Iraq Economic News And Points To Ponder Thursday Evening 5-1-25

Oil Prices Stabilize, Brent At $61

Time: 2025/05/01 07:52:31 Read: 2,235 times  {Economic: Al Furat News} Oil prices stabilized with little change after recording their largest monthly decline since 2021, amid indications that the OPEC+ alliance may be entering an extended phase of increased production.

West Texas Intermediate crude traded around $58 a barrel after falling 3.7% on Wednesday, while Brent crude held near $61.

Reuters reported that Saudi officials have told their allies and industry experts that the kingdom can withstand lower prices for an extended period.

At its meeting earlier this month, the OPEC+ alliance decided to raise oil production by more than previously estimated starting in May, by about 411,000 barrels per day, equivalent to three months of planned increases.

This report comes as the market awaits OPEC+'s next move, given the recent decline in oil prices. JPMorgan analysts led by Natasha Kaneva see in a note a "growing likelihood" that OPEC+ will accelerate the return of crude supplies to the market at its next meeting on May 5.

Meanwhile, hopes for a quick breakthrough in US-led trade negotiations are fading, negatively impacting the outlook for energy demand.

US economic contraction: Oil prices have been under pressure since US President Donald Trump announced on April 2 that he would impose high tariffs, heralding a broader trade war that could lead to a global economic slowdown.

Data on Wednesday showed that the US economy contracted for the first time since 2022, while manufacturing activity in China fell to its worst level since December 2023. This decline overshadowed more positive data showing a decline in US oil and gasoline inventories last week.

According to Morgan Stanley, global oil demand in April remained unchanged from last year's level, at 102 million barrels per day, although the bank had expected an increase of 500,000 barrels per day over the previous month.  LINK

 The Central Bank Of Iraq Has Decided To Sell $2,000 To Each Pilgrim At The Official Exchange Rate.
 
Thursday, May 1, 2025 17:25 | Economic     Number of readings: 143
      https://ninanews.com/Uploads/Images/2025/5/1224130-1e78f8df-f682-48ba-bc0c-f316aec7bc8b.jpg
 
Baghdad/ NINA / The Central Bank of Iraq decided, on Thursday, to sell $2,000 to each pilgrim at the official exchange rate of 1,320 per dollar.
 
The text of the document issued by the Central Bank stated that it was decided to grant each pilgrim $2,000 at the official rate,
as part of the facilities provided to pilgrims to the House of God. https://ninanews.com/Website/News/Details?key=1224130    

Terms And Conditions

April 30, 2025   Anti-Money Laundering and Counter-Terrorism Financing Controls for Electronic Payment Service Providers. 
For more information, click here   https://cbi.iq/static/uploads/up/file-174600330029591.pdf   

[48 page pdf file in Arabic]    https://cbi.iq/news/view/2878    

A UN Assessment Of Iraq's Position On Regional Crises And Its Dissociation From Them

Time: 2025/05/01 22:01:51 Reading: 765 times  {Local: Al Furat News} The United Nations praised Iraq's stance on regional crises and its dissociation from them on Thursday.

The Special Representative of the Secretary-General for Iraq, Mohammed Al-Hassan, said in a press statement that: "The Iraqi government's handling of the region's crises has been extremely successful."

He added, "The government has kept many disputes and conflicts away from Iraq," noting that "Baghdad and Erbil have dealt calmly and professionally with the region's challenges to protect Iraq from any negative impacts."

Al-Hassan explained that "the Iraqi authorities and decision-makers have dealt in an optimal and rational manner, keeping the country away from many problems."  LINK

Parliamentary Finance: Budget Tables Will Reach Parliament After The Legislative Recess.

Thursday, May 1, 2025, 4:03 PM | Economics Number of reads: 316    Baghdad / NINA / The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced that the budget tables will reach the parliament after the legislative recess.

Al-Atwani said, "Voting on the budget tables within the parliament will not exceed the ninth of next June due to the legislative recess," noting that "the budget is approximately 210 trillion, divided into an operating budget of approximately 155 trillion and a 55 trillion investment budget with a deficit of 66 trillion dinars."

He added, "Our planned path for discussing the budget and studying these tables is to review their contents and study them in detail," noting that "the first ministers to attend to discuss the budget will be the Minister of Finance, followed by the Minister of Planning."

Al-Atwani continued, "The approved mechanism for distributing the investment budget amounts, whether between ministries or governorates, is studied and analyzed, after which the report is written and submitted to the House of Representatives, and then the budget tables are presented with the report to the House for voting on them.

" He stressed "the committee's keenness to complete the task as soon as possible, considering that we voted on a three-year budget for the government to operate comfortably and not to disrupt the tables." /End   https://ninanews.com/Website/News/Details?key=1224120

The Iraqi Banking Sector Between Support Flexibility And The Risk Of Reserve Depletion: A Reading Of The Fitch Report And Central Bank Figures

Economy News – Baghdad   Bassam Raad / Economic Researcher  At a time when Fitch Ratings confirms the flexibility of the Iraqi banking sector in the face of oil price fluctuations (1), the Central Bank’s figures reveal a decline in foreign reserves during the first quarter of 2025 (Al-Marsoumi) (2).

These two reports present a multifaceted picture of the Iraqi economy, highlighting short-term resilience thanks to liquidity support policies and long-term risks associated with reliance on oil, price volatility, and declining foreign reserves.

The Fitch report indicated that the Iraqi banking sector, despite its low credit rating (CCC)(3), is not directly affected by the decline in oil prices.

This is due to the Central Bank's ability to support government spending through proactive monetary policies. One of the most prominent of these policies is known as monetary sterilization(4), through which the exchange rate is maintained stable and inflation is curbed.  

Central Bank figures also revealed that Iraq's foreign exchange reserves declined by more than $7 billion during the first quarter of 2025, reaching 127.198 trillion dinars in March 2025, compared to 136.877 trillion dinars in December 2024. This means that the Central Bank sacrificed a portion of its reserves to achieve domestic financial stability, reinforcing Fitch's claim about the resilience of the banking sector.

Overall, the Fitch report cannot be separated from the decline in oil prices, which fell from around $77.3 to $72 per barrel during the first quarter of this year, a source of approximately 90% of Iraq's revenues.

While the agency saw that the direct impact on banks is limited, we can sense the indirect impact through the Central Bank’s figures and through

The Following Comparison:
Government revenues declined, increasing pressure on the central bank.  

Foreign exchange reserves: decreased by approximately 9.679 trillion dinars by the end of the first quarter of this year.

Here, the data shows that support policies may achieve temporary stability, but they rely on limited resources (foreign reserves), which portends risks if oil prices continue to decline or government spending expands unplanned.

Despite the Central Bank’s assurances that reserves are still good by international standards (their ratio to the money supply is above 20%) (5), in an oil-dependent country like Iraq, the decline in oil revenues negatively affects foreign currency flows. The continued decline in oil prices for a long period may weaken the ability to compensate for depleted foreign reserves.

The most important message conveyed by Fitch's reports and the central bank's figures is that "temporary stability is no substitute for radical reform."

While monetary support policies demonstrate short-term resilience, depleting reserves and rising public debt portend future crises if the Iraqi government does not rapidly diversify its economy and adopt radical reforms.

Iraq is at a crossroads: either diversify its sources of revenue and move toward a productive economy based on industry, technology, and agriculture, or remain hostage to the volatility of oil prices and the fragility of credit ratings.    https://economy-news.net/content.php?id=55007

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 5-1-25

Good Evening Dinar Recaps,

HOUSE REPUBLICANS TO UNVEIL LANDMARK DRAFT DIGITAL ASSET BILL AHEAD OF KEY CRYPTO HEARING NEXT WEEK

▪️Top Republicans of the House Financial Services Committee alongside their counterparts in the House Agriculture Committee will be releasing a draft ahead of a May 6 hearing on the future of digital assets, sources told The Block
.
▪️The incoming version is set to be similar to one that passed out of the House last year called the Financial Innovation and Technology for the 21st Century Act

Key lawmakers are set to release a new discussion draft in the coming days that outlines a significant regulatory framework for digital assets, ahead of a major congressional hearing next week.

Top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — along with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Libertarian Dusty Johnson — will release the draft before a May 6 joint hearing on digital assets, a source familiar with the matter confirmed to The Block.

