______________________________________________________
TNT
Tishwash:
President Al-Zaidi discusses with the International Trade Centre support for investment and the development of tourism, agriculture, and the digital economy.
Prime Minister Ali Faleh al-Zaidi discussed with the Executive Director of the International Trade Centre, Pamela Hamilton, prospects for joint cooperation and ways to benefit from the Centre’s expertise in supporting economic and investment development in Iraq.
During his meeting with Hamilton and her accompanying delegation on Tuesday, Al-Zaidi emphasized that Iraq possesses numerous investment opportunities, noting that the government’s policy is based on openness to foreign investments and providing facilities and privileges for investors, as well as paying attention to developing the tourism sector.
For her part, Hamilton praised the government’s reform and investment policies, stressing that stability is a key factor in investment growth, and expressing the center’s readiness to support Iraq in preparing a national investment strategy, developing a tourism sector strategy, as well as supporting the development of the agricultural sector and the digital economy. (LINK)
Al-Mandalawi: Al-Zidi is keen to enhance cooperation with international companies to develop the oil and energy sector.
Deputy Prime Minister for Energy Affairs, Mohsen Al-Mandalawi, confirmed on Tuesday that Prime Minister Ali Al-Zaidi is keen to enhance cooperation with international companies in the oil and energy sector.
The media office of the Deputy Prime Minister for Energy Affairs stated in a statement that “the Deputy Prime Minister for Energy Affairs, Mohsen Al-Mandalawi, received in his guest house in Baghdad, on Tuesday, the regional director of Schlumberger Oil Services Company, Jesus Lamas, and the company’s president in Iraq, Wassim Al-Azm, to discuss prospects for cooperation and the development of oil and gas projects and support for the energy system in the country.”
He added that “the meeting discussed the company’s work in the energy sectors, well drilling, oil field development, and increasing production capacity, in addition to the need to benefit from its modern technical and technological expertise and employ it in the field of oil training and qualification, and to accelerate the implementation of strategic projects.”
According to the statement, Al-Mandalawi affirmed “Prime Minister Ali Falih Al-Zaidi’s interest in strengthening cooperation frameworks with reputable international companies concerned with the oil and energy sector, in a way that contributes to the development of infrastructure and is consistent with the government’s directions in achieving optimal investment of available resources, maximizing national revenues, and meeting the country’s needs.” (LINK)
Advertisement
______________________________________________________
Parliament summons the Central Bank Governor and the Minister of Finance to discuss budget financing.
The Parliamentary Finance Committee announced on Tuesday (October 27, 2026) that it will host the Governor of the Central Bank and the Minister of Finance this week to discuss budget financing, while confirming that customs exemptions for some materials will reduce budget financing, and stressing that it is looking for alternatives.
The head of the parliamentary finance committee, Uday Awad, said in a statement to the official agency, which was followed by the 964 network , that “the committee discussed with the Director General of the Customs Authority, during his hosting, the customs exemption and the expected waste in non-oil revenues and its impact on the exchange rate.”
He pointed out that “customs exemption for some materials will reduce budget funding, so it is necessary to look for a mechanism to finance the budget.”
He added that “the Finance Committee decided to host the Governor of the Central Bank and the Minister of Finance in order to discuss budget financing during this week.” (LINK)
Central Bank of Iraq: Dollar reserves are recovering and new US shipments are arriving soon.
The Central Bank of Iraq confirmed on Tuesday that the country’s reserves of US dollars have recovered to approach $80 billion during September and October 2026, after having declined earlier to about $73 billion, while sending a message of reassurance to citizens regarding the availability of cash liquidity in dollars and the continued arrival of new shipments to Iraq in the coming days.
This announcement comes amid questions about the future of cash dollar flows into Iraq, and the Central Bank’s ability to maintain the stability of foreign reserves and secure market needs, in conjunction with the economic and security challenges facing the country.
Reserves recover, supported by oil revenues.
Mahmoud Dagher, advisor to the governor of the Central Bank of Iraq and spokesman for the bank, told the Iraqi News Agency (INA) that total dollar reserves, whether in the Central Bank’s accounts or the government’s accounts with the US Federal Reserve, have seen a remarkable improvement during September and October, returning to levels approaching $80 billion.
Advertisement
______________________________________________________
He explained that this improvement came as a result of the influx of oil export revenues, which amounted to nearly $6 billion, noting that the current level of reserves is acceptable under the current economic and security conditions.
Dagher confirmed that Iraq’s gold reserves remained stable at 170 tons, with no change in their size.
