Seeds of Wisdom RV and Economic Updates Saturday Morning 5-10-25

Good Morning Dinar Recaps,

SEC MOVES TO END RIPPLE CASE AS COMMISSIONER REBELS: $75M RETURNS TO XRP GIANT

The SEC Ripple lawsuit has just reached a pivotal turning point as the Securities and Exchange Commission recently filed a motion seeking court approval for a settlement with Ripple Labs. Under the proposed deal that’s currently being reviewed, Ripple would recover $75 million of the $125 million that was held in escrow, while the SEC would receive the remaining $50 million.

Ripple’s $75M SEC Settlement: What It Means for XRP and Crypto Regulation

The SEC Ripple lawsuit settlement marks what appears to be the potential end to a legal battle that first began back in December 2020. As per the May 8 court filings, both parties have agreed to withdraw their appeals, virtually ending one of the most important and keenly followed cases in crypto regulation news.

Commissioner’s Opposition Reveals SEC Division

Not everyone at the SEC supports the resolution. Commissioner Caroline A. Crenshaw issued a public dissent:

“This settlement is a tremendous disservice to the investing public.”

Crenshaw warned that the SEC Ripple lawsuit settlement could weaken the agency’s enforcement power and negatively impact future XRP price prediction analyses in unexpected ways.

XRP’s Market Struggle During Litigation

The XRP lawsuit impact was immediate and significant when the case began. According to the crypto analyst behind the account All Things XRP:

“It didn’t just slow XRP down — it stole years of growth.”

While Bitcoin and Ethereum surged during the 2021–2023 bull market, XRP stagnated between approximately $0.30–$0.50, missing out on substantial gains and altering many XRP price predictions at the time.

Settlement Terms and Future Implications

The SEC Ripple lawsuit resolution preserves Judge Torres’ 2023 ruling that only institutional XRP sales violated securities laws. This legal distinction remains critical for ongoing crypto regulation news and Ripple’s future operations.

If the $125 million penalty clears the court in the next few days:

• $75 million would be returned to Ripple

• $50 million would remain with the SEC

This result may provide badly needed regulatory clarity and underscore the lasting effects of prolonged litigation on XRP price forecasts and broader digital asset regulation.

@ Newshounds News™
Source:  Watcher Guru

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US TREASURY SECRETARY BESSENT LAMBASTS SENATE FOR BLOCKING STABLECOIN BILL, CALLS IT ‘MISSED OPPORTUNITY’ FOR AMERICAN LEADERSHIP

▪️ U.S. senators voted Thursday to halt progress on a stablecoin regulation bill amid escalating tensions over President Donald Trump’s crypto involvement.

▪️ Treasury Secretary Scott Bessent said American leadership is needed for stablecoins and other digital assets to thrive globally, lambasting the Senate’s “missed opportunity.”

U.S. Treasury Secretary Scott Bessent lambasted the Senate's decision on Thursday to halt the progress of the GENIUS Act amid rising tensions over President Trump's increasing crypto involvement and concerns about specific aspects of the proposed stablecoin bill.

"For stablecoins and other digital assets to thrive globally, the world needs American leadership," Bessent posted on X. "The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act."

Secretary Bessent described the bill as a "once-in-a-generation opportunity" to expand dollar dominance and boost U.S. influence in financial innovation. He argued that without such legislation, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness.

"The world is watching while American lawmakers twiddle their thumbs," Bessent said. "Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore."

A not-so-brilliant delay for the GENIUS Act

The Senate Banking Committee earlier voted to advance the GENIUS Act in March. The bill requires:

• 100% reserve backing with U.S. dollars and similarly liquid assets

• Annual audits

• Prohibits foreign issuance in the country

The Senate voted 49-48 against the bill in its current form on Thursday, with Sens. Josh Hawley (R-Mo.) and Rand Paul (R-Ky.) joining Democrats in opposing the procedural vote.

While the GENIUS Act bill resulted from bipartisan negotiations, Democrats recently raised concerns about unfinished bill text, foreign issuer oversight, and anti-money laundering provisions.

Senator Mark Warner (D-Va.) said he couldn't support legislation that wasn't yet finalized. Senate Majority Leader John Thune (R-S.D.), despite also voting no, said he did so to allow the bill to be reconsidered later, criticizing the Democrats amid multiple revised versions:

"I just have to say, frankly, I just don't get it," Thune said. "I don't know what more they want."

Tensions deepened as Trump’s personal and financial ties to crypto — including memecoin launches, $1.5 million-per-plate crypto fundraisers, and backing DeFi project World Liberty Financial — sparked accusations of conflict of interest ahead of the vote.

Some Democrats, including Rep. Maxine Waters (D-Calif.), also boycotted a crypto-focused House hearing this week, citing the president's direct crypto holdings and influence over agencies. The House Financial Services Committee also recently voted to advance a similar bill, the STABLE Act, with anti-money laundering and reserve requirements.

@ Newshounds News™
Source:  The Block

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“Tidbits From TNT” Saturday Morning 5-10-2025

TNT:

Tishwash:  Iraq's customs revenues reached 59 billion dinars after implementing the ASYCUDA system.

Finance Minister Taif Sami announced on Friday a significant increase in customs revenues following the implementation of the ASYCUDA Customs Automation System, amounting to more than 59 billion dinars.

Sami said in a statement to the official agency, followed by "Al-Eqtisad News," that "customs revenues before the implementation of the ASYCUDA system amounted to 375,675,732,360 dinars, while after the implementation they rose to 435,421,672,805 dinars, an increase of 59,745,940,445 dinars."

 She added, "The General Authority of Customs has begun implementing the ASYCUDA system in 15 customs centers, including: Air Cargo Customs, Dry Port, Baghdad International Airport Terminal, Grand Welcome Square Customs, Trebil, Safwan, Arar, Umm Qasr Middle, Umm Qasr South, Kirkuk Airport, Zurbatiyah, Al-Mundhiriyah, Mandali, Al-Shaib, and Al-Shalamcheh."

She explained that "the Authority has currently begun implementing the second phase of the system, which will extend over two years. This phase includes its implementation in eight remaining customs centers, in addition to linking 12 electronic applications to the system, including: land transport clearance, the value system, smart selectivity, the exemptions system, and licenses and certificates. This will enable the system to be linked with all ministries."  link

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Tishwash:  Legal expert: The House of Representatives has the right to extend its legislative session for 30 days to approve the budget schedules.

Legal expert Ali Al Tamimi stressed on Friday the utmost importance of approving the financial budget schedules.

Al-Tamimi explained in a statement to Al-Furat News Agency that “Article 57 of the Iraqi Constitution stipulates an annual session for the Council of Representatives with two legislative chapters, but it excludes the case of discussing and approving the general budget, as it stipulates that “the legislative chapter does not end if it includes the general budget law except after voting on it.”

The legal expert stressed that this constitutional text is considered “governing” and imposes the necessity of approving budget schedules as soon as possible, due to its direct impact on “the livelihood of society” and the stability of economic and living conditions.

In a related context, Al-Tamimi pointed out that Article 57 itself allows the possibility of extending the current legislative chapter, based on a request from one of the three presidencies or with the signatures of no less than fifty members of the Council of Representatives. In this case, an extraordinary session is held, and its meetings are limited to the matters that called for this extension.

Al-Tamimi explained that the duration of the extension of the legislative chapter is limited to “only thirty days,” and the Council’s discussions and sessions during this period must be limited to “matters related to the budget only.”

The legal expert concluded his statement by emphasizing that “the budget file is important It is necessary to extend the sessions of the House of Representatives in order to accomplish this national task that the Iraqi people are waiting for.
A parliamentary source told Al-Furat News last Tuesday that the Presidency of the House of Representatives decided to end the first legislative session of the fourth legislative year on May 9th {today, Friday} in accordance with Article (57) of the Constitution and Article (22) of the House of Representatives’ internal regulations.  link

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Tishwash:  Iranian Foreign Minister Anticipates Trump's Arrival in the Region, Visits Saudi Arabia and Qatar Tomorrow

Ahead of US President Donald Trump's scheduled tour of the region next week, Iranian Foreign Minister Abbas Araghchi will travel to Saudi Arabia and Qatar tomorrow, Saturday, the Iranian Foreign Ministry announced.

The Iranian Foreign Ministry indicated in a statement published on its website on Friday that Araghchi will first travel to Riyadh "to meet and hold talks with senior Saudi officials."

She added that he will later visit Doha "to participate in the Arab-Iranian Dialogue Conference."

