Iraq Forms Government Amid Crisis

The government of Ali Al-Zaydi in Iraq is moving forward with completing its ministerial formation amid a severe financial crisis. Parliament approved 11 ministerial portfolios and three deputy prime minister positions, including Laysh al-Khazali, a leader of the "Asa'ib Ahl al-Haq" movement, which is supported by Iran and on whom American sanctions have been imposed along with his brother. The country is facing an economic decline due to falling oil revenues and disruptions in exports through the Strait of Hormuz, with the Iraqi dinar losing 15% of its value. Additionally, the government has inherited debts exceeding 208 trillion dinars (approximately $139 billion) and needs around 10 trillion dinars monthly to cover salaries and expenses. Al-Zaydi has pledged to fight corruption, restrict weapons to the state, and complete the withdrawal of American forces.

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