Sunday Iraq News Posted by Tishwash at TNT 6-14-2026
TNT:
Tishwash: Standard & Poor's affirms Iraq's sovereign rating and removes it from negative watch.
Standard & Poor's Global Ratings affirmed Iraq's sovereign rating at "B-/B" and removed the long-term rating from its negative watch list.
The agency gave a negative outlook, citing the 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 the potential for damage to infrastructure.
Iraq’s economy remains heavily dependent on the oil sector, which means it is suffering greatly from the decline in crude exports through the strategic waterway, according to Reuters.
TNT:
Tishwash: Standard & Poor's affirms Iraq's sovereign rating and removes it from negative watch.
Standard & Poor's Global Ratings affirmed Iraq's sovereign rating at "B-/B" and removed the long-term rating from its negative watch list.
The agency gave a negative outlook, citing the 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 the potential for damage to infrastructure.
Iraq’s economy remains heavily dependent on the oil sector, which means it is suffering greatly from the decline in crude exports through the strategic waterway, according to Reuters.
The agency predicted that oil production would average 2.9 million barrels per day for the entire year in 2026, down about 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.
The agency said that given that oil flows constitute more than 90% of budget revenues and merchandise exports, Iraq’s financial situation and balance of payments are likely to remain under pressure this year, forecasting a 15% contraction in real GDP this year.
Higher average oil prices during 2026 would provide some support for fiscal and external revenues, assuming oil exports gradually recover in the second half, which Standard & Poor's said 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 following a sharp drop in oil production linked to escalating conflict in the region. link
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Tishwash: The Development Fund: Will Al-Zaidi succeed in creating a new financing arm for Iraq?
Al-Mada/Mohammed Al-Obeidi:
The government's move to establish a "Development Fund" in Iraq is sparking widespread debate in economic and financial circles, given the country's financial crisis and the general budget's heavy reliance on oil revenues. While the government sees the project as an opportunity to attract investments and stimulate economic growth, experts are raising questions about its launch timing, funding mechanisms, and its ability to achieve its objectives under current financial pressures.
This move coincides with political and economic initiatives led by Prime Minister Ali Faleh Al-Zubaidi, who is seeking to garner domestic and international support for the fund as an investment platform aimed at financing infrastructure projects, creating jobs, and diversifying sources of economic growth away from traditional dependence on oil.
Government officials have spoken of international contributions and guarantees that could reach between $100 and $150 billion, in addition to hopes of attracting further investments and partnerships in the coming phase.
Regarding the Washington visit , financial and banking researcher Haider Al-Sheikh told Al-Mada that "the Development Fund is an investment fund based on contributions from foreign and Arab companies, and the government has set a minimum capital of $100 billion."
He added that “the Prime Minister’s upcoming visit to the United States could contribute to enhancing the project’s chances of success, particularly through meetings with representatives of American and foreign companies and inviting them to invest in Iraq.” He explained that “the entry of American companies could pave the way for more Arab and foreign companies to participate in investment projects through the Development Fund.”
Sheikh clarified that “the project is inherently investment-oriented, and the government’s role is to create a suitable environment for investors and enable them to implement projects, thereby contributing to stimulating the economy and expanding the investment base.” He pointed out that “the Fund is not primarily focused on direct operational spending, but rather aims to attract capital to productive and developmental projects.”
The idea of establishing a sovereign wealth fund or a development fund is not new to Iraq. In recent years, successive governments have proposed similar initiatives and ideas aimed at investing oil wealth, diversifying income sources, and promoting long-term investments.
However, most of these projects remained within the realm of official pronouncements and declarations, failing to materialize into effective institutions on the ground. This was due to challenges related to financial crises, mismanagement, fluctuating oil prices, high operating costs, and political and administrative disputes. Regarding the timing dilemma, economist Dirgham Muhammad believes that "the establishment of development funds or sovereign wealth funds is usually linked to the existence of financial surpluses after covering the needs of the general budget."
He added to Al-Mada that "the situation might be different if the funds are in the form of grants rather than loans," explaining that "grants allocated to sovereign wealth funds are conditional on directing them towards investment and developing investment portfolios with guaranteed returns, and not using them to finance operating expenses."
Experts point out that the success of any development fund of this size hinges on the nature of its funding sources, legal guarantees, governance, and management mechanisms, as well as the state's ability to provide a stable investment environment that attracts and retains capital. This comes at a time when Iraq faces challenges related to the budget deficit, fluctuating oil prices, and the need for structural reforms in economic management.
These proposals are made as the government has announced that the development fund will be an investment vehicle independent of the general budget, relying on international contributions and guarantees aimed at achieving economic stability through investment. This will be done in conjunction with efforts to reform financial management and adopt a program-based budget in coordination with international bodies and local institutions. link
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Tishwash: A strategic move: ExxonMobil opens the door to massive investments in Iraqi oil.
Baghdad/Al-Masalla Translation: ExxonMobil executives met with the new Iraqi Oil Minister, Basim Khudair.
The American giant had signed a preliminary agreement last year to develop the Majnoon field, which has a production capacity of 450,000 barrels per day, in addition to exploring the development of infrastructure for Iraq’s oil exports.
Since taking office last month, Khodair has called on American companies to resume trade talks that had begun under the previous government.
According to informed sources, the meeting took place in Baghdad on June 7, where the two sides discussed ways to expedite the implementation of the preliminary, non-binding agreement signed in October 2025 with the Basra Oil Company and the Iraqi State Oil Marketing Organization (SOMO). The agreement focuses on developing the giant Majnoon oil field, which holds estimated reserves of approximately 38 billion barrels, with the potential for a significant increase in production in subsequent phases.
The Majnoon oil field, one of the world's largest, is located in Basra Governorate in southern Iraq. The partnership aims to utilize cutting-edge technologies to improve recovery rates and reduce associated gas flaring, as well as upgrade export infrastructure including ports, pipelines, and storage facilities, and potentially explore joint marketing opportunities in Asian markets.
These talks come as part of a wave of major American companies returning to Iraq, such as Chevron, which is holding exclusive talks for the West Qurna 2 field, as part of the government's efforts to modernize the oil sector and offer more attractive investment terms.
The importance of strengthening cooperation for the Iraqi economy
Strengthening the partnership with ExxonMobil represents a vital strategic step for the Iraqi economy, which relies on oil for over 90% of its budget revenues. Iraq aims to increase its oil production to 6 million barrels per day by 2029, compared to approximately 4 million barrels currently, and the development of fields like Majnoon, through investments of billions of dollars, will contribute to achieving this goal.
This cooperation also helps modernize export infrastructure, reducing operational losses, increasing export capacity, and opening new markets. It brings advanced American technical expertise to improve production efficiency, develop associated gas for power generation, and reduce environmental emissions, thus supporting long-term economic diversification.
For its part, ExxonMobil sees Iraq as an opportunity to access large, inexpensive oil reserves, thus bolstering its global portfolio. Analysts emphasize that such agreements have both political and economic dimensions, as they strengthen Iraq's geopolitical balance and attract Western investments that contribute to stability and economic growth.
Negotiations are ongoing to transform the initial agreements into binding contracts, with a focus on ensuring mutually beneficial returns amidst security and administrative challenges. This cooperation is seen as part of a broader strategy to rebuild Iraq's energy sector and strengthen its position in the global market. link
Tishwash: Program budgeting in Iraq: Financial reform or a restructuring of the public spending system?
Iraq's move towards program budgeting reveals an attempt to rebuild the philosophy of public finance management by linking spending to results and objectives instead of the traditional distribution of allocations.
This trend comes at a time when the region is facing accelerating economic and regional challenges that require governments to adopt more flexible policies in managing resources, as Baghdad affirms that it continues to work on protecting financial stability and ensuring the financing of basic obligations, in parallel with preparing visions for future budgets that are compatible with local and international changes.
