Latest news with #MohammedAl-Hassani
Shafaq News
17-03-2025
- Business
- Shafaq News
Iraq excluded from Economic Freedom Index due to 'inadequate' transparency
Shafaq News/ On Monday, Iraq was excluded for the second consecutive year from the 2025 Index of Economic Freedom, published by the US-based conservative think tank Heritage Foundation. According to the annual report—which evaluated economic conditions in 184 countries from July 2023 to June 2024—Iraq was one of eight countries not ranked globally because of 'inadequate transparency and incomplete economic data,' alongside Afghanistan, Libya, Somalia, Syria, Yemen, Liechtenstein, and Ukraine. Economist Mohammed Al-Hassani attributed Iraq's exclusion mainly to a 'lack of government transparency and incomplete data in critical areas, notably fiscal health, labor freedom, government spending, monetary freedom, and property rights.' Globally, Singapore ranked first on the 2025 Economic Freedom Index with 84.1 points, followed by Switzerland (83.7), Ireland (83.1), Taiwan (79.7), and New Zealand (78.9). In the Arab world, the UAE led with 71.6 points, followed by Qatar (70.2), Bahrain (65.6), Oman (65.4), and Saudi Arabia (64.4). The annual index assesses economic openness of countries based on twelve indicators grouped under four categories: rule of law, government size, regulatory efficiency, and market openness. Scores range from zero to 100, categorizing economies from "free" to "economically repressed."
Shafaq News
24-02-2025
- Business
- Shafaq News
Expert: Iraq's dollar exchange rate drop temporary
Shafaq News/ The recent decline in the exchange rate of the US dollar against the Iraqi dinar is only "temporary," according to economic expert Mohammed Al-Hassani, who expects prices to return to previous levels soon. Al-Hassani attributed the market fluctuations to traders "taking advantage of false speculation and unverified reports to artificially influence demand for the dollar," noting that the gap between the official exchange rate set by the Central Bank of Iraq and the parallel market remains wide—exceeding 17,000 to 18,000 dinars. Analysts highlight currency controls, delays in foreign transactions, and Iraq's ongoing reliance on dollar-based imports as "key factors maintaining this disparity," limiting the central bank's ability to stabilize the market, forcing businesses to turn to the parallel market at inflated rates. Over the past week, the exchange rate in Iraqi local markets fell from 150,700 dinars per 100 US dollars to 149,300 dinars.