The hearing, titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century,” will be held at 10 a.m. ET and is expected to focus on long-awaited legislation to define crypto market structure in the United States.

The draft is expected to resemble last year’s Financial Innovation and Technology for the 21st Century Act (FIT 21), which passed the House. A staffer for the House Agriculture Committee also confirmed that the text would be released prior to the hearing.

Committees in the House and Senate have advanced bills focused on stablecoins, and legislation to regulate the crypto industry as a whole has been viewed as the next step. President Donald Trump has said that he wants to see a stablecoin bill on his desk by August, but some say the bills could be linked.  

Republicans have been mostly leading efforts on both bills and would need Democratic support to pass. Some Democrats, including crypto critic Rep. Brad Sherman of California, have said that "good crypto regulation" is needed, but Trump-backed crypto ventures could threaten any hope of bipartisanship.

Moving Onwards

The process for a market structure bill is moving quickly, said Ron Hammond, senior director of government relations at the Blockchain Association, as lawmakers could decide to hold another hearing or could go straight away to a markup — the process where lawmakers openly debate, amend, and vote on a bill.

Hammond said he had not seen a version of the discussion draft, but said he had been told it was 90% similar to FIT 21.

"Overall, it's still kind of a black box until we see the text of what actually got changed and what they intend to change after the discussion draft," Hammond said in an interview.

FIT 21 sets out to clarify when a digital asset would be regulated by the Securities and Exchange Commission, the Commodity Futures Trading Commission, or both. It would have ultimately granted more power and funding to the CFTC to oversee crypto spot markets and "digital commodities," particularly bitcoin, and set parameters for the Securities and Exchange Commission.

Meanwhile, the Senate is working on its version of a crypto market structure bill, Hammond said.

Stablecoins - market structure

Combining the two bills has been floated, but there are concerns of partisan divides as the midterms near in November 2026, Hammond said, while others say they should be separated and get stablecoin legislation signed into law first. Work on a stablecoin bill is seen as less complicated than trying to regulate the industry as a whole.

Hill told reporters in March that he views the bills as "linked," and Steil said he viewed the two as peanut butter and jelly.

However, Trump's foray into crypto could complicate crypto legislative efforts. Hill was asked in March about the Trump family's involvement in crypto, which includes a DeFi protocol under development as well as live and tradable memecoins and NFTs. World Liberty Financial, backed by Trump, also recently launched its own stablecoin.

Hill had said that Trump's memecoin and stablecoin involvement has complicated their work.

During congressional hearings over the past several weeks, Democrats have raised alarm bells over Trump's involvement. Top Democrat of the House Financial Services Committee, Maxine Waters of California, accused Trump of making himself richer through his crypto ventures during a hearing last month.

"The more the Trump family gets involved in the crypto realm, and World Liberty Financial gets involved, it just presents another angle of attack for Democrats to attack Trump," Hammond said. "So there is a concern that this will only worsen over time and sour a potential good bipartisan vote in the Senate."

@ Newshounds News™
Source:  The Block

~~~~~~~~~

AUSTRALIAN ELECTION WILL BRING PRO-CRYPTO LAWS EITHER WAY

No matter who wins Saturday's election in Australia, crypto legislation developed with the industry is set to finally happen this year.

Despite reports in February suggesting that 2 million pro-crypto voters could decide the outcome of this week’s Australian Federal Election, crypto has barely rated a mention during the campaign.

“I think it’s a missed opportunity,” Independent Reserve founder Adrian Przelozny told Cointelegraph. “Neither side has made crypto a headline issue because they’re wary of polarizing voters or sounding too niche.”

But the good news is that after more than a decade of inaction, both the ruling Australian Labor Party (ALP) and the opposition Liberal Party are promising to enact crypto regulations developed in consultation with the industry.

In April, Shadow Treasurer Angus Taylor promised to release draft crypto regulations within the first 100 days after taking office, while the Treasury itself has draft bills on “regulating digital asset platforms” and “payments system modernization” scheduled for release this quarter.

Amy-Rose Goodey, CEO of the Digital Economy Council of Australia, said that both parties “are equally invested in getting this draft legislation across the line.”

“Irrespective of who gets in, we’re in a better position than we were about a year ago.” Pro-crypto voters have choices in the Senate, too, with the Libertarian Party issuing a 23-page Bitcoin policy in March — calling for the creation of a national Bitcoin Reserve and the acceptance of Bitcoin as legal tender.

The minor party is fielding five Senate candidates in different states, including former Liberal MP Craig Kelly, but doesn’t currently have anyone in the Senate.

The progressive left-wing Greens party has not outlined a position on crypto, while the conservative right-wing One Nation party has campaigned against debanking and CBDCs.

More Than A Decade Of Inaction On Crypto

Australia’s first parliamentary inquiry into digital assets was held back in 2014, but there’s been more than a decade of regulatory inaction since. The industry says this has led to stagnation and a brain drain of talent to jurisdictions like Singapore and the UAE.

The former Liberal Government was considering the landmark Digital Services Act, based on the 2021 Senate Committee’s crypto recommendations, when it lost office in 2022. Despite ongoing consultations since, the ALP government, led by Prime Minister Anthony Albanese, hasn’t put forward any legislation to parliament.

But there has definitely been a vibe shift from the ALP recently, with Treasurer Jim Chalmers telling Cointelegraph that digital assets “represent big opportunities for our economy.”

”We want to seize these opportunities and encourage innovation at the same time as making sure Australians can use and invest in digital assets safely and securely with appropriate regulation.”

His office said exposure draft legislation would be released “in 2025” for consultation, introduced into Parliament “once that feedback has been considered” with the subsequent reforms “phased in over time to minimize disruptions to existing businesses.”

The shadow assistant treasurer, Luke Howarth, said the ALP has been slow to act because it didn’t have a blockchain policy when it was elected.

“It wasn’t until the FTX collapse that they acknowledged the need for regulation,” he told Cointelegraph. “The Albanese government initially promised it would put in place regulation by 2023 but have failed to draft legislation or give a clear time-frame for action. After three years, all that was offered to industry was a six-page placeholder document.”

He’s referring to Treasury’s March statement “on developing an innovative Australian digital asset industry.” It provides for the licensing of Digital Asset Platforms (DAPS), a framework for payment stablecoins and a review of Australia’s Enhanced Regulatory Sandbox.

While short on detail, those aims are broadly similar to the crypto regulation priorities that Howarth outlines to Cointelegraph — the big difference being that the opposition has committed to a faster time frame.

Przelozny praised the 100-day promise as “exactly the kind of urgency we need.”

If elected, the Liberal Party’s legislation is expected to take some of its cues from Senator Andrew Bragg’s private members bill in 2023 and some from the more recent work done by the Treasury.

The government steps up efforts

The Treasury has been quietly drafting legislation this year, which Goodey understands is “almost complete.”

“There’s been prioritization within Treasury, and I know that their team has almost doubled — the digital asset team — for writing that draft legislation. So, there has been an investment in that over the past six months.”

Przelozny characterizes the ALP’s approach as “cautious and methodical, but it’s been slow,” prioritizing consumer protection and risk management.

BTC Markets CEO Caroline Bowler said the election of a pro-crypto Trump administration and the UK’s draft regulations (released this week) likely forced both sides of politics to finally get serious.

”Australia has ground to make up, and I would anticipate this also being a factor in the savvy move by both parties,” she said.

Stand With Crypto campaign and ASIC

The Stand With Crypto campaign is active in Australia but has been fairly low-key during the campaign, with a focus on debanking.

Coinbase managing director for APAC John O’Loghlen called on whoever wins the election to launch a “Crypto-Asset Taskforce (CATF) within the first 100 days.” This would include industry and consumer representatives to finally get crypto regulations over the line.

“If Australia doesn’t move now, we risk falling even further behind,” he told Cointelegraph.

“The next government must move beyond consultation and into legislation.”

The Australian Securities and Investments Commission (ASIC) is the local equivalent of the US Securities Exchange Commission (SEC). It released its own crypto regulatory proposals in December.

Joy Lam, Binance’s head of global regulatory and APAC legal, told Cointelegraph she doesn’t expect ASIC to suddenly change direction if a new government comes in, as the SEC did.

“ASIC doesn’t make the law,” she said. “I don’t expect a complete kind of 180 because ASIC, it is independent, and it does have its own mandate, but it obviously operates within the legislative framework that the government is going to be setting.”

Who should single-issue crypto voters back?

In February, a poll by YouGov and Swyftx found that 59% of crypto users would vote for a pro-crypto candidate in the federal election above all other issues. That equates to around 2 million Australians and would be enough to determine the outcome of the election one way.

But the similarities between the major parties on crypto regulation are much greater than the differences. Goodey said both sides of politics have genuinely engaged with the industry about its concerns and priorities.

“You can see in some of the language with their media releases that they both released in March, April this year, that they are in agreement on what the industry issues are,” she said.

Owing to Senator Bragg’s campaigning on crypto, the industry sees the Liberal Party as more enthusiastic about digital assets, but after three years in government, the ALP looks to have arrived at roughly the same place.

Recent YouGov and Resolve polls suggest the government is likely to be reelected.

While internal Liberal polling suggests an ALP minority government is a genuine possibility, the major parties would have enough votes between them to pass bipartisan crypto legislation.

Whatever happens, 2025 looks like the year Australia will finally provide the crypto industry with the certainty it needs.

“For industry, the timing is really quite critical now because obviously it’s something that has been discussed and kicked around for quite a few years,” Lam said.

“I would say that we are cautiously optimistic.”

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

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BREAKING: Vietnam China Russia Loas Cambodia Vietnam's End of War Celebration w/U.S.

BREAKING: Vietnam China Russia Loas Cambodia Vietnam's End of War Celebration w/U.S.

Edu Matrix:  5-1-2025

BREAKING: Vietnam, China, Russia, Laos, Cambodia in Vietnam's End of War Celebration with U.S. VND Rate - It’s been 50 years since the Vietnam War ended, and Vietnam is commemorating this historic milestone with massive celebrations in Ho Chi Minh City.

This video takes a closer look at the country’s evolution since the war, from reunification to rapid economic reform, and what it means for today’s VND (Vietnamese đồng) investors.

 Explore how the VND has depreciated from under 1 per USD in 1983 to over 23,000 in 2023, and what experts say about its outlook in 2025.

 With analysts forecasting a potential slide to 26,000 VND per USD, many still see opportunity in holding the VND, especially as Vietnam attracts major foreign manufacturers fleeing China.

https://www.youtube.com/watch?v=5fYMjf67S4E

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-1-25

Good Afternoon Dinar Recaps,

US BLOCKCHAIN FIRMS URGE SEC TO CLARIFY CRYPTO STAKING RULES

The Council warns that overly strict staking rules could stymie innovation and impede market growth.

A coalition of US blockchain firms has urged the Securities and Exchange Commission (SEC) to provide clear regulatory guidance on crypto staking.

The coalition, led by the Crypto Council for Innovation, requested in an April 30 open letter that the agency treat staking with the same clarity it recently applied to proof-of-work mining.

Staked tokens are not a security

The Council argued that staking is a core technical process for maintaining blockchain networks, not an investment contract.

It stated:

“The benefits of staking to a PoS network and its participants are clear: base layer actors are incentivized to contribute to the security of the network, minimize the risk of manipulative activity, ensure data integrity, and bolster community trust in the network.”

It stressed that staking allows users to validate transactions, secure the network, and help produce new blocks. In return, participants receive token-based rewards. These rewards are determined by each network’s protocol, not by a centralized authority or profit-sharing agreement.

The Council also pointed to the SEC Division of Corporation Finance’s March 2025 statement on PoW mining. In that statement, the SEC clarified that mining on decentralized networks is not a securities transaction.

The Council asserted that this reasoning should also apply to staking, as miners and stakers engage in administrative functions to support blockchain infrastructure and receive protocol-defined rewards.

Meanwhile, the letter acknowledged that some risks exist, such as the possibility of slashing, where stakers lose tokens for violating protocol rules.

However, it noted that slashing is uncommon and not a defining feature of staking’s economic model. Therefore, the Council maintains that staking should not be classified under securities laws.

Why is clarity needed?

The Crypto Council believes that formal guidance from the SEC would benefit many stakeholders, including developers, service providers, and end-users.

They argued that such clarity would remove uncertainties for platforms that offer staking, especially those connected to crypto exchange-traded funds (ETFs).

The Council further stressed that regulatory clarity would help the US stay competitive with other global jurisdictions, which are moving faster to support innovation in the digital asset space.

However, they cautioned against overly rigid rules that could limit innovation or reinforce outdated market practices.

@ Newshounds News™
Read more:  CryptoSlate

