MM & Crew: Iraq Dinar Update-World Trade Organization-Global Economy- Kurds Oil & Gas Law-Budget tables 2025

MM & Crew:  Iraq Dinar Update-World Trade Organization-Global Economy- Kurds Oil & Gas Law-Budget tables 2025

6-4-2025

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=cdmvelN4Tr0

Iraq Economic News And Points To Ponder Wednesday Evening 6-4-25

Economist: The Decline In The Dollar Exchange Rate Reflects The Strength Of The Iraqi Dinar

Time: 2025/06/04 Reading: 1,920 times  {Economic: Al Furat News} Economic expert, Duraid Al-Anzi, confirmed that the recent decline in the dollar exchange rate is an indicator of the strength of the Iraqi dinar and means that prices may fall, but this decline is modest and fluctuates between rising and falling.

Al-Anzi told Al Furat News Agency, "The government, in general, does not impose its control over prices, as they vary from one region to another without government intervention."

He added, "The recent decline in the dollar was not due to practical economic reasons or any action by the government or the Central Bank to lower the dollar price, but rather due to market exchange."LINK

A Slight Decline In The Dollar Price In Local Markets With The Closing Of The Stock Exchange.

Wednesday, June 4, 2025 | Economic Number of readings: 24  Baghdad / NINA / The dollar prices decreased slightly in the markets of Baghdad and Erbil, this evening, with the closing of the stock exchange.

The dollar prices recorded 141,250 dinars for $100 at the close of the Al-Kifah and Al-Harithiya stock exchanges, while this morning it recorded 141,300 dinars for $100.

While the selling prices in exchange shops in the local markets in Baghdad stabilized at 142,250 dinars for $100, and the purchase price was 140,250 dinars for $100.

In Erbil, the dollar also decreased, as the selling price reached 141,200 dinars for every $100, and the purchase price was 141,000 dinars for $100. https://ninanews.com/Website/News/Details?key=1231813

After The Dollar... Gold Prices Fall In Baghdad

Economy | 04/06/2025  Mawazine News – Baghdad  Foreign and Iraqi gold prices have decreased in local markets in Baghdad.

Gold prices in the wholesale markets on Al-Nahr Street in Baghdad this morning recorded a selling price of one mithqal of 21 karat Gulf, Turkish and European gold at 666,000 dinars, and a purchase price of 662 dinars. Yesterday, Tuesday, prices were recorded at 669,000 dinars.

The selling price of one mithqal of 21 karat Iraqi gold was recorded at 636,000 dinars, and a purchase price of 632,000.

As for gold prices in jewelers' shops, the selling price of one mithqal of 21 karat Gulf gold ranges between 670,000 and 680,000 dinars, and the selling price of one mithqal of Iraqi gold is between 640,000 and 650,000 dinars.   https://www.mawazin.net/Details.aspx?jimare=262152

Despite The Global Decline In Oil Prices, Basra Crude Prices Rose.

economy | 04/06/2025   Muzine News - Follow-up  Basra Heavy and Medium crude oil prices rose on Wednesday, despite the decline in global oil prices.

Basra Heavy crude rose by 99 cents, or 1.64%, to reach $61.41 per barrel, while Basra Medium crude also rose by 99 cents, or 1.56%, to reach $64.36 per barrel.

This rise comes despite the decline in global oil prices, as Brent crude futures fell to $65.40 per barrel, and US West Texas Intermediate crude fell to $63.16 per barrel.

The global decline is attributed to concerns about increased production by the OPEC+ alliance, in addition to tensions related to tariffs that threaten the global economic outlook, while concerns about Canadian supplies provided support for prices. https://www.mawazin.net/Details.aspx?jimare=262144

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

Greg Weldon: We have Crossed the Debt Macro Event Horizon

Greg Weldon: We have Crossed the Debt Macro Event Horizon

Palisades Gold Radio:  6-4-2025

Tom welcomes back Greg Weldon, a seasoned financial market veteran and publisher of 'The Global Macro Strategy Report' .

They discuss the critical themes shaping the global economy in 2025. Highlighting Scott Bessent's remarks, Weldon explains that the U.S. government will never default on its debt, and instead will perpetually devalue the currency to service its obligations.

He warns that the country has however crossed a "macro event horizon," where it is trapped in a gravitational pull of debt that grows unsustainably relative to GDP.

Weldon points to $54 trillion in combined public and household debt—186% of GDP—as evidence of this precarious situation.

With foreign buyers losing appetite for U.S. assets, the Fed may become the last resort buyer of Treasuries, perpetuating the cycle of money printing. He notes that foreign ownership of U.S. bonds remains low, leaving domestic institutions to absorb much of the burden.

The conversation delves into inflation and its drivers. Weldon argues that while energy prices remain subdued due to base effects, food inflation and service sector pressures pose significant risks.

He also questions whether higher inflation expectations can be anchored, given the Fed's challenges in balancing monetary policy with economic growth.

Weldon predicts that the Fed will increasingly prioritize preventing debt deflation over controlling inflation, leading to further dollar depreciation.

Weldon expresses skepticism about a gold-backed dollar or bond solution, noting that U.S. gold reserves are insufficient to cover deficits meaningfully. Instead, he highlights gold and silver as potential beneficiaries of currency debasement, with silver poised for a breakout after years of underperformance.

He also touches on global trends, such as Europe's rise as a safer haven and the BRICS nations' growing interest in dollar system alternatives.

Ultimately, Weldon paints a picture of a world teetering on debt-driven instability, where central banks are forced to choose between reflating economies or facing collapse.

Time Stamp References:

0:00 – Introduction

 0:45 - Bessent & Default Risk

4:55 - Moody's Downgrade

7:12 - U.S. Debt Refinancing

9:40 - Foreign Debt Buyers?

12:20 - Japan's Bond Issues

 15:03 - Solutions & Gold Std?

16:55 - Equities & Silver

20:30 - The Fed Catch 22

24:25 - Fwd Inflation Drivers?

27:54 - Debt Saturation & Ceilings

 34:50 - Polarization & Extremes

38:50 - Wrap Up

https://www.youtube.com/watch?v=eCB3lodiEqM

Iraq Economic News And Points To Ponder Wednesday Afternoon 6-4-25

Central Bank Of Iraq: No Shortage Of Liquidity, And Foreign Exchange And Gold Reserves Are On The Rise.
 
June 2, 2025  Baghdad/Iraq Observer  The Central Bank confirmed on Monday that  liquidity is fully available, while noting that  reserves have exceeded $100 billion.
 
