Iraq Drops the Borrowing Law
Iraq drops its borrowing law, the last cabinet chairs get names, and the IQD devaluation headline falls apart when you read past the title.
Monday, October 5. Over the weekend the chairman of parliament's Finance Committee announced that the borrowing law is no longer needed. That is the bill the government has been asking for since the summer to keep salaries and projects funded. The 2027 budget will carry what that law was meant to cover.
That same Sunday, Prime Minister Ali al-Zaidi met Finance Minister Faleh al-Sari and the governor of the CBI, and ordered 3.5 trillion IQD released into the economy. The names for the last empty seats in his cabinet also began reaching his desk.
So the two gates this channel has tracked for months both moved inside 48 hours. The cabinet has names. And the money questions that used to be spread across several bills now sit in one document, the 2027 budget. It has to reach parliament by October 15, and it has to state the IQD rate it is built on.
Late on Sunday night one more story arrived, and it is the one your phone is full of this morning: a claim that Iraq is about to devalue. We will get to it, and we will take it apart. First, what Baghdad actually did.
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