This comes as a fourth round of nuclear talks between Iran and the United States is likely to be held next Sunday in the Omani capital, Muscat.
US President Donald Trump is also scheduled to visit Saudi Arabia, Qatar, and the UAE next week.
Trump, who withdrew the United States from the 2015 nuclear agreement between Tehran and world powers, has previously threatened military action if his administration fails to reach an agreement to resolve the long-running dispute over Iran's nuclear program.

It is noteworthy that since April 12, the United States and Iran have begun indirect talks on the nuclear issue, mediated by Oman.

The two sides have held three rounds so far (two in Muscat and one in Rome), which were described as positive and constructive.  link

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Mot:  babies forever

Mot:  Get Ready Ladies!!!!

Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-9-25

Good Afternoon Dinar Recaps,

THREE NEW U.S. STATE-LEVEL BITCOIN BILLS SIGNED INTO LAW
From New Hampshire to Arizona to Oregon, more proposed Bitcoin legislation has become law in recent days.

This week, three U.S. states have enacted bitcoin-related bills into law.

On Tuesday, New Hampshire became the first state to sign into law a bill that would allow for the creation of a strategic bitcoin reserve (SBR).

On Wednesday, Arizona enacted its second bill related to bitcoin, blockchain, and digital assets.

Also on Wednesday, Oregon’s governor signed a bill into law that updates the state’s commercial code to recognize digital assets such as bitcoin as collateral.

New Hampshire Can Now Establish An SBR
On Tuesday, New Hampshire signed HB302 into law, making it the first state in U.S. history with the legal footing to create an SBR.

The new law enables the state treasurer to invest in digital assets that have a market cap of over $500 billion. (Bitcoin is the only digital asset that currently meets this criteria.)

While the law doesn’t specifically call for the creation of an SBR, it does enable the state’s treasurer to create one.

This historic law was enacted thanks in part to the efforts of Rep. Keith Ammon, the primary sponsor for this bitcoin-related bill.

Arizona Governor Vetoes One Bitcoin Bill But Signs Another
On May 2, Arizona Governor Katie Hobbs vetoed SB1025, which would have enabled the state treasurer and retirement system to invest 10% of their available funds into virtual currencies.

The bill was known as the “Arizona Strategic Bitcoin Reserve Act”.

However, on May 7, Governor Hobbs signed HB2749 into law — a bill that also establishes a state-level digital assets reserve.

HB2749 amends Arizona’s unclaimed financial property statutes to allow the state to claim bitcoin or digital assets that have been abandoned or unclaimed after three years.

This is the second bitcoin-related bill Governor Hobbs has signed in recent weeks — the first being HB2342 on April 18, which protects individuals running blockchain nodes from local restrictions.

New Oregon Law Recognizes Bitcoin As Collateral
On Wednesday, Oregon Governor Tina Kotek signed SB167 into law.

This law updates Oregon’s Uniform Commercial Code (UCC) to:

• Recognize digital assets such as bitcoin as collateral

• Introduce Article 12, which establishes a legal framework for “controllable electronic records,” including cryptocurrencies

This sets the legal groundwork for bitcoin and other digital assets to be used in traditional financial products in Oregon.

Picking Up The Pace
Prior to this week, only three bitcoin-related bills had been signed into law:

• Utah’s HB0230 (signed March 12): Defined and regulated digital assets

• Kentucky’s HB701 (signed March 24): Offered protections for individuals and businesses engaging with digital assets

• Arizona’s HB2342 (discussed above)

If this week is any indication, more Bitcoin legislation may be codified into law in the near future.

@ Newshounds News™
Source:  Bitcoin Magazine

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BRICS: ASIA COULD DUMP $2.5 TRILLION WORTH OF US DOLLAR CURRENCY

The US dollar may face a huge crisis from BRICS and other Asian currencies, as Stephen Jen, CEO of Eurizon SLJ Capital, revealed to Bloomberg that an “avalanche” of USD selling worth $2.5 trillion could come from Asian countries.

He explained that Asian exporters and investors have stockpiled a massive amount of USD over the years, which could soon be dumped as the greenback weakens against local currencies in 2025.

The Bloomberg currency index shows that the USD is down 8% since February, while local currencies are outperforming the global reserve currency.

This trend gives the BRICS alliance more momentum to push the de-dollarization agenda, as $2.5 trillion worth of USD now hangs on a thread.

“We suspect these dollar hoardings by Asian exporters and institutional investors may be extremely large. Possibly on the order of $2.5 trillion or so. And pose sharp downside risks to the dollar vis-à-vis these Asian currencies,”
– Jen and Joana Freire

BRICS: US Dollar Faces a Threat of $2.5 Trillion Sell-off

BRICS and other developing nations are now economically strong enough to offload their US dollar reserves.

There is a growing belief in an “important imbalance in the world” that puts the US dollar in a vulnerable position, said Jen.

The long-term appeal of the USD is fading, as local currencies offer advantages like:

• No excessive debt burdens

• Mutual GDP strengthening when used for trade

The dollar’s dominance is shrinking globally.

De-Dollarization Expands Beyond BRICS

Beyond BRICS, de-dollarization is also accelerating in countries such as:

• Taiwan

• Malaysia

• Vietnam

In these regions, the US dollar is becoming secondary in trade and investment.

Jen further noted that Asian nations have external surpluses, which allow them to hedge against USD fluctuations with more flexibility.

“The American economy is at the crossroads of a global paradigm shift where its power is on the decline.”

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Iraq Economic News And Points To Ponder Friday Morning 5-9-25

Iraq Is On The List: The 5 Largest Electricity Deals In April 2025

Energy   Economy News - Follow-up   Algeria topped the list of the top five electricity deals in April 2025, with various important projects, according to a monthly report prepared by Energy Platform.

The North African country topped the list, thanks to a number of significant deals and projects concluded in April 2025, ranging from electricity storage to the construction and development of power plants.

Meanwhile, Iraq competed in the top five electricity deals of April 2025, thanks to a number of significant projects. This included the largest deal in the history of this important sector, ensuring the country's goal of providing reliable and safe energy to its citizens is achieved.

The United Arab Emirates joined the list of the top five electricity deals in April 2025, thanks to a significant acquisition of one of the largest companies specializing in developing electricity transmission projects. Saudi Arabia also entered the list with a significant deal. Here's the full text of the report:

Electricity Storage In Algeria

Algeria's electricity storage sector topped the list of the top five electricity deals in April 2025, thanks to an agreement signed by the Ministry of Energy, Mines, and Renewable Energy to develop and strengthen the battery industry by developing the lithium division.

Under the agreement, details of which were reviewed by the specialized energy platform, an integrated strategic project will be implemented, including the valuation of national mineral resources (lithium, iron, and phosphate), ensuring support for the country's electricity storage sector.

This agreement was signed between the National Office for Geological and Mining Research (ORGM), representing the Sonaram group, and Professor Karim Zaghib, an international expert in the field of lithium-iron-phosphate batteries, one of the most important operators in this sector.

Developing A Project That Has Been Stalled For Years

By developing a project that had been stalled for years, Algeria maintained its position at the top of the list of the top five electricity deals in April 2025. Sonelgaz, the Algerian Electricity and Gas Company (Egyptian Electricity and Gas Company), announced that it had reached a preliminary agreement to develop a power plant in Ain Oussera, Djelfa province.

According to what the specialized energy platform has seen, the proposal of the Spanish company "DURO FELGUERA" to award the remaining work of the project to build the Ain Oussara power plant in the state of Djelfa to a Chinese alliance consisting of three companies has been approved.

From The Implementation Works Of The Djelfa Power Plant - Archive

Sonelgaz explained that the agreement obligates the Chinese consortium, consisting of three companies: CPECC-APCC-NWEPDI, to gradually operate the power plant starting in the ninth month following the final agreement.

It's worth noting that the Spanish company entered the pre-bankruptcy phase in December 2024, having halted construction of a giant power plant in Algeria since June 2024.

Battery Storage In Saudi Arabia

Saudi Arabia ranked among the top five electricity deals in April 2025, thanks to a major deal that launched the second phase of a battery-powered electricity storage system. The deal, with investments exceeding SAR 6.73 billion and a capacity of 2.5 gigawatts, saw the Saudi Electricity Company sign purchase contracts with several companies.

Under the deal, this phase includes five projects, distributed across Riyadh, Qaisumah, Al-Jawf, Al-Dawadmi, and Rabigh. These projects are part of the National Renewable Energy Program, supervised by the Ministry of Energy, to enable the proportion of renewable energy capacity in the total electricity mix to increase to 50% by 2030.

The Saudi Electricity Company (SEC) signed purchase contracts with China's BYD and Al Fanar Projects to supply and build storage systems with a capacity of 500 megawatts and a capacity of 2,000 megawatt-hours for each of the five sites.