Finance Minister Faleh Sari announced during his talks with the US Chargé d'Affaires in Baghdad a government plan to prepare a program budget and gradually move away from the traditional system, which would raise the efficiency of spending and link allocations to performance and results, within the framework of a reform vision that enjoys the support of international institutions and seeks to develop the state’s financial management.
careful study
In this context, MP Hussein Al-Khafaji, a member of the Parliamentary Finance Committee, revealed that “the Finance Committee will discuss with the relevant executive authorities the various indicators and data related to the financial situation, in order to ensure that decisions are made based on accurate information and a comprehensive vision.”
He then explained that “there are important files related to strategic projects, contracts and government commitments that need careful study in order to maintain the continuity of work and serve the public interest.”
He added that “the upcoming meetings will provide a clearer picture of the financial path during the next stage, especially in light of the current economic conditions, which will help to formulate a realistic vision regarding the budget and government spending.”
Measuring results and achieving goals instead of simply distributing financial allocations
Observers believe that adopting a program budget represents a qualitative shift in public finance management, as it focuses on measuring results and achieving goals instead of merely distributing financial allocations. This contributes to raising the efficiency of government institutions, reducing waste, improving spending priorities, and enhancing transparency in the implementation of development projects and plans.
Experts also point out that the continued coordination between the government, the parliamentary finance committee and the central bank reflects the existence of an institutional path for managing the financial file, especially in light of the keenness to secure basic expenditures and protect economic stability, in parallel with reviewing spending priorities and developing financial planning tools to keep pace with current changes.
While technical discussions on the upcoming budget continue, the government appears to be moving forward with adopting structural reforms aimed at modernizing financial management, improving the efficiency of resource use, and creating a more sustainable environment for public spending, in order to ensure the continued implementation of vital projects, support basic services, and enhance confidence in the national economy during the next phase. link
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Tishwash: How is the economy being managed? Iraq is without a budget for the fourth time since 2003.
Iraq is entering an unprecedented financial phase, with increasing indications that the federal budget for 2026 will not be approved, at a time when the country is facing double pressures represented by the decline in oil revenues and the continuation of regional turmoil that has affected the movement of oil exports, which puts the government before the challenge of managing the economy through temporary spending rules for the fourth time since 2003.
Iraq is almost entirely dependent on oil revenues, which constitute more than 90% of public revenues, while public finances are facing increasing pressure after the failure to approve spending and revenue schedules, amid fears of the repercussions of this on investment projects, infrastructure, job opportunities and economic growth.
temporary spending
In this context, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, says that the financial policy during the year 2026 is still managed in accordance with the provisions of the Federal Financial Management Law No. 6 of 2019, especially Article 13, which allows spending at a rate of (1/12) per month of the expenses of the previous year in the event of a delay in approving the budget.
Saleh explained to Shafaq News Agency that this mechanism "enabled the continuity of public spending, especially salaries, wages, pensions and social welfare, in addition to financing basic investment expenditures and ongoing projects according to completion rates and available liquidity."
But Saleh acknowledges that public finances are facing increasing pressure as a result of geopolitical developments and fluctuations in global energy markets, which has impacted oil revenues as the main source of funding for the public treasury.
He indicates that the government is currently moving towards preparing the 2027 budget within a reform framework that focuses on the efficiency of public spending, rationalizing operational expenses, protecting social programs, and giving priority to economically viable projects, as well as diversifying revenues and promoting digital transformation and administrative reform.
This comes after about 16 months of no budget schedules being approved, at a time when the three-year budget for the years 2023, 2024 and 2025 represented the last integrated financial framework for government spending before it effectively ended at the end of 2025.
Suspended projects and postponed development
For his part, economist Diaa Al-Mohsen believes that the greatest impact of the absence of a budget will fall on investment spending, because the budget is not just a financial document, but a tool for managing the state’s economic and investment activity.
Al-Muhsin tells Shafaq News Agency that the absence of a budget practically means difficulty in launching new development projects or expanding infrastructure projects, including roads, bridges, schools, hospitals, electricity and water networks, as well as delays in government contracts.
He adds that ministries and governorates will gradually lose the ability to plan in the medium and long term, while the contribution of government spending to stimulating economic activity will decline, which will directly affect the contracting, industry, transport and services sectors.
These concerns coincide with previous parliamentary data that spoke of more than 4,500 stalled projects across Iraq, some of which have been halted for years, at a time when experts believe that the absence of a budget will add new projects to the long list of stalled projects.
Recruitment under pressure
The impact of the lack of a budget is not limited to investment projects, but extends to the government employment file, which represents one of the most prominent outlets for absorbing graduates in Iraq.
Al-Muhsin confirms that appointment opportunities will be very limited, with exceptions likely to be restricted to specific sectors such as health, education, and security services, warning that this will lead to increased social pressures in light of rising unemployment rates among young people.
For his part, economic researcher Ahmed Eid says that spending according to the (1/12) rule ensures the continuation of salaries and basic services, but it does not provide the necessary flexibility to launch new projects or expand investment spending.
Eid adds to Shafaq News Agency that the absence of a budget imposes a state of financial uncertainty and limits the government’s ability to implement its economic plans efficiently. It also negatively affects companies contracted with the state and local and foreign investors due to the lack of a clear vision for future projects.
Accumulating risks
Experts believe that the absence of a budget presents a financial paradox. On the one hand, it leads to a decline in investment spending, which may reduce the financial deficit in the short term, but on the other hand, it weakens economic growth and leads to a decline in non-oil revenues related to economic activity.
Al-Muhsin explains that the deficit may improve numerically as a result of lower capital expenditures, but the economy will pay the price later through a decrease in productive capacity, a decline in job opportunities, and the continued dominance of operating spending at the expense of productive investment.
This comes at a time when public finances are facing additional challenges related to declining oil exports and regional market turmoil, which increases the likelihood of resorting to domestic borrowing to finance essential expenditures.
difficult economic situation
Financial expert Mahmoud Dagher believes that the absence of a 2026 budget is different from previous cases witnessed by Iraq, explaining that the House of Representatives did not approve the spending and revenue schedules during 2025, which is an issue he describes as having great technical and legal importance when applying the (1/12) rule.
Dagher told Shafaq News Agency that the country is currently going through "the most difficult economic situation," adding that talking about appointments or expanding spending seems difficult at the present stage, because the priority is focused on securing salaries and some governing expenses by financing the deficit through the Central Bank.
He emphasizes that the main challenge is no longer achieving rapid economic growth, but rather reaching the highest levels of efficiency in spending and controlling expenditures to protect foreign reserves, which represent the primary line of defense for the stability of the Iraqi dinar and the financing of imports.
Public debt and borrowing
Concerns are growing about the impact of the absence of a budget on public debt levels, especially with continued pressure on oil revenues.
In this regard, Ahmed Eid says that the government may be forced to expand its domestic financing tools through levies, taxes and borrowing from local banks, warning that this path raises financial risks in the medium term if it is not accompanied by real reforms to control spending and enhance non-oil revenues.
These concerns are consistent with previous warnings issued by economic experts regarding the widening gap between revenues and expenditures, in light of the rise in domestic debt during the past months and the government's reliance on exceptional financing tools to cover its basic obligations.
Managing the economy without a budget
In theory, experts say the government can manage the country through temporary spending rules, but with limited efficiency.
Al-Muhsin asserts that these rules allow for the payment of salaries, the continuation of public services, and the financing of some ongoing projects, but they do not provide an effective framework for managing economic development, because investment decisions become restricted and economic planning loses its clarity, while investors and governorates face an increasing state of uncertainty.
He summarizes the matter by saying: "The state can be managed, but development is difficult to manage."
In contrast, economist Safwan Qusay calls for finding alternative sources of funding for investment projects outside the framework of the traditional budget.
