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 alliance of Shi'ite political blocs, the Coordination Framework, on Monday named Ali al-Zaidi as its nominee for the post of prime minister, said a coalition statement.
Iraqi President Nizar Amedi and Ali al-Zaidi, the nominee of Iraq's Shiite Coordination Framework for prime minister, stand with political figures during a ceremony where Zaidi was tasked with forming a new government, in Baghdad, Iraq, April 27, 2026. Iraqi President Media Office/Handout via Reuters
Iraq's alliance of Shi'ite political blocs, the Coordination Framework, on Monday named Ali al-Zaidi as its nominee for the post of prime minister, said a coalition statement.
Iraq's President Nizar Amedi invited Zaidi on Monday evening, the nominee of the largest parliamentary bloc known as the Coordination Framework, an alliance of Iran-aligned factions, to form a government, Shi'ite lawmakers told Reuters.
Zaidi, in his 40s, is an Iraqi multimillionaire with interests spanning several sectors, including banking and the supply of Iraq’s vast government food basket programme that serves millions of people.
Under Iraq's constitution, Zaidi now has 30 days to form a cabinet and present it to parliament for approval.
Under a power-sharing system designed to avoid sectarian conflict, Iraq's president is a Kurd, its prime minister a Shi'ite and its parliament speaker a Sunni.
Reporting by Ahmed Rasheed, Menna Alaa El-Din and Muhammad Al Gebaly
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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