The framework allows Al-Zidi to complete his cabinet, and the latter is proposing a quarter-trillion-dollar project.

A source familiar with the behind-the-scenes details of the recent meeting of the Coordination Framework forces revealed on Wednesday that Prime Minister Ali al-Zidi announced his intention to establish a “sovereign development fund” with a capital of approximately a quarter of a trillion dollars, with Gulf participation. The source also indicated that the assembled forces authorized al-Zidi to freely choose the blocs’ candidates to fill the vacant ministerial portfolios in his government cabinet.

The source told Shafaq News Agency that “the forces of the Coordination Framework, during their last meeting, gave Al-Zidi the green light to complete his government cabinet through dialogue with the parties entitled to occupy ministerial positions.”

He added that “the political blocs will nominate a number of names, and Al-Zaydi will personally choose whomever he deems suitable for the position, especially the Minister of the Interior. The ministries that fall within the share of the parties that have armed factions were also discussed, and Al-Zaydi will also conduct dialogue with them to reach a specific mechanism regarding the nomination of the candidate.”

The source indicated that “this matter will be resolved after Al-Zidi’s visit to Washington, and therefore the completion of the cabinet will be after the end of the legislative recess of the House of Representatives.”

He pointed out that the issue of the mechanism for integrating armed factions into the Popular Mobilization Forces, and the results of the work of the committees overseeing the restriction of weapons to the hands of “both were addressed during the meeting.”

In another part of the meeting, Al-Zaydi revealed his intention to “establish a sovereign development fund that will provide great job opportunities for young people, as it will be allocated to developing infrastructure and implementing important projects, which necessitates employing unemployed youth.”

According to the proposal, “the fund will be initially financed by the Central Bank of Iraq with ten billion dollars, and some Gulf countries will be approached to contribute to this fund through their companies in implementing some projects or entering into investment partnerships in implementing some projects.”

According to the source, “some Gulf countries will raise the ceiling of funding for the fund to about $250 billion.”

Al-Zaydi also reviewed everything related to the proposal in order to discuss it in detail and develop mechanisms for its implementation, as it will contribute to solving a large part of the problem of appointments, in addition to improving the state of infrastructure throughout the country, according to the source.

The Coordination Framework forces held an evening meeting last Monday, the 2nd of this month, during which they authorized the Prime Minister and Commander-in-Chief of the Armed Forces, Ali al-Zubaidi, to take the decisions and measures “that would preserve the country’s higher interests,” while announcing their support for the project to restrict weapons to the state and to separate the Popular Mobilization Forces from political, partisan, and social frameworks.

The framework stated in a statement received by Shafaq News, following its 279th regular meeting held at the office of former Prime Minister Haider al-Abadi, in the presence of Prime Minister Ali al-Zaidi, that the meeting discussed “a number of priority national and security files.”

Shafaq.com

Gold prices fell to their lowest level in 11 weeks due to the rise of the dollar and oil.

Global gold prices fell by more than 1% during trading on Wednesday, hitting their lowest level in 11 weeks, affected by the rise in the US dollar and oil prices, amid renewed military tensions between the United States and Iran, which boosted concerns about inflation and continued high interest rates.

Spot gold fell 1.8% to $4,187.59 an ounce, its lowest level since March 23, while U.S. gold futures for August delivery declined 1.7% to $4,213.40 an ounce.

This decline coincided with a rise in the US dollar, which made dollar-denominated gold more expensive for holders of other currencies, as well as an increase in oil prices by about 1% as a result of escalating hostilities between Washington and Tehran.

Tensions in the Middle East have also increased inflationary concerns, which has reinforced market expectations that the US Federal Reserve will keep interest rates high for longer, with traders anticipating a probability exceeding 70% for a rate hike by next December.

Markets are awaiting the release of US inflation data, primarily the Consumer Price Index for May, in addition to the Producer Price Index, to determine the direction of US monetary policy in the coming period.

