Iraq Economic News and Points to Ponder Tuesday Afternoon 3-11-25
Al-Alaq: Iraq has one of the highest gold reserves among Arab countries, amounting to 162 tons.
Economy | 01:53 - 11/03/2025 Mawazine News – Baghdad The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that Iraq has one of the highest gold reserves among Arab countries, amounting to 162 tons.
Al-Alaq said in a statement: "The Central Bank is closely monitoring the movement of gold and currencies," noting that "part of diversification to ward off any risks is to have a percentage of gold reserves, especially in recent years, there have been continuous purchases."
He added that "Iraq today has 162 tons of gold, which is one of the highest reserves among Arab countries, and we are the fourth country in the size of the gold reserves we have." https://www.mawazin.net/Details.aspx?jimare=260122
Oil Prices Rise Slightly Despite Concerns Over Global Economic Slowdown
Tuesday 11 March 2025 | Economic Number of readings: 54 Baghdad / NINA / Oil prices rose slightly during trading on Tuesday, after reducing their previous losses, supported by the weakness of the US dollar, but gains remained limited amid continued fears of a possible economic recession in the United States, and the repercussions of customs duties on the pace of global growth.
Brent crude futures rose by 47 cents, or 0.68 percent, to record $69.75 a barrel, after witnessing a decline in early trading. "
West Texas Intermediate US crude futures rose by 42 cents, or 0.64 percent, to reach $66.45 a barrel, after declines recorded earlier in the session."
This slight rise came in conjunction with the dollar index falling to its lowest levels in four months, which contributed to supporting oil prices and making them less expensive for buyers holding other currencies. "
The two benchmark crudes recorded a 1.5 percent decline at the settlement yesterday, affected by market fears of a global economic slowdown." / End 2 https://ninanews.com/Website/News/Details?key=1191259
Dollar Continues To Decline As Iraq Stock Market Closes
11/03/2025 Mawazine News – Economy The US dollar exchange rates witnessed a decline today, Tuesday, in the markets of the capital Baghdad, and in Erbil, the capital of the Kurdistan Region, with the closure of the main stock exchange in the country.
The dollar prices decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, where the exchange rate recorded 147,800 dinars per 100 dollars, while it recorded 148,200 dinars this morning.
As for the selling prices in the local exchange markets in Baghdad, it reached 148,750 dinars per 100 dollars, while the purchase price reached 146,750 dinars per 100 dollars.
In Erbil, the markets also witnessed a decline, where the selling price reached 147,700 dinars per 100 dollars, while the purchase price reached 147,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=260137
Minister Of Finance Stresses Importance Of Ongoing Partnership With World Bank
Economy | 11/03/2025 Mawazine News – Baghdad Finance Minister Taif Sami stressed, on Tuesday, the importance of the ongoing partnership with the World Bank.
The Ministry of Finance said in a statement received by "Mawazine News" that "Minister of Finance Taif Sami received the World Bank Representative to Iraq, Jean-Christophe Carret, and his accompanying delegation."
She added that "ways to enhance economic and financial cooperation between Iraq and the World Bank were discussed," noting that "a number of key topics related to enhancing financial stability in Iraq were reviewed, in addition to discussing the development projects that the two parties seek to implement with the aim of achieving sustainable development.
" The Minister of Finance stressed "the importance of the ongoing partnership with the World Bank, and Iraq's aspiration to benefit from the technical and financial support provided by the bank in implementing strategic projects to stimulate economic growth and provide job opportunities, especially in areas that include infrastructure and human development."
For his part, the World Bank representative expressed the bank's commitment "to continue supporting Iraq in achieving its development goals," noting that "the World Bank pays great attention to enhancing Iraq's ability to face economic and development challenges, with a focus on sustainable development and achieving comprehensiveness in the benefits achieved."
https://www.mawazin.net/Details.aspx?jimare=260129
Rashid To An American Newspaper: Iraq Is Ready To Mediate Between Washington And Tehran
Political | 05:27 - 11/03/2025 Mawazine News – Baghdad President Abdul Latif Rashid confirmed today, Tuesday, that Baghdad wants to play a mediation role between Washington and Tehran, while calling on US President Donald Trump to implement his promises regarding ending conflicts in the Middle East.
Rashid said in an interview with the American newspaper "Washington Times", that "Iraq has changed a lot from what it was in the days of Saddam Hussein, and the time of entering into conflicts and challenging the rights of other countries is over,"
adding that "some major companies, in the field of energy and others, are active here in petrochemicals and oil, and I do not think that we are facing a conflict with the United States, but on the contrary, we welcome all the help we can get from the United States, and we want to have a really good and friendly relationship with the United States."
He pointed out that "Iraq can play an important role in mediation because it is in constant contact with Iranian policy," indicating that "Iraq has no reservations about meeting senior Iranian officials, and has played a role in making Iran and the Kingdom of Saudi Arabia understand each other, and re-establishing the diplomatic service, which benefited everyone, and has also made some suggestions to Jordan and other countries."
Regarding Iraq's possible role in Syria, the president continued, saying, "It is clear that Syria is an independent state and has a new administration or new rulers, and we want the Syrian government to reflect the will of the Syrian people, either through elections or through the democratic steps that must be taken," stressing that "the Syrian administration must try to accommodate all segments of society, so that no one feels that he has been excluded or not treated as an ordinary citizen.
" He stressed that "there is one very important point for Iraq, which is the presence of large numbers of terrorists or families of terrorists on the Syrian border, and there is concern about that, and some arrangements must be made, so that the border does not get out of control."
In response to a question about whether the Iraqi president will receive an invitation to visit the United States, Rashid said, "I honestly do not know. I sent President Trump a congratulatory message and encouraged him to implement what he promised to maintain peace in the world, to end conflicts," noting that "life will not be easy, especially in our region, where we have conflicts in Syria, in Palestine, and we have problems in Lebanon, in Yemen, in Sudan, and in Somalia."
https://www.mawazin.net/Details.aspx?jimare=260136
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