Seeds of Wisdom RV and Economic Updates Monday Evening 1-13-25

Good Evening Dinar Recaps,

FILIPINO BANKS PLAN TO LAUNCH MULTI ISSUER STABLECOIN PHPX ON HEDERA DLT

Later this year several Filipino banks are planning to launch a multi bank peso stablecoin, PHPX, which will initially operate on the Hedera DLT network. The banks include the UnionBank of the Philippines, Rizal Commercial Banking, Cantilan Bank and the Rural Bank of Guinobatan. 

Singapore startup Just Finance is the initiator, but the banks will have a significant role in the governance. Given a key goal is cross border payments, the plans include more than just a stablecoin. There’s a need to exchange stablecoins in different currencies.

UnionBank, or more specifically its fintech spin off UBX, has been involved in blockchain for years including managing a quasi stablecoin network, albeit in a closed loop system.

In 2018 it set up a token-based automated clearing house (ACH) to enable payments for rural and community banks that were not members of the national retail payment system (NRPS) to funnel them via UnionBank.

That system uses a permissioned version of Ethereum and the more-or-less invisible backend token is PHX, not to be confused with PHPX the planned new stablecoin.

While the ACH has served its purpose, it’s time to take the next step. “We need to create something that is publicly exchangeable, so that we can support use cases outside of our own closed loop ecosystem,” said John Januszczak, UBX CEO, during an interview with Ledger Insights. He also wants to support stablecoins beyond that created by UBX.

Hence, when David Inderias and Mikko Perez from Just Finance approached UBX with the concept for PHPX, Mr Januszczak was open to it.

While it’s not the only use case, cross border payments are top of the list, particularly for remittances.

Filipino stablecoin remittances

Inbound remittances from people working abroad are a critical source of funds in the Philippines. According to the World Bank, the country is the fourth largest recipient of remittances which totaled $40 billion in 2024, representing around 10% of the country’s GDP.

Some of the stablecoin goals are basic. “The speed of payments has not kept up with the speed of commerce,” said Mr Januszczak. “As the operator of a payments network, it’s not about the technology, it’s about that fundamental problem.”

He noted that the people doing the work abroad have limited control over how their hard earned cash is spent. They often send the money to someone in the Philippines who looks after the bills.

“We want Filipinos that are earning money in the US (or elsewhere) to be able to pay their kids’ school tuition directly from the United States (and) for that payment to be affected in real time,” said Mr Januszczak. 

“We want to open up the opportunity for people to contribute to insurance policies and wealth products from overseas. So not just vanilla, pedestrian remittances, but remittances that give back that control.”

For the banks involved, the stablecoins will often be abstracted in the backend, so the customer simply chooses to send $500 rather than being aware of the stablecoin details. The $500 is exchanged for PHPX or another stablecoin in the background. From there it can be deposited into a bank account, a G Cash wallet or for cash pickup at an over the counter location. Hence, banks will provide seamless on and off-ramping.

Ultimately, consumers could have direct access to PHPX, but that would be subject to regulator approval.

Stablecoins and FX

To enable cross border payments, part of the plan is to create a multi currency stablecoin exchange. Given cross border payments will involve swaps of foreign currency stablecoins in USD, SGD or JPY with PHPX, that requires liquidity providers who can earn a yield. It also will have to be regulatory compliant. 

At launch it’s likely the banks or those implementing use cases will take on that role. But in a decentralized environment, that could open up over time, involving qualified investors as liquidity providers in the Philippines.

A safe PHPX stablecoin design

Turning to the stablecoin, Mr Inderias from Just Finance emphasized quality and compliance.

With a multi issuer token, the big question is what happens if a bank goes bust? Most of the stablecoin reserves will be held in segregated bank trust accounts which will hold government bonds, with a small cash balance for short term settlement. The trust accounts are ring-fenced rather than part of the general liability of the bank. Hence, if a bank fails, the stablecoin is bankrupt remote (provided the money hasn’t disappeared because of fraud). Given that Just Finance doesn’t hold the cash, the stablecoin should also be safe if it ran into trouble.

As a bank stablecoin, another challenge is compliance with Basel Committee crypto-asset rules. If stablecoins are classed with other cryptocurrencies (Group 2) that could get expensive for banks to hold them. In the latest Basel iteration, to qualify as a Group 1b (low risk) stablecoin the DLT network has to be permissioned, which is the reason for choosing the Hedera DLT as the initial network.

Another requirement to satisfy the Bangko Sentral ng Pilipinas (BSP) is for any coins the system interacts with to comply with the EU’s MiCAR regulations or regional equivalents.

Meanwhile, a key advantage of stablecoins over bank payments, is they don’t require interbank settlement. In the Philippines, the main National Retail Payment System (NRPS) limits payments to around $1,000 to manage risks. That’s because while the banks credit recipients almost immediately, the interbank settlement is not real time.

By contrast, the existing closed looped clearing house operated by UBX has been using blockchain for years, minting and burning tokens which are backed by reserves. Hence, it has already seen the benefits of stablecoin-style payments, where clearing and settlement don’t involve separate steps.

Getting to launch

The central bank is going to have the last say about when the solution goes live, with the earliest launch date between May and July this year.

Mr Inderias emphasized that the goal of PHPX isn’t purely for remittances. He also envisages larger cross border payments for trade and the potential domestic use of the stablecoin at point of sale (POS). But before that can even be considered, the first step is getting bank applications live.

“If and when we go to retail, we’ll do that in a measured way under the purview of the regulator,” he said.

@ Newshounds News™

Source:  Ledger Insights

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US BANKS CAN HOLD BITCOIN AND CRYPTO UNDER INCOMING TRUMP EXECUTIVE ORDER: REPORT

President-elect Trump will issue an executive order effectively allowing banks and financial institutions to hold Bitcoin (BTC) and crypto assets on behalf of their clients, according to a new report.

The incoming order will reverse a regulatory guideline that has shaped how financial institutions account for and custody digital assets, reports the Washington Post

“…Trump is expected to issue executive orders on the first day of his presidency that may address issues including “de-banking” and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet, according to a person involved with the conversations.”

The expected executive order is designed to reverse SAB 121, an SEC guideline that requires certain financial entities to list even the crypto assets they hold on behalf of customers as liabilities.

Crypto proponents say the guideline blocks financial institutions’ ability to enter the digital asset arena.

A bill aiming to eliminate SAB 121 recently passed both the House and the Senate, but President Biden vetoed the bill.

@ Newshounds News™

Source:  DailyHodl

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COINBASE SCORES ANOTHER WIN AGAINST 'ARBITRARY AND CAPRICIOUS' SEC ORDER

A panel of Third Circuit federal judges ruled the SEC must explain its lack of crypto rulemaking—but stopped short of ordering the agency to create such regulations.

A panel of federal appeals court judges in Philadelphia dealt another blow to the SEC’s crypto regime on Monday, emerging as the latest prominent court to question how the federal agency has navigated its regulation of digital assets.

The U.S. Court of Appeals for the Third Circuit ruled today in favor of Coinbase, which sued the SEC last year over the agency’s refusal to explicitly lay out its crypto policy. Instead of putting forth crypto-specific rules, the SEC has instead sporadically sued crypto firms over the last six-odd years in a pattern that has been disparagingly dubbed “regulation by enforcement.”

Today a three-judge panel, comprised of two Democrats and one Republican, ruled that the SEC’s dismissive response to Coinbase’s request for crypto-specific rulemaking was unacceptable.

“Because we believe the SEC’s order was conclusory and insufficiently reasoned, and thus arbitrary and capricious, we grant Coinbase’s petition in part and remand to the SEC for a more complete explanation,” today’s order reads.

The judges added that they declined, however, to force the SEC to create crypto-specific rules, as Coinbase had requested.

According to Judge Thomas Ambro, a Clinton-era Democrat who wrote Monday’s opinion, previous case law established that an agency like the SEC could only be forced to create rules against its will if an extreme delay in creating those rules “endangered human lives”—a requirement clearly not met by crypto-related regulations.

So the SEC doesn’t have to issue new crypto rules now, but it must explain to Coinbase in much greater detail why it has, thus far, refused to do so.

