Iraq Economic News and Points to Ponder Late Tuesday Evening 4-22-25

UN Official: Iraq Is Witnessing Remarkable Progress In Various Fields And The Importance Of Continuing Its Partnership With The United Nations.

Time: 04/22/2025 10:55:59 Read: 2,445 times  {Political: Al Furat News} The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Mohammed Bahr Al-Ulum, received today, Monday, at the headquarters of the Ministry of Foreign Affairs in Baghdad, the Under-Secretary-General of the United Nations for Operational Support, Atul Khare, and his accompanying delegation, within the framework of joint coordination to implement UN Security Council Resolution No. (2732) regarding the termination of the mandate of the United Nations Assistance Mission to Iraq (UNAMI).

During the meeting, the Undersecretary of Foreign Affairs expressed, according to a statement from the ministry, a copy of which was received by {Euphrates News}, "the Iraqi government's appreciation for the important role played by the UNAMI mission since its establishment until today, stressing that the relationship between Iraq and the United Nations will enter a new phase of cooperation and partnership, based on the priorities of the next phase and the positive developments witnessed in Iraq."

The two sides discussed, according to the statement, "the mechanisms for implementing UN Security Council Resolution No. 2732, to ensure a smooth transition of the mission's tasks.

The Undersecretary affirmed Iraq's keenness to provide all facilities to ensure the implementation of this process in an organized manner, stressing Iraq's firm commitment to continuing constructive cooperation with the United Nations and its specialized agencies, based on its belief in the vital role played by the international organization in supporting stability and enhancing economic development efforts at the regional and international levels."

For his part, Khare praised the remarkable progress Iraq is witnessing in various fields and commended the Iraqi government's approach to consolidating internal stability and strengthening regional cooperation frameworks. He also emphasized the importance of continuing the partnership between Iraq and the United Nations as a fundamental pillar for supporting security and achieving sustainable development.

At the conclusion of the meeting, Khare expressed his appreciation for the Iraqi government's fruitful cooperation in the context of the gradual winding down of UNAMI's work, emphasizing that this cooperation represents a model of constructive coordination between member states and the United Nations.   LINK

Mr. Al-Hakim Calls For Encouraging Citizens To Deposit Their Money In Iraqi Banks.

Time: 2025/04/22 13:09:59 Read: 1,740 times  {Political: Al Furat News} The head of the National State Forces Alliance, Mr. Ammar al-Hakim, called for encouraging citizens to deposit their money in Iraqi banks.

A statement from his office, a copy of which was received by {Euphrates News}, stated that Mr. Al-Hakim received “this morning a number of Iraqi businessmen, headed by the head of the Iraqi Banks Association, Wadih Al-Handhal, and listened to their vision on reforming the banking sector in Iraq to keep pace with the state of urban and developmental progress in the country, and in all governorates.”

During the meeting, Mr. Al-Hakim stressed "the importance of keeping pace with global developments in this vital sector and linking the Iraqi banking system to the global banking system."

He called for "working to expand financial inclusion in banks, encouraging citizens to deposit their money in Iraqi banks, and turning this into a societal culture."

He pointed out the importance of granting loans to youth and the housing sector, as the latter stimulates many other productive sectors and provides job opportunities.  LINK

urdistan's Finance Ministry Announces The Transfer Of More Than 48 Billion Dinars Of Non-Oil Revenues To Baghdad.

Money and Business  Economy News – Baghdad  The Kurdistan Regional Government's Ministry of Finance and Economy announced on Tuesday that the federal treasury's share of non-oil revenues for March of this year has been transferred to the federal Ministry of Finance's account.

The ministry stated in a statement received by Al-Eqtisad News that “the transferred amount amounted to 48 billion, 205 million, and 765 thousand Iraqi dinars, and it was deposited in cash into the Federal Ministry of Finance’s bank account at the Erbil branch of the Central Bank of Iraq.”

The Kurdistan Regional Government's Ministry of Finance and Economy previously transferred approximately 52 billion dinars in non-oil revenues to the federal treasury in Baghdad in February. https://economy-news.net/content.php?id=54714

An Expert Identifies The Missing Link To Diversifying Sources Of Income And Achieving Economic Reform.

Time: 2025/04/21 22:36:51 Read: 3,120 times  {Economic: Al Furat News} Economic expert Qusay Safwan identified the missing link in the path to diversifying sources of income and achieving economic reform in Iraq. He noted that controlling corruption begins with the banking sector and is linked to understanding revenue risks and the behavior of the Iraqi dinar at border crossings.

During his appearance on the "Free Talk" program on Al Furat TV channel this evening, Safwan explained that "economic diversification cannot be achieved without regulating these outlets, which are a tool for protecting local production and developing investment." He indicated that "reforming the financial sector requires rehabilitating banks through mergers, partnerships, and specialization."

He stressed that "these goals are still far off, and the real beginning lies in developing the human resources working in the banking sector, especially since most Iraqi banks focus their grants on the housing sector."

Safwan explained that "the Central Bank's policy is geared toward supporting financial inclusion, as 40% of individuals use electronic banks, a matter linked to suspicions of money laundering." He called for "providing incentives to credit card holders and motivating them through tax exemptions and import facilitation, which would enhance the conversion of the dinar into hard currency through the Central Bank."

He pointed out that "the Central Bank alone cannot reform the Iraqi economy in light of the lack of control over border crossings and the citizens' lack of trust in banks," emphasizing that "investing in technology is costly, but necessary and yields tangible benefits for shops and businesses."

Safwan revealed that "Iraq has $100 billion in the US Federal Reserve," emphasizing "the need to eliminate intermediaries and build a direct relationship between producers and consumers," warning that "corruption is greater than the support available at the outlets."

He added, "Private banks were established as joint-stock companies, and their shares are now denominated below the dinar mark and are available to all." He called on the Central Bank to "address the dispute between it and the Companies Registrar regarding dividend distribution, which is prompting small shareholders to sell their shares to major investors."

Safwan concluded by saying, "Government banks need a comprehensive restructuring to drive development and create investment portfolios for agricultural, industrial, and commercial cities." He also highlighted the need to integrate the local market with global markets, similar to the Gulf banks, and attract $350 billion domestically.  LINK

 

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 4-23-25

Good Morning Dinar Recaps,

TRUMP WARNS: “PERFECT TIME” FOR FED RATE CUTS — WILL JEROME POWELL LISTEN?

▪️Trump clarified he won't fire Powell but strongly urges the Fed to cut rates, citing global easing.

▪️Markets reacted with cautious optimism, as trade tension easing and Trump's comments influenced Bitcoin and treasury yields.

▪️The Fed remains cautious, balancing inflation with potential tariff impacts, despite Trump's pressure for rate cuts.

The debate over Federal Reserve rate cuts is heating up again. President Donald Trump says he’s not firing Fed Chair Jerome Powell — but he’s clearly running out of patience. In classic Trump style, the message is direct, the pressure is rising, and the markets are watching closely.

Here’s what’s unfolding behind the scenes.

“Perfect Time” for Action, Says Trump

Speaking to reporters, Trump called it the “perfect time” for the Fed to lower interest rates. He dismissed growing speculation about Powell’s removal but didn’t hold back on criticism of the Fed’s slow pace.

“I’m not firing Powell,” Trump said, blaming the media for the rumors. But he added that Powell should be moving faster, especially as other global central banks are already easing their policies.

