ABOUT THE NEWSLETTER:
May 6, 2025 Mnt Goat News Brief
Guten Tag everyone:
I have some news for you today.
GIVE A GIFT TO MNT GOAT
I decided to allow everyone to give a Free-will GIFT to Mnt Goat on PayPal if you so desire. Here is the link below.
Since 2013, I have taken my own time from my gasthaus business to research and document findings about the revaluation and reinstatement of the Iraqi dinar. At this time more than ever I do not need to spend my time doing all this. My time is hard to find, as I have to hold down two formal jobs already due to COVID just to keep the business going. So, I do it out of charity and love with the understanding that all of us do NOT have the time to go do our own research. We are busy with our jobs, our daily lives and raising our children. As I am saying this take time and is like a third job.
I recommend $10-$15 dollars a month or whatever you can afford. Do you realize I write eight (8) Newsletters every month. I have to investigate the news and try to pull out the FACTS, then pull off the articles from Iraqi news channels, translate them, talk to my contact in Iraq and then write and publish the Newsletter. Do you think perhaps a little gift might show some appreciation for all this hard work? Just asking…. Still only a hand full of readers help out each month. Enough said….. The future of the Newsletter depends upon you.
Let’s all try to chip in!
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Luke 6:38
Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.”
STATUS OF THE RV
As May is rolling on, I want to say congratulations to all you graduates this year.
This Status Of The RV today is a long read. It summarizes the articles in the Articles Section. It is all good news. You might want to sit down, relax and get a cup of hot tea. There is lots to go over.
Some of the news is repeated from old news from the Iraqi news media without giving a current perspective. This of course, is not fair for Iraq. No, the RV has not yet happened. There is no East to West movement of the RV. How ridiculously stupid of a statement anyone can make and such foolishness and irresponsibility. When the new rate for the Iraq dinar is reinstated on FOREX it will happen to the entire world all at once no matter what time zone. Get it? There will be no insider trading. When FOREX opens it opens. Forex currency operates everyday already for decades now and so they have considered everything in its fairness operation of the market. There are no such “tiers” for exchanging nor “redemption” centers. Again these are just foolish, childish notions by these intel guru idiots. We We will be conducting a simple currency exchange at the bank. We are not be redeeming anything, get it? You might want to go read my section exchanging your currency in my blog.
There is an important topic that needs to be discussed within our investment community today for the Iraqi dinar and the scope of the current Iraqi economy. If we look at the news coming out of Iraq we see some obvious propaganda. This propaganda is trying desperately to crash the economy and do it through the banking system. The government recently moved around Sovereign Funds not depositors’ money of the citizens. So, the crooked and ill-informed news media had a field day with the information. The Iranian backed culprits know that the Iraqi economy is about to explode with almost “unheard of” levels of prosperity and wealth.
Am I talking about the RV event as the cause of all this current excitement? No, not entirely. I am not at this time referring to the RV event but the Iranian politicians know this too is coming and will seal their fate when it comes to their corruption schemes and the funneling of the dollar to Iran. June is just around the corner and we learned in previous articles that more correspondent foreign banks will kick in to cover the remaining 5% of funds needed for imports to Iraq, thus the parallel market is doomed and the writing is on the wall for Iran using Iraq as their puppet state. Elections are also just around the corner and many of these Iranians will be kicked out of parliament. I believe the U.S. will even step in and not allow Iranians or duel citizenships but only Iraqi sole citizenships to run for office in this next election.
We have previously read many articles on the “New Rafidain” bank and the reforms taking place there. The CBI was working to reform the bank to necessary to global standards and digitization. First why would they do this if not working towards a higher rate when going back to FOREX. If they wanted a 1320 rate, they could have already done it over the last two decades. Get it? But this is not the case as Ali Al-Alaq has told us many times already he wants the dinar to go back to its “glory days”.
Remember that Iraq did not work on these reforms alone. They hired the best financial consultant firms to help them out. They also had the standards from the IMF and World Bank working on their side. The WTO also stepped in to assure that Iraq is ready to perform with massive international trade with other WTO countries.
😊Then they tell us that the Rafidain bank is going to be the “key bank” for a global digital transformation. Today we read this project is about completed. You might want to read the article titled “RAFIDAIN BANK IN A NEW LOOK: AL-SUDANI ANNOUNCES A NEW BANKING ERA IN IRAQ”. Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing firms, covering all banks. He also indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.
😊Then to counter the propaganda news media channels, Rafidain bank comes out with an article reassuring the people that the bank is solvent and the financial position is excellent. They do not want a run on the banks since they just initiated this long-term strategy to get the stashes of cash into the banks. The title of the article is “RAFIDAIN BANK REASSURES: THE BANK’S FINANCIAL POSITION IS EXCELLENT.” Rafidain Bank confirmed on Monday that its financial position is excellent and that it is committed to fully covering expenses. While noting that the amounts withdrawn by the bank were from its sovereign accounts, it emphasized that all depositors’ funds are fully insured. More than 80% of government department accounts are deposited in Rafidain Bank, which is naturally subject to the policies of the Ministry of Finance, which can use these funds to serve the state’s financial policy. The Rafidain bank is a state-owned bank operated by the CBI.
😊Also take a peak at the article titled “THE TRUTH ABOUT THE WITHDRAWAL OF RAFIDAIN AND RASHID FUNDS: SOVEREIGN FUNDS, NOT CITIZENS’” This article confirms that there is no worry for a crash and the citizens funds are safe. “The Iraqi Ministry of Finance stressed on Saturday that the funds withdrawn from the government-run Rafidain and Rashid banks do not represent citizen deposits or the banks’ insurance balances. Rather, they belong to the ministry’s sovereign accounts, were kept as a temporary operating tool, and were transferred back in accordance with financial and administrative instructions to be allocated within the general budget.”
☹If you have been following the news you realize the price of oil is dropping. You might want to take a look at the article titled “IMF SOUNDS ALARM: ECONOMIC PRESSURES MOUNT ON IRAQ, NON-GULF OIL PRODUCERS”. We may still see some swings up and down but the trend will be down for the long haul. There will be changes coming in the energy sector, like have not seen before. They changes are not of solar or wind generation but of new sources discovered. The Iraq budget for 2025 was based on $70+ a barrel and so it dropped to $60. With this drop and coinciding with the Trump administration policies it is not hard to realize that the Biden administration was manipulating the oil market to prop it up. Why? Was it to prop up the petro-dollar and keep the dollar alive? Is this why the Biden energy policy seemed so strange to most? Think about it! Think about the foreign policy of the Obama/Biden era administrations. Did it help the U.S. economy or hurt it? Who really benefited?
If you study them closely, they were all about putting Iraq in a long-term position as a puppet state for Iran, thus the funneling of money to Iran can take place. If oil prices are high, Iraq can still survive and make some reform progress while having money stolen to fund Iran on the side, as they did with the currency auctions. Meanwhile also consumers of oil in the U.S. and other developed countries economies suffered to support Iranian terrorists funding. Do you understand what these evil politicians in the U.S. did?
