Iraq: The Development Road Project establishes a non-rentier economy capable of meeting contemporary challenges.

Iraqi Minister of Transport Razzaq Muhaibis al-Saadawi said on Tuesday that the vital development road project lays the foundation for a non-rentier economy capable of meeting the challenges of the times.

This came during his hosting of a dialogue session at the Global Rail 2025 exhibition for rail, transport and infrastructure in Abu Dhabi, UAE.

During the session, Al-Saadawi stated that international experience confirms that investing in railway infrastructure yields significant returns, including reduced transportation costs, enhanced trade competitiveness, and increased supply chain efficiency. Hence, the Iraq Development Road Project, a pioneering project that has made the railway sector one of its main pillars.

He added, “The Iraq Development Road project is not just a corridor for goods and passengers, but rather a network of life that brings with it job and investment opportunities.”

The Minister continued by saying that the development path represents a strategic vision for rebuilding the economy on sustainable foundations, through industrial and investment cities along its path. It also serves as a bridge linking the interests of countries and their cultures, transforming distances into cultural opportunities and establishing a non-rentier economy capable of meeting the challenges of the times.

In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdoğan.

The agreement aims to enhance cooperation regarding Iraq’s strategic development project, as the four countries will work to establish the necessary frameworks for its implementation, according to a statement issued by the Prime Minister’s Office.

The strategic development road project is expected to contribute to stimulating economic growth and strengthening regional and international cooperation, achieving economic integration and sustainability between East and West.

The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.

It’s worth noting that the “Development Road” project is a land and railway route extending from Iraq to Turkey and its ports. The road and railway span 1,200 kilometers within Iraq and are primarily intended to transport goods between Europe and the Gulf states.

The project’s investment budget is approximately $17 billion, including $6.5 billion for the expressway and $10.5 billion for the electric train. It will be completed in three phases, the first of which will end in 2028, the second in 2033, and the third in 2050.

The project is expected to provide approximately 100,000 job opportunities in the first phase, and one million job opportunities upon completion.

Shafaq.com

The Trump administration is reviewing its troop deployment in Iraq, and the Secretary of Defense is directing readiness.

Media outlets reported on Tuesday that the Trump administration is preparing to announce the redeployment of US forces in Iraq, according to a US official.

The Qatari Al Jazeera channel quoted the official as saying, “The redeployment of our forces is consistent with the Trump administration’s strategic priorities in Iraq and the region.”

This statement coincides with US Secretary of Defense Pete Hegseth’s announcement during a speech at Quantico Air Base in the presence of US military leaders on Tuesday that “our first mission at the Department of Defense will be to prepare for war and prepare for victory, without compromise or complacency.”

The US Secretary of Defense added, “History teaches us that those who deserve peace are those willing to wage war to defend it. Peace must be achieved through strength. Either we are prepared to win or we are not.”

“The current moment requires more troops, munitions, drones, Patriot systems, submarines, and B-21 bombers,” Hegseth noted.

Washington and Baghdad have reached an agreement on a plan for the withdrawal of US-led international coalition forces from Iraq, with reports indicating that hundreds of troops will leave by September 2025, and the remainder by the end of the following year.

The United States and Iraq aim to establish a new advisory relationship that could keep some US forces in Iraq after the withdrawal.

Last August, the Iraqi Foreign Ministry confirmed the postponement of the announcement of the end of the coalition’s mission, with the Foreign Minister indicating that the circumstances of the negotiations had changed.

There were also warnings from armed factions that attacks could resume if negotiations continue to stall.

This agreement came after more than six months of talks, initiated by the Iraqi Prime Minister in January 2023, amid escalating attacks by Iranian-backed factions on US forces.

Shafaq.com

Al-Sudani’s advisor comments on “drowning Iraq in debt”: “Under control.”

The financial and economic advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, commented on Tuesday on reports that Iraq is “drowning in debt” and warnings of a bleak future for the economy.