“Liquidity is fully available, whether in Iraqi dinars or US dollars, and   there is no shortage in this regard,” said Mohammed Younis, the bank’s general manager of investments, in a press statement monitored by the Iraq Observer.

He pointed out that “the Central Bank’s reserves have exceeded $100 billion, in addition to Iraq’s large gold reserves, exceeding 163 tons.” Younis added,
 
"The Central Bank   
     is not an investment entity, but rather
     is responsible for managing Iraq's foreign exchange reserves," explaining that
 
"the goal of these reserves is not to generate profits,
but rather to ensure reasonable returns." He continued,
 
"The reserve 
     is managed according to well-thought-out policies based on high security standards, and 
     is invested in safe financial instruments that generate acceptable returns." He emphasized that
 
"Iraq is on a sound economic path."     https://observeriraq.net/المركزي-العراقي-لا-شحّة-في-السيولة-واح/  

Al-Ghariri: Iraq Is Getting Closer To Membership In The World Trade Organization.
 
Tuesday, June 3, 2025 | Economic     Number of readings: 7  Baghdad/ NINA / Minister of Trade, Atheer Al-Ghariri, announced that  Iraq has made significant progress on its path to joining the World Trade Organization, stressing Baghdad's serious commitment and transparency in meeting the requirements of this important international process.  

Al-Ghariri explained in a statement that "the national team tasked with completing the accession requirements has completed answering more than 450 technical questions submitted by the organization's members, which reflects Iraq's commitment to achieving this strategic goal." 

The minister added, "The national team is fully prepared for the next round of meetings with the organization's General Secretariat and members of the working groups," stressing that
 
Iraq will be represented with a unified position based on a national economic vision aimed at orderly integration into the global economy. Al-Ghariri pointed out that
 
"joining the World Trade Organization represents a strategic step to
 
     support the business environment,
     stimulate investment, and
     develop productive sectors, particularly industrial and agricultural sectors, which
 
will enhance Iraq's economic standing regionally and internationally."  He continued:
 
"The Ministry of Commerce, in coordination with the relevant ministries and institutions,
will continue technical and diplomatic work to ensure the best results that serve the supreme national interest."  /End 8    https://ninanews.com/Website/News/Details?key=1231649  

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 6-4-25

Good Morning Dinar Recaps,

SEC CHAIR PAUL ATKINS SAYS IT'S A ‘NEW DAY’ FOR THE AGENCY, CALLS FOR ‘RATIONAL’ CRYPTO REGULATION

Paul Atkins is promising a “rational” approach to rulemaking instead of enforcement, as lawmakers eye sweeping reforms.

▪️ SEC Chair Paul Atkins said Tuesday the agency will prioritize "clear rules of the road" for crypto.
▪️ He testified that investor protection and innovation require regulatory clarity.
▪️ But some lawmakers are pushing for the CLARITY Act to shift oversight away from the SEC.

U.S. Securities and Exchange Commission Chair Paul Atkins is continuing on his crusade to bring a “new day” to the SEC and shift the agency's stance toward digital assets.

Testifying before the Senate Appropriations Subcommittee on Financial Services and General Government on Tuesday, Atkins vowed to pursue a "rational regulatory framework" for crypto assets, prioritizing rulemaking and transparency over enforcement actions.

“Clear rules of the road are necessary for investor protection against fraud—not the least to help them identify scams that do not comport with the law,” he said.

“Policymaking will be done through notice and comment rulemaking, not through regulation-by-enforcement,” Atkins added.

Atkins, a veteran of the SEC, was confirmed in April after a lengthy and partisan nomination process.

His return marks a stark departure from the approach taken by his predecessor, Gary Gensler, whose tenure was marked by enforcement actions against crypto firms and a broad interpretation of securities laws that made him unpopular with the crypto industry.

Since Gensler’s exit, the SEC has dropped several high-profile lawsuits, first under interim chair Mark Uyeda and then under Atkins, and has issued guidance for multiple categories of crypto, including exempting certain staking activities from securities regulation.

The agency's evolving posture comes amid growing momentum in Congress to strip the SEC of its authority over crypto altogether.

Last week, lawmakers introduced the CLARITY Act, which would amend securities laws to exempt most crypto assets from SEC jurisdiction and establish a new legal framework.

“Our bill secures American dominance, democratizes digital assets, unleashes innovation, and protects consumers from fraud,” said Rep. Bryan Steil (R-WI), chair of the House’s Financial Services Subcommittee.

However, Democratic staffers on the House Financial Services Committee have criticized the SEC for withholding an impact analysis of the bill, raising concerns that the proposal could create loopholes for traditional finance under the guise of blockchain adoption.

Atkins acknowledged the shifting legislative landscape but emphasized the role of the SEC's new Crypto Task Force and upcoming DeFi roundtable in supporting innovation.

"I anticipate benefits from this market innovation for efficiency, cost reduction, transparency, and risk mitigation," he said.

