Iraq Economic News and Points To Ponder Late Sunday Evening 6-21-26

The Iraqi Government: There Are No Plans To Change The National Currency Or Remove Three Zeros From The Iraqi Dinar

The Iraqi government today reiterated that there are no plans to change the national currency or remove three zeros from the Iraqi dinar, while denying any intention to borrow externally to meet current economic challenges.

Government spokesman Haider al-Aboudi said in a statement that the news circulating about the imminent removal of three zeros from the Iraqi currency or the revaluation of the dinar and the adjustment of the dollar exchange rate is not based on any official decisions, stressing that the government does not have any project in this direction at the present time.

He added that the existence of quantities of printed banknotes is not related to procedures for changing the currency or modifying its value, noting that managing the money supply and determining its value are subject to the monetary policy of the central bank and the competent authorities.

Regarding the financial situation, Al-Aboudi stressed that the government does not intend to resort to internal or external borrowing to address the current pressures, explaining that what Iraq is going through falls under a temporary liquidity crisis imposed by recent regional changes, and not a structural financial crisis.

He pointed out that Iraq has significant economic potential and financial resources that enable it to overcome this stage, and that the government is continuously monitoring economic developments and taking measures to maintain financial stability and secure the state’s basic obligations.

 Added 2026/06/21 - 7:42 PM  https://www.economy-news.net/content.php?id=70536

Al-Kinani Reveals A Government Plan To Raise The Dollar Exchange Rate To 165,000 Next September.

 Baghdad Today – Baghdad   On Sunday (June 21, 2026), MP Ahmed Salim Al-Kinani, from the State of Law Coalition, revealed an anticipated government plan to raise the exchange rate of the US dollar to between 160,000 and 165,000 Iraqi dinars per 100 dollars, instead of the current rate of 132,000 dinars.

Al-Kinani said in a press statement, which was followed by “Baghdad Today”, that “this measure, which is expected to be implemented in September of this year (2026), comes as a necessary step that the government resorts to in order to secure operational expenses, foremost among which are the salaries of state employees and allocations for the social welfare network.” 

Al-Kinani warned of the "direct negative repercussions of this decision on the living conditions of citizens, especially those with limited income." 

He pointed out that "this trend will coincide with the imposition of additional customs duties of (15%) and a sales tax of (3%), which will negatively and directly affect the purchasing power of the Iraqi citizen as a result of the expected rise in prices."

Video link

https://baghdadtoday.news/301852-165.html

Iraq Rejects External Borrowing, Bets On Alternative Revenues

2026-06-21 / 05:35 Shafaq News- Baghdad    Iraq will not resort to external borrowing to address current financial challenges, government spokesperson Haider Al-Aboudi said on Sunday, stressing that the country's fiscal situation would be resolved through alternative measures.

 He told Shafaq News that the Oil Ministry is pursuing a strategy to diversify revenue sources, pointing to the launch of a new exploratory well in northern Iraq as a step toward increasing state income.

Iraq's economy depends on oil for between 90% and 95% of state revenues, making any disruption to exports a direct challenge to financing government spending, including salaries, pensions, and social welfare programs.

 Read more: Iraq's rentier economy: Risks and reforms

The recent conflict involving the United States, Israel, and Iran disrupted shipping through the Strait of Hormuz, reducing Iraqi exports to less than 800,000 barrels per day and causing estimated losses of $128 million daily, according to Eco Iraq.

Read more: Iraq’s oil bottleneck: Abundance trapped by dependency

 https://shafaq.com/en/Economy/Iraq-rejects-external-borrowing-bets-on-alternative-revenues

Dollar Gap Persists Despite Official Rate As Iraq Awaits Customs Reforms And Washington Talks

Mohammed Jangadost   Despite the Central Bank of Iraq maintaining the official exchange rate of the Iraqi dinar, a significant gap between the official and market rates of the U.S. dollar continues to raise concerns among traders, businesses, and citizens, while attention increasingly turns to the implementation of the ASYCUDA customs system and upcoming economic discussions in Washington.

Persistent Gap Between Official and Market Rates

During the first half of the year, the Iraqi dinar experienced continued volatility against the U.S. dollar, with the market exchange rate fluctuating between 150,000 and 155,000 dinars per $100. In contrast, the Central Bank of Iraq has maintained the official exchange rate at 132,000 dinars per $100.

The discrepancy of approximately 23,000 dinars between the official and parallel market rates has fueled uncertainty among importers and consumers. Market participants are closely watching whether the implementation of new customs and trade procedures will help reduce the dollar's market value below 150,000 dinars or whether continued pressures could push the exchange rate toward 160,000 dinars per $100.

Government Position and Washington Discussions

The Iraqi government has not issued any official statement regarding a possible adjustment to the dinar's exchange rate. Economic issues are expected to feature prominently during upcoming discussions in Washington, where Iraqi officials are anticipated to address financial challenges, budgetary pressures, and measures to strengthen the country's monetary stability.

Government advisers have stated that no formal discussions are currently underway regarding a devaluation of the dinar, despite previous recommendations from some international financial institutions that exchange-rate adjustments could help address fiscal imbalances.

Budget Deficit Pressures

Iraq is facing mounting fiscal pressures amid regional instability and disruptions to global energy markets. According to official estimates, the country recorded a budget shortfall exceeding 6.6 trillion dinars during the first four months of the year.

While adjusting the exchange rate is viewed by some economists as a potential means of reducing the budget deficit and securing government salary payments, such a move carries considerable risks, including higher inflation, increased consumer prices, and greater pressure on household incomes.

Inflation and Demand for Dollars

Inflationary pressures have also intensified. Iraq's annual inflation rate stood at 2.2 percent in April before rising to 4.3 percent in May, reflecting increasing costs in several sectors.

Demand for U.S. dollars remains elevated, with approximately 85 percent of market demand linked to commercial imports and trade activities. The remaining demand comes from individuals seeking dollars for personal needs, including mortgage and vehicle payments, travel expenses, and savings.

ASYCUDA System Seen as Potential Solution

Business leaders believe the implementation of the ASYCUDA customs system could help ease pressure on the foreign exchange market by facilitating access to official dollars for importers.

Aram Baban, a member of the Chamber of Commerce, said the participation of Kurdistan Region traders in the Central Bank's electronic platform remains slow, forcing many businesses to purchase dollars through the parallel market at rates reaching 155,000 dinars per $100.

Meanwhile, Nawzad Sheikh Kamil, Director General of Trade in the Kurdistan Region, said regional authorities have submitted a memorandum to Baghdad seeking the implementation of the ASYCUDA system.

Under the proposed arrangement, traders in the Kurdistan Region would no longer need to travel to Baghdad to complete currency transactions. Instead, after submitting invoices and required documentation, they would be able to obtain dollars at the official exchange rate within the region, a measure officials believe could help reduce demand in the parallel market and contribute to lowering the market price of the dollar.

Economists and market participants are now closely watching both the implementation of the new customs system and the outcome of upcoming economic discussions with U.S. officials, which could play a significant role in shaping Iraq's exchange-rate outlook in the months ahead.

 Dollar Gap Persists Despite Official Rate as Iraq Awaits Customs Reforms and Washington Talks

 https://channel8.com/english/news/60241

Unified Iraq, Kurdistan Region customs system to boost economy: Iraqi PM advisor

Jun. 20, 2026 •  "Its effects extend in the medium term to improving the business environment, enhancing investor confidence and reinforcing the principle of the unity of the Iraqi market," said Madher Mohammed Salih.

ERBIL, Kurdistan Region of Iraq - A financial advisor to Iraqi Prime Minister Ali al-Zaidi on Saturday said that unifying the customs systems between the federal government and the Kurdistan Region will strengthen Iraq's economic reform program and improve the management of non-oil revenues, coming after Baghdad and Erbil reached a technical agreement on the implementation of the ASYCUDA apparatus.

 “The importance of unifying customs systems lies in reducing cases of customs evasion resulting from differences in procedures and tariffs between border crossings,” Madher Mohammed Salih told Iraqi state media.

 The comments come days after representatives from the Kurdistan Regional Government (KRG) and the Iraqi federal government reached a technical agreement on implementing the Automated System for Customs Data (ASYCUDA) at border crossings in the Kurdistan Region.

 The two sides agreed on a draft mechanism during talks in Baghdad, though several issues remain unresolved, and the agreement still requires approval by Iraq's Ministerial Council for Economy.

 Salih added that the measure would also improve the “collection of trade data by creating unified databases for imports and exports,” providing policymakers with more accurate information and supporting more effective economic and financial policies.

 He said implementation would require “adopting unified electronic systems for customs collection and clearance” and linking border crossings to a central database capable of tracking goods in real time, alongside greater coordination between federal and regional authorities.

 The reform would help increase non-oil revenues by expanding the customs base, reducing financial leakages, and closing loopholes that have allowed inconsistencies in fees and procedures, he added.

“Its effects extend in the medium term to improving the business environment, enhancing investor confidence and reinforcing the principle of the unity of the Iraqi market,” the financial adivsor concluded.

ASYCUDA is a wholly digitalized border control system whose software was developed by the UN Conference on Trade and Development (UNCTAD).

 According to its website, the mechanism "handles manifests and customs declarations, along with accounting, transit and suspense procedures. It also generates trade data that can be used for statistical economic analysis."

The federal government have already adopted the system, with Erbil having previously requested more time before agreeing to implement it on Thursday should the technical agreement be approved.

 One of the main outstanding disputes is Baghdad's proposal that all customs revenues be transferred to the federal treasury before a portion is returned to the Kurdistan Region, a plan Erbil has yet to endorse, wishing instead that the Region will receive the full sum before depositing the adequate amount to the Iraqi exchequer.

 Iraqi Finance Minister Faleh al-Sari previously described the unification of customs systems with the Kurdistan Region as “a strategic step aimed at increasing revenues, strengthening oversight, and reducing https://thenewregion.com/posts/5678

An Economy On The Brink Of Oil Dependency: Calls To Break Free From Rentierism And Save Iraq From Market Shocks - Urgent

 Baghdad Today – Baghdad   Economic experts warn against Iraq’s continued reliance on oil as the almost sole source of funding for the public treasury, stressing that the absence of effective plans to diversify revenues has kept the country hostage to the fluctuations of energy markets and has reinforced the fragility of the rentier economy in the face of financial crises.

