A mysterious loan and international conditions: The World Bank proposes “financing” Iraq in exchange for three years of economic reform.

Economic expert Ziad Al-Hashemi announced (Thursday, November 12, 2026) that the Iraqi Ministry of Finance, during its discussions with the World Bank aimed at obtaining “urgent financing loans” for the Iraqi economy, “has made progress in the discussions.”

Al-Hashemi said, according to a post, that the Iraqi government, which is seeking funding from the World Bank, faced “international conditions” including “implementing a three-year economic reform program in cooperation with the World Bank.”

He continued, “The discussions moved from discussing financial problems in general to developing a medium-term reform framework extending from 2027 to 2029,” adding, “The World Bank has developed a framework for four main priorities: public financial management, private and government banks, controlling money laundering and combating the financing of terrorism, in addition to the energy sector and anti-corruption efforts.”

He added, “So far, the Iraqi Ministry of Finance has not explicitly announced the value of the loans or provided explanations for the conditions requested by the World Bank in return,” stressing, “Until now, the value of the loan and the areas in which it will be spent have not been announced.”

The economist expressed doubt about the Iraqi government’s ability to implement the economic reform program requested by the World Bank, stressing that “implementing such programs will deprive the political class of its financial privileges, which can only be maintained by keeping the current economic situation without reforms,” ​​as he described it.

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The International Energy Agency expects a surplus in the global oil market.

The International Energy Agency (IEA) predicted on Friday that the global oil market would return to a surplus in the last quarter of this year, as Middle East exports recover at a faster pace than global oil demand growth, despite continued attacks on maritime shipping.

The agency provided more details about the remaining quantities that will come from an unprecedented withdrawal of oil from the emergency reserves of its member states, which was pledged last March.

The agency said that 71 million barrels of oil, including 15 million barrels of diesel, would be available by the end of February to alleviate the shortage of supply in the market.

The agency stated in its monthly oil report that oil supplies will average 105 million barrels per day during the fourth quarter, exceeding expected demand by 1.7 million barrels per day. The agency had previously predicted a supply deficit during the fourth quarter.

The agency added: “The oil market is showing initial signs of returning to balance, as oil supplies to global markets have exceeded demand for the first time since the outbreak of the Iran war.”

The International Energy Agency pointed to increased supply from outside OPEC+, along with increased production from the alliance.

The agency projected that production in the United States, Canada, Brazil, Argentina, and Guyana would increase by 1.6 million barrels per day this year. It added that global supply is expected to rise by 6.6 million barrels per day in 2027, reaching 108.1 million barrels per day, including a 5.3 million barrel per day increase in production from the Gulf countries.

The agency had predicted that supply would exceed demand by about 3.8 million barrels per day in 2027, compared with a surplus of 3.94 million barrels per day in last month’s report.

This report comes after numerous indications of a recovery in exports by Gulf oil producers, which have been disrupted since the start of the war on February 28, using alternative solutions such as the so-called secret passage through the Strait of Hormuz, in which oil tankers disable tracking signals to avoid attacks.

The Organization of the Petroleum Exporting Countries (OPEC) said last Wednesday that the OPEC+ alliance, which includes it and other allies such as Russia, pumped 41.23 million barrels per day of crude oil in October, up 2.04 million barrels per day from September, equivalent to 97 percent of pre-war production.

Other analysts also predicted a return to oversupply despite the lack of a ceasefire and continued attacks on oil tankers in the Gulf. JPMorgan last week forecast a global surplus of 1.4 million barrels per day in October.

Shafaq.com

Iraqi Airways resumes flights to Dubai from Erbil and Sulaimaniyah airports

The Director General of Iraqi Airways, Mustafa Talib, announced on Friday the resumption of direct flights to Dubai from Erbil and Sulaimaniyah airports, starting on the 26th and 27th of this month.

Talib confirmed in a statement received by Shafaq News Agency that the first flight from Erbil International Airport to Dubai will depart on the 26th, while the 27th will be the date for the first flights from Sulaimaniyah International Airport.

He pointed out that the company’s management is working on organizing the flight schedule to meet the requirements of travel and keep pace with the needs of travelers, in addition to launching competitive ticket price offers.

Shafaq.com

“C” alert to all military units under the command of the Commander-in-Chief of the Iraqi Armed Forces

A security source reported on Friday that directives had been issued to place all military units under the command of the Commander-in-Chief of the Armed Forces on “C” alert status.

The source told Shafaq News Agency that the reasons for declaring the state of alert are still unknown, and that the directives did not include specifying a date for ending the state of alert.

Alert “C” is the highest level of military and security alert in Iraq, and requires raising the readiness of units to the highest degree of preparedness, the joining of personnel to their units, and restricting or suspending leaves, in preparation for dealing with any security emergency.

This development comes amid escalating tensions between the Iraqi government and Kataib Hezbollah over the Jurf al-Sakhr area north of Babil province, following the formation of a government committee to investigate information about oil and petroleum product smuggling operations from the area.

