Iraq advances one place in global gold reserves
The World Gold Council announced on Sunday that Iraq has advanced one rank in the ranking of countries that hold the most gold in the world.
According to the latest table published by the Council in February, which Shafaq News Agency reviewed, Iraq ranked 28th out of 100 countries included in the table, after it was ranked 31st globally, to become fourth in the Arab world after Saudi Arabia, Lebanon and Algeria.
According to the table, Iraq increased its gold holdings to 162.7 tons, representing 12.7% of its total other reserves.
The Council pointed out that “the United States of America tops the list of the largest gold holders in the world, as it owns 8,133 thousand tons, followed by Germany with 3,351 thousand tons, then Italy with 2,452 thousand tons, while Trinidad and Tobago came at the bottom of the list with 1.9 thousand tons.”
The World Gold Council, headquartered in the United Kingdom, has extensive experience and in-depth knowledge of the factors influencing market changes, and its members include the world’s largest and most advanced gold mining companies.
Al-Sudani: The door is open for Kuwait to enter into development projects
Prime Minister Mohammed Shia Al-Sudani called on Sunday on the State of Kuwait to invest in vital development road projects in Iraq.
This came during his meeting today in Baghdad with the Kuwaiti Ambassador to Iraq, Hassan Mohammed Al-Zaman.
Al-Sudani pointed out, according to a statement issued by his media office, the depth of relations between the two countries, and the importance of consolidating and expanding them at various levels and stages.
During the meeting, the Prime Minister stressed his aspiration to strengthen constructive bilateral cooperation in several fields, pointing to the available opportunities and the availability of an appropriate investment environment for the work of Arab and foreign companies, including Kuwaiti companies.
The statement quoted Al-Sudani as saying that the door is open for the State of Kuwait to enter into development projects and benefit from the announced investment opportunities, which contributes to strengthening economic integration and interconnected interests between the two countries.
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Path project, as the four countries will work to establish the necessary frameworks for implementing the project, according to a statement issued by the Prime Minister’s Office.
The strategic project of the development road is expected to contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between the East and the West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It is worth noting that the “Development Road” project is a land and railway road extending from Iraq to Turkey and its ports. The length of the road and railway is 1,200 kilometers inside Iraq, and it aims primarily to transport goods between Europe and the Gulf countries.
The project’s investment budget amounts to about 17 billion US dollars, of which 6.5 billion is for the expressway, and 10.5 billion for the electric train. It will be completed in 3 phases, the first ending in 2028, the second in 2033, and the third in 2050.
The project is expected to provide about 100,000 job opportunities in the first phase, and one million job opportunities after its completion.
Al-Sudani: Corruption has become like a virus, “mutating and adapting itself”
Under the patronage of Prime Minister Mohammed Shia Al-Sudani, the Internal Control Conference, organized by the Financial Supervision Bureau, was inaugurated Saturday (February 8, 2025), under the slogan “Control is the first line of defense in combating corruption and enhancing transparency.”
A statement by Al-Sudani’s media office stated that Al-Sudani said, “The conference aims to enhance the work of internal oversight and establish transparency in the performance of duty, in commitment to the primary goal of the government program, which is to combat corruption, which is a basic criterion for the citizen’s belief in the system and the political process as a whole, pointing to the importance of internal oversight; as it is the system that corrects the course of the institution’s work and guarantees the prevention of the waste of public money, and it does not mean bureaucracy and obstruction, but rather an honest and transparent path that deals with the law, its spirit and objectives before implementing its instructions.
He continued, saying, “What was issued by the supreme religious authority last November proved the government’s seriousness in making combating corruption a top priority, and that deviating from this path will affect the performance of the remaining requirements in combating unemployment, providing job opportunities, economic reform, and services.”
Highlights of the Prime Minister’s speech:
Internal control is the first line of defense against corruption, to protect the government institution itself and to ensure the integrity of its work.
12 trillion dinars is the total amount spent on service projects for ministries and governorates during the year 2024.
What has been achieved over the past two years has given citizens hope, confidence in the state, and optimism that the country is on the right track.
Corruption has become like a virus, mutating and adapting itself in light of the measures taken by regulatory authorities.
We have put in place decisive solutions in government work with complete transparency and clarity, and within the framework of the law to combat corruption.
We have made the issue of supporting internal oversight and developing its work a top priority in the procedural cycle within the anti-corruption methodology.
Internal audit levels have been raised to general directorates to ensure full empowerment in their anti-corruption work.
We proceeded to create a legal legislation in accordance with the Constitutional Article (108) to regulate the work of the directorates and enhance their independence in performing tasks.
We supported the recommendations of the first anti-corruption conference, most notably strengthening the work of internal control departments with human resources and competencies.
Periodic evaluation of the performance of senior employees is necessary to ensure the effectiveness and performance of government institutions and prevent corruption.
We have directed to expedite the resolution and completion of reports, complaints and criminal cases, within the legally specified time limits.
We emphasize the follow-up of issues related to public opinion, large amounts of corruption and senior state employees, to impose legal penalties on the convicted.
Emphasizing the need to enhance confidence in accountability procedures, to ensure the achievement of general deterrence.
We emphasize the concerted effort to transform integrity into a social culture that disavows corruption and contains it within society.