MP Mukhtar al-Moussawi told Baghdad Today on Sunday (June 21, 2026) that Iraq still relies on oil for nearly 90% of its treasury revenues, despite repeated warnings about the dangers of this dependence, especially with the sharp fluctuations in crude oil prices that have caused great pressure on the general budget in recent years.

Salaries Are Eating Up The Budget

Al-Moussawi explained that employee salaries account for the largest share of government spending, which increases the fragility of the financial situation and reduces the state's ability to direct funds towards development and investment projects.

He pointed out that raising the percentage of non-oil revenues to 30% of GDP has become an urgent necessity, and should reach 40% in the future to build a more balanced economy capable of facing crises, stressing that corruption and financial waste are still among the most prominent obstacles to economic reform.

Outlets, Taxes, And Wasted Resources

For his part, economist Ali Al-Masoudi confirmed on Saturday (June 20, 2026) that non-oil revenues are still below the desired level despite the measures announced by successive governments during the past years.

He added that activating electronic automation, reforming the work of border crossings, developing the tax system and addressing corruption in customs institutions could significantly increase the volume of public revenues and provide stable financial resources away from the fluctuations of oil prices.

Weak Oversight

Al-Masoudi explained in a statement to “Baghdad Today” that the absence of accurate databases and weak financial oversight lead to significant losses in public revenues, questioning the size of resources generated from border crossings, taxes, and government fees, and the extent of their actual impact on the level of services provided to citizens.

He stressed that tackling corruption and making bold decisions to manage financial resources are essential conditions for any real economic reform, warning that continued dependence on oil will keep the Iraqi economy vulnerable to financial shocks no matter how much oil revenues temporarily rise.

For decades, Iraq has relied on oil export revenues to finance the bulk of its public budgets, while the contribution of other productive sectors, such as agriculture, industry and tourism, to the gross domestic product remains limited.

With the recurring crises related to fluctuating global oil prices, calls are escalating for the adoption of comprehensive economic reforms aimed at diversifying income sources and enhancing non-oil revenues to ensure the stability of public finances and reduce dependence on a single resource. https://baghdadtoday.news/301802-.html

Seeds of Wisdom RV and Economics Updates Sunday Afternoon 6-21-26

Good Afternoon Dinar Recaps,

Japan Pension Fund Adds Cryptocurrency to Hedge Against Dollar Weakness

One of Japan's corporate pension funds is preparing to add cryptocurrency to its investment portfolio, signaling a growing institutional shift toward digital assets as a hedge against currency risk and the potential decline of the U.S. dollar's global reserve dominance.

Overview

• Japan's National Business Corporate Pension Fund plans to allocate 1% of its assets to cryptocurrency beginning in fiscal year 2026.

• The move is designed to hedge against currency depreciation, diversify reserves, and reduce dependence on the U.S. dollar.

• The decision reflects growing institutional confidence in digital assets as Japan advances its cryptocurrency regulatory framework.

Key Developments

1. Pension Fund Approves 1% Crypto Allocation

The National Business Corporate Pension Fund, which manages approximately ¥21.3 billion ($136 million) in assets, plans to invest roughly ¥213 million ($1.36 million) into cryptocurrency through diversified institutional investment funds rather than purchasing digital assets directly.

2. Currency Diversification Drives the Strategy

Fund officials emphasized that the decision is not a speculative investment, but rather a long-term strategy to reduce exposure to the Japanese yen and hedge against what they view as the gradual weakening of the U.S. dollar's reserve currency role. The fund will reduce yen holdings while increasing exposure to developed-market currencies, emerging-market currencies, gold, and digital assets.

3. Japan's Crypto Regulations Continue to Advance

The investment follows recent progress in Japan's digital asset legislation. Lawmakers have approved reforms under the Financial Instruments and Exchange Act (FIEA) that could eventually allow cryptocurrency exchange-traded funds (ETFs), while major Japanese financial institutions continue preparing new crypto investment products.

Why It Matters

Institutional adoption continues expanding beyond hedge funds and asset managers. Although this allocation is relatively small, it represents another example of traditional pension managers recognizing cryptocurrency as part of a diversified portfolio designed to manage long-term financial risk.

Why It Matters to Foreign Currency Holders

Currency diversification is becoming an increasingly important theme worldwide. As institutional investors broaden exposure beyond traditional reserve currencies into gold, digital assets, and alternative investments, many currency holders view these developments as signs of an evolving global monetary landscape.

Implications for the Global Reset

• Pillar 1: Assets

Institutional investors continue diversifying beyond traditional stocks and bonds by adding gold and digital assets as long-term portfolio hedges.

• Pillar 2: Technology

Japan's evolving regulatory framework demonstrates how governments are gradually integrating blockchain technology and digital assets into mainstream financial markets.

• Pillar 3: Financial Infrastructure

Growing pension fund participation reflects increasing confidence that digital assets may become part of future institutional investment strategies as financial systems continue modernizing.

Looking Ahead

If additional Japanese pension funds and financial institutions follow this example, institutional demand for regulated digital asset products could continue growing. Combined with Japan's evolving regulatory environment, these developments may further strengthen the country's position as one of the world's leading digital asset markets.

This is not just about one pension fund investing in cryptocurrency—it reflects the continuing evolution of global reserve diversification and the modernization of financial infrastructure in the digital age.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Bitcoin.com News – Japan's National Business Corporate Pension Fund Plans 1% Crypto Bet to Hedge Dollar Decline

• Nikkei Asia – National Business Corporate Pension Fund to Allocate Assets to Cryptocurrency

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Nobody Is Talking About The July 1st Deadline: Joel Skousen's Stark Warning

Nobody Is Talking About The July 1st Deadline: Joel Skousen's Stark Warning

Liberty and Finance:  6-20-2026

Joel Skousen warns that investors may be underestimating the long term risks of escalating global conflict, arguing that the current relief in markets could prove temporary.

He explains why he believes a wider World War III scenario, including the possibility of an EMP attack and prolonged infrastructure disruption, could trigger a historic collapse in financial markets, leaving stocks, cryptocurrencies, and even bank accounts inaccessible.

 Skousen also discusses why he believes preparedness, self sufficiency, and strategic planning are essential in a world facing growing geopolitical and economic instability.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Israeli influence on Iran war

6:00 Oil shock timeframe and shaky Iran deal

23:00 Preparedness step

https://www.youtube.com/watch?v=K4IQk3kF79k

Bond Market Implosion Is Coming

Gregory Mannarino Warns: Bond Market Implosion Is Coming

Lynette Zang:  6-20-2026

Gregory Mannarino joins Lynette Zang to discuss why he believes the bond market is the biggest threat facing the financial system today.

He explains the warning signs he sees in rising bond yields, the growing debt burden, and why he believes a future credit event could have far-reaching consequences for markets and the economy.

Chapters:

00:00 Bond Market Time Bomb & Warning Signals

05:55 Debt Implosion, Credit Freeze & the Endgame

08:24 Global Bond Yields Break Out — Why It Matters

09:26 Sound Money, Gold Standards & Fighting Fiat Currency

13:40 Wealth Transfer, Currency Devaluation & Financial Survival

16:57 JPMorgan Memo: Oil Shortages & Rationing Warnings

18:28 Fed-Treasury Debt Monetization Explained

22:36 Can Young People Lead a Financial Revolution?

24:15 Why $100,000 a Year No Longer Feels Wealthy

26:33 Inflation, Silver Dimes & Preserving Purchasing Power

28:18 Crude Oil Crisis, Supply Chains & Rising Prices

36:29 Gold, Silver, Community & Preparing for What’s Next

39:12 Stock Market Melt-Up, Fed Control & The Future of the System

https://www.youtube.com/watch?v=Wd_dm8COsTk

Iraq Economic News and Points To Ponder Sunday Morning 6-21-26

Parliamentarian: The Government May Move To Raise The Dollar Exchange Rate To 165,000 Next September

Money and Business  Economy News – Baghdad   Member of Parliament, Ahmed Salim Al-Kinani, revealed an anticipated government plan to raise the exchange rate of the US dollar to between 160,000 and 165,000 Iraqi dinars per 100 dollars, instead of the current rate of 132,000 dinars.

Al-Kanabi said that this measure, which is expected to be implemented in September of this year (2026), comes as a necessary step that the government resorts to in order to secure operational expenses, foremost among them the salaries of state employees and allocations for the social welfare network.

In contrast to this measure, which represents a solution for the operational budget, Al-Kinani warned of the direct negative repercussions of this decision on the living conditions of citizens, especially those with limited income.

The MP pointed out that this trend will coincide with an increase in the financial burden on traders through the imposition of additional customs duties of (15%), as well as a sales tax of (3%), indicating that these duties and taxes will be fully borne by imported goods and materials, which will negatively and directly affect the purchasing power of the Iraqi citizen as a result of the expected sharp rise in prices. https://www.economy-news.net/content.php?id=70507

The first round of the four-way negotiations in Switzerland has ended.

Arabic and international   Iran's Fars News Agency reported Sunday evening that the first round of quadrilateral negotiations in Switzerland had concluded.
The agency quoted a source within the Iranian negotiating team as saying, "The first round of quadrilateral negotiations has now ended."
Earlier in the day, media sources revealed details of the initial moments of the US-Iranian talks in the Swiss city of Burgenstock.

The sources stated that the Iranian delegation refused to take a joint photo with the American delegation at the beginning of the meeting.   https://www.economy-news.net/content.php?id=70524

Iraq Has Lost Nearly $38 Billion Since The Closure Of The Strait Of Hormuz.

Money and Business  Economy News – Baghdad   The Economic Affairs Observatory “Eco Iraq” announced that Iraq has lost about 350 million barrels of oil exports since the closure of the Strait of Hormuz, equivalent to about $37.7 billion, calling for accelerating the implementation of the “New Levant” project as a strategic option to secure alternative export outlets and reduce dependence on maritime outlets.

