TNT:
Tishwash: An economist warns of a "cost of living setback" due to exchange rate volatility.
Economic expert Abdul Rahman Al-Mashhadani warned on Monday of the significant negative repercussions of exchange rate instability and the current market turmoil. He emphasized that relying on stopgap solutions and manipulating the currency directly harms citizens' purchasing power and is detrimental to the economy.
In a statement to the Information Agency, Al-Mashhadani said, "The true salvation of the Iraqi economy does not lie in changing the exchange rate or raising the price of the dollar, as these measures may provide quick and temporary liquidity to the state treasury, but they do not constitute financial reform in themselves without comprehensive strategic plans."
He added, "The Iraqi market is experiencing clear turmoil that necessitates a genuine and urgent review by the Central Bank of the current monetary policy mechanisms." He pointed out that "true financial reform requires building a genuine, diversified revenue system, reducing wasteful spending within the state apparatus, and making serious efforts to recover smuggled funds and assets."
Al-Mashhadani stressed "the necessity of immediate intervention by the Central Bank and the injection of sufficient quantities of foreign currency to cover the market's basic needs and curb speculators who are exploiting the absence of radical solutions to raise prices," while warning that "the continuation of the current situation without radical solutions will directly exacerbate the crisis and increase the cost of imports, which threatens a decline in living standards and widens the poverty line among citizens." link
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Tishwash: Senior staff at the Central Bank of Iraq take the oath of office
In the presence and under the auspices of the Governor of the Central Bank of Iraq, Mr. Nizar Nasser Hussein, the senior staff of the bank took the oath of office, affirming their commitment to the provisions of the constitution and applicable laws, and pledging to perform their duties responsibly and with integrity, to preserve public funds and to prioritize the public interest in the performance of their duties.
The swearing-in comes as a confirmation of the Central Bank of Iraq’s approach to consolidating the values of integrity and transparency, and enhancing institutional responsibility and professional discipline, which contributes to improving administrative performance and achieving the institution’s goals in accordance with the law.
Baghdad – Media Office link
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Tishwash: The President of the Republic affirms the importance of harnessing the digital economy and e-governance to support administrative reform.
President Nizar Amidi stressed on Tuesday the importance of harnessing the digital economy and e-governance to support administrative reform and improve the performance of state institutions.
The media office of the Presidency of the Republic said in a statement that "President Nizar Amidi received at the Peace Palace in Baghdad the Minister of Digital Economy and Governance, Muhammad Sahib Al-Daraji."
The statement added that "at the beginning of the meeting, the President congratulated the Minister on assuming his new position, wishing him success and good fortune in performing his duties."
According to the statement, the President stressed "the need to support the new ministry's efforts to consolidate the principles of governance and transparency, facilitate administrative procedures, and expand the adoption of electronic systems in state institutions, in order to contribute to raising the efficiency of government performance and keeping pace with rapid technological developments."
Amidi pointed to "the importance of utilizing Iraqi expertise in the fields of scientific research and the digital economy and harnessing it to achieve the country's strategic goals, and to support administrative and institutional reform paths, in a way that serves the national development process and keeps pace with the requirements of the current stage."
He added that "the minister, in turn, reviewed the most prominent trends and future plans related to developing the digital economy and enhancing e-governance, stressing the importance of coordination and cooperation between state institutions to achieve the desired goals in this field." ink
Tishwash: The Central Bank announces that Iraq's reserves have recovered to $80 billion.
The Central Bank of Iraq confirmed on Tuesday that Iraq's dollar reserves have recovered to about $80 billion during September and October, while sending a message of reassurance to citizens regarding the availability of cash dollars, indicating that new shipments will continue to arrive in the country in the coming days.
Mahmoud Dagher, advisor to the governor of the Central Bank of Iraq and spokesman for the bank, said that “total reserves of the dollar currency, whether in the Central Bank’s account or in the government’s account with the Federal Reserve, improved during the months of September and October of this year 2026 after they had fallen to $73 billion, but now the reserves have returned to close to $80 billion.”
He added: "The gold reserve position has not changed and amounts to (170) tons."
He explained that "the improvement in dollar reserves during September and October was due to the amounts of oil exports, which reached close to (6) billion," indicating that "this is an acceptable level in light of the current crisis."
He added that "Iraq's problem is its heavy reliance on oil as a source of public revenue, and in financing public spending, especially salaries, to a large extent. Consequently, there is practically no figure for reserves, but rather what is called reserve sufficiency."
He continued, saying: “If our oil exports were cut off, as happened in April, May and June of last year, the reserves were sufficient for a year, and then dropped to about nine months, and now they are starting to return to their previous level,” noting, “Reserves are not measured by absolute value, but by their ability to support our foreign trade, because we depend heavily on foreign trade.”
He noted that "the process of relying on reserves to cover our needs is difficult and illogical," stressing "the need for the Ministry of Finance to make an effort to find sources that reduce reliance on reserves."
He pointed out that "Prime Minister Ali Faleh al-Zaidi is personally monitoring the arrival of dollar shipments, with each shipment carrying approximately half a billion."
He added: "Two planes have arrived loaded with US dollars, and other shipments will follow in the coming days, according to statements by the Prime Minister."
An advisor to the governor of the Central Bank of Iraq sent a message of reassurance to citizens, confirming that "cash dollars are available at the Central Bank, and this is the reason why travelers can obtain six quotas annually instead of the two quotas that were set four months ago."
Dagher added that "Prime Minister Ali Faleh al-Zaidi stated that there is an agreement to continue sending shipments in the coming days, but their continued arrival remains dependent on security conditions."
He explained that “the outbreak of any confrontation, war or conflict may raise challenges related to securing the arrival of cash shipments, especially since a single shipment carries about half a billion dollars, which requires providing the necessary protection to transport and deliver it safely to its destination,” expressing his hope “that the country will not witness such circumstances, and that the situation will continue normally in a way that ensures that citizens are not burdened with additional burdens.”
Regarding the deposit of Iraqi reserves with the US Federal Reserve, Dagher stressed that "this option is based on logical, scientific and technical considerations, and not on political desire."
He pointed out that "there are legal cases filed abroad concerning Iraqi government banks that have not yet been resolved," indicating that "resolving these cases may provide Iraq with other options regarding where to deposit its reserves."
He continued, saying: "Iraq's decision to place the majority of its reserves with the US Federal Reserve comes within the framework of the protection it provides for these funds."
He concluded by saying: “Iraq has reserves distributed in a number of financial centers around the world, including Europe, Basel, the UAE and China, but the main part of them is with the US Federal Reserve, because of the protection it provides for Iraqi reserves.” link
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Tishwash: A heated exchange erupted in parliament over the mobilization law; a parliamentary source reveals the details.
A parliamentary source revealed on Monday that a verbal altercation occurred between MP Ahmed Shaheed and Speaker of Parliament Haibat al-Halbousi during Sunday's parliamentary session regarding the delay in sending the Popular Mobilization Forces (PMF) law.
The source told the Information Agency that "the dispute arose when MP Ahmed Shaheed attempted to speak about the delay in sending the PMF draft law, but he was not given the opportunity to intervene, which led to a verbal altercation with the Speaker."
The source added that "the altercation occurred amidst the general atmosphere of the session and ended with its adjournment, without any further details being available regarding what transpired between the two parties or when the parliamentary sessions will resume."
MP Rafiq al-Salihi called on the government to expedite the sending of the PMF draft law to Parliament, stressing that enacting this law is a national and moral obligation that cannot be postponed, in appreciation of the immense sacrifices made by the heroes of the PMF in defending Iraq's unity and sovereignty. link