“Rather than force the agency to make a rule, we order it to explain its decision not to,” Judge Stephanos Bibas, a Republican appointed to the court by Donald Trump, wrote Monday in a concurring opinion. “Indeed, a rule may not prove necessary to solve the problems here; the agency could just state its position on crypto assets unequivocally.”

@ Newshounds News™

Source:  Decrypt

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CARDANO & RIPPLE TO PARTNER? ADA EYES RLUSD INTEGRATION

A cooperation that would see two of the industry’s most prominent networks team up, both Cardano (ADA) and Ripple are reportedly discussing a partnership that would include the latter’s recently launched Ripple USD (RLUSD) stablecoin. Indeed, the discussions were confirmed in a recent post to X (Foermly Twitter) by Cardano founder Charles Hoskinson.

The asset has had a rather slow start to the year despite immense promise. However, that is widely expected to turn around. Moreover, with both ADA and XRP projected to make headway in the coming months, a partnership could ensure their prices skyrocket together.

Charles Hoskinson Confirms Talk to Bring Cardano and Ripple Together

2025 may be set to be a big year for Cardano and Ripple, as both companies look to build off of a momentous final two months to last year. Moreover, the two sides are reportedly engaged in talks, according to the former’s founder. The discussion centers around the promising Ripple stablecoin debut that would bring about an RLUSD integration.

Charles Hoskinson went as far as to confirm that discussion was taking place. However, he did not elaborate on what exactly was discussed between both sides. Yet, if it comes to fruition, it would be a game-changer for ADA, the native token on the Cardano network.

The cryptocurrency has certainly struggled since the start of the year. Over the last seven days, ADA has fallen more than 16%, according to CoinMarketCap. Moreover, the asset’s 13% drop in the last 30 days has it trading under the $1 mark. However, the token is not expected to remain this year, as it is projected to have a monumental year ahead.

According to cryptocurrency price prediction platform CoinCodex, Cardano will retake the $1 mark in January and then some. Indeed, analysts project the token to end January with a high price of $1.8, providing a potential ROI of more than 101%.

That isn’t all, as the asset is expected to build off of that success. Specifically, the platform projects ADA to reach the $2 mark in February, reaching heights of $2.50, with a 174% potential jump, by the end of the year’s second month.

With $3.9 yearly highs projected, Ripple and RLUSD stablecoin integration would help the network reach these marks. Moreover, they could help them exceed them, rewriting the potential it had entering the year.

@ Newshounds News™

Source:  Watcher Guru

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Iraq Economic News and Points to Ponder Monday Afternoon 1-13-25

Iraq's Oil Exports To The United States Reached About 80 Million Barrels In 10 Months

Economy  | 01/13/2025  Mawazine News – Baghdad  Iraq's exports of crude oil and its derivatives to the United States amounted to nearly 80 million barrels during 10 months of last year 2024.

The US Energy Information Administration stated that "Iraq's exports of oil and its derivatives during 10 months of last year amounted to 79 million and 416 thousand barrels."

It added that "Iraq exported about 6 million and 890 thousand barrels of oil and its products during October, down from 9 million and 625 thousand barrels in September."

It continued, "The total crude oil exported from Iraq to America for October amounted to 5.190 million barrels, while the remaining 1.700 million barrels were oil derivatives, including 1.695 million barrels of non-condensed oils and five thousand barrels of remaining fuel oil." https://www.mawazin.net/Details.aspx?jimare=258520

The Percentage Of Foreign Remittances In Dollars In The Sales Of The Central Bank Of Iraq Increased To More Than 93%

economy | 04:45 - 01/13/2025   Mawazine News – Economy  The Central Bank of Iraq's currency auction, on Monday, witnessed a high percentage of foreign remittances, reaching 93.3% of total sales, with the participation of nine banks.

According to the bank's statement, total sales in the auction amounted to 289 million, 734 thousand, and 323 dollars, at a basic exchange rate of 1310 dinars per dollar for documentary credits, international settlements for electronic cards, and foreign remittances, while the cash exchange rate amounted to 1305 dinars per dollar.

Most of the amount, worth 270 million, 848 thousand, and 323 dollars, was allocated to enhance balances abroad in the form of remittances and credits, while cash withdrawals amounted to 18 million and 850 thousand dollars.

Only one bank participated in purchasing cash dollars, while eight banks met requests to enhance foreign balances, and the auction witnessed the participation of 29 exchange companies in the operations.   This trend reflects an increasing reliance on enhancing foreign balances through remittances, which reflects the current dynamics of the cash market in Iraq.
https://www.mawazin.net/Details.aspx?jimare=258536

Gold Prices Stabilize In Baghdad

Economy | 01/13/2025  Mawazine News – Baghdad  The prices of Iraqi and foreign gold stabilized in the local markets in the capital, Baghdad.

- The price of gold in the wholesale markets on Al-Nahr Street in the capital, Baghdad, reached 570 thousand dinars for one mithqal of 21 karat Gulf, Turkish and European gold, and the purchase price was 566 thousand dinars.

- The selling price of one mithqal of 21 karat Iraqi gold was recorded at 540 thousand dinars, and the purchase price was 536 thousand dinars.

- The prices of gold in goldsmiths' shops, with the selling price of one mithqal of 21 karat Gulf gold ranging between 570 thousand and 580 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 540 thousand and 550 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=258516

Oil Prices Continue To Rise, Brent Crude Exceeds $80 Per Barrel

Economy | 13/01/2025   Mawazine News – Economy   Oil prices rose for the third consecutive session on Monday evening, after the price of Brent crude exceeded $80 per barrel, recording its highest levels in more than 4 months, supported by expectations of the impact of major US sanctions on the Russian oil sector and the expected effects on exports to China and India, the major importers of crude.

Brent crude futures were up 71 cents, or 0.9%, at $80.47 a barrel by 1424 GMT, after hitting an intraday high of $81.68, the highest since Aug. 27, 2024.

U.S. West Texas Intermediate (WTI) crude was up 94 cents, or 1.2%, at $77.51 a barrel after touching a high of $78.58, the highest since Aug. 15, 2024.

Brent and WTI have jumped about 6% since Jan. 8, and rose on Friday after the U.S. Treasury Department imposed new sanctions on Russian oil producers Gazprom Neft and Surgutneftegaz, as well as 183 tankers that ship Russian oil, targeting revenues Moscow uses to fund the war in Ukraine. https://www.mawazin.net/Details.aspx?jimare=258559

Al-Halbousi Discusses With US Deputy Assistant Secretary Of State Strengthening Bilateral Relations Between The Two Countries

Monday 13 January 2025 19:30 | Politics Number of readings: 125   Baghdad / NINA / The head of the Progress Party, Mohammed al-Halbousi, discussed with the US Deputy Assistant Secretary of State for Middle Eastern Affairs, bilateral relations between the two countries.

His media office said in a statement, "The head of the Progress Party, Mohammed al-Halbousi, received today, Monday, the US Deputy Assistant Secretary of State for Middle Eastern Affairs, Victoria Taylor. The statement added He continued, "The meeting also discussed developments in the region, and strengthening regional and international efforts to restore security and stability in the region. / End https://ninanews.com/Website/News/Details?key=1179865

Iraqi Stock Exchange Closes Down 1.73%

Stock Exchange  The Iraqi Stock Exchange closed on Monday down 1.73% after yesterday's gains.  The stock exchange traded 1.99 billion shares, worth 2 billion dinars, in 47 companies.

The United Bank of Iraq share achieved gains of 20%, reaching 0.06 dinars, followed by Gulf Insurance by 3%, while Middle East Bank lost by 12.5%.

The banking sector was the most traded, with 1.3 billion shares traded, worth 1.48 billion dinars.

Foreign investors bought 10.2 million shares worth 42.49 million dinars in the shares of the Bank of Baghdad, Gulf Commercial Bank, Al-Amin Insurance, Metal Industries and Bicycles companies, while they bought 20.5 million shares in the Baghdad Soft Drinks Company. 129 views 01/13/2025 - https://economy-news.net/content.php?id=51898

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-13-25

Good Afternoon Dinar Recaps,

RIPPLE XRP AND BANK OF AMERICA: BIG CLAIMS, FEWER ANSWERS

▪️Ripple XRP integration at Bank of America sparks debate, with claims remaining unverified.

▪️Bank of America files 83 patents tied to Ripple blockchain, fueling XRP adoption speculation.