@ Newshounds News™
Source: Decrypt

~~~~~~~~~

Trump's CFTC Pick Brian Quintenz Set for Senate Hearing on June 10

Brian Quintenz, head of global policy at a16z crypto and former CFTC commissioner (2017–2021), is scheduled to appear before the Senate Agriculture Committee for his nomination hearing on June 10 at 3:00 p.m. The hearing could pave the way for his return—this time as Chair of the U.S. Commodity Futures Trading Commission (CFTC).

Trump’s Nominee Pushes for Senate Support

In February, former President Donald Trump nominated Quintenz to lead the CFTC. Since then, Quintenz has met with lawmakers, including Sen. John Boozman, to gain support. “We discussed the critical role the CFTC and its markets play in risk management throughout the economy, supporting our agriculture sector, and promoting innovation,” Quintenz posted on X after the meeting.

The Senate Agriculture Committee added: “His previous experience as a CFTC Commissioner and knowledge of derivatives and emerging markets will serve him well as leader.”

CFTC in Flux as Leadership Changes Unfold

Quintenz’s nomination arrives during a major leadership shuffle at the agency—four commissioners have recently stepped down or announced departures. His return could reshape the CFTC’s future, particularly regarding digital assets and crypto regulation, as Washington seeks to clarify the agency’s jurisdiction over various segments of the crypto markets.

Crypto Focus and Potential Conflicts of Interest

Quintenz is expected to bring crypto policy to the forefront if confirmed. He recently disclosed $3.4 million in assets, including positions in crypto-linked companies such as Kalshi, a prediction markets platform previously entangled in a long legal battle with the CFTC.

Quintenz has assured lawmakers that he would relinquish any roles or financial ties that could pose conflicts of interest if confirmed.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

CALIFORNIA ASSEMBLY PASSES BILL TO ALLOW CRYPTO PAYMENTS TO STATE

Assembly Bill 1180 moves to Senate after unanimous approval, could make California a crypto-forward state by 2026.

▪️ California’s AB 1180 passed the State Assembly in a 68–0 vote.
▪️ The bill would allow crypto payments to state agencies under the Digital Financial Assets Law.
▪️ If passed by the Senate and signed by the governor, it would go into effect July 1, 2026.

California has taken a major step toward embracing digital assets, as Assembly Bill 1180 (AB 1180)—which would permit state departments to accept cryptocurrency for fees and transactions—cleared the California State Assembly with a unanimous 68–0 vote on June 2. The legislation will now move forward to the State Senate.

If passed, the bill mandates the Department of Financial Protection and Innovation (DFPI) to create a regulatory framework under which digital assets could be accepted for payment under the Digital Financial Assets Law (DFAL). The DFPI is California’s main financial regulator, balancing consumer protection with responsible innovation.

If signed into law by Governor Gavin Newsom, AB 1180 would go into effect on July 1, 2026.

According to the bill’s sponsor, Democratic Assemblymember Avelino Valencia, a pilot program would run until January 1, 2031, at which point full implementation would begin.

California could soon join states like Florida, Colorado, and Louisiana, which already accept crypto payments for specific obligations. If enacted, the DFPI would also be required to submit a comprehensive report by January 1, 2028, documenting all crypto transactions processed, as well as any technical and regulatory hurdles faced along the way.

Under DFAL, a crypto transaction is defined as a digital representation of value used as a medium of exchange, but not legal tender.

The bill underwent four amendments before passing, including the removal of a section related to ride-sharing and personal vehicles.

“Bitcoin Rights” Bill Also Progressing

AB 1180 is designed to complement another legislative effort, AB 1052, also known as the “Bitcoin Rights” bill. That legislation, which passed its first committee with an 11–0 vote on May 23, seeks to ensure that crypto self-custody and private payments remain legal and protected throughout the state.

If passed, AB 1052 would legally recognize digital assets as a valid form of payment in private transactions and prohibit public entities from banning or taxing crypto based solely on its use in payments.

California already has a budding crypto economy, with 117 merchants accepting Bitcoin payments, according to BTC Maps data.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

America Urges India To Reject BRICS: ‘Do Business With the US’

U.S. Commerce Secretary Howard Lutnick said that the United States could reach a trade agreement soon with New Delhi. Lutnick touched upon various pain points between the two nations and suggested that India should scale back its involvement in BRICS and maintain cordial business relations with the U.S.

He said that India rubbed the U.S. the wrong way after buying military equipment from its BRICS counterpart, Russia. “There were certain things that the Indian government did that generally rubbed the United States the wrong way. For instance, generally buying your military gear from Russia,” he said.

To mend things, he noted that the Modi government is now buying military arms from the U.S. “So I think India is starting to move towards buying military equipment from the United States, which then goes a long way,” he added.

BRICS: U.S. Urges India To Open Up Their Markets: ‘We Want Access to Business and Finance’

Reports suggest that the U.S. is using India as a stepping stone to disintegrate the BRICS alliance. Many countries tried to reach out to the U.S. with new trade deals after Trump imposed tariffs on various goods. Lutnick appreciated India’s efforts to be among the early countries to amend trade policies that could benefit the U.S. “I think India is trying hard to be one of the earlier countries (to reach a trade deal with the U.S.), which I appreciated,” he said.

He added that the U.S. would want access to BRICS member India’s markets to reduce the trade deficit. “But what I hope to achieve is we would like market access. We would like our businesses to have reasonable access to the markets of India. We want to have the trade deficit reduced,” he said.

Lutnick revealed that the U.S. will also allow special access to BRICS member India if it opens up its markets. “Now, in exchange for that, what India is going to want is certain key markets to make sure that they have special access to the American marketplace,” he summed up.

India Had Rejected De-Dollarization Early This Year

BRICS member India had openly stated that the country is disinterested in the de-dollarization agenda. The Modi government made it clear that they want cordial ties with the U.S. and do not want to upend existing trade deals. India’s GDP is growing, and without the help of the U.S., business transactions would come to a standstill.

Cutting ties with America is a risky affair for the Modi government, as the Prime Minister does not want to hamper the growing GDP of the country. In addition, India hosts the largest IT sector for the U.S., and the two have been going hand-in-hand for three decades. If the country messes up with its IT sector, businesses could move to other developing nations. Therefore, BRICS member India will have more to lose than gain if it ends its reliance on the U.S. dollar.

Also, Trump has always called Modi his good friend, and the two share warm and gracious relations. Both leaders highly praise the other, calling each other’s decisions tough and bold. India is the only country in BRICS that has openly shown support for the U.S. dollar by rejecting de-dollarization.

India’s Market Potential Remains a Key Focus

The U.S. knows that BRICS member India has a huge market with potential returns worth billions of dollars. Its population of 1.4 billion people holds the key to revenues and profits worth millions and billions. Elon Musk’s Starlink is also looking at an entry into the Indian markets to provide high-speed internet connections. They are also planning to make the pricing affordable to cater to a larger section of the Indian audience.

@ Newshounds News™
Source:  Watcher.Guru

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

“Tidbits From TNT” Wednesday Morning 6-4-2025

 TNT:

Tishwash:  Advisor to the Prime Minister: The value of Iraq's natural resources exceeds $16 trillion

The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq is moving towards diversifying its GDP sources by expanding investment in the mining sector. He noted that the value of Iraq's natural resources exceeds $16 trillion.

 Saleh told the Iraqi News Agency (INA): "Iraq is moving towards diversifying its GDP sources by expanding investment in the mining sector, a sector that has been neglected for decades. The government has signed memoranda of understanding with reputable international companies in the fields of mineral exploration and investment, particularly in phosphate, sulfur, lithium, and copper fields.

This is within the framework of the strategic directions of the Iraqi government's program to diversify sources of national income and optimally utilize the country's resources." He added, "Investment in the mining sector will contribute to attracting billions of dollars in fields ripe for development, such as sulfur, phosphate, lithium, and other minerals."

He pointed out that "Iraq ranks first in the world in terms of the concentration of natural resources per square kilometer, and ninth globally in the value of various natural resources, with an estimated value exceeding $16 trillion, according to published global estimates."

