Reset Intelligence: Iraq Nears an IMF Reform Plan
By Reset Intelligence | @EXIT_FIAT
On Wednesday, Iraq and the IMF closed a round of talks in Amman with progress on a three-year reform programme for 2027 to 2029. No sum has been named and nothing is signed yet.
On the same day, Prime Minister Ali al-Zaidi and Speaker Haibat al-Halbousi each opened an inquiry into oil reported stolen from a pipeline south of Baghdad, and into a smuggling route for Iraqi oil through Iran to Afghanistan.
The Fund's conditions
In October the Fund's managing director, Kristalina Georgieva, promised Iraq "both money and policy support". Days later Mahmoud Dagher, the Central Bank's adviser, said what the Fund would ask for in return: tighter control of public spending and of the state payroll. On Wednesday al-Zaidi also began reviewing how each of his ministers is performing. No reshuffle is planned.
What else moved
Jurf al-Sakhr - Kataib Hezbollah has held this district south of Baghdad since 2014. By its own account, the intelligence report shows a tapped state pipeline and tankers holding 36,000 litres each. Babil's governor denies it.
Militias - Iraqi media report factions are handing back weapons kept in one another's depots ahead of the state handover.
London - Tom Barrack, Washington's envoy to Iraq, called Iraq a "magic key that unlocks the door" and said: "We were guests in this country, and many times we were bad guests." Deputy Prime Minister Muhsin al-Mandalawi said ExxonMobil and Chevron contracts are in their final stages.
Khor Mor - Al-Zaidi wants the final report on Sunday's attack on the gas field issued fast, with deterrent legal action.
Budget - Lawmakers put the cabinet vote on Saturday, November 14, or Tuesday, November 17.
Baghdad's street - Baghdad's exchanges closed Wednesday at 169,000 IQD for $100, against the Central Bank's 152,000.
The question
Baghdad is moving on its spending and its oil before the Fund has signed anything. Why now, and what could it do to the street price?
That is the short version. Why Baghdad is moving before the Fund signs, what the oil inquiries can reach, and what it means for the IQD - that is the daily read.
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