The Largest Deal In Iraq's History

Baghdad occupied a significant position on the list of the top five electricity deals in April 2025, thanks to the largest deal in Iraq's history. This deal was the signing of a memorandum of understanding (MoU) with GE Vernova, under the framework of cooperation principles, which includes projects for combined-cycle gas-fired power plants with a capacity of approximately 24,000 megawatts.

From the signing ceremony of the largest electricity deal in Iraq's history - Photo courtesy of the Ministry of Electricity

According to the memorandum of understanding, reviewed by the specialized energy platform, external financing can be secured from international banks to develop and maintain existing power plants, in addition to constructing new plants to increase generating capacity.

The American company will implement the projects in three phases, spanning the next four years, including improvements to the efficiency of existing generating units and the introduction of modern technologies to increase production without the need for additional fuel.

Emirati Acquisition Deal

The UAE joined the list of the top five electricity deals in April 2025, thanks to a deal in which Abu Dhabi National Energy Company (TAQA) acquired 100% of Transmission Investments (TI), a leading UK-based energy and utilities investment platform.

Under the deal, the Emirati company acquired a significant stake in the marine electricity transportation sector, particularly as the British company is one of the largest operators of marine electricity transportation assets and connects offshore wind power plants to the UK's electricity grid.

This deal will strengthen the Emirati company's position in this important sector, as TI will become part of TAQA Transmission Networks and provide a highly skilled and experienced team of 40 individuals.
190 views  Added 05/08/2025 - https://economy-news.net/content.php?id=55254

Globally, Gold Continues To Decline.

Time: 2025/05/08 09:30:35 Read: 1,770 times  {Economic: Al Furat News} Gold prices continued their losses during trading on Thursday, despite the US Federal Reserve's warning of increased risks to rising inflation.

In trading, gold futures fell by about 0.8% to $3,364.9 per ounce.

The yellow metal had fallen by more than 1% after the US Federal Reserve decided to hold interest rates steady. However, the US central bank announced that it had identified increased risks of rising unemployment and inflation.

Federal Reserve Chairman Jerome Powell stated that tariffs are larger than expected, and that if the large tariff increases continue as announced, "we will see higher inflation and lower employment."

However, Powell stressed that the current economic situation does not permit a preemptive interest rate cut, and that the president's calls for a rate cut do not affect their work within the Fed at all. LINK

Basra Oil Prices Rise In Global Markets

Energy    Economy News – Baghdad   Basra Heavy and Medium crude oil prices rose despite stable global oil prices.

Basra Heavy crude prices rose 49 cents to $60.41, while medium crude prices rose 49 cents to $63.56.

Global oil prices stabilized after falling by more than a dollar in the previous session. Brent crude reached $61.12 today, while US crude reached $58.12 per barrel. 139 views   Added 05/08/2025 - https://economy-news.net/content.php?id=55243

The Dollar Continues To Decline Against The Dinar In Baghdad

Stock Exchange  Economy News – Baghdad  The US dollar exchange rate fell against the Iraqi dinar on Thursday morning in Baghdad markets.

The dollar exchange rate fell on Baghdad's two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,000 dinars per $100. On Wednesday morning, the dollar exchange rate was 143,400 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets recorded a decline, with the selling price reaching 143,000 dinars for $100, and the buying price reaching 141,000 dinars for $100.

233 views  Added 05/08/2025 - https://economy-news.net/content.php?id=55247

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

Seeds of Wisdom RV and Economic Updates Friday Morning 5-9-25

Good Morning Dinar Recaps,

GENIUS Stablecoin Bill Fails Initial Senate Vote Amid Partisan Tensions

▪️The GENIUS Act, aimed at regulating stablecoins, failed its first cloture vote in the Senate with a 49-48 tally; Senator Thune changed his vote to "no" to allow future reconsideration.

▪️Democrat Senators, joined by Republicans Hawley and Paul, blocked the motion, citing the need for more time to educate lawmakers and improve the bill’s language.

▪️Senator Ruben Gallego acknowledged bipartisan progress on the bill and called for a delay until Monday, but the request was blocked—likely by Senator Warren.

▪️Concerns over Trump's crypto ties, including a $2B transaction involving the Trump family stablecoin USD1 and a UAE firm, have increased Democrat resistance.

▪️Senator Thune accused Democrats of obstruction, saying the bill had already undergone six revisions and bipartisan committee support.

@ Newshounds News™
Source:  Ledger Insights

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SEC Commissioner Peirce Proposes Flexible Framework for Tokenized Securities

▪️ SEC Commissioner Hester Peirce unveiled a proposal for a regulatory exemption framework to test tokenized securities, aiming to balance innovation with investor protection.

▪️ The proposed framework would create a sandbox-like environment, allowing firms to issue, trade, and settle tokenized assets using blockchain under controlled conditions.

▪️ Conditions include anti-fraud compliance, detailed disclosures (including smart contract risks), financial safeguards, SEC oversight, and trading volume limits.

▪️ Peirce emphasized the need for scalable, sensible regulation to reverse the 20-year decline in public listings and ensure the U.S. remains competitive in capital markets.

▪️ The initiative, inspired by global regulatory sandboxes, seeks feedback and could evolve with the maturity of tokenized markets.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

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“Tidbits From TNT” Friday Morning

TNT:

Tishwash:  A new digital gateway: Iraq launches first unified telecom transit route

Iraq has signed a strategic transit agreement with DIL Technology, a Kurdish-licensed firm, to enable seamless data flow across its territory.

The deal, finalized on Thursday by the Ministry of Communications, marks the first time Iraq presents a unified telecom front to international companies. It streamlines the process of transmitting data through the country, eliminating the need for companies to negotiate separately with federal and Kurdish entities.

Hayam Al-Yasiri, the Minister of Communications, said the agreement boosts Iraq’s potential as a secure and efficient alternative to unstable maritime routes, especially amid rising concerns from global telecom providers over regional disruptions.

The newly integrated corridor stretches from the southern port of Al-Faw to the northern border at Ibrahim Khalil border crossing, forming a continuous fiber-optic network under centralized oversight.

The agreement, according to Al-Yasiri, not only enhances Iraq’s appeal to international partners but also supports long-term revenue generation and digital sovereignty.

DIL Technology, which maintains infrastructure across Iraq’s border crossings, will serve as the technical facilitator under the federal ministry’s authority.  link

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Tishwash:  Improvement or temporary truce? The dollar's decline sparks hope in the Iraqi street. 

At a time of volatile market conditions and turmoil in citizens' pockets, the decline in the dollar exchange rate offers a glimmer of hope amid the darkness of the economic crises that have long exhausted Iraqis. Many families breathed a sigh of relief after seeing prices drop slightly, and many merchants felt a sense of reassurance as they reassessed their accounts in hopes of stability. But behind this sudden decline lie questions that are even bigger than the numbers: Is this a real improvement or merely a temporary truce?

Iraqis, tired of the dollar's rise and fall, are now viewing this decline with caution, watching the small details behind the big decisions. Amid this atmosphere, economic researcher Mustafa Hantoush, commenting today, Thursday (May 8, 2025), dotted the i's and crossed the t's.

Hantoush told Baghdad Today, "Trade with Iran, and with the ongoing talks between Iraq and the United States, has become less of a concern. Now, the Central Bank has moved to fill up $5,000, which has eased the pressure on the parallel market."

He added, "If the monopoly with Iran, the issue of travelers to sanctioned countries, and the monopoly of competition between banks are addressed, the exchange rate will return and stabilize at 1,350 dinars. But if they are not addressed, prices will remain volatile, and the decline will remain temporary."

The dollar exchange rate against the dinar recorded a new decline in local markets in Iraq today, Thursday (May 8, 2025).

A Baghdad Today correspondent said that the dollar exchange rate reached 142,000 dinars per $100 on the Al-Kifah and Al-Harithiya stock exchanges, while the selling price was 143,000 dinars per $100.

He pointed out that the purchasing price at exchange offices in local markets in Iraq is 141,000 dinars for $100.  link

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Tishwash:  The dollar's exchange rate is stabilizing towards its target: adaptation or adjustment?

Dr. Haitham Hamid Mutlaq Al-Mansour

 It became clear in the period from last April until this May that the dollar exchange rate in Iraq began to stabilize, declining towards the (official) target level. Therefore, a question may be raised in this context: Is this stability the result of “adaptation” or “adaptation”?

To answer this question, we examine the reality of monetary policy measures that strengthened the foreign exchange signal's response to the downward trend, which can be described in the following paragraphs:

1. The Central Bank's restrictive policy of controlling dollar sales to banks through transparency measures for transfers of unclear origin aimed at combating smuggling. This increased the official supply and eased pressure on the exchange rate.