In other precious metals, silver prices fell 1.5% to $64.43 an ounce, platinum 2.8% to $1,678.10, while palladium dropped 0.8% to $1,212.31 an ounce.

Shafaq.com

State control over weapons: Procedures begin to integrate the Imam Ali Brigades

The Joint Operations Command announced on Wednesday that the committee responsible for disengagement and integration into the security forces has received the files and data related to the fighters, weapons, equipment and vehicles of the Imam Ali Brigades, in preparation for completing the procedures for their integration and reorganization.

The command stated in a statement, received by Shafaq News Agency, that the committee formed for disengagement and integration continues its work in implementation of the government program approved by the House of Representatives.

She added that the head of the committee, Lieutenant General Qais Al-Muhammadawi, oversaw the receipt of files and data related to the personnel, weapons, equipment and vehicles belonging to the Imam Ali Brigades, in the presence of members of the committee and leaders of the brigades.

She indicated that these measures are a prelude to completing the stages of integration and reorganization, and abolishing the other names and titles specific to these formations.

The Joint Operations Command confirmed that the move falls within the government’s efforts to enhance stability, consolidate the rule of law, and restrict weapons to the state within the official security system, which contributes to strengthening the country’s security.

Iraqi Prime Minister Ali al-Zaidi confirmed on Tuesday that his government is committed to restricting weapons to the state.

The coordination framework authorized the Prime Minister to take whatever measures are necessary to preserve the higher interests, while supporting the project to restrict weapons to the state and to separate the Popular Mobilization Forces from political, partisan and social frameworks.

This path was reinforced by the Sadr movement’s announcement of the disassociation of the “Peace Brigades” from it and their integration into the state, along with calls for factions to join under the authority of the government, away from party affiliations.

Later, Asaib Ahl al-Haq and Kataib al-Imam Ali initiated organizational procedures that included forming committees to inventory personnel, weapons, and vehicles, in preparation for reorganization, linking with the Commander-in-Chief of the Armed Forces, and integrating affiliates into state institutions.

Shafaq.com

The Iraqi government announces the establishment of a $150 billion development fund and sets a date for the end of the weapons collection campaign.

Iraqi government spokesman Haider al-Aboudi announced on Wednesday that the cabinet has decided to establish a development fund project with international guarantees and contributions amounting to $150 billion to achieve economic stability through investment. He also revealed that the timeframe for implementing the plan to restrict weapons to the state ends by next September, coinciding with the withdrawal schedule of international coalition forces from the country.

Al-Aboudi said during a press conference attended by Shafaq News Agency in Baghdad that the government based its management of its files on a national vision supported by the mandate and confidence of the House of Representatives, stressing its determination to commit to restricting weapons completely to the hands of the state according to the timetables specified in the ministerial program, which ends next September, coinciding with the end of the tasks of the international coalition.

The government spokesman added that the Cabinet, under the direction of the Prime Minister, approved the formulation of a “program budget” in coordination and joint cooperation with the World Bank and the Parliamentary Finance Committee to advance economic reform in the country.

In response to a question from the agency’s correspondent, Al-Aboudi explained that the Development Fund represents an investment vehicle completely independent of the state’s general budget, and is based on international contributions from Iraq’s friends with guarantees ranging from $100 billion to $150 billion, with the aim of promoting sustainable stability.

Al-Aboudi indicated that the Prime Minister’s upcoming visit to the United States will resolve many issues, mainly related to economic aspects, stressing that Iraq adopts balanced and parallel relations with all countries.

Regarding the relationship with the Kurdistan Region, Al-Aboudi stressed that the Prime Minister directed the oil companies operating in the region to work on increasing oil production, with the aim of reaching financial outcomes and radical solutions that are directly related to securing the salaries of the region’s employees and getting out of the current crises.

Shafaq.com

Iraq is moving towards balancing programs with US support and in coordination with the World Bank.

Iraqi Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d’Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.