“Iraq’s outstanding external debts total less than $20 billion, half of which are due by 2028, and specific annual disbursements are allocated for them in the federal budget,” Saleh told Shafaq News Agency. He stressed that “Iraq has never defaulted on its debts, thanks to a government coordination process and precise technical mechanisms between the Ministry of Finance and the Central Bank, which has given the country a good reputation among external creditors.”

He added, “What is being raised about the domestic public debt, which amounts to more than 92 trillion dinars, is that it is held exclusively by the government banking system, and less than half of it is in the investment portfolio of the Central Bank of Iraq, which is managed with high technical and financial efficiency.”

Saleh stressed that “there is no cause for concern, as long as there are repayment mechanisms under discussion within official economic circles, and monetary and fiscal policies are working to extinguish the domestic debt through objective solutions, including mobilizing real, re-invested wealth within an integrated national fund.”

He explained that “the current model is based on converting debt into investment rights in productive projects, which leads to stimulating real investment activity and guarantees debt repayment,” noting that “Iraq possesses enormous economic wealth that undoubtedly exceeds the size of these debts.”

The Central Bank of Iraq revealed in an official statistic that the size of the country’s debts incurred during the year 2024 amounted to 54 billion and 601 million dollars, a decrease of 2.94% compared to the year 2023, which recorded 56 billion and 207 million dollars, while the internal public debt until the end of last June (2025) amounted to 85 trillion and 586 billion dinars, an increase from its level last year, which amounted to 83 trillion and 80 billion dinars.

Shafaq.com

Al-Sadr rejects a framework proposal and outlines three scenarios for the election phase.

An informed source reported on Tuesday that the leader of the Shiite National Movement, Muqtada al-Sadr, rejected an offer from the Coordination Framework regarding the upcoming elections, noting that he had identified three alternative scenarios to this offer .

The source told Shafaq News Agency, “The Coordination Framework sent a personal envoy to al-Sadr a few days ago, carrying an offer that included the framework’s agreement for al-Sadr to nominate the next prime minister, as happened with Mustafa al-Kadhimi, in exchange for not interfering in the electoral process. However, al-Sadr categorically rejected the offer, sticking to his existing options .”

According to a source close to the Sadrist movement leader, “The latter has become increasingly isolated and self-contained in decision-making at the current stage. He no longer involves anyone but a very small circle of confidantes in his political deliberations, numbering no more than the fingers of one hand. His recent tweets and statements reveal a more cautious and clear reading of the Iraqi political scene .”

The source reported that al-Sadr “has three main scenarios for the coming period, the first of which is to take to the streets, re-erect the sit-in tents, and escalate the popular movement, an option that would threaten the holding of the elections on their scheduled date .”

The second bet, according to the same source, is to conditionally approve the elections, while accepting that they will be held on time, while urging his supporters to boycott them, which will lead to a low turnout .

He points out that “according to this reading, Sadr is banking on indirect international guarantees not to recognize the election results if they are weak, especially with the participation of armed factions that are legally and internationally banned. This could open the door to the formation of an emergency government separate from the government of Mohammed Shia al-Sudani, who currently lacks American and Iranian support. This could also lead to the emergence of an alternative figure like Mustafa al-Kadhimi, or even the latter’s return to lead the transitional phase .”

Al-Sadr’s third option was to postpone the elections, betting on sudden and major developments in the region that might force the government and the Coordination Framework to postpone the elections .

A source close to the leader of the Shiite National Movement, Muqtada al-Sadr, revealed the messages al-Sadr wanted to convey in his latest tweet yesterday, Monday .

Yesterday, al-Sadr responded to the threats that were recently circulated, indicating the existence of a plot to assassinate him, by saying: “Such leaks will not be a cause for strife, for we love the homeland and do not want it to be harmed. No one will respond to your strife, for we are counting on the awareness and obedience of the (National Shiite Movement), as we have always known them .”

He added in a post on his personal account: “Everyone should expect, in the remaining days before the election, an escalation by those who love power, those who love positions, and those who salivate over money and positions .”

Regarding these messages, a source close to al-Sadr told Shafaq News Agency, “Sadr’s latest tweet is not just a passing position, but a strategic message carrying an early warning to the entire political system. Al-Sadr wanted to confirm that despite withdrawing from the elections, he still holds the reins of the popular and political initiative .”

