“Tidbits From TNT” Tuesday 11-18-2025
TNT:
Tishwash: Talabani calls for expediting the enactment of the oil and gas law.
On Monday in Erbil, Deputy Prime Minister of the Kurdistan Region, Qubad Talabani, received a delegation from the US-Kurdistan Trade Council, headed by its president, David Tvorey. The two sides discussed a number of issues of common interest.
During the meeting, discussions focused on the mechanism for developing trade relations between the United States and the Kurdistan Region.
With reference to the economic development process in the region, Qubad Talabani emphasized that “the Kurdistan Region desires that American companies have a larger and more influential role in this process, and expressed the readiness of the regional government to provide all forms of support and facilities in this regard.”
Another focus of the meeting was the oil and gas file, and the Deputy Prime Minister explained, “We are in favor of quickly passing the oil and gas law during the new session of the Iraqi Parliament, which will contribute to resolving the disputes between the region and Baghdad in accordance with the constitution and powers, and in a way that takes into account the special status of the Kurdistan Region.”
Talabani also stressed that “our priority is that the gas wealth should be used to serve the citizens and develop the industrial and economic infrastructure of the Kurdistan Region.” link
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Tishwash: UN representative in Iraq: "The 'new Middle East' can only be shaped by its own people."
The Special Representative of the UN Secretary-General for Iraq, Mohammed al-Hassan, affirmed on Tuesday that the "new Middle East" can only be shaped by its own people, while also indicating the UN's readiness to provide all forms of assistance to Iraq.
Speaking at the Sixth Middle East Peace and Security Forum in Dohuk Governorate, al-Hassan stated, as reported by Al-Ghad Press, that "Iraq's journey towards sustainable development has begun, and the new Middle East can only be shaped by its own people."
He added that "the peoples of the Middle East are weary of wars, after more than 400 years of conflicts, crises, and occupation," calling for "easing the burden on the region's peoples, especially since the Middle East and Iraq are the cradle of civilizations, and it is time for them to shine with civilization as they once did."
He continued, "Moving towards a better future requires wise leadership working for the common good, as the Iraqi people are a creative people," explaining that "the next and true battle is not political, but rather an arena of intellectual and scientific excellence, and Iraq has already begun laying the foundations for such projects."
Al-Hassan stressed "the need to focus on politics and the knowledge economy," emphasizing that "the United Nations is ready to provide all forms of assistance to Iraq." link
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Tishwash: The first crisis after the government transitioned to a caretaker role falls on the shoulders of the citizens: Iraq is without cash.
The recent decision by the Federal Court, which definitively ended the parliamentary term and designated the current government as a caretaker administration, has profoundly altered the state's ability to manage its finances.
According to the constitution, a caretaker government is barred from any powers related to domestic or foreign borrowing, entering into major contracts, or authorizing investment spending. This has placed Iraq in a highly sensitive financial predicament at a time of political instability.
This decision did not come about naturally, but rather coincided with a government vacuum expected to last for many months due to negotiations to form a new government. With the end of the fiscal year approaching and the 2025 budget still unapproved, the government's ability to use any exceptional financial tools to address the deficit has been frozen, while operational spending continues to balloon without any legal basis for funding.
Thus, the way was opened for warnings from experts, foremost among them Nabil Al-Marsoumi, who believes that preventing borrowing under a caretaker government practically means that Iraq is entering a danger zone, with the possibility of the “first financial catastrophe” occurring if an urgent legal solution is not found or political understandings are not accelerated to form a new government with full powers.
According to economists , this situation is unprecedented since 2003, as Iraq has never before faced such a severe financial constraint while burdened with enormous financial obligations, including salaries, social protection, food subsidies, energy costs, and project loans. With no fully empowered government, the Ministry of Finance is operating within a limited scope, allowing it only the necessary expenditures to keep government services running, leaving it with no room for maneuver.
This restriction directly clashed with the results of recent years, as the operating budget expanded to record levels, the number of employees and contractors ballooned, and the payroll bill rose to more than 70 trillion dinars annually, while non-oil revenues remained at modest limits not exceeding 9 trillion dinars.
The court's decision coincided with a significant decline in foreign currency reserves due to the gap between the central bank's purchases of hard currency for the Ministry of Finance and its sales through the dollar window to meet commercial demand. This decline further limited the state's ability to use reserves as a temporary financing alternative at a time when year-end obligations are mounting.
The most alarming aspect is that this fiscal constraint is occurring at a time when the country is experiencing a slowdown in overall economic performance, rising multidimensional poverty rates, and declining service levels, along with signs of expanding unemployment and weakening productivity. According to observers, this makes any unfunded fiscal deficit a multiplier of the social crisis. link
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