😊But these days of funneling the dollar for Iran are all but over. It has been all but over for some time now and so articles telling us this still has to take place is yet more propaganda. I am presenting such an article today titled “WASHINGTON LEANS ON IRAQI BANKS TO CHOKE IRAN’S DOLLAR SUPPLY”. The wording in this article is not of the past and is in the present mode. This is unfair journalism. Yes, there is some truth to it but past tense not present. I put my corrections in RED. The article says Iraq is a key hub (was a key hub) allowing Iran access to the international financial system, but the US is (has) turning up the pressure on the country’s banking system. The US is tightening its maximum pressure grip on Iran by focusing (focused) on one of the key hubs that allows Tehran access to the international financial system: Iraq.
In the latest wave of tightening financial measures, Washington targeted public and private Iraqi lenders facilitating Iranian access to international financial markets.
US pressure on the Iraqi banking system is hard to overstate, with 34 of the 44 private banks in Iraq under sanctions, leaving ten lenders with full access to the banking system.
☹We read yet another article not boosting Iraq but lending yet more propaganda to discourage investors. It is titled “POLITICAL INTERFERENCE IS “RAVAGING” IRAQ’S ECONOMY. WHAT DOES THIS MEAN TO EXPERTS?” We can’t deny some truth within this news article but again they do not talk about all the work already performed but rather only the negative side of where Iraq as been and not going forward to where it is today. They state in the article “that Iraq’s private sector suffers from significant weakness and stagnation due to its direct reliance on government funds, whether through salaries or project dues. This has rendered it unable to build an independent economic base.” We should all know by now this statement is true since Iraq has spent the last two decades of reforms away from the socialist, state run Saddam Hussein economy to a more free-enterprise, capitalistic economy and democratic government. But his takes time.
The article then goes on to say “experts believe that this over-reliance has made the private sector significantly vulnerable to government financial fluctuations and has contributed to strengthening the state’s role in economic activity at the expense of individual initiatives and free investment. Experts warn that the continuation of this situation threatens the future of the national economy and makes Iraq more vulnerable to financial and political crises in the absence of a strong private sector capable of achieving sustainable growth.” Although everything this article says is true it may not be as relevant today as it was in the past. Afterall two decades of reforms Iraq has come a long way. Is there still progress to be made? Of course, even the U.S. is still evolving after hundreds of years of its democracy.
What else is in the news?
All the news this period is good. Yes, lots of propaganda news mostly from the Nori al-Maliki run channels. So, lets review the some very good news.
😊If you remember from the past news Iraq was going to build it very own refinery. This one was going to be the first of many. Today we learn this refinery is now completed in article titled “AL-SUDANI WILL HEAD TO KIRKUK TO INAUGURATE THE LARGEST OIL REFINERY.” “An informed source in Kirkuk Governorate revealed on Saturday that Iraqi Prime Minister Mohammed Shia al-Sudani intends to visit the governorate this week to lay the foundation stone for the largest investment oil refinery in Kirkuk and inaugurate several service and development projects.” These refineries will be necessary to get off the Iranian refined products, i.e. petro gas. This is part of the U.S. project to make Iraq independent of Iranian energy and choke its economy and terrorist funding. The German Seimans company too has just signed a huge contract to build the largest electricity plant in Iraq to be run off excess natural gas burn-off gases.
😊We have read about this industrial cities (or economic cities) before. These are going to be state-owned industrial city projects that have partnered with private sector developers. We in the U.S. might think of them as Industrial Parks where many different companies can come in and set up shop. The government supplies a means of safe and reliable transportation of goods to market sources. But how will this all be funded?
So here is an updated on this effort. There is one more very good news today and in article titled “IFC TO HELP IRAQ DEVELOP INDUSTRIAL CITIES”. “Iraq’s Minister of Industry and Minerals, Khaled Battal Al-Najm, met with a delegation from the International Finance Corporation (IFC), a member of the World Bank Group, to discuss potential cooperation in the development of industrial cities and workforce capacity building in Iraq.
I encourage everyone to also go watch the videos in my Prophecy and Political Sections of the newsletter. I just posted a new Prophecy Fulfilled and the scam over the Biden mental decline and how the news media propped him up. Yes, it is all be exposed,, but when will the Justice come? We must have justice too!!! Someone must pay the price for this corruption or it will continue. There are consequences for corruption. We must continue to pray now for God to continue the EXPOSURE but also pray for JUSTIICE.
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What can we as investors do right now?
- Pray and pray that nothing will mess this up….
- Be very patient….
- Do not sell your dinar….
- No more intel guru talk….
- No more NESARA / GESARA crazy talk
- Stop listening to all these idiots as they are only confusing you more and more (especially TNT and “The Big Call” idiots.)
- Don’t over speculate and set unjustified expectations
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
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These prophecies are more important now than ever. They give us the strength, perseverance and hope that a better time is coming and that God’s Hand is at work behind the scenes. If you just take a second even to look around you at this past election cycle how ca you deny that God is at work. It is amazing and there is no other way that these events could have happened the way they turned out. But there is more to come, much more! Now that God has his biblical David re-elected we need to pay attention to what He does next.
God told us it will be an “hypnotic November” and turbulent until next June 2025 and so, isn’t it? Was He lying to us? Remember that these globalist have had it too good for too long and are not just going to lay down and let themselves be destroyed. They are going to fight until the very end. If all else fails the will get more and more desperate to overcome the good trying to rebuild and free our nation.
These prophecies today are powerful and I encourage everyone to listen carefully to them. Is there a connection to getting our long-awaited RV? Of course there is, and if you can’t see it yet then just wait and it will become more and more obvious to you how the crooked run U.S. administrations have corrupted Iraq and held it hostage since the 1991 and 2003 wars with the Bush, Obama and Biden administrations. But this control too is going to end and God is going to finally FREE the Iraqi people again.
NOTE: These prophecies just keep getting better and better, giving us HOPE of a bright future. But the real reason why I listen to them is that we can actually see what God says He will do taking place right in front of our noses. It is a confirmation to me that God is real and is still with us forever just as in biblical times.
From God to the PROPHET: Julie Green
“The Evil Over the Christian Church”
Prophecy can be found at the 20:38 mark. From Aprill 30th
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HOW DO WE KILL THE GIANTS OF DEBT, SOCIALISM AND SECULARISM?
Please, please listen VERY carefully to this prophecy. I cannot emphasize enough to spend the time to watch this one – “The Big E”. I am not saying its going to take 6-7 years to get the RV, but that the RV is part of the process along the way and will happen in the process of the prophecy fulfillment.
Do you remember these prophecies from 2007? This is our time now to fulfill these prophecies. So, let’s take a step back and rewind to review them. Then watch to see if Trump does orchestrate their fulfillment. I also believe this wiping out the debt is related to the new energy sources that are coming. In the meantime, the US will work at bringing down the cost of energy. But I believe this will only be a temporary measure until these new sources come.
Folks, I know you may be having a hard time seeing this, but all of this goes hand-in-hand with what we are looking for… the RV of the Iraqi dinar.