~~~~~~~~~

BRICS DRIVING A NEW US DOLLAR DOWN CYCLE OR PUSHING IT TO COLLAPSE?

The United States’ global relations have been at the forefront of geopolitical affairs throughout this month. Amid an influx of America-first trade policies, several global collectives have warned over the protectionist approach. Now, the BRICS bloc is positioning itself, alongside US policy, to either drive a new dollar down cycle or push the currency closer to collapse.

At the start of his return to the White House, US President Donald Trump had assured the importance of the greenback’s global status. Indeed, he said that the dollar’s loss of status as a global reserve currency would be akin to “losing a war.” Now, his administration is being confronted with a weakening currency and an influx of global policies to help facilitate its struggle.

US Dollar in Concerning Predicament as BRICS & United States Policy Drive It Down

Just one week ago, Goldman Sachs gave a gloomy prediction for the future of the US dollar. Indeed, the bank aligned with the prevailing belief that the global reserve asset could be on its way toward a concerning position. Not only has it faced pressure from growing de-dollarization efforts, but it has now felt the ire of nations challenged by US tariff plans.

That has provided a key question for both the Western nation and its global south opposition. Is BRICS driving the US dollar to a notable down cycle or pushing it closer to collapse? The economic alliance has, for the last several years, remained at the forefront of alternative currency promotion and development. That could only fast-track this year.

The US dollar DXY Index has recently fallen to a three-year low. Moreover, the greenback has struggled amid a concerning first 100 days for US President Trump. Additionally, a report from The Hill notes that “foreign investors appear to be reappraising the role of US Treasury securities as a global haven asset” amid the administration’s actions in recent months.

So What’s Next?

With US fiscal net interest payments on its debt reaching $949 billion and surpassing its defense spending, there is even more reason to worry. Historian Barry Eichenberg told the publication that Trump “should be promoting financial stability, limiting the use of tariffs, and strengthening America’s geopolitical alliances.”

That has not taken place. In fact, the opposite has. Subsequently, there is reason to believe the BRICS bloc is playing a key role in helping the US decimate the value of its dollar. Since 2024, it has sought to limit its exposure to the currency. A key reason has been its weaponization.

Moreover, it shifted its attention to gold. Indeed, many nations in the alliance have ramped up their purchasing of the metal with eye on a continued de-dollarization approach. With gold surging, there should be a reason for the United States to emphasize a shift in philosophy. That is, before a US dollar downcycle becomes a full-blown collapse.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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MilitiaMan & Crew: Iraq Dinar News-Global ASYCUDA System & International Company-Linking National Banks-USA Banks

MilitiaMan & Crew: Iraq Dinar News-Global ASYCUDA System & International Company-Linking National Banks-USA Banks

4-30-2025

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=QYaRcBuhvBY

Iraq Economic News And Points To Ponder Thursday Morning 5-1-25

The Rise In The Value Of The National Currency Has Local And International Causes.
 
Economic 04/27/2025  Baghdad: Hussein Thaghab   The Iraqi dinar's exchange rate against the US dollar has witnessed a  significant improvement over the current period, supported by a number of internal and external factors.
 

Most notably, the
 
     country's large financial reserves, the
     prudent monetary policies pursued by the Central Bank of Iraq, and
     signs of a thaw in US-Iranian relations have
 
combined to boost the value of the national currency.
 
Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad, said that the
improvement in the Iraqi dinar's exchange rate against the dollar in local markets
is due to the central bank's recent policy. He added that
 
Financial Reserves
 
the country's massive financial reserves are one of the main reasons
behind the improvement in the value of the dinar against the dollar, and
 
we expect the dinar's value to continue to improve in the coming period. He pointed out that
 
the Central Bank of Iraq is working to consolidate the national currency
by adopting policies that are consistent with Iraq's
 
     financial capabilities and the
     requirements of the national economy.
 