He explained that "the various reserves of land wealth constitute a diverse stock of minerals, foremost among which is phosphate: its reserves are estimated at more than 10 billion tons, and our country ranks second globally in terms of reserves, and is concentrated in the Akashat region of Anbar Governorate. Second is free sulfur: our country enjoys large reserves in Mishraq in Nineveh Governorate, which are among the largest free sulfur fields in the world. Third is silica: in the Najaf region and western Iraq, it is used in the glass, electronics, and semiconductor industries, and is among the most important and purest reserves in the world, according to published international estimates." He continued, "Likewise, iron, manganese, copper, and gold are distributed across various regions of Iraq, particularly in the Kurdistan Region and the western and central borders, except for southern Iraq, which possesses vast reserves of other rare natural resources."

He pointed out that "the policy of diversifying the national economy by extracting and processing mineral resources for national industries, and then adopting their export by maximizing value-added chains in manufacturing or semi-manufacturing industries, will add at least 10 percent to the GDP in the first phase."

He pointed out that "after that, the percentage will increase to become one of the pillars of diversifying national income sources over time, especially if the link between mineral investment and the development of national manufacturing industries grows, such as fertilizer, aluminum, glass, electronics, and batteries related to renewable energy.

This is in addition to the introduction of foreign capital and advanced digital technology and services, the provision of national job opportunities, and investment in Iraqis as a productive national resource."

 He emphasized that "the mineral diversification policy is one of the opportunities to implement the philosophy of sustainable development and free the national economy from the extreme monopoly of oil resources. It is considered an economic defense against the monopoly of oil prices, which directly impacts the state budget."

He emphasized that "present and future generations will witness a new era of investment for Iraq in economic and technological progress and prosperity, towards building a promising model of balanced development." He noted that "Iraq, which strongly aspires to build investments in mining fields as an additional resource in the medium and long term, does not rule out investment in oil fields, but it cannot completely replace oil in the near term.

Rather, it serves as an important complement to the strategy of diversifying the national economy."

He concluded by saying: "The mining sector represents a promising opportunity for Iraq, not only to increase public financial revenues, but also to restore the structural balance of the Iraqi economy, create major national employment opportunities, and achieve diversified development in areas rich in natural resources, which will lead to increased investments in infrastructure, within a model of geographically balanced economic development for all of Iraq."  link

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

Tishwash:  Babylon discusses investment opportunities with the European Union ambassador

The local government in Babylon announced today, Tuesday, the reception of the European Union Ambassador to Iraq, Thomas Seiler, where the prospects of supporting European companies' investment in Babylon Governorate in various sectors were discussed.

Babil Governor Adnan Al-Faihan said, "During the meeting, the most prominent investment opportunities available in the province were reviewed, based on Babil's distinguished strategic components that qualify it to be at the forefront of Iraqi provinces in the industrial and agricultural fields, especially since it is the food basket of the Middle Euphrates, and has appropriate infrastructure and a fertile environment for investment.

He added, "We also provided the ambassador with a detailed explanation of the province's distinguished geographical location, its natural resources and the abundance of arable land, in addition to the presence of government and private factories that are capable of development, stressing our serious desire to attract investments to advance the economic and urban reality, and transform Babil into a competitive center capable of keeping pace with developed countries, especially since some of those countries do not have the capabilities and advantages that Babil possesses."

He stressed the local government's confirmation of the province's full readiness to cooperate with all European companies wishing to invest, while providing all necessary facilities and guarantees to create an attractive investment environment that contributes to achieving sustainable development and the desired economic prosperity.  link

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

Tishwash:  A strategic partnership between Asiacell and a Chinese company to enhance digital transformation in Iraq.

China Mobile International (CMI) Limited and Asiacell announced the signing of a memorandum of understanding aimed at enhancing cooperation in the field of telecommunications and digital solutions in Iraq, with a particular focus on empowering the business and enterprise (B2B) services sector.

A company statement received by Al-Mada said, "This partnership aims to support digital transformation efforts in Iraq by leveraging CMI's global expertise in technology and international connectivity, along with Asiacell's operational capabilities and infrastructure within the country. The two companies seek to provide innovative, reliable, and scalable solutions that contribute to raising business efficiency and stimulating growth across various sectors."

In this context, Alex Li, General Manager of China Mobile International in the Middle East, said: “We are very excited to work with Asiacell to open new horizons in Iraq. Our shared vision of building a digitally connected world and leveraging advanced technologies aligns perfectly with the growth potential of this market. This partnership represents our commitment to enhancing connectivity, driving digital transformation, and empowering businesses to keep pace with the digital age.”

For his part, Amer Al Sanaa, CEO of Asiacell, emphasized the importance of this collaboration, saying, "This partnership represents a milestone in Iraq's digital transformation journey. We are excited to partner with CMI, as this collaboration reflects our deep commitment to providing world-class communications and technology solutions that meet the needs of the region's evolving business sector."

This step reflects both parties' commitment to supporting Iraq's digital infrastructure and fostering innovation and sustainable growth through the integration of corporate services, international connectivity, and advanced technologies, contributing to building a globally competitive and interconnected digital economy.  link

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

Figured out the Answer I Did!!! - ole ""Mot"" Answers AGAIN!!  

Mot: OUCHie !!!!  

Iraq Economic News And Points To Ponder Tuesday Evening 6-3-25

The Coordination Framework Calls For Resolving Disputes Between The Center And The Region By Enacting An Oil And Gas Law

Political | 09:12 - 03/06/2025   Mawazine News - Baghdad -  The Coordination Framework stressed, on Tuesday, the necessity of enacting an oil and gas law to resolve the outstanding issues between Baghdad and Erbil, while warning against the use of political money to influence public opinion in the elections.

A statement by the Coordination Framework received by Mawazine News stated that it "held its regular meeting at Ammar al-Hakim's office, in the presence of Prime Minister Mohammed Shia al-Sudani, to discuss the latest developments in the political, service, and electoral situations."

Regarding developments with the Kurdistan Region of Iraq, the Coordination Framework, according to the statement, called for "dealing with every national issue in accordance with the constitution and governing laws," stressing "the federal government's commitment to the rights of all its citizens and its serious efforts to remove all obstacles.

" The Coordination Framework stressed "the necessity for the House of Representatives to enact an oil and gas law," considering it "the essence of the solution to the outstanding issues between Baghdad and Erbil."

Regarding the elections, the Coordination Framework renewed its "emphasis on holding the elections on the scheduled date," calling on the Iraqi people to "update biometric voter cards and participate widely, effectively, and consciously in the elections."

The Coordination Framework also warned against "the use of political money to influence public opinion." The Coordination Framework calls for resolving disputes between the central government and the region through enacting an oil and gas law

Mawazine News - Baghdad

The Coordination Framework stressed on Tuesday the need to enact an oil and gas law to resolve outstanding issues between Baghdad and Erbil, while warning against the use of political money to influence public opinion in the elections.

A statement by the Coordination Framework received by Mawazine News stated that it "held its regular meeting in Ammar al-Hakim's office, in the presence of Prime Minister Mohammed Shia al-Sudani, to discuss developments in the political, service, and electoral situations."

Regarding developments with the Kurdistan Region of Iraq, the Coordination Framework, according to the statement, called for "dealing with every national issue in accordance with the constitution and governing laws," stressing "the federal government's commitment to the rights of all its citizens and its serious efforts to remove all obstacles."

The Coordination Framework stressed "the need for the House of Representatives to enact an oil and gas law," considering it "the essence of the solution to the outstanding issues between Baghdad and Erbil."