This prophecy is especially important and coincides with the more recent Feb 9th prophecy from Julie Green. Did you listen to it? WOW!
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PROPHECIES FULFILLED: How do we engage the prophecies? Are they really a voice from God? So, as we listen and time passes, we step back and analyze what happened and compare to the prophetic words spoken.
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WILL ALBERTA CANADA SUCCEED FROM THE FEDERAL GOVERNMENT?
As in most cases of what is going on today there is no “yes” or “no” answer to these important questions but instead we should be looking at why Albertans are even thinking of this move. Everyone needs to see that what is going on in America today with this WOKE agenda and realize it is also taking place in the Canada, UK, EU, Australia and other developed countries. So, some global entity must be orchestrating it. This is the important takeaway today. It just doesn’t happen. It is destroying our long-standing fabric of life, our values, culture and freedoms in all our nations. But who is behind it?
Citizens are frustrated with this globalist agenda. They have already gotten a taste of it and don’t support it. However, the politicians don’t seem to hear their voices and drop these warped globalists ideology. Seems they about democracy.
THE “PUPPET” SENATOR FROM PENNSYLVANIA
HOW THE LEFTIST DEMOCRATS ATTACKS ON FETTERMAN SHOW WHAT’S WRONG WITH THE DEMOCRATIC PARTY
So, candidate for the U.S. senate Fetterman has a stroke and yet continues his pursuit for the Senate seat in Penn. Somehow, they rig the election and he gets into the Senate seat anyhow (we all know about their election fraud). We obviously see he is not qualified to be in that position. The democrats need his vote and so he becomes their puppet in the Senate. They prop him up, they force the news media to protect him and they even dress him up in a suit to attend in person sessions in the chambers.
Now, as time passes, Fetterman has recovered from his stroke and is more coherent and can think more clearly now. It is like he wakes up out of a fantasy and realizes his responsibilities and oath of office as a Senator. He then begins to speak out against the democrat policies. Then what happens next surprises everyone (but shouldn’t surprise us too much). The democrat party leadership decides to dump Fetterman and so the propaganda begins from the new media this direction. A complete reversal. Oh…but Fetterman is better now and so why now?
Now all of a sudden Fetterman is no longer fit for office. Really? What about the years he was in office prior to his recovery from his stroke. He even admits he was not thinking clearly and able to communicate back then. Why didn’t they recognize his disability then? As I said they needed his vote in the Senate and so they continued to prop him up as their puppet senator. This should be obvious to everyone now.
So, will Fetterman’s frustration cause him to defect over to the Republican party? It is not a matter of “if” anymore but when. The writing is on the wall. I wouldn’t be surprised if he even shows up dead someday if he continues to move in this direction. The democrats once again show their stupidity in making an enemy out of him and this too will backfire on them.
God says through his prophets “what can be exposed, will be exposed”. But where is the “JUSTICE” for what they have done? The damage is already done? I keep asking God this question and through his prophets we are told that “JUSTICE” is coming. It will happen in God’s plan and we must be patient.
AOC FOR PRESIDENT IN 2028
SEN. KENNEDY take son the notion of AOC RUNNING FOR PRESIDENT IN 2028
All I can say is let her. I hope she is the democrat candidate in 2028. I also hope that the bill before the house passes and gives Trump yet another third term. Really now is this a joke or what? Can the democrat party stoop that low? If this is what the democrats want then let them have another landslide election for the republicans. How will the news media find it to prop her up?
TRUMP SAYS HE WILL REOPEN AND EXPAND ALCATRAZ PRISON
All I can say is WOW! Is this really happening to clean out the corrupt from our government? When will JUSTICE be served? Do they need to clean out these corrupt judges first? This appears to also be happening now.
We have witnessed this corruption way too long already. We must go deeper and ask why Trump is proposing to do this? Who does he intend to lock up? Does he expect to isolate many treasonous politicians and government officials in one prison convicted of crimes in the near future? Yes, where would they put all these thousands of rouge judges and politicians? It’s much cheaper than building a new prison.
These corrupt politicians know what is coming. You know who they are too.
Marco Rubio: TRUMPS FOREIGN POLICY FOR AMERICA
Short clips like this one from one of Trump’s cabinet meetings tells us so much on the policy of this administration. We must continue to pray that the Holy Spirit anoints all of these cabinet members to do God’s will in making this country great again. We must get off this global agenda and get back to basics. We regain our national pride.
US-UKRAINE RARE MINERALS DEAL IS COMPLETED.
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DNI Tulsi Gabbard Reacts to America Signing Ukraine Minerals Deal.
Will this help Americans at Home? Do you even know that over $350 billion in aid was given by America to Ukraine?
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TREASURY SECRETARY BESSENT JUST REVEALED THE USA’S GRAND MASTERPLAN TO BALANCE THE GLOBAL FINANCIAL SYSTEM
How is all this related to the RV? Do you want to know how the Iraqi dinar fits into the total plan? Bessent talking about the balance in the financial system folks! Did my CBI contact not tell us the RV was going to be used to infuse lots of liquidity into the system but only under a balanced” system. I couldn’t hardly believe that he even used these exact terms. To me putting currencies on a “level playing field” is part of the balancing process. Bessent even mentions this in this speech and interview below. Go figure! Everyone should take the time to listen to these videos today. Folks, this is the plan. Yes, everyone always wants to know what is holding up the RV, well here you have it folks. This is part of it.
This Is Treasury Secretary Bessent’s Most Important Interview Yet.
IS THE NEWS MEDIA FINALLY ADMITTING YEARS OF MISTAKES IN “FAKE” NEWS?
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IS BRIGITTE MACRON REALLY A MAN?: ONE COINCIDENCE TOO MANY
Please go watch a four part series sponsored by Candice Owens on what she found to answer this question. First of all why would anyone even ask this question.
You can visit the Mnt Goat Archives April 10th Newsletter here to continue watching the entire series of FACTS. Remember just because the deep state establishes a personality to use does not mean it is the background of the person in question. In other words, Brigitte’s past may be the past of someone else and just used to establish her/his credibility. The “official” records show Brigitte had a prior marriage and two children. No one is questioning these facts but they are actually talking about another person not Brigitte. You see, they take on the personality of someone else. They even photo shop pictures. They are good at this. However, they are getting caught now and the game is over. Just like in the U.S. with Clintons and Obamas they need to use the family structure to get into the hearts of the citizens to vote for them. Folks, it is all a lie and facade.
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Pray, Pray, Pray & Pray some more!
Please try to remember to pray each and every day. In Hebrews 11:6, it underscores this principle of why we pray: “But without faith it is impossible to please Him, for he who comes to God must believe that He is, and that He is a rewarder of those who diligently seek Him.”
