Raed al-Maliki warns against mortgaging Iraqi decision-making financially through a proposed sovereign wealth fund financed by the Gulf states.
Raed al-Maliki warns against mortgaging Iraqi decision-making financially through a proposed sovereign wealth fund financed by the Gulf states.
5-31-2026
The former MP, Raed al-Maliki, warned on Sunday of the repercussions of the government’s efforts to establish an Iraqi sovereign wealth fund, potentially financed by some Gulf states. He considered this move a reflection of the magnitude of the financial crisis facing Iraq and one that could restrict its sovereign decision-making.
Al-Maliki stated in a post followed by the Al-Maalomah News Agency that “the Prime Minister, according to some media outlets, informed them in his recent meeting of a request or efforts he made with some Gulf states to persuade them to invest $50 billion in an Iraqi sovereign wealth fund. We do not know if this is the same as the Generations Fund mentioned in the government program or a sovereign wealth fund with a different name.”
He added that talk of establishing a sovereign wealth fund raises many questions given the country’s current financial situation, noting that the government resorts to borrowing monthly from the Central Bank and other sources to secure employee salaries, while sovereign wealth funds are usually established based on financial surpluses and national revenues, not on foreign loans or deposits.
He pointed out that “this confused and baseless step reflects the magnitude of the financial predicament Iraq is facing. One of its dangers, if implemented, is that Iraqi sovereignty will be financially mortgaged from two sides: the Americans, who still control oil revenues and dollar inflows, and the Gulf states, which will become creditors and wield greater influence over Iraqi decisions. The UAE’s debt to Egypt is a case in point.”
Al-Maliki expressed his astonishment at the current situation, asking, “Is it conceivable that we would relinquish the sovereignty and will for which we sacrificed the most precious and sacred blood… because of the consequences of corruption?”
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