Iraq Economic News and Points to Ponder Sunday Afternoon 1-12-25

Al-Mandlawi: The House Of Representatives Seeks To Resolve Controversial Laws And Enhance Oversight To Combat Corruption

Political | 12/01/2025  Mawazine News – Baghdad  The First Deputy Speaker of the Council of Representatives, Mohsen Al-Mandalawi, affirmed today, Sunday, the commitment of the Council Presidency to complete controversial laws during the coming period, calling on the representatives to intensify their oversight efforts to combat corruption and protect Iraq's capabilities.

Al-Mandalawi explained, in a statement issued by his media office and received by "Mawazine News", that the launch of the first legislative term of 2025 represents a decisive opportunity to improve the Council's performance in the areas of legislation and oversight. He stressed the importance of deciding laws that serve the people and achieve their aspirations.

He added that "the parliamentary committees have been directed to intensify their efforts to complete important draft laws, and activate the oversight role in a way that contributes to undermining opportunities for corruption and preserving Iraq's wealth." He also pointed to the need to enhance transparency by hosting officials to discuss challenges and find solutions to problems that hinder the implementation of public policies.

Al-Mandalawi stressed the importance of coordination with the executive authority to accelerate the completion of legislation that directly affects the lives of citizens, and to support the government in implementing its electoral program, while improving communication with citizens to convey their problems and follow up on their solutions effectively. https://www.mawazin.net/Details.aspx?jimare=258469

Currency Smuggling.. The Central Bank Punishes 10 Iraqi Banks Due To Violations Of Foreign Transfers
 
Today 14:14  Information/Baghdad… Representative Baqir Al-Saadi confirmed today, Sunday, that the 
Central Bank of Iraq issued sanctions against ten Iraqi banks due to violations related to the foreign transfer file, which has become a direct threat to the local economy.
 
Al-Saadi said, in a statement to the “Al-Ma’louma” Agency, that  “the file of smuggling hard currency outside Iraq is still a source of great concern, amid multiple question marks about the mechanisms for implementing these operations, especially with the continuing investigations into exchange offices and banks committing serious violations in foreign transfers.”. 

He added,  "The sanctions issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency outside the country." Al-Saadi pointed out that

  “currency smuggling
 
     has serious effects on the local economy, and
     causes an increase in financial crises in the country,” pointing out that
 
“most of the transfers that are made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the establishment of strict measures to stop this ongoing bleeding.”"

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new determinants and re-evaluating the tools used in financial transactions, with the importance of revealing the results of investigations to public opinion." Ended / 25F    
  
https://almaalomah.me/news/87949/economy/تهريب-العملة-المركزي-يعاقب-10-مصارف-عراقية-بسبب-مخالفات-الحو 

Financial Advisor: ASYCUDA System Boosts International Trade, Reduces Corruption At Customs Ports

Economy | 12/01/2025  Mawazine News –  Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Salih, stressed today, Sunday, the importance of adopting the "ASYCUDA" system in the Iraqi Customs Administration, pointing to its role in reducing delays at border crossings and enhancing international trade.

Salih explained that the ASYCUDA system, developed by the United Nations Conference on Trade and Development (UNCTAD) since the 1980s, relies on modern digital technology to simplify and accelerate customs operations.

He added that Iraq is implementing the second generation of this system, which relies on cloud technology to provide comprehensive automation of customs operations, including data recording, fee assessment, customs clearance, and records management.

He pointed out that the implementation of the system comes in line with the government program to enhance non-oil revenues to reach 20% of total public revenues, explaining that joint cooperation with the United Nations aims to improve customs control and collection systems and control import and export operations according to the best digital standards.

Saleh revealed that the General Authority of Customs and the Border Ports Authority completed the implementation of the system during the past year, while providing a high-quality digital infrastructure to develop customs work in 2025, stressing that this system contributes to reducing corruption by reducing human interaction and adopting full automation, which increases transparency and supports efficiency.

He explained that ASYCUDA enhances international trade by accelerating the customs clearance process and reducing administrative barriers, in addition to providing a comprehensive database that supports economic and trade policy-making, pointing to its role in improving border security by tracking and inspecting shipments more accurately to combat smuggling and illegal activities.

Saleh concluded by saying that ASYCUDA represents a vital tool for achieving a balance between facilitating trade and protecting borders, stressing that Iraq joins a group of Arab countries, such as Jordan, the Emirates, Saudi Arabia, and Egypt, that implement this system in customs ports in an integrated manner.   https://www.mawazin.net/Details.aspx?jimare=258464

Iraq Surpasses Saudi Arabia In Oil Exports To America

Energy  Economy News – Baghdad  The US Energy Information Administration announced today, Sunday, that Iraq has surpassed Saudi Arabia for the second week in a row in oil exports to the United States.

The administration stated, in a table reviewed by "Al-Eqtisad News", that "the average US imports of crude oil during the past week from 10 major countries amounted to 6.016 million barrels per day, an increase of 251 thousand barrels per day from the previous week, which amounted to 5.765 million barrels per day."

She added that "Iraq's oil exports to America reached 180 thousand barrels per day last week, down by 32 thousand barrels per day from the previous week, which reached 212 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached an average of 69 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 4.422 million barrels per day, followed by Mexico at an average of 392 thousand barrels per day, then Venezuela at 253 thousand barrels per day, and Brazil at 233 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Nigeria amounted to an average of 192 thousand barrels per day, from Ecuador 147 thousand barrels per day, from Colombia 72 thousand barrels per day, and from Libya 56 thousand barrels per day." 126 views  Added 01/12/2025 https://economy-news.net/content.php?id=51836

125 Billion Dinars Revenues Of The Iraqi Islamic Bank

Banks  Iraqi Islamic Bank announced its financial results for 2024, which showed positive performance in a number of key indicators, as assets rose to 2.65 trillion dinars compared to 2.2 trillion dinars in 2023, representing a growth of 20 percent.

Credit also witnessed a significant jump, reaching 934.9 billion dinars, compared to 637.5 billion dinars in the previous year, an increase of 46.6 percent.

In contrast, deposits declined to 751.2 billion dinars compared to 1.19 trillion dinars in 2023, a decrease of 37 percent, while revenues increased to record 175 billion dinars compared to 132.9 billion dinars, representing a growth of 31.6 percent, which was reflected in profits that reached 86.5 billion dinars after they were 76.6 billion dinars in 2023, an increase of 13 percent. 287 views  Added 2025/01/12 - 10:39 AM  https://economy-news.net/content.php?id=51841

Chinese Ambassador: $50 Billion Is The Volume Of Trade With Iraq And Dealing In Yuan Is In Its Initial Stages

Economy | 11:56 - 12/01/2025  Mawazine News – Baghdad    Chinese Ambassador Cui Wei confirmed today, Sunday, that the volume of trade cooperation with Iraq during 11 months reached 50 billion dollars, while he indicated that dealing in the yuan between the two countries is in its initial stages.  https://www.mawazin.net/Details.aspx?jimare=258455

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

Some “Iraq News” Posted by Clare at KTFA 1-12-2025

KTFA:

Clare:  Al-Sudani to pay official visit to UK tomorrow, Monday

 An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.