You don’t have to be Catholic to pray….lol..lol.. As a Christian, praying the rosaries for me is my way to pray and has had a significant impact on my life and focus during this Easter season and throughout the year. I find it is good to remember the Stations of the Cross during lent and what our savior did for us. In know many of you may not be Catholics or even Christians but try to take a different approach this Easter. Try to see what all the fuss is about Christ. Put yourself in Christ shoes (or should I say sandals) as an ordinary person in today’s world. You can quickly see that the nature of man has not changed very much and if Christ were born today, many would probably try to crucify him. Have we not learned anything?
We all know something has gone terribly wrong with our nation. A supernatural battle is taking place to determine the fate of America. In just twelve minutes a day you help bring forth a divine intervention to save our country using this book. Let us not forget to fast, meditate and pray for the salvation of America. There is an organization that is taking on this endeavor through helpful prayer guidance. This is what I plan to do. How about you?
Anyone can join the hundreds of thousands already involved in this rapidly-growing prayer movement. It’s easy to get started:
RAFIDAIN BANK IN A NEW LOOK: AL-SUDANI ANNOUNCES A NEW BANKING ERA IN IRAQ
Prime Minister Mohammed Shia al-Sudani confirmed on Monday that the government has adopted comprehensive plans for banking reform and contracting with private financial auditing firms, covering all banks. He also indicated that the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.
A statement from the Prime Minister’s Office, received by Shafaq News Agency, stated that “Al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks, during which the mechanisms for implementing the banking reform plans prepared by the government as part of comprehensive reforms of the economic sector were discussed.”
Al-Sudani stressed, according to the statement, that “all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies,” noting that “the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, covering all banks, and has made great strides in implementation.” He indicated that “the work of the First Rafidain Bank will be launched with a new look and vision, and in partnership with specialized and well-known banks.”
He pointed to “the formulation of a clear roadmap to address the situation of the private banking sector, as a partner in development,” stressing “the need for cooperation during the next phase to take effective steps to reform the economy,” and affirming “the state’s distancing from detailed intervention in sectors and assuming the role of regulator.”
Al-Sudani pointed to “working to integrate the private sector and foreign companies in all major projects, as well as supporting local productive sectors and absorbing the imported cash flow into providing domestic goods and services to citizens as an alternative to imports and ensuring support for local investment.”
The Prime Minister directed banks to “simplify procedures, participate broadly in the development process, participate as investors in all available opportunities, move toward partnerships with foreign companies, and work to build trust with citizens, which will help ensure they feel secure depositing their money in banks.”
For their part, the heads of the Iraqi banks’ boards thanked the government for its support to the banks and its assistance in solving their problems. They confirmed the rise in credit and financial accreditation indicators, and pointed out the rise in trading via electronic payment from (1.7) trillion dinars in 2020 to reach (21) trillion dinars in 2024. They confirmed their readiness to localize the salaries of private sector workers and their commitment to restructuring Iraqi banks and the (Oliver Wyman) plan, as it will be a comprehensive solution to most of the problems that the banking sector suffers from, according to the government statement.
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RAFIDAIN BANK REASSURES: THE BANK’S FINANCIAL POSITION IS EXCELLENT.
Rafidain Bank confirmed on Monday that its financial position is excellent and that it is committed to fully covering expenses. While noting that the amounts withdrawn by the bank were from its sovereign accounts, it emphasized that all depositors’ funds are fully insured.
Ahmed Thamer Al-Ghariri, the bank’s director of payments and mutual accounts, told the official agency that “Rafidain Bank has not yet recorded any failure to meet its financial obligations,” indicating that “things are proceeding properly.”
He added, “The bank’s financial position is excellent,” noting that “the bank is fully committed to covering customers’ expenses and obligations without any obstacles.”
He stressed that “the sums withdrawn by the Ministry of Finance are from its own sovereign accounts and have no relation to citizens’ deposits,” noting that “more than 80% of government department accounts are deposited in Rafidain Bank, which is naturally subject to the policies of the Ministry of Finance, which can use these funds to serve the state’s financial policy, leading to a natural increase or decrease in the bank’s balance.”
He pointed out that “all depositors’ funds, which number more than seven million customers, are fully insured, whether in reserves or other balances,” explaining that “the bank is fully committed to its customers with all current and future banking products.”
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WASHINGTON LEANS ON IRAQI BANKS TO CHOKE IRAN’S DOLLAR SUPPLY
Iraq is a key hub allowing Iran access to the international financial system, but the US is turning up the pressure on the country’s banking system.
The US is tightening its maximum pressure grip on Iran by focusing on one
of the key hubs that allows Tehran access to the international financial system: Iraq.
In the latest wave of tightening financial measures, Washington targeted public and private Iraqi lenders facilitating Iranian access to international financial markets.
US pressure on the Iraqi banking system is hard to overstate, with 34 of the 44 private banks in Iraq under sanctions, leaving ten lenders with full access to the banking system.
Regional analysts estimate that Iraq facilitates and effectively launders $300 million of Iranian capital a day.
A Reuters report in February suggested that more private lenders will follow should the Central Bank fail to rein in capital flows to Iran. The Central Bank of Iraq itself could be subject to US sanctions.
The banking system is central to a broader Iranian nexus of influence in the country. Many of the lenders appear to be handling the payroll, supplies, and financial transactions of Iran-backed paramilitary groups and militias. They also help Iran to do its business far from US sanctions.
As a result, many leaders of political groups across the political spectrum in Iraq are involved in lucrative business with Iran and are not willing to give up these benefits so easily. This puts added pressure on the Iraqi government when implementing reforms that would halt these kinds of interactions.
The scope of this trade has expanded beyond Iran to include cooperation with Turkey, Lebanon, and Syria. According to some sources, the volume of Turkish money laundering in Iraq is at least four times that of Iran.
According to Iraqi banker Abed Rab al-Heidari, Iraqi lenders are not merely involved in money laundering on behalf of Iranian individuals and groups, but also Turkish, Syrian, and Lebanese individuals.
This phenomenon is predicated on political protection, but under pressure from Washington, the government is willing to combat money laundering and implement the necessary reforms. There is political pushback, however, as many parties are tied to this financial system, particularly militias.
“The armed groups are fundamentally unwilling to accept any Iraqi government directive or limit the scope of their activity,” al-Heidari told The New Arab. The banker highlighted the case of an individual detained and sentenced to life imprisonment for money laundering and capital transfers from Syria to Iraq. Following political pushback, his sentence was commuted to 15 years.
The problem with Iraqi lenders
What distinguishes Iraq’s trade with Iran is its disregard for the US dollar ban imposed on Iran. US Secretary of State Marco Rubio told Iraqi Foreign Minister Fuad Hussein that Iraq may continue energy imports from Iran, but cannot give the Iranians a single dollar.
Iraqi financial analyst and banking consultant, Mustafa Hantoush, points out that Baghdad’s failure to disrupt Iran’s access to dollar markets is a distinctly Iraqi challenge.
A string of countries across the Levant and West Asia have been engaging in financial transactions with Iranian individuals or entities. The UAE facilitates payments in goods, Oman allows remittances, and Turkey allows trade in gold. Iraqi lenders facilitate dollar transactions, making the country irreplaceable for Iranian capital markets.