The observatory stated that prior to the closure of the Strait of Hormuz on February 28, Iraq was exporting between 103 and 107 million barrels of crude oil per month.

He explained that the closure of the strait due to the war in the region led to a decline in exports, with losses amounting to 84,395,049 barrels in March, 93,115,870 barrels in April, 92,801,000 barrels in May, while the current month of June recorded about 79,600,000 barrels.

According to "Eco Iraq", the gap in Iraqi exports during the aforementioned period is estimated at about 350 million barrels, representing lost export opportunities valued at about $37.7 billion based on average oil prices during the period.

He concluded his statement by noting that the "New Levant" project represents an urgent strategic necessity to ensure the stability of Iraqi oil exports and to secure vital alternatives away from the geopolitical risks that threaten maritime routes, especially since the Iraqi economy depends on oil revenues by nearly 90%.

https://www.economy-news.net/content.php?id=70450

Iraq Receives Notification From The International Transport Federation Confirming Significant Progress In Implementing The TIR System.

Money and Business     Economy News – Baghdad   The Ministry of Transport announced on Friday that Iraq has received notification from the International Transport Federation confirming that it has made significant progress in implementing the TIR system.

The Director of the Land Transport Department of the Technical Department at the Ministry of Transport, Israa Hanoun, stated that “a notification from the International Road Transport Union (IRU) reached the TIR Convention contact point at the Iraqi Ministry of Transport bearing the phrase (Iraq is stealing the offer) in a clear message confirming that Iraq has made high progress in implementing the TIR system during the year 2025.”

Hanoon explained that "the system has been fully operational and seven new international routes have been opened across Iraqi territory within eight months, and more than (1000) international transport operations have been carried out," noting that "the notification also confirms the continued adoption of the TIR system for the movement of goods in transit by land across Iraqi territory, which contributes to enhancing the efficiency and security of international trade and consolidating Iraq's position as an important regional logistics corridor." https://www.economy-news.net/content.php?id=70423

The Minister Of Industry Confirms Work Is Underway To Prepare A Comprehensive Investment Map Across Various Industrial Sectors.

Money and Business   Economy News – Baghdad    Minister of Industry and Minerals, Mohammed Nouri, confirmed on Saturday that work is underway to prepare an integrated investment map in various industrial fields.

The media office of the Minister of Industry and Minerals stated that "Minister of Industry and Minerals Mohammed Nouri received the Australian Ambassador to Iraq, Glenn Miles, and the meeting discussed ways to enhance joint cooperation in the industrial and investment fields."

The minister stressed the work on "preparing an integrated investment map that includes many promising opportunities in various industrial fields, in order to support development plans and the government's directions in revitalizing the industrial sector."

https://www.economy-news.net/content.php?id=70464

Al-Zaidi Oversees The Handover Ceremony For The Central Bank Of Iraq

Localities   Prime Minister Ali Faleh al-Zaidi presided over the handover ceremony on Sunday between the new Central Bank Governor, Nizar Nasser Hussein, and the outgoing Governor, Ali Mohsen al-Alaq.

According to a statement from his office, al-Zaidi emphasized "the importance of proceeding with banking reform programs, which contribute to achieving financial stability and providing a suitable economic and investment environment to promote development."

He also stressed "the necessity of keeping pace with the digital transformation the world is witnessing and applying international standards in implementing financial policies."

The Prime Minister commended al-Alaq's efforts during his tenure and directed that he be appointed as the Prime Minister's Advisor for Economic Affairs. He further emphasized the importance of completing strategic programs that enhance institutional performance and support financial and banking stability in Iraq. https://www.economy-news.net/content.php?id=70522

The Iranian Delegation Refused To Shake Hands And Pose For A Group Photo With The American Delegation.

Arabic and international    Media reports indicate that the Iranian delegation refused to participate in a planned handshake and group photo with the American delegation on the sidelines of the ongoing talks between the two sides.
According to observers, this move reflects the continued tension and mistrust between Tehran and Washington despite ongoing diplomatic contacts.

The Iranian position comes amid sensitive negotiations dealing with complex security and political issues, as Tehran has been careful to avoid any protocol-driven scene that might be interpreted as a show of political rapprochement with the United States, stressing its commitment to separating the negotiation process from the accompanying political and media messages.

https://www.economy-news.net/content.php?id=70521

Banias Is On The Iraqi Oil Pipeline... Baghdad Is Looking For An Alternative Outlet Away From Hormuz

Reports   Economy News – Baghdad   Iraq is moving towards a new phase in managing its oil exports by expanding export outlets towards Syrian territory, in a move that reflects a strategic governmental direction to reduce dependence on traditional routes in the Arabian Gulf and enhance energy security and exports in light of the geopolitical changes taking place in the region.

This trend comes at a time when Iraq is preparing to begin exporting about 50,000 barrels per day of crude oil through Syrian territory starting next July, in addition to exporting naphtha, as part of a broader plan to diversify export outlets and ensure the continued flow of Iraqi oil to global markets under all circumstances. 

Earlier, Syrian Energy Minister Mohammed al-Bashir discussed with former Iraqi Oil Minister Hayyan Abdul Ghani ways to enhance joint cooperation in the energy sector. Both sides praised the efforts made to begin exporting Iraqi oil through Syrian territory. They also discussed the possibility of supplying domestic gas to Syria and rehabilitating oil pipelines, most notably the Kirkuk-Banias pipeline.

During the call, the Iraqi side emphasized that oil cooperation with Syria represents a long-term strategic option and not a temporary measure related to the current situation, while Damascus continues to work on developing its oil infrastructure and restoring its role as a regional energy transit corridor.

These steps reinforce what was discussed during the recent meeting between Prime Minister Ali al-Zaidi and the US envoy to Iraq, Tom Barrack, in Baghdad, where the two sides discussed enabling the American companies HKN, Western Zagros and Hunt to resume their work in Iraq with the provision of the necessary security guarantees, as well as proceeding with the memorandum of understanding signed with TI Capital to rehabilitate and develop the oil export route via the Kirkuk-Banias pipeline, which is one of the most important strategic projects proposed to diversify Iraq’s export outlets.

According to Reuters, citing Iraqi and Syrian officials and energy sector sources, Baghdad views the Syrian route as a long-term strategic option, not a temporary solution tied to current regional tensions or risks to shipping in the Strait of Hormuz. Officials at the Iraqi Ministry of Oil confirmed that plans to diversify crude oil and fuel export routes will continue even after shipping traffic returns to normal, as part of a policy aimed at reducing reliance on a single export outlet.

In this context, Oil Ministry spokesman Salim al-Rikabi said that the Iraqi government and the Oil Ministry attach paramount importance to the issue of diversifying export outlets, particularly through Syrian territory, noting that the Iraqi Oil Marketing Company (SOMO) continues its discussions and cooperation with the Syrian side to expand export operations through this route.

Current data indicates that Syria is working in parallel to increase its operational capacity to receive the increasing Iraqi quantities, as the Syrian Ministry of Energy announced its intention to open two additional oil unloading areas in the port of Banias, along with new service facilities, while Syrian officials confirmed that the port is currently able to receive and unload up to 900 tanker trucks per day.

During the past months, the Syrian Petroleum Company also increased the operational capacity for unloading Iraqi tankers at the Banias refinery by 30% after operating new unloading yards and improving direct pumping routes to the tanks, which raised the number of tankers unloaded daily to about 500 tankers, equivalent to about 120,000 barrels per day.

Despite the importance of these steps, the path to building a sustainable export route through Syria is not without its challenges. The land infrastructure continues to face significant logistical pressures due to the damage inflicted on road networks during the years of war, in addition to the long traffic jams on the roads leading to the port of Banias, as well as some accidents that have occurred during transport operations and fuel spills in various areas.

On the other hand, energy experts believe that these challenges remain less costly than the risks that may result from relying entirely on the southern ports and the Strait of Hormuz as the sole passage for Iraqi oil exports.

Energy expert Kovand Shirwani confirms that recent events have demonstrated the importance of having alternative export outlets, explaining that Iraq lost up to 3.3 million barrels per day after exports through Basra ports stopped, an amount that represents about 94% of its total oil exports.

Shirwani told Al-Eqtisad News that the only remaining secure outlet is the pipeline to the Turkish port of Ceyhan, but the quantities transported through it do not exceed about 250,000 barrels per day, which is equivalent to only 7% of total exports, even though its design capacity can reach one million barrels per day if the necessary technical requirements are completed.

He added that developing the northern pipeline and linking it to the production coming from the southern provinces could contribute to transporting a large part of Basra's oil to the port of Ceyhan and then to European markets, but at the same time he stressed the importance of finding an additional outlet through Syria.

Shirwani pointed out that the importance of the Banias project lies not only in reviving the historic Kirkuk-Banias pipeline, but also in establishing any new oil pipeline that reaches the Syrian coast and gives Iraq greater flexibility in managing its exports.

He noted that the old pipeline is now completely out of service, but there is a possibility of creating a new route starting from the Haditha area in Anbar province as part of a proposed project to extend a pipeline from Basra to Haditha, then connect it towards Syria, Jordan, or even the northern network.

He indicated that the cost of establishing the Syrian part of the project may range between 6 and 8 billion dollars, while implementation requires a period of no less than two years, but he considered that the strategic returns of the project exceed its financial cost due to what it provides in terms of protection for Iraqi oil exports in the future.

Iraq typically exports around 3.6 million barrels of crude oil per day, making the diversification of export outlets one of the most important strategic issues related to the security of the Iraqi economy, especially since oil revenues represent the main source of funding for the general budget.

Therefore, experts view the expansion of the use of the Syrian route, along with the development of the Turkish Ceyhan pipeline and future pipeline projects, as part of a broader vision to build a more flexible export system capable of confronting geopolitical crises and regional turmoil that may threaten the flow of Iraqi oil to global markets.

https://www.economy-news.net/content.php?id=70449

What Happens If the U.S. Economy Crashes?