Dollar Flow
 
Dr. Nabil Al-Abadi said:
 
“The past few days have witnessed a significant improvement in the exchange rate of the dinar against the dollar,
which is the result of a combination of internal and external factors.
 
On the monetary policy side, the Central Bank has taken strict measures, including
 
     restricting the flow of dollars through auction platforms and
     imposing strict oversight on banks. It has also
     raised the interest rate on dinar deposits,
     which has stimulated the transfer of some cash liquidity.  

External Factors, such as the
 
     improvement in oil prices and the
     accompanying increase in foreign reserves,
 
have also contributed to this improvement.”  He added that
 
Stabilization
 
these measures, while effective in achieving short-term stability, remain subject to several risks.
 
The Iraqi economy's dependence on oil revenues makes it hostage to global market fluctuations.
 
Furthermore, some austerity measures, such as
import restrictions,
could negatively impact citizens' purchasing power
if they are not accompanied by policies that support local production. He stated that
 
Productive Sectors
 
ensuring the sustainability of this improvement requires structural reforms,
starting with
     diversifying the economic base and
     reducing dependence on oil, through
     developing productive sectors such as agriculture and industry.
 
This also requires
 
     a comprehensive overhaul of the banking system and
     simplifying customs procedures to boost non-oil exports, as well as
     enhancing investment confidence through stabilizing legislative policies. He stated that
 
improving the exchange rate is not an end in itself,
but rather must be a starting point for deeper economic reform.
 
International experience demonstrates that
sustainable monetary stability can only be achieved
through a productive economy capable of confronting external shocks.

Global Pressure
 
Financial expert Dr. Mustafa Akram emphasized that
 
while there is a reason for the
gap between the official exchange rate and the parallel exchange rate of the dinar against the dollar,
the gap has its causes. He pointed out that the
 
opening up between the United States and the Islamic Republic has eased global pressure on remittances to Iran,
 
     reducing demand for the dollar in local markets and
     strengthening the value of the national currency.
 
This coincides with ample supply from the Central Bank in the form of remittances and
other forms of financing, which necessitates strengthening this phase. He pointed out the
 
Electronic Card
 
importance of the Central Bank of Iraq taking action to
 
     reach an agreement with the United States and
     establish an official platform for transactions by
     creating an electronic payment card for use in Iran, Russia, and other sanctioned countries.
 
This would reduce demand for dollars, he noted, noting that
 
this would
 
     serve small traders and travelers,
     address many problems,
     reduce smuggling and illegal trade, and
     increase the value of the local currency.    
  
https://alsabaah.iq/113508-.html    

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 5-1-25

Good Morning Dinar Recaps,

COULD THE SEC SETTLE WITH RIPPLE LAWSUIT USING XRP?

▪️John Squire suggests SEC might settle Ripple case by accepting XRP instead of cash.

▪️Delaying XRP ETF approval could help SEC avoid rising prices before settlement deal.

▪️June 17 ETF delay might be part of SEC’s calculated move, says Squire.

A surprising idea is gaining attention in the crypto world as social media influencer John Squire suggests that the U.S. Securities and Exchange Commission (SEC) could be planning to settle its lawsuit with Ripple by accepting XRP tokens instead of cash.

Will the SEC truly accept XRP as a payment? Let’s find out!

Delaying ETF Could Be a Strategic Move

In a recent tweet that’s now widely shared, John Squire suggests that the SEC could be delaying the approval of XRP spot ETFs on purpose. Because if they plan to settle the Ripple lawsuit using XRP, they wouldn’t want the price of XRP to shoot up too early.

And that’s exactly what could happen if a spot ETF is approved right now. Unlike a futures ETF, a spot ETF buys XRP directly. That demand would send the price soaring, possibly making XRP too expensive for a favorable government settlement.

Therefore, to keep XRP’s price lower, there has been a delay in the settlement process.

If XRP Is Used as Payment

The theory comes after journalist Eleanor Terrett confirmed that the SEC had delayed its decision on Franklin Templeton’s XRP spot ETF until June 17. Squire argues that this delay is not a coincidence but part of a broader strategy.

Squire says that if the SEC accepts XRP as payment, it would show they no longer see it as illegal. He also points out it wouldn’t make sense for the U.S. government to take payment in something they say is not allowed.

Such a settlement could also lead to regulatory clarity for XRP, encourage institutional investment, and possibly mark the beginning of a new bull run for the token.

XRP Price Outlook

As of now, XRP is trading around $2.20, reflecting a drop of 0.63%, with a market cap hitting $129.13 billion.  However, the 1-day chart suggests that if XRP goes above $2.40, it could start a strong upward trend toward $2.60 or even $2.90. But if it falls below $2, it might trigger more big sell-offs.

@ Newshounds News™
Source:  Coinpedia

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NORTH CAROLINA HOUSE PASSES STATE CRYPTO INVESTMENT BILL

North Carolina’s House passed a bill to allow the state treasurer to invest government funds in approved cryptocurrencies with a 71 to 44 vote.

North Carolina’s House of Representatives has passed a bill allowing the state’s treasurer to invest public funds in approved cryptocurrencies, which will now head to the Senate.

The House passed the Digital Assets Investment Act, or House Bill 92, on its third reading on April 30 by a vote of 71 to 44.

Republican House Speaker Destin Hall introduced the bill in February, which would allow the treasurer to allocate 5% of the state’s investments into designated digital assets.

The investments can only be made after obtaining an independent third-party assessment confirming that the crypto holdings are maintained with a secure custody solution and risk oversight and regulatory compliance standards are met.

New amendments allow the treasurer to examine the feasibility of allowing members of retirement and deferred compensation plans to elect to invest in digital assets held as exchange-traded products (ETPs).

The House also passed a related bill, the State Investment Modernization Act, or HB 506, with little discussion on April 30, in a 110 to 3 vote.

The bill aims to create the North Carolina Investment Authority (NCIA) to take over investment management from the treasurer.

If passed into law, the authority to invest in digital assets would transfer from the treasurer to NICA, and approval would be required from its board of directors based on third-party assessments to make crypto investments.

Local news outlet NC Newsline reported that Treasurer Brad Briner supports both bills.

Arizona leads the crypto bill race

North Carolina is second to Arizona in the state-level race to approve legislation allowing local governments to invest in cryptocurrencies.

On April 28, Arizona’s House approved two bills, SB 1025 and SB 1373, proposing different methods for the state to establish a crypto reserve.

Arizona is the only state whose House and Senate have passed crypto-related bills, which are both awaiting Governor Katie Hobbs’ decision.

@ Newshounds News™
Source:  CoinTelegraph

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“Tidbits From TNT” Thursday Morning 5-1-2025

TNT:

Tishwash:  Fuad Hussein arrives in Oman to exchange views on "current challenges"

Fuad Hussein arrives in Oman to exchange views on "current challenges"
The Iraqi Ministry of Foreign Affairs announced the arrival of its Minister, Fuad Hussein, to the Omani capital, Muscat, on an official visit aimed at strengthening bilateral cooperation between the two countries.

The ministry said in a statement that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein is scheduled to hold meetings during the visit with a number of Omani officials, most notably the Omani Minister of Foreign Affairs, Badr bin Hamad Al Busaidi, to exchange views on regional and international developments and current challenges."

The statement indicated that the Iraqi Ambassador to Muscat, Qais Al Ameri, and embassy staff attended the reception ceremony.  link

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Tishwash:  The majority of Iraq's financial assets are in US dollars. Al-Sudani's advisor discusses linking Iraqi banks to US banks.

On Wednesday, April 30, 2025, Mazhar Mohammed Salih, advisor to the Prime Minister for Financial Affairs, spoke about the repercussions of linking Iraqi banks to American banks.

As long as Iraq is within the dollar zone like other OPEC countries, with the US dollar constituting the majority of its financial assets from oil revenues, it is in our country’s interest to deal equally with the US commercial banking system as a global correspondent power for national banks, especially when dealing with more than one US bank operating globally (Global Bank) that has major global branches and arms, ” Saleh said in a press statement followed by Al-Jabal.