“The continued misguided approach of the Central Bank will lead to financial turmoil, which, coupled with potential US sanctions, could spell disaster for the Iraqi banking system and government,” Hantoush told TNA.
The Trump Administration is responsive to calls for sanctions articulated by US Treasury officials and is moving to target Iraqi lenders and, significantly, individual managers and shareholders.
Banking sources told the Iraqi news platform Al-Sa’a that “the sanctions will target the individual owners of at least one of the five private lenders accused of being the banking arm of a militia”.
A key campaigner for this course of action is Republican Congressman Joe Wilson, who has targeted Iraq’s biggest lender, the Rafidain Bank, in a string of social media posts.
Speaking on condition of anonymity, a member of the ruling ‘Coordination Framework’ parliamentary coalition suggested to TNA that Wilson’s criticism is valid: shadow banking elicits the complicity of all Iraqi political factions, Sunni, Shia, and Kurdish.
Choking Iraqi banking
To date, the Central Bank of Iraq denies an immediate threat of sanctions while confirming consultations with US Treasury Department officials in the United Arab Emirates. In principle, it is committed to monitoring foreign transfers and dollar cash sales to prevent money laundering.
Washington’s pressure is mounting, moving from private to state-owned lenders, including the Rafidain Bank, the Rashid Bank, the Trade Bank of Iraq, and other specialised institutions focused on agriculture and industrial portfolios, which could threaten economic stability in the country.
Between US regulatory pressure and Iranian-backed militia pushback, Iraq is seeking a resolution via the consolidation of the banking sector. Abiding by International Monetary Fund (IMF) instructions, the government is considering the merger and restructuring of state-owned lenders implicated in money laundering and sanctions evasion.
Initially, the Central Bank of Iraq had been leaning on private lenders to contain the escalation of US sanctions. In February, Iraq’s Central Bank barred five private lenders from engaging in US dollar transactions: Al-Mashreq Al-Arabi Islamic Bank, United Bank for Investment, Al Sanam Islamic Bank, Misk Islamic Bank, and Amin Iraq for Islamic Investment and Finance. This adds to a previous list of eight Iraqi banks hit by similar sanctions in 2024.
Iraq’s response is to merge and restructure state lenders, clearing their portfolios.
“The truth is that most of these Iraqi lenders do not have foreign partners, are bankrupt or on the verge of bankruptcy,” according to Youssef Mohammed Hassan, a member of the Iraqi Presidential Law Committee, an advisory body that reviews the constitutionality of legislation. These banks include the state-owned Rafidain and Rashid banks.
According to Mohammed Hassan, Iraq has made restructuring, consolidation, and the cleaning up of problematic asset ledgers conditional on IMF and World Bank supervision. The die is cast.
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POLITICAL INTERFERENCE IS “RAVAGING” IRAQ’S ECONOMY. WHAT DOES THIS MEAN TO EXPERTS?
Iraq’s private sector suffers from significant weakness and stagnation due to its direct reliance on government funds, whether through salaries or project dues. This has rendered it unable to build an independent economic base.
Experts believe that this over-reliance has made the private sector significantly vulnerable to government financial fluctuations and has contributed to strengthening the state’s role in economic activity at the expense of individual initiatives and free investment.
Experts warn that the continuation of this situation threatens the future of the national economy and makes Iraq more vulnerable to financial and political crises in the absence of a strong private sector capable of achieving sustainable growth.
Financial expert Ali Daadoush, for his part, said, “The significant expansion of the government’s role in economic activity has contributed to deepening financial-political dominance, negatively impacting the present and future of the national economy.”
In a statement to the Iraq Observer, Daadoush explained that “the expansion of the government’s role is due in part to the private sector’s heavy reliance on government financial releases, whether through salaries and wages (current expenditures) or contractor dues (investment expenditures), which has marginalized the role of the independent private sector.”
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IRAQ IS IN THE CROSSHAIRS OF INTERNATIONAL NEGOTIATIONS. NEGOTIATIONS BY MAJOR POWERS SHAPE THE CONTOURS OF CRISES OR OPPORTUNITIES FOR A BREAKTHROUGH.
Baghdad Today – Baghdad
Political and strategic affairs researcher Muhammad Ali al-Hakim explained on Monday (May 5, 2025) that the ongoing negotiations between the United States and Iran cast a heavy shadow over Iraq, given the direct and influential influence the two countries have on the Iraqi scene.
Al-Hakim told Baghdad Today, “US-Iranian relations are among the most complex international relations, and any shift in their course will have a direct impact on Iraq, whether positive or negative, depending on the outcome of these negotiations.”
He pointed out that “the success of the negotiations will have several positive effects on Iraq, including easing regional tensions, which will reduce the risk of a new conflict and enhance the chances of peace. The economic situation will also improve if sanctions on Iran are lifted, which will open the way for Iraq to expand its trade and economic cooperation with Tehran.”
He added that “achieving consensus between Washington and Tehran could also lead to increased international support for Iraq from both sides, which would contribute to the country’s stability and stimulate development and investment, as well as reduce the severity of the internal political divide and improve Iraqi-American relations, thus enhancing Iraq’s chances of receiving more financial and political support.”
In contrast, Al-Hakim warned of the repercussions of the failure of the talks, stressing that “it could rekindle tensions in the region, placing Iraq at the heart of new crises, with the potential for its economy to decline due to continued sanctions on Iran and the difficulty of engaging economically with it.”
He also warned that “the failure of the negotiations could exacerbate political tensions within Iraq and intensify polarization between forces affiliated with the Iranian axis and those loyal to the United States, potentially opening the door to new internal crises.”
Al-Hakim concluded his remarks by saying, “Despite three rounds of indirect talks between Tehran and Washington, mediated by Oman, Iraq’s fate remains tied to the outcome of these negotiations. Their success serves Iraq’s national security interests, while their failure could bring further crises.”
The United States and Iran have been locked in a complex political and economic conflict for years, beginning with the Iranian Revolution in 1979 and culminating with Washington’s withdrawal from the nuclear agreement in 2018 and imposing severe sanctions on Tehran.
With tensions escalating in the Middle East, Iraq has become an indirect arena for this conflict, given the presence of US forces and Iran’s extensive political and economic influence there.
Despite attempts at calming the situation through international mediation, most notably Omani mediation, negotiations remain at a standstill, with Iraq remaining the country most affected by the fluctuations in relations between Tehran and Washington.
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IMF SOUNDS ALARM: ECONOMIC PRESSURES MOUNT ON IRAQ, NON-GULF OIL PRODUCERS
Iraq and other non-Gulf oil-exporting countries are set to face mounting economic pressure due to declining oil production and shrinking public spending, the International Monetary Fund (IMF) warned on Thursday.
According to the IMF’s May 2025 Regional Economic Outlook, growth prospects in the Middle East and Central Asia have been revised sharply downward, reflecting diverging performance across countries amid a weakening global outlook.
The report cited heightened global trade tensions, tariff levels not seen in a century, and escalating regional conflicts as major drags on growth across the region.