2. The effectiveness of monetary policy in financing foreign trade through highly rated correspondent banks, within the framework of the US Treasury and Federal Reserve's conditions. This is in addition to the trend toward settlement in euros, yuan, and UAE dirhams, which has facilitated remittance transactions in our trade with China, Turkey, and the UAE.

3. Added to this is the decline in demand for the dollar due to the increased level of banking compliance with international conditions on dollar transfers to prevent their smuggling to Iran, Syria, and Turkey via Iraq. As a result, suspicious transfers have decreased, and illicit demand for dollars has declined, contributing to the stability of the dollar exchange rate.

4- The effectiveness of the Central Bank’s foreign reserves management to compensate for the decline in the dollar supply in the parallel market, thus curbing the exchange rate towards the target.

5- The effectiveness of the inflation targeting policy led to a slowdown in the rise in the general price level (inflation) in Iraq, which limited the phenomenon of dollarization and raised the real value of the dinar.

6- Decline in speculation in the parallel market. Following the regulatory measures, the activity of unlicensed money changers and speculators who artificially raised prices declined.

7- The effectiveness of financing travelers in dollars through the official rate using payment cards at reduced costs and at the official exchange rate of 1320 dinars per dollar, in addition to collecting cash dollars through Iraqi airports, in the amount of 3000 dollars at the official rate for each traveler per month who carries an electronic payment card.

8- External international factors related to a general weakness in purchasing power in global markets and a decline in stocks, which caused a decline in the value of the dollar and a rise in gold, leading to a decline in demand for it globally and locally.

From the above-mentioned reasons, we find that exchange rate stability, despite its importance as a short-term objective of monetary policy, was achieved through “adjustment,” i.e., a short-term price adjustment trend resulting from short- or medium-term measures and treatments for exchange rate fluctuations. The aim was to restore temporary economic equilibrium without changing the basic structure of the economy and without deep-rooted long-term policies, which reduces the effectiveness of targeting the exchange rate at the long-term target level. Stability could have been achieved as a result of long-term structural “adjustment” by following long-term policies as follows:

1- Decrease in demand for the dollar due to the availability of agricultural or industrial GDP revenues as a substitute for imports.

2- Improvement in the balance of payments thanks to non-oil agricultural and industrial exports.

3- Structurally reforming the banking system and activating the role of monetary tools, especially the interest rate structure, in a way that restores the overall balance to its natural state without a split between what is real and what is monetary.

4. Reducing rentierism by diversifying the economy through allocating resources based on foreign trade to generate national surplus value. The result: more sustainable stability, as the economy becomes less dependent on external factors.

If the current balance remains in place, the dollar supply will still be vulnerable to depletion within a year of imports if oil exports cease due to wars and threats, for example, or if the economy is exposed to similar external shocks. Furthermore, reliance on reserve management and other stringent measures will not be sufficient to ensure long-term exchange rate stability.

In conclusion, while ensuring that the exchange rate stabilizes near its target level is a significant achievement for monetary policy, the absence of structural reforms, economic diversification, improving the business environment, combating corruption, and other factors will make any exchange rate stability vulnerable to reversal, particularly with oil price fluctuations, political crises, and external shocks. This underscores the importance of planning for long-term structural adjustment at the macroeconomic policy level.  link

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Mot: Corn syrup season is here!!!!!

States To Defend People's Gold & Silver | Andy Schectman

States To Defend People's Gold & Silver | Andy Schectman

Liberty and Finance:  5-8-2025

In this livestream Q&A, Miles Franklin CEO & President Andy Schectman explores the growing grassroots movement of states pushing back against federal monetary control and defending the constitutionally protected right to sound money.

As inflation and financial instability escalate, more states are stepping up to assert their sovereignty and protect their citizens from the consequences of decades of reckless fiscal policy.

 Schectman discusses whether this movement could mark a turning point in the battle against the financial tyranny imposed since the Fed’s creation in 1913.

As inflation continues to bite and financial uncertainty looms large, a quiet revolution is brewing across the United States. A growing grassroots movement of states is pushing back against the long-standing grip of the federal government on monetary policy, asserting their sovereignty and defending the constitutionally protected right to sound money.

In a recent interview with Liberty and Finance, Miles Franklin CEO & President Andy Schectman delved into this burgeoning movement, exploring its potential to reshape the financial landscape. Could this be the turning point in the fight against the financial tyranny that, according to Schectman and many others, has been imposed since the Federal Reserve’s creation in 1913?

For decades, Americans have witnessed the erosion of their purchasing power as the Fed has printed money at will, fueling inflation and devaluing the dollar. Now, fueled by growing discontent, states are taking matters into their own hands, exploring alternative currencies, challenging tax laws related to precious metals, and demanding greater transparency in monetary policy.

Schectman highlights the significance of this movement. He argues that these states are not just reacting to the immediate pressures of inflation and financial instability, but are also asserting their constitutional rights.

The Constitution grants Congress the power to coin money and regulate its value, a power that many believe has been unlawfully delegated to the Federal Reserve.

The states are employing various strategies to reclaim control over their financial destiny.

 Some are working to exempt gold and silver from state sales taxes, effectively recognizing precious metals as legitimate forms of currency. Others are exploring the feasibility of establishing state-backed digital currencies or alternative payment systems.

This movement is not just about economics; it’s about liberty and the future of American sovereignty. By challenging the Fed’s monopoly on money, these states are implicitly challenging the federal government’s overreach and demanding accountability from elected officials.

The fight for sound money and financial freedom is a long and challenging one. But the growing grassroots movement of states pushing back against federal monetary control offers a glimmer of hope.

By working together, Americans can demand accountability from their elected officials and reclaim control over their financial destiny, securing a more prosperous and stable future for themselves and their nation.

 This movement, as Schectman suggests, could be the key to unlocking a new era of financial independence and limited government, paving the way for a return to the principles of sound money and individual liberty.

https://www.youtube.com/watch?v=oLN7q3aRhAY

Iraq Economic News And Points To Ponder Thursday Afternoon 5-8-25

Iraq Economic News And Points To Ponder Thursday Afternoon 5-8-25

Al-Mashhadani And The US Chargé d'Affaires Discuss The Arab Summit In Baghdad

Thursday, May 8, 2025 | Politics Number of readings: 71  Baghdad / NINA / Parliament Speaker Mahmoud Al-Mashhadani and the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Kennedy Trudeau, discussed on Thursday the Arab Summit to be held in Baghdad and the importance of the role of the Iraqi Parliament in passing laws that serve the public interest.

Al-Mashhadani's media office said in a statement: "Parliament Speaker Mahmoud Al-Mashhadani received the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Kennedy Trudeau, and her accompanying delegation."

The statement added that during the meeting, "the bilateral relations between the two countries and ways to strengthen them, expand the circles of understanding, and activate the friendship committees to serve the interests of the two peoples were discussed. The two sides also discussed developments in the regional, Arab and international situations, and a number of topics of common interest."

It pointed out that "the importance of the Arab Summit to be held in Baghdad on the 17th of this month and the importance of the role of the Iraqi Parliament in passing laws that serve the public interest were also discussed."

The Speaker of Parliament stressed, according to the statement, the importance of holding parliamentary elections on the scheduled date, noting that "the biggest challenge lies in broad participation."

Al-Mashhadani stressed "the importance of stopping the war on the Gaza Strip, the importance of calm in Yemen, supporting stability in Syria, and sparing the region further escalation with dire consequences." /End   https://ninanews.com/Website/News/Details?key=1225567

Abu Raghif To A High-Level Delegation From Meta: Our Digital Sovereignty Is A Priority, And Establishing A Regional Center For The Company In Iraq Is Important.

Time: 2025/05/08 Read: 1,785 times   {Local: Al Furat News} The head of the Communications and Media Commission, Nofal Abu Ragheef, received a high-level delegation from Meta, the company that owns the Facebook, Instagram, and WhatsApp platforms, at the commission's headquarters in Baghdad, headed by Basma Amari, Public Policy Manager for the Middle East and North Africa region.

A statement by the commission, a copy of which was received by {Euphrates News}, stated that "the meeting was devoted to discussing avenues of cooperation between the two sides regarding content regulation and enhancing Iraq's secure digital presence on the company's platforms."

During the meeting, Abu Ragheef stressed that "the Communications and Media Commission places at the forefront of its priorities the preservation of Iraq's digital sovereignty and the emphasis on respect for privacy and national standards in everything published on social media platforms," ​​noting "the importance of achieving clear understandings with Meta in this regard."