He pointed out that "the Central Bank of Iraq's efforts to link national banks with major banks and financial institutions in the United States, with more than one bank that enjoys international standing, is an important means of providing economic stability and improving the investment, trade, and development climate in our country through integration with the dollar trade, banking, and investment zone, which remains one of the strongest and most important monetary zones in the world."

He stressed  that "reducing the costs of foreign banking transactions requires direct banking cooperation with more than one American (Global) bank, and that the Central Bank of Iraq is moving in the right, open, and rapid direction in assessing its priorities to serve the stability of the national economy at the level of foreign banking transactions and implementing them with the required speed and high guarantees ."

He pointed out that "the second American bank is responsible for providing opportunities for Iraqi banks as a global correspondent bank with multiple branches and operations to quickly implement banking operations, whether in transfers or financing foreign trade for our country's markets, without obstacles and with transparency and high governance. In addition, it provides financing and credit lines for trade and investment in Iraq, as well as benefiting from digital banking services and highly advanced international standards, which will bring our national banks to the required global level.

These are factors that encourage the investment and business climate in our country at the same time, in the midst of integration and cooperation with the international banking system."  link

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Tishwash:  KRG official publicly criticizes Iraq’s Trade Bank over delays to ATM rollout and bank cards

 A senior official in the Kurdistan Regional Government publicly criticized Iraq’s Trade Bank on Wednesday, citing significant delays and insufficient cooperation in the rollout of a high-profile digital banking initiative intended to modernize public salary payments.

The initiative, known as My Account, launched in September 2023, aiming to allow government employees in the Kurdistan Region to receive salaries digitally via bank-issued cards, reducing dependency on cash and increasing financial transparency. TBI was among several banks selected for participation.

“We are pleased to announce that the Trade Bank of Iraq is now part of the My Account project to digitize salary payments in the Kurdistan Region,” the ministry had said in a statement last year. Although welcomed in May 2024 by the Kurdistan Ministry of Finance, TBI’s participation has become a source of concern.

Nearly a year later, officials say the bank has fallen short of its commitments.

Aziz Ahmed, deputy chief of staff to KRG Prime Minister Masrour Barzani and the official leading the My Account team, spoke candidly to 964media. “It’s true, this is the first time we are publicly expressing our concerns about one of the banks in the My Account project, which is TBI,” he said. “But the scale of the issues with this bank can no longer be overlooked.”

Ahmed explained that the KRG has been waiting for over a year for TBI to fulfill a pledge to install 100 ATMs. “Despite over 40,000 requests from public employees in the Kurdistan Region to open accounts with the bank, the ATM installation process hasn’t moved forward, and the issuance of My Account cards has also been delayed,” he said.

The delay, according to Ahmed, is not just administrative but has practical consequences. “The delay in delivering ATMs and distributing bank cards has affected the speed of the banking rollout and has harmed public employees in the region,” he said.

Other banks participating in the program have also experienced occasional technical setbacks, but those were typically resolved without long-term disruption. “The level of difficulty we’ve had with TBI is different and ongoing,” Ahmed said. “Issues faced by other banks, such as temporary ATM outages, were addressed and solved. That has not been the case with TBI.”

According to the latest data obtained by 964media from the My Account project, there are approximately 650 ATMs available across the Kurdistan Region—many newly installed as part of the initiative. The project aims to expand this network to over 1,200 ATMs, reaching beyond major cities to include towns and remote areas.

This expansion is intended to ease salary access for the Kurdistan Regional Government’s 1.2 million public sector employees—roughly one ATM for every 1000 workers.

Eight banks are currently participating: BBAC, Cihan Bank, RT Bank, Bank of Baghdad, Iraqi Islamic Bank, National Bank of Iraq, Trade Bank of Iraq, and the International Development Bank.

964media has learned that the project has registered around 750,000 employees so far, with more than 450,000 having received their bank cards, enabling them to withdraw salaries from ATMs after being paid directly to their individual bank accounts.

The project has vowed to register all public sector employees for digital banking accounts by the end of this year.

Ahmed said the KRG has formally raised the issue with both the Central Bank of Iraq and the office of Iraqi Prime Minister Mohammed Shia al-Sudani. “Despite our repeated official communications and efforts to resolve the problems with the bank at the highest levels, the response and cooperation have not met expectations.”

Frustrated by the lack of progress, the KRG has opted to go public. “The lack of a satisfactory outcome from those efforts has left us no choice but to make our concerns public in the spirit of transparency,” Ahmed said.

My Account functions as an alternative to Baghdad’s Tawtin (localization) program. In February 2024, Iraq’s Federal Supreme Court ruled that salaries for public employees in the Kurdistan Region must be paid directly by the federal government, rather than through the KRG’s allocated share of the national budget.

In September 2024, public sector workers in Erbil and Sulaymaniyah expressed growing frustration as some ATMs ran out of cash, leaving many unable to access their delayed wages. However, officials overseeing the My Account project say those problems have since been addressed and that the system is now operating more smoothly. There have been no reports of widespread issues since.  link

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Mot:  'Footloose' - Dancing In The Movies  https://www.youtube.com/watch?v=0rLhJZTHYo4

Mot: 40 FINGERS - Sound Of Silence & The Last Of The Mohicans

https://www.youtube.com/watch?v=vOd6QAuK2YE

Seeds of Wisdom RV and Economic Updates Wednesday Evening 4-30-25

Good Evening Dinar Recaps,

UK DECIDES TO ALIGN WITH US RATHER THAN EU OVER CRYPTO REGULATION: INTRODUCES NEW RULES

Amidst fear of losing ground to global fintech hubs, the UK has announced new draft regulations for the crypto sector.

On 29 April 2025, Finance Minister Rachel Reeves said, “Through our Plan for Change, we are making Britain the best place in the world to innovate – and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of Fintech and protect people across the UK.”

The UK government is now introducing compulsory regulation for crypto exchanges, dealers, and agents.

Importantly, the UK has decided to align with the US, treating crypto assets as securities. This marks a departure from the EU’s Markets in Crypto-Assets (MiCA) framework, which took effect in December 2024.

“The Chancellor also revealed that the UK and US will use the upcoming UK – US Financial Regulatory Working Group to continue engagement to support the use and responsible growth of digital assets,” the UK government website said.

The government aims to finalize the legislation by the end of 2025.

UK’s Clear New Rules To Boost Investor Confidence

Furthermore, the Chancellor also revealed that discussions with the US about supporting the use and responsible growth of digital assets are underway, as the government works in national interest to drive growth through Plan for Change.

The Chancellor also announced that the government will publish the first-ever Financial Services Growth and Competitiveness Strategy on 15 July, alongside her Mansion House speech. This will support the financial services sector’s long term growth, with Fintech identified as a priority sector, and help it finance investment and growth across the UK.

Around 12% of UK adults now own or have owned crypto, up from just 4% in 2021.

Industry Leaders Urge UK To Address Urgent Concerns Around Regulation, Funding, Innovation

Despite the government’s efforts, several fintech and crypto executives have expressed concern that the UK is losing its competitive edge.

“I think the UK will get it right — but there is a risk if you get it wrong that you drive innovation to other markets,” Keith Grose, Coinbase’s UK head, revealed CNBC on 30 April 2025.

Meanwhile, Jaidev Janardana, CEO of digital bank Zopa, weighed in too. “If I consider the pace of innovation, I believe the US is currently ahead – despite its own set of challenges. Yet, when you look at places like Singapore and Hong Kong, there is significantly faster innovation,” he said.

Tim Levene, CEO of venture capital firm Augmentum Fintech, said, “We’re scrambling around looking for pots of capital in the UK, where currently it would be more fruitful to go to the Gulf, to go to the US, to go to Australia, or elsewhere in Asia, and that that doesn’t feel right.”

@ Newshounds News™
Source:  99Bitcoins

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BRICS MAY PUSH GOLD PRICE TO $6,000 AS US TRADE WAR TALKS PERSIST

With continued geopolitical unrest, the rush to haven assets has been an undeniable reality. That could benefit one economic alliance that has sought out a US dollar alternative for much of the last year. Indeed, the BRICS alliance may push the gold price to heights of $6,000 as talks of an impending US trade war persist.

