliamentary Question Regarding the Government's Decision to Remove Zeros from the Iraqi Dinar
Greetings...
Based on the oversight and representative role entrusted to us on behalf of the people according to the provisions of Articles (49) First and (61/Second) of the Constitution, and pursuant to the provisions of Articles (15) and (27) of the Law of the Council of Representatives and its Formations No. (13) of 2018, and pursuant to the provisions of Article (50) of the Internal Regulations of the Council of Representatives No. (1) of 2022
Please Answer The Following Parliamentary Questions:
The Minister of Communications previously appeared on a satellite channel and made a statement about the government issuing a decision to remove zeros from the Iraqi Dinar
1- What is the constitutional and legal basis for the government, represented by the Council of Ministers or the Prime Minister, to issue a decision regarding the removal of zeros from the Iraqi dinar?
- What is the economic feasibility of the decision to remove zeros from the national currency? What are the negative effects of this decision on the Iraqi economy and confidence in the national currency?
Has the Prime Minister or the Council of Ministers prepared a draft law to remove zeros from the Iraqi currency, especially since the Council of Ministers does not possess such authority according to the provisions of Article (80) of the Iraqi Constitution?
- To be continued - https://baghdadtoday.news/304841-.html
Economist: Removing Zeros Will Reduce Inflation And Withdraw Money From Corrupt Officials
Information/Baghdad...Economic researcher Haitham al-Khazali believes that removing zeros from the currency will reduce inflation in the financial markets and markets. He added that it will also draw cash held by citizens, merchants, and investors into banks, and compel corrupt individuals to surrender their illicit funds.
Al-Khazali told Al-Maalouma, “The government’s move to remove zeros from the currency would be a step in the right direction if it proceeds with such a transformation, as it would restore the Iraqi currency’s strength and reduce the inflation rate.”
He added, "Removing zeros opens the door to the reintroduction of smaller denominations, such as dirhams and fils, which were previously in circulation. Moreover, it will force those holding cash, including merchants and investors, to deposit it in banks."
He explained that "removing zeros will reveal the size of the cash held by citizens and will also recover funds acquired by corrupt individuals, ensuring their return to the state." End
Former US Official: Nechirvan Barzani Trusted In Washington And Tehran
2026-08-18 Shafaq News- Washington Kurdistan Region President Nechirvan Barzani is trusted in both Washington and Tehran, a distinction very few people can credibly claim, former US State Department official Thomas Warrick told Shafaq News on Tuesday.
Previous mediation efforts have failed to break the impasse, Warrick said. “Washington values President Barzani’s honesty and his understanding of the actors on the Iranian side,” he said, adding that “Tehran may well feel the same about his understanding of Washington.”
Asked whether the Kurdistan Regional Government’s mediation efforts could succeed where earlier efforts by Qatar and Pakistan had stalled, Warrick said, “A fresh perspective is always useful, and President Barzani certainly brings one.”
However, the differences between Washington and Tehran are too deep to be bridged by any one person. “I am not optimistic that the conflict will end before the US election on November 3.”
Earlier, Axios reported that Barzani helped establish a secret channel between the US administration and Iran’s Islamic Revolutionary Guard Corps (IRGC).
Citing three sources with direct knowledge of the contacts, Axios reported that the White House turned to Barzani because of his longstanding ties with both Washington and Tehran and his contacts with senior Iranian officials.
For Shafaq News, Mostafa Hashem, Washington, D.C.