▪️XRP price rises 3.39% amid rumors of BoA’s blockchain use, with $2.89 as key resistance level.

Recent claims about Bank of America (BoA) using Ripple’s XRP for internal transactions have sparked heated debate within the financial and cryptocurrency sectors. While the bank’s potential use of XRP could signal a major shift in digital payments, these assertions remain unconfirmed, marking caution necessary.

Unverified Claims and Historical Context

David Stryzewski, CEO of Sound Planning Group, made headlines during a FOX Business interview on January 6, 2025, by stating that BoA has integrated XRP for all its internal transactions. He also revealed that BoA has filed 83 patents related to Ripple’s blockchain technology, demonstrating a considerable investment in the infrastructure that supports digital payments.

However, despite this bold claim, Bank of America has not issued an official confirmation. Historical records show that BoA has been exploring blockchain solutions for years. For example, in 2017, the bank filed a patent for a real-time settlement system that referenced a “ripple” distributed ledger without explicitly naming XRP. This action suggests an ongoing interest in decentralized technology but raises questions about its current adoption practices.

Technical Analysis and Market Sentiment

Market reactions reflect the news, with XRP trading at $2.41, a 3.39% daily increase. Analysts have identified a critical resistance level at $2.89 and support near $2.00, creating key zones for traders to monitor. Bullish sentiment has surged due to the potential for broader institutional adoption, but skeptics urge caution because of the lack of official statements.

Broader Implications and Future Outlook

If Stryzewski’s claims are accurate, this development could set a precedent for cryptocurrency adoption in traditional banking systems. RippleNet, where BoA is a governance member, shows the growing collaboration between financial institutions and blockchain solutions. Still, the absence of verifiable evidence highlights the importance of relying on official updates for a clear understanding.

Meanwhile, the XRP community remains optimistic, driven by Ripple’s recent achievements, such as the launch of the RLUSD stablecoin. This milestone, along with XRP’s increasing adoption, underscores the asset’s growing role in global finance.

@ Newshounds News™

Source:  Coin Edition

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XRP LEDGER UPGRADE: IMPORTANT CHANGES YOU MUST KNOW

The XRP Ledger (XRPL) is currently in the process of a major technology update, with several amendments already announced for voting.

The XRP development team revealed that about 80% of the XRPL servers have been successfully updated, and older version servers are expected to be automatically disconnected once this update is complete. This update will bring a number of important changes that have the potential to impact various aspects of XRP and XRPL usage as a whole.

Update to XRP Ledger v2.3.0

XRP Ledger v2.3.0 brings several important amendments aimed at improving network efficiency and functionality. Some of the key changes included in this update include:

▪️XLS-70: Credentials
This amendment allows you to provide credentials to the ledger and use them to automatically approve incoming payments.

▪️XLS-33: Multi-Purpose Token
This change presents a new, more optimal version of the token, especially for institutions operating in the Decentralized Finance (DeFi) sector. This aims to support the broader adoption of fungible tokens in DeFi.

▪️XLS-37: AMM Clawback
This amendment allows the use of tokens with a clawback feature in Automated Market Maker (AMM) systems, providing more flexibility in the management of revocable tokens.

▪️XLS-52: NFTokenMintOffer
With this amendment, you can make sales offers for Non-Fungible Tokens (NFT), opening up more opportunities in the ever-growing NFT market.

▪️Bug Fixes and Efficiency Improvements
In addition to the major amendments, this update also includes a number of technical improvements, such as fixing a bug that resulted in missing links in the NFT directory and improvements to the AMM transaction process that can improve overall system performance.

XRPL Server Update Progress

As part of this update, the development team also announced that around 80% of the XRPL servers have been successfully updated. This marks a major step in ensuring the XRPL network remains relevant and efficient.

Servers using versions 2.2.x and older are expected to automatically disconnect once the update is complete, forcing most users to upgrade to stay connected to the network.

Implications of the Update to the XRP Network

In addition to technical updates, recent data shows a significant increase in activity on the XRP network. According to data from CryptoQuant released in November 2024, XRP's Network Value to Transactions (NVT) ratio saw a spike, indicating increased activity on the network.

 Further analysis from CryptoQuant also showed significant changes in transaction types on XRPL, especially in “OfferCreate” transactions, reflecting increased trading activity on the network.

In January 2024, payment transactions accounted for 88% of all transactions on the ledger, while “OfferCreate” transactions accounted for 12%. However, in November 2024, both types of transactions will experience equal adoption with a contribution of 50% each. This shows that the adoption of new features, including decentralized trading (DEX), is starting to gain popularity among XRPL users.

XRP Outlook Post Update

In December 2024, crypto analyst Paul Barron revealed that the XRPL network was on the verge of a major breakthrough. According to him, the update that is being carried out has the potential to trigger a significant spike in the price of XRP.

Even though the price of XRP is currently hovering around $2.3 after experiencing a 4.4% decline in the last seven days, optimism for the future of the XRP network remains high, especially with increased activity and ongoing updates.

Thus, the XRPL v2.3.0 update not only brings significant technical changes, but also opens up new opportunities for adoption and further development in the XRP ecosystem, both for individuals, institutions, and developers in the DeFi and NFT sectors.

As the server upgrade nears completion, the XRP network is expected to become stronger and more competitive in the ever-evolving blockchain world.

@ Newshounds News™

Source:  BitTime

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LEDGER INSIGHTS - 13 JAN – TOKENIZATION, DIGITAL ASSETS NEWS

TOKENIZATION AND DIGITAL ASSETS: POLICY & LEGAL

FDIC Vice Chair acknowledges crypto debanking, outlines policy plan. He’s a candidate to become chair.
Ledger Insights  

United States Consumer Financial Protection Bureau (CFPB) interpretive rule proposes to include stablecoins, crypto in Electronic Fund Transfer Act (EFTA) as digital payments. This would give consumer protections such as the right to dispute errors or fraudulent transactions. Comments should be submitted by the end of March.  
CFPB-EFTA Document

OECD explores impediments to tokenization adoption.
Ledger Insights

New Springer legal book including digital assets
Governance and Control of Data and Digital Economy in the European Single Market: Legal Framework for New Digital Assets, Identities and Data Spaces
OPEN ACCESS DIGITAL LINK 

Indonesian commodities regulator transfers digital asset responsibilities:
the Commodity Futures Trading Supervisory Agency (Bappebti) transferred its digital assets duties including crypto and derivatives to the Financial Services Authority (OJK) and Bank Indonesia (BI).

OJK takes on most of the responsibilities with the central bank supervising derivatives where the underlying assets relate to money markets or foreign exchange.  KK Advocates 

Kenya’s Treasury publishes a draft set of digital asset rules and requests feedback.
Draft Document 

European Central Bank’s Bindseil and others explore tokenization terminology.  Tokenization Terminology 

TOKENIZATION & DIGITAL ASSETS: PROJECTS, PARTNERSHIPS

NUS, Northern Trust and UOB partner to tokenize green bond data. Part of Project Guardian. Ledger Insights 

Ownera, which provides a blockchain interoperability router FinP2P, partners with Layer 1 blockchain Kadena.  LINK 

Germany’s Bundesbank advertises for (more) DLT technical roles. Good news for wholesale DLT settlement solutions?  LINK 

Blockchain Security Standards Council issues first two standards. Its members include Anchorage Digital, Coinbase, Fireblocks, OpenZeppelin, Ribbit Capital. One of the standards is on asset integration – such as tokens.  LINK

@ Newshounds News™

Source: Ledger Insights 

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How America’s Debt Addiction is Triggering a Collapse

How America’s Debt Addiction is Triggering a Collapse

ITM Trading:  1-12-2025

The global economic landscape is shifting, prompting many to question the stability of current systems. In the United States, concerns are growing about the potential for runaway inflation and the possibility of a significant currency reset.

While mainstream economic analysis often downplays these risks, a closer look at government spending, historical precedents, and the current economic climate suggests a need for careful consideration and proactive planning.

One of the most pressing anxieties is the rising cost of goods and services. While inflation is a natural part of a healthy economy, excessive inflation, particularly when coupled with stagnant economic growth (stagflation), can be incredibly damaging.

Some analysts argue that the U.S. is already experiencing early signs of stagflation, pointing to rising prices alongside slowing GDP growth. This presents a challenging scenario for policymakers, as measures to combat inflation, such as raising interest rates, can further stifle economic activity.