Since its unveiling of sweeping global tariffs in early April, tension between the US and China has reached a fever pitch. Moreover, that has created increased conflict within the alliance itself, as the group has recently failed to deliver a joint statement. Yet, all eyes are on gold, as the developments could only fuel the asset that BRICS nations have purchased rampantly throughout the last year.

BRICS May Push Gold to New Heights Amid US Tensions

Since he emerged victorious in the 2025 US presidential election, Donald Trump has expressed his issues with the BRICS alliance. He threatened 150% tariffs on the bloc for their role in global de-dollarization efforts. Although that didn’t come to fruition, China is facing import duty increases of up to 245% amid its recent roll-out of America-first trade policies.

These could only strengthen the Global South collective, however, as the policy reshapes the international economy. Indeed, the BRICS bloc may push the gold price to $6,000 as talks of a US trade war persist.

US Global Investors CEO and executive chairman of Hive Digital Technologies, Frank Holmes, recently discussed gold’s potential. “I think the goal should be going to $6,000 over the term for President Trump,” Holmes said. “If the tariffs go up 25%, then the dollar has to go down 25%,” Holmes added.

The expert was articulating the reality that the ongoing economic policy and the greenback have an adverse relationship. Since he entered office, the US dollar has plummeted 10% over the first 100 days of Trump. Moreover, BRICS, and China specifically, have ramped up gold buying.

The People’s Bank of China has been the largest covering buyer of gold for more than five straight months. Moreover, in Q1 alone, it added 27 tonnes to its reserves, making it the largest holder in modern history. Trading at the $3,300 level, there is room for the asset to skyrocket, especially if the Trump tariff plan is resumed in the coming month.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Some Iraq News Posted by Clare at KTFA 4-30-2025

KTFA:

Clare:  Government advisor: Linking national banks with their American counterparts provides a means for economic stability.

4/30/2025  - Baghdad

Prime Minister's advisor, Mazhar Mohammed Salih, confirmed on Wednesday that linking up with US banks provides financing and credit lines for trade and investment in Iraq. He also explained that direct cooperation with more than one US bank reduces the costs of foreign transactions.

“As long as Iraq is within the dollar zone like other OPEC countries, with the US dollar constituting the majority of its financial assets from oil revenues, it is in our country’s interest to deal equally with the US commercial banking system as a global correspondent for national banks, especially when dealing with more than one US bank operating globally (Global Bank) that has major global branches and arms,” Saleh said in a statement reported by the official news agency and seen by Al-Eqtisad News.

He added, "The Central Bank of Iraq's efforts to link national banks with major banks and financial institutions in the United States, with more than one bank that enjoys international standing, is an important means of providing economic stability and improving the investment, trade, and development climate in our country through integration with the dollar trade, banking, and investment zone, which remains, without a doubt, one of the strongest and most important monetary zones in the world."

He pointed out that "reducing the costs of foreign banking transactions today requires direct banking cooperation with more than one American bank (Global), and that the Central Bank of Iraq is moving in the right, open, and rapid direction in assessing its priorities to serve the stability of the national economy at the level of foreign banking transactions and implementing them with the required speed and high guarantees."

Saleh explained that "the second American bank provides opportunities for Iraqi banks as a global correspondent bank with multiple branches and operations to quickly implement banking operations, whether in transfers or financing foreign trade for our country's markets, without obstacles and with transparency and high governance.

 In addition, it provides financing and credit lines for trade and investment in Iraq, as well as benefiting from digital banking services and highly advanced international standards, which will bring our national banks to the required global level.

These are factors that encourage the investment and business climate in our country at the same time, in the midst of integration and cooperation with the international banking system."   LINK

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Clare:  Ministers, experts, and journalists met... the outcome of the Iraqi Foreign Minister's visit to Washington

4/30/2025

Foreign Minister Fuad Hussein concluded his official visit to Washington, D.C., on Wednesday, during which he met with a number of American officials and representatives of research and media institutions.

The Ministry of Foreign Affairs stated in a statement received by 964 Network:

Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein concluded his official visit to Washington, D.C., which began on Thursday, April 24, 2025. He held a series of high-level meetings with senior U.S. officials and representatives of research and media institutions.

On Friday, April 25, the Minister met with his American counterpart, Mr. Marco Rubio, at the US State Department. The two sides discussed ways to enhance bilateral cooperation, particularly in the political, security, and economic fields. During the meeting, Mr. Fuad Hussein also stressed the importance of reviewing US security warnings regarding travel to Iraq.

At his residence in Washington, the Minister held meetings with a number of senior officials and experts, including Mr. Tim Lenderking, Senior Official in the Bureau of Near Eastern Affairs, and Ms. Victoria Taylor, Deputy Assistant Secretary of State for Iraq and Iran, where they discussed bilateral relations and ways to strengthen them.

On Saturday, April 26, Mr. Fuad Hussein also received Mr. Douglas Silliman, President of the Arab Gulf Research Institute and former US Ambassador to Iraq, Mr. Zalmay Khalilzad, former US Ambassador, in addition to a number of prominent figures in the fields of politics, media, and energy, including Ms. Barbara Leaf, Mr. Kenneth Pollack, Mr. Michael Gordon, Mr. Mark Rowland, Mr. Matthew Zeiss, Dr. Eisen Maroji, Mr. Andrew Parasiliti, and former US Ambassador to Iraq, Alina Romanowski.

As part of his diplomatic activities, the Minister visited the Embassy of the Republic of Iraq in Washington on Monday, April 28, and met with the Iraqi Ambassador to the United States, Mr. Nizar Al-Khairallah, and embassy staff, learning about the progress of work and efforts made to strengthen Iraqi-American relations.

The Minister also participated in two roundtable discussions organized by the Washington Institute for Near East Policy and the Middle East Institute (MEI), attended by a select group of researchers and experts. The discussions addressed regional developments, Iraq's growing role in the region, and the future of relations between Baghdad and Washington.

On Tuesday, April 29, US National Security Advisor Mike Waltz received Mr. Fuad Hussein at the White House, in the presence of a number of senior officials. The meeting discussed regional security and shared challenges.

The Minister also met with US Deputy Secretary of the Treasury, Dr. Michael Falkender, where the two sides discussed Iraq's energy situation and the Iraqi government's efforts to achieve electricity independence.

On the sidelines of the visit, Mr. Fuad Hussein conducted interviews with a number of prominent media outlets, including Al-Sharq Channel, Bloomberg, Sky News, Al-Iraqiya, Rudaw, and Kurdistan 24, during which he addressed Iraq's most prominent positions on regional and international issues.

At the conclusion of his visit, the Minister held a roundtable discussion with a select group of journalists and correspondents from American media outlets at the Iraqi Embassy in Washington. The discussion was attended by Ambassador Nizar Al-Khairallah, members of the accompanying delegation, and embassy staff. He reviewed the most important outcomes of his visit and the prospects for Iraqi-American relations in the coming period.  LINK

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Clare:  Al-Sudani opens doors to Baker Hughes... Iraqi gas on the negotiating table

4/30/2025

Prime Minister Mohammed Shia al-Sudani discussed the Iraqi gas file on Wednesday with Lorenzo Simonelli, Chairman and CEO of Baker Hughes, an American company. Simonelli affirmed that all necessary facilities would be provided for the company's work in Iraq.

The Prime Minister's Office stated in a statement received by Shafaq News Agency, "Al-Sudani received the Chairman and CEO of Baker Hughes, an American oil and energy services company, Lorenzo Simonelli. During the meeting, they discussed prospects for cooperation in the energy sector and reviewed the company's projects in Iraq, including the completion of gas processing units in the Nasiriyah field with a capacity of 200 million standard cubic feet, the first phase of which is expected to be completed before the summer of 2026, while the second phase will be completed in 2027."

Al-Sudani pointed out that "the government is ready to provide all necessary facilities and support for the company's operations in Iraq, in light of government procedures for the entry of businessmen and companies into the Iraqi market," noting that "the government has worked to improve the business environment to attract companies across all sectors."

For his part, Baker Hughes expressed his company's "commitment to implementing energy projects in Iraq and expanding its scope of
work," stressing that "Iraq boasts promising investment opportunities in various fields." LINK

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Clare:  Iran announces cooperation with Iraq on oil, associated gas, and offshore exploration.

