AGP Executive Report
Last update: 7 hours agoCurrency Shock: Baghdad raised the official dollar rate from 1,320 to 1,520 dinars, a nearly 15% devaluation as war-related oil disruptions strain state finances. The move jolted markets and left Iraqis uncertain whether to buy or sell dollars. Security After US Exit: With US forces gone, Baghdad faces pressure to bring armed factions under state control. Prime Minister Mohammed Shia al-Zaidi says five groups have agreed to disarm, while an ISIS attack near Kirkuk killed a police officer and Iraqi forces arrested a suspected ISIS leader. Budget Pressure: Iraq’s 2027 budget assumes oil at $58 a barrel and carries a projected $48.8 billion deficit. Baghdad and the Kurdistan Region are also discussing budget and salary issues. Oil Routes: Iraq has shipped two million barrels through the Strait of Hormuz and is seeking more tankers as shipping risks threaten its main source of state income. Connectivity and Trade: Qatar and Iraq agreed to establish a joint business council, with talks covering investment opportunities linked to the $250 billion Development Road project. Ooredoo’s OFN and iQ Networks also signed a deal to expand fibre connectivity through Iraq toward Türkiye and Europe.
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