What Happens If the U.S. Economy Crashes?

By   Kimberly Amadeo   Updated on August 28, 2024

Although the initial outbreak of COVID-19 in March 2020 sent a shockwave through the markets and economy, another recent near-collapse of the U.S. economy happened on September 16, 2008. This is the day the Reserve Primary Fund “broke the buck"—the value of the fund’s holdings dropped below $1 per share.1

Panicked investors withdrew billions from money market accounts where businesses keep cash to fund day-to-day operations.2 If withdrawals had gone on for even a week, and if the Fed and the U.S. government had not stepped in to shore up the financial sector, the entire economy would likely have ground to a halt. Trucks would have stopped rolling, grocery stores would have run out of food, and businesses would have been forced to shut down.

Will the U.S. Economy Collapse?

A U.S. economic collapse is unlikely. When necessary, the government can act quickly to avoid a total collapse.

For example, the Federal Reserve can use its contractionary monetary tools to tame hyperinflation, or it can work with the Treasury to provide liquidity, as during the 2008 financial crisis and COVID-19 pandemic. The Federal Deposit Insurance Corporation insures banks, so there is little chance of a banking collapse similar to that in the 1930s.

The president can release Strategic Oil Reserves to offset an oil embargo. Homeland Security can address a cyber threat. The U.S. military can respond to a terrorist attack, transportation stoppage, or rioting and civic unrest. In other words, the federal government has many tools and resources to prevent an economic collapse. 

What Would Happen If the U.S. Economy Were to Collapse?

If the U.S. economy were to collapse, you would likely lose access to credit. Banks would close. Demand would outstrip the supply of food, gas, and other necessities. If the collapse affected local governments and utilities, then water and electricity might no longer be available.

A U.S. economic collapse would create global panic. Demand for the dollar and U.S. Treasurys would plummet. Interest rates would skyrocket. Investors would rush to other currencies, such as the yuan, euro, or even gold. It would create not just inflation, but hyperinflation, as the dollar would lose value to other currencies.

If you want to understand what life would look like during an economic collapse, think back to the Great Depression. The stock market crashed on Black Thursday. By the following Tuesday, it was down 25%. Many investors lost their life savings that weekend. 

By 1932, one out of four Americans was unemployed.3 Wages for those who still had jobs fell precipitously—manufacturing wages dropped 32% from 1929 to 1932.4 U.S. gross domestic product was cut nearly in half. Thousands of farmers and other unemployed workers moved to California and elsewhere in search of work. Two-and-a-half million people left the Midwestern Dust Bowl states.5 The Dow Jones Industrial Average didn't rebound to its pre-crash level until 1954.6

Dow Jones Industrial Stock Price Index: 1925–1960

After the Dow Jones peaked in 1929, the index fell during the Great Depression and didn't fully recover until 1954, 25 years later.   LINK   https://www.thebalancemoney.com/u-s-economy-collapse-what-will-happen-how-to-prepare-3305690

Collapse Versus Crisis

An economic crisis is not the same as an economic collapse. As painful as it was, the 2008 financial crisis was not a collapse. Millions of people lost jobs and homes, but basic services were still provided.

Other past financial crises seemed like a collapse at the time, but are barely remembered now. 

1970s Stagflation

The OPEC oil embargo and President Richard Nixon’s abolishment of the gold standard triggered double-digit inflation. The government responded to this economic downturn by freezing wages and labor rates to curb inflation.7 The result was a high unemployment rate. Businesses, hampered by low prices, could not afford to keep workers at unprofitable wage rates.8

1981 Recession

In 1981, the Fed raised interest rates in a bid to end double-digit inflation.9 That created the worst recession since the Great Depression. President Ronald Reagan cut taxes and increased government spending to end it.10

To Continue Reading:  https://www.thebalancemoney.com/u-s-economy-collapse-what-will-happen-how-to-prepare-3305690

Sunday Iraq News posted by Tishwash at TNT 6-21-2026

TNT:

Tishwash:  Al-Zaidi at the White House… “Starlink” and the oil fields are Baghdad’s gateway to breaking Washington’s favor

The whispering voice from the back corridors of diplomacy indicates that the Iraqi Prime Minister, Ali al-Zaidi, has become the fastest Iraqi Prime Minister to reach the White House after assuming office, in a visit that resembles not the rituals of routine protocol as much as it resembles the inauguration of a new geopolitical “threshold,” in which the chemistry of interests is intertwined with the fuel of strategic caution.

Behind the scenes in Washington, the anticipated visit is seen as marking a new phase in the relationship between Baghdad and Washington. It's not merely about exchanging agendas, but rather an attempt to forge broader cooperation on critical issues such as energy, the economy, and security.

As the drafts of the initial agreements whisper, there is a bold ambition to expand the presence of American companies in Iraq, particularly those operating in the southern oil fields, as well as granting important licenses to Starlink, in a move that symbolizes a breakthrough into Iraq’s troubled digital space.

However, this bright horizon is not without clouds in the form of looming obstacles, given the continued influence of Iran and armed factions in the Iraqi scene.

Here, specifically, the bitter reality is revealed; the statesman who tries to tame the factional dragon is dancing on the edge of an abyss, where the sounds of missiles sometimes rise above the voice of reason.

Al-Masalla highlighted a telling tweet by Iraqi political analyst Ghalib al-Nahi, who wrote: “Al-Zaidi’s visit is not a sightseeing trip… The man carries a briefcase full of promises, but he knows that the real decision-maker may not be in Baghdad or Washington.” In contrast, international relations professor Renad Mansour wrote on his account: “Granting Starlink licenses is a test of sovereignty… Does the Baghdad government have the luxury of opening up airspace without prior permission from the factions and Iran?”

Sources confirm that Washington has received initial positive signals regarding a number of demands that it had previously conveyed to the Iraqi government. The sources describe Barak's visit as pivotal in the course of Iraqi-American relations, considering that it establishes a different phase from that which followed 2003, based on clear commitments and mutual interests.

The burning core that could derail the negotiations, according to those sources, is the most prominent American demand to disarm all armed factions without exception, prevent their participation in the government, and complete the integration of the Popular Mobilization Forces into official security institutions after removing leaders associated with armed factions. link

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TishwashL  MP: Economic reform begins with activating the private sector

MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.
Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."

He added that "Iraq is currently experiencing an economic crisis as a result of mismanagement and poor planning, in addition to regional tensions that have negatively impacted the overall economic situation."

He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."
He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services."

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Tishwsh:  Following the FATF decision, economists warn of a heavy cost and financial isolation for Iraq after its return to the grey list.

 Economic experts warned on Saturday of the repercussions of Iraq's return to the "grey list" of countries under enhanced monitoring regarding efforts to combat money laundering and financial crimes, stressing that the slowness in addressing this issue could land the country on the "black list," where Baghdad faces international financial and economic isolation.

A step backward and an international alarm bell

In this regard, Ziad Al-Hashemi, a researcher and consultant in economics and international transport, said in a blog post that Iraq’s return to the Financial Action Task Force’s grey list after it was removed from it in 2018 represents a step backward and an international alarm bell indicating that compliance standards for combating money laundering and terrorist financing are still not being properly implemented.

He explained that "this negative development reveals a clear deficiency in the implementation of anti-money laundering and smuggling plans, which puts the Central Bank and the banking system in a worrying position before international financial institutions, and will increase the caution of international banks, especially correspondent banks that work with Iraq in completing dollar transfers."

Al-Hashemi pointed out that the expected result of this inclusion is to impose more scrutiny on foreign transfers, and to obligate the Central Bank to take complex measures to stop suspicious transactions, indicating that these steps may take a long period of reviews and adjustments to implementation and monitoring procedures.

Compliance costs and parallel market pressures

From an economic standpoint, the economic consultant confirmed that listing inevitably means higher compliance costs and foreign transfers, a slowdown in investment flows, increased pressure on exchange rates in the parallel market, and growing demand for cash transactions outside the banking system, with a possible increase in the cost of external borrowing.

For his part, the head of the “Iraq Future” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, warned in a written statement of the seriousness of this inclusion, saying: “The failure to complete the agreed procedures within the specified timeframes will cost Iraq a lot, and may expose it to the risk of being placed on the blacklist with its financial isolation and economic damages that affect the daily livelihood of the citizen,” stressing that the opportunity is still available to remedy the situation, but the cost will be exorbitant if it is missed.

The official position: A national plan and avoiding a "black" situation.

In contrast, the Anti-Money Laundering and Counter-Terrorism Financing Council, in cooperation with the Central Bank of Iraq, announced the adoption of a joint and specific action plan to develop the national system, stressing that Baghdad has succeeded through its proactive measures in avoiding the international “blacklist” by complying with standards and addressing weaknesses identified by international and regional groups.

The Council explained that the approved national plan indicates that the competent Iraqi authorities have made tangible progress since the adoption of the mutual evaluation report in November 2024, including the application of market entry controls and the introduction of risk reduction measures in the real estate sector, indicating that the enhanced follow-up path has been accompanied by many countries of the world and the region based on “Quality and Consistency” reviews and adjustment of weights and assessments due to the nature of the existing risks.

FATF decision and justifications for international listing

These field positions come in conjunction with the announcement by the Financial Action Task Force (FATF) yesterday, Friday, that Iraq has been officially placed on the "grey list".

The group’s chair, Elisa de Anda Madrazo, said in a statement translated by Shafaq News Agency that “the group’s plenary meeting decided to add Iraq to the enhanced monitoring list, as there is still an urgent need to take measures to address the risks associated with heavy cash transactions, increase judicial investigations related to money laundering, and enhance the use of financial information.”

Government priorities and anticipated financial reform

This shocking international decision and financial controversy comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are the cornerstones of its ministerial program. Prime Minister Ali al-Zubaidi had announced, since taking office last May, that rebuilding the financial system, attracting foreign investments, and fighting corruption channels would be at the forefront of his government’s program.