Real GDP growth in the Middle East and Central Asia is projected to slow to 2.6% in 2025, down from 2.9% in 2024, amid oil production slowdowns and heightened global uncertainty.
For oil-exporting countries overall, growth is expected to decline to 2.4%, driven by a slower recovery in output despite the gradual easing of OPEC+ cuts, and a drop in oil prices to around $66 per barrel.
While non-oil sectors remain strong in Gulf Cooperation Council (GCC) countries—supported by public investment and ongoing reforms—non-GCC exporters like Iraq, Algeria, and Iran are under twin pressures: constrained oil output due to sanctions or logistical challenges, and reduced fiscal spending. This has led to sharp downward revisions in their growth forecasts.
Oil-importing countries such as Egypt, Jordan, and Tunisia are expected to see only marginal improvements, hampered by weak external demand, declining aid flows, and higher borrowing costs. In Central Asia, growth is being restrained by slowing investment and lower demand from key trade partners.
Despite headwinds, the IMF noted that Saudi Arabia and Qatar are continuing to benefit from economic diversification efforts and increased foreign direct investment.
Strong non-oil activity in the GCC helped offset the impact of voluntary OPEC+ production cuts, maintaining moderate growth of 2.2% in 2024. Sovereign wealth fund investments and business climate reforms also boosted consumption and private investment.
However, the report warned that growth could soften in the near term due to lower oil prices and persistent global uncertainty.
On the other hand, conflict-hit oil importers such as Sudan, Gaza, and Lebanon face deep economic contractions and humanitarian crises. Egypt’s economy, the report noted, has been negatively affected by declining revenues from the Suez Canal and mounting debt burdens, complicating fiscal consolidation efforts.
The IMF concluded that the region’s economic challenges are likely to persist amid growing financial pressures and stalled structural reforms. It called for cautious but comprehensive policy responses to ensure long-term stability and sustainable growth.
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IRAQ RECEIVES TWO MULTI-ROLE MILITARY HELICOPTERS FROM AIRBUS
The Iraqi defense ministry on Wednesday received two tactical transport military helicopters from the French aviation giant Airbus. This is part of a deal signed last year, under which Iraq will also purchase an additional 12 helicopters from Airbus.
The Iraqi defense minister, Thabet al-Abbassi, was cited in a ministry statement as saying that the receipt of these aircraft is “part of a contract between the Iraqi Ministry of Defense and the French Ministry of Defense, to supply the Army Aviation Command with this type of aircraft, which will be received successively after completing the manufacturing process.”
He further noted that the two helicopters will enter service in June, coinciding with the anniversary of the establishment of the Army Aviation Command.
In September 2024, Iraq and Airbus signed an agreement under which the French company will provide Iraq with a total of 14 helicopters, including 12 Airbus H225M helicopters, also known as Caracal.
This agreement is part of ongoing efforts to strengthen defense relations between Baghdad and Paris, following a meeting between French President Emmanuel Macron and Iraqi Prime Minister Mohammed Shia’ al-Sudani.
Tahseen al-Khafaji, Director of Media at the Iraqi Ministry of Defense, told Rudaw on Wednesday that, according to the agreement, Airbus will deliver all 14 helicopters by the start of next year.
He also mentioned that the two helicopters that arrived in Baghdad on Wednesday will be handed over to the Iraqi Air Force on May 26.
He also stated that between June and October, six more helicopters will arrive in Baghdad.
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A REPRESENTATIVE REVEALS THE REASON FOR THE GOVERNMENT’S WITHDRAWAL OF TAX FUNDS: THE US FEDERAL RESERVE HAS STOPPED TRANSFERRING FUNDS TO IRAQ
Iraqi parliament member Dr. Raed Hamdan al-Maliki described the United States’ control over the transfer of Iraqi oil export revenues as “the greatest violation of the country’s sovereignty,” calling on the Iraqi government to tell the truth to the people.
In a tweet on his official X (formerly Twitter) account, followed by Iraq Observer, Maliki said that the government’s withdrawal of tax funds and their use to cover operating expenses was due to the US Federal Reserve’s suspension of oil revenue transfers.
He added, “It appears that the government’s reason for withdrawing tax trust funds and using them to cover operating expenses is due to the US Federal Reserve’s suspension of the transfer,” referring to US measures restricting the movement of Iraqi funds held in international bank accounts.
Al-Maliki called for an end to this situation, saying, “This matter must end, and the government must tell the people the truth.”
The Council of Ministers had previously, in an official decision, authorized the Minister of Finance to withdraw tax deposits less than five years old to finance and pay salaries for April and subsequent months.
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BANKS BLOCKED BY US RED WAX… AND BAGHDAD IS NOT THE CAPITAL OF IRAN 69
From the Iraqi government negotiations in Washington
Baghdad is trying to save more than 30 new banks from expected US sanctions and convince Washington that Iraq is “not Iran.”
On Saturday, Foreign Minister Fuad Hussein held negotiations in Washington that may pave the way for a meeting between al-Sudani and Trump.
Hussein met with his US counterpart, Marco Rubio, in the first meeting between senior officials from the two countries since Donald Trump took office in early 2025.
According to an Iraqi government statement, the visit focused on the Iranian gas file, as well as security and economic issues.
However, there may be other aspects of the foreign minister’s visit that were not clearly announced, related to politics and the economy.
Protecting Funds and Banks
Ihsan al-Shammari, a researcher and academic, told Al-Mada about the visit that it coincides with the approaching end of the executive order issued annually by the US president to protect Iraqi funds, which expires after mid-May.
On May 22, 2003, former US President George W. Bush issued an executive order to protect the Development Fund for Iraq, in which oil sales revenues were deposited, with the aim of protecting them from any legal prosecution.
Therefore, Iraq is “very concerned,” according to Al-Shammari, about the possibility that “Trump will not sign this executive order, and thus Iraq will lose its dollar reserves, as a result of lawsuits that may be filed against Iraq. Therefore, Iraq has officially requested the renewal of this protection with the president’s signature.”
The Development Fund for Iraq was established after 2003, and before that, the money from Iraqi oil sales was deposited in an account managed by the United Nations under the so-called Oil-for-Food Program.
Also on the economic front, Al-Shammari, a professor of strategic and international studies at the University of Baghdad, confirms that the visit is related to discussions on US sanctions on banks.
He traveled with the delegation with the Minister of Foreign Affairs, Minister of Finance Taif Sami, and the Governor of the Central Bank, Ali Al-Alaq.
Al-Shammari reveals that the number of Iraqi banks sanctioned by the United States has reached “37 banks,” and according to indicators, the
number may rise to “69 banks.”
He adds: “There is an American request to close the banks operating in Iraq with red wax, and what remains are four or six banks operating, according to information.”
Therefore, Iraq wants to make America understand, as much as possible, that it is serious about “reforming the banking system,” according to the professor of politics at the University of Baghdad.
Al-Shammari also points out that there is a problem with “prepaid cards,” as the US Treasury found that “part of the work and activity of those who want to circumvent US sanctions is carried out through these cards.”
