Iraq Economic News and Points To Ponder Tuesday Evening 6-16-26

Al-Zaydi's Advisor Told Kurdistan 24: There Are No Plans To Raise The Dollar Exchange Rate.

Erbil (Kurdistan24) – An advisor to the Iraqi Prime Minister denied all reports circulating about the government's intention to raise the exchange rate of the dollar against the dinar to address the current financial crisis. He indicated that although the closure of the Strait of Hormuz has significantly harmed the country's revenues, the government will not resort to increasing the dollar's value.

The Iraqi Prime Minister's economic advisor, Mazhar Muhammad Salih, told Kurdistan 24 that Iraq's current financial challenges are directly linked to regional conflicts and tensions, as well as the closure of the Strait of Hormuz. He explained that approximately 85% of Iraq's oil was exported daily through this strait to global markets, and therefore, the disruption of this vital waterway has significantly reduced the government's financial capabilities.

Ali al-Zidi’s advisor denied rumors that the government wanted to adjust the exchange rate, saying: “At this stage, the Iraqi government has no plans to raise the dollar exchange rate. Rather, all efforts and discussions are focused on finding alternative mechanisms to overcome this current situation.”

These statements by Mazhar Muhammad Salih come after reports circulated by some Iraqi media outlets in the past few days, indicating the federal government’s intention to raise the exchange rate of the dollar against the dinar again as a step to confront the current challenges and financial crisis.

https://www.kurdistan24.net/ar/story/920276/مستشار-الزيدي-لـ-كوردستان-24-لا-توجد-أي-خطط-لرفع-سعر-صرف-الدولار

Speculation And Scarcity Drive Iraqi Dinar Lower As Baghdad Rejects Devaluation Fears

While the closure of the Strait of Hormuz chokes oil revenue, currency markets in Erbil and Baghdad grapple with a dollar shortage and a wave of disruptive rumors

ERBIL (Kurdistan24) - In the bustling corridors of Erbil's currency bazaar, the rhythmic exchange of notes has taken on a frantic pace as the U.S. dollar climbs sharply against the Iraqi dinar. On Tuesday, the local market was defined by a volatile mix of genuine scarcity and a feverish wave of speculation, leaving traders and citizens alike struggling to find firm footing in an increasingly unstable financial landscape.

The immediate source of the tremor appears to be a sudden tightening of dollar liquidity originating in Baghdad. Mam Sayid, a prominent currency exchanger in Erbil's bazaar, told Kurdistan24 on Tuesday that the primary driver behind the dollar's surge is a physical shortage of the currency.

While the Central Bank of Iraq (CBI) continues to sell dollars, Sayid noted that the pace is depleting national reserves at a concerning rate.

The resulting anxiety is manifesting in sharp price fluctuations.

According to Sayid's 24-hour market update, the exchange rate moved from approximately 154,000 IQD per $100 on Monday morning to as high as 156,000 IQD by Tuesday.

This rapid depreciation has been further fueled by a persistent rumor that the Central Bank intends to raise the official exchange rate to 142,000 IQD, a move that would effectively codify a devaluation of the national currency.

Sayid was emphatic that the disruption is a product of policy uncertainty in the capital rather than local conditions in the Kurdistan Region.

The fiscal squeeze is undeniable, and its roots are deeply anchored in the region's geopolitical volatility. Iraq's financial health is inextricably tied to its oil exports, and the recent conflict has dealt a staggering blow to the state's revenue streams.

Mazhar Mohammed Salih, a senior economic advisor to Iraqi Prime Minister Ali al-Zaidi, recently provided Kurdistan24 with a stark assessment of the crisis.

He explained that the ongoing closure of the Strait of Hormuz, the maritime chokepoint through which 85 percent of Iraq's oil once flowed daily, has severely restricted the government's financial capacity.

However, Salih moved decisively to quell the market's worst fears. In an interview with Kurdistan24, he categorically denied reports that the government plans to officially devalue the dinar to offset the revenue shortfall.

"At this stage, the Iraqi government has no plans to raise the value of the dollar," Salih stated, characterizing reports of an impending hike as baseless.

He noted that the administration is instead aggressively pursuing alternative economic mechanisms to navigate the current fiscal crunch without resorting to a policy-led increase in exchange rates.

Despite these official reassurances, the psychology of the bazaar often moves faster than the directives from the Prime Minister's office.

In a highly dollarized economy like Iraq's, rumors of a pending rate change often become self-fulfilling prophecies. 

Traders, anticipating a more expensive dollar tomorrow, hoard their current holdings today, thereby strangling supply and driving prices up in a classic speculative loop.

The shift in market demand also reflects broader regional alignments. Mam Sayid revealed that while the dollar dominates the conversation, demand among traders has become concentrated on the Iranian toman.

Meanwhile, traditional trading in other major international currencies, such as the euro, the British pound, and the Chinese yuan, has effectively stalled. This stagnation in non-dollar trading highlights the unique, almost singular importance of the U.S. currency to Iraq's domestic stability and its ability to pay for essential imports.

The implications for the average Iraqi are significant.

A rising dollar translates directly into higher costs for imported goods, from basic foodstuffs to electronics and medicine, eroding the purchasing power of families already strained by the wider regional conflict. 

For the al-Zaidi government, the challenge is twofold: they must manage a genuine liquidity crisis born of suppressed oil exports while simultaneously conducting a war of words against the rumors that threaten to unanchor the currency.

As the markets wait for a definitive sign of stability, predicting the dinar's trajectory remains a difficult task for even the most seasoned observers.

For Mam Sayid and his fellow traders in Erbil, the immediate future is a waiting game. Until the underlying scarcity is resolved and the "142,000" rumor is fully exorcised from the public consciousness, the Iraqi dinar will likely remain at the mercy of the prevailing winds blowing from Baghdad and the volatile waters of the Gulf. 

Summary

Iraq’s dinar has slipped as a dollar shortage and rumors of a rate hike hit markets. While Prime Minister Ali al-Zaidi's advisor denied devaluation plans, citing the Strait of Hormuz closure as the root fiscal cause, speculation has driven exchange rates toward 156,000 IQD per $100.

https://www.kurdistan24.net/en/story/920272/speculation-and-scarcity-drive-iraqi-dinar-lower-as-baghdad-rejects-devaluation-fears

Finance Minister: We Are Proceeding With The Implementation Of A Package Of Reforms Aimed At Maximizing Non-Oil Revenues.

Time: 2026/06/16 15:23:39   {Economic: Al-Furat News} Finance Minister, Faleh Sari, confirmed on Tuesday the continuation of implementing a package of reforms aimed at maximizing non-oil revenues.

 The media office of the Minister of Finance stated in a statement received by Al-Furat News that “the Minister of Finance, Falih Sari, received today, Tuesday, the Assistant Secretary-General of the United Nations Development Programme (UNDP), and the Regional Director for Arab States, Abdullah Al-Dardari.”

He added that "during the meeting, the government's priorities for the next stage were reviewed in light of the current economic challenges."

According to the statement, the minister affirmed that "the ministry is proceeding with the implementation of a package of reforms and measures aimed at maximizing non-oil revenues, developing financial management, and advancing automation projects and the shift towards program and performance budgeting, in order to enhance spending efficiency and raise the level of financial performance."

He pointed to "the importance of partnership with international institutions in supporting development programs, and benefiting from technical expertise in implementing the government's economic and financial priorities."

For its part, the United Nations Development Programme delegation welcomed the “establishment of the Financial Stability Board,” expressing “the Programme’s readiness to support the Iraqi Development Fund and contribute to supporting development projects through local funds in the southern governorates and liberated areas, in a way that contributes to improving the service situation and supporting development opportunities in those areas.”

https://alforatnews.iq/news/وزير-المالية-ماضون-بتنفيذ-حزمة-إصلاحات-تهدف-لتعظيم-الإيرادات-غير-النفطية

Easy Money Or Postponed Reform? An Expert Warns Against Treasury Transfers Becoming A Permanent Cover For The Government's Deficit.

 Baghdad Today – Baghdad   Economic expert Ziad Al-Hashemi warned on Monday (June 16, 2026) against continuing to rely on the treasury transfer discount mechanism as a means of financing the government's financial deficit, considering that it has turned from a temporary financial tool to address crises into a means that contributes to postponing economic reforms and perpetuating waste and financial corruption.