Qusay tells Shafaq News Agency that continuing to spend according to the (1/12) rule is practically limited to operational expenses, which requires finding special mechanisms to finance investment projects through borrowing laws or partnerships with the private sector and investors.
It is proposed to expand the role of investment portfolios and investment bodies by offering infrastructure and service projects to investors in exchange for investment opportunities in the commercial, tourism and real estate sectors, in order to ensure the continuity of project funding and prevent its interruption. link
News, Rumors and Opinions Sunday 6-14-2026
KTFA:
Clare: Al-Monitor: Tom Barrack will visit Erbil and Baghdad
6/13/2026
The US President's Special Envoy to Syria and Iraq and Washington's Ambassador to Ankara, Tom Barrack, will begin a diplomatic and security tour next Monday that includes the federal capital Baghdad and the Kurdistan Region's capital Erbil. This is his first tour since assuming his official duties, and it aims to discuss disarmament issues and redraw energy trade routes in the region.
KTFA:
Clare: Al-Monitor: Tom Barrack will visit Erbil and Baghdad
6/13/2026
The US President's Special Envoy to Syria and Iraq and Washington's Ambassador to Ankara, Tom Barrack, will begin a diplomatic and security tour next Monday that includes the federal capital Baghdad and the Kurdistan Region's capital Erbil. This is his first tour since assuming his official duties, and it aims to discuss disarmament issues and redraw energy trade routes in the region.
A report published by the US website “Al-Monitor” on Friday, June 12, 2026, stated that Barak will hold extensive talks in Baghdad with Iraqi Prime Minister Ali al-Zaidi and senior political leaders, where the American side will focus on demanding the disbanding and disarmament of armed factions, especially those involved in the attacks that targeted American diplomats last April.
In his second stop scheduled for Tuesday, the US envoy will travel to Erbil for high-level meetings with President Masoud Barzani, Regional President Nechirvan Barzani, and Regional Government Prime Minister Masrour Barzani.
The report also revealed a prominent regional agenda that includes a planned meeting between Barak in Erbil with the commander-in-chief of the Syrian Democratic Forces (SDF), Mazloum Abdi.
These accelerated diplomatic moves come amid severe economic complications, as Iraqi oil exports have fallen to a record low of 3.3 million barrels to 600,000 barrels per day due to current tensions in the Strait of Hormuz and the repercussions of US sanctions.
Through this tour, Washington seeks to redirect Iraq’s energy and trade compass towards Turkey and Syria to reduce economic dependence on Tehran, as reflected in the preliminary meeting held by Barak with Turkish Foreign Minister Hakan Fidan before the start of his tour.
On the political front, observers cautiously noted the flexibility shown by the Sadrist movement and armed groups such as Asaib Ahl al-Haq regarding the handover of weapons, placing these steps within the framework of an Iranian tactic to maneuver and alleviate international pressures coinciding with the nuclear negotiations.
Barak’s tour is of great strategic importance given its timing, as Washington is accelerating its efforts to undermine Tehran’s regional influence in Iraq, ahead of the scheduled date for the complete withdrawal of US forces next September. LINK
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Tink: The events of the region determine the economic paths of Iraq. A financial crisis, a rise in prices and a change in the value of the dinar
Information/Report...
The events of the region directly affect the economic situation of Iraq, which is at the heart of the hurricane witnessed by the countries of the so-called Middle East, after the war invented by America against the Islamic Republic and the repercussions of this on the Strait of Hormuz, are all factors that may lead governments, especially in Iraq, to take decisions that mitigate the extent of the damage, but make the people pay the tax, by reducing the value of salaries in case of going towards devaluing the dinar, and following the policy of austerity and raising the amounts of fees in various sectors, which will harm the citizen.
“Everyone, whether in Iraq, its government and the rest of the world, is monitoring the developments of the current scene in the region, and awaits the outcome of the indirect negotiations between the American and Iranian sides,” says Imran Karkoush, a member of the State of Law Coalition.
He added that "the Iraqi economy has been affected by the developments in the region and military escalation, as Iraq is awaiting the results of negotiations between Washington and Tehran in order to restore the situation to what it was before in the Strait of Hormuz."
He pointed out that "Iraq was directly affected by the ongoing war in the region, as the government is waiting for the end of this file and closing it and work to strengthen relations within the region and build strong economic ties through the railway and commercial link between the countries of the region, Iraq and the world, as Iraq is currently in the heart of the storm and is directly affected by current events."
For his part, the economist Zia Al-Mohsen explained to /Al-Malma/, that "the government of Mustafa Al-Kazimi was the first to take the step of raising the exchange rate of the dollar against the Iraqi dinar under the pretext of providing financial liquidity and addressing the pressures on public revenues as a result of the repercussions of the Corona pandemic, and therefore any new economic measures must comply with the requirements of the local market and take into account the living conditions of citizens."
He added that "raising the exchange rate will lead to a decrease in the purchasing power of the citizen and weaken the real value of employees' salaries, in addition to causing a rise in the prices of goods and food, which reflects negatively on the standard of living of the Iraqi family."
Al-Mohsen pointed out that "addressing financial crises should not depend on burdening the citizen with additional burdens, but rather through the activation of productive economic sectors, foremost of which are the agricultural, industrial and manufacturing sectors, which contributes to diversifying sources of income and reducing dependence on oil revenues."
He pointed out that "the government may resort to other measures beyond raising the exchange rate, including reducing or canceling some forms of subsidies provided for fuel or food and medicine in order to increase public revenues," stressing that "such steps will be directly reflected on the citizen because they target his daily spending and living capacity."
On a related level, the political researcher Qassem Al-Tamimi said in his interview with /Al-Malama/, that "Iraq has internal debts of up to 90 billion dollars and foreign affairs of the limits of 30 billion dollars obtained by Iraq through borrowing due to the decline in cash flow inside."
He added that "there is a difficulty that the government will face in the process of controlling the dollar currency in local markets, especially since this currency is directly linked to the US Federal Bank, as Iraq depends on oil sales that reach the said bank before being sent to Baghdad."
He added that "Iraq suffers from many problems caused by the current situation in the region after the significant decline in oil sales, and this clearly affected securing liquidity, and therefore the Zaidi government faces a great challenge with regard to the financial and economic situation."
Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man They're not going to go out into the international markets without having an international accepted traded currency, not on an international scale. The dinar is not there at 1310...Iraq's full integration is becoming a reality.
Jeff The central bank of Iraq is never going to let the rate out. They can't. They can't even tell you the rate is going to increase ...They can tell you they have no intentions of devaluing the dinar, which they have and they could tell you if they are going to devalue the dinar. Those are the only two things they could tell you.
Mnt Goat Article: “PARLIAMENTARY COMMITTEE: THE 2026 BUDGET WILL BE BASED ON A “HEDGING” OIL PRICE OF AROUND $60" ...the budget is NOT based on the rate of the dinar... There will not be an RV rate to the dinar in the budget tables! ...the budget is based on the price of oil. This will continue until the dinar is repegged to a basket of currencies and back on FOREX. Until this timeframe they will continue to use the petro-dollar which is the price of oil...We are NOT going to get our RV because of the budget coming out...
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SILVER ALERT! It's Happening! Silver Riggers & Liars are TRAPPED! WHEN Will They BREAK?!
(Bix Weir) 6-14-2026
There are consequences to rigging the price of silver too low for too long and we are starting to see them NOW!
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Iraq Economic News and Points To Ponder Late Saturday Evening 6-13-26
The Events Of The Region Determine The Economic Paths Of Iraq. A Financial Crisis, A Rise In Prices And A Change In The Value Of The Dinar
12 Jun Information/Report... The events of the region directly affect the economic situation of Iraq, which is at the heart of the hurricane witnessed by the countries of the so-called Middle East, after the war invented by America and its Zionist entity against the Islamic Republic and the repercussions of this on the Strait of Hormuz, are all factors that may lead governments, especially in Iraq, to take decisions that mitigate the extent of the damage, but make the people pay the tax, by reducing the value of salaries in case of going towards devaluing the dinar, and following the policy of austerity and raising the amounts of fees in various sectors, which will harm the citizen.