The underlying concern stems from what some perceive as unsustainable levels of government spending. Trillions of dollars have been pumped into the economy in recent years, contributing to an expansion of the money supply. While these measures were intended to stimulate growth and mitigate the effects of the pandemic, critics argue that they have added fuel to the inflationary fire.

History is replete with examples of nations grappling with hyperinflation and currency devaluations. From the Weimar Republic in the 1920s to more recent cases in South America and Africa, the consequences of uncontrolled inflation are severe: widespread poverty, social unrest, and a drastic loss of faith in the government and its institutions. These historical examples highlight the potential for even developed economies to fall victim to extreme economic instability when imbalances are ignored for too long.

Some argue that the current situation shares worrying similarities with these past crises – excessive government spending, rapid growth in money supply, and a weakening of public confidence. While it’s impossible to predict the future with certainty, understanding these historical patterns is crucial for informed decision-making.

Given the uncertain environment, many individuals and institutions are looking for ways to safeguard their savings and investments. Diversification is always a valuable strategy, but in times of perceived crisis, alternative asset classes are often explored.

Traditional assets may lose their value in an inflationary period, as prices rise and purchasing power erodes. This has led some to consider holding physical assets, such as precious metals like gold and silver. Historically, these metals have been seen as stores of value and a hedge against inflation. The idea is that while fiat currencies may depreciate, the value of physical assets can hold steady or even appreciate.

Ultimately, the future of the U.S. economy remains uncertain. While some experts dismiss the risks, the possibility of significant economic challenges, including inflation and currency volatility, is a valid concern.

The most important step individuals can take is to stay informed, understand the potential risks, and make informed decisions based on their unique circumstances. This involves careful attention to news and expert analysis, as well as a proactive approach to personal financial management. Rather than panic, it’s time for thoughtful planning and diversification to navigate the potential challenges ahead.

https://youtu.be/Y_G74U4fVu4

Iraq Economic News and Points to Ponder Monday AM 1-13-25

During 2024.. The Iraqi Central Bank Imposes Fines Worth 279 Billion Dinars On Banks And Money Changers
 
Economy    2025-01-11 23:52  Shafaq News/ The Central Bank of Iraq announced, on Sunday, the imposition of fines on banks and non-banking institutions (exchange companies) worth 279 billion Iraqi dinars, during the year 2024.
 
A table of the bank, viewed by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past year amounted to 279 billion and 144 million and 977 thousand and 628 dinars, indicating that “the fines also included 238 administrative penalties for these banks and non-banking institutions, distributed between warning and warning.” And the grace period.”

The table showed that “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines amounted to 98 billion, 277 million, 722 thousand and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of September witnessed the lowest fines, as they amounted to 2 billion, 331 million, 465 thousand and 48 dinars in penalties.” Administrative penalties amounted to 13.”
 
The table did not show the names of the banks on which fines were imposed, nor the nature of the administrative penalties.
 
The Association of Investors in the Iraqi Stock Exchange criticized the Central Bank of Iraq's increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.  
  
https://shafaq.com/ar/اقتصـاد/خلال-2024-المركزي-العراقي-يفرض-غرامات-بقيمة-279-مليار-دينار-على-مصارف-وصيرفات 

Central Bank Renews Directive To Spread And Expand Financial Services And Atms

Banks  Economy News – Baghdad   The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/." 79 views  Added 2025/01/12 - https://economy-news.net/content.php?id=51858

Tasks of the Directorate of Supervision of Non-Banking Financial Institutions
 
    1- An introductory overview of the directorate:
    The Directorate of Supervision of Non-Banking Financial Institutions at the Central Bank of Iraq is responsible for licensing, supervision and control of non-banking financial institutions, with the aim of protecting the financial system from potential risks and enhancing confidence in the non-banking financial sector.
 
It also seeks to ensure the provision of safe and effective financial services to citizens, in addition to ensuring that these institutions comply with laws and instructions in accordance with global standards in the field of compliance, which contributes to enhancing financial stability.
    
    2- The directorate’s powers and tasks:
    - Licensing non-banking financial institutions.
 
        All license applications are carefully examined in accordance with the principle of equality between all applications, in order to ensure the availability of conditions that allow it to compete in the Iraqi market and keep pace with rapid developments in the global and local financial sectors, while achieving the highest levels of efficiency and transparency.
 
    - Supervision and control of non-banking financial institutions.
 
        This directorate acts as a supervisory authority, adopting a flexible and contemporary supervisory approach that enables it to carry out supervision and monitoring to ensure success in the Iraqi financial sector.
    
    3- Laws, regulations and instructions.
 
        Central Bank of Iraq Law (Link to PDF).
        Anti-Money Laundering and Terrorist Financing Law No. 3 of 2015 (Link to PDF).
        Electronic Payment Services System No. 2 of 2024 (Link to PDF).
        Work regulations for agents of foreign remittance service providers for the year 2021 (Link to PDF).
        Operating controls for exchange companies (Link to PDF).
        Regulations for the work of financing companies (Link to PDF).
    
    4- Types of non-banking financial institutions.
    A- Types of non-banking financial institutions
 
        Electronic payment companies (redirect link to the electronic payment companies page).
        Exchange companies (redirect link to the exchange companies page).
        Finance companies (redirect link to the finance companies page).

    B- Licensing requirements and controls for each type.
 
        Electronic payment companies (Link to Page).
        Exchange companies (Link to page).
        Finance companies (Link to page).
    
    5- Control and inspection procedures.
 
        Oversight methodologies and inspection mechanisms (Link to PDF).
        Periodic reports required from institutions.
        Requirements for appointments to leadership positions (Link to PDF).
    
    6- Reports and publications.
    7- Advertisements
    8- Updates related to laws and instructions.
    9- Workshops and training courses.
    10- Communication channels.
    
    11- The official mail of the directorate.
 
        The Directorate’s email ( nbfi.supervision@cbi.iq ).
        The official email of the Exchange Companies Control Department (Company.sup@cbi.iq) .
        The official mail of the Finance Companies Control Department.
        The official email of the Electronic Payment Service Providers Monitoring Department (electronicpay.bs@cbi.iq)
  
https://cbi.iq/news/view/2759 

 National Data Center, Customs And Border Ports Authority Announce Launch Of Customs Automation System

Sunday 12 January 2025 | Economic Number of readings: 198  Baghdad / NINA / The National Data Center at the General Secretariat of the Council of Ministers announced the launch of the "ASYCUDA" system in cooperation with the General Authority of Customs and the Border Ports Authority, in ten land, sea and air border ports, after conducting a comprehensive assessment of the infrastructure in 14 border ports, within the framework of supporting the government's program for digital transformation and automation of customs operations in Iraq.

Director of the National Data Center Department, Ammar Mazhar Al-Tamimi, stressed that the success of operating the system reflects the exceptional efforts made to develop the infrastructure supporting customs automation, pointing to the government's commitment to the success of this vital project that contributes to enhancing the efficiency of customs operations and achieving transparency.

Al-Tamimi pointed out, according to a statement by the Secretariat of the Council of Ministers, that the efforts included providing the General Authority of Customs with modern technical equipment, in addition to establishing a secure network system based on advanced servers and firewalls, with the allocation of a separate environment to ensure data security and link the system to the secure government network. "

In a related context, the General Authority of Customs in the Ministry of Finance and the Border Ports Authority, with the support of the National Data Center, continue to work on expanding the scope of the system to include additional ports, including Basra International Airport, Khor Al-Zubair Port, and Abu Flus Port, which are scheduled to be operational in the coming months."

The customs automation project aims to raise the efficiency of customs performance and facilitate the movement of goods in line with international standards, in a qualitative step to support the national economy and improve the business environment in Iraq. " https://ninanews.com/Website/News/Details?key=1179572

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Morning 1-13-25

Good Morning Dinar Recaps,

SEN. TED CRUZ: FIGHTING REGULATORY OVERREACH, CHAMPIONING BITCOIN

In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation and why Texas is becoming a top crypto hub.

In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader crypto industry and the future of his home state of Texas.

As a self-proclaimed Bitcoin miner, Cruz emphasized the potential of BTC to empower small businesses, drive innovation, and serve as a hedge against inflation.