Al-Hashemi said in a statement followed by “Baghdad Today”, that discounted treasury transfers are originally a financial procedure used in many countries around the world to provide liquidity when needed, but their use in Iraq has become so frequent that it raises concerns about its repercussions on financial stability and economic reform.

He explained that the Ministry of Finance resorts to issuing treasury bills to obtain the necessary liquidity to finance salaries and public expenditures when revenues decline, especially oil revenues, as some banks purchase these bills before their ownership is transferred to the Central Bank, which undertakes to pay their value.

He added that Iraqi governments, during periods of high oil prices and increased revenues, have become accustomed to expanding public spending and appointments without building sustainable solutions to financial imbalances, noting that the decline in revenues later pushes them to look for quick sources of funding instead of adopting reform measures to address the causes of the deficit.

He believed that the central bank’s continued provision of financing to the government through discounting treasury bills gives it a wide margin to overcome its financial crises without having to implement real reforms related to controlling spending, combating corruption, and reducing financial waste.

Al-Hashemi stressed that one of the keys to financial reform is strengthening the independence of the central bank and enabling it to make its monetary decisions away from government financial pressures, allowing it to refuse to finance the deficit repeatedly and pushing governments to look for more sustainable economic solutions.

He pointed out that closing the door to "easy financing" will force governments to reconsider spending priorities, maximize non-oil revenues, and improve the efficiency of public finance management, instead of continuing to rely on temporary financing tools.

He warned that continuing the current approach could lead to the entrenchment of problems of corruption, administrative inefficiency and financial waste, noting that financial resources and reserves should be managed in a way that achieves economic stability and preserves the rights of future generations, rather than being turned into a means of addressing recurring financial imbalances without radical reform. https://baghdadtoday.news/301419-.html

Gold Prices Rise In Baghdad And Erbil

2026-06-16 Shafaq News- Baghdad/ Erbil   Gold edged higher in Baghdad and Erbil on Tuesday, hovering around 940,000 IQD per mithqal, according to Shafaq News market survey.

Wholesale prices on Baghdad's Al-Nahr Street recorded a selling price of 943,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 939,000 IQD, up from Monday's 935,000 IQD.

The selling price for 21-carat Iraqi gold stood at 913,000 IQD, with a buying price of 909,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 945,000 and 955,000 IQD, while Iraqi gold sold for between 915,000 and 925,000 IQD.

In Erbil, 22-carat gold was sold at 995,000 IQD per mithqal, 21-carat gold at 950,000 IQD, and 18-carat gold at 814,000 IQD.    https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-and-Erbil-0

Dollar Rises In Baghdad, Stabilizes In Erbil

2026-06-16 Shafaq News- Baghdad/ Erbil   The US dollar opened Tuesday’s trading mixed in Iraq, hovering around 155,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 154,900 dinars per 100 dollars, up from the previous session’s 154,200 dinars.

In the Iraqi capital, exchange shops sold the dollar at 155,500 dinars and bought it at 154,500 dinars, while in Erbil, selling prices stood at 153,850 dinars and buying prices at 153,750 dinars.

https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-stabilizes-in-Erbil-4

Who Owns the Federal Reserve?

Who Owns the Federal Reserve?

How the Fed Remains Independent

By    Kimberly Amadeo   Updated on October 2, 2024

The Federal Reserve is the central bank of the United States. Its decisions affect the U.S. economy and, therefore, the world. This position makes it the most powerful actor in the global economy. It is not a company or a government agency. Its leader is not an elected official, which makes it seem highly suspicious to many people, because it is not subject to either voters or shareholders.1

Learn how the Federal Reserve works, who actually owns it, and how they are held accountable.

Who Owns the Federal Reserve?

The Federal Reserve is an independent entity established by the Federal Reserve Act of 1913. At that time, President Woodrow Wilson wanted a government-appointed central board, but Congress wanted the Fed to have 12 regional banks to represent America's diverse regions. The compromise meant that the Fed has both.2 

Congress and the Fed

The president and Congress must approve all members of the Federal Reserve Board of Governors, but the board members' terms deliberately don't coincide with those of elected officials. The president appoints the Federal Reserve chair, currently Jerome Powell.3 Congress must approve the president's appointment. The chair must report on the Fed's actions to Congress.4

Congress can alter the statutes governing the Fed. For example, the Dodd-Frank Wall Street Reform and Consumer Protection Act limited the Fed's powers. It required the Government Accountability Office (GAO) to audit the emergency loans the Fed made during the 2008 financial crisis. It also required the Fed to make public the names of banks that received any emergency loans or TARP funds. The Fed must get Treasury Department approval before making emergency loans, as it did with Bear Stearns and AIG.5

Note

The Fed's Board is an independent agency of the federal government, but its decisions don't have to be approved by the president, legislators, or any elected official.

Funding

Equally as important, the Fed does not receive its funding from Congress. Instead, its funds come from its investments. It receives interest from U.S. Treasury notes it acquired as part of open market operations. It receives interest on its foreign currency investments. Its banks receive fees for services provided to commercial banks. These include check clearing, funds transfers, and automated clearinghouse operations.

The Fed also receives interest on loans it makes to its member banks. It uses these funds to pay its bills, then turns any "profit" over to the U.S. Treasury Department.6

Bank Members

The 12 regional Federal Reserve banks are set up similarly to private banks. They store currency, process checks, and make loans to the private banks within the area that they regulate. These banks are also members of the Federal Reserve banking system. As such, they must maintain reserve requirements. In return, they can borrow from each other at the fed funds rate when needed. As a last resort, they can also borrow from the Fed's discount window at the discount rate.7

To be a member of the Federal Reserve system, commercial banks must own shares of stock in the 12 regional Federal Reserve banks. But owning Federal Reserve bank stock is nothing like owning stock in a private company. It can't be traded and doesn't give the member banks voting rights. These pay out dividends, mandated by law to be 6%.8 But the banks must return all profits, after paying expenses, to the U.S. Treasury.6

Why the Fed Must Remain Independent

Note

The Fed's monetary policy can do its job better when it is shielded from short-term political influence. It must be free to set expectations, especially about inflation. It cannot do that when its leaders are worried about being fired by an elected official.

Fed chairs are predominantly well-respected academic economists.9 Their expertise is in public policy, finance, and central banking. They are valued for that expertise, not for charisma, a large fan base, or public speaking skills. They are accustomed to an environment where ideas are rationally discussed, debated, and evaluated.

How the Fed Is Held Accountable

Although it is independent, the Fed is still accountable to the public and to Congress. The Fed can best guide expectations if it is transparent about its actions. It must also clearly communicate its reasons for its actions.

The Fed communicates through frequent and detailed reports. First, the Fed chair and other board members testify frequently before Congress. Second, the Fed submits to Congress a detailed Monetary Policy Report twice per year. Third, the Federal Open Market Committee (FOMC) publishes a statement after each meeting. It also provides detailed meeting minutes three weeks later. Verbatim transcripts are available five years later.10

How the Fed Works

The Fed's primary function has been to manage inflation. It has a variety of tools to accomplish that.

To Continue To Read More:   https://www.thebalancemoney.com/who-owns-the-federal-reserve-3305974

ALERT: Debt Collapse In High Gear | Craig Hemke

ALERT: Debt Collapse In High Gear | Craig Hemke

Liberty and Finance:  6-15-2026

Craig Hemke breaks down the debt numbers driving gold and silver higher despite recent market frustration.

 He explains why a $293 billion monthly deficit and soaring interest costs point toward continued currency debasement and mounting pressure on policymakers.

Hemke argues that Washington lacks a realistic path to reverse the debt trajectory, forcing monetary authorities toward lower rates, intervention, and potentially yield curve control.

He also shares why investor sentiment recently reached extreme pessimism and why those moments often create opportunity in precious metals.

Watch as Craig connects the debt crisis, Federal Reserve policy, and the long term outlook for gold and silver through what he calls "the biggest picture."

INTERVIEW TIMELINE:

0:00 Intro

2:00 Dollar devaluation

9:00 Iran deal & new Fed chair

29:36 TF Metals Report

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

Iraq Economic News and Points To Ponder Tuesday Afternoon 6-16-26

G7 Leaders Pledge To Boost Efforts To Tackle The Global Debt Crisis

Arabic and international   At their summit in Evian-les-Bains, France, the leaders of the G7 pledged to strengthen international efforts to address the growing risks of global debt that threaten economic stability and limit countries' ability to finance public services.

In a joint statement, the leaders called for increased support for heavily indebted countries, particularly those implementing economic reform programs but struggling to attract investment, while urging international financial institutions to expand their risk-sharing tools.