The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."

He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom.   link

Clare:  Trump's envoy on his way to Iraq.. A new message to Al-Sudani

1/11/2025

An informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying with him a message to Prime Minister Mohammed Shia al-Sudani.

According to the source, who spoke to Shafaq News Agency, "An American envoy is expected to arrive in Baghdad, carrying direct messages from Trump about the security of the region and Iraq's role in it."

The source explained that "the visit may be secret (not officially announced)," noting that the envoy will also discuss the details of Al-Sudani's recent visits, and Trump's vision according to the recent changes in the region.

An informed political source reported last week that the Iraqi Prime Minister received a message from US President-elect Donald Trump, via a special envoy on an unannounced visit, which included several axes .

According to the source, the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government .

Meanwhile, a government source told Shafaq News Agency that Iraq   is working diligently to establish security in the region, and that the Prime Minister presented Iraq's vision in this regard during a visit to Iran .

Al-Sudani had made numerous visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan, Saudi Arabia, and recently Iran, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States .  LINK

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Clare:  The Central Bank calls on banks to expand and expand ATM services and cash payment machines

1/12/2025 Baghdad - 

The Central Bank of Iraq called on banks, on Sunday, to expand the spread of cash delivery outlets through all available channels such as ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

Central Bank statement, as reported to 964 Network :

The Central Bank of Iraq works within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:

Click here  LINK

Clare: Central Bank of Iraq: We are working to provide ATMs in all regions

1/12/2025

The Central Bank of Iraq confirmed, on Sunday, that it is working to provide ATMs and cash payment machines, while indicating that it has directed all banks to spread their financial services in all regions.

The bank said in a statement received by Shafaq News Agency, "The Central Bank of Iraq is working within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices , as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

He added that "the Central Bank confirmed in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He pointed out that "the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously."  LINK

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Clare:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

 1/12/2025  Information/Baghdad…

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, "The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers."

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that "currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country," noting that "most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion."  LINK

The Center of the Next Meltdown

The Center of the Next Meltdown

Liberty and Finance:  1-11-2025

The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.

During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.

Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.

While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.

His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.

“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”

He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.

The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.

This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.

The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.

However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.

This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.

In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.

While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.

https://youtu.be/0q_Mc29Mxg8

Iraq Economic News and Points to Ponder Sunday AM 1-12-25

 Iraq's Missing Money...Dubai Is Indicted: Smuggling Is Still Continuing And Trump Is Coming 

Economy | Yesterday, | Baghdad today – Baghdad Representative Baqir Al-Saadi revealed today, Saturday (January 11, 2025), that  Dubai has become the largest point for smuggling Iraqi funds abroad, 
pointing out the involvement of individuals, money changers, and banks in these operations. Al-Saadi said in an interview with "Baghdad Today",

 "The smuggling of money from Iraq is still continuing in various forms, whether by  individuals or
 banking companies, in addition to the involvement of   some banks that use remittances as a means of transferring money in a way that raises major question marks."

He added, "Dubai has become the largest destination for this money, with clear indicators observed during the recent period confirming the involvement of some banks in facilitating smuggling operations." Al-Saadi confirmed that
 
“the Iraqi Parliament, through its oversight duties, is following up on many files related to this matter, some of which are under investigation in coordination with the competent regulatory authorities,” noting that
 
“the Central Bank of Iraq suspended the activity of 10 banks due to suspicions about smuggling money outside the country in illegal ways.” Comply with established instructions and controls. Al-Saadi explained,
 
"The money smuggling file is very complex, despite a series of measures taken by the Central Bank, including coordination with the US Treasury Department, which imposed sanctions on some of the banks involved." He pointed out that
 
"smuggling operations depend on complex routes and routes, which makes controlling them a major challenge," stressing that
 
"there are important investigations underway that may yield tangible results during the coming period." Al-Saadi concluded by saying,
 
"Efforts are continuing to uncover the facts and hold those involved accountable, but 
combating this thorny issue requires more time and strict measures."
 
It is noteworthy that US President-elect, Donald Trump, has stated more than once that he will deal firmly with the issue of protecting the dollar in the world, especially with countries that have admitted their involvement in currency smuggling and money laundering, such as
 
Iraq, which the Trump team believes tolerates currency and oil smuggling operations.    
  
https://baghdadtoday.news/265657-أموال-العراق-المفقودة.-دبي-في-دائرة-الاتهام-التهريب-لايزال-مستمرا-وترامب-قادم.html

International Banking Day

Economical 01/12/2025  Muhammad Sharif Abu Maysam  At the end of the year 2019, the United Nations approved International Banking Day, which is held on December 4 of each year. According to its organizers,
 
it aims to shed light on the important role that banks play in financing sustainable development, by providing financing, technical advice, and assistance in implementing projects.
 
Which promotes poverty eradication, reducing inequality and combating climate change.
 
Based on this goal, the following question can be asked:
 
     Have they contributed, and
 
     do local banks contribute, to financing sustainable development, and
 
     what are their contribution rates in implementing projects that promote the eradication of poverty and the reduction of inequality in light of the total of their capital, deposits and reserves?
 
Did it exercise the role for which it was found after its capital had matured by establishing this role through overnight investment and the currency auction, from ten billion dinars according to Iraqi Banking Law No. 94 of 2004 to about 450 billion dinars, as in the instructions of the Central Bank, which recently stipulated this minimum ceiling for the work of any... A bank in the Iraqi banking arena by the end of this month
 
Meaning that the bank that started with ten billion dinars in the years following 2004 has or will have 450 billion dinars at the end of this month, otherwise it will be subject to merger or cancellation, and
 
this is thanks to the monetary policy that was followed in order to support the Iraqi banking sector and make it a sector qualified to deal with... International banks and banking according to what the global banking industry has reached, and in a way that makes it capable of introducing modern banking technologies and programs to complete financial exchanges and trades with countries of the world.
 
In return, what is required of local banks to offer now in light of the economic transformations the country is witnessing?
 
“Governmental and private” banks have made an effective contribution to turning the wheel of the economy over the past years, despite the many comments surrounding their work,
 
but some of these banks did not live up to the level of support they received, and 
others were preoccupied with achieving more profits at the expense of their development duties.

This is evident in the movement of money that flows through the daily currency auction with the aim of achieving more profits under the pretext of financing foreign trade in exchange for lower credit rates, which indicates the desired goal of creating these banking institutions whenever their rates rise.
 
While the deposit rates of many of these banks are declining due to the lack of attention to the  
focus of attracting customers and restoring confidence with the public, with the aim of
 
     withdrawing the cash mass and
     circulating it in credit operations, and then
     contributing to development processes,
     promoting the eradication of poverty, and
     reducing inequality, and   this is what is required.    https://alsabaah.iq/108366-.html 

Expectations For The Performance Of The Largest Arab Economies In 2025.. What About Iraq? 