4/30/2025

Iranian Oil Minister Mohsen Paknejad announced on Wednesday the signing of four joint cooperation documents with Iraq in the oil and gas sector.

In a statement to reporters today, Paknejad said that he had visited Iraq two weeks ago at the invitation of the Iraqi oil minister, during which four cooperation documents were signed.

He added, "Two of these documents are in the form of cooperation plans, including implementation and participation regarding the collection of associated gases in Maysan Governorate and near the border, which could not be released due to a lack of raw materials," adding that "if this project is implemented, it will be possible to launch it."

The Iranian oil minister continued, saying, "There is also another issue related to joint work on offshore exploration operations in areas shared within Iraqi territorial waters and studies related to developing the Khorramshahr field, which is shared with the Sinbad field in Iraq. Documents have been signed in this regard."

Iranian Oil Minister Mohsen Paknejad arrived in Baghdad on Monday, April 14, for a two-day official visit at the invitation of his Iraqi counterpart to discuss ways to enhance cooperation between the two countries in the oil and energy sectors.

An informed source told Shafaq News Agency that the Iranian minister, upon his arrival, held a meeting with the Iraqi oil minister, where they discussed cooperation in the energy sector and signed four memoranda of understanding.

It's worth noting that the Iranian minister met with his Iraqi counterpart, Minister of Electricity Ziyad Ali Fadhil, in February 2024, during which they emphasized enhancing cooperation in the oil, gas, and electricity sectors.

For his part, Iraqi Oil Minister Hayan Abdul Ghani confirmed the signing of memoranda of understanding and agreements with Iran to exchange expertise, serving the interests of both countries and enhancing joint cooperation in various sectors.

Abdul Ghani indicated, in a statement received by Shafaq News Agency, that "Iraq has promising gas investment projects and is working to achieve self-sufficiency in petroleum derivatives."LINK

Iraq Economic News And Points To Ponder Wednesday Morning 4-30-25

Finance: Work Is Underway To Implement The ASYCUDA System In Customs

economy | 10:24 - 04/29/2025   Mawazine News – Baghdad  The Ministry of Finance confirmed, on Tuesday, that it is proceeding with automation programs in the ministry's sectors, while indicating that work is underway to implement the ASYCUDA system in the customs sector.

The Director General of the Financial and Accounting Training Center at the ministry, Ahmed Al-Dahlaki, said: "The Ministry of Finance is proceeding with the issue of automation and a comprehensive system in the ministry's sectors, including the banking sector."

He explained that "work is underway to implement the ASYCUDA system in the customs sector, as experts at the United Nations are training employees for the purpose of its implementation."

He added that "other departments in the ministry are working on digital transformation and automation," noting that "part of the work of the Financial and Accounting Training Center is capacity building, and there are intensive courses at the center for this purpose https://www.mawazin.net/Details.aspx?jimare=260982

Al-Eqtisad News Publishes The Full Minutes Of The Cabinet Session.

Money and Business   Economy News – Baghdad  Al-Eqtisad News publishes the full minutes of the 17th Cabinet session held on Tuesday, chaired by Prime Minister Mohammed Shia al-Sudani.

The Prime Minister's media office said in a statement seen by Al-Eqtisad News, "Al-Sudani chaired the 17th regular Cabinet session today, Tuesday, during which the general situation in the country was discussed, a number of files included in the government's strategic plans were followed up, in addition to discussing the topics on the agenda and taking the necessary decisions regarding them."

The statement added, "The Council of Ministers agreed to authorize the Mayor of Baghdad and the governors, according to their specialization, to allocate plots of land belonging to municipal institutions to government service departments for use for official purposes, based on the provisions of the Municipal Administration Law (165 of 1964) as amended."

He added, "Within the framework of the strategic agreement signed between Iraq and Turkey during the Turkish President's visit to Baghdad last April, the Council authorized the Minister of Water Resources to issue invitations and sign contracts to implement projects such as the Al-Jazeera Irrigation Project, the Hawija Irrigation Project, the Abu Takia Dam Project, the Al-Abyad Dam Project, and the Khazar Dam Project."

He pointed out that "as part of the government's efforts in the environmental field, the Council voted to adopt the "National Initiative for Environmental Monitoring and Inspection" as a strategic national measure, taking into consideration amending the initiative to include the Ministry of Environment contracting with relevant authorities to provide technical and logistical support to the environmental monitor in accordance with the law."

He continued: "Within the framework of health efforts to confront epidemics, the Council of Ministers approved the recommendations of the Diwani Order Committee (23514 of 2023) as follows:

1- Establishing the National Committee for One Health, the national body responsible for managing all health and epidemic events and crises, and making the necessary decisions to protect society. It will be the body responsible for evaluating and directing events with the relevant authorities, to ensure an integrated and coordinated response to epidemic diseases.

2- Allowing the import of meat or live animals, with emphasis on taking all necessary measures to ensure their safety before and after their entry into Iraq, in order to preserve food security.

3- The Ministry of Finance shall finance an amount of (3) billion dinars, from the emergency reserve budget, to the National Committee for One Health, to enable it to implement measures to control the spread of diseases, according to its operational plan, in a way that contributes to controlling diseases, including media, awareness, guidance and oversight activities, according to the classification of the Ministry of Health, as follows: (1.750) billion dinars to the Ministry of Agriculture, (1) billion dinars to the Ministry of Health, and (250) million dinars to the Ministry of Environment.

4- Providing continuity of service to government slaughterhouses for a period of (3-5) years, after qualifying them with the necessary requirements, processing units and veterinary supervision.

The statement added, "In the electricity file, the Council approved the following:

First: The invitation for long-term maintenance (LTSA) for the (DIBIS 2×160 MW GTE-160) units for a period of five years, for the (Dibs Gas Power Plant) under the supervision of the German company (Siemens Energy), with a period of implementation and maintenance of (5 years), according to the time schedule, and a continuous operation guarantee period of 5 years and (365 days) at the expense of the operating budget of the Ministry of Electricity after the last maintenance, and from an American or European origin, arriving at the station site at the expense of the German company, and authorizing the General Manager of the General Company for Electricity Transmission/Northern Region to sign the contract with the company.

Second: Referring the invitation for the supply of materials/first phase for the rehabilitation of units (1, 2, 4) of the Al-Musayyab Thermal Power Plant, to the German company (Siemens Energy), according to the payment method submitted by the company, and authorizing the General Manager of the General Company for the Production of Electricity/Middle Euphrates the authority to refer and contract, provided that the procedures for the contract are in accordance with the instructions for implementing government contracts (2 of 2014) and the controls attached to it.

The statement highlighted that, "In the transportation sector, approval was given to authorize the Minister of Transportation to negotiate and sign a draft cooperation agreement between Iraq and Tunisia in the field of maritime transport, based on the provisions of the Constitution. ‘

The Ministry of Foreign Affairs will prepare the necessary authorization document and submit it to the General Secretariat of the Council of Ministers for the Prime Minister's signature."

The Council approved the draft law on the protection of volunteer first responders and rescuers, which was reviewed by the State Council, and referred it to the House of Representatives, taking into account the comments of the Legal Department of the General Secretariat of the Council of Ministers, in light of the changes made by the State Council to the aforementioned draft law.

He explained that, "Within the government's work on infrastructure projects and the completion of those that are lagging behind, the following was approved:

1. Increasing the total cost and reserve amount for the project contract (construction of the second lane of the Rumaitha-Najmi Road, with a length of (12,700 km) included in the budget of Muthanna Governorate, with amending the project name to include details of the new section.

2. Creating a component (consultant/resident engineer for the complementary works project to establish a hospital in Basra Governorate) including the reserve amount, with an increase in its total cost, along with an increase in the total cost of the project (establishing a hospital in Basra Governorate).

3. Increase the reserve amount and the total cost of the contract (engineering supervision of the construction project of the General Secretariat of the Council of Ministers building).