“He should act early or on time, not late,” Trump said, signaling that the Fed’s current approach could soon fall behind the curve.

Bitcoin Breaks $90K as Market Reacts

Despite Trump’s strong remarks, broader markets stayed steady. But Bitcoin surged past the $90,000 mark, boosted by optimism from both Trump’s comments and new statements from the U.S. Treasury Secretary, who called the trade war with China “unsustainable.”

Short-term Treasury yields edged up to 3.82% after a weak government bond auction, while the U.S. dollar held its ground. Investors appeared cautiously optimistic about easing trade tensions.

Analysts: Trump Is Managing Expectations

Analysts say Trump’s push for rate cuts might be more about shaping public expectations than actually threatening Powell’s role. While Trump says Powell is safe, his public pressure could serve to redirect blame if economic growth slows.

This isn’t the first time Trump has publicly criticized the Fed — and likely won’t be the last.

Fed Holds Course as Inflation Stays High

For now, the Federal Reserve is staying the course. Powell’s position appears secure, and Fed officials are focused on evaluating the long-term effects of Trump’s trade, tax, and immigration policies.

With inflation still running above the 2% target for the fourth year in a row, most Fed members believe current interest rates are appropriate.

Growth Risks Could Force a Rethink

Still, some economists warn that the ripple effects of Trump’s tariffs could slow growth later this year. If that happens, the Fed may have no choice but to revisit its stance.

Rate cuts may not be off the table — even if Powell continues to resist political pressure.

With Wall Street rebounding and Trump increasing his calls for action, one thing is clear: the Trump vs. Powell rate debate isn’t going away anytime soon.

For now, Powell keeps his seat and his stance — but the clock is ticking, and everyone knows it.

@ Newshounds News™
Source:  Coinpedia

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XRP IS THE COIN WITH ‘THE MOST UTILITY,’ SAYS TEUCRIUM CEO

In an interview on Bloomberg Crypto with anchors Tim Stenovec and Katie Greifeld, Teucrium Trading’s chief executive officer (CEO) Sal Gilbertie argued that XRP is the crypto asset with “the most utility” in the entire space.

“Ripple’s a company of really professional people working really hard on this. That’s why we chose XRP. We believe in XRP. We’re not making a price prediction, but we do believe it’s a coin that will have the most utility out there. You know Bitcoin is a store of value […] but I think that XRP has a true use case,” Gilbertie remarked.

He further highlighted the professionality of the Ripple team which is a big reason the company believes in the crypto asset: “There’s just no doubt about it in the Ripple team from what the interaction we’ve had with them […] They act like investment bankers over there. They know what they’re doing and they will make this work.”

Teucrium’s 2x Long XRP ETF

Teucrium launched the first XRP-based exchange-traded fund (ETF) in the United States on April 8. The Teucrium 2x Long Daily XRP ETF, traded under the ticker XXRP on NYSE Arca, is a 2x leveraged fund aiming to provide twice the daily return of the token.

The ETF’s launch coincided with a sharp rebound in the underlying token. While Teucrium cannot see its shareholder register in real time, Gilbertie believes early flows reflect “a mix of professionals and retail trading their own accounts.” XXRP is engineered explicitly for intraday traders, he emphasized: 

“This specific product is geared toward traders who have a short-term view—primarily a one-day view—of what XRP’s price moves might be. This allows them in a traditional brokerage account to achieve leverage without a margin account.”

Gilbertie acknowledged that such magnified exposure is unsuitable for naïve investors. “Of course it’s risky. Leveraged funds are always risky and people need to be very careful,” he cautioned, adding: “I hope that the non-sophisticated traders do their homework first before they set foot in this.”

The conversation also illuminated a shifting regulatory atmosphere in Washington. Gilbertie contrasted the Securities and Exchange Commission’s current leadership with its prior stance under former Chair Gary Gensler, without naming him directly but characterizing the previous regime as “a blocker” to digital-asset innovation.

“The old SEC regime was a blocker…worked against the crypto industry,” he said. By contrast, the gap between administrations—during which newly confirmed Chair Paul Atkins and the fresh slate of commissioners were still settling in—created a moment when Teucrium’s application could proceed.

“We applied as soon as we could, meaning the old regime had left and wouldn’t block us, and we simply listed as soon as we could following the normal rules. The staff is really wonderful at the SEC…It’s the leadership that matters.”

XXRP’s methodology relies on daily rebalancing of swap positions to deliver twice the token’s move—up or down—over a single trading session. Compounding makes the fund unsuitable as a long-term proxy, an intrinsic feature common to all daily leveraged products but one the firm has gone to pains to highlight in its prospectus. Gilbertie underscored that message: “Volatility is the point. You want the action,” but traders must understand that the action cuts both ways.

For now, Gilbertie is betting that the community’s zeal, combined with a friendlier SEC stance, will keep volume humming. “We thought the time was right,” he concluded, “and so far the market seems to agree.”

At press time, XRP traded at $2.24.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 4-23-2025

TNT:

Tishwash:  The Iraqi Stock Exchange joins the "Tabadul" platform in cooperation with the Abu Dhabi Securities Exchange.

A memorandum of understanding was signed today, Wednesday, for the Iraq Stock Exchange to join the "Tabadul" platform, in cooperation with the Abu Dhabi Securities Exchange.

During his participation in the signing ceremony, Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, said, "Iraq's accession to the exchange platform represents a qualitative leap in the development of the Iraqi financial market infrastructure, strengthens regional economic partnerships, and opens new horizons for local and international investors."

At the end of 2024, the Authority's Chairman discussed with the CEO of the Abu Dhabi Securities Exchange Group, Abdullah Salem Al Nuaimi, the signing of a joint cooperation agreement aimed at exchanging expertise and developing work mechanisms in the capital markets, according to a statement issued by the Iraqi Securities Commission.  link

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Tishwash:  Talabani calls on Japan to expand its investments in the region.

Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan (PUK), received Akira Endo, Japanese Ambassador to Iraq, in Sulaymaniyah.

During the meeting, the two sides discussed the latest developments in the Middle East and emphasized the need for a peaceful resolution to problems. Both sides agreed to expand cooperation and bilateral relations between the Kurdistan Region and Japan at all levels.

According to a statement from his media office, Talabani spoke about the active participation of Japanese companies and investors in the Kurdistan Region's markets, expressing hope that Japan would expand its investments in the Kurdistan Region to strengthen infrastructure and provide job opportunities.  link

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Tishwash:  The International Monetary Fund expects a decline in the inflation rate in Iraq.

The International Monetary Fund (IMF) predicted in a report issued in April of this year the inflation rate for Arab countries, indicating that Iraq's inflation rate will decline slightly in 2025.

According to data reviewed by Shafaq News Agency, "the annual inflation rate in Iraq recorded 2.6% in 2024, compared to 4.4% in 2023 and 5% in 2022."

The IMF expects Iraq's inflation rate to decline slightly in 2025 to 2.5%, rise to 2.7% in 2026, and reach 3% in 2030.

According to the data, Bahrain is expected to experience the lowest inflation rate among Arab countries in 2025, at 1%, while Sudan will have the highest inflation rate, at 100%.  link

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Tishwash:  MP: The budget cannot be delayed and Parliament will discuss it next week.

State of Law Coalition spokesman MP Aqeel Al-Fatlawi announced that Parliament will discuss the budget law next week .