The statement stressed the need to develop the international financing system to be more efficient and transparent, noting the importance of cooperation with the G20 to ensure an orderly and transparent restructuring of the debts of fragile and middle-income countries.

The G7 leaders also stressed the importance of promoting private investment and blended finance to support long-term development projects, as well as strengthening infrastructure and supply chains, in order to achieve sustainable economic growth.     https://www.economy-news.net/content.php?id=70338

From "Spending For The Sake Of Spending" To "Spending For Results": Iraq Opens The Door To Financial Reform Through Program And Performance Budgeting.

Reports   Economy News – Baghdad   The Iraqi government is moving towards a fundamental shift in public finance management by adopting a program and performance budget, a step that is considered one of the most prominent paths of financial and administrative reform, and aims to link government spending to actual results and achievement indicators, instead of being limited to allocating funds and monitoring their disbursement according to the traditional categories adopted for decades.

This trend comes at a time when public finances are facing increasing challenges related to the need to raise spending efficiency, maximize non-oil revenues, and ensure that resources are directed towards priority projects and services, in order to achieve a tangible developmental and economic impact.

In this context, Finance Minister Faleh Al-Sari stressed that the shift towards a program and performance budget is a key priority in the next phase, noting that the ministry is proceeding with the implementation of a reform path based on clear priorities, foremost among them the automation of financial, tax and customs systems.

Al-Sari explained that these measures represent fundamental pillars for simplifying procedures, enhancing non-oil revenues, reducing financial waste, and strengthening oversight, which contributes to building a more efficient and transparent financial management.

He stressed that program and performance budgeting is a strategic step that links government spending to goals and results, and contributes to directing resources towards projects and services that have a direct impact on the lives of citizens, especially in light of the current financial challenges and changes related to energy markets and public revenues.

This approach representsa shift in the philosophy of preparing public budgets, as the program and performance budget differs from the traditional budgets known as "item budgets," which focus on the amount that ministries and government agencies spend on salaries, supplies and projects, while the new budget focuses on the results achieved and the expected returns from public spending.

In this context, the Prime Minister’s Advisor for Economic and Financial Affairs, Mazhar Muhammad Saleh, explained that the government is moving towards adopting a program and performance budget as one of the most prominent paths of financial and administrative reform, with the aim of raising the efficiency of public spending and linking it to the goals and results achieved on the ground.

Saleh told Al-Eqtisad News that this type of budget is based on allocating financial resources according to specific programs and objectives and measurable performance indicators, which allows for evaluating the efficiency of government spending and its contribution to achieving developmental and service goals, as well as enhancing transparency and accountability by measuring achievement levels and monitoring the implementation of government plans.

He added that the selection of projects and programs that receive funding will be based on the government’s priorities and strategic plans, the feasibility of the projects, and their ability to achieve tangible results that reflect on services and economic development, with the adoption of clear performance indicators to monitor implementation and measure completion rates periodically.

Saleh pointed out that adopting a program and performance budget represents a gradual shift from the concept of "spending for the sake of spending" to the concept of "spending for the sake of results," as it assumes that the continuation of funding or the release of financial payments is linked to actual completion rates and project outputs, instead of being satisfied with fixed annual allocations.

He explained that the application of this system in Iraq will not be immediate, but will be done gradually due to its need to build specialized technical capabilities and benefit from international expertise in cooperation with the World Bank and relevant United Nations agencies, noting that the mechanisms for annual financial allocation currently in place will continue during the transitional phase in parallel with the introduction of modern tools for measuring performance, monitoring implementation and linking funding to achievement indicators.

Experts believe that the success of the experiment is not only linked to changing the form of the budget, but also to the ability of government institutions to build monitoring and administrative systems capable of tracking implementation and accurately measuring results, as well as the availability of modern databases and advanced digital systems that support the decision-making process.

In this regard, financial expert Mustafa Akram Hantoush said that adopting a program and performance budget is a necessary shift after decades of working with line-item budgeting, which saw the allocation and spending of huge sums on projects, many of which were not completed.

He explained that the essence of the new budget lies in linking government spending to specific goals and measurable results, by focusing on a limited number of priority projects and sectors and ensuring their completion within clear timeframes, which contributes to reducing financial waste and increasing the efficiency of public resource utilization.

Hantoush added that this approach could provide a more effective basis for implementing major strategic projects, especially in the infrastructure, energy and transportation sectors, such as electricity projects, the Grand Faw Port and the Development Road, which would enhance economic growth opportunities and support efforts to diversify national income sources.

While the government affirms that program and performance budgeting represents a strategic option for reforming public finance management, the success of this transformation will remain contingent on the ability of institutions to move from a culture of traditional spending to a culture of results management, and to link funding to the level of actual achievement, in order to ensure that public resources are directed towards achieving development, improving services, and enhancing the state’s efficiency in managing its financial resources in the coming years. https://www.economy-news.net/content.php?id=70223

Erbil And Baghdad Are Nearing The Activation Of The ASYCUDA Customs System.

Money and Business   Economy News – Baghdad   Sami Jalal, the legal advisor to the Ministry of Interior in the Kurdistan Region, revealed on Tuesday that a high-level delegation will soon head to Baghdad to finalize the procedures for the agreement to implement the ASYCUDA customs system, in preparation for presenting it to the Iraqi Ministerial Council for Economy for ratification.

Jalal told Al-Ahd News that “a government delegation will visit the capital, Baghdad, tomorrow, Wednesday, on a mission dedicated to the ASYCUDA system,” explaining that the visit includes signing an agreement with the federal government regarding the application of the customs system, before referring it to the Ministerial Council for Economy to complete the procedures for ratification and implementation.

 In the same context, a high-level delegation from the regional government is scheduled to arrive in the capital, Baghdad, to discuss a number of important financial and oil-related issues.

According to information obtained by “Al-Ahd News”, the delegation includes the Ministers of Finance and Economy, the Minister of Natural Resources, the Head of the Cabinet Office, the Secretary of the Cabinet, in addition to a representative from the Ministry of Interior, with official negotiations with the relevant authorities in the federal government scheduled to begin on Wednesday.

The talks will focus on three main issues: the implementation of the ASYCUDA system, non-oil revenues and the federal treasury’s share of them, as well as the issue of exporting the region’s oil and the demands of oil companies.

https://www.economy-news.net/content.php?id=70316

Brent Crude Price Falls Below $79 A Barrel

energy   Trading data indicated that oil prices fell by 5-6% in the global market, with Brent crude dropping below $79 a barrel for the first time since early March.

August futures for Brent crude fell 5.04% compared to the previous close, reaching $78.97 a barrel.

This marks the first time the benchmark has fallen below $79 since March 3. July futures for West Texas Intermediate (WTI) crude also declined, by 5.78%, to $76.08.

The sharp drop in oil prices (Brent below $79 and WTI below $77) is attributed to the major political breakthrough in the Middle East and expectations of a return to normal oil supplies.

Prices fell by about 5% on Monday, reaching their lowest settlement level since March 4, 2016, after US President Donald Trump announced the signing of a memorandum of understanding to end the war with Iran, although the full details of the memorandum have not yet been disclosed. https://www.economy-news.net/content.php?id=70342

Dhi Qar: Inauguration Of The Al-Rifai Treatment Plant Project With A Capacity Of 60,000 Cubic Meters Per Day

Localities   The Ministry of Construction, Housing and Municipalities announced on Tuesday the opening of a wastewater treatment plant in Al-Rifai district in Dhi Qar Governorate with a production capacity of 60,000 cubic meters per day, confirming that the project has been handed over to the local government to begin actual operation and serve more than 250,000 people, while revealing the completion rates in other pollution treatment projects in the governorate.

The Director General of the General Directorate of Sewers, Engineer Imad Tawfiq, said: “This project is one of the major strategic projects that has faced several difficulties and challenges since 2012,” indicating that “since 2019 the Directorate has been able to actually begin and address all the technical and legal problems that the project faced throughout the past years, so that it can be completed perfectly and according to the highest technical specifications prepared for it.”

Tawfiq added, "The project, designed to treat heavy sewage, serves vast areas of the district and will officially become operational today." He pointed out that "the responsibility now lies with the local government in Dhi Qar to fully operate and manage the project, as the Ministry of Construction's role is limited to constructing these vital projects, while local governments are responsible for their operation to ensure environmental protection and prevent river pollution.