2025-01-10 | Source: Al Jazeera Net  1,780 views  Alsumaria News - Economy A state of economic uncertainty continues in the world, including Arab countries , but there is optimism about economic performance in 2025 compared to last year, according to the expectations of the International Monetary Fund and the World Bank.
 
Last April, the IMF warned of “the increasingly prevailing state of uncertainty in light of the
 
     ongoing conflicts, the
     disruption of shipping traffic, and the
     decline in oil production,” and thus
 
“an uneven recovery has begun to emerge, with the pace of growth varying this year across East the Middle and Central Asia.”.
 
Last October, the World Bank published its “Economic Observatory for the Middle East and North Africa” report, which included expectations for GDP growth for countries in the region in 2025, in addition to many other indicators.
 
In terms of numbers, specialized websites collected the forecasts of the two international institutions and were as follows:
 
Saudi Arabia
 
Expectations of real GDP growth in the Kingdom for the year 2025 were 4.9%, compared to 1.6% in 2024, compared to a contraction of 0.8% in 2023, and compared to a growth of 7.5% in 2022.

As for the growth expectations of real GDP per capita for the year 2025, it was 3.5%, compared to 0.2% in 2024, compared to a contraction of 2.2% in 2023, and compared to a growth of 6.1% in 2022.
 
The World Bank's inflation forecast was 2.3% in 2025, compared to 2.1% in 2024.
 
The bank added, " Saudi Arabia is suffering from a public finance deficit, and it is expected that the deficit in the Kingdom will remain stable at 2% of GDP due to the decline in oil revenues and the expansionary public finance policy."
 
Qatar
 
Real GDP growth expectations in Qatar for 2025 reached 2.7%, compared to 2% in 2024, 1.2% in 2023, and 4.2% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 1.2%, compared to 2.3% in 2024, compared to a contraction of 3.1% in 2023, and compared to a contraction of 4.5% in 2022.
 
The World Bank’s expectations for the public finance balance of GDP for the year 2025 were 4.6%, compared to 4.2% in 2024, 5.6% in 2023, and 10.4% in 2022.
 
The report expected inflation in 2025 to reach 1.9%, compared to 1.3% in 2024.
 
Egypt
 
The World Bank expects the real GDP growth rate for the year 2025 at 3.5%, compared to 2.5% in 2024, 3.8% in 2023, and 6.6% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 1.9%, compared to 0.9% in 2024, 2.2% in 2023, and 4.9% in 2022.
 
The World Bank’s expectations for the proportion of the public finance balance to GDP in 2025 were about -7%, compared to -3.6% in 2024, -6% in 2023, and -6.2% in 2022.
 
The report expected inflation in 2025 to reach 17.2%, compared to 33.6% in 2024.

Morocco
 
Real GDP growth expectations in Morocco for 2025 were at 3.9%, compared to 2.9% in 2024, 3.4% in 2023, and 1.5% in 2022.
 
Expectations of real GDP per capita growth in 2025 were 2.9%, compared to 1.9% in 2024, 2.4% in 2023, and 0.5% in 2022.
 
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -3.8%, compared to -4.2% in 2024, -4.4% in 2023, and -5.4% in 2022.
 
The report expected inflation in 2025 to reach 2.7%, compared to 1.5% in 2024.
 
Algeria
 
Real GDP growth expectations in Algeria for the year 2025 were at 3.8%, compared to 3.1% in 2024, 4.1% in 2023, and 3.6% in 2022.
 
Regarding the growth expectations of real GDP per capita for the year 2025, it was at the level of 2.4%, compared to 1.6% in 2024, 2.5% in 2023, and 1.9% in 2022.
 
The World Bank’s expectations for the proportion of the public finance balance to GDP were -9.9% for the year 2025, compared to -9.8% for the year 2024, -5.2% for the year 2023, and -3% for the year 2022.
 
The report expected inflation in 2025 to reach 4.9%, compared to 4% in 2024.
 
The UAE
 
Real GDP growth expectations in the UAE for the year 2025 were at 4.1%, compared to 3.3% in 2024, 3.2% in 2023, and 7.9% in 2022.
 
Growth expectations for real GDP per capita in 2025 were 3.4%, compared to 2.5% in 2024, 2.4% in 2023, and 7% in 2022.
 
The World Bank's expectations for the proportion of public finance balance to GDP in 2025 were 4.7%, compared to 4.9% in 2024, 5.1% in 2023, and 10.8% in 2022.
 
The report expected inflation in 2025 to reach 2.1%, compared to 2.2% in 2024.
 
Jordan
 
Real GDP growth expectations in Jordan for the year 2025 were at 2.6%, compared to 2.4% in 2024, 2.7% in 2023, and 2.6% in 2022.
 
Growth expectations for real GDP per capita in 2025 were 2.1%, compared to 1.9% in 2024, 2.2% in 2023, and 1.4% in 2022.
 
According to the World Bank’s expectations for the proportion of the public finance balance to GDP in 2025, it is likely to be -5%, compared to -5.3% in 2024, -5.1% in 2023, and -5.6% in 2022.
 
The report expected inflation in 2025 to reach 2.2%, compared to 2% in 2024.
 
Iraq
 
Real GDP growth expectations in Iraq for 2025 were 4%, compared to -0.9% in 2024, -2.9% in 2023, and 4.7% in 2022.
 
The World Bank expects the growth of real GDP per capita in 2025 to be 1.7%, compared to a contraction of 3% in 2024, a contraction of 5.1% in 2023, and a contraction of 2.4% in 2022.
 
The World Bank’s expectations for the proportion of public finance balance to GDP in 2025 were -7.4%, compared to -5.3% in 2024, 0.9% in 2023, and 14.1% in 2022.

The report expected inflation in 2025 to reach 3.3%, compared to 3.7% in 2024.    
  
https://www.alsumaria.tv/news/economy/512427/توقعات-أداء-أكبر-الاقتصادات-العربية-في-2025-ماذا-عن-العراق؟ 

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 1-12-25

Good Morning Dinar Recaps,

BRICS PAY: IS 2025 NOW OR NEVER FOR ALLIANCE PAYMENT SYSTEM?
Despite the project first being announced as part of the 2024 summit, BRICS Pay has failed to make a significant impact as 2025 arrives. With the economic alliance continuing its de-dollarization efforts and US President-elect Donald Trump issuing a start 100% tariff warning, it appears like it may be now or never for the payment system.

For the past two years, the bloc has sought alternative payment methods to help defend against Western economic dominance and imposed sanctions. 

Although BRICS has made some progress, it certainly has not been able to challenge the US dollar in any significant way. Now, all eyes are on the importance of 2025 for one of its most important economic plans.

BRICS Pay Faces Critical Year Amid Rising Geopolitical Turmoil

For the last two years, the BRICS bloc has mobilized in a way that has sent ripples through the globe. First formed in 2001, the bloc expanded for the first time in 2023. Now, two years later, it has already doubled its member count while welcoming a secondary tier of partner nations.