Al-Fatlawi said, "The House of Representatives will discuss the budget law in next week's sessions. The budget cannot be halted or delayed. Rather, there is sufficient time to approve it before the end of the current parliamentary session." 

Last February, the House of Representatives voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023 link

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Mot: .. when da ""Truth"" beeee Known!!!

Mot: Go to the petting zoo, they said. It'll be fun, they said.. 

Iraq Economic News and Points to Ponder Tuesday Afternoon 4-22-25

Gold Reserves
 
Economic 04/20/2025  Mohammed Sharif Abu Maysam   Amid the ongoing tensions in the world and the Middle East,  purchasing gold is among the most important options for diversifying monetary reserves.
 
This is crucial to  counteracting political fluctuations that directly and indirectly impact the economy and the inflationary situation,  which impacts overall market prices,  including exchange rates and the prices of goods and services.  This is a key element in ensuring a significant national security instrument.
 
Gold is economically known as a safe haven against the volatility of currencies and prices in energy and other commodity markets under complex circumstances.

Accordingly, the components of monetary policy in our country (which was and still is under the influence of international and regional factors and variables, in addition to a set of internal data and speculation that is constantly returning to the forefront to have a significant impact on market movement and monetary stability) are in dire need of diversifying reserves and increasing their savings in gold,
 
which is distinguished from other reserves by its ability to maintain its material value under various circumstances.
 
The Central Bank of Iraq's recent announcement that Iraq possesses one of the highest gold reserves among Arab countries, at 162 tons, had a positive impact on observers and the general public.
 
It had a positive impact on public opinion on the street, increasing the confidence of the banking public and those following monetary policy.
 
This, in turn, establishes a public opinion that trusts the local currency and the national economy.
 
It is well established that gold has an advantage when compared to paper currency, which has no fixed assets.
 
This gives the national economy a high degree of stability and reliability, even in the event of shocks resulting from changes or decisions issued by international bodies that attempt to link the Iraqi economy to their own decisions.
 
The greater the gold reserve compared to cash reserves (which are supposed to be diversified),
the greater the ability of the person in charge of monetary policy to ward off any risks that may befall the economy,
while also activating the role of other real sectors and increasing their contribution to the gross domestic product.
 
In the context of our ambitions,
we hope that Iraq will occupy a prominent position on the list of countries with rising gold reserves.

This position not only provides monetary policymakers with flexibility in decision-making,
but also contributes to providing the overall economy with a buffer against anticipated economic problems amid the fluctuations witnessed in our region and the world.
 
It also strengthens national security,  which is linked to economic security.      https://alsabaah.iq/113123-.html    

Government Banking Reforms And Their Role In Bypassing Sanctions... A Banking Researcher Explains.
 
April 16, 2025  Baghdad/Iraq Observer   The Iraqi government, in cooperation with the Central Bank of Iraq, has prepared a plan of  (3) main objectives in cooperation with an American consulting company, (Olver & Amin), to
 
     reform and modernize the banking sector, with the aim of
     enhancing the protection of depositors and creditors and
     improving confidence in the sector,  after difficulties related to the transfer of funds and American restrictions.
 
After the sanctions, the term “messaging accounts” emerged.
 
Mustafa Hantoush, an expert in financial and banking affairs, confirms that  private banks have faced major problems, most notably US sanctions,  which necessitated a detailed study to change the situation affecting these banks.
 
Speaking to the Iraq Observer, Hantoush said, “Regarding  the private banking sector, which has faced problems over the past three years related to US sanctions,  the term ‘correspondent accounts’ emerged as Iraqi banks faced operational disruptions, and the state attempted to address the situation in collaboration with an American consulting firm called Oliver & Amin.”

He added,  "The American firm Oliver & Amin conducted studies on sanctioned Iraqi banks over a five-month period and submitted a three-point report, the  first of which is that companies with real capital can develop themselves and circumvent sanctions by opening future accounts with JPMorgan."

 He continued, "While there are private banks that lack the necessary capabilities, they are merging with international banks, which is a step available to them." He added, "Regarding the third point, which concerns banks facing liquidity problems, they may face collapse and exit the sector."

He pointed out that “the steps to amend (government banks) have begun to accelerate towards the step of establishing Rafidain and Rashid Banks, but the special nature of these banks remains that they have large international obligations, including those related to debts during the Iran-Iraq war.

However, at the same time, a huge bank will be formed through these banks, stronger than the TBI, and
it will be the hand of the new state to enter into banking operations.”
 
The person in charge of financial and banking affairs stated that "the government established the First Rafidain Bank, which contributes 24% to the state and 76% to the private sector."
 
Prime Minister Mohammed Shia al-Sudani had previously sponsored the Iraqi Banking Sector Reform Conference, emphasizing that the government assumed responsibility amid a complex economic climate that required measures to achieve stability and ensure growth.

He pointed to the achievements made in the financial, banking, and economic sectors,
which represented positive steps toward establishing a solid foundation for development and investing in stability.     https://observeriraq.net/الاصلاحات-المصرفية-الحكومية-ودورها-ب/ 

The Central Bank Concludes Its Session On The Basel Committee's Decisions.
 
April 21, 2025   The Banking Studies Center at the Central Bank of Iraq concluded its course on the Basel Committee’s decisions and the  Self-Assessment of Capital Adequacy (ICAAP) in accordance with the second pillar of Basel (3) decisions.
 
(53) trainees from the departments of Finance, Risk, Internal Audit, Credit, and Compliance in a number of Iraqi banks participated in the course.
 
The training program for the participants included a complete vision of the Basel Committee’s decisions (3), especially the second pillar of those decisions related to the
 
self-assessment of capital adequacy, as well as identifying the practices related to calculating (ICAAP)
to reach an understanding of the skills of assessing capital adequacy.    
Central Bank of Iraq      Media Office      April 21, 2025  https://cbi.iq/news/view/2858 

Tax Reform: A Step Towards Diversifying Revenues And Achieving Justice.
 
Economic 04/16/2025  Baghdad: Nour Najah Abdullah  Given the economic challenges facing the country,   tax reform is at the top of government policy priorities.
 
It is a crucial step toward reducing reliance on oil revenues, which continue to constitute the backbone of the general budget.
 
Although tax revenues in Iraq do not exceed 1 to 2 percent of GDP—a low figure compared to international standards—
 
there is broad consensus among experts on the need to move forward with comprehensive and radical reforms that will contribute to building a fair, effective, and balanced tax system.

Financial and economic experts believe that the starting point for reform is to expand the tax base to include all economic activities, whether in the formal or informal sector, while ensuring that the liberal professions and the service and commercial sectors contribute to the public treasury.
 
This requires a comprehensive update of taxpayer records, through the creation of an accurate central database encompassing individuals, companies, and institutions, enabling the tracking of income and the accurate and transparent assessment of tax liabilities.
 
Experts stress the importance of adopting a progressive tax system that imposes higher rates on high-income and large-profit individuals, while granting tax exemptions or reductions to low-income families and individuals.
 
This is intended to achieve social justice and reduce the economic gap between social classes. 

Amending Income Tax Law No. 113 of 1982 is also urgent, given its outdated provisions and their failure to keep pace with the economic and financial transformations that Iraq has witnessed over the past decades.
 