It is worth noting that the Financial Action Task Force (FATF) announced in July 2018 that Iraq had been completely removed from the monitoring and surveillance zone, as a result of the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering Office at the time in fulfilling international obligations and implementing a comprehensive financial compliance strategy, with broad participation from governmental, judicial and security systems, including the Supreme Judicial Council, the Ministries of Interior, the National Security and Intelligence Services, the Counter-Terrorism Service, and counterpart agencies in the Kurdistan Region.  link

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Tishwash:  An economic institution warns against the "dollarization" of the Iraqi economy and the deepening of poverty if the dinar is devalued.

The “Iraq Future” Foundation for Economic Studies and Consultations warned on Friday of the repercussions of reducing the value of the Iraqi dinar against the US dollar, stressing that the negatives of such a step - if the federal government takes it - will outweigh its temporary benefits to the country’s economy.

These warnings come at a time when political and financial circles are increasingly discussing the possibility of devaluing the local currency as an option to address the current deficit and alleviate pressure on the general budget, especially after government revenues declined sharply to only 10% compared to their previous levels before the recent military conflict in the region and the easing of the Strait of Hormuz.

The report quoted the head of the institution, economist Manar Al-Obaidi, as saying, "Despite the assurances in official reports regarding the stability of monetary policy and its pursuit of stability, it remains necessary to analyze the pros and cons of this approach to assess its real impact on the Iraqi economy and society."

Partial financial gains

The report explained that those who support the option of reducing the dinar rely on a number of financial and monetary gains; most notably providing a partial financial option that contributes to reducing government expenditures denominated in dinars (such as local salaries), which in turn reduces the overall size of spending in dollars.

Supporters also believe that higher prices for imported goods will enhance the competitiveness of local agricultural and industrial products, as well as protect cash reserves from continuous depletion and reduce the gap between the official exchange rate and the parallel market rate.

Risks of "dollarization" and recession

On the other hand, the institution warned of dire consequences that could squander these gains, most notably a complete loss of confidence in the national currency.

In this regard, Al-Obaidi explained that “the continuous change in the value of the currency at a rate of every two years undermines the public’s confidence in the dinar, which pushes the private sector and citizens to adopt the dollar as the primary currency in daily and commercial transactions.”

He added that this “dollarization” will create a huge demand for hard currency in the parallel market, which may cause the price gap to widen instead of narrowing as a result of the scarcity of official supply, warning that the lack of exchange rate stability will inevitably drive away local and foreign investments that base their feasibility studies on long-term plans.

The report also indicated that devaluing the dinar would automatically increase the cost of government contracts for purchasing goods and services denominated in foreign currency, thus raising the state's operating expenses and plunging the country into a spiral of "successive reductions" without sustainable financial guarantees.

A wave of inflation and deepening poverty

On the social level, the organization warned that the absence of adequate social protection mechanisms to support vulnerable groups means that the currency devaluation will generate a sharp wave of inflation that will push large segments of citizens below the poverty line, as well as bringing the commercial sector (which represents the largest share of non-oil GDP) into a state of paralysis and stagnation, which will negatively affect job opportunities and exacerbate unemployment rates among young people.

The head of the “Iraq of the Future” Foundation concluded his remarks by saying: “Adjusting the exchange rate alone is not a radical solution, but rather a postponement of a deeper crisis. The real problem lies in three main axes: the continuous inflation of operating expenses, the scarcity of non-oil revenues, and the imbalance in the trade balance. Comprehensive structural reform begins with addressing these roots and not through individual and temporary solutions.”  link

Seeds of Wisdom RV and Economics Updates Sunday Morning 6-21-26

Good Morning Dinar Recaps,

ASEAN Pushes Deeper Rare Earth Cooperation to Strengthen Global Supply Chains

ASEAN is seeking to deepen cooperation on rare earth elements (REEs) as global demand for critical minerals accelerates. By strengthening regional collaboration, Southeast Asian nations hope to reduce dependence on outside powers, expand domestic processing industries, and secure a stronger position in the global supply chain.

 Overview

• ASEAN nations are working to strengthen cooperation on rare earth elements, which are essential for electric vehicles, renewable energy technologies, semiconductors, electronics, and defense systems.

• China currently dominates global rare earth production and processing, prompting ASEAN members to pursue strategies that diversify supply chains and improve regional competitiveness.

• The focus is shifting toward downstream manufacturing, technology transfer, and regional investment to maximize the long-term value of the region's natural resources.

Key Developments

1. ASEAN Holds Significant Rare Earth Potential

Malaysia, Vietnam, Indonesia, and Thailand possess substantial rare earth reserves, giving Southeast Asia an opportunity to become an important alternative supplier as governments and manufacturers seek to diversify away from China's dominant position.

2. Emphasis Moves Beyond Mining

Rather than exporting raw minerals, ASEAN leaders are encouraging investment in refining, magnet production, battery manufacturing, and advanced processing to capture more economic value within the region.

3. Bilateral Deals Could Reduce Regional Leverage

The article warns that individual agreements between ASEAN countries and foreign governments or corporations could weaken the bloc's collective bargaining power, limiting opportunities for technology transfer, environmental standards, and long-term industrial development.

4. Regional Cooperation Could Strengthen Supply Chains

Analysts recommend expanding joint research, workforce development, financing partnerships, and coordinated investment strategies that allow ASEAN members to build complementary industries instead of competing against one another.

Why It Matters

Rare earth elements have become some of the world's most strategic resources. As demand grows for clean energy technologies, artificial intelligence, semiconductors, and advanced manufacturing, countries with secure supplies and processing capabilities will hold increasing economic and geopolitical influence.

Why It Matters to Foreign Currency Holders

Critical minerals are becoming an increasingly important driver of global investment, trade, and capital flows. Nations that successfully develop these industries may strengthen their export economies, attract long-term investment, and improve their financial positions as the global monetary system continues to evolve.

Implications for the Global Reset

• Pillar 1: Assets

Rare earth elements are emerging as strategic national assets, joining gold, energy resources, and critical commodities as governments seek greater economic resilience and supply chain security.

• Pillar 2: Trade

Diversified supply chains reduce reliance on a single producer while encouraging the development of new regional manufacturing hubs and stronger economic cooperation throughout Southeast Asia.

Bottom Line

ASEAN's push for deeper rare earth cooperation reflects a broader global effort to secure critical supply chains and reduce strategic vulnerabilities. If successful, the region could become a much larger player in advanced manufacturing while reshaping global trade and investment patterns for years to come.

This is not just about critical minerals—it reflects the accelerating shift toward resource security, industrial independence, and a more multipolar global economy. 

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Modern Diplomacy – A Bundle of Chopsticks: How ASEAN Can Deepen Rare Earth Cooperation

• International Energy Agency (IEA) – Global Critical Minerals Outlook

~~~~~~~~~~

 🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different:   • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents.    Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

~~~~~~~~~~

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Iraq Economic News and Points To Ponder Late Saturday Evening 6-20-26

A US Official: Iraq Has Agreed To Cooperate In Combating Money Laundering And Has Begun "Taking Steps"

2026-06-19 14:19  Shafaq News – Baghdad   A U.S. administration official confirmed on Friday that Iraq has agreed to cooperate with a financial group to combat money laundering, corruption and terrorist financing, and has begun taking positive steps in this regard.

The official told Shafaq News Agency that "after a process that lasted nearly two years to review the Iraqi system for combating money laundering and terrorist financing, Iraq agreed to work cooperatively with the Financial Action Task Force (FATF) to address the most strategic deficiencies in its system for combating money laundering and terrorist financing."

He added, "Iraq has already begun taking positive steps, demonstrating a political will to comply with the international standards set by the Financial Action Task Force (FATF)," noting that "we encourage Iraq to continue this positive movement and accelerate the implementation of the FATF Action Plan."

Sources indicated to Shafaq News Agency this evening that the changes being made by Prime Minister Ali al-Zaidi will affect more than 100 officials, and are closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.

The evaluation process is not limited to administrative performance alone, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.

According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.

According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.

Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say. https://www.shafaq.com/ar/سیاسة/مس-ول-ميركي-العراق-وافق-على-التعاون-لمكافحة-غسيل-ال-موال-وبد-بـ-اتخاذ-الخطوات

Exclusive: PM Al-Zaidi Targets Major Overhaul Of Iraqi Institutions

2026-06-20 04:32   Shafaq News- Baghdad   Iraqi Prime Minister Ali Al-Zaidi is preparing a broad reshuffle that could affect more than 100 senior officials across state institutions, with changes expected to include deputy ministers, agency heads, directors-general, and senior security officials.

Sources familiar with the matter told Shafaq News that a team appointed by Al-Zaidi is conducting a “comprehensive review” of government institutions, assessing the performance of senior officials and evaluating several administrative files. The review also examines the political and organizational affiliations of some officials, amid discussions about removing figures found to have neglected their duties or maintained links to armed factions.

Al-Zaidi has already introduced changes in key security and economic institutions, including the Iraqi National Security Service and the Central Bank (CBI). The planned reshuffle comes as the prime minister works to complete his cabinet formation and ahead of his expected visit to Washington, where he is due to meet US President Donald Trump.

Political sources told Shafaq News that US envoy Tom Barrack discussed a range of issues with Al-Zaidi during his recent visit to Baghdad, including the management of sovereign institutions and efforts to strengthen the independence of government decision-making.

According to the sources, the discussions coincided with the decision to abolish the posts of deputy prime ministers and shelve plans for a proposed Federal Security Ministry that would have brought together several security formations, including the Popular Mobilization Forces (PMF), a predominantly Shiite umbrella formation integrated into Iraq’s state security structure in 2016, and armed groups.

Negotiations within the ruling Shiite Coordination Framework over the security ministries and other disputed portfolios remain ongoing, with Al-Zaidi seeking to appoint “technocratic figures,” according to the sources.

The Framework meeting has been postponed until after the tenth day of Muharram*, as political parties await further clarity on the cabinet lineup and the scope of the expected changes.

