Iraq
Iraq devalues dinar
Iraq's central bank devalued the dinar against the dollar on Wednesday, the first time in more than three years, as the economic fallout from the Middle East war deepens.
Iraq's parliament elected Sunni Muslim lawmaker Haibat al-Halbousi as speaker at its opening session on Monday following November's national election, launching a process to form a new government that often takes months.
The entrance of Iraq's parliament building ahead of the first session of the newly elected parliament, in Baghdad, Iraq December 29, 2025. Reuters/Ahmed Saad
Iraq's parliament elected Sunni Muslim lawmaker Haibat al-Halbousi as speaker at its opening session on Monday following November's national election, launching a process to form a new government that often takes months.
A parliamentary statement said Halbousi secured 208 out of a total of 283 votes. The speaker plays a key role in maintaining legislative order, mediating disputes and building consensus in Iraq's sectarian-oriented and often fragmented political system.
Under the Iraqi constitution, parliament must elect a speaker and two deputies at its opening session, then choose a new president within 30 days. The president will in turn task the largest parliamentary bloc with forming a government.
Prime Minister Mohammed Shia al-Sudani's bloc won the most seats in the election. The next government will need to navigate the delicate balance between U.S. and Iranian influence, with dozens of Iran-aligned militia groups complicating the picture.
Reporting by Ahmed Rasheed
Iraq's central bank devalued the dinar against the dollar on Wednesday, the first time in more than three years, as the economic fallout from the Middle East war deepens.
Israelis will on Wednesday mark three years since Hamas attacked Israel on October 7, 2023, triggering a military assault that destroyed much of Gaza, where conditions remain dire despite a year-old ceasefire that is meant to halt the war for good.
Canadian Prime Minister Mark Carney will travel to Ankara and Istanbul from October 21 to 23, his office said on Tuesday, in what will be the first dedicated bilateral visit to NATO ally Turkey by a Canadian leader.
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