This is the first visit of its kind to Iraq by a senior Meta official and reflects the company's interest in developing its relationship with official Iraqi authorities as part of its efforts to understand Iraq's digital priorities and build direct and more effective communication channels with regulatory bodies.

During the meeting, according to the statement, "ways to develop joint follow-up and coordination mechanisms to monitor misleading or offensive content were discussed, and to adopt fairer and more transparent procedures for Iraqi users, particularly with regard to deleting content or blocking pages affiliated with media and official institutions."

The Communications and Media Commission also stressed the "need to adopt specific paths to verify official accounts in direct cooperation with the Commission, and to establish a regional support center for Iraq to facilitate communication with relevant authorities and address reports related to content or usage policies."

The meeting also addressed the importance of implementing joint awareness programs on digital security and information verification, in partnership with universities and civil society organizations, to support efforts to raise community awareness of digital threats and self-protection mechanisms.

At the conclusion of the meeting, Abu Raghif affirmed that the Commission "is open to conscious cooperation with global technology companies, in a way that enhances user confidence, preserves Iraq's digital presence, and ensures a fair and balanced communication environment that adheres to the state's legal and sovereign frameworks." LINK

Al-Sudani: Baghdad Is Hosting The Arab Summit At An Exceptional Moment For The Region

Thursday, May 8, 2025 | Politics Number of reads: 383   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "Baghdad is hosting the Arab Summit at an exceptional moment in our region, a moment of major transformations, open conflicts and complex regional challenges.

" Al-Sudani said in statements to the newspaper / Asharq Al-Awsat /: "The Arab Summit in Baghdad comes in a transformative context. It is a moment in which the Iraqi national will meets the general Arab hope to overcome differences and move towards building an effective and comprehensive Arab cooperation system."

He added: "Iraq believes that strengthening Arab action begins with strengthening relations between Arab capitals, from the Gulf to the Ocean, on the basis of mutual respect and non-interference in internal affairs. Today, we need a responsible Arab discourse based on political realism and believing that solidarity does not mean identicality, but rather respect for specificities within a unity of purpose and destiny."

The Prime Minister pointed out: "The challenges facing the region, from the repeated Israeli aggression on Gaza, the West Bank, Lebanon and Syria, to the internal divisions and regional and international interventions, threaten not only the security of peoples, but also our collective will as a nation."

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

He explained: "The time has come to launch a unified Arab initiative that goes beyond the humanitarian dimension and supports the building of a nation-state based on the constitution, dignity, and diversity." He pointed out: "The absence of effective international engagement requires Arab countries to have a comprehensive development strategy."

He emphasized: "Arab national security is indivisible and cannot be achieved without effective cooperation, balanced policies, and strong institutions that protect the supreme interests of the nation."

He continued: "We are not only rebuilding Iraq, but we are participating in reshaping the Middle East through a balanced foreign policy, conscious leadership, development initiatives, and strategic partnerships."

Economically, the Prime Minister called for adopting an integrated economic approach that addresses development disparities and enhances collective capacity to confront food, energy, and supply chain crises. He pointed out that the Development Road project, which is nearing completion, is a practical model for this approach and can be a pillar for genuine Arab partnerships.

Al-Sudani concluded by saying: “Baghdad, the capital of Arab thought and shared history, opens its arms to the Arab Summit, confident that what unites us is greater than what divides us, and that we have a valuable opportunity to shape a more cohesive and dignified future for our peoples.” /End https://ninanews.com/Website/News/Details?Key=1225481

Signing Two Agreements With France To Finance Projects Worth 130 Million Euros.

May 8, 2025  Baghdad - Qusay Munther  The Ministry of Finance signed two agreements with the French Development Agency to finance vital projects in the sanitation sector, totaling 130 million euros. These agreements aim to improve the environment and basic services in Anbar and Diwaniyah governorates, as part of a comprehensive government plan based on the budget law.

Signing Two Agreements

A statement received by Al-Zaman yesterday said that “the Minister signed two agreements with the French Agency, the first of which relates to signing a supplementary loan for the Al-Khalidiya District Sewerage Project in Anbar Governorate, worth 30 million euros, bringing the total financing for the project to 110 million euros. The second agreement was allocated to finance the Al-Hamza District Sewerage Project in Diwaniyah Governorate, with a loan amounting to 100 million euros.”

Sami stressed that "the government seeks, through this step, to transfer the technology and expertise used in France in the field of wastewater treatment to Iraq, which will contribute to improving the service reality and enhancing the health environment in the beneficiary cities."

 She added that "these agreements are part of a financing package provided by the French government aimed at supporting infrastructure projects in various governorates, and come in implementation of what is stipulated in the Federal General Budget Law for the years 2023, 2024 and 2025, and in line with the directions of the ministerial program, which emphasized directing borrowing towards feasible investment projects."

Meanwhile, Minister of Construction, Housing and Public Municipalities, Benkin Rekani, launched the implementation of the Rose City project in Baghdad. During the launch ceremony yesterday, Rekani said, “Iraq has not witnessed the implementation of major projects for more than 45 years due to the wars and events that the country has experienced, which led to the deprivation of strategic projects and the deterioration of the level of services as a result of the continuous pressure on the infrastructure.”

 He pointed out that “the current government has sought, in various ways, to move towards service and development projects.”

New Cities

“With this project, we will move from creating neighborhoods and residential complexes to building new cities planned according to civilized standards that meet the requirements of modern life by adopting environmental plans, energy sustainability, and modern insulation systems, to provide integrated services for an integrated city,” Rikani explained.

He continued, “The project will include, in addition to residential units, services, and job opportunities, recreational areas and large green spaces.” He went on to say, “This is the first experience of its kind in Iraq in decades, and is considered the largest development project in the country.”

He pointed out that “the project extends over an area of ​​24 thousand dunums, and includes about 100 thousand housing units of various types and levels, including hospitals, universities, commercial markets and entertainment areas,” indicating that “the city of roses will be built in three phases, and is close to the Army Canal Expressway, about 17 kilometers away.”

He went on to say that “the ministry is implementing an expressway linking the Canal area to the city, and a group of adjacent plots of land have been distributed among members of the Ministry of Defense, with plans for additional future expansions.”   LINK

 

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-8-25

Good Evening Dinar Recaps,

MISSOURI BILL ENDING CAPITAL GAINS TAX HEADS TO GOVERNOR FOR SIGNATURE

Missouri will become the first US state to eliminate the levy if Governor Mike Kehoe signs the bill into law.

Missouri House Bill 594, a bill that would eliminate capital gains tax in the state, has passed a vote in the House of Representatives and now heads to the governor’s desk.

According to attorney Aaron Brogan, the bill stipulates a 100% income tax deduction for any capital gains income because Missouri’s tax code does not explicitly distinguish between capital gains and income tax.

Brogan compared the bill’s structure to the federal SALT deduction, but called it “the inverse, which I have never seen before.”

The bill’s timing is notable as it follows proposals from President Donald Trump to overhaul the federal income tax system through comprehensive reform.

Trump proposes eliminating federal income tax in the United States

Trump has proposed offsetting or eliminating federal income tax, replacing it with revenue from import tariffs.

“When Tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated… The focus will be on people making less than $200,000 a year,” Trump wrote on April 27 via Truth Social.

He added this would incentivize factory jobs to return to the US by avoiding import duties on finished products.

However, market reaction has been overwhelmingly negative:

• Stock markets lost trillions following tariff announcements.

• Crypto markets shed hundreds of billions in value.

• Bond yields spiked, signaling investor flight from US debt.

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

COINBASE ACQUIRES CRYPTO DERIVATIVES EXCHANGE DERIBIT FOR $2.9 BILLION

Today Coinbase confirmed it has agreed to acquire Deribit, the largest crypto options exchange, for $2.9 billion, including $700 million in cash with the balance in stock.

Deribit may not be the number one overall in crypto derivatives, but it is the world leader in crypto options. It currently has more than $30 billion in open interest. Coinbase already has a derivatives subsidiary, which is particularly active in perpetual futures, so Deribit complements this well. The acquirer claims the combination will make it the derivatives market leader.

“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” said Deribit CEO Luuk Strijers. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand.”

Beyond market position, Coinbase highlighted financial benefits, noting that Deribit will help to even out its earnings by diversifying revenue streams because options earnings are less cyclical compared to spot.

Deribit was founded in the Netherlands but operated out of Panama for several years, before moving recently to Dubai. A key driver was to provide regulatory certainty to its institutional clients, which make up 80–90% of its client base.

The transaction is expected to close by the end of the year, subject to regulatory approvals.

@ Newshounds News™
Source:  Ledger Insights

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 5-8-2025

KTFA:

Clare:  Al-Sudani arrives in Ankara and considers the "Development Road" project an economic approach to confronting crises.