The Events Of The Region Determine The Economic Paths Of Iraq. A Financial Crisis, A Rise In Prices And A Change In The Value Of The Dinar
12 Jun Information/Report... The events of the region directly affect the economic situation of Iraq, which is at the heart of the hurricane witnessed by the countries of the so-called Middle East, after the war invented by America and its Zionist entity against the Islamic Republic and the repercussions of this on the Strait of Hormuz, are all factors that may lead governments, especially in Iraq, to take decisions that mitigate the extent of the damage, but make the people pay the tax, by reducing the value of salaries in case of going towards devaluing the dinar, and following the policy of austerity and raising the amounts of fees in various sectors, which will harm the citizen.
“Everyone, whether in Iraq, its government and the rest of the world, is monitoring the developments of the current scene in the region, and awaits the outcome of the indirect negotiations between the American and Iranian sides,” says Imran Karkoush, a member of the State of Law Coalition.
He added that "the Iraqi economy has been affected by the developments in the region and military escalation, as Iraq is awaiting the results of negotiations between Washington and Tehran in order to restore the situation to what it was before in the Strait of Hormuz."
He pointed out that "Iraq was directly affected by the ongoing war in the region, as the government is waiting for the end of this file and closing it and work to strengthen relations within the region and build strong economic ties through the railway and commercial link between the countries of the region, Iraq and the world, as Iraq is currently in the heart of the storm and is directly affected by current events."
For his part, the economist Zia Al-Mohsen explained to /Al-Malma/, that "the government of Mustafa Al-Kazimi was the first to take the step of raising the exchange rate of the dollar against the Iraqi dinar under the pretext of providing financial liquidity and addressing the pressures on public revenues as a result of the repercussions of the Corona pandemic, and therefore any new economic measures must comply with the requirements of the local market and take into account the living conditions of citizens."
He added that "raising the exchange rate will lead to a decrease in the purchasing power of the citizen and weaken the real value of employees' salaries, in addition to causing a rise in the prices of goods and food, which reflects negatively on the standard of living of the Iraqi family."
Al-Mohsen pointed out that "addressing financial crises should not depend on burdening the citizen with additional burdens, but rather through the activation of productive economic sectors, foremost of which are the agricultural, industrial and manufacturing sectors, which contributes to diversifying sources of income and reducing dependence on oil revenues."
He pointed out that "the government may resort to other measures beyond raising the exchange rate, including reducing or canceling some forms of subsidies provided for fuel or food and medicine in order to increase public revenues," stressing that "such steps will be directly reflected on the citizen because they target his daily spending and living capacity."
On a related level, the political researcher Qassem Al-Tamimi said in his interview with /Al-Malama/, that "Iraq has internal debts of up to 90 billion dollars and foreign affairs of the limits of 30 billion dollars obtained by Iraq through borrowing due to the decline in cash flow inside."
He added that "there is a difficulty that the government will face in the process of controlling the dollar currency in local markets, especially since this currency is directly linked to the US Federal Bank, as Iraq depends on oil sales that reach the said bank before being sent to Baghdad."
He added that "Iraq suffers from many problems caused by the current situation in the region after the significant decline in oil sales, and this clearly affected securing liquidity, and therefore the Zaidi government faces a great challenge with regard to the financial and economic situation." https://almaalomah.me/news/135399/report/احداث-المنطقة-تحدد-المسارات-الاقتصادية-للعراق-ازمة-مالية-وار
Al-Karawi: There is currently no government intention to raise the exchange rate, and he warned of its repercussions on the markets.
Today The Information/Baghdad... Member of the Parliamentary Finance Committee, MP Mudhar al-Karawi, confirmed on Saturday that there is no current government intention to raise the exchange rate in the markets.
Al-Karawi told Al-Maalouma that "there is much speculation about government efforts to raise the dollar exchange rate in the coming period in an attempt to reduce the financial gap, especially given the country's critical financial situation."
He explained that "the past three months have witnessed a significant decline in oil export rates, which has had severe repercussions on the general budget."
He added that "to this moment, no official discussion has taken place regarding the possibility of raising the dollar exchange rate to reduce the financial gap," noting that "any decision in this direction will have direct repercussions on the markets in terms of price increases, and the poor and those with limited incomes will be the most affected."
Al-Karawi indicated that “there is no current direction in this regard,” stressing that “there are other alternatives to boost treasury revenues, foremost among them activating non-oil revenues and combating corruption, which is a crucial factor in reducing the waste of enormous sums of money within state institutions.”
https://almaalomah.me/news/135537/economy/الكروي:-لا-توجه-حكومي-حاليا-لرفع-سعر-الصرف-وتحذير-من-ارتدادا
Billions evaporate monthly... How is Iraq coping with the shock of declining oil exports?
Today Information / Report... Recent regional developments and the accompanying turmoil in global energy markets have brought the issue of Iraq's dependence on oil back to the forefront of economic debate, amid warnings of potential financial repercussions on the general budget and the state's ability to meet its obligations.
Meanwhile, experts assert that current cash reserves still provide a safety net, preventing the crisis from escalating into a full-blown financial collapse.
Iraq relies almost entirely on oil revenues to finance its public expenditures, with oil revenues constituting more than 90 percent of budget resources. This means that any decline in exports or global prices directly impacts the country's financial and economic situation.
In this context, economist Faleh al-Zubaidi warned of the serious consequences of declining oil exports, emphasizing that financial losses range between $250 and $300 million daily, while monthly losses reach approximately $7 billion, in addition to a monthly budget deficit approaching $5 billion due to the drop in oil revenues.
These figures reveal the magnitude of the challenge facing the Iraqi government. A prolonged decline in oil revenues could place increasing pressure on public spending, particularly given the rising costs of salaries, social welfare, and public services, all of which rely heavily on oil revenues.
Al-Zubaidi also pointed to a drop in oil exports of approximately 3 million barrels per day and a decrease in production from 4.3 million barrels per day to about 1.4 million barrels per day, allocated for domestic consumption and refining. This means Iraq has lost between 85 and 89 percent of its usual oil exports, a development described by observers as one of the most serious challenges facing the Iraqi economy in years.
For his part, MP Basim al-Gharabi warned of the repercussions of regional and international tensions on the national economy, emphasizing that the general budget's reliance on oil has made Iraq more vulnerable to external shocks and global economic fluctuations.
Al-Gharabi believes that the failure of successive governments to diversify national revenue sources has contributed to keeping the Iraqi economy hostage to international variables and energy markets.
These concerns are reinforced by reports indicating a decline in Iraqi oil exports of between 2.5 and 3 million barrels per day compared to normal levels, raising questions about the state's ability to maintain current spending levels if the crisis persists.
In contrast, financial expert and former Central Bank board member Ahmed Barhi offers a more optimistic view, asserting that Iraq possesses foreign currency reserves that enable it to weather the current crisis without resorting to external borrowing in the near term. He points out that these reserves provide a significant financial buffer that helps the government address the temporary challenges resulting from the decline in oil revenues.
However, economists believe that while these foreign currency reserves are important, they do not represent a permanent solution to the problem.
Rather, they serve as a means to absorb temporary shocks, while the fundamental solution remains linked to restructuring the Iraqi economy and diversifying income sources by supporting the industrial, agricultural, and investment sectors and developing non-oil revenues.
The current crisis reaffirms that the Iraqi economy continues to face a structural challenge: its over-reliance on oil.
This makes any regional tension or disruption in global energy markets a rapid and direct threat to financial and economic stability.