*The first month of the Islamic lunar year. For many Muslims, particularly Shiite communities in Iraq, it commemorates the martyrdom of the third Imam Hussein ibn Ali, Prophet Mohammed’s grandson, at the Battle of Karbala.

https://shafaq.com/en/Iraq/Exclusive-PM-Al-Zaidi-targets-major-overhaul-of-Iraqi-institutions

MP: Economic Reform Begins With Activating The Private Sector

The Information Agency / Baghdad -  MP Ali al-Zirjawi called on the Prime Minister on Saturday to activate the role of the private sector and alleviate pressure on the country's general budget, given the current economic challenges.

Al-Zirjawi told the Information Agency that "the large operational expenditures in the general budget have caused recurring economic crises and affected the state's ability to implement sustainable development projects."

He added that "Iraq is currently experiencing an economic crisis as a result of mismanagement and poor planning, in addition to regional tensions that have negatively impacted the overall economic situation."

He pointed out that "addressing this crisis requires genuine economic reforms, foremost among them supporting the private sector and reducing reliance on government operational spending."

He stressed that "the current stage necessitates adopting more flexible economic policies to ensure the stability of the national economy and improve the level of services." End/25

https://almaalomah-me.translate.goog/news/136135/economy/نائب:-الإصلاح-الاقتصادي-يبدأ-من-تفعيل-القطاع-الخاص?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

The Central Bank Of Iraq Responds To FATF: We Avoided The Blacklist And Will Implement The Plan To Exit The Grey List.

Economy |   20/06/2026  Mawazin News - Economy   The Central Bank of Iraq responded to the Financial Action Task Force (FATF) regarding its placement on the grey list, pledging to implement the joint action plan adopted with the group to be removed from the enhanced monitoring list.

The Anti-Money Laundering and Counter-Terrorist Financing Council stated that the FATF adopted a joint action plan with Iraq during its recent plenary meeting, noting that the group's statement acknowledged the progress made by Iraqi authorities in several measures related to combating money laundering and terrorist financing.

The Council added that Iraq has made progress in implementing market access controls to limit criminals' and terrorists' access to vital sectors, strengthening oversight of non-bank financial institutions and the real estate sector, and developing the authorities' understanding of money laundering and terrorist financing risks.

The Council explained that Iraq will continue working with the FATF to implement the action plan, which includes strengthening risk management, regulating virtual asset service providers, increasing the effectiveness of reporting suspicious transactions, and expanding investigations into money laundering and terrorist financing crimes.

He affirmed that "Iraqi financial, judicial, regulatory, and security institutions are committed to implementing the plan's components according to specific timelines, thereby contributing to strengthening the resilience of the Iraqi financial system, protecting the national economy, and expediting Iraq's removal from the enhanced monitoring list."

The statement noted that "Iraq's inclusion on the enhanced monitoring track is a procedure that several countries have undergone during international evaluation rounds," emphasizing that "Iraq managed to avoid being placed on the blacklist by complying with international standards and addressing identified weaknesses."

https://mawazin.net/Details.aspx?jimare=284064

The Dollar As A Weapon Of Pressure: An Expert Warns Of American Dominance Over The Iraqi Economy.

The Information Agency / Baghdad...   Economic expert Faleh al-Zubaidi stated on Saturday that the United States is using the dollar as a tool of pressure and blackmail against Iraq to advance its interests and agendas in the country.

In a statement to the Information Agency, al-Zubaidi explained that “the visit of US envoy Tom Barrack to Iraq comes within the framework of attempts to impose political dictates and conditions on the Iraqi government.”

He added that "the dollar and the global financial system are subject to American hegemony, which is sometimes used as a means of pressuring countries, including Iraq, to achieve specific gains and interests."

He pointed out that "Washington may resort to economic and financial pressure tactics if Iraq does not comply with these dictates or imposed directives."

He emphasized that "the current economic reality requires strengthening Iraq's financial independence and reducing reliance on external financial instruments in order to preserve the country's economic autonomy." End/25

https://almaalomah-me.translate.goog/news/136125/economy/الدولار-كسلاح-ضغط-خبير-يحذر-من-هيمنة-أميركية-على-اقتصاد-العر?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

Seeds of Wisdom RV and Economics Updates Late Saturday Evening 6-20-26

Good Evening Dinar Recaps,

U.S.-Iran MOU Signed as Nuclear Talks Enter Critical 60-Day Phase

Technical negotiations have been postponed, but the Memorandum of Understanding remains in effect as both sides prepare for what could become the most difficult stage of diplomacy.

 Overview

• The United States and Iran have entered a new diplomatic phase after signing a Memorandum of Understanding (MOU) intended to halt hostilities and begin negotiations over Iran's nuclear program.

• Vice President JD Vance confirmed that the official 60-day negotiation period has begun, although planned technical meetings in Switzerland have now been postponed.

• Technical negotiations have been delayed while the United States and its partners finalize logistics. The White House says the American delegation remains prepared to travel once meetings are rescheduled.

Key Developments

1. Technical Talks in Switzerland Have Been Postponed

Although Vice President JD Vance was expected to travel to Switzerland, the White House confirmed that the trip has been postponed after discussions involving the United States, Iran, Qatar, Pakistan, and Swiss officials were delayed.

White House officials stated that technical negotiations have not yet been finalized and emphasized that the American delegation remains ready to depart once a new schedule is established.

2. The 60-Day Nuclear Negotiation Clock Has Officially Started

Despite the postponement, Vice President Vance announced that the MOU is now officially in force, beginning a 60-day period during which negotiators will attempt to reach a comprehensive nuclear agreement.

The next phase is expected to focus on:

• Iran's uranium enrichment program

• Disposition of highly enriched uranium

• Verification and inspections

• Future sanctions relief

• Long-term regional security arrangements

Vance emphasized that there will be no final agreement unless Iran meets U.S. conditions regarding its nuclear program.

3. Internal Political Divisions Appear to Be Emerging Inside Iran

A significant new development is the emergence of conflicting public positions within Iran's leadership.

According to reports discussed on Fox News, Iran's Supreme Leader has reportedly claimed he never personally approved the Memorandum of Understanding, describing it as more of a tactical pause than a permanent settlement.

At the same time, Iran's elected government continues participating in negotiations, suggesting there may be competing political factions influencing Tehran's negotiating position.

Analysts say these divisions could complicate future talks but may also create additional leverage for U.S. negotiators.

4. Strait of Hormuz and Regional Security Remain Central Issues

Vice President Vance reiterated that international waterways should remain open to commercial shipping, making the continued operation of the Strait of Hormuz one of the central objectives of the agreement.

Meanwhile, President Trump defended the MOU while emphasizing that the United States retains significant military leverage should negotiations fail.

Regional tensions involving Israel and Hezbollah continue to be monitored, although administration officials suggested they do not currently threaten the broader U.S.-Iran negotiating process.

Why It Matters

The signing of the MOU marks only the beginning—not the conclusion—of negotiations.

While military tensions have eased, the most difficult issues remain unresolved, particularly Iran's nuclear program, sanctions, verification procedures, and long-term security guarantees.

The temporary postponement of technical talks highlights how fragile the diplomatic process remains.

Why It Matters to Foreign Currency Holders

For those following developments connected to the Global Financial Reset, these negotiations could influence:

• Global oil prices

• Inflation trends

• Central bank monetary policy

• International trade through the Strait of Hormuz

• Demand for safe-haven assets including gold and the U.S. dollar

Markets will likely respond more to progress in the nuclear negotiations than to the initial MOU itself.

Implications for the Global Reset

• Pillar 1: Energy

Keeping the Strait of Hormuz open remains critical to global energy security and inflation stability.

• Pillar 2: Global Finance

Any eventual agreement involving sanctions relief, oil exports, or frozen Iranian assets could reshape international capital flows and commodity markets.

Looking Ahead

The next 60 days are expected to determine whether the newly signed Memorandum of Understanding evolves into a lasting agreement or remains only a temporary pause in hostilities.

Although technical meetings have been postponed, both Washington and Tehran continue signaling their intention to negotiate, while internal political divisions inside Iran may become one of the biggest variables affecting the outcome.

This is not just about ending a conflict—it reflects the growing connection between geopolitical diplomacy, energy security, and the evolution of the global financial system.

Sources

• Reuters – Switzerland says U.S.-Iran talks continue at Bürgenstock, declines to identify participants 

• Fox News – Mornings with Maria, June 20, 2026 (Vice President JD Vance announcement and White House update on postponed Switzerland talks).