Speaking to Al-Sabah, economic expert Nabil Jabbar Al-Tamimi argues that  true reform can only be achieved through a radical change in the legislative and institutional structure.
 
He calls for rewriting tax laws to align with the nature of the contemporary Iraqi economic system, and for the establishment of a new authority built from scratch and managed by young cadres who have never worked within the traditional tax system, but rather possess academic qualifications and experience in global tax systems.

Al-Tamimi also emphasizes the need to fully automate the system and utilize technology in all aspects of the process, from assessment to collection, to enhance efficiency and transparency and reduce the opportunities for manipulation and corruption.
 
For his part, economic expert Ziad Al-Hashemi told Al-Sabah that the most prominent challenges facing the tax system in Iraq are the outdated legislation and administrative mechanisms in place, which have led to weak tax coverage and declining collection efficiency.

 He believes that modernizing the system requires simplifying procedures, increasing the efficiency of staff, developing internal oversight tools, and enhancing transparency in the relationship between citizens and the state, which will reduce tax evasion rates and increase voluntary compliance.

Financial expert Safwan Qusay points out that tax justice cannot be achieved without accurately digitizing and documenting income across various sectors, including agriculture, trade, and services, while raising exemption limits for individuals and poor families to protect them from the negative effects of the reform.
 
He suggests tracking the bank accounts of companies and individuals to verify sources of income and spending patterns, which would contribute to building a clear picture of taxpayers' financial solvency. In a statement to Al-Sabah,
 
he called for linking the tax to citizens' desires for public spending, so that a percentage of it would be directed to specific sectors such as education or health, based on the taxpayer's choices.
 
This would enhance community oversight and confidence in the effectiveness of the tax system.
 
In contrast, Mazhar Mohammed Saleh, the Prime Minister's advisor for financial affairs, confirms that the government has already launched eight tax reform packages, the most important of which are the  
introduction of new segments of market forces that previously evaded taxes, and the adoption of electronic collection to reduce friction between citizens and employees.
 
Saleh compares Iraq to countries like Denmark, where income tax amounts to approximately 46 percent of GDP.
 
This explains the ability of those countries to fund high-quality education, health, and social security.
 
In Iraq, this percentage does not exceed 2 percent, reflecting the fragility of the tax base and the continued overreliance on oil revenues.
 
Saleh points out that the government's program aims to increase non-oil revenues to 20 percent of total public revenues in the near future, up from the current rate of only about 7 percent.
 
This will be achieved by expanding the taxable population, adopting modern technological systems, and amending legislation, including the Income and Property Tax Law, which has not been updated in more than four decades.
 
Despite the clarity of the reform vision and the multitude of initiatives, challenges remain, most notably the lack of trust in tax institutions, the inadequacy of technical infrastructure, and the absence of a culture of voluntary compliance among broad segments of society.
 
Furthermore, there is a lack of good governance in directing tax revenues toward development spending.
 
Observers believe that success in this vital issue will only be achieved through strong political will, profound administrative reform, and an effective partnership with the private sector and civil society to build a modern and fair tax system that keeps pace with Iraq's aspirations for development and economic stability.      https://alsabaah.iq/112971-.html   

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

Seeds of Wisdom RV and Economic Updates Tuesday Evening 4-22-25

Good Evening Dinar Recaps,

CIRCLE LAUNCHES 'CIRCLE PAYMENTS NETWORK'

The new network will use stablecoins such as USDC and EURC to help financial institutions facilitate global money movement and settlement.

USDC Issuer Circle Debuts Payments Network

Stablecoin firm Circle, issuer of USDC which currently has a market capitalization of roughly $61 billion, has launched “Circle Payments Network (CPN),” a collaborative group of financial institutions that use stablecoins to enable global movement and settlement of funds.

The company announced the network launch on Monday and said more than 20 financial institutions have already signed on. Circle listed companies such as remittance giant World Remit, Nigerian financial services firm Yellow Card, and crypto custody firm Fireblocks, as initial partners.

Large banks like Standard Chartered and Deutsche Bank will take on an advisory role, and more companies will be gradually added to the network.

CPN’s goal is to take advantage of the flexibility stablecoins offer to overcome current operational friction in cross-border payments. Circle says CPN will support remittances, invoice payments, treasury services, and payroll.

“Existing cross-border payments can be slow and expensive,” Circle said in an X post. “CPN is designed to bring efficiencies to the payments system. It is not just faster. It is programmable, secure, and always available.”

@ Newshounds News™
Source:   Bitcoin News

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TRUMP MEDIA TO LAUNCH ‘A SERIES’ OF ETFS IN NEW PARTNERSHIP WITH CRYPTO.COM

Trump Media and Technology Group (TMTG) announced Tuesday a collaboration with Crypto.com to introduce a series of exchange-traded funds (ETFs) under its Truth.Fi brand.

According to a new press release, the planned ETFs will focus on digital assets and securities, emphasizing a “Made in America” theme, marking TMTG’s entry into financial services.

The company stated that regulatory approval is still required, and the ETFs are expected to debut later this year.

Says TMTG CEO and Chairman Devin Nunes,

“This agreement is a major step forward in diversifying TMTG into financial services and digital assets. We’re gratified to work with great partners, Crypto.com and Yorkville America Digital, and look forward to bringing ETFs to the market for investors who believe both the American economy and digital assets are poised for tremendous growth.”

The partnership also includes Yorkville America Digital, an asset management firm specializing in ETFs and digital assets.

Crypto.com and Yorkville representatives both highlighted the growth potential of this venture.

Says Kris Marszalek, Co-Founder and CEO of Crypto.com,

“Crypto.com is the leading platform to bridge crypto and traditional finance, and this agreement is a testament to those capabilities.

This partnership gives the Trump Media ETFs global distribution powered by the Crypto.com platform. It’s a win for Trump Media, Crypto.com, CRO, and Yorkville America Digital.”

@ Newshounds News™
Source:  The Daily Hodl

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 4-22-25

Good Afternoon Dinar Recaps,

BRICS: US & INDIA FINALIZE TERMS OF REFERENCE FOR NEW TRADE DEAL

Despite the tensions between the nation and the BRICS alliance, the US and India have reportedly finalized terms of reference for a new trade deal. Indeed, US Trade Representative Jamieson Greer confirmed the major development amid US Vice President JD Vance’s visit to the country, according to a CNBC report.

Moreover, Greer noted that the United States and India’s Ministry of Commerce and Industry have clearly laid out “a roadmap for the negotiations on reciprocal trade.” The major headway was confirmed as Vance traveled to India, meeting with President Narendra Modi on Monday.

US Vice President Meets With Indian President as New Trade Deal Takes Step Forward

Since the start of April, tensions between the United States and the BRICS alliance have been growing. Specifically, the country is inching closer toward a trade war with China. Indeed, amid a series of sweeping global tariffs, they levied an import duty that could reach heights of 245% on China.

However, that hasn’t stopped allies within the economic alliance from seeking a new agreement with the country. Indeed, the US and India have reportedly finalized the terms of reference for a new trade deal. The development was made as US Vice President JD Vance visited the nation, meeting with President Narendra Modi.

According to reports, the two sides have made “significant progress” towards a new trade deal. Both world leaders made note of their “continued efforts” to grow their collaboration. Moreover, they championed the need for a “mutually beneficial India-US bilateral trade agreement.”