Despite his optimism for the future of BTC and crypto mining, Cruz warned against hasty government regulations, stressing the need for Congress to better understand before overreaching with regulatory actions.

“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he said.

Bitcoin’s impact on small businesses

Cruz said he is “bullish on Bitcoin,” praising its capacity to provide privacy, autonomy and independence from government control.

“Most congressional Democrats are deeply skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, autonomy and independence from the government.”

With the incoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrency like never before.”

“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I introduced legislation to prohibit the development of a central bank digital currency and to clarify that the Federal Reserve has no authority to do so unilaterally.”

Texas as an oasis for Bitcoin

Cruz described Texas as “an oasis for Bitcoin” due to its abundant, low-cost energy and business-friendly environment. He said the state’s “frontier mentality” and low taxes have made it a magnet for Bitcoin mining firms and crypto enthusiasts.

“Cryptocurrency mining requires dependable, low-cost energy, and if Texas is known for anything, it is abundant low-cost energy,” Cruz said. “I am thrilled to see so many jobs coming to Texas, and we need to make sure that trend continues and accelerates,” he added.

Recent developments, such as Hive Digital relocating its headquarters to Texas and Marathon Digital acquiring a wind farm in the state, underscore Cruz’s sentiment.

Cruz told Cointelegraph that, to his knowledge, he is the only member of the Senate who is a BTC miner and has “three miners hashing in West Texas right now.”

“I have a weekly buy order to take advantage of dollar-cost averaging,” he said. “I’ve been investing for several years, over which time Bitcoin’s value has roughly tripled.”

@ Newshounds News™

Source:  CoinTelegraph

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INCOMING TREASURY TO SELL BITCOIN ETF HOLDINGS

According to a recent report by Bloomberg, hedge fund manager Scott Bessent, who was recently nominated to be the new Treasury secretary, will divest his Bitcoin ETF holdings. The billionaire American investor owns no more than $500,000 worth of shares of BlackRock's iShares Bitcoin Trust ETF (IBIT). Overall, Bessent has listed more than $500 billion worth of assets.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

RIPPLE CTO REVEALS COMPANY'S MEDIA STRATEGY ON XRP

Ripple CTO David Schwartz breaks silence on crypto company's approach to misinformation regarding XRP

Ripple's CTO David Schwartz recently shared some thoughts on the company's media strategy during its three-year legal battle with the Securities and Exchange Commission. 

The case ended with Ripple getting a partial victory, after they argued that XRP, the cryptocurrency associated with Ripple, should not be classed as a security. The court concluded that XRP is not a security, but the crypto company was fined for selling coins to institutional clients. 

This clarified the asset's status, which has big implications for both the San Francisco-based company and the wider crypto market.

Schwartz talked about the challenges Ripple faced in dealing with false information about XRP during the lawsuit. He admitted that the company couldn't do much to directly challenge the false stories about the cryptocurrency because of legal and strategic limits.

Instead, they relied on their community, also known as the "XRP Army," to spread the right message. But this meant that misinformation and speculation spread, which was not ideal.

Schwartz said that Ripple tried not to amplify unverified claims or people spreading misinformation on purpose, but he admitted that this approach might have had the opposite effect. He said that if they dealt with inaccuracies, they might accidentally give them more credibility or visibility, which would make it harder for Ripple to respond to the media.

Schwartz also talked about how Ripple tries to tell the difference between helpful contributions and baseless claims in the XRP community. While the company recognized the importance of fostering a positive narrative, it maintained caution in engaging with content or individuals that might harm its reputation or mislead the public. #XRP #XRP News #Ripple News