However, although its presence has grown, so too have its challengers. With the incoming presidential administration not content to allow the bloc to grow unchecked, the BRICS Pay platform and the group’s de-dollarization efforts look like they’re now or never entering 2025.

US President-elect Donald Trump has recently issued 100% tariff threats on the BRICS alliance specifically. This has greatly affected the bloc and its growth prospects.

 Although the previous administration allowed its efforts to go unchecked, nations seeking to join the group must now grapple with concerns regarding Western retaliation.

Moreover, for all that BRICS has attempted over the last year, the US dollar remains unchallenged. More importantly, it has emerged stronger compared to a plethora of alliance currencies. The greenback has appreciated more than 5% since the start of the year, with the Chinese yuan and Indian rupee falling significantly since the start of the year.

Ultimately, the BRICS Pay platform was the alliance’s “step towards a multipolar global economy,” Ramesh Vaidyanathan of the IBA Asia Pacific Regional Forum said. “It could also increase competition between the Western and Eastern economic models, with long-term geopolitical implications,” he warned.

Altogether, BRICS Pay has thus far failed to live up to expectations. With Donald Trump eager to protect the greenback, its road to de-dollarization looks more treacherous than ever. It is now or never for the alliance payment system, indeed.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE’S $100,000,000 RLUSD MILESTONE SIGNALS STRONG 2025 OUTLOOK FOR XRP

▪️Ripple's RLUSD stablecoin sees $100M+ daily volume, aiming to dominate DeFi and global payments in 2025.

▪️Ripple's liquidity-driven RLUSD strategy focuses on DeFi, tokenization, and partnerships for rapid adoption.

Ripple has launched its new stablecoin, RLUSD, which is already seeing impressive trading volumes of over $100 million daily. Many are curious about how this move will impact XRP, and here’s what Austin, a former Ripple employee and co-founder of Omni Network, shared about Ripple’s strategy moving forward.

“Liquidity is a flywheel. The more trading activity an asset has, the more incentivized other exchanges will be to integrate that asset. This idea is foundational to every initiative driven by Ripple. How are they applying this concept to their $RLUSD strategy?”, he wrote on social media.

Ripple’s RLUSD Strategy Revealed

Austin King, who previously worked closely with Ripple’s co-founder David Schwartz shared details on Ripple’s approach to RLUSD.

According to him, Ripple’s strategy is focused on driving adoption of RLUSD using a liquidity-driven model. The more trading activity RLUSD generates, the more exchanges and traditional finance companies will be incentivized to integrate it.

Key Pillars of Ripple’s RLUSD Strategy

Liquidity Hub and Tokenization: Ripple aims to make RLUSD the go-to asset for real-world asset tokenization and liquidity. This will be critical for onboarding traditional finance companies, positioning RLUSD as a central hub in the financial ecosystem.

DeFi Dominance: Ripple plans to integrate RLUSD into decentralized finance (DeFi) protocols, including lending platforms, decentralized exchanges, and derivatives. The recent partnership with Chainlink to bring RLUSD to Ethereum-based DeFi protocols marks a significant step in this direction.

Leveraging Existing Partnerships: Ripple has a strong network of banks and fintechs through RippleNet. This existing infrastructure will be used to drive RLUSD adoption, making it easier for Ripple to introduce the stablecoin to its partners.

Austin believes that 2025 is set to be a huge growth year for Ripple and RLUSD, with stablecoins playing a central role in global payments.

FAQs

What is Ripple’s RLUSD stablecoin?
Ripple’s RLUSD is a stablecoin focused on liquidity-driven adoption, aiming to integrate into DeFi and traditional finance for tokenization.

Will RLUSD use XRP?
RLUSD may leverage XRP’s liquidity and Ripple’s infrastructure, enhancing cross-border payments and driving adoption through RippleNet.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

NORTH DAKOTA EYES CRYPTO FOR TREASURY: COULD BITCOIN BE INCLUDED?

▪️North Dakota joins New Hampshire in exploring crypto investments for state reserves, aiming to diversify assets and combat inflation.

▪️Bitcoin’s market dominance positions it as a prime candidate, while tech-neutral policies reduce political resistance in crypto legislation.

