Iraqi Minister Says Government Printed 25 Trillion Dinars to Counter Crisis

BAGHDAD, Iraq — Iraqi Foreign Minister Fuad Hussein said Tuesday the government has printed 25 trillion dinars to address financial pressures, a move that raises Iraq's nominal financial capacity to 125 trillion dinars. The Central Bank has not yet announced the measure publicly. Hussein warned that printing money will not resolve the crisis and could instead fuel inflation, affecting market prices and purchasing power. He said salaries are currently being financed through reserves, domestic borrowing, and debt, while government revenues remain insufficient. The minister also flagged the potential impact of the Strait of Hormuz remaining closed, saying it could intensify economic pressure and complicate salary payments. He warned that if the conflict extends until the end of 2026, the financial crisis could deepen further. Iraq's economy remains heavily dependent on oil, with monthly financing needs estimated at approximately 9 trillion dinars.