Reports spoke of government forces moving towards the perimeter of the area, with the aim of securing the entry of the investigative committee and conducting a field inspection of the sites covered by the investigation, before political interventions and mediations led to the suspension of the movement, amid a dispute over the mechanism for the committee’s entry and the entity supervising its work.

Shafaq.com

An economic expert discusses seven conditions for releasing the Kurdistan Region’s share of the 2027 budget.

Economic expert Nabil Al-Marsoumi revealed on Friday seven conditions set by the federal government in exchange for releasing the Kurdistan Region’s share in the 2027 budget. Among the most prominent conditions is the marketing of at least 400,000 barrels per day of crude oil through the national marketing company “SOMO” to the Turkish port of Ceyhan.

Al-Marsoumi reviewed the conditions in a post, saying that the settlement of financial dues between the federal government and the Kurdistan Regional Government will take place for the years (2024 to 2026), amounting to 12.775 trillion dinars, over a period of 3 years.

Regarding the second condition, “The Kurdistan Regional Government is committed to marketing a quantity of no less than 400,000 barrels per day through the SOMO company to the Turkish port of Ceyhan. In the event that exports stop or become impossible, this oil must be delivered to the Federal Ministry of Oil for local use.”

Regarding the third condition, Al-Marsoumi said that Kurdistan must hand over non-oil revenues to the state’s general treasury, with the data to be audited monthly by the Federal and Kurdistan Region Financial Control Offices.

The expert continued by presenting the fourth condition, which stipulates that the regional government must deliver the quantities of gas that exceed its local needs to the federal government; and if it is not delivered, its value will be deducted from Kurdistan’s share.

Regarding the fifth condition, Al-Marsoumi pointed out that, based on the decision of the Supreme Federal Court dated (15-2-2022), the Kurdistan Regional Government may not sign any investment or operation contracts for oil and gas with foreign and local companies, except through the Federal Ministry of Oil.

The economist concluded his remarks by stating that the sixth and seventh conditions are that the region’s share in the budget should be 12.7% and not 14.14%, and that the region’s share in the budget should be determined according to actual spending and not planned spending after deducting sovereign expenses.

This comes in conjunction with a recent visit by the Prime Minister of the Kurdistan Region, Masrour Barzani, to the capital, Baghdad, where he held meetings with Prime Minister Ali al-Zubaidi and ministers of the federal government to discuss the region’s share of the 2017 budget.

Shafaq.com

Iraq’s foreign currency reserves fall to $78.2 billion as gold holdings and investments decline.

Indicators from the Central Bank of Iraq showed on Thursday that its foreign reserves fell to $78.245 billion at the end of September 2026, compared to $81.538 billion at the end of August, a decrease of $3.293 billion, or 4.04%.

According to data seen by Shafaq News Agency, foreign reserves also recorded a decline compared to the end of 2025, when they amounted to $97.426 billion, meaning they decreased by about $19.181 billion, or approximately 19.7%.

Regarding gold, the data showed that its value decreased to 30.509 trillion dinars at the end of September, compared to 32.655 trillion dinars at the end of August, a decrease of 2.146 trillion dinars.

The Central Bank’s investments also decreased to 70.467 trillion dinars, compared to 72.926 trillion dinars in the previous month, a decrease of 2.459 trillion dinars.

Shafaq.com

To ensure market stability, the Central Bank of Iraq renews its commitment to covering imports of goods and services.

The Central Bank of Iraq confirmed on Thursday that it will continue to meet requests for foreign currency reinforcement in a smooth manner and in a way that meets the needs of importers to finance the import of goods and services at the official exchange rate.

As stated in an official statement, the bank will continue to provide the necessary coverage for external transfers that meet the controls and are covered by the approved reinforcements before 7/10/2026, and will continue to follow up on their implementation in coordination with the banks concerned in order to ensure that they reach the beneficiaries.

The statement called on traders and companies whose remittances have not reached the beneficiaries to contact their banks, with the possibility of submitting complaints through the Central Bank’s complaints platform at the following link: www.complaint.app.cbi.iq .

The Central Bank had announced, on October 20th, that it had completed fulfilling requests for money transfers related to imports, which had been suspended before the official exchange rate was amended on 7/10/2026, and which met the approved conditions and controls.

Shafaq.com

Exclusive: Meeting between al-Zaydi, al-Amiri, al-Fayyad, and “Abu Fadak” to contain the escalation with Kataib Hezbollah

An informed source revealed on Thursday that a meeting that lasted more than three hours took place at the Government Palace in Baghdad, bringing together Prime Minister Ali al-Zubaidi, Badr Organization leader Hadi al-Amiri, Popular Mobilization Forces chief Faleh al-Fayyad, and the head of the Popular Mobilization Forces, Abdul Aziz al-Muhammadawi, known as “Abu Fadak,” to discuss mechanisms for dealing with Kataib Hezbollah, in light of escalating disputes over restricting weapons to the state.

The source told Shafaq News Agency that Al-Zaydi stressed during the meeting “the need to deal with outlaws in accordance with the applicable Iraqi laws,” while Al-Amiri and Al-Fayyad put forward a proposal to give the concerned parties an opportunity to rearrange their situations and return to the table of dialogue and negotiation, with the aim of reaching a settlement on the issue of weapons. Iraqeconomic reports

The source added that the proposal included the continuation of the work of the Quartet Committee tasked with negotiating with the armed factions, in order to reach an agreement that ends the existing disputes and addresses the issue of weapons in a way that serves the public interest and maintains internal stability.