Two weeks ago, news leaked that MasterCard and Visa cards had been suspended in Iraq, before the Central Bank denied the news.
Al-Shammari says that “Iraq needs more time to organize this process, because there is an American threat to stop dealing with transfers through prepaid cards.”
Representatives had previously warned of US sanctions against Iraqi “financial institutions” involved in smuggling dollars to Iran and related to paying the salaries of the Popular Mobilization Forces.
“We are not part of Iran.”
On the other hand, Al-Shammari, who also heads the Political Think Tank, believes that Hussein’s visit to Washington coincided with the imminent appointment of a person responsible for the Iraqi file at the US State Department.
He says, “It seems that Iraq wants to be as close to Washington as possible, to at least explain its viewpoints or the nature of Iraq’s orientations with America, even on some occasions.”
Also, in terms of timing, the visit coincides with the US-Iranian negotiations. Therefore, according to the head of the think tank, Iraq wants “to avoid any conflation of the Iranian file with the Iraqi file.”
He continues, “Baghdad wants to tell America to separate Iraq from Iran, because Iraq is a sovereign and independent country, and all the indications coming from Trump and his team confirm that he is not separating Iraq from Iran.”
Al-Shammari asserts that Iraq does not want to be “a bargaining chip, part of a deal, or part of a clash” with Iran, and wants “the Iraqi foreign minister to understand these issues from his American counterpart and the political circles there.”
Furthermore, Al-Shammari believes that the Iraqi foreign minister wanted to convey the desire of Mohammed al-Sudani, the prime minister, to visit Washington and meet with Trump.
Al-Shammari explained that Al-Sudani wants to prove that he is ready to work with Trump, and the visit may succeed in that, and may also succeed in “extending protection for Iraqi funds.
” Trump’s conditions
However, in general, the researcher believes that the visit may not have major results, especially after the statements of the US Secretary of State, in which he called for Iraq to be an independent, sovereign country, free of “malicious activities,” in reference to Iran and the factions, which may be interpreted as America’s commitment to its previous conditions.
Al-Shammari added: “The visit remains subject to developments in the region, developments in the US-Iranian negotiations, and the Israeli-Iranian clash.”
Al-Shammari pointed out that “it is not possible to build on a single visit, as the Trump administration is asking Iraq to take further measures.”
It seems that Al-Sudani, according to Al-Shammari, is currently; “Unable to accept these conditions,” which relate to dismantling the factions’ weapons, severing ties with Iran (political, economic, and security ties), and halting currency smuggling, the government has also not made any progress on the issue of the Israeli hostage in Iraq, Elizabeth Tsurkov, whose release was one of the urgent demands of the US administration.
The Iraqi Foreign Ministry’s statement about the visit revealed discussions regarding the strategic agreement between the two countries, and
Baghdad’s request that Washington reconsider security warnings related to travel to Iraq.
Judgment is still early.
Meanwhile, former MP Mithal Alusi believes that it is difficult to judge the Trump administration’s stance on Iraq and the region in its first three months, while the results may become apparent four years from now.
Alusi told Al-Mada, “America’s current priority is the Iranian issue, and this issue is outside the influence of the US Departments of Defense and State. It is more or less in the hands of Trump and one or two of the president’s advisors.”
Al-Alusi added, “Trump personally has a vested interest in events in Gaza and Jordan, the economic, political, and security situation in Egypt, Lebanon and Syria, and most recently in Iraq.”
Al-Shammari, a former member of the parliament’s Foreign Relations Committee, described Iraq as “the last of the bunch and the last center of American interest,” because it is influenced by US policy in Syria, Turkey, Jordan, and, of course, Iran.
Al-Alusi emphasized that “the best thing the Iraqi foreign minister could have done was to approach Washington directly, especially since the US embassy in Baghdad is still incapable, and is made up of the old, failed staff who understand less the US-Iraq relationship than the Iraqi-
American relationship through Iran.
This is where the danger lies.”
Al-Alusi fears that the government’s direct action against the State Department and Washington is an “almost desperate” attempt to salvage Iraq’s position and protect it from the inevitable political and security turmoil on the ground if the US-Iranian negotiations fail or succeed.
He continues, “I had hoped, in addition to the State Department’s efforts, to see an Iraqi political position. The Coordination Framework, which leads the government and holds exclusive power in parliament, was supposed to participate and send delegations to Congress and knock on the door of the US government, but these parties are waiting to see what happens from Iran and how things develop between Iran and the US.”
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AL-SUDANI TO WASHINGTON: SHARAA WILL COME TO IRAQ, AND THE WORLD WILL HEAR HIS PLAN FROM BAGHDAD.
In an interview with American journalist Tim Constantine, the Iraqi Prime Minister almost settled the controversy surrounding Syrian President Ahmad al-Sharaa’s attendance at the Baghdad summit. He spoke about the importance of the Arab deliberations that have made Iraq more than just a host for the larger Arab summit, but also a party to an initiative that will enable the Syrian leadership to discuss its plan for the future of the political process in Damascus. He also highlighted the importance of relations with Washington and Tehran.
Mohammed Shia al-Sudani, in an interview with American journalist Tim Constantine:
Hosting the Arab Summit in Baghdad is important to affirm Iraq’s role and balanced relations in the region. We will not merely be a host country, but rather an initiator of solutions to the various crises facing the Middle East.
Our invitation to the Syrian president came within the well-known protocol of the Arab League system. The legitimate president is the one who represents the Syrian state, regardless of the political process there or the nature of the change. His presence is important in order to clarify to the Arab states his vision for the future of the new Syria, which represents a pivotal issue for us and all Arabs in the security and stability file. We are keen on the stability of Syria, its future, and its reconstruction.
We are keen on the security and stability of Syria because it is part of Iraqi national security. We hope for a comprehensive political process based on guaranteeing the rights of all citizens, respecting human rights, and rejecting extremism and terrorism. We also hope for clear positions on how to build state institutions. This will build stability and enable the new administration to confront challenges. Everyone knows that ISIS is clearly active on Syrian territory, especially after the change. We are keen to support Syria to enhance security there and in the region.
We have good relations with both Iran and the United States. Iran is a neighboring country, and we share a strategic friendship with America. Therefore, we are keen to ensure that dialogue prevails between them to address the differences between the two sides. We support and encourage the current negotiations, and their success will reflect on the region as a whole, and on Iraq as well, because we have faced many challenges due to the tension between Washington and Tehran.
Our relations with the United States are governed by the Strategic Framework Agreement, which opens the door to cooperation with Washington in various fields, not just in the security field. We have a successful experience in security partnership with America, and we fought together against ISIS in one of the most successful alliances in the world. However, we opened a dialogue to arrange the relationship with the international coalition because our country is experiencing stable conditions that are different from what they were in 2014. We seek to shift towards bilateral relations, and this is what we focused on through two rounds of dialogue in Washington, and we hope that the third will be in Baghdad.