Amid warnings of a widening fiscal deficit and assurances regarding the strength of foreign currency reserves, the future of the Iraqi economy remains contingent on policymakers' ability to leverage this crisis as an opportunity to transition towards a more diversified economy, less dependent on the volatility of the global oil market. End / 25
Al-Zaydi's Advisor: No Return To Rentier Budgets, New Plans To Diversify Income Sources - Urgent
Baghdad Today – Baghdad On Saturday (June 13, 2026), the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, expressed his optimism about a plan developed by Prime Minister Ali al-Zidi to diversify the country’s sources of income, indicating that al-Zidi confirmed that there is no going back to the rentier budget that depends on selling oil.
Saleh told Baghdad Today, “It is shameful that we still import some oil derivatives to this day, in addition to our reliance on selling crude oil, at a time when, if a barrel of crude oil were to be put into manufacturing and conversion processes into petroleum products, its value could rise to nearly seven times its price.”
He added that "the price of a single barrel, after being converted into petroleum products, could exceed $400, which would boost the financial revenues of the Iraqi state's general budget."
Saleh pointed out that "the Prime Minister, as a son of the economic sector, will proceed with activating the various economic aspects in the country, and the economic mindset will change, as President Al-Zidi has a youthful vision, and will proceed with plans capable of reviving the economy of the Iraqi citizen, which is the least that the citizen deserves."
The Iraqi economy relies mainly on oil revenues, which constitute the largest share of the general budget resources, while Iraq continues to import part of its needs for oil derivatives despite having large oil reserves.
Over the past years, successive governments have put forward plans to develop the refining and petrochemical industries with the aim of increasing the added value of crude oil and reducing dependence on imports.
https://baghdadtoday.news/301318-.html
Iraq Is Moving Towards Balancing Programs With US Support And In Coordination With The World Bank.
Money and Business Economy News – Baghdad Finance Minister Faleh Sari discussed on Wednesday with the US Chargé d'Affaires to Iraq, Joshua Harris, prospects for economic cooperation between Baghdad and Washington and ways to strengthen the partnership with US financial institutions, while both sides affirmed their support for the path of economic and financial reforms.
The Ministry of Finance said in a statement received by "Al-Eqtisad News" that the minister stressed that the government has given the economic file high priority within its program, noting that the next stage will witness reforms aimed at addressing economic and financial challenges in a radical way, and in cooperation with international partners.
The minister revealed a government trend towards preparing a program budget and gradually moving away from the traditional budget system, with the aim of raising the efficiency of spending and linking financial allocations to goals and results, in line with the requirements of financial and administrative reform.
For his part, the US Chargé d'Affaires affirmed his country's support for the Iraqi government and its readiness to enhance economic and financial cooperation, in a way that contributes to supporting stability and achieving sustainable economic growth in Iraq.
This trend coincides with what the government spokesman, Haider al-Aboudi, announced, that the Council of Ministers approved a directive to proceed with drafting a "program budget" in coordination with the World Bank and the Parliamentary Finance Committee, within the framework of economic reform.
العراق يتجه لموازنة برامج بدعم أميركي وبالتنسيق مع البنك الدولي
Seeds of Wisdom RV and Economics Updates Sunday Morning 6-14-26
Good Morning Dinar Recaps,
US-Iran Peace Framework Nears as Trump Targets Agreement, Strait of Hormuz Reopening
Diplomatic negotiations between the United States and Iran appear to be entering their final phase, with a framework agreement reportedly close despite continued disagreements over timing.
Good Morning Dinar Recaps,
US-Iran Peace Framework Nears as Trump Targets Agreement, Strait of Hormuz Reopening
Diplomatic negotiations between the United States and Iran appear to be entering their final phase, with a framework agreement reportedly close despite continued disagreements over timing.
Overview
The United States and Iran are reportedly close to a framework agreement that could end months of military conflict and reopen the strategically vital Strait of Hormuz.
President Donald Trump and Pakistani officials expect an agreement soon, while Iranian officials say additional political and technical reviews are still underway.
The proposed framework would launch broader nuclear negotiations, potentially easing sanctions and reducing geopolitical pressure on global energy markets.
Key Developments
1. Framework Agreement Appears Close
U.S. officials, supported by Pakistani mediators, say negotiators have largely agreed on a framework intended to end months of fighting between the United States and Iran. President Trump stated that the agreement was expected to be signed quickly, while Pakistan confirmed preparations for an electronic signing followed by technical negotiations.
Iran, however, has emphasized that no final approval has yet been granted, stating that legal, political, and technical reviews remain ongoing before any formal agreement is signed.
2. Strait of Hormuz Could Reopen
One of the most significant elements of the proposed framework is the reopening of the Strait of Hormuz, through which roughly one-fifth of the world's seaborne oil passes.
If implemented, reopening the waterway would likely reduce pressure on global energy markets, improve shipping flows, and ease concerns over supply disruptions that have fueled oil price volatility during the conflict.
3. Nuclear Negotiations Would Follow
Rather than immediately resolving Iran's nuclear program, the framework reportedly establishes a 60-day negotiation period focused on nuclear issues.
Topics expected to be addressed include Iran's enriched uranium stockpile, future inspection mechanisms, sanctions relief, and broader security arrangements between the two nations.
Why It Matters
This agreement could represent one of the most important geopolitical developments of the year. Beyond ending active military conflict, it has the potential to stabilize global energy markets, reduce inflationary pressures linked to higher oil prices, and lower geopolitical risk premiums affecting currencies, commodities, and financial markets.
While significant obstacles remain, even a preliminary agreement could improve investor confidence and reduce uncertainty surrounding Middle East trade routes.
Why It Matters to Foreign Currency Holders
For those watching the Global Currency Reset (GCR) and international monetary developments, this story deserves close attention.
Lower geopolitical risk could stabilize oil prices, influence inflation expectations, and affect future interest-rate decisions by major central banks. A reopening of the Strait of Hormuz would also strengthen global trade flows, supporting broader discussions surrounding international payment systems, reserve diversification, and financial restructuring.
Implications for the Global Reset
Pillar 1: Energy
Restoring normal shipping through the Strait of Hormuz would improve global energy security and reduce supply-chain disruptions.
Pillar 1: Trade & Finance
Reduced geopolitical tensions could encourage greater international investment, stabilize foreign exchange markets, and support ongoing reforms in cross-border payment systems.
This is not just geopolitics—it is global financial restructuring before our eyes.
Seeds of Wisdom Team
Newshounds News™ Exclusive
Sources
Reuters — "US, Iran Inch Closer to Deal, Trump Says Sunday but Timing Remains Unclear"
Modern Diplomacy — "US-Iran Deal Nears as Trump Eyes Sunday Agreement"
~~~~~~~~~~
🌱 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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Jon Dowling: Weekly RV Report and Financial Updates for June 12th, 2026
Jon Dowling: Weekly RV Report and Financial Updates for June 12th, 2026
6-12-2026
The weekly RV report for Friday, June 12th, 2026, offered a comprehensive look at the intersection of global finance, geopolitics, and spiritual discernment.
As the world navigates an increasingly complex landscape, the report underscored the necessity of approaching information with a balanced perspective.
Jon Dowling: Weekly RV Report and Financial Updates for June 12th, 2026
6-12-2026
The weekly RV report for Friday, June 12th, 2026, offered a comprehensive look at the intersection of global finance, geopolitics, and spiritual discernment.
As the world navigates an increasingly complex landscape, the report underscored the necessity of approaching information with a balanced perspective.
Central to the discussion was the evolving political situation in Iraq, where Prime Minister Al-Zaidi’s efforts to establish a stable cabinet and address internal regional influences are seen as pivotal. These developments are not occurring in a vacuum; they are closely tied to broader peace negotiations involving the U.S., Iran, and Israel, which could have a stabilizing effect on the global stage.
Economic policy remains a primary focus for investors, particularly with the upcoming Federal Open Market Committee (FOMC) meeting led by Kevin Warsh.
