By John Lee.
The Central Bank of Iraq (CBI) has reported a decline in issued currency, contributing to lower inflation rates and supporting price stability.
In the second quarter of 2025, issued currency amounted to 98.4 trillion dinars [$75.1 billion], reflecting a 3.8 percent decrease compared to 102.3 trillion dinars in the same period of 2024.
Economists expect the next government to resort to an official devaluation of the Iraqi dinar against the US dollar as a potential solution to address mounting financial burdens, most notably the massive government payroll.
Economic expert Nabil Al-Marsoumi told Al Furat News Agency that devaluing the currency will provide greater financial revenues in dinars, which will help the government cover salary expenses.
Al-Marsoumi believes that “the salary bill accounts for the largest portion of oil revenues, leaving little for upgrading infrastructure or basic services.”
He added that this option may be one of the necessary measures that the new government may take, especially in light of the current oil prices that threaten to close the country’s economic development prospects.
Experts emphasize that sustainable solutions lie in diversifying sources of public revenue and not relying entirely on oil, in order to ensure the stability of the Iraqi economy in the long term.
Alforatnews.iq
Basra Provincial Council Energy Committee Chairman Thaer Al-Salihi revealed on Friday the date for the Turkish power plant’s entry into service.
Al-Salihi told Shafaq News Agency, “The arrival of the Turkish ship to Umm Qasr Port, Dock No. 9, is the first of its kind and will not be the last, as a barge will arrive at the same dock within 30 days or a little more.”
According to Al-Salihi, “The ship, which has a capacity of 125 megawatts, will not be exclusive to Basra Electricity, but will be an important tributary to the national grid across the country, as the contract is between the Ministry of Electricity and the Turkish company.”
According to him, the ship will enter service within seven days, and a joint Iraqi-Turkish team is currently working to complete its connection to the national grid.
Al-Salihi continued, “We do not have a specific figure for the value of the contract concluded with the Turkish company, as it is a ministerial contract, not a local one in Basra.”
Yesterday afternoon, Thursday, the first Turkish ship dedicated to generating electricity with a capacity of up to 125 megawatts arrived at Berth 9 in the southern port of Umm Qasr. This vessel is part of a government contract aimed at boosting the national energy system by more than 250 megawatts per day.
Turkish company Karpowership, which operates floating power plants, previously announced it had signed a contract to supply Iraq with up to 590 megawatts of electricity to stabilize the country’s national grid.
Reuters revealed last Wednesday that two floating power generation units are scheduled to dock at the Khor al-Zubair and Umm Qasr ports in Basra and are expected to begin operating within a month.
Shafaq.com
Minister of Trade Athir Dawood Al-Ghariri announced that Iraq has completed the technical requirements for joining the World Trade Organization after two decades of challenges.
Al-Ghariri stated in a statement that “Iraq has completed all the technical files required to join the World Trade Organization, after a negotiating process that spanned more than twenty years, during which Iraq faced numerous challenges and delays.”
The minister explained that “this achievement was accomplished during the term of the current government, through intensive, qualitative efforts that surpassed what was accomplished in all previous stages combined,” stressing that “Iraq is now in an advanced position paving the way for fulfilling the requirements for full membership.”
Al-Ghariri explained that “the national team concerned with accession, in coordination with the relevant ministries and sectoral bodies, and in partnership with international institutions, completed the review and update of all technical files, which included: the foreign trade system memorandum, the legislative implementation plan, agricultural support tables, the import licensing file, customs valuation, in addition to the sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) files.”
He continued: “The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization, while the Iraqi customs system was updated to the latest version in line with international standards and enhancing Iraq’s readiness for the next stages.”
The minister confirmed that “the files will be officially submitted to the WTO Secretariat through diplomatic channels, in preparation for the next meeting of the working group.”
Al-Ghariri concluded by saying, “What has been achieved is the fruit of the government’s extensive support, continuous coordination with all ministries and national institutions, and the efforts of the Department of Foreign Economic Relations in leading this strategic path, with the goal of strengthening Iraq’s position in the global trading system, serving its national economy, and achieving sustainable development.”
Miliq.news
Iraqi dinar-DollarThe Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Friday that the Central Bank of Iraq enjoys substantial foreign reserves that represent the primary backing for the national currency. These reserves are managed within a diversified foreign currency investment portfolio in accordance with the highest standards of global banking efficiency and professionalism.