According to the source, who requested anonymity, “Al-Sadr also wanted to convey a message that any attempt to marginalize his movement would lead the country into a dangerous impasse. The core of the message was to reject the replication of consensus-based politics and quotas, and to call for a national majority government or an effective opposition, which represents a serious reform option .”

According to him, “The future of the political and public landscape in Iraq depends on the response of other forces: either they side with reform and avoid chaos, or they face pressure from the Sadrist street, which remains the most important card in the Iraqi equation .”

The roots of this escalation go back to “opposition” activist Ali Fadel, who stated during a social media program that he possessed information about State of Law Coalition MP Yasser Sakhil’s intention to assassinate al-Sadr during his visit to his father’s shrine in Najaf using a drone .

Following this, Basra Governorate witnessed security tensions last night, following the deployment of members of Saraya al-Salam, the armed wing of the Shiite National Movement led by al-Sadr, in light of what Ali Fadel had stated .

In response, MP Yasser Al-Maliki issued a statement denying the accusations, describing the program’s content as “slander and falsehoods aimed at creating strife,” and affirming his intention to prosecute “everyone behind these allegations . ”

Shafaq.com

Gold changes the equation: profits for the central bank, losses for the middle class, and a disaster for Iraqi families.

The global gold market has been witnessing a rapid upward trend since the beginning of 2025, driven by geopolitical tensions and declining confidence in financial markets, making the yellow metal the primary safe haven for capital. Iraq, for its part, is being affected by this trend in two contradictory ways: the first is positive for the Central Bank’s official reserves, and the second is negative for the local market, where the price of a mithqal has jumped to 765,000 dinars, an unprecedented figure that reflects a deepening social and economic crisis, according to modern political approaches.

Economic researcher Nasser Al-Kanani explained that “gold prices are expected to continue rising in the coming period, driven by a number of international factors, most notably geopolitical tensions, declining confidence in global financial markets, and increased demand for gold as a safe haven amid fears of a global economic slowdown.” This reading is consistent with data from the World Gold Council, which confirmed that gold demand in the first half of 2025 reached its highest level in a decade, directly impacting local prices, according to legal readings.

Al-Kanani explained that “these developments will have direct and indirect repercussions for Iraq and the world, as Iraq will benefit from the increase in its gold reserves and the increase in their market value, which will enhance the stability of the currency and support the Central Bank’s cash reserves.” This point is pivotal; the Central Bank announced in early 2025 that Iraq possesses more than 132 tons of gold, ranking 30th globally. The record-high price means billions of dollars in book gains added to the official reserve, which helps support the dinar relatively in the face of international pressure on the dollar. Specialized economists confirm that this increase gives Iraq greater scope for monetary maneuvering.

But the other side of the crisis is emerging locally. Al-Kanani warned that “the local market may face pressure on the prices of locally traded gold, increasing the costs of marriage and popular savings linked to gold.” This observation has become a reality. With the price of a mithqal reaching 765,000 dinars, dowry costs have risen by 30–40% compared to last year. Furthermore, families’ ability to traditionally save through gold has declined, shocking large segments of society who have traditionally relied on it as a safe haven within Iraqi homes. Social researchers believe that these increases portend a social crisis that will place a new burden on young people and increase the rate of reluctance to marry.

Al-Kanani also noted that “continued global growth will lead to a reshaping of capital flows, as investors turn to gold at the expense of other assets, which could put pressure on some financial markets. We also expect prices to remain volatile but tend to rise as long as international conditions remain unstable.” This scenario opens the door to greater shifts in the Iraqi economy, as increased demand for gold could lead to an outflow of liquidity from the local market in favor of purchasing the metal, exacerbating inflationary pressures on basic commodities. Regulatory data indicates that domestic demand for gold increased by 25% in 2025 compared to last year, reflecting the fragility of alternative investment instruments in Iraq.