Regarding the electoral issue, the Coordination Framework reiterated its "emphasis on holding the elections on the scheduled date," calling on the Iraqi people to "update biometric voter cards and participate broadly, actively, and consciously in the elections."

The Coordination Framework also warned against "the use of political money to influence public opinion."   https://www.mawazin.net/Details.aspx?jimare=262125

Oil Continues To Rise

Time: 2025/06/03 Read: 2,055 times  {Economic: Al Furat News} Oil prices rose for a second day, as the dollar's decline boosted the appeal of US-denominated commodities, while geopolitical tensions limit the prospects for increased supplies from Russia and Iran.

Brent crude traded near $65 a barrel after jumping 2.9% on Monday, while US West Texas Intermediate crude held steady at around $63.

The Bloomberg Dollar Index hit its lowest level since 2023, as Wall Street banks reiterated their expectations of a further decline in the value of the US currency.  LINK

 

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

Iraq Economic News And Points To Ponder Tuesday Afternoon 6-3-25

Experts: Liberation From The Rentier Economy Occurs Through Modern Banking.

June 2, 2025   Baghdad - Qusay Munther   Banking, academic, and legal experts predict that Iraq is on the path to a radical banking transformation that will transform the national economy from its dependence on oil to a diversified and sustainable capital market.

Banking Power

“The United Nations mission confirmed that Iraq possesses strong components that qualify it to become a regional banking power in the coming years, provided that available opportunities and capabilities are effectively invested,” said expert Anwar Dawood Al-Khafaji in a statement received by Al-Zaman yesterday.

She added that “the Iraqi banking sector, which has suffered for decades from serious challenges such as wars, sanctions, corruption, and mismanagement, is now witnessing important transformations, represented by the adoption of modern banking reforms, the move towards financial inclusion, and linking Iraqi banks to international networks.”

 She pointed out that “the United Nations mission believes that Iraq possesses significant liquidity and huge cash reserves, in addition to a strategic geographical location between the markets of the Gulf, Turkey, and Iran, which enhances its chances of becoming a regional financial center.”

 Al-Khafaji explained that “transforming into a banking power is not limited to modernizing the infrastructure alone, but rather requires building an integrated financial system characterized by transparency, efficiency, and trust, and attracting capital and investments,” stressing “the importance of establishing a modern banking culture based on financial inclusion, digitization, and compliance with international standards, stressing that this will redraw the map.” 

The national economy and enhances the status of the Iraqi dinar), and she went on to say that (the development of the banking sector will create a suitable environment to attract local and foreign investment, and provide financial support to small and medium enterprises that form the backbone of any productive economy, especially since these developments will positively reflect on stimulating the market and moving the wheel of industry, agriculture and trade, away from excessive dependence on oil), and she pointed out that (citizens will benefit directly from this transformation through the provision of easy financial services such as loans, payment cards and savings accounts, in addition to improving financial stability and reducing the parallel economy that burdens the state and citizens)

Strong Will

He continued, saying, "There is a need for strong political will to support the independence of the Central Bank, develop human resources in the banking sector, and firmly combat financial corruption, as trust is the cornerstone of building true banking strength.

It cannot be bought, but rather earned through commitment, transparency, and achieving tangible results." For their part, bankers said, "Iraq's success on this path will transform the country into a vibrant financial center in the heart of the Middle East," highlighting that, "This is the transformation the economy needs, the citizen deserves, and future generations await."  LINK

Baghdad markets witness a rise in dollar prices at the opening of trading on Tuesday.

Time: 2025/06/03 10:27:18 Reading: 2,190 times   {Economic: Al Furat News} The US dollar exchange rate rose this morning, Tuesday, in Baghdad markets.  The prices are as follows:   The selling price is 142,500 Iraqi dinars for $100, and the buying price is 140,500 Iraqi dinars for $100.   LINK

Gold Retreats After Approaching A Four-Week High

Money and Business  Economy News - Follow-up   Gold prices fell on Tuesday, after approaching a four-week high, as a modest rise in the dollar pressured the yellow metal. However, uncertainty over the US-China trade deal kept investors cautious and limited gold's decline.

Spot gold fell 0.3% to $3,369.98 per ounce by 02:49 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were steady at $3,390.

The yellow metal rose about 2.7% in the previous session, recording its strongest daily performance in more than three weeks.

"The dollar has recovered a bit and gold has fallen, so they are inversely related at this point," said Brian Lan, general manager at GoldSilver Central in Singapore. But he added that gold still closely tracks developments related to global trade.  The dollar index recovered slightly from a six-week low.

The White House said on Monday that US President Donald Trump and his Chinese counterpart, Xi Jinping, are likely to speak this week, days after Trump accused Beijing of violating an agreement to reduce tariffs and trade restrictions.

The United States is set to double tariffs on steel and aluminum imports to 50% starting Wednesday, the deadline set by the Trump administration for countries to submit their best proposals in trade negotiations.

Meanwhile, a memo published by Russian media showed that Moscow informed Kyiv during peace talks on Monday that it would only agree to end the war if Kyiv ceded significant new territory and accepted limits on the size of its military.

As for other precious metals, spot silver fell 2.1% to $34.07 per ounce, platinum was steady at $1,062.46, and palladium rose 0.1% to $990.26.  https://economy-news.net/content.php?id=56135

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 6-3-25

Good Morning Dinar Recaps,

Opening Remarks by Chair Jerome H. Powell
At the Division of International Finance 75th Anniversary Conference, Federal Reserve Board, Washington, D.C.

Chair Jerome Powell opened the 75th Anniversary Conference of the Division of International Finance (IF) by emphasizing the division's indispensable role in shaping U.S. monetary policy and global economic strategy over the past seven decades.

“In my time at the Fed, the IF division has provided invaluable insight into global economic activity, international trade and capital flows, and developments in foreign financial markets,” Powell noted. “Your research and analysis are critical inputs into our monetary policy decisions.”

A New Era for the Global Economy

The IF division was officially established on July 1, 1950, rooted in the post-WWII emergence of the U.S. as a global economic superpower. Powell highlighted a 1948 memo that called for its creation, which stated:

“Problems of international economics and finance have become increasingly large, complex, and significant in recent years…”

“That is the rare economic forecast that turned out to be spot on,” said Powell.

With the Bretton Woods Agreement placing the U.S. and the Fed at the center of the postwar financial system, the need for global economic expertise became clear.

The division has since evolved to monitor foreign policies, model global economic interactions, and help navigate volatile currency markets—especially after the fall of Bretton Woods in the 1970s.

Modeling the World Economy

One of the division's most important contributions has been its development of macroeconomic modeling tools. Under Ralph Bryant’s leadership, the IF division launched its first multicountry model, laying the groundwork for today’s sophisticated simulations.

“These models have proven useful for understanding how international shocks transmit through the economy and financial markets…” Powell explained. They provide core insights that inform research papers, FOMC briefings, and risk assessments used in monetary policy deliberations.

Prepared for Global Crisis

Powell recalled the IF division's instrumental role during numerous global crises—from the Latin American debt crisis of the 1980s to the Global Financial Crisis and the COVID-19 pandemic.

During the 2008 crisis, the division helped design swap line arrangements with major central banks to restore dollar liquidity. In 2020, the team spearheaded the FIMA Repo Facility, ensuring dollar availability during pandemic-induced turmoil.

The division has since developed new uncertainty indexes to measure geopolitical, inflation, trade, and economic risks, sharpening the Fed’s ability to anticipate and respond to global shocks.

Conclusion: A Legacy of Global Insight

In his closing remarks, Powell praised the IF division's enduring contributions:

“For 75 years, nine Fed chairs and countless Board members have greatly benefited from the guidance and counsel of IF staff—not just in times of crisis, but in our ongoing global engagements.”

He emphasized that the division’s deep expertise, research excellence, and global relationships continue to make it a cornerstone of the Federal Reserve’s ability to navigate the complexities of the international economy.

@ Newshounds News™
Source:  FederalReserve.gov

Live on Youtube:  Link