" He called on the local administration to "provide the necessary technical staff and financial allocations to ensure the station's continued operation after its official handover." https://www.economy-news.net/content.php?id=70343

After A Two-Year Delay, An Additional 400 Megawatts Will Be Supplied To Karbala Next Month.

Localities   Karbala Provincial Council member Israa al-Nasrawi announced on Tuesday that a number of "important agreements" had been reached with the Ministry of Electricity regarding strengthening the energy situation in the province and the reasons for the decline in supply there.

Al-Nasrawi stated that "a meeting was held with the Minister of Electricity, Ali Saadi Wahib, in the presence of the Governor of Karbala, Nassif Al-Khattabi, and a number of general managers in the production, transmission and distribution sectors, which addressed files related to the production and transmission sectors."

She indicated that one of the most prominent outcomes of the meeting was "the imminent entry of the Al-Dhafaaf station into service during the coming month of July, after its implementation was delayed for more than two years, which will provide about 400 additional megawatts to the electricity system in Karbala."

She added that "the meeting discussed ways to enhance the electricity system and increase the province's share of energy, especially with the approach of the month of Muharram and the influx of large numbers of visitors to the city."

https://www.economy-news.net/content.php?id=70345

Seeds of Wisdom RV and Economics Updates Tuesday Afternoon 6-16-26

Good Afternoon Dinar Recaps,

Who Is Still Outside MiCA? Tether, Binance Among Leading Crypto Firms

Europe's landmark crypto regulations are entering a critical phase as major digital asset companies race to comply—or risk losing access to one of the world's largest cryptocurrency markets.

Overview

• The European Union's July 1 MiCA transition deadline is rapidly approaching, placing pressure on thousands of crypto firms to secure regulatory authorization.

• Several major industry leaders, including Tether and Binance, remain outside the MiCA framework, creating uncertainty for their future operations in Europe.

• MiCA is expected to reshape the European crypto industry, separating fully regulated firms from those operating outside the new legal framework.

Key Developments

1. Most Crypto Firms Still Lack MiCA Authorization

Although Markets in Crypto-Assets (MiCA) regulations are nearing full implementation, only 194 firms had received authorization by May 2026, out of nearly 3,000 registered crypto companies operating across the European Union. This means approximately 75% of firms remain unlicensed as the compliance deadline approaches.

2. Tether Continues to Resist MiCA Requirements

Tether, issuer of the world's largest stablecoin (USDT), remains the most prominent company choosing not to pursue MiCA authorization. CEO Paolo Ardoino has criticized portions of the regulation, particularly reserve management and banking requirements.

As a result, several major exchanges have already restricted or delisted USDT trading for European Economic Area users, while MiCA-compliant alternatives such as USDC continue gaining market share.

3. Binance and Other Major Firms Still Await Approval

While many leading exchanges—including Coinbase, Kraken, Crypto.com, Gemini, OKX, Bybit, and Bitstamp—have secured or established MiCA-compliant operations, Binance's authorization remains pending. Other international platforms, including HTX and BitMEX, have also yet to announce full MiCA approval.

Without authorization, these firms may lose the ability to offer services, onboard new customers, or market products throughout the European Union.

Why It Matters

MiCA represents one of the most significant regulatory frameworks ever introduced for digital assets. Rather than regulating individual countries separately, it creates a single licensing system allowing approved firms to operate across all EU member states.

For crypto companies, compliance means continued access to one of the world's largest financial markets. For those choosing not to comply, Europe could effectively become unavailable, shifting business activity toward other jurisdictions.

Why It Matters to Foreign Currency Holders

The growth of regulated stablecoins and digital payment infrastructure is another step toward the modernization of global financial systems. As governments increasingly regulate blockchain-based assets, digital currencies are becoming more integrated into mainstream banking and international payments.

For those following the Global Financial Reset, MiCA demonstrates how governments are building regulated digital asset ecosystems that could eventually complement future cross-border settlement networks and tokenized financial markets.

Implications for the Global Reset

• Pillar 1: Technology

MiCA establishes one of the world's first comprehensive regulatory frameworks for digital assets, providing legal certainty for blockchain innovation while encouraging institutional participation.

• Pillar 2: Assets

As regulated stablecoins replace unregulated alternatives in key jurisdictions, digital assets are becoming increasingly integrated into the global financial system, strengthening the foundation for tokenized payments and cross-border settlements.

Looking Ahead

The July 1 implementation deadline will mark a major turning point for Europe's cryptocurrency industry.

Key developments to watch include:

• Final MiCA approvals for remaining exchanges and stablecoin issuers

• Potential expansion of MiCA-compliant stablecoins across Europe

• Whether Binance secures full authorization

• The future availability of USDT within European markets

• How other global regulators may model future crypto legislation after MiCA

Europe's regulatory framework could become the blueprint for digital asset regulation worldwide, influencing how governments balance innovation with financial oversight.

This is not just cryptocurrency regulation—it’s global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• CoinGape — "Who Is Still Outside MiCA? Tether, Binance Among Leading Crypto Firms"