The Palestinian issue is the root of the problem in the Middle East, and without a solution, we will continue to face many crises. In my opinion, this issue must be resolved radically, and President Trump is capable of leading global efforts to resolve it. The Palestinians must be heard and their legitimate rights to establish their state on Palestinian lands must be heard. This is consistent with Security Council resolutions and the peace conferences in Oslo, Madrid, and Sharm el-Sheikh. The international community must resolve this issue because it has caused a major rift in the international system and significant damage to the principles upon which this system was founded.
Iraq is experiencing its best situation since the founding of the modern state. There is security and stability, and there is also stability in the political system, despite some reservations. There is also a constitution, freedoms, and a peaceful transfer of power, and there is diversity and a democratic process unique in the region.
Iraq is not what it is often portrayed as: a war zone. The indicators on the ground are different. Residents of the capital walk around late into the night. More than $88 billion in investments have entered the country, the latest of which was the contract with British Petroleum in the Kirkuk oil fields. There are tourists from all over the world, and I saw them in Hatra near the Iraqi-Syrian border. Others are in Ur, a Christian pilgrimage site. So there is a life there that is different from the negative portrayal.
The previous regime executed my father and five members of my family during the Iran-Iraq War. Then came the change and we entered the tunnel of terrorism. So the past four decades have been painful for Iraqis, and what we are trying to do now is compensate them for what happened during the previous period.
The challenge facing my government is to restore citizens’ confidence in state institutions, following the many setbacks that have occurred over the past two decades. Therefore, we are focusing on the issues of poverty, unemployment, services, and economic reform. We face significant challenges in these areas, but we have the will and a long road ahead.
Corruption is one of the challenges facing my government, and I have initiated practical, not media-based, measures to combat it, starting with the repatriation of some corrupt foreign nationals and the recovery of half a billion dollars in stolen funds smuggled abroad. We have also moved toward governance and automation to simplify procedures and transactions and block the path of corruption.
The infrastructure projects you see in Baghdad are also present in all the provinces. We are focusing on economic reform. It is not possible for Iraq to remain a rentier state dependent on oil revenues. We have significant resources in the trade, agriculture, industry, and tourism sectors. We have a distinguished geographical location, and we are working on a dream project, which is a development path to link Asia with Europe and create economic partnerships with countries in the region. This is what creates stability in this country.
Security is not the only issue that connects us to the United States. We have significant economic relations and major contracts with major American companies in various fields. The value of our American car imports amounts to $4 billion. The new customs tariffs imposed by President Trump are being imposed on us through a third country. Therefore, we have offered American companies the opportunity to open official agencies directly in Iraq.
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AL-SUDANI WILL HEAD TO KIRKUK TO INAUGURATE THE LARGEST OIL REFINERY.
An informed source in Kirkuk Governorate revealed on Saturday that Iraqi Prime Minister Mohammed Shia al-Sudani intends to visit the governorate this week to lay the foundation stone for the largest investment oil refinery in Kirkuk and inaugurate several service and development projects.
The source said, “The visit is expected to take place within the next two days, starting on Monday, and will include the inauguration of the Kirkuk investment refinery project, which is the largest of its kind in the governorate, in addition to the inauguration of other projects in various sectors.”
He added, “During his visit, the Prime Minister will meet with officials from the North Oil Company to review the progress of work and follow up on the details of the joint contract between the company and its British counterpart (BP), in addition to discussing ways to develop the energy infrastructure in the governorate.”
This visit comes within the framework of the federal government’s efforts to support investment in the energy sector and enhance economic development in oil-producing governorates.
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THE TRUTH ABOUT THE WITHDRAWAL OF RAFIDAIN AND RASHID FUNDS: SOVEREIGN FUNDS, NOT CITIZENS’
The Iraqi Ministry of Finance stressed on Saturday that the funds withdrawn from the government-run Rafidain and Rashid banks do not represent citizen deposits or the banks’ insurance balances. Rather, they belong to the ministry’s sovereign accounts, were kept as a temporary operating tool, and were transferred back in accordance with financial and administrative instructions to be allocated within the general budget.
In an official statement received by Shafaq News Agency, the ministry confirmed that some media outlets, social media platforms, and a number of MPs had circulated false information, as part of what it described as the promotion of lies and rumors for political and electoral motives. It considered this a form of electoral rhetoric that lacks moral responsibility.
The statement added that comparing these measures to experiences of banking collapses in other countries is inaccurate, ignoring the unique legal and regulatory structure of the Iraqi banking sector, which is subject to the Central Bank’s oversight and strict compliance and governance regulations.
The statement indicated that Rafidain and Rashid Banks maintain high liquidity and cash reserves that exceed the established ratios, and that they regularly perform their duties in disbursing salaries, financing projects, and fulfilling obligations to customers. It also indicated that Rafidain Bank’s legal reserve at the Central Bank amounts to approximately 9 trillion Iraqi dinars.
The ministry noted that the latest letter issued by the Central Bank, dated April 24, confirmed that Rafidain Bank’s unused reserves amounted to 4 trillion and 277 billion dinars, while its used reserves amounted to 4 trillion and 263 billion dinars, for a total of more than 8 trillion and 540 billion dinars, without any harm to them.
The statement explained that the thefts that previously affected some trust accounts were due to funds remaining idle for extended periods, allowing corrupt networks to exploit loopholes. It confirmed that new oversight measures have been implemented in coordination between banks and the Ministry of Finance to mitigate risks.
The ministry called on citizens to be aware and discern the motives behind political misinformation, warning against attempts by some parties to distort the facts and distort government performance.
She emphasized that the levels of economic transparency and reforms adopted by the government have been praised by international financial institutions and have contributed to raising Iraq’s credit rating and attracting global investment.
The Ministry of Finance emphasized the government’s commitment to continuing its economic reform approach and strengthening financial and banking management. It called on media professionals and social media users to exercise accuracy and assume national responsibility, affirming that the doors of the ministry and banks are open for professional review of official data and reports.
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IFC TO HELP IRAQ DEVELOP INDUSTRIAL CITIES
Iraq’s Minister of Industry and Minerals, Khaled Battal Al-Najm, met with a delegation from the International Finance Corporation (IFC), a member of the World Bank Group, to discuss potential cooperation in the development of industrial cities and workforce capacity building in Iraq.
The meeting included a presentation by the IFC on its role in supporting industrial projects, attracting private developers, and enhancing the skills of employees working in industrial city initiatives. Discussions also covered state-owned industrial city projects that have partnered with private sector developers, and explored options to jointly develop a strategic vision for Iraq’s industrial zones.
Global trends in industrial zone strategy and green zone concepts were also reviewed.
Minister Al-Najm stressed the importance of leveraging such cooperation to enable Iraq’s industrial cities to play a greater role in economic development. He instructed the immediate initiation of training programmes for staff at the Industrial Cities Authority, aimed at equipping them with the skills required to keep pace with modern industrial advancements.
The Minister also directed that the IFC delegation be accompanied on a site visit to Najaf Industrial City, to assess the current status and discuss next steps for future collaboration.
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
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Mnt Goat
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