@ Newshounds News™

Read more:  Crypto News Flash 

~~~~~~~~~

OKLAHOMA SENATOR PUSHES BITCOIN FREEDOM ACT FOR BTC PAYMENTS

▪️Oklahoma passed the Bitcoin Freedom Act, which permits state employees, businesses, and residents to make or receive payments in Bitcoin.

▪️The bill also provides for the voluntary acceptance of Bitcoin payments and some exemptions for digital asset companies from licensing.

@ Newshounds News™

Read more:  Crypto News Flash

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

“Tidbits From TNT” Sunday Morning 1-12-2025

TNT:

Tishwash:  Economist: The Central Bank’s policy is moving towards globalizing Iraqi banks

Economic expert "Safwan Qusay" confirmed that the Central Bank's policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally.

Qusay said in an interview: "The Central Bank's policy is moving towards consolidating the issue of globalizing Iraqi banks, and the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks."

He added that "these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world, and there is a possibility to develop the performance of other banks in order to succeed in the international acceptance process, and there is still a possibility to import capital from different countries of the world and re-inject it into the local environment in the form of grants in different investment portfolios, and thus the possibility of achieving the goals of the Central Bank in the matter of development."

He pointed out that "the Central Bank will move from the issue of accepting local banks internationally to the issue of participating in the development process, and this will certainly contribute to achieving part of the government program's goals in employing the unemployed, and in forming productive Iraqi capital, especially since a portion of Iraqis own Iraqi dinars outside the banking system, and whenever we start the issue of convincing them to trust Iraqi banks, we will have new doors to operate this monetary mass."

He stressed that this step will contribute to raising the status of Iraqi banks globally, "meaning that they will succeed in the process of having a name in international financial transfer operations, and gradually confidence between banks will be strengthened, and there is what is called credit cover between Iraqi banks and international banks, and the level of confidence will be reflected in the credit cover."

He pointed out, "Whenever there are transfers and coverage at acceptable credit levels, this level may rise so that we succeed in the process of having Iraqi banks that are accepted internationally - and this is a step that does not exist - as Iraqi banks, especially public ones such as Rafidain and Rashid, have withdrawn from international financial transfers since the eighties of the last century."

Pointing out that "rehabilitating these banks, especially TPI Bank, can contribute to our having international acceptance for international correspondents for these banks." link

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

Tishwash:  2025 budget is on the verge of legislation, and delaying the schedules will not stop the decision

Jamal Kojer, a member of the Finance Committee in Parliament, confirmed today, Saturday, that the 2025 budget schedules have not reached Parliament yet, but he stressed that the budget will be legislated during the current legislative session.

Kocher explained in a statement to {Euphrates News} that "the delay in the arrival of the tables will not affect the course of the budget legislation, indicating that the next legislative session will be quieter due to the preoccupation of the representatives with the elections, which will reduce their attendance at the sessions."

It is noteworthy that the financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government sends the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year.

He added that the Ministry of Finance has announced that it is in the process of preparing the general budget schedules for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Triennial Budget Law.

Saleh noted that the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, in a way that ensures that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024. link

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

Tishwash:  Salaries are secured and a committee is following up on Kurdistan’s dues.. Details of hosting Taif Sami in Parliament

On Saturday, January 11, 2025, the head of the Finance Committee, Atwan Al-Atwani, revealed the details of hosting the Minister of Finance, Taif Sami, within the committee, while indicating that the minister confirmed securing the salaries of employees during 2025 .

Al-Atwani said in a press statement followed by the "Al-Jabal" platform, "Minister of Finance Taif Sami confirmed during her hosting within the Parliamentary Finance Committee that employees' salaries are secured through 2025."

He added, "We have formed a subcommittee to follow up on the Kurdistan Region's dues for the years 2024-2025," adding, "The committee will submit its report in the next Monday's session regarding amending Article 12 / Second / Paragraph C of the General Budget Law."

Earlier today, the Iraqi Parliament's Finance Committee held a meeting, hosting Iraqi Finance Minister Taif Sami, to discuss the issue of amending the country's general budget law and securing employees' salaries.

A source from within the parliamentary finance committee previously told Al-Jebel platform that “this meeting (with the Minister of Finance) was supposed to be held before the legislative recess, but the travel of senior officials from the Iraqi Ministry of Finance prevented that,” adding that “the finance committee will collect all information related to the subject during the meeting to later submit it to the Speaker of Parliament.” 

The Parliamentary Committee hosted the Minister at the Parliament headquarters to discuss with her the issue of amending the General Budget Law, which the Parliament is scheduled to conduct its first reading of next Monday, and securing the salaries of public sector employees for the year 2025.

The Iraqi Parliament is scheduled to hold a session on Monday, January 13, to discuss and read a set of proposed draft laws, including an amendment to the provisions of Iraq’s General Budget Law No. 13 of 2023.

The aforementioned amendment is related to the resumption of oil exports from the Kurdistan Region abroad.

Member of the Parliamentary Oil and Gas Committee, Sabah Subhi Haider, had previously stated to the Mountain Platform, “We conducted the first reading of the amendment and all that remains is the second reading and voting on it. All expectations are moving towards an agreement, and there is a political agreement as well as an international and regional agreement on the necessity of re-exporting Kurdistan’s oil at a rate of 400,000 barrels per day.”

He added, "The order to resume oil exports from the Kurdistan Region is still in place, through amending (Article 12, Paragraph/Second C) in General Budget Law No. 13 of 2023."

Oil exports from the Kurdistan Region to abroad via the Turkish port of Ceyhan were halted in March 2023, after the International Court of Arbitration in Paris issued a decision to adjudicate a lawsuit filed by Iraq against Turkey regarding (the illegality of exporting Iraqi oil from the port of Ceyhan without coordination with the Iraqi SOMO Company). According to official statements by officials, the losses of Iraq and the Kurdistan Region from stopping the export process exceeded $20 billion since last year. link

 *************

Mot:  Legends Say that Hummingbirds ----

Mot: . I Figured It Out!!! 

Iraq Economic News and Points to Ponder Saturday Afternoon 1-11-25

 Economist: Electronic Financial Dealing Saves Iraq From The Scarcity Of Cash 

January 9 09:42  Information / Baghdad...  Economic affairs researcher Diaa Abdel Karim said on Thursday that the  shift towards electronic financial dealings and generalizing this to all government and private transactions will save the country from the scarcity of cash liquidity.

Abdel Karim told Al-Maalouma,  “Most of the countries of the world, and Europe in particular, have moved towards electronic financial dealing, so that society has created a culture of dealing with electronic cards in buying and selling in various sectors, and even with the decline of their economy, they will not suffer financially because their financial dealings are electronic".

 He added, "These transactions make it unnecessary for governments to print currency continuously, as this process is financially expensive, and
 
Iraq prints some denominations at home and other denominations of cash are printed abroad, and their
printing costs the financial value of this currency." He stated that
 
"the trend towards electronic dealing needs intensive education so that the cash mass is withdrawn from the street and dealing, especially with large sums, is transformed through electronic cards.
 
Thus, the citizen will not be forced to withdraw large sums of money from banks in order to buy a property or a car, etc., but rather will use His card in order to transfer money to the other party, which ensures the safety of financial dealings and does not waste the cash mass and remove it from the banking framework.” End25n    
  
https://almaalomah.me/news/87668/economy/اقتصادي:-التعامل-المالي-الالكتروني-ينقذ-العراق-من-شح-السيولة  

Economist: Electronic Financial Dealing Saves Iraq From The Scarcity Of Cash
 
    January 9 09:42  Information / Baghdad...  Economic affairs researcher Diaa Abdel Karim said on Thursday that the  shift towards electronic financial dealings and generalizing this to all government and private transactions will save the country from the scarcity of cash liquidity.

Abdel Karim told Al-Maalouma,    “Most of the countries of the world, and Europe in particular, have moved towards electronic financial dealing, so that society has created a culture of dealing with electronic cards in buying and selling in various sectors, and even with the decline of their economy, they will not suffer financially because their financial dealings are electronic"

 He added,  "These transactions make it unnecessary for governments to print currency continuously, as this process is financially expensive, and
 
Iraq prints some denominations at home and other denominations of cash are printed abroad, and their 
printing costs the financial value of this currency." He stated that
 
"the trend towards electronic dealing needs intensive education so that the cash mass is withdrawn from the street and dealing, especially with large sums, is transformed through electronic cards.
 
Thus, the citizen will not be forced to withdraw large sums of money from banks in order to buy a property or a car, etc., but rather will use His card in order to transfer money to the other party, which ensures the safety of financial dealings and does not waste the cash mass and remove it from the banking framework.” End25n    
  
https://almaalomah.me/news/87668/economy/اقتصادي:-التعامل-المالي-الالكتروني-ينقذ-العراق-من-شح-السيولة  

The Central Bank Of Iraq Sets The Rates For Banking Operations For Banks (Documents)
 
January 9, 2025  Baghdad/Iraq Observer
 
The Central Bank of Iraq set the rates for private banks’ operations.
 
Below are the documents:    
 
https://observeriraq.net/wp-content/uploads/2025/01/01379763-0096-4410-8a42-d375d4987b10.jpeg

https://observeriraq.net/wp-content/uploads/2025/01/e3cf277e-53ed-4598-a43c-ec42beb734cc.jpeg
  
https://observeriraq.net/البنك-المركزي-العراقي-يحدد-للمصارف-اس/    
 
 ~~~~~~~~~~
 
[approximate and incomplete translation of the two documents]
 
DATE: 2025/1/7  To/ all private banking banks
 
And/ banking price schedule
 
I look at the tables of the bank's banking processes
Prices and wages are available from you in exchange for providing Egyptian products and services for audiences and we take the opportunity to confirm some
The fundamental issues related to the protection of the public took into account the decision of the Board of Directors of feeding! Bank No. (7117) for 74 "1".
 