• European Securities and Markets Authority (ESMA) — Markets in Crypto-Assets (MiCA) Regulatory Framework

~~~~~~~~~~

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Iraq Economic News and Points To Ponder Tuesday Morning 6-16-26

United Nations: Iraq's Four Presidencies Agree On Ensuring A Decent Life For All Citizens

Iraqi News Agency (INA)  Baghdad INA - June 15th, 2026   The UN Assistant Secretary-General and Regional Director of the United Nations Development Programme (UNDP) for Arab States, Abdullah Al-Dardari, affirmed on Monday that Iraq's four presidencies are in agreement on combating corruption and adopting a competitive economy to ensure a decent life for all citizens. 

During a roundtable discussion with several media, including the Iraqi News Agency (INA), Al-Dardari stated, "During my visit to Iraq, I had the honor of meeting with the four presidencies and a number of ministers," indicating that "this demonstrates their interest in what the United Nations program can offer Iraq." 

He added, "I heard comprehensive and aligned visions among the four presidencies regarding the necessity of transitioning to a strong, competitive Iraq that guarantees a decent life for all citizens and public services, with an economy based not solely on rent-seeking but on competitiveness, combating corruption, reforming and developing the social protection system, and reforming the subsidy system, as it does not satisfy the citizen and public finances in its current form.” 

Al-Dardari emphasized, "I was surprised by the depth and breadth of the vision, and most importantly, the strong political consensus among the four presidencies regarding this vision and the boldness in confronting it," noting that "any government that confronts corruption, subsidies, arms control, social protection management, and economic diversification simultaneously is a testament to the boldness of its approach, and we cannot remain as we are." 

https://ina.iq/en/politics/49626-united-nations-iraqs-four-presidencies-agree-on-ensuring-a-decent-life-for-all-citizens.html

Standard & Poor's Affirms Iraq's Sovereign Rating And Removes It From Negative Watch.

Economy - 13/06/2026   Mawazin News - Economy   Standard & Poor's Global Ratings affirmed Iraq's sovereign rating at 'B-/B' and removed its long-term rating from negative watch. The agency assigned a negative outlook, citing risks of conflict in the Middle East over the next six to twelve months, including continued disruptions to export trade routes through the Strait of Hormuz and potential damage to infrastructure. Iraq's economy remains heavily reliant on the oil sector, making it particularly vulnerable to the decline in crude exports through the strategic waterway, according to Reuters.

The agency forecasts full-year oil production to average 2.9 million barrels per day in 2026, down approximately 28% from the pre-war average of 4 million barrels per day recorded in 2025, attributing its forecast to current production levels and the fragile recovery expected in the second half of the year.

The agency stated that, given that oil revenues constitute more than 90% of budget revenues and merchandise exports, Iraq's fiscal and balance of payments positions are likely to remain under pressure this year, projecting a 15% contraction in real GDP.

 A rise in average oil prices during the period Standard & Poor's said that 2026 could provide some support for fiscal and external revenues, assuming a gradual recovery in oil exports in the second half, which remains its baseline scenario.

The agency had placed Iraq's long-term sovereign rating of "B-" on negative watch in March, citing the risk of a downgrade after a sharp drop in oil production linked to escalating conflict in the region. 

https://www.mawazin.net/Details.aspx?jimare=283571

Source To Al-Sharq: Anticipation For The Arrival Of The US Envoy To Discuss The Completion Of The Cabinet Formation And Arrangements For The Meeting Between Al-Zaidi And Trump

Baghdad - One News - 6/15/2026An Iraqi government source revealed that the US Special Envoy to Iraq, Tom Barrack, will visit Baghdad in the coming hours to hold talks with Iraqi officials on a number of political and security issues.

The source explained that the visit will address the completion of Prime Minister Ali al-Zaidi's cabinet, in addition to discussing the issue of restricting weapons to the state and the factions that have agreed to hand over their weapons.

He added that Barak will discuss preparations for al-Zaidi's upcoming visit to the United States, and will also head to the Kurdistan Region to discuss outstanding issues between Baghdad and Erbil.

 The visit comes at a time when al-Zaidi's anticipated visit to Washington represents an important step towards reorganizing the paths of political, security and economic cooperation between the two countries.

https://1news-iq.net/مصدر-للشرق-ترقب-لوصول-المبعوث-الأميرك/

US’s Barrack Arrives To Shape ‘New Direction’ In Iraq Ties

2026-06-15 /  Shafaq News- Baghdad   US Special Envoy to Iraq and Syria Tom Barrack arrived in Baghdad on Monday for meetings with Prime Minister Ali Al-Zaidi and senior Iraqi officials, focusing on shaping “a new direction for a strong and mutually beneficial US-Iraq relationship.”

 Barrack said, shortly after his arrival, that he would convey US President Donald Trump's support for the Iraqi government during his meeting with Al-Zaidi.

Ambassador Tom Barrack @USAMBTurkiye Happy and honored to be back in Baghdad, meeting with our great U.S. Embassy team led by Chargé d’Affaires Joshua Harris. Today I will meet with Prime Minister Al-Zaidi to convey President Trump’s support for his government, and discuss our partnership on a new direction for a strong and mutually beneficial US-Iraq relationship.

 A government source previously told Shafaq News that the visit will cover Baghdad's position on armed factions seeking to dismantle their military wings and join the Popular Mobilization Forces (PMF), Iraq's state-sanctioned security umbrella. 

Discussions are also expected to pave the way for Al-Zaidi's planned trip to the United States and explore proposals to ease political tensions while preserving the country’s power-sharing framework.

Read more: Trump's new Iraq-Syria envoy faces an Iran test Syria never posed

https://shafaq.com/en/Iraq/US-s-Barrack-arrives-to-shape-new-direction-in-Iraq-ties

The Parliamentary Finance Committee Rules Out Approving The Budget And Calls For Exploring Financial Alternatives.

Information / Baghdad...  Member of the Parliamentary Finance Committee, Hussein al-Daraji, ruled out the possibility of approving the general budget this year, indicating that the Finance Committee will hold a series of meetings during the upcoming legislative session to discuss available options and alternatives.

Al-Daraji told the Information Agency, "Current data does not suggest the possibility of approving the general budget this year given the existing financial and economic challenges."

He added, "The Parliamentary Finance Committee will begin holding intensive meetings during the upcoming legislative session to study suitable alternatives that can ensure the continued funding of state institutions and cover necessary expenditures."

He pointed out that "the next phase requires developing financial and economic solutions that are appropriate to the current reality and ensure the continued fulfillment of governmental and service obligations."

He affirmed that "the Finance Committee will work in coordination with relevant authorities to reach realistic solutions that contribute to overcoming the existing financial challenges." End/25

https://almaalomah.me/news/135611/politics/المالية-النيابية-تستبعد-إقرار-الموازنة-وتدعو-لبحث-بدائل-مالي

Supporting Iraq With Electricity: The Most Prominent Topic Discussed In The Meeting Between Al-Zaidi And Trump's Envoy

Money and Business   Economy News — Baghdad   Prime Minister Ali Faleh al-Zaidi and US President Donald Trump’s special envoy Tom Barrack renewed on Tuesday their shared commitment to establishing a strong and mutually beneficial Iraqi-American partnership.

A statement from the Prime Minister's office, received by "Al-Eqtisad News," stated that "Al-Zaidi and President Trump's Special Envoy Tom Barrack reaffirmed the shared commitment of the Iraqi government, led by Prime Minister Ali Al-Zaidi, and the United States government, led by President Trump, to establish a strong and mutually beneficial US-Iraqi partnership capable of fulfilling the aspirations of Iraqis for a future of sovereignty, security, and prosperity, and providing tangible benefits to both the Iraqi and American peoples."

The statement added that "Barak conveyed Trump's desire to receive Prime Minister Ali al-Zaidi at the White House in mid-July to discuss the future of this important relationship."

According to the statement, the two sides discussed "the shared and ambitious vision of the Iraqi government to build a brighter future free from terrorism, and to implement Iraqi plans aimed at the complete disarmament and disbanding of all armed groups and formations operating outside the authority and control of the Iraqi state, and to confine weapons to the hands of the state, and to impose full sovereignty, in a way that ensures that Iraq is kept away from conflicts and that its territory is not used by any party to threaten regional peace," noting that "al-Zaidi and Barak stressed the urgent need to fully accomplish these efforts."

Al-Zaidi reiterated Iraq's commitment to deepening trade and investment relations between the two countries, which Barak welcomed as a shared approach.

According to the statement, both sides also praised “Iraq’s decision to complete the granting of the operating license to Starlink, to provide world-class internet services to Iraqi consumers, and to launch negotiations with Chevron to develop the West Qurna-2 and Nasiriyah oil fields, in a way that achieves mutual benefit for both sides, and to enable the American companies HKN, Western Zagros and Hunt to resume their operations with the provision of full security guarantees, and to move forward with the memorandum of understanding with TI Capital to rehabilitate the Kirkuk-Banias pipeline as a vital route for oil exports.”

The Prime Minister and the Special Presidential Envoy also reaffirmed "the shared commitment to expanding trade cooperation between the United States and Iraq to support Iraq's electricity needs, including Excelerate Energy's project to develop a floating liquefied natural gas (LNG) import terminal in Khor Al-Zubair."

Both sides also emphasized "the importance of supporting a strong, united, sovereign, federal, democratic Iraq based on well-established constitutional institutions, and ensuring full equality for all citizens, thereby enhancing Iraq's unity, stability, and prosperity." https://www.economy-news.net/content.php?id=70299

Seeds of Wisdom RV and Economics Updates Tuesday Morning 6-16-26

Good Morning Dinar Recaps,

Did Oil Markets Bet on Trump and Win on Iran War Pricing?

How political expectations, the Strait of Hormuz, and global energy markets reshaped oil prices during the U.S.-Iran conflict.

Overview

• Oil markets remained surprisingly resilient despite one of the largest disruptions to global energy flows in recent history.

• Investor confidence that diplomacy would prevail helped prevent oil prices from reaching the extreme levels many analysts had expected.

• The reopening of the Strait of Hormuz shifted market sentiment, but rebuilding depleted inventories may keep volatility elevated.

Key Developments

1. Oil Prices Spiked but Avoided Worst-Case Scenarios

Following the U.S.-Israeli strikes on Iran and the disruption of shipping through the Strait of Hormuz, Brent crude climbed from roughly $70 per barrel to nearly $118 before retreating after news of a U.S.-Iran framework agreement. Although the supply shock was significant, prices remained below the peaks many analysts had anticipated.

2. Markets Priced in a Diplomatic Resolution

Many traders appeared to believe that President Donald Trump would not allow oil prices to remain at inflationary levels for an extended period. This expectation—often described by analysts as the "Trump Put"—led markets to anticipate a negotiated settlement rather than prolonged disruption.

3. Global Supply Buffers Prevented a Larger Crisis

Strategic petroleum reserves, commercial inventories, and weaker-than-expected demand from several major economies helped stabilize markets. Even with an estimated 1.4 billion barrels of disrupted supply, the global energy system absorbed much of the shock.

Why It Matters

This episode demonstrated that modern oil markets are influenced as much by political expectations as by physical supply and demand. Investors increasingly evaluate the likelihood of government intervention, diplomatic negotiations, and geopolitical decisions alongside traditional market fundamentals.

The rapid easing in prices following news of a diplomatic breakthrough also highlights how quickly financial markets can reprice geopolitical risk, affecting inflation expectations, central bank policy, transportation costs, and global investment decisions.

Why It Matters to Foreign Currency Holders

For those following the Global Financial Reset or potential currency revaluations, energy prices remain one of the most influential drivers of global monetary policy. Lower oil prices can help ease inflation pressures, potentially allowing central banks greater flexibility with interest rates and liquidity policies.

However, continued volatility in global energy markets reminds investors that geopolitical events remain a major factor influencing currencies, sovereign debt, and international capital flows.

Implications for the Global Reset

• Pillar 1: Energy

The reopening of the Strait of Hormuz reduces immediate risks to global energy supplies, but the conflict exposed the vulnerability of critical shipping lanes that underpin the world economy.

• Pillar 2: Markets & Monetary Policy

The crisis illustrated how geopolitical developments now directly influence inflation expectations, central bank decisions, and investor confidence, reinforcing the growing connection between global politics and financial markets.

Looking Ahead

Although the preliminary U.S.-Iran agreement eased immediate concerns, markets will closely monitor:

• Implementation of the ceasefire framework

• Restoration of normal shipping through the Strait of Hormuz

• Rebuilding depleted global oil inventories

• Future U.S.-Iran nuclear negotiations

• Potential changes in global inflation and interest-rate expectations

While the immediate crisis has eased, energy markets remain sensitive to geopolitical developments, meaning further volatility cannot be ruled out.

This is not just politics—it’s global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Modern Diplomacy — "Did Oil Markets Bet on Trump and Win on Iran War Pricing?"

• Reuters — Coverage of global oil markets, U.S.-Iran tensions, and energy market developments.