5/8/2025

Prime Minister Mohammed Shia al-Sudani arrived in the Turkish capital, Ankara, on Thursday morning for an official visit, according to a brief statement issued by his media office.

Before heading to Ankara, Al-Sudani wrote a newspaper article in which he described the "Development Road Project," which Iraq has begun constructing to transport goods from the Gulf via Turkey to Europe, as a move toward an economic approach to addressing crises.

In his article, the Prime Minister said, "Iraq calls for adopting an integrated economic approach that addresses development disparities and enhances collective capacity to confront food, energy, and supply chain crises."

He added, "The Development Road project, which is nearing completion, is a practical model for this approach and can serve as a foundation for genuine Arab partnerships."

Al-Sudani continued, "Today, we are not only rebuilding Iraq, but we are also participating in reshaping the Middle East through a balanced foreign policy, informed leadership, development initiatives, and strategic partnerships."

Al-Sudani's visit to Ankara came to participate in the meetings of the Iraqi-Turkish Supreme Council for Strategic Cooperation.

Fahrettin Altun, the head of the Turkish Presidency's Communications Department, confirmed in a post on Twitter on Wednesday that Al-Sudani will make an official visit to Turkey accompanied by a high-level delegation and will meet with President Erdogan at the presidential complex in the capital, Ankara.

The Turkish official added that Turkish-Iraqi relations and current regional and international developments will be discussed, in addition to holding a high-level Strategic Cooperation Council meeting between the two countries.

Alton stated that documents aimed at strengthening cooperation in various fields between the two countries are expected to be signed during Al-Sudani's visit, predicting that Al-Sudani's visit will strengthen the already strong Turkish-Iraqi relations in many areas.

On Tuesday, Mukhtar al-Moussawi, a member of the Iraqi parliament's Foreign Relations Committee, revealed to Shafaq News Agency that al-Sudani will visit Türkiye this week and will discuss security, economic, and water issues in Ankara.

The Iraqi embassy in Ankara announced last Monday the arrival of an official Iraqi delegation in preparation for the signing of bilateral memoranda of understanding.

Iraqi Ambassador to Ankara, Majid al-Lajmawi, stated that Iraqi Prime Minister Mohammed Shia al-Sudani's upcoming visit to Turkey will include discussions on several issues, including development, energy, and trade.

Turkish Transport Minister Abdulkadir Uraloğlu previously announced that Iraqi Prime Minister Mohammed Shia al-Sudani will visit Türkiye in the coming days, while Turkish President Recep Tayyip Erdoğan will visit Iraq during the first half of this year.   LINK

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

Clare: The Prime Minister warns of the challenges facing the region and calls for a unified Arab initiative.

5/8/2025

Prime Minister Mohammed Shia al-Sudani affirmed on Thursday that Baghdad is hosting the Arab Summit at an exceptional moment for the region, calling for responsible Arab discourse and economic integration to confront challenges.

In his speech at the opening of the Arab Summit in Baghdad, Al-Sudani said, "The Arab Summit in Baghdad comes in a transformative context. It is a moment when the Iraqi national will converges with the general Arab hope to overcome differences and move towards building an effective and comprehensive Arab cooperation system."

He added, "Today we need a responsible Arab discourse based on political realism and a belief that solidarity does not mean conformity, but rather respect for particularities within a common goal and destiny."

Al-Sudani pointed out that "Iraq believes that strengthening Arab action begins with strengthening relations between Arab capitals from the Gulf to the Atlantic, based on mutual respect and non-interference in internal affairs."

He warned that "the challenges we face—from repeated Israeli aggression on Gaza, the West Bank, Lebanon, and Syria, to internal divisions in some Arab countries, to regional and international interventions—threaten not only the security of these peoples but also our collective will as a nation. "

He called for "the launch of a unified Arab initiative that goes beyond the humanitarian dimension to support the building of a national state based on the constitution, dignity, and diversity," stressing the importance of "having a comprehensive Arab development strategy."

Al-Sudani called for "the adoption of an integrated economic approach that addresses development disparities and enhances collective capacity to confront food, energy, and supply chain crises," noting that "the Development Road project, which is nearing completion, is a practical model for this approach and can serve as a pillar for genuine Arab partnerships."

He emphasized that "Arab national security is indivisible and cannot be achieved without effective cooperation, balanced policies, and strong institutions that protect the supreme interests of the nation."

Al-Sudani concluded his speech by saying: "From Baghdad, we address an appeal to all Arab capitals: It is time to start anew, on new ground, with a new methodology, and a new will."  LINK

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Clare: Al-Sudani: Baghdad is hosting the Arab Summit at an exceptional moment for the region.

LINK

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Clare:  The Central Bank's trilogy curbs the parallel market. The dollar drops to a historic low for the first time since 2022.

5/8/2025 - Baghdad

The Iraqi dinar has seen a significant improvement in its value against the US dollar in Iraqi markets over the past few weeks, with the hard currency declining for the first time since 2022, reaching 141,000 per $100.

Before Ramadan, the dollar exchange rate hovered around 150,000 dinars per $100. During Ramadan, the dollar exchange rate remained relatively stable at around 147,000 to 149,000 dinars per $100. However, with the beginning of April, coinciding with Trump's announcement of a tariff war, the dollar exchange rate in Iraq declined rapidly, reaching 142,000 dinars per $100 today.

This improvement was driven by a package of monetary and regulatory policies that succeeded in reducing demand for foreign currency through informal channels.

In this context, the Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, identified three main factors that contributed to curbing the parallel market and strengthening the dinar.

In an interview with Al-Eqtisad News, Saleh said that the Central Bank of Iraq has succeeded in meeting the dollar needs of major traders by strengthening national banks' reserves with their foreign correspondents, which are highly rated (AAA) banks, and by beginning to use alternative currencies such as the Emirati dirham, the euro, and the Chinese yuan in banking operations, especially with Iraq's main trading partners such as Turkey, the UAE, and China. This approach has contributed to accelerating remittances and reducing reliance on the parallel market.

Small businesses accounted for approximately 60% of private sector trade in Iraq. Supported by new government measures, this category of traders was facilitated to access dollars directly through Iraqi banks, eliminating the need for expensive intermediaries. This contributed to absorbing a significant portion of the parallel demand for dollars.

Saleh noted that travelers are now able to obtain dollars at the official exchange rate (1,320 dinars per dollar) using electronic payment cards, in addition to the ability to obtain $3,000 in cash per month through official airport outlets, significantly reducing their reliance on the black market.

Saleh emphasized that several supporting factors also contributed to reducing pressure on the dollar in the parallel market, including stricter legal procedures for dealing in dollars outside the banking system. This prompted individuals to avoid the legal risks associated with the black market and turn to gold as a savings instrument, due to global dollar fluctuations and concerns about the future of paper currency.

Al-Sudani's advisor pointed to the increasing demand for government bonds with attractive semi-annual returns, which have become a reliable tool for preserving value, away from speculation in the foreign exchange market. He also emphasized the success of hypermarkets in stabilizing the prices of basic commodities, which has weakened the impact of the parallel market on citizens' livelihoods and contributed to overall economic stability.

Concluding his remarks, the Prime Minister's advisor noted that demand for gold has reached a historic peak, driven by growing concerns among Iraqis about the possibility of the US Federal Reserve canceling or reducing some paper dollar denominations in the future. This has prompted citizens to diversify their savings away from the US currency.

In addition, economic expert Manar Al-Abidi identified a number of other reasons that led to the decline in the dollar's price locally.

Al-Obaidi told Al-Eqtisad News that the primary reason for the dollar's decline is a decline in demand on the parallel market, coupled with a significant increase in the supply of hard currency, both from domestic and foreign sources. He explained that this new balance has helped narrow the gap that has long separated the official exchange rate from the parallel market rate.

Among the notable changes, Al-Obaidi points to the declining confidence of many local investors in the dollar as a savings instrument, due to expectations of a decline in its value against gold. This trend has prompted a large segment of citizens to exchange dollars and purchase gold, increasing the dollar money supply in the local market.

In contrast, other sources have contributed to the increase in dollar supply, most notably remittances and foreign investments, particularly those related to international companies operating in Iraq. According to Al-Obaidi, these inflows are no longer solely linked to oil revenues, but rather come from additional channels that have helped ease pressure on foreign currency.

In a remarkable monetary measure, the Central Bank of Iraq (CBI) reduced the dinar money supply by more than 6 trillion dinars over the past six months, declining from 104 trillion to approximately 98 trillion dinars. This contraction helped raise the relative value of the dinar against the dollar, placing additional pressure on the parallel market.