The Ministry of Finance said in a statement, reported by Shafaq News Agency, that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.

The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.

For his part, the US Chargé d’Affaires affirmed his country’s support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.

This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a “program budget” in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform.

Shafaq.com

Erbil announces the formation of a permanent committee with Baghdad to resolve disputes and shows flexibility to resume oil exports.

On Wednesday, the spokesman for the Kurdistan Regional Government, Peshwa Hawrami, announced that the regional cabinet had proposed to the federal government the formation of a permanent joint committee tasked with resolving outstanding disputes and issues between the two sides, stressing that Baghdad had welcomed this proposal.

Hormani said at a press conference held after a cabinet meeting in Erbil that the practical steps to form this committee will begin soon.

Regarding the oil file, the spokesman confirmed that foreign companies operating in the region held a meeting with the federal government, and the regional government participated in organizing this meeting. Kurdistan’s goal is to resolve disputes and problems.

He pointed out that if the Iraqi government provides guarantees that oil fields and facilities will not be targeted, and also secures the financial dues of companies, then the process of resuming the region’s oil exports will start at full capacity, stressing the support of the regional government for this matter, and it is ready to cooperate with Baghdad in order to get out of the crisis that Iraq is experiencing as a result of the security tensions in the region that have caused a sharp decline in oil exports.

Regarding the implementation of the ASYCUDA system for automating and updating customs data and ports, Horamani explained that the regional government is not against the system, but it should have been informed of it in advance before its implementation, given the extensive preparations required for its implementation. He revealed that a delegation from the Kurdistan Regional Government will be sent as soon as the Iraqi government delegation is ready to discuss the issue of the system.

Shafaq.com

A US report offers advice to the new Iraqi patriarch on how to ensure the protection of Christians.

The American Foundation for Defense of Democracies presented a warning picture of the situation of Christians in Iraq, considering that the new Patriarch Mar Peter Paul III Nona now bears the burden of preventing the disappearance of the Chaldean Catholic Church, and that Washington’s efforts to strengthen the sovereignty of the Iraqi government will help protect Christians in Iraq.

The American Institute said in a report, translated by Shafaq News Agency, that the inauguration ceremony of Patriarch Mar Peter Paul III Nona bore all the hallmarks of a flourishing church, as the Patriarch was surrounded by clergymen wearing traditional religious attire, signaling the beginning of a new era for one of the oldest Christian communities in the world.

However, the American report indicated that the community inherited by the new patriarch had almost disappeared since the American invasion of Iraq in 2003, as their number before the invasion was about 1.5 million people, but now there are less than 150,000 of them left.

However, the report noted that the restored churches represent renewed hope, as Masses continue to fill the pews in Erbil and Qaraqosh. Nevertheless, the report acknowledged that Christian life has not yet fully recovered from the war, adding that Patriarch Nona’s appeals for Christian unity stem not only from spiritual concern but also from an acknowledgment that if the Christian community does not stand united, it will not survive.

According to the report, solidarity among Christians remains the last hope for a once vibrant community that has been almost wiped out by decades of violence facilitated by the continued weakness of the state.

In this context, the report recalled the US invasion, the power vacuum, and the rise of al-Qaeda, which repeatedly targeted Christians with deadly attacks, including the 2010 attack on Our Lady of Salvation Church, and the kidnappings and extortion that forced Baghdad’s Christians from the area known as the “Iraqi Vatican” in Dora to flee. The report also addressed the rise of the ISIS terrorist organization, which occupied Mosul, directed threats at Christians, destroyed churches, including the oldest monastery in Iraq, St. Elijah, and expelled approximately 120,000 Christians from the Nineveh Plain.

Despite the defeat of the organization, the report considered that the danger did not end with ISIS, as there is currently a drain under the rule of militias that makes the lives of Christians unsustainable.

The report highlighted the sanctions imposed by the United States on Chaldean leader Ryan al-Kaldani, accusing him of preventing Christians from returning to their homes and seizing land through forgery and intimidation.