The report highlighted an anticipated shift toward a more accommodative monetary policy, including the potential for lowering interest rates and a return to quantitative easing. Such a pivot is historically significant for the commodities market, often serving as a catalyst for gold, silver, and digital assets. Despite the volatility seen earlier in the year, the current climate is being viewed by some as a strategic window to capitalize on market dips in anticipation of long-term shifts.
The report also shed light on the diversification strategies of prominent figures and nations.
Discussion centered on high-profile investors like Warren Buffett and President Trump exploring foreign currencies, including the Japanese yen, the Vietnamese dong, and the Iraqi dinar.
This trend aligns with a broader movement in international finance, exemplified by Japan’s reported transition away from traditional US Treasury notes toward gold-backed assets. These shifts suggest a fundamental re-evaluation of global reserve assets and the mechanisms that underpin international trade.
Beyond the numbers and charts, the report delved into the socioeconomic and spiritual undercurrents of the current era.
It touched upon ongoing legal and social advocacy, such as the support for Tina Peters regarding election integrity. Furthermore, it framed the current global turmoil within a spiritual context, drawing on the teachings of figures like Kim Clement.
The host emphasized a message of resilience and ultimate victory, suggesting that while the world faces significant challenges, there is a larger purpose and a path toward restoration that transcends modern conflict.
To conclude, the report utilized a powerful historical artifact—an original Zimbabwe $100 trillion note—to serve as a sobering reminder of the transient nature of fiat currency.
This symbol of past economic crisis underscores the importance of financial education and the pursuit of tangible value in an unpredictable world.
For those looking to dive deeper into these geopolitical and financial forecasts, the full video by Jon Dowling provides a detailed roadmap of the developments expected to shape the remainder of 2026.
Saturday News Posted by Tishwash at TNT 6-13-2026
TNT:
Tishwash: Government: World Bank delegation arrives in Baghdad next week to prepare program budget
Iraqi government spokesman Haider al-Aboudi revealed on Friday (June 12, 2026) that a delegation from the World Bank will arrive in Baghdad next week to complete the requirements for preparing the program budget, enabling Iraq to move towards adopting a budget capable of facing current and future economic challenges.
Al-Aboudi told Baghdad Today that “next week will witness the arrival of a delegation from the World Bank to complete the requirements for preparing a program budget through which Iraq can proceed with preparing a program budget that can meet the challenges,” indicating that “Prime Minister Ali Falih Al-Zaidi places the economic aspect among his top priorities.”
TNT:
Tishwash: Government: World Bank delegation arrives in Baghdad next week to prepare program budget
Iraqi government spokesman Haider al-Aboudi revealed on Friday (June 12, 2026) that a delegation from the World Bank will arrive in Baghdad next week to complete the requirements for preparing the program budget, enabling Iraq to move towards adopting a budget capable of facing current and future economic challenges.
Al-Aboudi told Baghdad Today that “next week will witness the arrival of a delegation from the World Bank to complete the requirements for preparing a program budget through which Iraq can proceed with preparing a program budget that can meet the challenges,” indicating that “Prime Minister Ali Falih Al-Zaidi places the economic aspect among his top priorities.”
He added, "The World Bank delegation will work with the Ministry of Finance on economic reforms based on sound constitutional principles that address many sectors such as industry, agriculture, education, and others. Since the government took office after gaining the confidence of Parliament, the focus has been on empowering state institutions to improve their work."
He pointed out that "the government and the Prime Minister's vision is to support the Financial and Economic Council in order to work on building a financial and economic system to face current and future challenges."
Over the past years, the Iraqi economy has faced multiple challenges, most notably fluctuations in oil prices, the expansion of operational spending, and pressures to provide job opportunities and improve services, which has prompted government agencies to search for more effective financial and administrative tools to control economic performance. link
************
Tishwash: 46% non-oil: An ambitious goal for restructuring Iraq's finances
The advisor to the Prime Minister for Financial and Economic Affairs, Mazhar Muhammad Saleh, affirmed that the government program represents an integrated strategic framework for achieving financial and economic diversification, and aims to reduce dependence on oil by enhancing non-oil revenues and expanding the productive base of the national economy.
Saleh added in a special statement to “ Al-Jarida ” that these trends fall within the “Iraq 2050” vision, which is based on reforming public finances and consolidating the principles of a social market economy, in order to achieve a balance between the developmental role of the state and the effectiveness of the market and the private sector, and to establish a long-term structural transformation in the Iraqi economy.
He explained that the vision requires an integrated reform and legislative framework that establishes the foundations of sustainability, efficiency and flexibility in fiscal policy, noting that one of its most prominent goals is to raise the contribution of non-oil revenues to the general budget to no less than 46% of total revenues by 2050, which will enhance financial sustainability and reduce the impact of fluctuations in global oil markets.
He pointed out that the government plan also aims to increase the private sector’s contribution to GDP compared to current levels, reflecting the Iraqi economy’s shift to a model that relies more on investment, individual initiative, job creation, and stimulating sustainable growth.
Saleh explained that achieving these goals will be through activating the national strategy for developing the private sector, and implementing institutional, legislative and regulatory reforms that contribute to improving the business environment, enhancing competitiveness and expanding the base of local and foreign investment.
He stressed that the Market Development Council will play a pivotal role in regulating market institutions according to the principles of governance, transparency and efficiency, creating an attractive investment environment, as well as supporting private sector-led projects in the manufacturing, agriculture, logistics and digital economy sectors.
He concluded by saying that this approach aims to build integration between reforming the financial sector and developing the productive sectors, which will contribute to reducing the rentier nature of the Iraqi economy and establishing a development model based on productivity, competitiveness and partnership between the state and the private sector, leading to building a diversified and sustainable economy that achieves prosperity by 2050. link
************
Tishwash: Despite financial reform efforts, Iraqis still hold billions of dinars outside of banks.
Reforming the banking sector represents one of the most prominent economic challenges facing Iraq at the present stage, given the need to build a financial system capable of supporting development, stimulating investment, and enhancing trust between citizens and banking institutions.
Despite the expansion of loan and credit programs over the past years, challenges related to oversight, governance, transparency, and limited reliance on digital technologies continue to hinder the achievement of the desired goals.
Experts have confirmed that the success of any banking reform requires moving from traditional treatments to a modern system that relies on digitization, effective supervision, and the development of the legislative and credit infrastructure to ensure the sustainability of financing and reduce risks. Economic expert Ahmed Al-Tamimi believes that this success depends on adopting a comprehensive reform program that is not limited to administrative procedures, but extends to modernizing the legislative, supervisory, and technological infrastructure of both government and private banks.
Al-Tamimi told Baghdad Today on Friday (June 12, 2026) that “the crisis of advances and loans granted to citizens is not only related to the size of the available funding, but also to the mechanisms for granting loans, following up on them, and evaluating the creditworthiness of borrowers. Addressing this crisis requires the establishment of unified databases for borrowers and the development of a modern credit rating system that reduces cases of default and ensures that funding is directed to those who are eligible and able to repay.”
He explained that “achieving fairness in lending and controlling banking liquidity requires adopting clear and transparent standards in granting loans, away from interventions and mediations, with the need to expand the base of financial inclusion and increase reliance on official banking instruments instead of cash trading outside the banking system, which contributes to enhancing financial stability and raising the efficiency of liquidity management.”
He added that "weak financial oversight during the past years has contributed to the rise in default rates in some loans and advances, as a result of inadequate follow-up and auditing procedures and the absence of early warning systems for credit risks. Strengthening the role of regulatory bodies and activating governance and compliance within banks represent a fundamental pillar to reduce these problems."
He added that “the shift towards digital banking systems has become an urgent necessity, not an option, as digital technologies, electronic payment systems, electronic archiving, and digital loan application and follow-up platforms can reduce opportunities for corruption and bureaucratic red tape, speed up the completion of transactions, raise the level of transparency, as well as enable regulatory bodies to track financial operations more accurately and efficiently.”