During the initial arrival of US President Donald Trump’s Liberation Day tariff plan, India was given a 26% reciprocal tariff. However, that was lessened when the administration announced a 90-day pause. Subseuqnlety, until it resumes, the nation is facing a 10% baseline tariff alongside all US trade partners.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

THE GREAT RESET JUST TOOK A MAJOR HIT

On the same day Pope Francis—known for his inclusive beliefs—passed away, another globalist fell: Klaus Schwab, the architect of the World Economic Forum's dystopian agenda, announced he was stepping down from the WEF board.

It marks the end of an era for Schwab, who championed radical wokeness, bug eating, mass vaccination campaigns, population control, and climate de-growth policies through what often resembled digital communism—social credit scores, central bank digital currencies, and many more China-like policies.

 Meanwhile, cultural shifts across the Americas signal a rising movement toward traditional values, sending the WEF's ideological woke grip on governments, non-government organizations, corporations, the church, and society into disarray.

"Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect," Schwab wrote in a statement.

Schwab stepped down as executive chairman one year ago, with former Norwegian Foreign Minister Borge Brende taking over daily operations. WEF said Vice Chairman Peter Brabeck-Letmathe was appointed board chairman in the interim and that a search committee for replacement had been appointed.

WEF stated:

"At a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical. The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration."

Schwab’s resignation also comes three months after President Trump told globalist CEOs at the WEF’s 2025 Annual Meeting in Davos, Switzerland, “America is back.” It also follows Trump and Elon Musk’s DOGE initiative, which nuked USAID programs that funneled billions of taxpayer dollars into corrupt NGOs.

Last month, Eric Weinstein made some very interesting comments at ARC 2025, indicating:

"The post-World War II order has fallen. JD Vance has announced this - I personally think it's very important that the US treat its friends in Europe very very well and it should be done in a fashion that lets people know that the US will be there for the long haul. I am sure that that is in the cards, but we have to realize that we are waking up from a very long period of time which I've called the "Great Nap"..."

Did Trump's MAGA derail Schwab's 'Great Reset' plans?

Looks like it. But globalists will rebrand. So stay tuned.

@ Newshounds News™
Source:  Vigilantfox

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 4-22-25

Good Morning Dinar Recaps,

PAUL ATKINS OFFICIALLY SWORN IN AS SEC CHAIR, SIGNALS SHIFT TO CRYPTO-FRIENDLY APPROACH

Paul Atkins was sworn in on Monday as the 34th Chairman of the US Securities and Exchange Commission (SEC), marking a significant shift toward a more crypto-friendly regulatory stance.

Atkins’ appointment signals a departure from former Chair Gary Gensler’s aggressive enforcement strategy against digital asset firms. In his opening remarks, Atkins reaffirmed the SEC’s mission to promote capital formation, ensure fair markets, and protect investors.

He emphasized the need for clear and consistent regulation, stating that his experience in both public service and the private sector has shown him how regulatory uncertainty can stifle innovation.

Atkins To Exit Patomak Following SEC Appointment And Crypto Focus

Atkins, who founded Patomak Global Partners in 2009 to help develop digital asset standards, pledged to step down from his role at the firm within 90 days. His nomination passed narrowly, with 52 Republican votes in favor and 44 Democrats opposing.

Senator Elizabeth Warren had previously pressed Atkins to disclose Patomak’s advisory work with crypto companies, including ties to the collapsed FTX exchange.

During his Senate confirmation, Atkins criticized previous regulatory approaches as overly complex and politicized. He committed to leading the SEC with what he described as a “rational and principled” framework, aimed at fostering innovation rather than hindering it.

Atkins takes over from Gensler, whose tenure was marked by numerous lawsuits against crypto firms for alleged securities violations.

Since Gensler’s departure, acting Chair Mark Uyeda and Commissioner Hester Peirce have already moved to dismiss many of these cases and eased oversight on sectors like meme coins and crypto mining.

Known for his strong Wall Street connections, Atkins’ financial disclosures revealed investments of up to $5 million in digital asset firm Off the Chain Capital LLC. With a combined net worth of approximately $327 million, Atkins becomes one of the wealthiest SEC chairs in recent history.

As the SEC transitions under Atkins’ leadership, it faces a backlog of over 70 crypto-related ETF applications involving assets like Solana, XRP, Dogecoin, and MELANIA. Bloomberg analyst Eric Balchunas summed up the sentiment on X, saying, “Gonna be a wild year.”

SEC Changes Crypto Enforcement Strategy

Last month, the SEC officially ended its investigation into Australian-based crypto gaming firm Immutable, bringing a significant chapter in the company’s regulatory journey to a close.

The SEC’s move to close the Immutable case is part of a broader trend in its crypto enforcement strategy. In recent months, the agency has also dropped investigations into other major crypto firms, including OpenSea, Uniswap, Robinhood, and Gemini.

To enhance regulatory clarity, the SEC has also launched a crypto-focused task force led by Commissioner Hester Peirce.

Meanwhile, Ripple is nearing the end of its own legal battle with the SEC. A March 26 update confirmed Ripple will not pursue a counter-appeal after the SEC agreed to drop its appeal earlier this month.

The company will pay a reduced fine of $50 million, down from the initially proposed $125 million.

