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The economic advisor to the Iraqi government, Mazhar Mohammad, confirmed that Iraq has paid off every loan it had received from the International Monetary Fund (IMF) in 2003 and 2021.  He highlighted that the IMF provided Iraq with just $8 billion to assist macroeconomic stability and financial reforms, according to the Iraqi News Agency (INA).   The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh told reporters that in 2003 and 2021, Iraq bought several economic shipments from the IMF, including urgent loans and long-term monetary support.  A $5.34 billion funding package was authorized by the IMF in 2016 to help Iraq's economic reforms and fight against ISIS. At that time, the majority of the Iraqi and Syrian area was captured by ISIS, thus the Iraqi government had applied for a loan from the IMF to counter Islamic state.  Haider Jawad Kadhim al-Abadi declared victory against the Islamic State of Iraq and Syria (ISIS) in July 2017, w...

On Thursday morning, the Islamic Republic of Iran's Navy captured an American oil ship in the Sea of Oman. A court ruling resulted in the seizure of the US oil ship as retaliation for the US government's 2023 takeover of Iranian oil.  On September 8, 2023, the US Department of Justice reported that it had captured the Marshall Islands-flagged ship Suez Rajan and its cargo of 980,000 barrels of crude oil off the coast of Texas. Later on Thursday, reports said the US oil ship that was seized would be moved to the ports of the Islamic Republic of Iran. As per the US Department of Justice, Suez Rajan was delivering Iranian oil to China in April, in contravention of Washington's sanctions against Tehran.  However, reports are saying that Iran captured a ship carrying Iraqi petroleum that was bound for Turkey.  

An automobile packed with local member of parliament  (MP)   relatives was attacked with bullets and a roadside improvised explosive device (IED), killing up to ten people and injuring 14 more.   Two security official sources told Reuters that the attack in the town of Amraniyah began with the detonation of two roadside bombs that crushed a vehicle carrying several people and was directed towards the relatives of a nearby MP.   According to the reports, locals who had come to the site to help were then targeted with gunshots.   They did not elaborate on possible reasons for the assault.   Security officers issued a curfew for the area on Thursday night and stated they were still searching for its perpetrators.   The incident happened before the province council elections, which will determine the governors, on December 18.  The minibus was hit "by two homemade bombs on its return from an electoral meeting," according to a source in the interior mi...

Iraqi Foreign Minister Fuad Hussein said Iraq values ​​the continued strong ties between the Islamic Republic of Iran and Saudi Arabia.  Iraq's top diplomat made the remarks at a joint press conference with Jassem Mohammed Albudaiwim, Secretary General of the Persian Gulf Cooperation Council (PGCC), after their meeting in Baghdad on Monday. "Iraqi foreign policy is aimed at strengthening and expanding relations with neighboring countries, and in this respect, we have strengthened our relations with the Arab countries of the Persian Gulf," the official added.  Highlighting  Iraq's contribution to enhancing collective security in the region, Hussein said: "Strengthening security in the region is a collective matter and we can see the results of relations between the Arab countries of the Persian Gulf and neighboring Iran. " Türkiye and Iraq played an important role. played a part in that.” "While on the meeting, we emphasized that ensuring security in the...

 Iraqi Prime Minister Mohammed Shia Al-Sudani on Thursday ordered the withdrawal of the Iraqi attorney general in Stockholm and the expulsion of the Swedish ambassador to Iraq, the Iraqi media reported.  On Thursday, the Iraqi government released a blistering statement, threatening to terminate diplomatic ties with Sweden if the Quran burnings continued.  The Iraqi government claimed in a statement that it had warned the Swedish government of its determination to terminate diplomatic ties if the Quran burning occurred again.  The decision was reached during an emergency meeting of senior military and security officials on Thursday morning, led by Iraq's prime minister, to address the Swedish government's approval to be granted to a person to subsequently burn sacred books in the Swedish capital, Stockholm. During the discussion, the burning of the Swedish embassy in Iraq was also highlighted.  The conference denounced the cleric Muqtada al-Sadr's supporters...

As reported by Oilprice.com, the Iraqi government's Oil and Gas Committee plans to expand the country's oil output to more than five million barrels per day (bpd), however, Iraq has the ability to increase oil production to 13 million barrels per day (bpd).  As per the committee meeting minutes released last week, Iraq's parliamentary committee on oil and gas intends to increase the country's oil production to more than five million bpd.  Iraq can easily achieve this and, if managed properly, serve as a springboard for the next increase in oil production to 13 million barrels per day (bpd), as outlined in a new book on the new global oil regime.  This move would make Iraq the world's largest oil producer. Overall, Iraq is the largest largely undeveloped oil region in the world. Officially, the Energy Information Administration (EIA) estimates that there are proven crude oil reserves of 145 billion barrels (nearly 18 percent of the Middle East's total reserves an...