Saleh added in an interview with Al Furat News Agency that “the ability of these reserves to meet external demand for foreign currency for the purposes of financing import trade is one of the primary indicators of their efficiency,” noting that “the global standard for financing trade from central bank reserves is three months’ coverage, while Iraq has an exceptional capacity of up to twelve months.”
He pointed out that “this level reflects a high degree of stability in the foreign exchange market, despite the temporary pressures on the current account of the balance of payments due to the relative contraction in oil prices,” noting that oil revenues continue to constitute the main pillar in the formation and accumulation of these strategic reserves.
Saleh explained that “the Central Bank largely controls the foreign exchange market by imposing an official exchange rate of 1,320 dinars per dollar for the dinar. This has contributed to keeping the annual inflation rate below 3%, which falls within what is known as the normal range for the general price level or the natural price break-up in the country.” He emphasized that this represents the highest levels of stability targeted by Iraqi monetary policy.
Alforatnews.iq
Intends Syria It issued new banknotes and removed two zeros from its currency in an attempt to restore confidence in the lira, which had fallen sharply in value, according to Reuters.
The move aims to bolster the Syrian pound after its purchasing power collapsed to unprecedented levels following a 14-year conflict that ended with the ouster of President Bashar al-Assad. Bashar al-Assad Last December.
The Syrian pound has lost more than 99% of its value since the outbreak of the war in 2011. The current exchange rate is around 10,000 pounds to the dollar, compared to 50 pounds before the war.
The sharp decline in the currency’s value has made daily transactions and money transfers increasingly difficult.
Alsumaria.tv
The Trump administration intends to scrutinize the legal visas of the 55 million foreign nationals residing in the United States to determine whether they have committed violations or pose a security threat.
According to the Washington Post, this represents a significant expansion of current efforts to curb allegations of immigration violations, criminal activity, threats to public safety, or support for a terrorist organization.
In an emailed statement, the US State Department said that “ongoing vetting” will allow it to revoke visas when evidence of potential ineligibility is detected.
“We review all available information as part of the vetting process, including law enforcement or immigration records or any other information that comes to light after visas are issued,” the statement read.
The newspaper explained that “the Trump administration oversaw a strict immigration crackdown that initially focused on illegal immigration to the United States, but expanded to include reviews of legal immigration, such as those traveling to the country on tourist, work, or student visas.”
She indicated that the Department of State issued nearly 11 million temporary visas, not including permanent residency or “green cards,” during fiscal year 2024.
The vast majority of these visas, 77%, were issued for business or tourism purposes, while approximately 7% were issued to visiting students or academics and their families.
While officials noted that the process of re-examining those already holding visas, which could take years in some cases, is likely to be time-consuming and logistically complex, the State Department has taken new measures, including reviewing social media accounts for “hostility toward the United States and anti-Semitism.”
In this context, a senior State Department official, who requested anonymity to inform the media, said, “We are collecting more information than ever before.”
While the official acknowledged that examining social media accounts would likely add more time to the review process, he also said, “Time is not my concern, but the safety of Americans is.”
The newspaper noted that this news has raised concerns among some immigration experts, who said that visa holders are already subject to heightened scrutiny when new information emerges, including interactions with US law enforcement agencies, such as arrests or convictions.
David J. Baer, director of immigration policy at the Cato Institute, a liberal think tank based in Washington, D.C., said it appears the administration wants to “proactively review social media posts and revoke visas based on expression, not behavior.”
“I doubt this will apply to everyone, but I suspect these reviews will be conducted in a discriminatory manner, targeting migrants from certain backgrounds, certain visa categories, or specific people who want a pretext to cancel their visas,” Beer added.
The newspaper noted that foreign students have become a focus of attention for the US administration, which announced earlier this week the revocation of more than 6,000 student visas due to overstaying and other legal violations, including approximately 200 to 300 visas for what it described as “terrorism.”
In addition, the administration sought to revoke visas and deport individuals who participated in university protests against the war on Gaza.
For his part, the senior State Department official declined to disclose the number of student visas revoked in connection with university protest activities.
“There are thousands of people with visas in the United States who exercised their freedom of expression, and they are not the ones whose visas we revoked,” he said.
Shafaq.com
The Iraqi Presidency, UNAMI, and the US Embassy condemned the bloody events in Sulaymaniyah on Friday, expressing their regret for the deaths and injuries sustained during the clashes.
The Presidency of the Republic said in a statement received by the agency that it is following with concern the events taking place in the city of Sulaymaniyah, which resulted in “the killing of members of the city’s security forces and the injury of others.”