Al-Tamimi stressed that “reforming the Iraqi banking sector is achievable if it is coupled with political will, professional management, and serious investment in technology and oversight, because building a modern and reliable banking sector is one of the most important conditions for revitalizing the economy, attracting investments, and achieving sustainable development in Iraq.”
For years, the Iraqi banking sector has suffered from accumulated challenges related to weak financial inclusion, widespread reliance on cash transactions, and limited digital banking services compared to global standards.
Banks also face challenges related to loan and advance management, borrower follow-up, and creditworthiness assessment, in addition to the need to update control, compliance, and governance systems.
In recent years, the government has moved towards adopting financial and banking reform programs aimed at expanding the use of electronic payment, promoting digitalization, and improving the investment environment, amid increasing calls from experts to link banking reforms with modern technology and effective supervision to ensure the building of a more efficient financial sector capable of supporting the national economy. link
Tishwash: Cash versus digitalization: Will Iraq succeed in its financial transformation?
Economic experts believe that reforming the Iraqi banking sector and accelerating the shift towards electronic payments are two essential pillars for addressing many of the financial and economic challenges facing the country, from the loan and advance crisis to enhancing transparency, combating corruption, and stimulating investment.
Economic researcher Ahmed Al-Tamimi affirms that the success of any banking reform process requires a comprehensive program that is not limited to traditional administrative procedures, but extends to modernizing the legislative, regulatory and technological structure of government and private banks.
Al-Tamimi explained that the loan and credit crisis is not only related to the amount of money available for lending, but also to the mechanisms for granting financing, monitoring borrowers, and assessing their creditworthiness.
He pointed out that addressing this crisis requires the creation of unified databases for borrowers and the development of a modern credit rating system that contributes to reducing default rates and ensuring that financing reaches eligible borrowers who are able to repay.
Controlling liquidity and promoting financial inclusion
He added that achieving fairness in granting loans requires adopting clear and transparent standards, free from interference and mediation, while expanding the base of financial inclusion and increasing reliance on official banking instruments instead of cash transactions outside the banking system.
He explained that this transformation contributes to enhancing financial stability and improving liquidity management within the banking sector, as well as raising the efficiency of the financial performance of economic institutions.
He also pointed out that weak oversight in recent years has contributed to higher default rates on some loans due to inadequate auditing and follow-up procedures and the absence of early warning systems for credit risks.
He stressed that strengthening governance and activating control and compliance tools within banks are essential steps to reduce these problems and improve the quality of banking services.
Electronic payment is an economic necessity.
For his part, economic researcher Sadiq Al-Azraqi believes that the shift towards electronic payment is no longer just a technical option or a modern means of payment, but has become an economic and administrative necessity imposed by the nature of the modern economy and the requirements of transparency and financial stability.
He explained that the Iraqi economy still relies heavily on cash liquidity stored outside the banking system, which limits the state’s ability to monitor the movement of funds and manage economic activity efficiently.
He added that expanding the use of electronic payment tools would bring a large portion of circulating funds into the formal economic cycle, which would help regulate financial activity and reduce the risks of money laundering and tax evasion.
He pointed out that electronic systems also reduce the costs associated with cash management, including transportation, protection, manual inventory and counterfeiting risks, as well as making it easier for citizens to access various banking services such as loans, savings and investment.
Challenges of digital transformation
Despite the significant benefits expected, Al-Azraqi emphasizes that digital transformation still faces a number of challenges in Iraq, most notably the lack of confidence in the banking sector as a result of accumulated crises and past experiences, in addition to problems related to the stability of electricity and internet services.
He also noted that small and medium-sized business owners have concerns that electronic payment methods could become a means of pursuing them for tax purposes or imposing additional financial burdens on them.
He added that Iraqi society still tends to deal with direct criticism, which constitutes a cultural barrier that needs time and extensive awareness programs to overcome.
Combating corruption and promoting transparency
Al-Azraqi believes that one of the most important gains of digital transformation is the reduction of financial and administrative corruption, because electronic transactions leave a digital trace that can be tracked and reviewed, unlike cash transactions which are difficult to monitor.
He explained that the digital economy provides the state with a huge database that helps it understand consumption patterns, manage markets, predict supply crises, and monitor prices more accurately.
He added that the success of this transformation requires simultaneous administrative and legislative reforms, as well as providing incentives that encourage citizens and business owners to use electronic payment methods. link
Seeds of Wisdom RV and Economics Updates Saturday Afternoon 6-13-26
Good Afternoon Dinar Recaps,
Xi’s Pyongyang Visit Signals Rising Eurasian Alignment as China, Russia, and North Korea Deepen Strategic Ties
Chinese President Xi Jinping’s first visit to North Korea in seven years highlights growing cooperation among China, Russia, and North Korea as geopolitical tensions accelerate the emergence of a more multipolar world order.
Good Afternoon Dinar Recaps,
Xi’s Pyongyang Visit Signals Rising Eurasian Alignment as China, Russia, and North Korea Deepen Strategic Ties
Chinese President Xi Jinping’s first visit to North Korea in seven years highlights growing cooperation among China, Russia, and North Korea as geopolitical tensions accelerate the emergence of a more multipolar world order.
Overview
• Xi Jinping's visit to Pyongyang underscores China's commitment to strengthening ties with North Korea amid rising global geopolitical tensions.
• The visit comes as North Korea and Russia continue expanding military, economic, and diplomatic cooperation linked to the Ukraine conflict and Western sanctions.
• Analysts increasingly view the strengthening China-Russia-North Korea relationship as part of a broader shift toward a multipolar global system challenging traditional Western influence.
Key Developments
1. Xi Visits North Korea After Seven-Year Gap
President Xi Jinping's visit marks the highest-level engagement between Beijing and Pyongyang in years. The summit reaffirmed the longstanding strategic partnership between the two countries while emphasizing economic cooperation and regional stability.
2. China Remains North Korea's Economic Lifeline
Despite North Korea's growing relationship with Russia, China continues to be Pyongyang's dominant trading partner. Bilateral trade has reportedly climbed to its highest level in nearly a decade, highlighting North Korea's continued economic dependence on Beijing.
3. Russia-North Korea Ties Continue Expanding
North Korea's military and logistical support for Russia during the Ukraine conflict has significantly strengthened Moscow-Pyongyang relations. Increased trade, military cooperation, and diplomatic engagement have elevated Russia's influence within the region.
4. Focus Shifts Away from Denuclearization
Notably absent from the summit discussions was any major emphasis on North Korea's nuclear program. Observers view this as a reflection of shifting geopolitical priorities as China, Russia, and North Korea focus more heavily on strategic alignment against Western pressure.
5. Multipolar Institutions Gain Momentum
The visit reinforces growing cooperation among countries seeking alternatives to Western-led political and economic structures. The broader alignment among China, Russia, North Korea, and other emerging powers continues to reshape global diplomatic and economic relationships.
Why It Matters
The significance of Xi's visit extends beyond Northeast Asia. It reflects a broader geopolitical trend where nations facing sanctions, trade restrictions, or strategic competition with the West are strengthening regional partnerships and building alternative economic relationships.
As global power becomes increasingly distributed among multiple centers of influence, alliances based on shared strategic interests are becoming more important than traditional ideological divisions.
Why It Matters to Foreign Currency Holders
For those monitoring long-term shifts in the global monetary system, the strengthening China-Russia-North Korea relationship highlights the continued movement toward de-dollarization, regional trade networks, and alternative payment mechanisms.
While the U.S. dollar remains the dominant reserve currency, growing economic cooperation among Eurasian powers supports efforts to expand the use of national currencies and reduce dependence on Western-controlled financial infrastructure.
Implications for the Global Reset
Pillar 1: Trade
Expanding economic cooperation across Eurasia continues to create alternative trade corridors and reduce reliance on traditional Western-centered supply chains.