According to the report, after the defeat of ISIS, the Nineveh Plain should attract citizens displaced by terrorism and political instability, but instead the continued presence of militias has made recovery impossible, frustrating efforts to resettle and rebuild sustainably.

The report quoted Sarah, a Christian who runs a volunteer organization in the area, as saying, “Many here are losing hope because they realize that starting over will be a tough struggle. There are no services and no jobs. We can help each other, but it’s hard to imagine a future.”

The report stated that in order to ensure a certain level of representation for Christians in the Iraqi House of Representatives, five of these seats are allocated to Christians. However, given that the quota system in Iraq allows anyone to vote on who will occupy those seats, as long as the candidates are Christians, the Shiite blocs helped the Chaldean-led Babylon Movement to win four of the five seats in 2021, recalling that former Patriarch Louis Sako had warned that the Chaldean “does not represent Christians.”

The report continued that given that Iraq has a constitution that gives Islam a privilege, including apostasy laws that prevent Muslims from leaving Islam for any other religion, and chronic unemployment among Christians, the result is not surprising, as 57% of Nineveh’s Christians have considered emigrating, while 36% expect to leave within five years.

After questioning what the United States could do, the report praised the continued treatment of Iraqi Christianity as a heritage issue through funding the restoration of beautiful buildings and acknowledging the atrocities of the past. However, it argued that all of this ignores the current dangers facing Christians in Iraq, explaining that the threats facing Christians stem from the existence of a weak Iraqi state that has given control of its basic functions to factions linked to the Popular Mobilization Forces, which, with the help of Iran, have turned post-ISIS Christian areas into militia-run areas.

Therefore, the report concluded that the most useful thing Washington could do was to push Baghdad to reclaim those responsibilities.

The report also called on Washington to reinstate Iraq on its list of countries of greatest concern regarding international religious freedom, noting that Iraq is currently only on the Special Watch List, which represents a lower level of concern. It went on to say that restoring the harsher designation that was previously in place would send a message to the Iraqi government that ignoring the suffering of Christians carries real diplomatic costs.

In addition, the report also urged Washington to stand firmly behind its insistence that the new Iraqi Prime Minister, Ali al-Zaidi, not appoint any ministers belonging to political parties affiliated with militias designated by the United States as “terrorist” organizations. The report added that al-Zaidi has thus far respected this demand. However, the report went on to say that making Iraq safe in the long term for Christians and other minorities depends on breaking the grip of the militias and their patrons in Tehran on the Iraqi state.

The report went on to say that Washington could also pressure the Iraqi parliament to reform the minority quota system so that parliamentary seats reflect the voters they are supposed to represent, rather than the preferences of larger, external political blocs.

The American report concluded by recalling that Pope Francis, while standing amid the ruins of Qaraqosh in 2021, urged Christians not to “forget who they are or where they came from,” while Patriarch Sako believed that without a change in the Iraqi government, the country’s Christians could soon disappear completely.

The report concluded that Sako’s successor, Patriarch Nona, now bears the burden of ensuring that this does not happen, adding that Washington, as part of its broader strategy to counter Tehran, is already seeking an Iraqi government willing to curb Iran’s efforts to support militias, adding that the same steps are necessary to protect Iraqi Christians.

The report warned that the churches of the Nineveh Plains could turn from vibrant centers of Iraqi Christianity into ruins, adding that this depends on whether Iraq, with American help, can protect its Christians.

Shafaq.com

An economist says Iraq’s reserves are capable of supporting the dinar despite the risks.

Economic expert Safwan Qusay warned against devaluing the Iraqi dinar against the dollar, coinciding with the ongoing conflict in the region.
Qusay told Al-Maalouma, “The Central Bank possesses dollar reserves exceeding $90 billion, along with more than 170 tons of gold, enabling it to maintain the current exchange rate.”