Gall The following:
 
«It is the responsibility of banks to adopt a reasonable pricing policy.
To provide digital services and products; In order to ensure raising levels
It is equal to all parties and is far from any prejudice or exaggeration with the rights of the vicinity.
 
2. The bank should mean displaying the commission, wage price and fees for the services and products it provides
For his Zayya »clearly, briefly, easy to understand, misleading, and announced in a way that can be accessed without color
And it will be coded at least on the official website of the bank and digital screens installed in the bank's halls
For customers ’waiting in all its branches, affiliated offices, entities and mobile applications
(Mobile Banking).

3. The bank does not have the right to require the customer to deposit a mamm to open the bank account, impose fees, wages, or deduction Shly the shape of the shapes to fulfill the lower lower backbone of the client. We are entitled to Egypt. Relationship of the account in
If the reckoning balance (zero) is the condition of notifying the Zion before the periods of not decreasing. (60) Days
 
https://observeriraq.net/wp-content/uploads/2025/01/01379763-0096-4410-8a42-d375d4987b10.jpeg
 
4. All private banks must formulate their unified banking price schedule annually
And presented it to this bank at a later date of December of each year, to be compatible with the upper limits
For the proportions specified in the schedule below and the inspection bodies of this bank will follow up on banks ’commitment to that
 
TABLE, in Arabic, TITLED
‘The Upper Ceilings For Banking And Banking Products’
 
We hope to take what is necessary from you and take into account what is mentioned in it when formulating the tables of banking prices
For your banks and to ensure adherence to it ... with appreciation.
 
https://observeriraq.net/wp-content/uploads/2025/01/e3cf277e-53ed-4598-a43c-ec42beb734cc.jpeg
  
https://observeriraq.net/البنك-المركزي-العراقي-يحدد-للمصارف-اس/ 

An Expert Calls For Diversifying Exports Of Extractive Goods Instead Of Relying On Petroleum Ones
 
January 11, 2025  Baghdad/Iraq Observer   Countries depend on their income in foreign currencies from one of the following sources:
 
     exports of goods and services,
     foreign direct investment,
     visitors coming from various countries,
     expatriates who transfer part of their money to their countries, and
     revenues from foreign investments generated by local institutions or persons outside the countries.
 

The head of the Future Iraq Center for Economic Studies and Consultations, Manar Al-Obaidi, stated that
 
although Iraq has
 
     investment opportunities and the
     ability to attract visitors and a number of
     Iraqi expatriates outside Iraq, and
     thousands of Iraqis own investments in various countries,
 
the state was unable to
 
     encourage all of these sectors to create foreign currency revenues and continued. To try to
     increase foreign exchange from sales of one commodity, which is oil. Al-Obaidi added during his speech to the Iraq Observer,
 
 “Iraq’s budget is based on the quantity of oil sold and the price of a barrel of oil,” wondering,
 
“Isn’t it time to try to increase foreign investments, of which more than 18 billion dollars have fled outside Iraq, according to World Bank data?” He continued,
 
"Isn't it time to
 
     encourage investments in extractive projects to
     diversify exports of extractive goods instead of exporting one commodity, which is oil, and to
     encourage exports of local industrial projects and
     adopt a clear export policy for various countries near and far?"  Al-Obaidi continues, asking,
 
“Isn’t it time to
 
     regulate the entry of tourists and

     try to benefit from their presence in Iraq and

     increase their spending in a way that creates other revenue for the Iraqi state by
 
    encouraging religious tourism from the countries with the highest income and therefore the highest spending instead of relying on a poor country to attract tourists, as well as

     establishing the Iraqi Ministry of Expatriates?”

     To communicate with Iraqi expatriates to encourage them to return to their countries and transfer part of their foreign investments to Iraq to contribute to creating income in foreign currencies.” He called for the
 
need to
 
     benefit from thousands of Iraqi cadres capable of selling their services to various companies in various countries of the world, through a remote work system, to provide income in foreign currencies, as well as to
 
     establish external investment funds that create a real return that contributes to supplying the profits of these funds as foreign currency into the country.
 
The economic expert calls on the government to abandon oil wealth and think about solutions outside the box, as the  oil era has ended and discussions about the timing of its end have begun.    
  
https://observeriraq.net/خبير-يدعو-الى-تنويع-صادرات-السلع-الاست/    

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 1-11-25

Good Afternoon Dinar Recaps,

RIPPLE'S RLUSD EXPANSION PLANS UNVEILED FOR MAJOR EXCHANGES, INCLUDING COINBASE LISTING STRATEGY

Ripple’s newly launched U.S. dollar-pegged stablecoin, RLUSD, is gaining momentum following its debut on Ethereum and the XRP Ledger last month.

Approved by the New York State Department of Financial Services (NYDFS), RLUSD has already been listed on Bitstamp, and Ripple is now in discussions with major exchanges like Coinbase to broaden its availability.

Jack McDonald, Ripple’s Senior Vice President of Stablecoins, outlined the technical and strategic challenges of exchange listings during an interview. 

“It’s not just a handshake agreement,” he explained, emphasizing the need for exchanges to adapt to different blockchain protocols. Ripple’s CTO, David Schwartz, hinted at eventual expansion to additional networks, further increasing the stablecoin’s reach.  

Challenges in securing listings with major exchanges

Despite Ripple’s approval from NYDFS providing a regulatory edge, McDonald acknowledged the complexities of securing support from major exchanges like Coinbase and Binance, which often maintain exclusivity with certain stablecoins.

For instance, Coinbase’s close partnership with Circle’s USDC presents challenges, though McDonald believes Coinbase might gradually diversify its stablecoin offerings.  

Volume and demand are also critical factors. Exchanges assess the cost-benefit of listing new assets, considering both technical integration and the ongoing support required. “They want to make sure that there is demand for it,” McDonald noted.  

Looking ahead, McDonald predicts that institutional-backed issuers with strong compliance frameworks will dominate the stablecoin market. Smaller players may struggle to meet regulatory costs, leading to a consolidation of market share among established names. Liquidity, regulatory approval, and institutional relationships are likely to play pivotal roles in determining market leaders.  

Ripple’s focus on robust compliance and institutional support positions RLUSD as a key player in this evolving landscape, with further listings expected to drive adoption in 2025.  

