Turkey’s central bank has once again surprised the markets. On July 24, it reduced its benchmark interest rate from 46% to 43%, marking a notable turn back to an easing cycle amid persistent inflation and currency volatility. This decision carries significant implications not only for Turkey’s domestic economy but also for neighboring regions that are economically intertwined with it, such as the Kurdistan Region.

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Kurdistan Region President Nechirvan Barzani on Thursday met with Brigadier General Kevin Lambert, the new commander of the US-led Global Coalition to Defeat the Islamic State (ISIS), to discuss the ongoing threat posed by the group and the evolving security situation in Iraq and Syria.

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The 12-day Israel–Iran war stands as one of the most consequential events of the first quarter of the 21st century, with the potential to reshape both the economic landscape and the political-security dynamics of western Asia. Much like the Six-Day Arab–Israeli War of 1967, which extended beyond mere territorial occupation, the 12-day conflict between Iran and Israel was not solely about missile exchanges and nuclear ambitions.

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In late May 2025, the Federal Government of Iraq’s Ministry of Finance issued an official letter claiming that the Kurdistan Region’s total expenditures - including public servant salaries - had been fully covered for the year, despite only having disbursed funded for four months. The Ministry’s conclusion was reached based on adding and subtracting three years’ worth of the Kurdistan Region's budget share, as well as tallying Iraq’s total debt from 2015 to the present, essentially reducing a complex fiscal relationship to a numerical justification for cutting the Region’s budget.

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