He added, “If the Strait of Hormuz remains closed due to the regional war and its continuous escalation, without accountability for those responsible for this closure, which has caused significant damage to the Iraqi economy, the dinar will undoubtedly depreciate against the dollar due to the depletion of reserves.”

He explained, “No one desires the continuation of the current situation, which would force the government to devalue the dinar against the dollar, as this would increase inflation rates. This matter is directly linked to the depth and duration of the conflict.”

Almaalomah.me

“An explanation that needs further explanation”… An economic expert: The Central Bank of Iraq’s statement on the currency did not answer the questions.

On Monday, economist Manar Al-Obaidi stated that the latest clarification issued by the Central Bank of Iraq lacked answers to many questions regarding the effects of its measures on the monetary and economic reality, demanding that it publish detailed data on the treasury transfer portfolio and its impact on the monetary base.

Al-Obaidi, commenting on the Central Bank’s statement issued on June 7, 2026, said that he agrees with the technical distinction between “discounting treasury transfers” and “printing currency,” but the discussion should focus on the monetary impact of these tools, questioning whether discounting transfers at the Central Bank practically leads to the creation of a new monetary base and the reflection of this on the money supply.

He added that the recovery of treasury remittances at maturity is supposed to be done from real revenues, questioning whether the remittances due are being repaid from actual cash flows or are being rolled over through the issuance of new remittances, which could turn temporary financing into a permanent cash obligation.

Al-Ubaidi called on the Central Bank to publish figures relating to the size of the treasury remittance portfolio and its development during the past months, and its impact on the monetary base, as well as to clarify the reasons for the rise in currency circulating outside banks and its coincidence with the stagnation of deposits and the rise in annual inflation rates.

He also called for clarifying the safeguards that prevent exceptional measures from becoming a permanent policy for financing the deficit, and announcing clear time and quantity limits for this type of financing.

He pointed out that a number of economic indicators, including accelerating inflation and declining monetary indicators, call for more transparency and disclosure, stressing that publishing detailed data is the best way to resolve the ongoing debate about monetary policy and ensure confidence in financial stability.

The Central Bank of Iraq issued a clarification yesterday, Sunday, regarding what is being circulated about the issue of printing currency and financing public expenditures, following statements by Foreign Minister Fuad Hussein indicating that 25 trillion dinars would be printed to confront the financial crisis and provide salaries.

He explained in a statement received by Shafaq News Agency that “there is a fundamental and important difference between ‘discounting treasury bills’ and ‘printing currency’ on both the technical and economic levels; discounting bills provides temporary financial liquidity against an existing government debt instrument, and is repaid when the bill matures. It is an internationally recognized financial mechanism, practiced by major central banks with strict adherence to its maturity dates.”

He continued: “As for (printing currency), it is the issuance of new money without compensation that is injected directly into the economy, which leads to direct inflation and erosion of the currency’s value. It is not recovered and represents a permanent monetary burden, and this is something that is completely prohibited under the Central Bank of Iraq Law No. (56) of 2004. Therefore, the simplified description of the ongoing operations as ‘printing currency’ does not reflect its true technical and financial nature.”

The Central Bank stressed that its primary role is to manage monetary policy, maintain monetary stability, price stability, and the integrity of the financial system, and not to be a permanent channel for financing public expenditures.

Shafaq.com

Inflation in Iraq jumps to 4.3% in April

Data from Iraq’s Central Statistical Organization showed on Monday that the general consumer price index reached 112.5 points during April 2026.

The general consumer price index in Iraq reached approximately 112.5 points during April 2026, compared to 110.6 points in March 2026, recording an increase of 1.7%, which represents the monthly inflation rate, according to the agency’s data.

The overall consumer price index also rose compared to April 2025, when it reached 107.9 points, with the annual inflation rate recording an increase of 4.3%.

The data indicates continued inflationary pressures in the Iraqi economy, with price levels increasing on both a monthly and annual basis during April 2026.

Shafaq.com