~~~~~~~~~

BRICS: Morgan Stanley Bets the US Dollar To Decline

The DXY index, which tracks the performance of the US dollar, has failed to sustain levels above 100 for over two months. The greenback continues to slide back to the 98–99 range every time it reaches the 100 mark. In contrast, local currencies are gaining momentum, outperforming the USD.

With BRICS currencies surging and the global financial tide shifting, Morgan Stanley has issued a stark warning: the US dollar is poised for further decline.

Morgan Stanley Forecasts a 9% Drop in the Dollar

As BRICS intensifies efforts to de-dollarize, Morgan Stanley predicts that the US dollar could fall by another 9%, possibly dipping back to levels last seen during the COVID-19 crisis. The bank's analysts foresee the DXY index dropping to 91, a level not touched in five years, despite global markets largely recovering from pandemic disruptions.

In their latest strategy note, Morgan Stanley wrote that the 10-year Treasury yields could also fall to 4% by year-end, reinforcing the notion that investors are moving away from U.S. assets.

“The outlook for the US dollar is questionable as de-dollarization soars among BRICS nations,” the report stated.

Currency traders are increasingly exploring local currencies as alternatives to the USD, especially as the greenback’s performance continues to lag. On just one recent Monday trading session, the USD dropped 0.51 points, remaining in the red from the opening bell.

Dollar Under Pressure as Global Sentiment Shifts

So far this year, the US dollar is down nearly 9%, even hitting a 12% loss in April following Trump’s "Liberation Day" tariffs. At the time, Morgan Stanley cautioned that BRICS could capitalize on these developments to further the de-dollarization agenda.

It’s not just BRICS members gaining ground. The euro, Chinese yuan, Japanese yen, and Indian rupee are all rising to challenge the greenback’s dominance.

“We think rates and currency markets have embarked on sizeable trends that will be sustained — taking the US dollar much lower and yield curves much steeper — after two years of swing trading within wide ranges,” said Morgan Stanley.

Euro, BRICS Currencies Gain Ground

In June, the Swiss franc, euro, and India’s rupee emerged as the biggest winners against the US dollar. Morgan Stanley strategists anticipate these rival currencies will continue outperforming the USD amid growing global discontent over U.S. tariffs and trade wars.

They project the euro could hit 1.25 by next year, rising from its current 1.13 level. This shift would signify a substantial blow to the USD and a strategic win for the BRICS bloc, which aims to redistribute global power from the West to the East.

Conclusion: Urgency for the White House and Fed

The BRICS alliance is gaining traction as demand for local currencies climbs, while the US dollar continues to weaken. Morgan Stanley's forecast is a wake-up call:

“The White House must take immediate steps to stop the USD’s erosion or fall prey to the de-dollarization agenda.”

This is no longer a theoretical concern. If current trends hold, the next decade could look very different, with the USD no longer holding global supremacy. The Federal Reserve and U.S. policymakers must act quickly to address these shifting dynamics—or risk watching the dollar’s era of dominance fade. 

@ Newshounds News™
Source:  Watcher.Guru

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

“Tidbits From TNT” Tuesday Morning 6-3-2025

TNT:

Tishwash:  Central Bank: Liquidity is available, and our reserves exceed $100 billion

The Central Bank confirmed on Monday that liquidity is fully available, while indicating that reserves have exceeded $100 billion.

Mohammed Younis, Director General of the Bank's Investment Department, told the Iraqi News Agency (INA): "Liquidity is fully available, whether in Iraqi dinars or US dollars, and there is no shortage in this regard." He pointed out that "the Central Bank's reserves have exceeded $100 billion, in addition to Iraq's large gold reserves, exceeding 163 tons."

Younis added that "the Central Bank is not an investment entity, but rather is concerned with managing Iraq's foreign exchange reserves," explaining that "the goal of these reserves is not to make profits, but rather to ensure reasonable returns."

He continued, "The reserves are managed according to well-thought-out policies based on high safety standards, and are invested in safe financial instruments that generate acceptable returns." He emphasized that "Iraq is on a good economic path."  link 

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

Tishwash: Al-Sudani and the Islamic Union Parliamentary Committee stress the importance of approving the oil and gas law.