~~~~~~~~~~

🌱 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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What Is Monetary Policy?

What Is Monetary Policy?

By  Kimberly Amadeo   Updated on June 15, 2022

Definitions and Examples of Monetary Policy

Monetary policy increases liquidity to create economic growth. It reduces liquidity to prevent inflation. Central banks use interest rates, bank reserve requirements, and the number of government bonds that banks must hold. All these tools affect how much banks can lend. The volume of loans affects the money supply.

The money supply includes forms of credit, cash, checks, and money market mutual funds. The most important of these forms of money is credit. Credit includes loans, bonds, and mortgages. 

In a recession, central banks might combat high unemployment by giving banks more money. Banks in turn lower interest rates, which allows businesses to hire more employees. This is an example of expansionary monetary policy.1

How Does Monetary Policy Work?

Central banks have three monetary policy objectives. The most important is to manage inflation. The secondary objective is to reduce unemployment, but only after controlling inflation. The third objective is to promote moderate long-term interest rates.2

The U.S. Federal Reserve, like many other central banks, has specific targets for these objectives. It wants the core inflation rate to be around 2%.3 Beyond that, it prefers a natural rate of unemployment of between 3.5% and 4.5%.4

The Fed's overall goal is healthy economic growth. That's a 2% to 3% annual increase in the nation's gross domestic product.5

Types of Monetary Policy

Central banks use contractionary monetary policy to reduce inflation. They reduce the money supply by restricting the volume of money banks can lend. The banks charge a higher interest rate, making loans more expensive. Fewer businesses and individuals borrow, slowing growth.

Central banks use expansionary monetary policy to lower unemployment and avoid recession. They increase liquidity by giving banks more money to lend. Banks lower interest rates, making loans cheaper. Businesses borrow more to buy equipment, hire employees, and expand their operations. Individuals borrow more to buy more homes, cars, and appliances. That increases demand and spurs economic growth.1

Monetary Policy vs. Fiscal Policy

Ideally, monetary policy should work hand-in-glove with the national government's fiscal policy. It rarely works this way. Government leaders get re-elected for reducing taxes or increasing spending. As a result, they adopt an expansionary fiscal policy. To avoid inflation in this situation, the Fed is forced to use a restrictive monetary policy.6

For example, after the Great Recession, Congress became concerned about the U.S. debt. It exceeded the debt-to-GDP ratio of 100%.7 As a result, fiscal policy became contractionary just when it needed to be expansionary. To compensate, the Fed injected massive amounts of money into the economy with quantitative easing.8 

Monetary Policy Tools

All central banks have three tools of monetary policy in common.

Open Market Operations

Central banks all use open market operations (OMO). With OMO, the central bank can create new money by buying government securities, such as Treasury bonds, and issuing new money. The central bank can likewise contract the money supply by selling those securities from its balance sheet and removing the money received from circulation.9

The Reserve Requirement

The reserve requirement is when the central banks tell their members how much money they must keep on reserve each night. Not everyone needs all their money each day, so it is safe for the banks to lend most of it out. That way, they have enough cash on hand to meet most demands for redemption. Previously, this reserve requirement has been 10%. However, effective March 26, 2020, the Fed has reduced the reserve requirement to zero.10

When a central bank wants to restrict liquidity, it raises the reserve requirement. That gives banks less money to lend. When it wants to expand liquidity, it lowers the requirement. That gives members banks more money to lend. Central banks rarely change the reserve requirement because it requires a lot of paperwork for the members.

The Discount Rate

The discount rate is how much a central bank charges members to borrow funds from its discount window. It raises the discount rate to discourage banks from borrowing. That action reduces liquidity and slows the economy. By lowering the discount rate, it encourages borrowing. That increases liquidity and boosts growth.11

In the United States, the Federal Open Market Committee typically sets the discount rate higher than the federal funds rate. The Fed prefers banks to borrow from each other.12

Other Tools

Most central banks have many more tools that work together to manage bank reserves.

The Fed has two other major tools it can use. It is most well-known is the Fed funds rate. This rate is the interest rate that banks charge each other to store their excess cash overnight. The target for this rate is set at the FOMC meetings. The fed funds rate impacts all other interest rates, including bank loan rates and mortgage rates.13

Read more about the most recent Federal Open Market Committee (FOMC) meeting and changes to the fed funds rate here.

To Continue Read More Here:  https://www.thebalancemoney.com/what-is-monetary-policy-objectives-types-and-tools-3305867

Tuesday Iraq News Posted by Tishwash at TNT 6-16-2026

TNT:

Tishwash:  Partnership, security, investment, and Trump invites al-Zaidi to visit  Washington in mid-July

Iraq and the United States affirmed on Tuesday their commitment to strengthening a "strong and mutually beneficial" strategic partnership that includes security, energy, and investment, as well as supporting political and economic stability in the country.

This came in a joint statement issued today by Iraqi Prime Minister Ali al-Zaidi and US President Donald Trump's special envoy Tom Barrack.

According to the statement, Al-Zaidi and Barak reaffirmed the shared commitment of the Iraqi and US governments to establishing a strong and mutually beneficial US-Iraqi partnership capable of fulfilling the aspirations of Iraqis for a future of sovereignty, security and prosperity, and providing tangible benefits to the Iraqi and American people.

Barak conveyed President Trump's desire to receive the Prime Minister at the White House in mid-July to discuss the future of this relationship.

According to the statement, the two sides discussed the Iraqi government’s shared and ambitious vision for building a brighter future free from terrorism, and implementing Iraqi plans aimed at the complete disarmament and disbanding of all armed groups and formations operating outside the authority and control of the Iraqi state, confining weapons to the state, and imposing full sovereignty, in order to ensure that Iraq is kept away from conflicts and that its territory is not used by any party to threaten regional peace, while emphasizing the urgent need to fully accomplish these efforts.

The Prime Minister reiterated Iraq’s commitment to deepening trade and investment relations between the two countries, which Barak welcomed as a shared approach.

Both sides also commended Iraq’s decision to finalize the granting of the operating license to Starlink to provide world-class internet services to Iraqi consumers, launch negotiations with Chevron to develop the West Qurna-2 and Nasiriyah oil fields, enable American companies HKN, Western Zagros and Hunt to resume their operations with full security guarantees, move forward with the memorandum of understanding with TI Capital to rehabilitate the Kirkuk-Banias pipeline as a vital oil export route, and commit to expanding trade cooperation between the United States and Iraq to support Iraq’s electricity needs, including Excelerate Energy’s project to develop a floating liquefied natural gas (LNG) import terminal in Khor Al-Zubair.

Both sides also stressed the importance of supporting a strong, united, sovereign, federal, democratic Iraq based on well-established constitutional institutions, and ensuring full equality for all citizens, thereby enhancing Iraq’s unity, stability, and prosperity.  link

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Tishwash:  American efforts to strengthen economic presence in Iraq through investments and joint projects

Political sources confirmed that the anticipated talks between Iraq and the United States will not be limited to security and political aspects, but will also include important economic and investment files aimed at strengthening cooperation between the two sides.

She indicated that the US administration seeks, during the next phase, to expand its economic presence in Iraq and the region, by encouraging investments and joint projects in the energy, infrastructure, transportation and services sectors, in a way that contributes to supporting economic development and stimulating growth.