Shipments of US dollars to Iraq continue
Regarding the supply of cash dollars, Dagher revealed that two planes loaded with the US currency had arrived in Iraq, confirming that additional shipments would arrive in the coming days, according to the understandings that Prime Minister Ali Faleh al-Zaidi had spoken about.
He noted that each shipment carries approximately $500 million, and that the Prime Minister is personally following up on the arrival of cash shipments to ensure the continued availability of the required liquidity.
He stressed that cash dollars are available at the Central Bank, citing the increase in the number of annual quotas allowed for travelers from two to six quotas, after it had been limited to only two quotas four months ago.
These statements carry a message of reassurance regarding the continued arrival of cash dollars, but they do not necessarily mean the end of all challenges related to the flow of the US currency or the stability of its exchange rates in local markets.
Will dollar shipments to Iraq stop?
In clarifying concerns about the potential halt of US shipments, Dagher confirmed that there was an agreement to continue sending cash dollars during the coming period, but he linked the regularity of the arrival of shipments to the stability of security conditions.
He explained that the outbreak of military confrontations or security disturbances may impose logistical and security challenges on money transfer operations, especially since a single shipment contains large sums that require strict protection measures.
According to the statements, the risks mentioned relate to the possibility of transfer operations being affected by security conditions, and not to the announcement of a new American decision to stop sending dollars to Iraq.
Why does Iraq keep its reserves with the US Federal Reserve?
In the file on managing foreign reserves, Dagher explained that depositing the bulk of Iraqi funds with the US Federal Reserve was based on legal, technical and financial considerations, and not on political motives.
Advertisement
______________________________________________________
He pointed out that there are lawsuits outside Iraq related to Iraqi government banks that have not yet been resolved, which makes legal protection of reserves a key factor in determining where they should be deposited.
He explained that Iraq keeps parts of its reserves in multiple financial centers around the world, including Europe, Basel, the UAE and China, but the main part remains with the US Federal Reserve because of the protection it provides for these funds.
He pointed out that settling the existing legal issues could open the door to additional options regarding the future distribution of Iraqi reserves.
Warning against continued dependence on oil
Despite the improved reserves, the central bank warned that the Iraqi economy continues to rely heavily on oil revenues to finance government spending, particularly salaries and operating expenses.
Dagher explained that assessing the strength of reserves depends not only on their size in dollars, but also on their adequacy to cover the country’s foreign trade needs and financial obligations.
He noted that the reserves were sufficient to cover Iraq’s needs for about a year, before their capacity declined to about nine months as a result of lower oil revenues in the preceding months, but they have begun to regain previous levels of sufficiency with improved financial flows.
He stressed the need for the Ministry of Finance to diversify sources of public revenue and reduce reliance on foreign reserves, warning that their continuous use to cover financial needs is not a sustainable economic option.
Economic analysis: What does the return of reserves to $80 billion mean?
The recovery of dollar reserves is a positive indicator of Iraq’s improved ability to meet external obligations, especially after the pressures that financial resources have been subjected to as a result of fluctuating oil exports.
Recent developments can be interpreted through three key indicators:
Improvement in the external financial position: The rise in reserves from $73 billion to about $80 billion, according to the announced figures, reflects the recovery of part of the dollar resources.
Continued cash supply: The arrival of new shipments enhances the central bank’s ability to meet approved cash needs, but it alone does not guarantee the stability of the exchange rate in the parallel market.
Advertisement
______________________________________________________
Continued structural risks: The heavy reliance on oil makes reserves vulnerable to further declines if exports fall or government spending increases.
It is important to distinguish between dollar reserves deposited abroad, cash dollar shipments arriving in Iraq, and international financial transfers, as these channels are subject to different mechanisms and procedures.
The continued arrival of cash shipments does not necessarily mean lifting the restrictions imposed on some Iraqi banks in dealing with the US dollar, given the different regulatory and supervisory procedures related to each case.
Will the dollar crisis in Iraq end?
The central bank’s statements reflect an improvement in the level of reserves and the continuation of cash supply channels, but they are not enough on their own to judge the end of the dollar crisis or to predict a decrease in its exchange rate in local markets.
Market stability requires, in addition to the availability of reserves, regular foreign transfers, meeting legitimate commercial demand, enhancing confidence in the banking sector, and reducing the gap between the official rate and the rate traded in the parallel market.
In conclusion, the data announced by the Central Bank indicates the continued arrival of cash dollars to Iraq and the improvement of its foreign reserves, while the sustainability of this improvement remains dependent on the stability of oil revenues, security conditions, and the success of financial and banking reforms.
The bank’s statements stand out as a message of reassurance to markets and citizens, in contrast to a clear economic warning that reserves, no matter how large, cannot be a permanent substitute for diversifying income sources and enhancing financial stability in the country.
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
