Iraqi Dinar Currency KRG New Visa Requirements for US Citizens Latest News Week 2/19 to 2/23
An Iraqi customer exchanges US dollars for stacks of Iraqi dinar in the main Shurja market in central Baghdad, Iraq. Photo: Hadi Mizban/AP
The US dollar exchange rate against the Iraqi dinar increased slightly in Baghdad and remained stable in Erbil on Wednesday. The US dollar exchange rate rose with the closure of Baghdad’s Al-Kifah and Al-Harithiya stock exchanges, where the US dollar exchange rate reached 1523 dinars compared to 1522 dinars on Wednesday morning. Read more
Iraqi Port Fees Increase for Year 2023
In January, the General Company for Iraqi Ports (GCIP) reported that revenue at commercial and oil ports was more than 74.5 billion Iraqi dinars, a "significant increase" compared to January last year; he did not specify the size of the increase.
Dr. Farhan Al-Fartousi added that Umm Qasr North Port generated revenues exceeding 31 billion Iraqi dinars, while Khor Al-Zubair Port generated revenues of 14.2 billion Iraqi dinars. 6.2 billion Iraqi dinars were generated by Umm Qasr South Port, and 825 million Iraqi dinars were generated by Abu Flus Port.
At oil ports, guidance, escorting, docking, departure, and mooring revenues exceeded 22 billion Iraqi dinars.
US Citizens Can Now Enter Iraq's Kurdistan Region with Only a US Passport (Excellent News)
As a result of a recent move by the Kurdistan Regional Government's Ministry of Interior, citizens from 53 countries will be able to enter the Kurdistan Region without a prearranged visa.
As a result of this new policy, eligible travellers need only present their passports at any border entry point to receive an electronic visa, which allows them immediate access to the region.
This visa exemption applies to a wide range of countries, including Albania, Australia, Austria, Bahrain, Belgium, Brazil, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia and several others such as Finland and France. Additionally covered are Germany, Greece and Hungary along with Iceland. For further details on this list of exempt countries please refer to the full list which includes Iran and Ireland; as well as Italy and Japan. Jordan is also included alongside Kuwait and Latvia. Other countries on the list include Lebanon and Liechtenstein; followed by Lithuania and Luxembourg; plus Malta and New Zealand. Additionally Norway is listed along with Oman; Poland; Portugal; Qatar and Romania. Russia also enjoys this exemption; along with Saudi Arabia; Slovakia; Slovenia and South Korea. This special exemption also includes Spain; Sweden as well as Switzerland together with Turkey. Vatican City is also part of this list in addition to the Netherlands followed by both the United Arab Emirates and the United Kingdom as well as the United States of America.
In order to be eligible for entry, applicants must ensure their passports are valid for at least six months.
Iraq Comes in Second as the Country Most Dependent on Oil
This is the warning that the IMF - International Monetary Fund has consistently addressed. Among the countries most at risk from oil supply, Iraq ranked second after Kuwait.
The impact of conflict in the Gulf and the Middle East on major oil and gas producers was examined in a report by Energy Intelligence.
Due to its heavy reliance on oil revenues and its fragile economic foundations, Iraq is the second-largest country in the Middle East vulnerable to oil supply risks.
In spite of the fact that the economies of the Gulf are all dependent on oil and gas, some of them are less diversified than others, which means that their governments are heavily dependent on these resources for funding.
Among Middle Eastern nations that heavily rely on oil, Iraq and Kuwait account for 87 percent and 88 percent of their GDP, respectively.
President of VISA CEMEA Region Thanks Iraq for Advancing Electronic Payment Technology
Prime Minister Mohammed Shia Al-Sudani expressed his government's commitment to economic and banking reform on Thursday.
Al-Sudani's media office reported that the prime minister received Andrew Torre, Visa's regional president for the CEMEA region, to thank him for advancing electronic payment technology.