She added that Washington has adopted a new approach based on combining security and economic tools, stemming from the conviction that sustainable stability cannot be achieved without providing an attractive investment environment capable of supporting economic growth and creating job opportunities.

She pointed out that these trends come within the framework of broader efforts to strengthen regional economic partnerships and support development projects, in order to achieve common interests and contribute to consolidating long-term stability.  link

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

Tishwash:  American Trade Delegation Arrives in Erbil, PM Barzani to Meet Delegation, Investment Board Chief Says

Mohammad Shukri, Chairman of the Kurdistan Region Investment Board, told Kurdistan24 in an exclusive interview on Monday that the delegation represents a major American company with operations in 18 countries.

An American trade and investment delegation has arrived in Erbil to explore investment opportunities, particularly in strategic industries outside the oil sector.

Mohammad Shukri, Chairman of the Kurdistan Region Investment Board, told Kurdistan24 in an exclusive interview on Monday that the delegation represents a major American company with operations in 18 countries. He said the visitors are scheduled to meet with Prime Minister Masrour Barzani to discuss expanding commercial cooperation and launching large-scale projects across the Kurdistan Region.

Shukri stressed that the Kurdistan Regional Government (KRG) is pursuing a strategy of diversifying its revenue sources and views American investment as a key component of that effort. He highlighted urban development, healthcare, and tourism as priority sectors for future cooperation.

"The Prime Minister wants these global companies to see the reality on the ground firsthand and to implement strategic projects in the Kurdistan Region in the future," Shukri said.

He also revealed that a special economic forum bringing together the Kurdistan Region and the U.S. Chamber of Commerce will be held in Washington next July, as part of broader efforts to attract foreign capital and deepen bilateral economic relations.

According to the latest data from the General Directorate of Company Registration, 169 American companies are currently registered in the Kurdistan Region. Of those, 155 are based in Erbil and are active in a range of commercial sectors.

The latest visit builds on growing economic engagement between Washington and Erbil. In October 2025, the KRG Representation in Washington announced that a high-level delegation from the U.S. Chamber of Commerce, accompanied by representatives from leading global firms including Google, IBM, Visa, PepsiCo, and Coca-Cola, visited the Kurdistan Region to assess investment opportunities and review ongoing reform initiatives.

During that visit, Prime Minister Masrour Barzani met with the delegation and outlined the KRG's economic reform agenda, emphasizing efforts to diversify the economy and create a more attractive investment climate. He noted that the Kurdistan Region's young workforce and strategic geographic location make it a gateway for American businesses seeking to expand into Iraq and the wider Middle East.

The American delegation also toured several strategic projects, including the Erbil Rapid Water Emergency Project, and visited the Department of Information Technology to examine the government's digital transformation initiatives and progress toward a paperless administrative system, developments that drew particular interest from technology companies.

Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce, described the earlier mission as "a strong signal" of the Kurdistan Region's economic potential. Meanwhile, Shukri highlighted the incentives available to foreign investors, while U.S. Consul General Wendy Green underscored the importance of public-private partnerships in promoting sustainable economic growth.

The 2025 visit concluded with a tour of the historic Erbil Citadel, symbolizing the deepening relationship between the United States and the Kurdistan Region, a partnership that extends beyond trade and investment to include cultural and people-to-people ties.

The arrival of the new American delegation reflects the KRG's continuing efforts to attract international investors and position the Kurdistan Region as a regional hub for strategic investment and economic development. link

Tishwash:  Abu Kalal: We are keen to support foreign companies operating in the oil sector.

The head of the Media and Communications Commission, Baligh Abu Kalal, affirmed the commission’s commitment to supporting foreign companies operating in the oil sector, based on the importance of this sector in supporting the national economy and promoting development.

A statement issued by the Media and Communications Commission (MCC) and received by Al-Furat News indicated that its Executive Director, Baligh Abu Kalal, met with Ni Chuan, President of PetroChina International in Iraq, the operator of the West Qurna/1 oil field, to discuss several files of mutual interest in the technical and regulatory fields.

During the meeting, Abu Kalal emphasized the MCC's commitment to supporting foreign companies operating in the oil sector, given the sector's importance in bolstering the national economy and promoting development. He also noted the Commission's dedication to providing a stable and flexible regulatory environment that supports investment and facilitates the operations of companies working in Iraq.

The statement added that the meeting also addressed ways to enhance cooperation in training, capacity building, and knowledge transfer, particularly in artificial intelligence and cybersecurity technologies, to develop national expertise and keep pace with rapid technological advancements.

He continued, "Opportunities for cooperation within the framework of the company's social benefit programs were also discussed, particularly initiatives related to the communications, media and information technology sectors, which contribute to supporting development projects, building capacities and enhancing the use of modern technologies in the service of society. Both sides emphasized the importance of strengthening technical partnerships and exchanging experiences in a way that serves the goals of sustainable development and supports technological development projects in Iraq."  link

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Tishwash:  United Nations: The four Iraqi presidencies agree on ensuring a decent life for all citizens.

The UN Assistant Secretary-General and Regional Director of the United Nations Development Programme for Arab States, Abdullah Al-Dardari, confirmed on Monday that the four Iraqi presidencies are in agreement on fighting corruption and adopting a competitive economy to ensure a decent life for all citizens.

Al-Dardari said during a roundtable discussion with several media outlets: "During my visit to Iraq, I had the honor of meeting with the four presidencies and a number of ministers," indicating that "this is evidence of interest in what the United Nations program can offer to Iraq."

He added, "I listened to integrated and consistent visions among the four presidencies regarding the need to move to a strong, competitive Iraq that ensures a decent life for all citizens and public services, with an economy that is not based solely on rent-seeking, but on competitiveness, while fighting corruption, reforming and developing the social protection system, and reforming the support system, as it does not satisfy the citizen and public finances in its current form."

Al-Dardari emphasized, "I was surprised by the depth and breadth of the vision, and most importantly, the strong political consensus among the four presidencies regarding this vision and the boldness in confronting it," noting that "any government that confronts corruption, subsidies, arms control, social protection management, and economic diversification simultaneously is a testament to the boldness of its approach, and we cannot remain as we are."  link

Iraq Economic News and Points To Ponder Monday Evening 6-15-26

Oil Accounts For 84% Of Iraq's Revenues In Early 2026

2026-06-15 Shafaq News- Baghdad   Oil revenues totaled 26.121 trillion Iraqi dinars ($17B), accounting for 84% of Iraq's total income of 31.163 trillion dinars ($20B) during the first four months of 2026, according to federal government state accounts through April.

Actual spending reached 37.835 trillion dinars ($25B) during the January-April period, leaving a budget deficit of 6.672 trillion dinars ($5B). Non-oil income stood at 5.041 trillion dinars ($4B), representing the remaining 16% of total revenues.

Current expenditures amounted to 36.444 trillion dinars ($24B), while investment spending reached 1.391 trillion dinars ($902M).

Iraq, OPEC's second-largest oil producer, relies on crude exports for about 90% of federal income, a dependence that has come under pressure after the war in Iran disrupted shipping through the Strait of Hormuz, which carries around 20% of global oil supplies. In late March, economic expert Nabil Al-Marsoumi estimated that Iraq had reduced production by around 2.9 million barrels per day, the steepest cut among OPEC members.

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

https://www.shafaq.com/en/Economy/Oil-accounts-for-84-of-Iraq-s-revenues-in-early-2026

Financial Crisis And A Missing Budget... The Economy Is On The Brink Of Collapse

Information/Report..   The financial situation in Iraq is witnessing escalating challenges in light of the continued pressure on the general budget and the delay in its approval, which raises concerns about the repercussions on the financing of service projects and basic government obligations, at a time when calls are increasing to adopt economic reforms and diversify sources of income to reduce dependence on oil.

In this regard, economic analyst Muayad Al-Ali confirmed in a statement to Al-Maalouma Agency that “the current government is facing increasing financial pressures with regard to financing service and investment projects, in addition to its basic obligations such as employee salaries,” indicating that “this reality poses real challenges to its ability to implement its development programs without affecting financial stability.”

He added that “continuing to rely on oil as the sole source of income makes the Iraqi economy vulnerable to global fluctuations, which necessitates a serious move towards diversifying revenue sources and activating other productive sectors.”

Al-Ali pointed out that “combating corruption and recovering looted funds are a fundamental pillar for improving the financial situation, along with the need to set clear priorities in government spending and focus on service projects that have a direct impact on the lives of citizens.”