Regarding trade, despite a 6% increase in imports from China, Iraq's imports from major countries such as India, Turkey, and the United States saw a significant decline. Upcoming figures are also expected to reveal a decline in imports from the UAE, which accounts for 30% of Iraq's total imports. This reflects a decline in overall demand for the dollar due to the contraction in trade activity.

Al-Abidi also points to the expansion of channels for accessing dollars at the official exchange rate, through bank cards, official money transfers, and direct transfers, which has prompted many merchants and individuals to move away from the black market.

In addition, regional conditions played a significant role in easing pressure on the dollar. The deteriorating economic situation in Iran led to a decline in demand for goods imported from Iraq, which were re-exported there. The cessation of trade with Syria also contributed to the decline in import demand.

Al-Obaidi also points to a decline in the trade in smuggled oil and prohibited goods, which used to rely heavily on dollar-denominated transactions on the parallel market. These activities have recently been curtailed through strict security and banking measures.

Al-Abidi believes that the continuation of these trends could push the dollar to levels close to 1,395 dinars in the coming period, barring any sudden developments in monetary policy or regional balances. LINK

Iraq Economic News And Points To Ponder Thursday Morning 5-8-25

The Dinar Is Recovering. The Dollar's Value In Iraq Has Fallen Due To Local Measures.
 
Information/Report...Over the past few days,  Iraqi markets have witnessed a significant decline in the dollar exchange rate against the dinar,  following months of fluctuations and price increases that sparked public concerns and market turmoil.
 
Exchange offices and the local stock exchange in most Iraqi governorates recorded a decline in the dollar exchange rate against the Iraqi dinar on Tuesday, part of a slight and gradual decline that has been ongoing for days.

In the final hours of the closing hours, the exchange rate for $100 reached 143,000 dinars, a difference of 11,000 dinars from the official exchange rate adopted by the Central Bank of Iraq, which is 1,320 dinars to the dollar.
 
The sudden decline has raised questions about its true causes and whether it represents the beginning of monetary stability or merely a temporary decline.
 
Experts believe the reasons are primarily local,  not the result of regional or global developments.
 
In this context, economic expert Abdul Rahman Al-Mashhadani told Al-Maalouma,
 
"Geopolitical conditions, such as tensions between India and Pakistan, typically increase demand for the dollar,
 
but what happened in Iraq clearly indicates that  internal factors are the primary driver of the price decline."  

Al-Mashhadani explained that one of the most prominent of these factors was the
Central Bank's previous decision to regulate the sale and purchase of real estate,
 
which reduced the use of the dollar in real estate transactions, thus easing pressure on foreign currency.

 He also pointed out that   the expansion of banks authorized to process foreign transfers and
the adoption of a balance-enhancing mechanism led to  significant dollar sales exceeding $300 million per day in previous periods.
 
However, much of this money was not used to import goods, but rather remained in external accounts, known as "return," which does not reflect real demand within the market.  

Al-Mashhadani pointed out that  the new Central Bank administration has adopted a more open policy to
 
     regulate the market and
     tightened controls on transfers and currency smuggling, which has contributed to
     strengthening confidence and
     raising the level of foreign exchange reserves.
 
Despite this improvement, observers caution against considering the dollar's decline as an indicator of permanent stability,  especially given the ongoing political and economic challenges and the market's reliance on imports.
 
Any decline in oil revenues or foreign currency inflows is a source of concern.
 
Experts emphasize that sustaining the dollar's decline requires
 
     continuing economic and monetary reforms,
     strengthening the role of the banking sector,
     regulating the parallel market, and
     supporting local production to reduce reliance on the dollar. End / 25s      
https://almaalomah.me/news/98057/economy/الدينار-يستعيد-عافيته-تراجع-سعر-الدولار-في-العراق-بفعل-إجراء   

 
The Dollar Continues To Fall In Iraq. Is The Market Approaching The Official Rate?

Today's Economy , 15:20 | 2691  Baghdad Today – Baghdad  Financial and economic expert Alaa Al-Fahd predicted on Wednesday (May 7, 2025) that  the dollar exchange rate will continue to decline in the Iraqi market over the coming period, noting that
 
the gap between the official price and the parallel market price is close to disappearing. Al-Fahd told Baghdad Today,
 
"The Central Bank of Iraq has taken a series of measures in cooperation with banks,  most notably direct financing of commercial transactions,

which has contributed to narrowing the gap between the official rate and the parallel market rate."

 He added, "The Central Bank's continued coverage of foreign trade and regular dollar sales to banks 
will push the parallel market exchange rate further downward, and we may soon see it reach the official rate."

The local market has witnessed fluctuations in the dollar exchange rate against the dinar over the past few months,
 
with the parallel market rate rising significantly compared to the official rate approved by the Central Bank of Iraq, which is 1,320 dinars per dollar.
 
The reasons for this discrepancy are
 
     restrictions on foreign transfers,
     declining confidence in some banking channels, and
     external influences related to sanctions policies and controls on dollar movement.
 
With the Central Bank's recent measures, expectations indicate a
 
     gradual return to stability and a
     narrowing of the gap between the two rates.     https://baghdadtoday.news/273715-.htm

Chestertons Global Enters Iraq With Baghdad Office
 
Business    Iraq    IraqiNews    May 2, 2025  1364     Baghdad (IraqiNews.com) – In line with its strategic expansion across the Middle East, UK’s Chestertons Global has announced the opening of a new office in Baghdad, Iraq.
 
This marks a significant milestone as the international property brokerage continues to strengthen its presence in the Middle East.
 
The Baghdad office will offer a full suite of property services, including
 
     residential and commercial sales and rentals,
     investment advisory,
     valuations, and
     market research.
 
Chestertons Global’s entry into Iraq is a timely move, as
 
the country’s real estate sector continues its rapid development.
Valued at $1.12 billion in 2024,
Iraq’s property market
     ranks among the largest in the Arab world and
     is expected to grow at an annual rate of 6%.

With over 100 offices across 21 countries, the addition of Iraq strengthens Chestertons Global’s international network
and significantly enhances its capacity to serve clients in one of the region’s most promising markets. https://www.iraqinews.com/iraq/chestertons-global-enters-iraq-with-baghdad-office/  

Iraq Increases Condensate Output
 
 Iraq   Amr Salem   May 7, 2025   158      An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra. Photo: AFP
 
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, said in a statement on Wednesday that
 
natural gas output and flared gas utilization projects have increased in Iraq.
 
A statement released by the Iraqi Oil Ministry mentioned that the country’s efforts to lessen gas flaring and satisfy local demand have resulted in the availability of substantial amounts of condensates, reaching about 160,000 barrels per day, according to Reuters.
 
Condensate, a light oil, is mostly used as a mixture for heavy crude or processed in separators to produce naphtha, a petrochemical product.
 
To improve its characteristics, the majority of the condensates generated are mixed with crude oil.
 
Iraq’s attempts to maximize its energy resources and lessen its environmental effect through improved utilization of flared gas have taken a significant stride with the growth in condensate output.
 
As part of the government’s plan to quickly become self-sufficient in gas and energy, Iraq plans to increase the utilization of flared gas wasted in oil operations to 70 percent by the end of 2025.
 
Abdul-Ghani told the state-run news agency (INA) last month that promising projects are underway to
maximize the production and utilization of flared gas in oil fields throughout the country.
 
According to the oil minister, flared gas utilization in Iraq is predicted to rise from its present level of around 67 percent to 70 percent by the end of 2025.
 
As part of the government agenda,  gas flaring is scheduled to completely stop in Iraq by 2028, with efforts being made to turn this wasted energy into useful energy.     https://www.iraqinews.com/iraq/iraq-increases-condensate-output/   

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 5-8-25

Good Morning Dinar Recaps,

PAYMENTS GIANT VISA INVESTS IN STABLECOIN INFRASTRUCTURE FIRM BVNK IN US MARKET EXPANSION

Credit card giant Visa is investing in the stablecoin payments network BVNK as a way to upgrade its business-to-business (B2B) transaction infrastructure.

In a new company blog post, BVNK CEO and co-founder Jesse Hemson-Struthers revealed that Visa is making an undisclosed investment into the firm to help automate and streamline global stablecoin payments between businesses.

“At BVNK, we recognized early that stablecoins would emerge as an instant global payment rail and a viable alternative to the traditional correspondent banking system.

That’s why we’ve built our infrastructure from the ground up to automate and orchestrate stablecoin payments at scale, making these new rails accessible to businesses of all sizes.”

According to Hemson-Struthers, partnering with Visa, which he calls the:

“original payments innovator,”

will fundamentally change how businesses operate digitally and assist the UK-based BVNK in its expansion into the US.

