Iraq Economic News and Points To Ponder Wednesday Afternoon 6-24-26
Parliamentary Integrity: Important Files Whose Details Will Be Revealed To The Public
Money and Business Economy News – Baghdad The Parliamentary Integrity Committee revealed that there are many important files that are being prepared to be opened and their details revealed to the public, especially those related to the waste of public money and the exploitation of official influence.
Shahid said, according to the official newspaper and followed by “Al-Eqtisad News”, that “corruption is no longer just individual cases or limited violations, but has turned into an intertwined system that has directly affected government performance and weakened citizens’ trust in state institutions.”
He added that “taking serious measures to curb the influence of corrupt individuals within state institutions would pave the way for the more efficient implementation of government and service programs, as well as contribute to achieving social justice and equal opportunities among citizens.”
The MP stressed that "the current stage requires a firm political will and practical measures that go beyond slogans and promises," stressing that "there are many important files that are being prepared to be opened and their details revealed to the public, especially those related to the waste of public money and the exploitation of official influence."
He pointed out that "the House of Representatives stands in support of every reform step taken by the government and the Integrity Commission in this direction," stressing that "the oversight role of the Council will be strongly present during the next stage by following up on all integrity files and the results of investigations and judicial procedures related to them."
https://www.economy-news.net/content.php?id=70644
Trade: Lower Shipping Costs Will Be Reflected In Commodity Prices
Money and Business Economy News – Baghdad The Ministry of Commerce announced on Wednesday an integrated plan to enhance strategic reserves and combat monopolies, while noting that the decrease in shipping costs will be reflected in commodity prices during the coming period.
Ministry spokesman Mohammed Hanoun said that "the return of maritime traffic to normal through the Strait of Hormuz, and the arrival of ships loaded with food and basic goods, represents an important factor in strengthening the stability of local markets, especially since any disruption in maritime transport routes is directly reflected in shipping and insurance costs and the prices of imported goods."
Hannon added that "the Ministry of Trade is continuously monitoring market movements and price indicators for food and basic commodities, and will assess the impact of reduced transportation and shipping costs after the resumption of normal shipping operations, ensuring that this is reflected in the prices traded in local markets."
He explained that "the improved flow of supplies and the increased volume of goods offered lead to a reduction in the pressures that some goods experienced during the past period."
He stressed that “the ministry has a work plan based on several axes, most notably strengthening the strategic stock of basic materials, monitoring the smooth entry of goods through various ports, as well as coordinating with the competent regulatory authorities to monitor any cases of monopoly or exploitation that may lead to keeping prices at high levels despite the disappearance of the reasons that led to their rise.”
He pointed out that "the ministry is working to provide accurate indicators of market activity and the available quantities of food products, which contributes to achieving a balance between supply and demand and preventing any shortages that may affect price stability."
He added that "the continued flow of goods at normal rates will give the market greater flexibility and enhance competition between importers and traders, which will have a positive impact on the consumer."
He pointed out that "the ministry's goal is to maintain food security and ensure the availability of basic commodities for citizens at fair prices," stressing "the continuation of monitoring procedures and field follow-up during the next phase to ensure that the market and the consumer benefit from any decrease in import, transportation and shipping costs."
https://www.economy-news.net/content.php?id=70662
Japan Plans To Improve The Management Of Reserves Allocated To Support The Yen
Money and Business Economy News - Follow-up A draft report on Japan's growth strategy, seen by Reuters on Wednesday, shows the government plans to explore ways to improve the management of its $1.3 trillion foreign exchange reserves, which are considered a "reserve" for future intervention in the yen market.
The plans reflect the Japanese government's desire to boost reserve returns and help refinance its dwindling finances, as Prime Minister Sanae Takaichi pledges proactive spending to support the world's fourth-largest economy.
The draft strategy, a key pillar of Takaichi's policy agenda, states: "The government will examine the benefits of improving the management of assets owned by the public sector, including the special account of the foreign exchange fund, and making more effective use of them, taking into account their intended purposes."
