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Tishwash:
Kurdistan Regional Government Prime Minister receives US delegation
Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on Wednesday received a US delegation headed by Deputy Assistant Secretary of State Victoria Taylor, in the presence of US Consul General to the region Steve Bittner and US State Department Special Envoy to Northeast Syria Scott Bolz.
During the meeting, they discussed ways to enhance bilateral relations, and discussed efforts related to forming the new ministerial cabinet of the regional government, in addition to the latest developments in Iraq and the region.
For her part, the US Deputy Assistant Secretary of State stressed the importance of the Kurdistan Region’s position and its role as a partner of the United States of America.
The two sides agreed on the importance of resuming the export of Kurdistan Region oil as soon as possible, in the interest of all parties, especially since its suspension has caused great harm to the Iraqi federal general budget.
Another part of the talks was devoted to discussing the need to secure the financial rights and dues of the Kurdistan Region. In this regard, the Prime Minister stressed that the Region has fulfilled all its obligations within the framework of the general budget, and therefore Baghdad must send the Region’s dues as a federal and constitutional entity.
The meeting also discussed the general situation in Syria, stressing the need to preserve its security and stability, and guarantee the rights of the Kurdish people and all its components. link
Iraq signs a memorandum of understanding with the British Export Credit Guarantee Corporation.. and these are its objectives
Today, Tuesday, in the British capital, London, a memorandum of understanding was signed between the Sovereign Guarantees Initiative Committee and the British Export Credit Guarantee Corporation, on the sidelines of the Prime Minister’s official visit to the United Kingdom.
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The ceremony was held under the patronage of Deputy Prime Minister and Minister of Planning Mohammed Tamim, where the Chairman of the Initiative Committee, Advisor to the Prime Minister Mohammed Sahib Al-Daraji signed on the Iraqi side, while the Director of the Business Group, Adam Harris, signed on behalf of the British Foundation.
The terms of the memorandum include supporting imports of production lines and industrial and agricultural technology for the Iraqi private sector from the United Kingdom.
This memorandum is valid for five years, and comes within the framework of the agreements and memoranda of understanding signed by the Iraqi government with a number of European countries, and aims to raise the efficiency of the Iraqi private sector and achieve integration with the international community.
In another context, the two sides agreed that the British Export Credit Guarantee Corporation would finance a number of vital projects for the Iraqi government, and prepare to increase the financing ceiling for productive government projects.
The signing of the Memorandum of Understanding was preceded by a joint meeting between the Iraqi delegation and the British Foundation, during which mechanisms for joint cooperation between the two sides were discussed, in a way that enhances bilateral relations between the two countries. link
Iraq faces economic collapse without reforms: Former Minister warns
Iraq could face severe economic challenges, including the inability to pay public sector salaries within two years, if critical reforms are not implemented, former Electricity Minister Luay Al-Khatib warned on Tuesday.
Describing Iraq’s governance as a system of “fiefdoms,” he emphasized the need for structural reforms to avoid what he called “inevitable collapse.”
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In a statement on X, Al-Khatib highlighted the nation’s precarious economic situation, noting that “the deficit in federal budgets has reached 40%.”
He warned that if Iraq continues to draw on cash reserves amid fluctuating or falling oil prices, the value of the local currency could collapse. “In this scenario, the state will struggle to pay public sector salaries within two years,” he said.
Al-Khatib criticized the current governance model, stating, “Since the fall of the dictatorship in 2003, Iraq has been run by fiefdoms prioritizing private and sectarian interests.”
“This has transformed the private sector into a façade for political profiteering, deterring real investments and foreign currency inflow,” he added, attributing Iraq’s ongoing challenges to widespread “c--------n” and the absence of social justice and economic sustainability.
Turning to the electricity sector, Al-Khatib dismissed claims of external interference, describing the issue as “entirely domestic and political.” He argued that political interests have obstructed efforts to reform and privatize the sector, leading to inefficiencies and c--------n.
“The cost of government subsidies for electricity and oil exceeds $30 billion annually, with $20 billion allocated to electricity alone,” he revealed, describing this financial drain as unsustainable.
He called for “comprehensive reforms,” including restructuring the sector, revising tariffs, automating billing systems, removing i-----l connections, and eliminating exemptions.
“These steps are critical to making the sector viable for privatization and attracting global-standard investments,” Al-Khatib said.
The former minister estimated that fully rebuilding Iraq would require over $1.5 trillion, a figure that far exceeds the nation’s oil revenues. “Attracting foreign investment and hard currency is the only viable solution,” he explained, urging the creation of a “secure and competitive investment environment free from political interference and armed groups.”
He emphasized the importance of offering incentives to investors that are competitive with those in other regional and global markets.
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Al-Khatib concluded by calling for a decade-long commitment to economic reform in line with Iraq’s Constitution. “This process requires uninterrupted, cumulative efforts beyond the authority of a single ministry,” he said, noting that “It demands full Cabinet involvement, political backing, and a nationwide media campaign to educate the public with clear and transparent messaging.” link
Source: Dinar Recaps
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