The statement concluded, "Within the framework of completing the oil refinery projects, the Council approved increasing the cost of the component (granting license P/2171/2 (FCC, CCR, NHT, PENEX)) and increasing the reserve amount for the aforementioned contract within the total cost of the (Karbala Refinery) project."  57 views   04/29/2025 - https://economy-news.net/content.php?id=54952

A Parliamentary Committee Announces Its Intention To Pass "Important Legislation" In The Next Parliamentary Session.

economy | 05:26 - 04/29/2025   Mawazine News - Baghdad –   The head of the Parliamentary Finance Committee, Atwan Al-Atwani, announced today, Tuesday, that the committee will submit the law of the General Authority for Monitoring the Allocation of Federal Revenues to the second reading in the next session of the House of Representatives.

A statement from his office, received by Mawazine News, stated that Al-Atwani "chaired, today, the closing session of the specialized workshop held by the Parliamentary Finance Committee in cooperation with the International Partners Foundation to discuss ways to maximize federal revenues,

" indicating that "the workshop completed on its second day the discussion of the proposed amendments to the Law of the General Authority for Monitoring the Allocation of Federal Revenues No. (55) of 2017, with the aim of activating its work by adding new tasks and powers, setting mechanisms for implementing its duties, and defining the nature of the connection and relationship with the relevant authorities."

Al-Atwani said, "The Finance Committee is proceeding with its practical steps regarding diversifying sources of income and the gradual transition towards a diversified economy and not relying excessively on oil in financing the state budget."

He added, "The committee is determined to proceed with the second reading of the first amendment to the Federal Revenue Allocation Monitoring Authority Law, after completing discussions and exchanging ideas, with the aim of activating this constitutional institution so that it can assume its true role in analyzing and evaluating the revenues of each government institution and setting realistic estimates of their revenues, whether from services or investment of assets and economic and development activities, in addition to monitoring their collection."

Al-Atwani pointed out, "The approval of this law, as we plan, represents the culmination of the efforts of the Finance Committee during this parliamentary session, and a national achievement that we are entitled to be proud of, especially since this strategic direction represents a real guarantee for a strong and robust economy, which secures the future of coming generations.
https://www.mawazin.net/Details.aspx?jimare=261007

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 4-30-25

Good Morning Dinar Recaps,

BRICS:  INDIA SEEKS TO BE A MAJOR REPLACEMENT SUPPLIER TO THE US IN TRADE

India hopes to establish a new deal with the US on trade quickly, as the country seeks to become a major replacement supplier in areas vacated by China in trade. 

New Delhi says its prepared to include a sweetener in trade talks with the US that would “future-proof” a deal by ensuring no other trade partners could have superior terms. “This clause, in a sense, future-proofs the U.S. deal and is the only way to do so,” one of the officials said.

Indian government officials are pushing for the deal to be accepted by the Trump Administration as soon as possible. Despite the tensions between the nation and the BRICS alliance, the US and India have been in revised trade talks for months.

The potential US-India trade deal represents a significant step forward in bilateral economic relations between the two nations. Secretary Bessent’s statements this week and India’s latest proposal suggest that negotiators have already made substantial progress in these ongoing discussions.

Right now, the US actively pursues trade agreements with several Asian nations as well. The Treasury Secretary provided some additional insight into these diplomatic efforts during his recent CNBC interview on Monday. Bessent stated: “The U.S. had also held very substantial negotiations with Japan, and discussions with other Asian trading partners were going well.”

India has already made several offers and pre-emptive concessions to the U.S. on trade, showing itself more eager than several other big U.S. trading partners. Unlike China, Canada, and the European Union, India has been very supportive of the Trump administration and has established a solid partnership. Furthermore, the country also wants to avoid the proposed 26% tariff on itself from the US.

@ Newshounds News™
Source:  Watcher Guru

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EU SECURITIES WATCHDOG ESMA ISSUES GUIDELINES TO COMBAT MARKET ABUSE IN CRYPTO ASSETS UNDER MICA

On April 29, 2025, the European Securities and Markets Authority (ESMA) published guidelines to enhance supervisory practices for preventing and detecting market abuse in crypto assets under the Markets in Crypto Assets Regulation (MiCA).

Tailored for National Competent Authorities (NCAs), the guidelines draw on ESMA’s experience with the Market Abuse Regulation (MAR) and address the unique aspects of crypto trading, such as its cross-border nature and heavy reliance on social media.

 They emphasize risk-based, proportionate supervision and aim to foster a unified supervisory culture through industry dialogue and NCA collaboration.

The guidelines will be translated into all EU languages, take effect three months after publication, and require NCAs to confirm compliance within two months, though ESMA encourages immediate adoption of the principles.

@ Newshounds News™
Source:  Bitcoin News

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🇪🇺 LATEST: Europe's second largest neobank, Bunq partners with Kraken to offer crypto trading services for its banking app users in six European countries starting April 29.

@ Newshounds News™
Source:  @Cointelegraph on Telegram

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“Tidbits From TNT” Wednesday Morning 4-30-2025

TNT:

Tishwash:  The Central Bank announces the launch of the Arab Financial Inclusion Week 2025.

Under the slogan "Promoting the Integration of People of Determination and Vulnerable Groups into the Formal Financial System," Financial Inclusion Week activities in Iraq kicked off this morning, Sunday, April 27, and will continue until May 5 of this year.

These activities are in line with the Central Bank of Iraq's efforts to promote financial inclusion in society and raise financial and banking awareness among various segments of society, especially those least benefiting from formal financial services. This will contribute to supporting economic and social development and achieving sustainability.

The week's activities include organizing workshops, exhibitions, direct awareness campaigns, and field trips aimed at spreading financial literacy across bank branches and financial institutions spread across all governorates. Activities will also be organized outside the branches in coordination with the Association of Islamic Banks, the Association of Private Commercial Banks, and the "We Will Reach You" and "Spare You" campaigns approved by the Central Bank.

Central Bank of Iraq
Media Office
April 27, 2025  link

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Tishwash:  To support small and medium-sized enterprises, a financing partnership was signed with the German Development Bank.

The Ministry of Planning announced today, Tuesday, the signing of a strategic financing partnership between the International Labor Organization and Iraqi financial institutions, within the framework of the Small and Medium Enterprises Development and Enhancement Project, funded by the German Development Bank (KfW).

Sabah Jundi Mansour, Director General of Economic and Financial Policies at the Ministry of Planning, explained in a statement received by Kalima News that "the importance of this partnership lies in supporting economic policies that focus on creating sustainable job opportunities and enhancing social protection, especially for vulnerable groups," noting that "the project represents a practical step toward activating responsible investment and linking financing tools to fair and comprehensive development policies." 

He pointed to "the role of Iraqi financial institutions in embracing qualitative cooperation with the International Labour Organization, which will enhance financial inclusion and open new horizons for entrepreneurship and local development." 

It is worth noting that "this partnership is part of joint efforts to support Iraq in achieving the Sustainable Development Goals, particularly Goal 8 on decent work and economic growth, and Goal 1 on eradicating poverty."  link

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Tishwash:  Due to the drop in oil prices, the Iraqi government is considering canceling the 2025 budget.

An Iraqi cabinet source said on Wednesday that the government is considering canceling the 2025 budget due to the drop in oil prices, which has increased the country's fiscal deficit .

The source told Shafaq News Agency, "The Council of Ministers did not formally discuss the budget schedules in its previous sessions, and Finance Minister Taif Sami informed the Council of Ministers that there is a large deficit in the budget schedules ."

He added, "Under current conditions, there will be no budget this year due to the decline in oil prices, which has directly impacted financial revenues and increased the deficit in the 2025 budget ."

The source explained that "if the budget is cancelled, Finance Minister Taif Sami may issue a decision to release bonuses and promotions for state employees that were halted and delayed due to the budget."

On April 16, the Parliamentary Finance Committee warned against adjusting the price of a barrel of oil in the Iraqi federal general budget due to the decline in global oil prices .

Committee member Jamal Kocher told Shafaq News Agency, "The price of a barrel of oil was set in the general budget law at $70 per barrel. At the time, the price of a barrel of oil was more than $70. It is not yet known whether the government has adjusted the price of a barrel of oil in the budget or not ."

Kocher pointed out that "the Iraqi state's operating budget is only 90 trillion dinars, and if the price of a barrel of oil falls below $60 and this is not addressed, this will lead the country to enter a financial crisis, and the government will spend the financial revenue from oil on employee salaries only   link

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Mot: . Spring is in da Air!!!!

Mot Sorry!! --- ((( heeee heeee heeee )))