•  Axios – Trump envoys arrive in Switzerland for Iran talks planned for Sunday 

~~~~~~~~~~

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Iraq Economic News and Points To Ponder Saturday Afternoon 6-20-26

US Command: 55 Ships Carrying More Than 17 Million Barrels Of Oil Have Crossed The Strait Of Hormuz

Arabic and international   The US Central Command announced on Saturday that 55 ships carrying more than 17 million barrels of oil had transited the Strait of Hormuz.In a statement, the Command said, "55 ships transited the Strait of Hormuz carrying more than 17 million barrels of oil to global markets," adding that "ship traffic in the Strait of Hormuz increased today as we continue to support freedom of navigation.

" The statement  concluded, "Our forces are prepared to ensure compliance with all aspects of the agreement with Iran." https://www.economy-news.net/content.php?id=70476

For The First Time In 48 Years, Iraq Breaks The Oil Exploration Stalemate In Its Northern Provinces.

Energy    Economy News – Baghdad   The Ministry of Oil announced on Saturday the commencement of drilling the first exploratory well in the northern provinces since 1978.

The ministry stated in a statement that, “In implementation of the directives of Oil Minister Bassem Mohammed Khudair, the technical and engineering staff of the Iraqi Drilling Company began drilling a new exploratory well within the Amerli district in Salah al-Din Governorate, under a tripartite contract that includes the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, in the presence of the Director General of the Iraqi Drilling Company and the Director General of the North Oil Company.”

She added that "this well is the first of its kind in the northern governorates since 1978, in a step that reflects the Oil Minister's directions towards revitalizing exploration work and developing promising blocks and reservoirs, with the aim of enhancing the hydrocarbon stock of oil and gas and increasing national reserves."

The minister affirmed, according to the statement, that "the ministry is proceeding with the implementation of its exploration programs aimed at enhancing the hydrocarbon reserves of oil and gas," noting that "the commencement of drilling this well represents an important milestone in the ministry's efforts to revitalize exploration work in promising areas after many years of inactivity."

He added that "the Ministry of Oil is adopting a new and clear vision based on expanding the drilling of exploratory wells and investing in geological and geophysical data, with the aim of enhancing the hydrocarbon reserves of oil and gas and securing resources that support the country's development and economic plans."

Khudair explained that "the project reflects the level of coordination and integration between the national oil formations, represented by the North Oil Company, the Iraqi Drilling Company and the Oil Exploration Company, to achieve the ministry's goals of maximizing hydrocarbon wealth and investing it optimally."

He added: “Increasing proven oil and gas reserves and compensating for depletion is a strategic goal for the Ministry of Oil, given its role in enhancing Iraq’s global oil standing and supporting long-term oil sector development plans.”

He pointed out that "developing hydrocarbon reserves contributes to enhancing the country's future production capabilities, and gives Iraq greater flexibility in managing the oil production and export file, in line with the size of its proven resources and reserves, and achieves the highest possible economic return to serve national development."

The minister affirmed that "the Ministry of Oil is continuing to implement its plans aimed at expanding exploration activity in various promising areas, which will contribute to supplying national reserves with new discoveries, enhancing economic sustainability, and supporting Iraq's position as one of the most prominent countries possessing oil and gas wealth in the world."

https://www.economy-news.net/content.php?id=70459

Baghdad And Erbil On The Path To Unified Customs: The End Of Fragmentation And The Beginning Of A Single Iraqi Market

Reports   Economy News – Baghdad   The Iraqi government and the Kurdistan Regional Government are moving towards a new phase of economic coordination through a project to unify customs systems and procedures at all border crossings, in a step seen as one of the most prominent milestones of financial and administrative reform in recent years, due to its direct impact on public revenues, trade, and the investment environment.

In recent days, Baghdad witnessed joint meetings between the Border Ports Authority, the General Authority of Customs, and the Kurdistan Region Customs Authority, with the participation of representatives from the relevant sectoral bodies, to discuss mechanisms for unifying customs tariffs and implementing the electronic ASYCUDA system at all border crossings, in addition to discussing customs exemptions, lists of prohibitions and restrictions, standardization procedures, quality control, radiation inspection, compliance with the agricultural calendar, addressing unofficial border crossings, and unifying tax procedures.

During the meeting, the head of the Border Ports Authority, Omar Adnan Al-Waili, stressed the importance of dealing with the issues raised in a positive spirit, while giving priority to facilitating trade between the region and the Iraqi governorates, noting that unifying procedures would reduce the burdens on drivers and traders and achieve greater smoothness in the movement of goods, which would reflect on economic stability.

This government initiative comes within the framework of a broader trend towards digitizing customs work and unifying trade policy throughout the country, especially with the expansion of the application of the ASYCUDA system, which was developed by the United Nations through the United Nations Conference on Trade and Development (UNCTAD), and is one of the most widely used customs systems in the world for managing import, export, and transit operations, automating customs procedures, and increasing the efficiency of collection and control.

In this context, Finance Minister Falih Sari stressed that unifying customs systems and procedures between the federal government and the Kurdistan Region represents an important strategic step within the path of economic reform and strengthening non-oil revenues, stressing the importance of implementing the ASYCUDA system in the region’s customs centers because it provides advanced control and administrative tools that contribute to developing customs performance and enhancing electronic control.

He explained that the joint meetings discussed mechanisms for implementing the system currently adopted at the federal ports and reviewed the results achieved in the field of digital transformation and simplification of procedures, as well as exploring ways to unify data and customs procedures between Baghdad and Erbil in line with international standards, enhance transparency, and raise the efficiency of border port management.

The government affirms that the implementation of the unified electronic system will contribute to reducing customs evasion cases, maximizing non-oil revenues, and tightening control over the movement of goods entering and leaving.

This prompted both sides to sign a joint memorandum that includes a set of recommendations and executive procedures for implementing the system in the customs centers affiliated with the Kurdistan Region, in preparation for submitting it to the Ministerial Council for Economy to complete the necessary legal procedures.

This file is of particular importance in light of the Kurdistan Regional Government’s approval of the implementation of the ASYCUDA system, as the head of the regional government, Masrour Barzani, had previously confirmed that the region had no objection to implementing the system, while requesting a technical grace period of about nine months to complete the necessary infrastructure requirements for its implementation.

The Prime Minister’s financial advisor, Mazhar Muhammad Salih, believes that unifying the customs systems between the federal government and the region represents a strategic step within the economic and financial reform project, explaining that its importance is not limited to the administrative aspect only, but extends to building a unified trade policy and enhancing the state’s ability to manage its non-oil resources more efficiently.

Saleh said that unifying customs systems will contribute to reducing cases of customs evasion resulting from differences in procedures and tariffs between ports, as well as unifying the databases for import and export movement, which provides more accurate information to decision-makers and helps to formulate more efficient economic and financial policies.

He added that the success of the project requires the adoption of unified electronic systems for collection and customs clearance, linking all border crossings to a central database that allows for real-time tracking of goods movement, in addition to activating joint monitoring and auditing and the exchange of information between the relevant authorities in the federal and regional governments.

Saleh pointed out that unifying customs systems will support increasing non-oil revenues by expanding the customs base, reducing financial leakage, and closing loopholes that allowed for different fees or duplication of procedures. He explained that this will achieve greater fairness in collecting fees and taxes on imports, enhance public treasury resources, and reduce excessive dependence on oil revenues.

The expected gains are not limited to the financial aspect only, as specialists believe that unifying customs procedures between Baghdad and Erbil will reduce the time and cost associated with the movement of goods within Iraq, strengthen the principle of national market unity, and give investors a clearer and more stable view of the business environment, as well as reduce the complications facing traders and importers when moving goods between the region and other governorates.

The success of this project will also contribute to strengthening confidence in the Iraqi economy among international institutions and foreign companies, especially with Iraq’s move towards expanding regional trade and implementing major strategic projects in the fields of transport and logistics.

Given the financial challenges facing oil-dependent economies, the move to unify customs systems between Baghdad and Erbil appears to be part of a broader vision aimed at building a more diversified and sustainable economy, based on developing non-oil revenues, improving financial management, and employing modern technology in managing border crossings, thereby enhancing state efficiency and consolidating the unity of the Iraqi market on more organized and transparent foundations. 

https://www.economy-news.net/content.php?id=70461

You Weren't Crazy 17 Years Ago You Were Early

You Weren't Crazy 17 Years Ago. You Were Early

Notes From the Field By James Hickman (Simon Black / Sovereign Man)  June 19, 2026

20 years ago, if you recognized how deep America's problems were, it was easy to feel like you were the crazy one.

Banks were handing out mortgages to people who plainly couldn't afford them. Wall Street bundled those mortgages by the millions and sold them on as some of the safest investments around. And the whole structure rested on the assumption that home prices would never fall, so a bank could simply sell the home for more in case of a default.

Chief among the “experts” selling this fiction was Ben Bernanke, then chairman of the White House Council of Economic Advisers, who said in 2005, "We've never had a decline in house prices on a nationwide basis."

In March 2007, with subprime loans already going bad, Bernanke, by then Fed Chairman, told Congress the damage "seems likely to be contained."

That May he said he didn't expect "significant spillovers… to the rest of the economy."

As late as July 2008, weeks before the two mortgage giants collapsed into government hands, he called Fannie Mae and Freddie Mac adequately capitalized and in no danger of failing.

Then on September 15, 2008, Lehman Brothers filed the largest bankruptcy in US history, and the structure came down. Prices fell, those homes were suddenly worth less than the loans against them, and the safest investments around turned toxic.

By 2009, Washington was spending, bailing out, and printing at record scale, and the obvious question was how long it could possibly go on.

That was the world the very first Sovereign Man letter dropped into, in June 2009, exactly 17 years ago.

We wrote about a real man named William "Bud" Post who had gone flat broke, on food stamps, with lawsuits, jail time, and bankruptcy behind him. What made it strange was that in 1988 he'd won $16.2 million in the Pennsylvania lottery.

Bud, we wrote, is the United States of America.

America hit its own lottery after World War II, coming out the only major economy left standing, the dollar enthroned as the world's reserve currency. And like Bud, it spent the next several decades certain the money would never run out.

LBJ got bogged down in Vietnam while building the Great Society. George W. Bush entered two wars and told Americans to go shopping, and Obama, fresh off the bailouts, was promising universal healthcare.

It was the steady avoidance of every hard choice. We called it winner's syndrome: "we've been winners for so long we don't know any other reality."

In 2009, that was an unpopular thing to say.

The consensus treated the crisis as a stumble the economy would walk off, and calling America structurally broke got you labeled a crank.

We didn't say it was a death sentence, though. We argued the opposite, that clear thinking could still save America: take the hit, let failing businesses fail, restructure, and come out stronger.

"Unfortunately," we wrote, "there are no near-term indications of rationality in Washington."

17 years later, that is more true than ever. If anything, Washington has gone backwards.

For example, Social Security's own trustees now project the main retirement trust fund runs dry in 2032, after which scheduled benefits get cut by roughly 22% automatically.