The data clearly show that the rise in gold has placed Iraq in a dual equation: stronger central reserves and a more stable monetary environment on the one hand, and stifling social and economic pressures on consumers on the other. Al-Kanani’s statements clearly reflected this duality, linking institutional gains to daily societal losses. The future depends on Iraq’s ability to invest gains to bolster its reserves and diversify its economic instruments, in parallel with measures to ease the burden on households, such as alternative savings programs or domestic price control policies. Without this, the rise in gold prices will remain a gain for the government and a huge loss for society, a prospect considered by independent research as the most serious challenge to the balance of economic and social justice.

Burathanews.com

Rafidain Bank: 81 branches adopt the comprehensive banking system.

Rafidain Bank announced on Tuesday that 81 branches have joined the comprehensive banking system. The bank stated in a statement that “81 branches have joined the comprehensive banking system, following the entry of the Hudhayfah bin Al-Yaman branch and the General Secretariat of the Council of Ministers branch into the integrated electronic service.”

He added, “The implementation of a comprehensive banking system is a critical strategic step, as it enables the transition from traditional paper transactions to modern electronic operations, which contributes to increasing operational efficiency, accelerating transaction completion, and enhancing transparency and accuracy in service delivery.”

The bank also stated that “the adoption of this system is in line with the latest global banking practices, constitutes a fundamental pillar for improving the quality of services provided to customers, and paves the way for the development of innovative financial products that reflect the digital transformation in the Iraqi banking sector.”

The statement also noted that “the integration of branches into the comprehensive banking system will have a direct impact on customers by reducing transaction processing time, reducing error rates, and providing more secure and flexible digital channels, providing customers with an advanced banking experience that meets their daily needs.”

Burathanews.com

The Central Bank receives more than 2,700 reports of money laundering.

The Anti-Money Laundering and Counter-Terrorism Financing Office of the Central Bank of Iraq received 2,723 reports and requests for information during the first six months of 2025.

Hussein Ali Al-Maqram, the office’s representative at the Central Bank of Iraq, told Al-Sabah: “During the first six months of this year, the office received 2,723 reports and requests for information about transactions suspected of involving proceeds from predicate crimes or related to money laundering or terrorist financing.”

He added, “These reports and requests for information were from the entities obligated to report, whether financial institutions or designated non-financial businesses and professions, and from various entities concerned with implementing Law No. 39 of 2015, within the framework of joint cooperation and coordination to enhance the effectiveness of the National System for Combating Money Laundering and Financing of Terrorism.”

“Terrorism.”

Al-Maqram continued, “The office has notified other regulatory and competent authorities of a number of cases in which it has detected a breach by some financial institutions or non-financial businesses and professions of the provisions of Anti-Money Laundering and Terrorism Financing Law No. (39) of 2015, in light of the analysis of the reports and information received, or through continuous monitoring and follow-up work.” For his part, security expert Fadel Abu Raghif praised the work of the Anti-Money Laundering and Terrorism Financing Office, pointing to its clear improvement and development in pursuing suspected sources of funding, whether inside or outside the country.

“This resulted in the introduction of modern methods of prosecution, arrest, issuing international and red notices, and preparing several hundred recovery files,” Abu Raghif added in an interview with Al-Sabah. He explained that “the Anti-Money Laundering and Terrorism Financing Law of 2015 was clearly active, as it received thousands of reports, which were met with interaction processes that led to identifying some of those who changed their names and adopted the method of concealment, confusion, and misleading to avoid pursuing these.”

The circle.

He explained, “There are those who have obtained European passports and changed their names, surnames and appearance, but despite this, the office has succeeded in pursuing and greatly reducing these operations, and work is underway to pursue some of the hundreds of those who are hiding, concealing themselves and fortifying themselves in some countries.” The security expert stressed that “there will be no safe haven for them, and they will all be brought to justice through ready and prepared extradition files directed at them.”

Alsabaah.iq

Al-Sudani announces the imminent commencement of implementation of the development road.

Prime Minister Mohammed Shia al-Sudani stressed the need to transition the development road project from technical and administrative aspects to practical implementation, while announcing that the next phase will witness the commencement of actual implementation of the road’s path.