Iraqi Prime Minister Mohammed Shia al-Sudani received a delegation from the Kurdistan Islamic Union Party's parliamentary bloc on Tuesday. The meeting discussed vital issues related to the relationship between the federal government and the Kurdistan Region.

During the meeting, the two parties emphasized the "need to find radical solutions, within the framework of the constitution and the law, regarding the Kurdistan Regional Government's financial obligations, based on the provisions of the budget law and the Federal Court's decision."

The importance of passing the oil and gas law was also emphasized, according to a statement from the Prime Minister's Office, referring to one of the most contentious issues between Baghdad and Erbil in years.

Al-Sudani explained that the government "is keen to meet citizens' aspirations and monitor their affairs throughout Iraq, based on its legal and constitutional responsibilities and the priorities and needs of citizens."

During the meeting, "a number of national issues and topics were discussed, as well as the government's implementation of its service and economic program."

For their part, members of the Kurdistan Islamic Union parliamentary bloc pointed to "the importance of the strengthening of security and social stability, coupled with a comprehensive economic and urban renaissance," praising "the government's efforts in service-related issues and tangible reforms, and their positive impact on the lives of citizens across the country."

This comes as the Coordination Framework also affirmed the federal government's commitment to guaranteeing the rights of all citizens, noting at the same time that the enactment of the oil and gas law represents the core of the solution between Baghdad and Erbil.

The Iraqi constitution devotes two articles to the issue of oil and gas, Articles 111 and 112, without addressing how the country's oil policy will be formulated. This was left to the issuance of the Oil and Gas Law, which, after two decades and the current Iraqi government's pledge to issue it within six months, remains unclear when it will be issued. link

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

Tishwash:  After the dollar stabilizes, the Sudanese Central Bank directs that price manipulators be held accountable (document)

Prime Minister Mohammed Shia al-Sudani issued an "important" directive today, Monday (June 2, 2025), to the departments responsible for combating economic crime to pursue and hold accountable those who manipulate prices, especially owners of food, medicine, bakeries and ovens.

According to a letter issued by the Prime Minister's Office, received by "Baghdad Today", al-Sudani's directive "comes after Iraqi markets witnessed a noticeable stability in the exchange rate of the US dollar against the Iraqi dinar, at a time when some weak-willed people still insist on selling goods at the previous prices, which witnessed a significant increase during the period of the decline in the value of the dinar against the dollar."

He stressed that "this manipulation directly harms the citizen and requires decisive government intervention to impose oversight and enforce the law."

text  of the document

May God's peace, mercy, and blessings be upon you.

M/Directive

In view of the stability of exchange rates (the dollar versus the Iraqi dinar), it was observed that some companies, merchants, and weak-willed individuals were exploiting prices or keeping them as they were without regard for market stability, especially food and medicine owners, bakeries, and ovens, due to their failure to adjust the selling prices of items that citizens need on a daily basis. There is no clear oversight role by the economic departments to follow up on these cases. After the Prime Minister - Commander-in-Chief of the Armed Forces was informed of the above content, His Excellency ordered the following:

The departments responsible for combating economic crime shall monitor and hold accountable those who manipulate prices and take the necessary legal measures against them.

Coordination with the Ministries of Trade, Agriculture, and Health to ensure the stability of the price ratio of items that affect the lives of citizens on a regular basis. link

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

Mot: .... Did You Know!!!! 

Mot:  Yet another ole ""Mot"" tip on Raising the ""Wee Folks"" 

The MM&C Iraq Dinar Update-Global ASYCUDA system-Pricing Changes-Taxation-Purchasing Power-Energy-WB

The MM&C Iraq Dinar Update-Global ASYCUDA system-Pricing Changes-Taxation-Purchasing Power-Energy-WB

6-2-2025

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=Rz0V5K0molY

Final Bull Leg Underway Before Market Collapses in Global Bust

Final Bull Leg Underway Before Market Collapses in Global Bust

Commodity Culture:   6-2-2025

David Hunter, renowned strategist and market forecaster, recently joined Jesse Day on Commodity Culture for a compelling discussion about the current state of the global economy and what lies ahead.

While many analysts are already bracing for a downturn, Hunter’s perspective offers a more nuanced, albeit ultimately dire, outlook: he believes we’re headed for one last, significant leg up in the broad market before experiencing a global bust of unparalleled magnitude.

In the interview, Hunter articulated his belief that the market still has room to run on the upside. He cited factors such as persistent liquidity in the system and lingering inflationary pressures as fuel for a final surge. However, he cautioned that this bullish phase is merely a prelude to something far more devastating.

Hunter attributes this impending collapse to a confluence of factors: unprecedented levels of global debt, reckless monetary policies, and a distorted financial system.

He believes that when the inevitable turning point arrives, the resulting deleveraging and economic contraction will shake the foundations of the global economy.

Given his bleak outlook, Hunter also discussed potential strategies for protecting wealth during the anticipated market crash. He emphasized the importance of diversifying assets and considering alternative investments that are less correlated with the broader market.

David Hunter’s forecast presents a sobering perspective on the future of the global economy. While acknowledging the potential for a final market rally, he underscores the urgent need for investors to prepare for an unprecedented economic collapse. By understanding the potential risks and strategically repositioning assets, investors can navigate the coming storm and potentially protect their wealth during one of the most challenging economic periods in history.

The key takeaway? Prepare now, because the window of opportunity may be closing.

https://youtu.be/3hPqJ6D8R4w

Iraq Economic News And Points To Ponder Monday Morning 6-2-25

They Made Half A Billion In A Year... E-Cards Become A "Dollar Smuggler" After The Remittance Loophole Was Closed In Iraq.
 
Economy     2025-06-01 | 6,035 views   Alsumaria News-Politics  revealed The Wall Street Journal on Sunday details that led to the reduction of withdrawal and spending limits on electronic cards outside Iraq, and the suspension of many of them.
 
The newspaper pointed to a jump of approximately 3,000% in MasterCard and Visa card transactions in Iraq, as armed factions and entities smuggling dollars to Iran resorted to these cards after losing the financing loophole through import remittances. The newspaper stated, "Just two years ago, the Iraqi market represented marginal value for Visa and Mastercard, generating less than $50 million per month in cross-border transactions at the beginning of 2023.

However, this value exploded to nearly $1.5 billion in April of the same year, an increase of nearly 2,900% in a short period."
 
The newspaper notes that what has changed, according to American and Iraqi officials and documents, is that armed factions have been extracting dollars through these cards, via the Visa and MasterCard payment networks,
 
after the US Treasury Department closed a major loophole used to fraudulently obtain dollars via foreign money transfers.
 