“What makes me proudest is seeing the real-world impact of our technology.

We’re currently processing $12 billion in annualized stablecoin payment volumes, enabling our customers to move money globally with unprecedented speed and efficiency. The momentum continues with our expansion into the US market this year.”

Rubail Birwadker, head of growth products and partnerships at Visa, added:

“Stablecoins are fast becoming a part of global payment flows, and Visa invests in new technologies and builders like BVNK, staying at the forefront of what’s next in commerce to better serve our clients and partners.”

In December, BVNK closed a $50 million Series B fundraising round, with participation from major venture capital firms including Coinbase Ventures.

@ Newshounds News™

Source:  DailyHodl

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BRICS: ONLY 33% OF TRADE SETTLED IN US DOLLARS

Russia’s Foreign Minister Sergey Lavrov confirmed that BRICS members have settled 67% of trade in local currencies, with only 33% of deals paid in US dollars. The significant gap highlights the seriousness of the de-dollarization agenda, suggesting that the motive to topple the greenback is gaining traction.

"National currencies already account for more than 65% within the framework of trade among BRICS members," said Lavrov.
"The dollar’s share declined to one-third against such a background," he told Tass.

BRICS members have executed roughly 67% of cross-border trade for goods and commerce in local currencies, while US dollar payments make up just 33%. De-dollarization is becoming a serious global concern, and critics warn that ignoring this trend could harm the US economy in the long run.

Developing countries are now more economically empowered than in previous decades, boasting:

• Robust and growing GDPs

• Expanding manufacturing bases

• Leverage over Brent Crude oil

• Greater influence in global markets

Additionally, many of their local currencies are outperforming the US dollar, compounding pressure on the greenback.

The BRICS alliance is gaining power and may seriously challenge the US dollar by the end of the next decade.

BRICS: US Dollar Usage in Trade Transactions Only 33%

If more countries adopt the de-dollarization movement led by BRICS, the US dollar—and broader economy—could face severe challenges. BRICS expansion is particularly concerning, as newer member countries bring additional strength to local currency systems.

The next 15 years may be pivotal: either the dollar reasserts its dominance, or it risks being overtaken by a rising wave of emerging economies.

@ Newshounds News™

Source:  Watcher Guru

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“Tidbits From TNT” Thursday Morning 5-8-2025

TNT:

Tishwash:  Oil Doesn't Feed the Poor: Where Does Iraq's Wealth Go?!

 In a country with one of the world's largest oil reserves, scenes of destitution and poverty are still strongly present in the streets and working-class neighborhoods. Iraq, with its vast wealth, is powerless to address the dilemma of poverty, which now affects the lives of millions of citizens.

Official statistics indicate that more than a quarter of the population lives below the poverty line. As economic and political crises worsen, the roots of this phenomenon deepen, transforming from a social problem into a real threat to societal stability.

According to a 2024 report by the Iraqi Ministry of Planning, the poverty rate reached approximately 25% nationwide, with higher rates recorded in the southern governorates and conflict-affected areas. In Muthanna Governorate, for example, the rate exceeded 50%, reflecting the magnitude of the economic gap between Iraq's various regions.

The spread of poverty is attributed to several factors, most notably: high unemployment among young people, a lack of development projects, deteriorating infrastructure, and financial and administrative corruption that has depleted public budgets without affecting the lives of ordinary citizens. The absence of a clear strategy for wealth distribution has deprived large segments of their basic rights to education, healthcare, and adequate housing.

Babylon of Civilization… At the forefront of poverty

in Babylon Governorate, the cradle of civilization and home to the world’s first law stele, Minister of Labor and Social Affairs Ahmed Al-Asadi announced during a joint press conference with Babylon Governor Adnan Fayhan that the governorate has the second-highest poverty rate in Iraq.

This statement sparked a wave of anger against the government and Prime Minister Mohammed Shia al-Sudani’s development plans, especially with Babylon’s inclusion on the World Heritage List, raising questions about development priorities and wealth management.

The Voice of the Poor… A Cry in the Face of Silence

“Umm Ali,” a widow living in a slum in Baghdad, told Video News Agency:
“We live on whatever God provides. My children left school to help me collect empty cans from the street. No one asks about us, and the government doesn’t see us.”

Despite government initiatives such as the social safety net and food basket distribution, experts believe these solutions are temporary and insufficient unless accompanied by real economic reforms that create job opportunities and boost local production.

Umm Hussein, a widow and mother of four, described her suffering to the Video News Agency, saying:
“After my husband’s death, I have no one left to support me. I rely on the social welfare salary, but it is sometimes delayed and sometimes not fully disbursed. I am forced to work cleaning houses to cover school expenses and food.”

Poverty is not just numbers… but a daily pain

Poverty in Iraq is not just numbers in official reports; it is a daily story experienced by millions in silence and pain. As the challenges mount, there remains an urgent need for a serious stance from the state and society to rescue those drowning in the quagmire of poverty and pave the way for a more just and equitable future.  link

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Tishwash:  As Trump's visit to the region approaches, Iraq is expected to play a role in the Arab Summit in Baghdad.

Political analyst Talib Mohammed Karim asserted that the upcoming Arab Summit in Baghdad, coinciding with an anticipated visit to the region by former US President Donald Trump, could reshape political roles and give Iraq a prominent position on the regional scene.

During his appearance on the "Free Talk" program on Al Furat satellite channel, Karim said, "This is not the first summit that Baghdad has hosted since 2003; but it comes at a sensitive time when regional changes are accelerating, which may push Iraq to the forefront of the summit's political discussions."

He pointed out that "the importance of the summit lies in its moral dimension for Iraq, as it is one of the founding states of the Arab League and seeks to consolidate its position as a regional and international political player."

Karim stressed that "Iraq will be the 'crown' of the Arab Summit, and no party has the right to diminish its role, whether from a protocol or political perspective," noting that "the European Union's members met on the basis of shared interests, while the Arab League's members were divided due to conflicting political interests."

He expressed his concerns about the impact of the summit's final statement on the level of representation, saying, "If the statement includes any reference to the Zionist entity, it is likely that leaders of countries such as Morocco, Algeria, and the Sultanate of Oman will abstain from attending, as happened at the 2012 Baghdad summit, which was attended only by the Emir of Kuwait."

Karim added that "the repeated  aggression against Syrian territory must be among the summit's topics, given its repercussions for regional security," considering that "Iran's role as a regional power cannot be ignored, and the Trump administration's renewed recognition of the Iranian nuclear issue constitutes an acknowledgment of its strength, which Iraq can leverage within the region's balance of power."

The political analyst concluded his remarks by asserting that "the summit represents an important opportunity for Iraq to strengthen its diplomatic standing, not only in the Arab context but also within the broader international interactions that will be affected by its outcomes." link

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Tishwash:  Parliament is suspended until further notice. Election campaigns and internal crises postpone sessions until after Eid.

MP for the Coordination Framework, Mukhtar al-Moussawi, expects the suspension of parliament sessions to continue during the current month, until Eid al-Adha.

Al-Moussawi said in a statement followed by (Al-Mada), "There is a clear disruption to parliament's work, and it is likely that parliament sessions will not be held in the coming days, especially since it will enter a legislative recess starting next week."

He added, "There is talk about resuming parliament sessions after the Eid al-Adha holiday, in addition to other reasons that were an obstacle to the continuation of parliament sessions, represented by election campaigns that began early."

He explained that "there are many problems within parliament that prevent the parliament from holding sessions or achieving the required quorum, and therefore the parliament will remain suspended throughout the current month and beyond, until after the Eid al-Adha holiday."  link

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Tishwash:  Kurdistan Delegation Meets Iraqi Oil Ministry and Epicur Over Oil Export Resumption

A high-level delegation from the Kurdistan Region’s Ministry of Natural Resources arrived in Baghdad today to meet with officials from the Iraqi Oil Ministry and international oil companies, including Epicur, to discuss the resumption of oil exports from the Kurdistan Region.

The meeting comes amid ongoing efforts to resolve the prolonged suspension of oil exports, which has cost Iraq an estimated 300,000 barrels of oil per day. Oil Minister Hayan Abdul Ghani recently stated that Iraq continues to suffer significant financial losses due to the halt and expressed surprise over what he described as new conditions set by the Kurdistan Region for the resumption of exports.

Today's meeting is expected to focus on overcoming the legal and technical challenges hindering the export process and finding a mutual agreement that would allow oil from the Kurdistan Region to flow back into international markets.

Negotiations between Baghdad and Erbil have stalled several times over the past year due to disputes over oil revenue sharing and control of export infrastructure. link

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Mot:  Balance - All bout Balance