@ Newshounds News™
Source:  99Bitcoins

~~~~~~~~~

ECB FLAGS RISK OF FINANCIAL CONTAGION FROM US CRYPTO PUSH

The ECB is calling for changes to MiCA, only months after the regulatory framework was implemented.

The European Central Bank (ECB) raised an alarm over potential fallout from aggressive US support for the crypto industry, warning that a surge in dollar-backed stablecoins could destabilize Europe’s financial system.

According to a policy paper seen by Politico, the ECB has asked for a revision of the Markets in Crypto-Assets Regulation (MiCA) regulatory framework for cryptocurrencies just months after it came into effect.

The concern is that US reforms backed by President Donald Trump could flood European markets with dollar-denominated stablecoins.

The ECB fears this could trigger a flight of European capital into US assets, undermining EU financial sovereignty and exposing banks to liquidity risks.

ECB and European Commission clash over MiCA rules

While the ECB calls for tighter controls, the European Commission dismissed the warnings as exaggerated, per the report.

The report, citing two diplomats and one EU official, said that the existing MiCA framework is robust enough to manage stablecoin risks despite potential US policies like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS), two bills aimed at expanding America’s crypto footprint.

“The Commission was quite clear that they had different views on this topic,” and “not very many (countries) supported the idea that we should now jump the gun and start making quick changes in (the rules) based on this alone,” one of the diplomats reportedly told Politico.

The stablecoin sector now commands a valuation of $234 billion, according to data from CoinMarketCap.

The ECB warned that European issuers could face redemption pressures from EU and foreign holders without stricter limits, potentially sparking a financial “run” and harming exposed institutions.

“The worry is warranted,” Mikko Ohtamaa, co-founder and CEO at Trading Strategy, said in a post on X. “However, the EU had the first mover advantage with the regulation and they screwed it up.”

Ohtamaa said no EU stablecoin is globally competitive due to MiCA’s restrictive rules, which are influenced by bank and legacy finance lobbying.

Tether remains a major critic of MiCA
Tether, the issuer of the world’s largest stablecoin, USDt (USDT), has long been a critic of the EU’s MiCA regulation.

Last year, Tether CEO Paolo Ardoino argued that MiCA’s requirements, particularly the mandate for stablecoin issuers to hold at least 60% of reserves in EU bank accounts, could introduce systemic risks to both stablecoins and the broader banking system.

Due to noncompliance with MiCA, USDT has faced delistings from major European exchanges, including Coinbase, Crypto.com and Kraken.

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 4-22-2025

TNT:

Tishwash:  The Central Bank renews its warning against trading in withdrawn banknotes.

In recent years, this bank has observed the circulation of foreign banknotes from various countries, some of which are genuine and in circulation, others withdrawn from circulation, and some counterfeit. Such banknotes are used by unscrupulous outlaws to defraud citizens by luring them into exchanging them for Iraqi dinars at prices far exceeding their actual value.

They claim that exchanging them offers them significant profits and rare investment opportunities.

Therefore, the Central Bank of Iraq calls upon the public and the specialized security and regulatory agencies to monitor these matters and refrain from handling these banknotes. They should focus on Iraqi banknotes and those handled by the Central Bank of Iraq and the banking system, to avoid falling prey to outlaws.

Central Bank of Iraq

Media Office  link

Foreign banknotes withdrawn from circulation

Tishwash:  Federation of Chambers of Commerce: Visit of American companies resulted in a regulatory work agreement for the private sector

The Federation of Iraqi Chambers of Commerce affirmed on Monday that the visit of American companies is a message to the world that Iraq is a safe environment. It also explained that the visit resulted in an agreement on a regulatory framework for the private sector.

Abdul Razzaq Al-Zuhairi, head of the General Federation of Iraqi Chambers of Commerce, told the Iraqi News Agency (INA): “The visit of American companies to Iraq to invest and work with Iraqi businessmen is a positive and important step for Iraq.”

He explained that "Iraq is a fertile environment, and the visits of American companies to Iraq are a positive message to all countries of the world that Iraq is a safe environment."

He added, "American companies have signed numerous agreements with the Iraqi private sector in the fields of electric power and renewable energy. The most important memorandum is the signing of a regulatory framework between the Iraqi and American private sectors by the American Chamber of Commerce and the Iraqi Chamber of Commerce."

He pointed out that "a number of American companies have signed agreements with the private sector, most notably the global company Google, which is seeking to enter Iraq. Its representative came and wrote a positive message about Iraq, stating that Iraq is safe, which is an important message to the world  link

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

Tishwash:  An expert identifies the missing link to diversifying sources of income and achieving economic reform.

Economic expert Qusay Safwan identified the missing link in the path to diversifying sources of income and achieving economic reform in Iraq. He noted that controlling corruption begins with the banking sector and is linked to understanding revenue risks and the behavior of the Iraqi dinar at border crossings.

During his appearance on the "Free Talk" program on Al Furat TV channel this evening, Safwan explained that "economic diversification cannot be achieved without regulating these outlets, which are a tool for protecting local production and developing investment." He indicated that "reforming the financial sector requires rehabilitating banks through mergers, partnerships, and specialization."

He stressed that "these goals are still far off, and the real beginning lies in developing the human resources working in the banking sector, especially since most Iraqi banks focus their grants on the housing sector."

Safwan explained that "the Central Bank's policy is geared toward supporting financial inclusion, as 40% of individuals use electronic banks, a matter linked to suspicions of money laundering." He called for "providing incentives to credit card holders and motivating them through tax exemptions and import facilitation, which would enhance the conversion of the dinar into hard currency through the Central Bank."

He pointed out that "the Central Bank alone cannot reform the Iraqi economy in light of the lack of control over border crossings and the citizens' lack of trust in banks," emphasizing that "investing in technology is costly, but necessary and yields tangible benefits for shops and businesses."

Safwan revealed that "Iraq has $100 billion in the US Federal Reserve," emphasizing "the need to eliminate intermediaries and build a direct relationship between producers and consumers," warning that "corruption is greater than the support available at the outlets."

He added, "Private banks were established as joint-stock companies, and their shares are now denominated below the dinar mark and are available to all." He called on the Central Bank to "address the dispute between it and the Companies Registrar regarding dividend distribution, which is prompting small shareholders to sell their shares to major investors."

Safwan concluded by saying, "Government banks need a comprehensive restructuring to drive development and create investment portfolios for agricultural, industrial, and commercial cities." He also highlighted the need to integrate the local market with global markets, similar to the Gulf banks, and attract $350 billion domestically. link

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

Mot: Warning -- Warning --- Warning --- 

Mot:  and the Problem Is???? 

MilitiaMan & Crew: Iraq dinar-News-WTO data-International Companies-Airline Travel-Security & Stability-Exchange Rate

MilitiaMan & Crew:  Iraq dinar-News-WTO data-International Companies-Airline Travel-Security & Stability-Exchange Rate

4-21-2025

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=zAT8STwArZo

Seeds of Wisdom RV and Economic Updates Monday Evening 4-21-25

Good Evening Dinar Recaps,

INCOMING SEC CHAIR TO WEIGH MORE THAN 70 CRYPTO ETF FILINGS—INCLUDING SOLANA AND XRP

Spot crypto ETFs are currently limited to Bitcoin and Ethereum in the U.S., but analysts expect new approvals this year.

▪️Incoming SEC Chair Paul Atkins will have more than 70 crypto ETF hopefuls to review when he begins in the role.

▪️Funds pegged to Dogecoin, Pengu, Solana, XRP, and the Melania meme coin are all in the mix.

▪️After punting on XRP ETFs in March, the agency can delay its final decision until mid-October.

Incoming SEC Chair Paul Atkins will have an avalanche of crypto-related applications to sift through when he officially takes control of the regulator.

Hopeful issuers now await feedback on 72 crypto-linked exchange-traded funds in the U.S., including requests to list options, according to Bloomberg ETF analyst Eric Balchunas.

“Gonna be a wild year,” he said on X, formerly Twitter, on Monday, noting ETF hopefuls have positioned themselves to offer funds for assets ranging from Solana to the first lady’s meme coin.