The newspaper explained that the factions had found a plan to use electronic payment cards after this loophole was closed, but the Treasury informed the card-issuing companies that armed groups were involved in using these cards.
 
It took the companies months to reduce financial transactions, and these transactions declined,  
but remained between $400 million and $1.1 billion per month until the beginning of this year.
 
The Central Bank even recently set a maximum of $300 million per month to control these payments.
 
The newspaper explains that because of the existence of an official and an unofficial rate, people would
 purchase electronic cards and   withdraw them in dollars outside Iraq in other Middle Eastern countries at the official rate.
 
They would then send the funds back to Iraq to be converted into dinars at the market rate,
earning profits of up to 21%.
 
The result was a thriving trade for powerful Iraqi factions.
 
The newspaper confirms that Visa and MasterCard generated profits from these transactions ranging between 1% and 1.4%.
 
Iraqi cardholders participating in the scheme are estimated to have generated profits of approximately $450 million in 2023 alone,  while foreign cards alone generated $120 million.
 
Revenues are estimated to have grown by 60% in 2024.

The newspaper says that in recent days, the Treasury Department has formally requested that the Central Bank of Iraq block more than 200,000 cards held by militia members due to fraud concerns.
 
Meanwhile, Federal Reserve and Treasury officials have begun asking Visa and Mastercard to explain the increase in transactions in Iraq in 2023 and have held regular meetings on the Iraqi market, including with officials from the Central Bank of Iraq in 2024 and early this year. Card companies began taking concrete action in March.        
https://www.alsumaria.tv/news/economy/528261/ربحوا-نصف-مليار-في-عام-البطاقات-الالكترونية-تتحول-الى-مهرّب-دولار-بعد    

Mogadishu Refinery Find Triggers Iraq’s Hunt For $100B In Lost Global Assets

Iraq Jawad Al-Samarraie May 30, 2025 AL Rafidain Bank branch in London, opened in 1954
 
Baghdad (IraqiNews.com) – A startling revelation at the Arab Summit in Baghdad this May has jolted Iraq into confronting a forgotten legacy:
 
a sprawling international portfolio of properties and investments, potentially worth at least $100B,
that has languished in neglect and obscurity for two decades.
 
The unexpected news of a large, Iraqi-built oil refinery still standing in Mogadishu, Somalia, has served as a dramatic wake-up call, triggering a renewed effort to trace and potentially reclaim these vast, squandered national assets.
 
The ghost refinery in Mogadishu, constructed in 1978 under a bilateral agreement and largely forgotten by Iraqi officialdom since 2003, was brought back to Baghdad’s attention by Somali President Hassan Sheikh Mohamud.
 
He informed Iraqi Prime Minister Mohammed Shia Al Sudani that the facility merely requires technical rehabilitation to become operational – a timely prospect as Somalia begins exploring offshore oil.
 
This single revelation underscored a much larger, more complex issue:
Iraq’s dozens of lost properties scattered across three continents.
 
During its oil-boom years in the 1970s and 1980s,
Iraq strategically invested its wealth globally, acquiring an estimated 50 significant assets.
 
These included luxury palaces and real estate in prime European locations like Cannes, France, Spain, the UK, and Italy; agricultural ventures such as tea, rice, rubber, and tobacco farms in Malaysia, Sri Lanka, and Vietnam; and diverse holdings in Africa, from tourist islands and agricultural factories in Mozambique and Nigeria to the aforementioned Somali refinery.

This was a policy of extending economic and diplomatic influence.
 
However, following the 2003 regime change, this global portfolio fell into disarray.
 
Iraq’s Parliamentary Integrity Committee previously revealed to news agencies that
crucial ownership documents were stolen or destroyed.
 
Some properties were illicitly transferred to individuals or shell companies linked to the former regime,  
while others simply vanished from official oversight, becoming a forgotten treasure.
 
Early attempts at recovery highlighted the dangers.
 
In 2012, an Iraqi Foreign Ministry delegation dispatched to Mozambique to inspect a state-owned asset,
believed to be a palace on a tourist island, received direct threats from an armed group controlling the site, forcing their immediate withdrawal.
 
The incident underscored the formidable challenges beyond mere legal claims.
 
The Mogadishu refinery news has now spurred the Iraqi government into decisive action.
 
Specialized legal and technical committees have been formed, and the Ministries of Oil, Foreign Affairs, and Justice are tasked with a coordinated global effort.
 
This includes attempting to re-register properties, settle outstanding tax issues,
and verify any remaining documentation.
 
Legal experts suggest Iraq could pursue claims through the International Court of Justice (ICJ)
or negotiate bilateral agreements with host nations.
 
They also stress the necessity of pursuing individuals and entities involved in the illicit appropriation of these assets, potentially through international arrest warrants via INTERPOL if sufficient evidence is available.
 
For a nation facing ongoing economic challenges and heavily reliant on oil exports, the potential recovery or proper investment of these assets, valued around $100B,represents a monumental financial opportunity.
 
Economists believe even partial success could generate sustainable revenue streams, offering a vital diversification away from almost exclusive dependence on crude oil exports for its budget.
 
However, the path to reclamation is fraught with obstacles.
 
Experts caution that some assets may now be subject to statute of limitations in their host countries,
or may have been legally acquired by other parties during Iraq’s two-decade absence from active management.
 
Furthermore, concerns exist about potential internal political interference derailing recovery efforts,
especially if assets are now linked to influential figures or complex, decades-old contracts that would be difficult to unwind without triggering intricate legal disputes.
 
Despite these challenges, the surprise rediscovery of the Mogadishu refinery has ignited a new sense of urgency and hope.
 
The Iraqi government’s renewed commitment, if pursued with transparency, international cooperation, and persistence, could potentially unlock billions in national wealth that has lain dormant across the globe for far too long, offering a much-needed boost to its economic future.
 
5. Image Alt Text Suggestions:
 
* “Archival photo of the Iraqi-built oil refinery in Mogadishu, Somalia”
* “Map highlighting locations of potential lost Iraqi assets across Europe, Asia, and Africa”
* “Somali President Hassan Sheikh Mohamud”
* “Iraqi Prime Minister Mohammed Shia Al Sudani”
* “Graph or visual representing the estimated $90 billion value of Iraq’s forgotten assets”
* “A dilapidated historic building representing a neglected Iraqi asset abroad”    
  
https://www.iraqinews.com/iraq/iraqi-government-hunts-forgotten-global-assets-saddam-era/

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