In addition, Ripple collaborates with Chainlink to improve RLUSD adoption

@ Newshounds News™

Source:  Traders Union

~~~~~~~~~

XRP LEGAL BATTLE BEGINS ON WEDNESDAY

The SEC, the US Securities and Exchange Commission, has until January 15, 2025, to submit its initial brief on the Ripple case. The court had previously decided that XRP was not a security in and of itself when the appeal was filed.

The financial watchdog contesting some of the ruling’s findings, including how Ripple’s XRP sales on cryptocurrency exchanges and the private XRP sales of Chris Larsen and Brad Garlinghouse, two of the company’s executives, should be categorized. The upcoming brief will most likely revolve around those arguments.

SEC chair Gensler, who has spearheaded the agency’s vigorous targeting of the cryptocurrency sector, will resign on January 20. Donald Trump, the president-elect, will take office on the 20th.

Gary Gensler will be replaced as SEC Chair by Paul Atkins, suggesting possible adjustments to the agency’s stance on crypto regulation. The case may likely be resolved given Gensler’s departure.

Media reports predict that the SEC may cut back on or drop some crypto lawsuits. The SEC may instead prefer settlements, also known as “consent decrees,” which provide industry clarity and permit negotiated resolutions.

These settlements may help the industry meet regulatory requirements without completely abandoning cases by encouraging the SEC to create more precise guidelines and regulations.

Brad Garlinghouse, the CEO of Ripple, voiced optimism, pointing out that Atkins could “bring common sense back to the agency.” “XRP may solidify its non-security status and possibly start a bullish price trend if the SEC withdraws its appeal as a result of this leadership change.

@ Newshounds News™

Source:  FX Leaders

~~~~~~~~~

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FED Pivot Is DEAD: NO Interest Rate Cuts in 2025 as Economy Adds 256,000, Exceeding Expectations

FED Pivot Is DEAD: NO Interest Rate Cuts in 2025 as Economy Adds 256,000, Exceeding Expectations

Lena Petrova:  1-11-2025

The much-anticipated “pivot” by the Federal Reserve – the shift from aggressive interest rate hikes to potential cuts – appears to be firmly off the table, at least for 2025.

This conclusion comes hot on the heels of a robust jobs report that far exceeded expectations, adding 256,000 jobs to the U.S. economy. The data paints a picture of a labor market that remains surprisingly resilient, potentially dashing hopes for a change in monetary policy aimed at easing the pain of high borrowing costs.

For months, investors and economists have been parsing every piece of economic data, searching for signs that the Fed would soon begin to lower interest rates. The logic was straightforward: inflation had begun to cool, and the cumulative effect of prior rate hikes would eventually lead to a slowdown in economic activity, prompting the central bank to ease its grip. However, the latest employment figures throw a significant wrench into these expectations.

The unexpectedly strong job growth isn’t just a number; it’s a signal that the economy is still running hot. With more people employed, the potential for increased consumer spending and continued inflationary pressures remains very real. This puts the Federal Reserve in a precarious position.

 Their primary mandate is to ensure price stability and promote maximum employment. While employment is clearly strong, inflation, while lower than its peak, is still above the Fed’s target of 2%.

The Federal Reserve’s next move will largely depend on upcoming inflation data. If inflation remains stubbornly high despite the strong jobs market, the Fed will likely maintain its current stance. However, a noticeable cooling in inflation could still open the door for rate cuts, albeit later than previously anticipated.

The focus now shifts to subsequent economic reports.

As the Fed continues to monitor the economic landscape, investors and analysts will be closely scrutinizing inflation data, consumer spending figures, and any further shifts in the labor market. The narrative of a quick pivot, it appears, has been replaced by a more cautious and data-dependent approach.

While the strong employment numbers are a positive sign for the labor force, they present a new challenge for the Federal Reserve in their fight to curb inflation. The economic path forward remains uncertain, but one thing is now clear: the prospect of interest rate cuts in 2025 is far from guaranteed.

https://www.youtube.com/watch?v=iwBGFL8tRSg

Seeds of Wisdom RV and Economic Updates Saturday Morning 1-11-25

Good Morning Dinar Recaps,

NEW HOUSE FINANCIAL SERVICES LEADERSHIP TARGETS DIGITAL ASSET REGULATION

The House Financial Services Committee has chosen leadership with an eye toward digital asset regulation.

Rep. French Hill (R-Ark.) announced the new appointments Thursday (Jan. 9), promising to “right-size the regulatory system for particularly community banks,” and “create a regulatory framework for digital assets that will protect investors and consumers.”

In addition, Hill said the committee would “ensure agencies are focused on their core statutory directed missions” and not political agendas.

The committee’s vice chairman — a position held by Hill in the last term — will be Rep. Bill Huizenga (R-Mich.). In addition, Hill said, Rep. Mike Lawler (R-N.Y.) will serve as vice chair for communications, and Rep. Mike Haridopolos (R-Fla.) will be committee whip, the latter to “ensure our Republicans are working together toward our common goal.”

In addition, the committee has announced chairs for its various subcommittees, including: Rep. Ann Wagner (R-Maine), Capital Markets; Rep. Andy Barr (R-Ky.), Financial Institutions; Rep. Bryan Steil (R-Wis.), Digital Assets, Financial Technology and Artificial Intelligence.

Rep. Warren Davidson (R-Ohio) was named chair of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, with Rep. Dan Meuser (R-PA) overseeing the Subcommittee on Oversight and Investigations. Lastly, the Subcommittee on Housing and Insurance will be chaired by Nebraska Republican Rep. Mike Flood.

As PYMNTS wrote earlier this week in a look at the upcoming legislative session, there have been a number of attempts at laws to create frameworks around digital asset markets.

For example, the Financial Innovation and Technology for the 21st Century Act was passed by the House but not the Senate. The act would, among other things, establish standards for digital assets and consumer protections, and segregation of funds.

And then there’s the question of cryptocurrency. Speaking with PYMNTS, Mike Katz, a partner in Manatt, Phelps and Phillips Financial Services Group, said that “despite the razor-thin Republican majorities, there is a growing bipartisan consensus in Congress around the need for thoughtful, innovation-focused crypto and AI legislation.

“It will be interesting to see if any digital asset bills are part of the tax-and-border-focused reconciliation package already being discussed in Congress. I’d expect a strong stablecoin bill to move quickly given existing bipartisan support,” he added.