@ Newshounds News™

Source:  U Today

~~~~~~~~~

MASTERCARD INTRODUCES CRYPTO CREDENTIAL FOR SEAMLESS P2P TRANSACTIONS IN UAE, KAZAKHSTAN

▪️Mastercard has launched Crypto Credential in the UAE and Kazakhstan to simplify crypto transactions.

▪️The solution ensures secure transactions by verifying both the sender’s and recipient’s wallet compatibility.

Mastercard has launched its Crypto Credential solution, which will make it easier for people in the UAE and Kazakhstan to use cryptocurrencies. This launch enables the users to send and receive digital assets through easily memorable names instead of complicated blockchain addresses, making it easier to incorporate crypto.

Crypto Credential is one of Mastercard’s efforts to strengthen the security of digital asset transactions. Through cooperation with regulated exchanges like CoinMENA in the UAE, Fuze in Dubai, and ATAIX Eurasia in Kazakhstan, the solution is designed to enable the verification of transactions and ensure that both transacting parties have met certain verification standards. It also checks that the recipient’s wallet can accept the transferred asset.

It ensures that crypto users have a certain degree of confidence in the service, which checks the transaction details, including Travel Rule data and metadata sharing. Mastercard believes simplicity is key in crypto transactions to help boost trust among consumers and businesses.

“We are excited to see Mastercard embracing blockchain technology,” said Talal Tabba, CEO of CoinMENA. “Innovations like Crypto Credential are key to making digital assets more user-friendly, especially for those transitioning from traditional finance.”

How Mastercard Crypto Credential Works

The adoption of Crypto Credentials begins with the user’s validation in accordance with the Mastercard guidelines. After successful validation, users are given a unique alias that can be utilized on any supported exchange for transferring and receiving cryptocurrencies.

When a transfer is initiated, the system verifies if the recipient’s alias is active and if the wallet of the recipient supports the given digital asset. If not, the sender is informed, and the transaction is stopped to avoid the loss of the funds. This mechanism ensures security and ease of use since users are shielded from mistakes and deceit.

Initially, the pilot phase will cover only peer-to-peer transactions. Nevertheless, Mastercard plans to use Crypto Credentials in several services in the future. Some of the possible applications are Non-Fungible Tokens (NFTs), ticketing, and other new payment applications based on the market’s needs and legal frameworks.

A Broader Expansion Across Regions

Mastercard Crypto Credential is not only available in the UAE and Kazakhstan. It is part of a greater implementation strategy for the company’s commercialization plans in markets across North America, Europe, Latin America, and Asia-Pacific. This expansion enables the user to transfer digital assets not only within these regions but also across blockchains and types of assets.

The new initiative has garnered support from industry leaders. Arutyun Poghosyan, CEO of ATAIX Eurasia, expressed enthusiasm about the collaboration, stating, “We are incredibly excited to implement Mastercard’s Crypto Credential technology. This partnership strengthens our position in the crypto space.”

In addition to the Crypto Credential, Mastercard has also collaborated with JPMorgan to create innovative B2B cross-border payment flows. CNF has earlier covered that the partnership links Mastercard’s MTN and JPMorgan’s Kinexys Digital Payments and is beneficial for businesses, according to CNF. 

This partnership leverages a single API to streamline foreign transactions, and minimize the time that is usually lost in crossing borders and other barriers that have hitherto slowed down global trade.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

XRP BULLS IN ACTION? KOREAN EXCHANGE SEES STUNNING OUTFLOWS

Popular cryptocurrency XRP eyes mysterious $60 million whale activity on Korea's biggest exchange

A big XRP transfer from Upbit, South Korea's biggest crypto exchange, is causing some buzz about what it might mean for the popular cryptocurrency. Whale Alert tracked the withdrawal of 24 million XRP, worth about $60.63 million, from Upbit's wallet "rDxJNb" to an address that had not been recognized before, "r9n1JL."

 It is common for such a movement to be made between the big players in the cryptocurrency game, like Ripple or major exchanges like Binance, so it's possible this wallet could even belong to Upbit itself. But this is just guesswork, and we are still not sure who owns the address.

While it is tempting to think this is a sign that whales are building up their holdings, it's best not to jump to any conclusions just yet. Have to do some more digging and keep a close eye on things to see what is really going on.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 1-13-2025

TNT:

Tishwash:  Central Bank Renews Directive to Spread and Expand Financial Services and ATMs

The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/."link

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Tishwash:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, “The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers.”

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that “currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country,” noting that “most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which "Requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion." link

************

Tishwash:  Government Advisor: ASYCUDA System is a Vital Tool for Developing Customs Work and Boosting International Trade

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed today, Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade.

Saleh told the Iraqi News Agency (INA): "ASYCUDA is a customs data management system developed by the United Nations Conference on Trade and Development (UNCTAD) since the eighties of the last century, as this system aims to simplify and accelerate customs and border crossing operations using modern digital technology, according to the generations of the system applied, including the second advanced generation that relies on cloud digital technology."

He added that "in line with the government program to enhance the efficiency of collecting non-oil revenues and make them no less than 20% of total revenues, the Ministry of Finance and government support agencies have taken the step of joint cooperation with the United Nations to develop customs control and collection systems and control the movement of imports and exports in accordance with the best digital measures in applying customs tariffs on incoming imports and conducting matches with countries of origin."

Saleh continued that "the General Authority of Customs and the Border Ports Authority completed the procedures for working with the ASYCUDA system last year and are progressing in the new year 2025, including providing high-quality digital infrastructure," noting that "the importance of implementing the ASYCUDA system is that it provides comprehensive automation of customs operations, such as data recording, fee assessment, customs clearance, and records management."

The Prime Minister's Advisor for Financial Affairs explained that "this system reduces delays at border crossings and increases efficiency, in addition to enhancing transparency and disclosure of traded materials, and most importantly, it reduces corruption by reducing direct human interaction and adopting a reliable electronic system for recording and processing data," noting that "the increase in customs revenues that occurred last year was due to ASYCUDA's role in improving the process of assessing customs duties and taxes, which ensures fair and accurate collection of revenues."

Saleh explained that "the system enhances international trade by reducing administrative obstacles and allowing for the acceleration of the clearance process, which encourages the growth of trade between countries, and helps support analysis and statistics, and even provides a comprehensive database on the movement of goods across borders, which supports decision-makers in setting economic and trade policies. As for improving border security, the ASYCUDA system allows for better tracking and inspection of shipments, which helps combat smuggling and illegal activities."

He stated that "the ASYCUDA system is a vital tool for developing customs work and achieving a balance between facilitating trade and protecting borders, which makes it a fundamental pillar of any modern customs system, as Iraq is among the group of Arab countries that apply this system in an integrated manner in ports, airports and land borders, including Jordan, the Emirates, Saudi Arabia and Egypt." link

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Mot: .. Warning them Young fur Sure!!! 

Mot: .... Frustrating When This Happens  

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

MilitiaMan & Crew Iraq Dinar News-Central Bank Globalizing Iraqi Banks-Completes External Transformations

1-12-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=h0HK_XvQx4s

Iraq Economic News and Points to Ponder Sunday Afternoon 1-12-25

Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption

Political | 12/01/2025  Mawazine News – Baghdad  The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.

Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.

He added that "the parliamentary committees have been directed to intensify their efforts to complete important draft laws, and activate the oversight role in a way that contributes to undermining opportunities for corruption and preserving Iraq's wealth." He also pointed to the need to enhance transparency by hosting officials to discuss challenges and find solutions to problems that hinder the implementation of public policies.

Al-Mandalawi stressed the importance of coordination with the executive authority to accelerate the completion of legislation that directly affects the lives of citizens, and to support the government in implementing its electoral program, while improving communication with citizens to convey their problems and follow up on their solutions effectively. https://www.mawazin.net/Details.aspx?jimare=258469