Atkins was confirmed as U.S. President Donald Trump’s pick to lead the Securities and Exchange Commission by a full Senate vote around two weeks ago. His swearing-in ceremony is expected to take place soon, marking an official start to the SEC’s push to regulate crypto collaboratively under new leadership.

Although Atkins was a proponent of deregulation during his previous stint at the SEC, analysts say the crypto-friendly veteran may have to make a few first-time calls, specifically when it comes to which cryptocurrencies can be approved for listings as commodity-based trusts.

Balchunas did not immediately respond to a request for comment from Decrypt.

Last year, the SEC approved spot Bitcoin and Ethereum ETFs under former SEC Chair Gary Gensler. While the approvals represented a landmark moment for the crypto industry, it raised deeper questions about which cryptocurrencies should be regulated as commodities, and therefore be allowed to trade on Wall Street in a similar fashion to assets like gold.

In total, asset managers are looking for feedback on applications tied to 15 different cryptocurrencies beyond Bitcoin and Ethereum. Those include applications centered on digital assets with large valuations like Solana, Dogecoin, and XRP—alongside relatively nascent ones like the Solana-based tokens Bonk, Pengu, and Official Trump.

Under Acting SEC Chair Mark Uyeda, the agency has chipped away at some regulatory uncertainty. In February, the SEC said that it generally doesn’t consider meme coins to be securities, but it didn’t advise whether they were fitting for Wall Street wrappers.

For assets like XRP, the SEC won’t be forced to make a decision immediately after Atkins takes the reins at the agency. After punting on XRP ETFs in March, the agency can delay its final decision until mid-October.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

BRICS: CHINA UNVEILS FIRST GOLD ATM: MELTS AND CONVERTS GOLD

BRICS member China has unveiled the world’s first Gold ATM that melts, tests, and converts gold into instant bank transfers. The ATM has already witnessed long queues of people trying to sell off their generational gold. Users need to book an appointment to use it, and according to early reports, appointment slots are full until as late as May.

The Gold ATM is operated by China’s Kinghood Group and is installed at a mall in Shanghai. The machine weighs, checks the quality, and analyses the Gold before dispensing the money equivalent to the price that was put in. The ATM is designed to accept gold items of over three grams with a purity of at least 50 percent.

“The introduction of smart gold ATMs primarily serves a recycling function from a business perspective. This reflects the fact that, with rising gold prices, the value of gold held by the public has increased significantly, leading to a stronger desire to cash out,” Wion quoted Xu Weixin, a member of the Shanghai Gold Association, as saying. “There is still strong upward momentum for gold, mainly driven by central banks and institutional investors accelerating their gold purchases.”

XAU/USD Surges to All-Time High as China Begins Using Gold ATM

Furthermore, the development from China also comes as Gold prices globally are skyrocketing. Indeed, the precious metal touched the historic milestone of $3,400 on Monday.

The XAU/USD index, which tracks the performance of the precious metal, showed the commodity surging 70 points, spiking more than 2% in the day’s trade. The Spot Gold prices have risen close to 30% year-to-date, generating stellar returns to investors.

Commodity traders who took an entry position this year are all enjoying profits as the metal is heading north. This is the highest the glittery metal has surged in the last four months since 2010.

The steady yet unending accumulation of gold, as well as China’s new Gold ATM, could send its prices higher by the end of 2025. Senior Bloomberg strategist Mike McGlone recently predicted that the metal could soon hit the $4,000 mark next.

 “We’re putting in a pretty good base now around $3,000,” McGlone said. “It’s going to head into $4,000, the question is time. Anything in between there is for the traders, which I used to do.”

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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More “Iraq News” Posted by Clare at KTFA 4-21-2025

KTFA:

Clare:  APIKUR Pushes for Written Agreements in Ongoing Kurdistan Region Oil Export Negotiations

4/20/2025   ERBIL  —

Member companies of the Association of the Petroleum Industry of Kurdistan (APIKUR) reiterated their call for formal written agreements during the latest round of discussions with Iraqi and Kurdistan Regional Government (KRG) officials over the resumption of oil exports via the Iraq-Turkey pipeline.

The meeting, held on April 20, focused on the necessary conditions to restart oil flows that have been suspended for over a year. While all sides presented their positions on a range of technical and legal matters, no final agreements were reached.

APIKUR member companies emphasized the need for fair implementation of Iraq’s federal budget law, especially regarding the role and responsibilities of an independent consultant tasked with overseeing oil production and exports. They also stressed that any future arrangements must not infringe on existing contracts with international oil companies (IOCs), which have been upheld by Iraqi courts.

Crucially, APIKUR is seeking written agreements that provide clear guarantees on payment terms and the settlement of outstanding arrears. According to a statement from the organization, the member companies "did not receive satisfactory assurances" on these key issues during Saturday's meeting.

In an effort to move the talks forward, several APIKUR members have submitted draft sales and lifting agreements, along with detailed recommendations for the independent consultant’s scope of work, to both KRG and federal Iraqi officials.

Despite the lack of immediate progress, APIKUR reaffirmed its readiness to resume exports—contingent on securing signed agreements that protect the fiscal and economic terms of their existing contracts.

The talks come amid growing pressure to resolve the impasse, which has had significant financial implications for both the federal and regional governments, as well as oil companies operating in the Kurdistan Region.  LINK

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Donald J. Trump  @realDonaldTrump

 Since our announcement of LIBERATION DAY, many World Leaders and Business Executives have come to me asking for relief from Tariffs. It’s good to see that the World knows we are serious, because WE ARE!

They must right the wrongs of decades of abuse, but it won’t be easy for them. We must rebuild the Wealth of our Great Country, and create true RECIPROCITY.

But for those who want the easiest path: Come to America, and build in America!

Donald J. Trump   @realDonaldTrump

NON-TARIFF CHEATING:

1. Currency Manipulation
2. VATs which act as tariffs and export subsidies
3. Dumping Below Cost
4. Export Subsidies and Other Govt. Subsidies
5. Protective Agricultural Standards (e.g., no genetically engineered corn in EU)
6. Protective Technical Standards (Japan’s bowling ball test)
7. Counterfeiting, Piracy, and IP Theft (Over $1 trillion a year)
8. Transshipping to EVADE Tariffs!!!

Apr 20, 2025, 5:13 PM

https://truthsocial.com/@realDonaldTrump

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

Clare:  Al-Sudani acknowledges the "actual" realization of the budget deficit

4/21/2025

Iraqi Prime Minister Mohammed Shia al-Sudani acknowledged on Monday that the federal budget deficit has been realized.

In his speech during a meeting with the head and members of the Dhi Qar Provincial Council, as reported by Shafaq News Agency, Al-Sudani said, "In our government, the budget deficit has actually appeared to achieve accomplishments, and there is efficiency in spending, performance, and work, while the previous deficit was planning."

He added, "Our government has arranged the spending mechanism according to the principle of the most important, then the important, and we have worked in many sectors and achieved positive results," indicating, "In the 2024 budget, (156) trillion dinars were spent out of (213) trillion planned, including (90) trillion for salaries, (40) trillion for operational, and (13) trillion for ministries and governorates' projects."

Last year's budget amounted to 211 trillion dinars, with revenues estimated at 144 trillion and 336 billion dinars, while expenditures amounted to 210 trillion and 936 billion dinars, and the deficit was 63 trillion and 599 billion dinars.   LINK

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

Clare:  Al-Sudani's advisor: Iraq's foreign exchange reserves are fine.

4/21/2025- Baghdad

 The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Monday that Iraq's foreign exchange reserves cover 100% of the national currency.

Saleh said, "Iraq's foreign currency reserves still have the capacity to cover 100% of the national currency issued, and that commercial efficiency has been achieved."

He added, "These reserves still cover the country's imports for three months, and therefore foreign reserves are considered stable." He pointed out that the development of the optimal external use of foreign currency is achieved through a careful balance between the role of these reserves in maintaining the foreign purchasing power of the dinar and the stability of the exchange rate, and the standard of reserve efficiency, which is one of the functions of monetary policy as an independent body in achieving its goals of monetary stability and economic development.