This came during his chairmanship of the regular meeting of the Higher Committee for the Development Road yesterday, Sunday, in the presence of the Ministers of Transport and Construction and Housing, the Chairman of the National Investment Authority, a number of advisors and executive officials, and representatives of Oliver Wyman, the project’s special consultant.

The Prime Minister’s media office stated that “the meeting discussed the latest developments in the project and the measures required to proceed with its phases.”

He added, “The draft law for the authority responsible for the development road, the Faw Port, and the industrial cities was reviewed, and the progress achieved in the technical and administrative aspects, as well as the plans related to the railway and the highway, were also reviewed.”

Regarding the Grand Faw Port, the Director General of Ports presented a detailed report on the percentages of the latest achievements in the roads and the submerged tunnel, and the remaining percentages of completion. He also discussed the operational file and details of the offers submitted by other companies and countries.

Al-Sudani pointed out the project’s importance and the need to shift work from the technical and administrative aspects to practical implementation, so that citizens are fully informed of the efforts being made by all state institutions to complete the initial stages of the development path. He emphasized that the next phase will witness the commencement of the actual implementation of the process.

The meeting discussed the project’s progress with the Kurdistan Region of Iraq, the results of the recent quadripartite meeting of the project’s contributing countries in Baghdad, and the issue of land expropriation. The Prime Minister directed the head of the Higher Coordination Commission between the provinces to communicate with the relevant provinces and resolve the remaining expropriation issues.

For its part, Oliver Wyman presented a summary of its progress on the integrated strategy for the Development Road project, which includes governance, the road, the railway, the economic strategy, investment opportunities, and investor outreach. It proposed beginning implementation of the strategy and agreeing to share the interim governance protocol with partner countries before the upcoming quadrilateral ministerial meeting in Baghdad.

During the meeting, it was decided to adopt the complete strategy submitted for the project.

Alsabaah.iq

Ministry of Oil: Renewable energy will provide Iraq with a quarter of a million barrels of fuel per day.

Abdul-Baqi Khalaf, advisor to the Ministry of Oil for energy affairs, confirmed on Monday that the introduction of renewable energy is a complementary step to fossil fuels, while pointing out that Iraq consumes about a quarter of a million barrels of crude oil per day, and that clean energy will provide this amount for export. Khalaf told the official agency that “the move towards introducing renewable energy in Iraq represents an important step,” noting that “this shift does not mean abandoning fossil fuels, but rather is complementary to them.”

He also explained that “Iraq consumes approximately a quarter of a million barrels of crude oil per day for power generation purposes, and the shift to clean energy and adjusting the national mix will free up this quantity for export, which will positively impact the country’s economic situation.” He noted that “Iraq’s energy transition takes into account the unique characteristics of the national economy and its reliance on oil as a primary source of income.”

He added, “The Ministry of Oil has worked over the past years to increase refining projects to reduce reliance on imports, particularly for light products such as gasoline and diesel,” noting that “Iraq has reached self-sufficiency in these products, were it not for the recent gas shortages resulting from regional conditions, which necessitated compensating for them with quantities of diesel.”

He noted that “current refining capacities are sufficient to meet local needs, while the ministry is considering implementing new projects that focus on producing high-octane gasoline through the addition of larger units or refinery units,” stressing that “these projects will reduce imports and provide high-quality products to citizens.”

Burathanews.com

An election scandal: Halbousi supporters buy Shiite voter cards to destroy them and exclude them from participating.

An informed political source revealed, on Sunday, the involvement of supporters of the leader of the Progress Party, Mohammed al-Halbousi, in systematic operations to purchase voter cards in Shiite-majority areas in Baghdad and a number of other governorates, in exchange for large sums of money, with the aim of destroying them and preventing their owners from casting their votes in the upcoming elections.

The source, who requested anonymity, told Al-Maalouma Agency, “Groups affiliated with al-Halbousi are currently active in several areas, where they are purchasing voter cards at high prices, to be deliberately destroyed later, in an attempt to exclude thousands of citizens from voting.”

He added, “The goal of these practices is to reduce the turnout within the Shiite component, which allows the Sunni component to expand its electoral influence and control the largest possible number of parliamentary seats.”

Almaalomah.me