Financial markets: Currency yen near 40-year low despite Japanese interest rate hike
Tokyo resumed intensive intervention in late April when the currency fell to over 160 yen to the dollar, through a $73 billion yen purchase, resulting in a record 5.6% drop in reserves in May, highlighting the limits of continued and large-scale intervention.
The draft strategy does not specify particular changes to the allocation of reserve assets, which have accumulated during previous interventions to buy dollars and are believed to be largely invested in U.S. Treasury bonds.
The bulk of the surplus reserves, including proceeds from US Treasury bonds, is transferred to the general account as a source of funding for the state budget.
Takaichi had once stated that foreign reserves were the main beneficiary of the yen's weakness and that they were "performing very well," a remark some government officials interpreted as a sign that she hoped to use the surplus to fund a controversial plan to suspend the consumption tax on food items.
However, government officials said that making a radical change to the reserve portfolio would be unrealistic, given that the reserves are held primarily as a readily available source of funds for intervention in the currency market.
An informed source, who declined to be identified due to the confidentiality of the report, said, "It will be difficult to pursue returns in a way that conflicts with the purpose of the reserves." https://www.economy-news.net/content.php?id=70646
Iraq Reduces Its Imports Of Fish And Seafood To About $25 Million
Money and Business Economy News – Baghdad Data from the International Trade Centre showed that Iraq reduced its imports of fish, crustaceans, molluscs and other aquatic invertebrates during 2025 to $24.978 million, compared to $68.413 million in 2024, and $77.362 million in 2023.
According to the data, Iraq was among the world's importers of these products, but the value of imports recorded a sharp decline last year, after the significant increase it witnessed in previous years.
She noted that frozen fish topped the list of imported products within this category with a value of $11.226 million in 2025, compared to $51.777 million in 2024, followed by fresh or chilled fish with a value of $10.022 million, then crustaceans with a value of $1.512 million, and fish fillets and meat with a value of $1.375 million.
Imports of live fish amounted to $442,000, dried, salted and smoked fish to $302,000, while imports of molluscs amounted to $94,000, and other aquatic invertebrates to $3,000.
According to data from the International Trade Centre, Iraq’s imports of these products amounted to $29.422 million in 2021, rising to $48.948 million in 2022, then to $77.362 million in 2023, before declining to $68.413 million in 2024, and continuing to decrease to $24.978 million during 2025. https://www.economy-news.net/content.php?id=70653
Iraq: Domestic Debt Rises To 95.7 Trillion Dinars, While External Debt Declines
banks Economy News – Baghdad Data from the Central Bank, released on Wednesday, showed that domestic public debt rose to 95.7 trillion dinars by the end of April 2026, while external debt saw a decline on an annual basis.
According to the bank's data, domestic public debt rose to 95.679 trillion dinars by the end of April of this year, compared to 90.515 trillion dinars recorded at the end of 2025, an increase of 5.164 trillion dinars, and about 12.629 trillion dinars compared to 2024, when it reached 83.050 trillion dinars.
According to the data, this increase was driven by the increase in the total liabilities of the Ministry of Finance to the Central Bank of Iraq to 55.699 trillion dinars as of April 2026, compared to 45.699 trillion dinars in 2025.
In contrast, loans decreased to 20.270 trillion dinars, after having been 22.899 trillion dinars, and the value of bonds decreased to 10.868 trillion dinars, compared to 13.075 trillion dinars, while treasury bills remained stable at 8.842 trillion dinars.
Iraq’s external debt reached $54.101 billion in 2025, down from $54.601 billion in 2024 and $56.207 billion in 2023, a total decrease of $2.106 billion over two years, according to data from the Central Bank of Iraq.
The data indicates that domestic debt continued to rise during the first four months of 2026, while external debt continued its downward trend compared to previous years. https://www.economy-news.net/content.php?id=70652