On March 31, 2025, the Central Bank of Iraq revealed that the central bank's net foreign reserves for 2024 amounted to 130.81 trillion dinars, a 10.18% decrease compared to the same period in 2023, when they reached 145.64 trillion dinars.

 The Central Bank confirmed that the reason for the decline in foreign reserves is due to the rise in domestic public debt, which is intended to cover the real deficit in the state's general budget. LINK

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Clare:  KRG Shifts “My Account” Salary Banking Project to Ministry of Finance

By Dler Mohammed    ERBIL — 

In a strategic move aimed at streamlining the salary distribution system, Kurdistan Region Prime Minister Masrour Barzani has issued a directive to transfer the management of the “My Account” banking initiative for public sector salaries to the Kurdistan Regional Government’s (KRG) Ministry of Finance and Economy.

The decision was officially confirmed on Sunday, in a formal statement signed by Omed Sabah, Head of the Council of Ministers' Office. According to the statement, the transfer of responsibility is based on Barzani’s order to ensure compliance with the legal and procedural standards of Iraq’s Federal Central Bank.

Under this shift, the Ministry of Finance will now oversee the implementation and administration of the “My Account” project, which is designed to deposit government employee salaries directly into individual bank accounts. The ministry is also tasked with ensuring that the project aligns with federal banking laws and regulations, safeguarding public servants' accounts' financial integrity and privacy.

The “My Account” initiative—Hajmari Min in Kurdish—was originally managed by a specialized team reporting to the Council of Ministers. It was launched as part of broader reform efforts by the KRG to modernize its payroll system, increase transparency, and reduce corruption related to salary disbursements.

By transferring authority to the Ministry of Finance, the government aims to centralize oversight, improve efficiency, and establish a more permanent institutional framework for the project. The move reflects a broader commitment to fiscal reform and digitization within the public sector, consistent with global standards for financial governance.

The transition also addresses concerns about regulatory compliance, particularly regarding federal oversight and banking law adherence—critical for ensuring continued coordination with Iraq’s financial institutions and international banking partners.

As the Ministry of Finance assumes full control of “My Account,” it is expected to roll out additional measures to protect user data and enhance the platform’s accessibility and reliability for tens of thousands of government employees across the Kurdistan Region.  LINK

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Clare:  Rafidain Bank announces the third issuance of national investment bonds.

 4/21/2025 

In line with the directives of the Ministry of Finance and the Central Bank of Iraq, Rafidain Bank is offering citizens and investors a unique investment opportunity through the third issue of national bonds, which will be offered for subscription from April 20, 2025, until May 20, 2025, in two categories that generate fixed and rewarding returns:

Details of the offered bonds:
 1. Investment bond worth (500,000) five hundred thousand dinars
 • Annual return: 8%
 • Investment period: two years
 • Interest payment: every six months
 2. Investment bond worth (1,000,000) one million dinars
 • Annual return: 10%
 • Investment period: four years
 • Interest payment: every six months

Why invest with us?
 • A guaranteed and fixed return higher than traditional banking returns
 • A national investment supported by the state through the Ministry of Finance and the Central Bank
 • An ideal opportunity for savers and those looking for a safe investment
 • Available to individuals and companies

We invite you to seize this lucrative investment opportunity by visiting the nearest Rafidain Bank branch in Baghdad and the governorates to submit a purchase request and benefit from the benefits of this issuance.  LINK

Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era

Fed’s $2T Bailout is Prepped - Banks Will Echo WW2 Era

Daniela Cambone:  4-21-2025

“It ends with the banks looking like they did at the end of World War II... half of their book was government bonds,” says R. Christopher Whalen, investment banker and author.

In a conversation with Daniela Cambone, he breaks down the systemic risks emerging in the treasury market. “Today the treasury market is basically a carry trade with a lot of hedge funds using 100 to 1 leverage.

That’s the market for treasury debt,” he explains, pointing to the fragility of the current system.

Whalen also argues that the Bretton Woods framework has eroded and that the dollar’s dominance is waning.

“This dollar Imperium has run its course.” He believes central banks — including the U.S. Federal Reserve — should diversify their reserves to include gold alongside major currencies like the dollar, euro, and yen.

He views gold as a strategic reserve asset with untapped financial utility. “I hope... the BIS is going to recognize gold as a high-quality liquid asset... it would become eligible to be collateral in swaps,” he says.

Key Topics:

President Trump and Powell were going to cross swords.

The Fed struggles to manage the economy and rates.

Multifamily real estate is the subprime today.

The Fed should be holding gold.

The dollar is attractive because of our marketplace.

National debt has tripled in 15 years.

Chapters:

 00:00 Trump and Powell

 4:26 US dollar

 5:31 Andrew Jackson

 7:43 Weaker dollar

8:59 High inflation

 9:38 Treasury market

11:44 Banking system

12:27 Financial system reset

 14:56 Gold

19:46 Housing market

21:21 National debt

 25:58 BRICS

26:58 Concluding words

https://www.youtube.com/watch?v=usb2PgiHF6o

Iraq Economic News and Points to Ponder Monday Afternoon 4-21-25

The Deputy Speaker Of Parliament Offers His Condolences To The Vatican And All Christians Around The World On The Passing Of The Holy Father.

Monday, April 21, 2025 | Politics Number of reads: 103  Baghdad / NINA / Deputy Speaker of Parliament Shakhwan Abdullah Ahmed offered his condolences to the Vatican and all Christians in the world on the death of His Holiness Pope Francis.

The Deputy Speaker of Parliament said, according to a statement by his media office: "With great sadness, we received, today, the news of the death of His Holiness Pope Francis."

Shakhwan Ahmed offered his deepest condolences and sincere sympathy to the Vatican and to all Christians in the world on this painful occasion, praising his religious and humanitarian career and his great role in promoting dialogue between religions and cultures, asking God Almighty to grant his soul tranquility and eternal rest, and to inspire his loved ones and supporters with patience and solace. /End https://ninanews.com/Website/News/Details?Key=1199178

Iraq Is The Second Most Developed Country In The World For Oil Pipelines.

Energy  Economy News – Baghdad  Iraq ranks second globally in oil pipeline development, after China, according to a Washington-based US energy agency.

The unit stated in a report that "Iraq ranked second after China among the countries with the most developed oil pipelines by the end of 2024, with a total of 4,010 kilometers."

She added, "Of this total, 1,155 kilometers are currently under construction, while the proposed pipelines are estimated at 2,855 kilometers."

Iraq continues to remove mines obstructing oil and gas pipelines, alongside plans by the Iraqi Ministry of Oil to implement a third offshore pipeline project with a capacity of two million barrels per day. This pipeline aims to export Iraqi crude oil from the Faw reservoirs to the Faw oil port.

The country currently has 15 crude oil pipelines, totaling 2,090 miles, and 10 petroleum product pipelines, totaling 1,530 miles.   https://economy-news.net/content.php?id=54659

Rafidain Bank Announces The Third Issuance Of National Investment Bonds.

Time: 2025/04/21 Reading: 120 times  In line with the directives of the Ministry of Finance and the Central Bank of Iraq, Rafidain Bank is offering citizens and investors a unique investment opportunity through the third issue of national bonds, which will be offered for subscription from April 20, 2025, until May 20, 2025, in two categories that generate fixed and rewarding returns:

Details of the offered bonds:
1. Investment bond worth (500,000) five hundred thousand dinars
• Annual return: 8%
• Investment period: two years
• Interest payment: every six months
2. Investment bond worth (1,000,000) one million dinars
• Annual return: 10%
• Investment period: four years
• Interest payment: every six months

Why invest with us?
• A guaranteed and fixed return higher than traditional banking returns
• A national investment supported by the state through the Ministry of Finance and the Central Bank
• An ideal opportunity for savers and those looking for a safe investment
• Available to individuals and companies

We invite you to seize this lucrative investment opportunity by visiting the nearest Rafidain Bank branch in Baghdad and the governorates to submit a purchase request and benefit from the benefits of this issuance.   LINK

 

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