Currency Smuggling.. The Central Bank Punishes 10 Iraqi Banks Due To Violations Of Foreign Transfers
 
Today 14:14  Information/Baghdad… Representative Baqir Al-Saadi confirmed today, Sunday, that the 
Central Bank of Iraq issued sanctions against ten Iraqi banks due to violations related to the foreign transfer file, which has become a direct threat to the local economy.
 
Al-Saadi said, in a statement to the “Al-Ma’louma” Agency, that  “the file of smuggling hard currency outside Iraq is still a source of great concern, amid multiple question marks about the mechanisms for implementing these operations, especially with the continuing investigations into exchange offices and banks committing serious violations in foreign transfers.”. 

He added,  "The sanctions issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency outside the country." Al-Saadi pointed out that

  “currency smuggling
 
     has serious effects on the local economy, and
     causes an increase in financial crises in the country,” pointing out that
 
“most of the transfers that are made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the establishment of strict measures to stop this ongoing bleeding.”"

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new determinants and re-evaluating the tools used in financial transactions, with the importance of revealing the results of investigations to public opinion." Ended / 25F    
  
https://almaalomah.me/news/87949/economy/تهريب-العملة-المركزي-يعاقب-10-مصارف-عراقية-بسبب-مخالفات-الحو 

Financial Advisor: ASYCUDA System Boosts International Trade, Reduces Corruption At Customs Ports

Economy | 12/01/2025  Mawazine News –  Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Salih, stressed today, Sunday, the importance of adopting the "ASYCUDA" system in the Iraqi Customs Administration, pointing to its role in reducing delays at border crossings and enhancing international trade.

Salih explained that the ASYCUDA system, developed by the United Nations Conference on Trade and Development (UNCTAD) since the 1980s, relies on modern digital technology to simplify and accelerate customs operations.

He added that Iraq is implementing the second generation of this system, which relies on cloud technology to provide comprehensive automation of customs operations, including data recording, fee assessment, customs clearance, and records management.

He pointed out that the implementation of the system comes in line with the government program to enhance non-oil revenues to reach 20% of total public revenues, explaining that joint cooperation with the United Nations aims to improve customs control and collection systems and control import and export operations according to the best digital standards.

Saleh revealed that the General Authority of Customs and the Border Ports Authority completed the implementation of the system during the past year, while providing a high-quality digital infrastructure to develop customs work in 2025, stressing that this system contributes to reducing corruption by reducing human interaction and adopting full automation, which increases transparency and supports efficiency.

He explained that ASYCUDA enhances international trade by accelerating the customs clearance process and reducing administrative barriers, in addition to providing a comprehensive database that supports economic and trade policy-making, pointing to its role in improving border security by tracking and inspecting shipments more accurately to combat smuggling and illegal activities.

Saleh concluded by saying that ASYCUDA represents a vital tool for achieving a balance between facilitating trade and protecting borders, stressing that Iraq joins a group of Arab countries, such as Jordan, the Emirates, Saudi Arabia, and Egypt, that implement this system in customs ports in an integrated manner.   https://www.mawazin.net/Details.aspx?jimare=258464

Iraq Surpasses Saudi Arabia In Oil Exports To America

Energy  Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq has surpassed Saudi Arabia for the second week in a row in oil exports to the United States.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 6.016 million barrels per day, an increase of 251 thousand barrels per day from the previous week, which amounted to 5.765 million barrels per day."

She added that "Iraq's oil exports to America reached 180 thousand barrels per day last week, down by 32 thousand barrels per day from the previous week, which reached 212 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached an average of 69 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.422 million barrels per day, followed by Mexico at an average of 392 thousand barrels per day, then Venezuela at 253 thousand barrels per day, and Brazil at 233 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Nigeria amounted to an average of 192 thousand barrels per day, from Ecuador 147 thousand barrels per day, from Colombia 72 thousand barrels per day, and from Libya 56 thousand barrels per day." 126 views  Added 01/12/2025 https://economy-news.net/content.php?id=51836

125 Billion Dinars Revenues Of The Iraqi Islamic Bank

Banks  Iraqi Islamic Bank announced its financial results for 2024, which showed positive performance in a number of key indicators, as assets rose to 2.65 trillion dinars compared to 2.2 trillion dinars in 2023, representing a growth of 20 percent.

Credit also witnessed a significant jump, reaching 934.9 billion dinars, compared to 637.5 billion dinars in the previous year, an increase of 46.6 percent.

In contrast, deposits declined to 751.2 billion dinars compared to 1.19 trillion dinars in 2023, a decrease of 37 percent, while revenues increased to record 175 billion dinars compared to 132.9 billion dinars, representing a growth of 31.6 percent, which was reflected in profits that reached 86.5 billion dinars after they were 76.6 billion dinars in 2023, an increase of 13 percent. 287 views  Added 2025/01/12 - 10:39 AM  https://economy-news.net/content.php?id=51841

Chinese Ambassador: $50 Billion Is The Volume Of Trade With Iraq And Dealing In Yuan Is In Its Initial Stages

Economy | 11:56 - 12/01/2025  Mawazine News – Baghdad    Chinese Ambassador Cui Wei confirmed today, Sunday, that the volume of trade cooperation with Iraq during 11 months reached 50 billion dollars, while he indicated that dealing in the yuan between the two countries is in its initial stages.  https://www.mawazin.net/Details.aspx?jimare=258455

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-12-25

Good Afternoon Dinar Recaps,

KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT

Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.

Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.

Speaking on Friday, Mbadi outlined the government’s plans to create a regulatory framework for cryptocurrencies, an industry that has operated in the shadows despite an official ban.

“Kenya’s financial sector is a beacon of innovation and growth in Africa,” Mbadi stated. “The emergence and growth of Virtual Assets and Virtual Asset Service Providers have given rise to innovations in the local and international financial system with dynamic opportunities and challenges.”

While recognizing the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and fraud, Mbadi emphasized that a legal framework would allow Kenya see the benefits of the crypto market while mitigating its dangers.

“The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks,” he added.

IMF Urges Kenya to Establish Clear Crypto Regulations

The proposed policy seeks to establish a fair and competitive crypto market and improve financial literacy across the country.

This initiative aligns with recent calls from the International Monetary Fund (IMF), which urged Kenya to develop regulations to address consumer protection and financial crime concerns related to cryptocurrencies.

In a technical assistance report released on January 8, the IMF outlined shortcomings in Kenya’s current regulatory approach to crypto assets.

Outdated frameworks have struggled to address the rise in crypto-related scams and illicit activities, leaving consumers vulnerable to financial risks.

With Kenya joining the growing list of African nations embracing cryptocurrency, this regulatory shift could position the country as a regional hub for blockchain innovation while addressing systemic risks.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

SINGAPORE LABELS POLYMARKET ILLEGAL GAMBLING, RESTRICTS SITE ACCESS

▪️Singapore blocks Polymarket, citing unlicensed gambling.

▪️Polymarket faces a ban in France and CFTC subpoena in the US.

Singapore has officially blocked Polymarket, a crypto-based betting platform, citing its unlicensed status in the country.

Warning Notice

Visitors to the site are greeted with a warning from the Gambling Regulatory Authority, labelling it an illegal gambling operation.

The notice warns that gambling on unlicensed platforms may result in fines, jail time, or both.

The block falls under the Gambling Control Act 2022, which mandates that all gambling operators targeting Singaporean residents obtain proper licensing.

Singapore currently restricts online gambling to state-approved operators like Singapore Pools, the country’s sole licensed provider.

Polymarket, known for hosting high-stakes prediction markets on events like the US presidential election, is also encountering resistance in Europe.

In France, the country’s gambling regulator, ANJ, blocked access to the platform in November.

According to The Big Whale, a French crypto news outlet, the ANJ considers Polymarket a form of illegal betting.

A source close to the regulator claimed, “This is not legal in France,” as officials examine its compliance with local gambling laws.

Meanwhile, in the United States, the platform is under fire from the CFTC, which has proposed stricter rules on prediction markets.

On Thursday it was revealed that Coinbase notified customers it received a subpoena from the CFTC seeking account information tied to Polymarket.

@ Newshounds News™

Source:  DL News