That’s not some distant future where maybe at some point someone will have to start thinking about a solution. It is 6 years away.

And the fixes are no secret; the trustees themselves lay out the options, from higher payroll taxes to benefit cuts.

But they've ignored it for so long that simply hearing a few members of Congress acknowledge the scale of the problem now feels like progress, even though acknowledging it is a long way from fixing it.

We were early; the reckoning we kept warning about has taken longer to arrive than we thought.

But early isn't wrong: everything that first letter described is more true today than it was in 2009. Washington could still choose to fix it, exactly as it could have back then. It simply has to want to, and seventeen years of evidence says it doesn't.

Your Plan B, fortunately, doesn't require Congress to find its courage.

And that was the entire reason this company was founded.

That was the promise at the end of that first letter: while the country may be on a slide, clear thinking could still save you, "and that's where we come in."

That's still exactly what we do.

Sovereign Man grew into Schiff Sovereign, and one daily letter became a full body of research.

Every month, our co-founder James Hickman gives his in-depth view of the world in the Macro Brief, mapping where the debt, the dollar, and global events are heading. He points to specific real assets that can protect your savings; the gold, energy, and resource businesses that hold their value as the dollar slips.

It’s available to members of Premium 

Members of our flagship membership, Plan B Confidential, get even more.

This is the original idea the first letter was built on: don't put all your eggs in one basket, and don't hand one government the keys to your entire life. Plan B Confidential is the playbook for second citizenship so you always have another way out, foreign residency so you always have another place to live, offshore banking so your savings aren't trapped in one banking system, and the legal tax strategy that lets you keep as much of your money as possible.

It's built on boots-on-the-ground research across more than 120 countries.

And because so much of the threat from a bankrupt government printing money and draining the value of your savings is financial, we've zeroed in on real assets through our investment research newsletter, Strategic Assets.

 A real asset is something with worth of its own, the kind of thing people need no matter what the dollar is doing: gold as a store of value, energy, the metals that build everything. A government can print money by the trillion, but it can't print an ounce of gold or a barrel of oil, so real assets tend to hold their value, and often climb, exactly when paper money is falling apart.

And for readers who want it all, we offer Total Access.

Members get everything we publish, from the macro analysis to the investment research, and all the international strategies in between.

But Total Access members also get the community: other members who they meet at in-person events, conferences, dinners, and most recently, small group boots-on-the-ground trips around the world.

From a superyacht along the Croatian coast to a trek through the Patagonian Andes, members explore the world together, and finally find their tribe in each other.

That's the part we could never have planned 17 years ago.

Back then, we wrote to a handful of people willing to question what everyone else accepted as obvious. You were one of them, or you found your way here since, because you see the world through that same lens.

That's what built this. Not us. You.

Here's to the next chapter. 

The Schiff Sovereign Team 

https://www.schiffsovereign.com/trends/you-werent-crazy-17-years-ago-you-were-early-155339/?inf_contact_key=2711d6e0b2df39d67ae534ce5c36e4361f4656d5a280bd26233b3d1e6f4a07a6

Saturday Iraq News Posted by Tishwash at TNT 6-20-2026

TNT:

Tishwash:  Algerian: The government will be forced to change the exchange rate after the country's economic downturn.

 Information/Baghdad...

The head of the political body of the National Tribal Movement, Abdul Rahman al-Jazaeri, confirmed that the government will be forced to change the dollar exchange rate in local markets after the economic downturn the country has witnessed as a result of the war in the region.

Al-Jazaeri told Al-Maalouma, "The Prime Minister's move to increase the value of the dollar in local markets at the expense of the Iraqi dinar is possible and not unlikely given the conditions and developments in the region and their repercussions on Iraq."

He added, "The war in the region has had a complete and clear impact on all Iraqi economic programs, the budget, the dollar exchange rate, and foreign transactions, in addition to the disruption in the export of Iraqi oil."

He explained that "the urgent need compels the government to take measures that will increase the exchange rate in local markets in order to put the economy back on track, especially with an economic figure at the top of the executive branch." 

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Tishwash:  An economist warns that changing the exchange rate without structural reforms could exacerbate inflation and poverty.

 Economic expert Manar Al-Obaidi confirmed on Friday (June 19, 2026) that changing the exchange rate of the dinar against the dollar as a unilateral measure to reduce public spending may have negative effects that outweigh its temporary gains, calling for addressing the structural imbalances in the Iraqi economy.

Al-Ubaidi said in an analysis seen by “Baghdad Today” that “reducing the value of the dinar may achieve some gains, including reducing government spending denominated in dinars, limiting imports, supporting local products, as well as reducing pressure on cash reserves.”

He added that "the decision may entail a number of risks, most notably the loss of confidence in the local currency and increased dependence on the dollar, weakening the investment environment, increasing the state's operating expenses, as well as growing rates of inflation, poverty and unemployment."

He pointed out that "the real economic problem lies in the inflation of operating expenses, the weakness of non-oil revenues, and the imbalance in the trade balance," stressing that "real reform begins with addressing these issues structurally, and that any adjustment to the exchange rate should be part of an integrated package of economic reforms."  link

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Tishwash:  Ahead of his visit to Washington, al-Zaydi's "sieve" causes the biggest government shake-up since 2003.

 It wasn't long after Ali Faleh al-Zaidi took over his duties that he began sending clear signals to his opponents and allies at the same time, under the title "The next stage will not be an extension of what came before it."

While his government is still completing its ministerial formation, informed sources speak of a broad list of changes that may affect more than 100 officials at various administrative levels, starting with undersecretaries and not ending with directors-general, in a move that seems closer to redrawing the centers of influence within the Iraqi state than to mere routine administrative procedures.

According to information obtained by Shafaq News Agency, the team assigned by Al-Zaidi to review the performance of government institutions is continuing its work away from the spotlight, through a comprehensive evaluation of official institutions and bodies, in preparation for launching one of the broadest replacement operations that the country has witnessed since 2003.

The evaluation process is not limited to administrative performance only, but also includes the nature of the political and organizational affiliations of some officials, amid talk of a trend to remove figures who are accused of being close to armed factions or who have failed to manage the files entrusted to them during the past years.

In a country where successive governments have been accustomed to "waiting before approaching high positions for fear of clashing with influential parties," al-Zaydi's moves appear to be very different.

The current prime minister began his term with a series of decisions affecting sensitive security and economic positions, including the National Security Service and the Central Bank, which opened the door to questions about whether these steps represent the beginning of a project to restructure state institutions, or whether they come in response to the requirements of a "new political phase" in which internal calculations are intertwined with external pressures.

The timing of these measures is of exceptional importance as al-Zaidi’s anticipated visit to Washington and his expected meeting with US President Donald Trump approach, a visit that many observers view as a pivotal moment in shaping the relationship between the new government and the US administration.

According to political sources who spoke to Shafaq News Agency, US envoy Tom Barrack discussed with al-Zaidi during his recent visit to Baghdad issues that go beyond the formation of the government or the distribution of positions, reaching the form of the Iraqi state during the next stage, the mechanisms for managing sovereign institutions, and strengthening the independence of government decision-making from traditional centers of influence.

According to the sources, there are understandings that led to the abolition of the positions of deputy prime ministers, as well as the exclusion of the “Ministry of Federal Security” project, which was proposed to include various security formations, including the Popular Mobilization Forces and armed factions.

Meanwhile, negotiations regarding the allocation of security ministries and some contentious portfolios are still ongoing, amid assurances that al-Zaydi is seeking to select technocratic figures, even if they enjoy the support of certain political forces, sources say.

But the road ahead for the prime minister does not appear entirely paved, as any change in the highest state positions necessarily means disrupting political balances that have accumulated over more than two decades, which makes any broad replacement process a real test of al-Zaydi’s ability to impose his will within a system of governance based on consensus, power-sharing, and the division of influence.

With the postponement of the meetings of the Coordination Framework forces until after the tenth of Muharram, the political forces seem to be waiting for the picture of the final understandings regarding the government formation and the expected changes to become clear, before determining the form of their position on the Al-Zaydi project.

Until then, the list of 100 names does not appear to be a "media show," but rather a title for a silent political battle taking place behind the scenes, which may redraw the centers of power within the Iraqi state, and reveal the extent to which al-Zaydi can turn promises of reform into reality, or remain within the limits of the balances that brought him to power.  link

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Tishwash:  Iraq returns to the "grey list"... International demand obliges Baghdad to implement a plan to combat money laundering

The Financial Action Task Force (FATF) announced on Friday that it has placed Iraq on its "grey list" of countries that require increased monitoring regarding their efforts to combat money laundering and financial crimes.

The group’s chair, Elisa de Anda Madrazo, said in a statement translated by Shafaq News Agency that “the group’s general meeting decided to add Iraq to the grey list, as there is still a need to take measures to address the risks associated with cash transactions, increase investigations related to money laundering and terrorist financing, and enhance the use of financial information.”

According to the statement, inclusion on the grey list means that the country in question is subject to enhanced monitoring by the Financial Action Task Force, and is required to implement a reform plan to address deficiencies in its anti-money laundering and counter-terrorism financing systems.

The decision comes at a time when the new Iraqi government is asserting that economic reform and combating corruption are key priorities for the next phase.

Iraqi Prime Minister Ali al-Zaidi had announced, since taking office last May, that rebuilding the Iraqi economy, attracting foreign investment, and fighting corruption would be among the main pillars of his government's program.

The Financial Action Task Force (FATF) announced in July 2018 that Iraq had been removed from the monitoring zone, due to the significant progress made by the Central Bank of Iraq and the Anti-Money Laundering and Counter-Terrorist Financing Office in improving and addressing shortcomings, and in fulfilling all its obligations towards the FATF recommendations and addressing the requirements of the anti-money laundering and counter-terrorist financing strategy prepared by the bank at that time.  link

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Tishwash:  The US Secretary of State will visit the Middle East next week.

The American news website Axios reported on Friday evening that US Secretary of State Marco Rubio intends to visit the Middle East next week.

According to the website, Rubio will visit the UAE, Kuwait and Bahrain during a Middle East tour next week.

Earlier today, Rubio, in a telephone call with Lebanese President Joseph Aoun, affirmed Washington’s support for the Lebanese government’s efforts to establish a sovereign state that lives in peace with its neighbors.

For his part, US President Donald Trump, in statements on Friday, specifically thanked the leaders of Saudi Arabia, Qatar and the UAE, stressing that Washington’s relations with the three countries are “great,” and praising the role played by the region’s capitals in supporting efforts to de-escalate tensions and engage in dialogue over the past months.

Last Wednesday, Trump and his Iranian counterpart, Masoud Pezeshkian, remotely signed a memorandum of understanding between the United States and Iran to end the war and open the Strait of Hormuz, in a move that preceded a ceremony that was scheduled to take place in Switzerland, and opened the door to broader negotiations on the nuclear issue and sanctions during a period of 60 days  link