The presidency stressed “the need for self-restraint and adherence to legal and judicial procedures in accordance with the constitution, avoiding violence, and in a manner that consolidates the principles of justice and preserves the security and stability of citizens.”
For its part, the United Nations Assistance Mission for Iraq (UNAMI) stated in a statement received by Shafaq News Agency that it expresses “concern over the ongoing developments in Sulaymaniyah Governorate and regrets the deaths and injuries resulting from the recent clashes.”
According to the statement, the mission called on all parties to exercise restraint, “refrain from any actions that could endanger the lives of civilians, respect human rights, and ensure fair and just judicial procedures that are consistent with the provisions of the constitution.”
In a statement received by Shafaq News Agency, the US Embassy in Iraq expressed its concern over the ongoing developments in Sulaymaniyah Governorate and its regret for the deaths and injuries resulting from the recent clashes.
The embassy called on all parties to “exercise restraint, refrain from any actions that could endanger the lives of civilians, respect human rights, and ensure fair and just judicial proceedings consistent with the provisions of the constitution.”
Late Thursday night, security forces clashed with members of the security forces protecting the leader of the People’s Front, Lahur Sheikh Jangi, in the city of Sulaymaniyah, following a court order for his arrest.
On Friday morning, media outlets close to the Patriotic Union of Kurdistan (PUK) reported that three people were killed and ten others were injured in armed clashes.
The events culminated in the arrest of the leader of the People’s Front Party, Lahur Sheikh Jangi, and his brothers, Polad and Aso, for whom arrest warrants were issued. This followed a raid on the party’s headquarters, the Lalzar Hotel, located in the Sarchinar neighborhood in central Sulaymaniyah.
It’s worth noting that Sheikh Jangi served as co-chair of the Patriotic Union of Kurdistan (PUK) before being dismissed by Bafel Talabani in July 2021 following sharp disagreements within the party. He subsequently founded the People’s Front party, which participated for the first time in the 2024 Kurdistan parliamentary elections, winning two seats.
Shafaq.com
An Iraqi security source revealed on Tuesday that the last US soldier will leave Ain al-Asad base in Anbar province, western Iraq, in mid-September, after which the international coalition headquarters at the base will be permanently closed.
The source told Shafaq News Agency that the Ain al-Assad base is scheduled to be permanently closed on September 15, explaining that US forces stationed in western Iraq will move to bases inside Syrian territory, while those in the capital, Baghdad, will move to alternative bases in Erbil in the Kurdistan Region.
The source added that a limited number of American personnel and leaders will remain within the joint forces in Baghdad as needed.
On Monday, the first phase of the withdrawal of US forces from the country to Syrian territory began.
An Iraqi security source told Shafaq News Agency that a US convoy, including trucks carrying military vehicles, had begun moving out of Ain al-Assad base.
Ain al-Asad Air Base is the second largest air base in Iraq after Balad Air Base. It is the headquarters of the US Army’s 7th Division and is located 10 kilometers from the Baghdadiyah district in Anbar Governorate.
Earlier, a spokesperson for the US Embassy in Baghdad revealed that a “civilian” partnership between the international coalition and Iraq was close to being signed, coinciding with the planned “military” withdrawal by next September.
The spokesman said in a statement to the agency that the Global Coalition to Defeat ISIS (Operation Inherent Resolve) will transition from its military mission in Iraq to a more traditional bilateral security partnership, stressing the continuation of the coalition’s civilian-led efforts at the global level.
He emphasized that this shift does not mean the end of the international coalition’s work to defeat ISIS, but rather comes as part of a transition plan to enhance stability in Iraq through security partnerships and ongoing civilian cooperation.
A government source told Shafaq News Agency that Iraq has agreed with the international coalition countries, primarily the United States, on a timetable for ending the coalition’s mission. The timetable stipulates ending its presence with the central government in September 2025, leading to a full withdrawal in September 2026, with the number of its forces gradually reduced to less than 500 personnel, whose presence will be limited to Erbil, while the rest will be transferred to Kuwait.
Shafaq.com
Turkish floating power plant operator Karpowership announced on Wednesday that it has signed a deal to supply Iraq with up to 590 megawatts of electricity to stabilize the country’s national grid.
Two floating power generation units are scheduled to dock at the Khor al-Zubair and Umm Qasr ports in Basra. They are expected to begin operating within a month, according to Reuters.
The company said in a statement that the initial contract, signed with the Iraqi Ministry of Electricity and the General Company for Electricity Production, extends for 71 days.
Shafaq.com