@ Newshounds News™

Source:  Pymnts

~~~~~~~~~

BRICS NEWS:  BRICS: US DOLLAR REMAINS IN HIGH DEMAND, DE-DOLLARIZATION FAILING

The BRICS alliance which kick-started the de-dollarization agenda is now under the mercy of the US dollar in 2025. The US dollar remained in the green for nine consecutive days in the DXY index and tramping other local currencies. 

The Indian rupee has fallen to a lifetime low of 85.93 and is on the brink of dipping to the 86 level. The Chinese yuan and the Japanese yen are facing similar lows and are unable to take on the rising US dollar.

The US dollar singlehandedly outperformed all local currencies in 2025 taking the top spot in the currency markets. The USD has now reached a high of 109.30 in the DXY index and could breach its all-time high of 109.53. The currencies of BRICS members are the hardest hit despite the alliance pushing the de-dollarization agenda to bring the US dollar down.

BRICS: Here’s Why the US Dollar is Rising and De-Dollarization is Failing

The first boost to the dollar came in early January after US weekly Initial Jobless Claims declined to 201,000 from the previous 211,000. The US Department of Labor (DOL) published the report indicating that the jobs market could ease out leading to employability. 

In addition, Fed Governor Christopher Waller made an announcement saying that inflation could continue to fall in 2025. These two events early this month boosted the US dollar’s prospects and dented the BRICS’ de-dollarization initiative.

The BRICS bloc now remains under pressure as local currencies are facing an uphill task to sustain themselves. The raging US dollar is showing no signs of stopping and is taking the de-dollarization agenda by the horns. 

If the momentum persists, BRICS can only dream of de-dollarization and never make it a reality. The US dollar has sustained many whiplashes over the last seven decades and has faced all challenges head-on.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Saturday Morning 1-11-2025

TNT:

Tishwash:  It can become a major source of income in the economy.. Al-Sudani directs the maturation of tourism projects

Prime Minister Mohammed Shia Al-Sudani stressed, today, Saturday (January 11, 2025), the necessity of investing in Baghdad as the capital of Arab tourism to launch tourism development projects, considering that it can be transformed into a primary source in the non-oil economy.      

The Prime Minister's media office stated in a statement received by "Baghdad Today" that "Al-Sudani chaired a meeting today, Saturday, devoted to presenting a package of tourism projects planned to be established in the capital, Baghdad, and the rest of the governorates."

According to the statement, Al-Sudani directed to work on maturing tourism projects and offering them as a single package, especially since developing this sector will contribute to strengthening and diversifying the national economy by activating vital sectors, including the tourism sector, which the government is keen to activate for the next stage, based on its government program.

He pointed out that tourism and its components are available in Iraq, and it is possible to transform into a basic source in the non-oil economy, with the availability of opportunities, local need, and the desire of citizens to benefit from and enjoy modern, advanced, and environmentally friendly tourism facilities. It also represents a gateway to expanding the elements of attraction for incoming tourism from abroad.

The Prime Minister explained the importance of investing in the opportunity of choosing Baghdad as the Arab Tourism Capital for the year 2025, building attractive tourist and entertainment facilities and installations, overcoming bureaucratic obstacles, and creating more suitable conditions to attract foreign investment in this sector. 

According to the statement, the meeting approved extending an invitation to a Spanish company specialized in tourism development in order to put projects related to this sector into action, as well as to develop the capabilities of specialized tourism cadres and keep pace with the latest developments witnessed by this sector globally.

21 tourism projects were also reviewed, including hotels, resorts, sustainable forests, cities and entertainment complexes in Baghdad and various governorates, which provide attractions, infrastructure and economic feasibility. link

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Tishwash:  Iraq awaits "financial challenges".. Dollar scarcity, liquidity declines, and salary reserves are sufficient for 6 months

International economics expert Nawar Al-Saadi confirmed today, Friday (January 10, 2025), that Iraq is facing major and dangerous financial challenges, and these challenges must be avoided through real reforms.

Al-Saadi said in an interview with Baghdad Today that “the financial challenges in Iraq are ongoing, but recently they have begun to threaten its monetary stability and raise concerns about their impact on the government’s ability to pay salaries in the coming months.

 I do not believe that they will lead to an inability to pay salaries, as the Ministry of Finance has a reserve that may reach at least 6 months, but this concern stems from several data and indicators that have emerged recently, including that the Iraqi economy depends almost entirely on oil revenues, which represent the main source of government revenues, and any decline in global oil prices leads to a reduction in these revenues, which puts additional pressure on the general budget and increases the possibility of a financial deficit.”

He pointed out that "there are problems related to foreign currency management, as dollar smuggling operations have worsened through some unofficial outlets and weak supervision of banks, which has led to a shortage of dollars in the local market and a decrease in general liquidity. This affects monetary stability and puts the government in difficulty in financing salaries, especially with the increasing reliance on cash reserves to cover this deficit."

He added, "The banking sector suffers from a lack of confidence among citizens, as many prefer to keep their money outside the banking system, and this behavior contributes to reducing the cash flow available in the market, which adds further complexity to the financial situation."

The international economics expert concluded by saying, "In short, Iraq's financial situation requires urgent reform steps that include diversifying sources of income, improving revenue management, and enhancing citizens' confidence in the banking system, to avoid a liquidity crisis that could have broad repercussions on the economy and society." link

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Tishwash:  Reveals details of the restructuring plan for Rafidain and Rashid Banks

An economic expert revealed the government’s plan to restructure its two banks, Rafidain and Rashid.

Salah Nouri told Al Furat News Agency, "The reasons for restructuring Rafidain and Rashid banks are the presence of bad financial assets, most of which are loans granted that were impossible to obtain before 2003, which led to a decline in the credit rating by international financial institutions and the refusal to deal with them."

He explained that "in order to restore international confidence in the two banks, it is necessary to restructure the two banks by excluding bad financial assets from the financial center of the two banks and using modern technology and establishing two parallel banks, one for Rafidain and the other for Rashid, to which the bad financial assets will be transferred."

He explained, "After separating Rafidain Bank into a bank that owns sound financial assets and another parallel Rafidain Bank that owns bad financial assets, as well as Rashid Bank into Rashid Bank that owns sound financial assets and Rashid Bank that owns bad financial assets, Rafidain and Rashid banks, which own sound financial assets, will be merged into one bank, as well as merging Rafidain Bank with bad financial assets with Rashid Bank with bad financial assets into one bank."

Nouri said that "the new bank after the merger with sound financial assets will practice cash and contractual credit activities and dealings with international financial institutions, but the new bank after the merger with sound financial assets needs capital support with not small amounts, and this must be determined by the party that supports the capital, according to the government decision."

He noted that "among the financial activities of the new bank is the use of artificial intelligence in addition to bank employees with high technical skills."

He continued that "the process of restructuring the two banks financially and organizationally since 2011 with the membership of the Federal Board of Financial Supervision, the Central Bank of Iraq, the international auditing firm EY, the Ministry of Finance and the two banks concerned, has stopped, and currently the process of restructuring the financial and organizational structure has been resumed by assigning the international auditing firm according to the methodology referred to above."

Prime Minister Mohammed Shia al-Sudani chaired a special meeting yesterday, Thursday, to discuss the development of the work of government banks, in the presence of representatives of Ernst & Young for Auditing and Financial Consulting.

The Prime Minister explained that "the completion rate of the project to restructure Rafidain Bank has reached its final stages, stressing that it will enter into force in the coming few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications."

Meanwhile, the Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed to {Al Furat News} that a new banking entity is about to be born in Iraq.

Salih said that "the study aims to establish a new banking entity specializing in government banking operations, to meet the needs of the government exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating cash flows for public finances."

He pointed out that "the study focuses on evaluating the legal status of the two banks, including property rights, evaluating assets and liabilities, and studying the requirements of a strategic partner if necessary, with a focus on developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking market."

He stressed that "the structural reform also aims to enhance the integration of the two banks into the national banking market and enable them to expand into global financial markets, especially in the areas of trade and investment financing for the private sector," indicating that "the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus on digital payments."  link

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