~~~~~~~~~

'LIVE FREE OR DIE': NEW HAMPSHIRE THE LATEST STATE TO CONSIDER BITCOIN RESERVE BILL

New Hampshire Rep. Keith Ammon proposed a bill to enable a Bitcoin treasury reserve, which he framed as a matter of state sovereignty.

New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.

Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt.

“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”

 Newshounds News™

Read more:  Decrypt

~~~~~~~~~

RIPPLE AND MOONPAY PLEDGE $50,000 IN RLUSD TO LAFD FOUNDATION FOR CALIFORNIA WILDFIRE RELIEF

▪️Wildfires in California have reportedly destroyed about 12,000 structures leading to over 11 fatalities, with containment still a challenge.

▪️Ripple and MoonPay donated $50,000 worth of RLUSD to the Los Angeles Fire Department Foundation, supporting first responders amid the crisis.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 1-12-2025

KTFA:

Clare:  Al-Sudani to pay official visit to UK tomorrow, Monday

 An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.

The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."

He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom.   link

************

Clare:  Trump's envoy on his way to Iraq.. A new message to Al-Sudani

1/11/2025

An informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying with him a message to Prime Minister Mohammed Shia al-Sudani.

According to the source, who spoke to Shafaq News Agency, "An American envoy is expected to arrive in Baghdad, carrying direct messages from Trump about the security of the region and Iraq's role in it."

The source explained that "the visit may be secret (not officially announced)," noting that the envoy will also discuss the details of Al-Sudani's recent visits, and Trump's vision according to the recent changes in the region.

An informed political source reported last week that the Iraqi Prime Minister received a message from US President-elect Donald Trump, via a special envoy on an unannounced visit, which included several axes .

According to the source, the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government .

Meanwhile, a government source told Shafaq News Agency that Iraq   is working diligently to establish security in the region, and that the Prime Minister presented Iraq's vision in this regard during a visit to Iran .

Al-Sudani had made numerous visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan, Saudi Arabia, and recently Iran, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States .  LINK

************

Clare:  The Central Bank calls on banks to expand and expand ATM services and cash payment machines

1/12/2025 Baghdad - 

The Central Bank of Iraq called on banks, on Sunday, to expand the spread of cash delivery outlets through all available channels such as ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

Central Bank statement, as reported to 964 Network :

The Central Bank of Iraq works within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:

Click here  LINK

***********

Clare: Central Bank of Iraq: We are working to provide ATMs in all regions

1/12/2025

The Central Bank of Iraq confirmed, on Sunday, that it is working to provide ATMs and cash payment machines, while indicating that it has directed all banks to spread their financial services in all regions.

The bank said in a statement received by Shafaq News Agency, "The Central Bank of Iraq is working within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices , as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

He added that "the Central Bank confirmed in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He pointed out that "the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously."  LINK

************

Clare:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

 1/12/2025  Information/Baghdad…

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, "The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers."

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that "currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country," noting that "most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion."  LINK

The Center of the Next Meltdown

The Center of the Next Meltdown

Liberty and Finance:  1-11-2025

The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.

During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.

Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.

While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.

His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.

“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”

He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.

The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.

This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.

The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.

However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.

This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.

In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.

While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.

https://youtu.be/0q_Mc29Mxg8

Iraq Economic News and Points to Ponder Sunday AM 1-12-25

Iraq's Missing Money...Dubai Is Indicted: Smuggling Is Still Continuing And Trump Is Coming 

Economy | Yesterday, | Baghdad today – Baghdad Representative Baqir Al-Saadi revealed today, Saturday (January 11, 2025), that  Dubai has become the largest point for smuggling Iraqi funds abroad, 
pointing out the involvement of individuals, money changers, and banks in these operations. Al-Saadi said in an interview with "Baghdad Today",

 "The smuggling of money from Iraq is still continuing in various forms, whether by  individuals or
     banking companies, in addition to the involvement of   some banks that use remittances as a means of transferring money in a way that raises major question marks."

He added, "Dubai has become the largest destination for this money, with clear indicators observed during the recent period confirming the involvement of some banks in facilitating smuggling operations." Al-Saadi confirmed that
 
“the Iraqi Parliament, through its oversight duties, is following up on many files related to this matter, some of which are under investigation in coordination with the competent regulatory authorities,” noting that
 
“the Central Bank of Iraq suspended the activity of 10 banks due to suspicions about smuggling money outside the country in illegal ways.” Comply with established instructions and controls. Al-Saadi explained,
 
"The money smuggling file is very complex, despite a series of measures taken by the Central Bank, including coordination with the US Treasury Department, which imposed sanctions on some of the banks involved." He pointed out that
 
"smuggling operations depend on complex routes and routes, which makes controlling them a major challenge," stressing that
 
"there are important investigations underway that may yield tangible results during the coming period." Al-Saadi concluded by saying,
 
"Efforts are continuing to uncover the facts and hold those involved accountable, but 
combating this thorny issue requires more time and strict measures."
 
It is noteworthy that US President-elect, Donald Trump, has stated more than once that he will deal firmly with the issue of protecting the dollar in the world, especially with countries that have admitted their involvement in currency smuggling and money laundering, such as
 
Iraq, which the Trump team believes tolerates currency and oil smuggling operations.    
  
https://baghdadtoday.news/265657-أموال-العراق-المفقودة.-دبي-في-دائرة-الاتهام-التهريب-لايزال-مستمرا-وترامب-قادم.html

International Banking Day

Economical 01/12/2025  Muhammad Sharif Abu Maysam  At the end of the year 2019, the United Nations approved International Banking Day, which is held on December 4 of each year. According to its organizers,
 
it aims to shed light on the important role that banks play in financing sustainable development, by providing financing, technical advice, and assistance in implementing projects.
 
Which promotes poverty eradication, reducing inequality and combating climate change.
 
Based on this goal, the following question can be asked:
 
     Have they contributed, and
 
     do local banks contribute, to financing sustainable development, and
 
     what are their contribution rates in implementing projects that promote the eradication of poverty and the reduction of inequality in light of the total of their capital, deposits and reserves?
 
Did it exercise the role for which it was found after its capital had matured by establishing this role through overnight investment and the currency auction, from ten billion dinars according to Iraqi Banking Law No. 94 of 2004 to about 450 billion dinars, as in the instructions of the Central Bank, which recently stipulated this minimum ceiling for the work of any... A bank in the Iraqi banking arena by the end of this month
 
Meaning that the bank that started with ten billion dinars in the years following 2004 has or will have 450 billion dinars at the end of this month, otherwise it will be subject to merger or cancellation, and
 
this is thanks to the monetary policy that was followed in order to support the Iraqi banking sector and make it a sector qualified to deal with... International banks and banking according to what the global banking industry has reached, and in a way that makes it capable of introducing modern banking technologies and programs to complete financial exchanges and trades with countries of the world.
 
In return, what is required of local banks to offer now in light of the economic transformations the country is witnessing?
 
“Governmental and private” banks have made an effective contribution to turning the wheel of the economy over the past years, despite the many comments surrounding their work,
 
but some of these banks did not live up to the level of support they received, and 
others were preoccupied with achieving more profits at the expense of their development duties.

This is evident in the movement of money that flows through the daily currency auction with the aim of achieving more profits under the pretext of financing foreign trade in exchange for lower credit rates, which indicates the desired goal of creating these banking institutions whenever their rates rise.
 
While the deposit rates of many of these banks are declining due to the lack of attention to the  
focus of attracting customers and restoring confidence with the public, with the aim of
 
     withdrawing the cash mass and
     circulating it in credit operations, and then
     contributing to development processes,
     promoting the eradication of poverty, and
     reducing inequality, and   this is what is required.    https://alsabaah.iq/108366-.html 

Expectations For The Performance Of The Largest Arab Economies In 2025.. What About Iraq? 

2025-01-10 | Source: Al Jazeera Net 1,780 views  Alsumaria News - Economy A state of economic uncertainty continues in the world, including Arab countries , but there is optimism about economic performance in 2025 compared to last year, according to the expectations of the International Monetary Fund and the World Bank.
 
Last April, the IMF warned of “the increasingly prevailing state of uncertainty in light of the
 
     ongoing conflicts, the
     disruption of shipping traffic, and the
     decline in oil production,” and thus
 
“an uneven recovery has begun to emerge, with the pace of growth varying this year across East the Middle and Central Asia.”.
 
Last October, the World Bank published its “Economic Observatory for the Middle East and North Africa” report, which included expectations for GDP growth for countries in the region in 2025, in addition to many other indicators.
 
In terms of numbers, specialized websites collected the forecasts of the two international institutions and were as follows:
 
Saudi Arabia
 
Expectations of real GDP growth in the Kingdom for the year 2025 were 4.9%, compared to 1.6% in 2024, compared to a contraction of 0.8% in 2023, and compared to a growth of 7.5% in 2022.

As for the growth expectations of real GDP per capita for the year 2025, it was 3.5%, compared to 0.2% in 2024, compared to a contraction of 2.2% in 2023, and compared to a growth of 6.1% in 2022.
 
The World Bank's inflation forecast was 2.3% in 2025, compared to 2.1% in 2024.
 
The bank added, " Saudi Arabia is suffering from a public finance deficit, and it is expected that the deficit in the Kingdom will remain stable at 2% of GDP due to the decline in oil revenues and the expansionary public finance policy."
 
Qatar
 
Real GDP growth expectations in Qatar for 2025 reached 2.7%, compared to 2% in 2024, 1.2% in 2023, and 4.2% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 1.2%, compared to 2.3% in 2024, compared to a contraction of 3.1% in 2023, and compared to a contraction of 4.5% in 2022.
 
The World Bank’s expectations for the public finance balance of GDP for the year 2025 were 4.6%, compared to 4.2% in 2024, 5.6% in 2023, and 10.4% in 2022.
 
The report expected inflation in 2025 to reach 1.9%, compared to 1.3% in 2024.
 
Egypt
 
The World Bank expects the real GDP growth rate for the year 2025 at 3.5%, compared to 2.5% in 2024, 3.8% in 2023, and 6.6% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 1.9%, compared to 0.9% in 2024, 2.2% in 2023, and 4.9% in 2022.
 
The World Bank’s expectations for the proportion of the public finance balance to GDP in 2025 were about -7%, compared to -3.6% in 2024, -6% in 2023, and -6.2% in 2022.
 
The report expected inflation in 2025 to reach 17.2%, compared to 33.6% in 2024.

Morocco
 
Real GDP growth expectations in Morocco for 2025 were at 3.9%, compared to 2.9% in 2024, 3.4% in 2023, and 1.5% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 2.9%, compared to 1.9% in 2024, 2.4% in 2023, and 0.5% in 2022.
 
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -3.8%, compared to -4.2% in 2024, -4.4% in 2023, and -5.4% in 2022.
 
The report expected inflation in 2025 to reach 2.7%, compared to 1.5% in 2024.
 
Algeria
 
Real GDP growth expectations in Algeria for the year 2025 were at 3.8%, compared to 3.1% in 2024, 4.1% in 2023, and 3.6% in 2022.
 
Regarding the growth expectations of real GDP per capita for the year 2025, it was at the level of 2.4%, compared to 1.6% in 2024, 2.5% in 2023, and 1.9% in 2022.
 
The World Bank’s expectations for the proportion of the public finance balance to GDP were -9.9% for the year 2025, compared to -9.8% for the year 2024, -5.2% for the year 2023, and -3% for the year 2022.
 
The report expected inflation in 2025 to reach 4.9%, compared to 4% in 2024.
 
The UAE
 
Real GDP growth expectations in the UAE for the year 2025 were at 4.1%, compared to 3.3% in 2024, 3.2% in 2023, and 7.9% in 2022.
 
Growth expectations for real GDP per capita in 2025 were 3.4%, compared to 2.5% in 2024, 2.4% in 2023, and 7% in 2022.
 
The World Bank's expectations for the proportion of public finance balance to GDP in 2025 were 4.7%, compared to 4.9% in 2024, 5.1% in 2023, and 10.8% in 2022.
 
The report expected inflation in 2025 to reach 2.1%, compared to 2.2% in 2024.
 
Jordan
 
Real GDP growth expectations in Jordan for the year 2025 were at 2.6%, compared to 2.4% in 2024, 2.7% in 2023, and 2.6% in 2022.
 
Growth expectations for real GDP per capita in 2025 were 2.1%, compared to 1.9% in 2024, 2.2% in 2023, and 1.4% in 2022.
 
According to the World Bank’s expectations for the proportion of the public finance balance to GDP in 2025, it is likely to be -5%, compared to -5.3% in 2024, -5.1% in 2023, and -5.6% in 2022.
 
The report expected inflation in 2025 to reach 2.2%, compared to 2% in 2024.
 
Iraq
 
Real GDP growth expectations in Iraq for 2025 were 4%, compared to -0.9% in 2024, -2.9% in 2023, and 4.7% in 2022.
 
The World Bank expects the growth of real GDP per capita in 2025 to be 1.7%, compared to a contraction of 3% in 2024, a contraction of 5.1% in 2023, and a contraction of 2.4% in 2022.
 
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -7.4%, compared to -5.3% in 2024, 0.9% in 2023, and 14.1% in 2022.
 
The report expected inflation in 2025 to reach 3.3%, compared to 3.7% in 2024.    
  
https://www.alsumaria.tv/news/economy/512427/توقعات-أداء-أكبر-الاقتصادات-العربية-في-2025-ماذا-عن-العراق؟ 

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/