He warned that “any expansion of internal or external borrowing without careful study could put pressure on the country’s economic and political decision-making,” stressing that “maintaining financial reserves is an important priority at the present stage.”

He concluded by saying that “the government’s success in the financial file depends on its ability to achieve a balance between securing salaries and financing projects, while adopting a more diversified and sustainable economic policy.”

In the same context, Hussein Al-Daraji, a member of the parliamentary finance committee, stated to Al-Maalouma News Agency that "the current data does not indicate the possibility of approving the general budget during the current year in light of the existing financial and economic challenges."

He added that "the parliamentary finance committee will begin holding intensive meetings during the next legislative session to study suitable alternatives through which the continued funding of state institutions and the covering of necessary expenses can be ensured."

He noted that "the next phase requires developing financial and economic solutions that are appropriate to the current reality and ensure the continued fulfillment of government and service obligations."

He affirmed that "the Finance Committee will work in coordination with relevant authorities to arrive at realistic solutions that contribute to overcoming the existing financial challenges."

It should be noted that the next phase requires more realistic financial and economic measures to ensure the continued funding of state institutions and the coverage of necessary expenditures, along with the need to proceed with structural reforms that contribute to strengthening financial stability and reducing dependence on oil resources as the sole source of revenue. End/25s

https://almaalomah.me/news/135647/report/أزمة-مالية-وموازنة-غائبة-الاقتصاد-على-حافة-الهاوية

Iraq: Between Oil Abundance And Financial Deficit... Calls For Economic Reform

Information/Report...   The Iraqi economy faces a stark paradox that raises many questions in political and public circles. Despite the massive financial inflows resulting from oil sales, official indicators still point to a budget deficit and difficulties in securing public funds. This reality has placed the country's fiscal policy under intense scrutiny, amid escalating warnings about the lack of oversight and the squandering of revenues. Simultaneously, the door has been closed to easy and dangerous solutions such as printing money, leaving the government with only one option: comprehensive structural reform.

 In this regard, former MP Abdul Qadir Muhammad confirmed in a statement to Al-Maalouma Agency that “Iraq witnessed large financial inflows from oil sales that were supposed to be reflected in the service and economic reality, but the weakness of financial management and the absence of oversight contributed to the failure to achieve the desired results.”

He added that “the continued talk about financial difficulties in securing public expenditures reveals the existence of financial waste and weakness in coordination mechanisms between state institutions, which has led to the continuation of the deficit gap despite the available resources.”

He pointed out that “addressing the financial crisis requires tightening control procedures, rearranging public spending priorities, and reducing financial waste, in order to ensure optimal utilization of oil revenues.”

Mohammed concluded by saying that “excessive reliance on oil without genuine economic reforms will keep the economy vulnerable to fluctuations and hinder the government’s ability to achieve sustainable financial stability.” 

In the same context, economic expert Rashid Al-Saadi confirmed in a statement to Al-Maalouma Agency that “the Central Bank cannot print new paper currency to address the financial deficit that the country is experiencing, and its role, according to the prevailing law, is limited to printing replacement currency for torn and worn banknotes, as well as compensating for internal commissions.”

He added that “the Central Bank of Iraq did not resort to printing new paper currency, as this step is considered a violation of Law No. 56 of 2004,” explaining that “the bank relies on a global economic plan to raise the country’s economy according to the prevailing perspective, without the need to resort to printing new currency for fear of experiencing a financial setback.”

Al-Saadi explained that “the country’s economy will recover in the coming period and regain its economic standing without the need for external borrowing.”

Experts believe that escaping the cycle of recurring financial crises lies not in temporary fixes or measures that violate banking laws, but rather in an administrative revolution that controls public spending and curbs waste.

The recovery of the Iraqi economy and avoiding the trap of external borrowing remain contingent on the seriousness of institutions in reducing their dependence on oil and transforming financial surpluses into tangible development projects that improve the quality of services provided to citizens. End/25

https://almaalomah.me/news/135735/report/العراق-بين-الوفرة-النفطية-والعجز-المالي-دعوات-لإصلاح-الاقتصا

Standard & Poor's: The Iraqi Economy Is Moving Steadily Towards Strengthening Financial Sustainability Despite Regional Challenges

Baghdad/ NINA / Standard & Poor's (S&P) credit rating agency issued its June 2026 report, confirming Iraq's rating at (B-/B) and removing the previously assigned credit watch.

The agency stated in its report that "the Iraqi economy is steadily progressing towards strengthening fiscal sustainability despite regional challenges."

It also predicted that "increased oil production during 2026 will be a crucial support for Iraq in the face of global price volatility and surrounding geopolitical tensions." The agency

commended the Iraqi authorities' efforts to redirect some oil export channels following recent events and diversify export routes after Cabinet approval, as part of plans aimed at increasing oil exports and diversifying the country's electricity and gas sources. This has led to investments in power plants and liquefied natural gas during 2025.

The agency also predicted a gradual and sustained recovery in oil production and exports in the second half of the year, with Iraq's real GDP expected to rise by about 13% in 2027.

According to the report, large international reserves, in addition to liquid assets directly available to the government (estimated at about 11% of GDP, including foreign deposits), will provide Iraq with some flexibility, including the ability to meet its debt obligations in both local and foreign currencies on time and in full.  

https://www.ninanews.com/Website/News/Details?key=1301511

Seeds of Wisdom RV and Economics Updates Monday Evening 6-15-26

Good Evening Dinar Recaps,

CLARITY Act Nears Senate Vote as Crypto Industry Pushes for Regulatory Breakthrough

Lawmakers, regulators, and industry leaders prepare for a pivotal Chicago summit that could shape the future of U.S. digital asset regulation.

Overview

• Momentum is building for the CLARITY Act as lawmakers and crypto industry leaders signal that the legislation may soon reach the U.S. Senate floor for a vote.

• A high-level summit in Chicago will bring together policymakers, regulators, investors, and blockchain leaders to discuss the future of digital asset regulation and possible revisions to the bill.

• Industry advocates are urging Congress to preserve key protections for blockchain developers, warning that weakening the legislation could drive innovation and investment overseas.

Key Developments

1.The CLARITY Act is moving closer to a Senate floor vote, with growing optimism among lawmakers and the digital asset industry despite remaining negotiations.

2.The Blockchain Regulatory Certainty Act (BRCA) remains one of the bill's most important provisions, protecting non-custodial developers, validators, and node operators from being classified as money transmitters.

3.Representative Dusty Johnson is expected to address the Chicago summit and discuss how House lawmakers view potential Senate amendments before final legislation advances.

Why It Matters

The CLARITY Act represents one of the most significant attempts to establish a clear regulatory framework for digital assets in the United States. By defining regulatory responsibilities and clarifying legal protections for blockchain participants, the legislation seeks to provide greater certainty for businesses, investors, and developers.

Supporters argue that regulatory clarity would encourage investment, innovation, and job creation, while helping the United States remain competitive in the rapidly evolving global digital asset economy.

Why It Matters to Foreign Currency Holders

Many observers view blockchain technology, tokenized assets, and regulated digital currencies as important components of the future financial system. Although the CLARITY Act does not involve foreign currency revaluations, it could strengthen the legal foundation for digital financial infrastructure that may eventually support faster cross-border payments, tokenized markets, and evolving international settlement systems.

For those following broader monetary changes, the legislation represents another step toward the modernization of global finance.

Implications for the Global Reset

Pillar 1: Technology

The CLARITY Act supports the development of regulated blockchain infrastructure, helping establish legal certainty for digital assets and encouraging innovation within the U.S. financial system.

• Pillar 2: Financial Infrastructure

Clear digital asset regulations could accelerate the adoption of tokenized financial markets, blockchain-based settlement systems, and next-generation payment networks, all of which are important building blocks in the ongoing modernization of global finance.

Looking Ahead

Attention now turns to the upcoming Chicago summit and subsequent Senate negotiations. Lawmakers must still resolve outstanding issues involving the BRCA, ethics provisions, and crypto crime enforcement before scheduling a final Senate vote.

If the legislation advances, it could become one of the most consequential U.S. financial regulatory reforms affecting digital assets, blockchain innovation, and the future competitiveness of the American financial system.

This is not just politics — it's global finance restructuring before our eyes.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• CoinGape — "CLARITY Act Nears Senate Floor Vote As Lawmakers & Industry Set To Meet In Chicago"

• Reuters — Coverage of U.S. cryptocurrency regulation and digital asset policy developments

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