The meeting comes days after a planned meeting of the leaders of the Coordination Framework with the Prime Minister, scheduled for Monday evening, was disrupted due to disagreements over how to deal with Kataib Hezbollah, as well as the lack of progress by the Quartet Committee in its negotiations with armed factions to confine weapons to the state.

An informed source revealed to Shafaq News Agency that some parties within the framework expressed their dissatisfaction with al-Zaydi’s escalation towards the brigades, amid fears that the continuation of the confrontation would lead to other armed factions joining them, which could threaten the collapse of the ongoing negotiations regarding weapons.

The dispute between the government and Kataib Hezbollah has escalated in recent days, against the backdrop of political, security and economic issues, including mutual media disputes and government measures that included activating arrest warrants issued against a number of wanted individuals linked to the group.

The disagreements extended to the mechanism for managing the negotiations itself, after sources told Shafaq News that some members of the Quartet Committee, including Al-Amiri, had reservations about Al-Zaidi holding separate meetings with leaders of factions that refuse to hand over their weapons, fearing that these moves would negatively affect the course of the negotiations.

These developments prompted leaders within the coordination framework, including the leader of the Wisdom Movement, Ammar al-Hakim, and the head of the Supreme Islamic Council, Humam Hamoudi, to make contacts and mediations to contain the tension between the government and the brigades, and to prevent the dispute from moving from political and media debates to a field confrontation.

The issue of restricting weapons to the state is one of the most prominent challenges facing the Al-Zaidi government, in light of the insistence of armed factions, including Kataib Hezbollah, Harakat Al-Nujaba and Kataib Sayyid Al-Shuhada, on maintaining their military capabilities, in contrast to the government’s insistence on extending state authority and ending the manifestations of weapons outside its institutions.

Shafaq.com

A report analyzes the dollar crisis: 14 reasons driving the rise of the parallel market rate and widening the price gap in Iraq.

The head of the “Iraq Future” Foundation for Economic Studies and Consultations, economist Manar Al-Obaidi, identified on Thursday a set of main reasons that drive the increased demand for the dollar in the parallel market, and the pressure to widen the gap between the official and unofficial prices in Iraq. Iraqeconomic reports

Inability to finance trade with Iran

According to a report issued by the organization and published by Al-Obaidi, Iraq is considered one of Iran’s largest trading partners, and the sanctions prevent its trade from being settled through the window or the international banking system, so it is paid in cash or in currencies purchased with dollars.

US restrictions on dollar transfers

The report stated that the US Federal Reserve’s prior scrutiny and the ban on banks dealing in dollars narrow the official supply and push qualified traders towards the parallel market to avoid rejection and delays.

Invoice tampering and importing outside the window

The organization indicated in its report that part of the value of the goods is financed officially and the remainder is paid from the parallel market to reduce customs duties and taxes, in addition to importing from entities not served by the window.

Increased customs tariffs on “high-value” goods

According to the institution, full disclosure and payment of tariffs through the official channel makes its cost uncompetitive compared to the parallel system, which bypasses customs entirely or partially.

Funds that do not enter the formal system

The report noted that the inability to clarify the sources of funds in the face of compliance requirements keeps them in cash outside the system, so they are spent and transferred through the parallel market.

Smuggling dollars to neighboring countries

The “Iraq Future” Foundation considered Iraq to be one of the largest sources of cash dollars in the region, and the demand from countries subject to sanctions and review with neighboring markets comes from its parallel market. Iraqeconomic reports

Small traders outside official platforms

The report stated that among the reasons for the high exchange rate was the failure to include small traders in the official platforms for selling dollars, stressing that they cannot access the transfer platforms due to the scarcity of their resources or the small size of their transactions, so they finance imports from the parallel market.

Excess liquidity in dinars

The report noted that the expansion in government spending and salaries is injecting more dinars than dollars are being offered through the window, and the surplus is looking for a store of value.

Hoarding dollars at the expense of the dinar

The report confirmed that households and businesses hold their dollar reserves as a store of value and a hedge against inflation, thus withdrawing the dollar from circulation.

Slow conversion and disruption of capital circulation

The institution criticized the slowness of the transfers, noting that taking days or weeks in the official channel compared to hours in the parallel channel makes the cost of lost time exceed the price difference for many traders.

Banks’ reluctance to process small transfers

The report criticized banks for favoring high-value transfers to maximize commissions and reduce compliance costs per transaction, while neglecting or delaying smaller amounts.

Limited spread of money transfer banks

The institution continued to list the reasons, including the concentration of banks capable of transferring funds in Baghdad and some centers without covering all governorates, leaving the local money exchange as the only option.

Expectations of reduction and speculation

The report warned that any discussion about adjusting the official price generates preemptive buying, and money changers speculate on the gap between the two prices, thus exaggerating it.

Shafaq.com