Pillar 2: Assets
The accumulation of strategic resources, energy partnerships, and industrial cooperation strengthens the economic foundation of emerging multipolar alliances.
Pillar 3: Technology
Alternative financial systems, payment networks, and technological cooperation are increasingly becoming central to geopolitical competition.
The growing alignment between China, Russia, and North Korea demonstrates that the global economy is evolving toward a more decentralized structure where regional blocs play a larger role in trade, finance, and geopolitical decision-making.
This is not just politics — it’s global finance restructuring before our eyes.
Seeds of Wisdom Team
Newshounds News™ Exclusive
Sources
Modern Diplomacy — "The Pyongyang Diaries: Xi’s North Korea Visit and the North Korea/Russia Axis"
Reuters — "North Korea Will Not Retreat From Nuclear Status, Kim Jong Un's Sister Says"
~~~~~~~~~~
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History of Recessions in the United States
History of Recessions in the United States
Causes, Length, GDP, and Unemployment Rates for Every U.S. Recession
By Kimberly Amadeo Updated on July 9, 2024
There have been 19 noteworthy recessions throughout U.S. history. The National Bureau of Economic Research determines when a recession starts and ends, and the Bureau of Economic Analysis measures the gross domestic product (GDP) that defines recessions. The Bureau of Labor Statistics reports on the unemployment rate.
Unemployment often peaks after a recession ends because it's a lagging economic indicator. Most employers wait until they're sure the economy is back on its feet again before hiring permanent employees.
History of Recessions in the United States
Causes, Length, GDP, and Unemployment Rates for Every U.S. Recession
By Kimberly Amadeo Updated on July 9, 2024
There have been 19 noteworthy recessions throughout U.S. history. The National Bureau of Economic Research determines when a recession starts and ends, and the Bureau of Economic Analysis measures the gross domestic product (GDP) that defines recessions. The Bureau of Labor Statistics reports on the unemployment rate.
Unemployment often peaks after a recession ends because it's a lagging economic indicator. Most employers wait until they're sure the economy is back on its feet again before hiring permanent employees.
Key Takeaways
The nation's first recession resulted from land speculation in 1797 when the First Bank of the United States and U.S. Treasury Secretary Alexander Hamilton expanded the money supply.
The Great Depression that lasted from 1929 through 1938 was actually two of the worst recessions America has ever experienced occurring back to back.
Two recessions also occurred back to back in 1980 through 1982, aggravated by the Iranian oil embargo.
America averages a recession about once every six years.
Early Major Recessions
The hallmark of these four early recessions is that the federal government could do little to stop them. Their harshness and unpredictability led to support for a national central bank.
1797: The Panic of 1797 resulted from land speculation. The First Bank of the United States and U.S. Treasury Secretary Alexander Hamilton expanded the money supply, leading to the boom and bust.1
1857: Embezzlement at the Ohio Life Insurance and Trust Company's New York branch triggered a panic. Investors lost faith in paper money when a ship carrying gold to New York sank en route. Businesses couldn't make their payrolls and commerce ground to a halt.2
1873: The construction of the national railway system created speculation that led to the collapse of the largest U.S. bank. The recession lasted until 1879.3
1893: The Reading Railroad failed, leading to other railway failures and a stock market crash. Banks suspended cash payments, leading to the hoarding of cash and bank failures.4
20th Century Recessions
There were 12 recessions in the 20th century. The Great Depression was technically two of the nation's worst recessions occurring back to back.
1907
The "Panic of 1907" lasted from May 1907 to June 1908. It was caused by speculators' losses that spread to trust companies. These firms acted like banks but they had lower reserves. Congress created the Federal Reserve System to prevent future collapses.56
1929 to 1938 (The Great Depression)
The biggest economic crisis in U.S. history was two closely related recessions.78 The first downturn was from August 1929 to March 1933, with a record 12.9% contraction in 1932.9 The second downturn lasted from May 1937 to June 1938. Unemployment reached 24.9% in 1933 and remained in the double digits until WWII began.10
Chart LINK
Several factors combined to create the Great Depression. The Fed raised interest rates in the spring of 1928 and continued despite the recession. The 1929 stock market crash destroyed businesses and life savings. A 10-year drought in the Midwest created the Dust Bowl that devastated farmers.11
The New Deal ended the first recession, boosting growth by 10.8%.12 The second recession ended when the drought did, and the government increased spending for World War II.13
1945
This recession lasted eight months, from February to October. It was a natural result of the demobilization of World War II.1415
1949
This 11-month recession began in November 1948 and lasted until October 1949 when unemployment peaked at 7.9%.1416 It was caused by the Fed raising interest rates too quickly.15
Chart LINK
1953
This recession lasted 10 months from July 1953 to May 1954.14 It resulted from tightened monetary policy following the Korean War.17 Unemployment didn't reach its peak of 6.1% until September 1954, four months after the recession ended. GDP contracted by 2.2% in the third quarter of 1953 and by 5.9% in the fourth quarter. It contracted by 1.9% in the first quarter of 1954.1819
1957
This recession took place from August 1957 to April 1958.14 GDP fell 4.1% in the fourth quarter of 1957, then it contracted to a low of 10.0% in the first quarter of 1958.20 Unemployment didn't reach its peak of 7.5% until July 1958.21 The Fed's contractionary monetary policy caused this economic slowdown.22
1960
Starting in April 1960, this recession lasted 10 months until February 1961.14 GDP was -2.1% in the second quarter of 1960, then it rose by 2.0% in the third quarter but it was down by 5.0% in the fourth quarter.19 Unemployment reached a peak of 7.1% in May 1961.23
Note
President John F. Kennedy ended the 1960 recession with stimulus spending.24 His opponent, Richard Nixon, blamed the recession for costing him the election.25
TO CONTINUE TO READ MORE: https://www.thebalancemoney.com/the-history-of-recessions-in-the-united-states-3306011
July 1st Your Gold Becomes Legal Money in Florida
July 1st Your Gold Becomes Legal Money in Florida
Taylor Kenny: 6-11-2026
For nearly a century, America moved away from gold. Now Florida is moving back.
CHAPTERS:
00:00 Why States Are Returning to Gold
00:51 The 1933 Gold Confiscation Lesson
01:25 DeSantis Signs Florida’s Sound Money Law
02:22 What the New Law Actually Does
04:44 Florida Joins the Sound Money Movement
05:36 The Constitutional Gold and Silver Clause
07:31 Central Banks Are Buying Gold
08:25 Gold, Silver, and Currency Resets
09:22 The Depository Red Flag
10:20 Why Physical Gold Still Matters
10:48 Protecting Yourself Before the Reset
News, Rumors and Opinions Saturday 6-13-2026
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR Update as of Sat. 13 June 2026
Compiled Sat. 13 June 2026 12:01 am EST by Judy Byington
Fri. 12 June 2026 Yesterday Trump said it on camera: “I want to go to Fort Knox. I want to see if the gold’s in it. They steal a lot. …Tier4b ISO20022
The President just told you somebody STOLE your gold. 147.3 million oz. $692B. Last audit: 1974. Fifty-two years. No camera. No evidence.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR Update as of Sat. 13 June 2026
Compiled Sat. 13 June 2026 12:01 am EST by Judy Byington
Fri. 12 June 2026 Yesterday Trump said it on camera: “I want to go to Fort Knox. I want to see if the gold’s in it. They steal a lot. …Tier4b ISO20022
The President just told you somebody STOLE your gold. 147.3 million oz. $692B. Last audit: 1974. Fifty-two years. No camera. No evidence.
Same week: France pulled ALL 129 tonnes from NY Fed. India – 104 tonnes. Germany – emergency repatriation. China buys record amounts of gold every month.
GOLD HOME for every country at the same time. You don’t evacuate a vault unless the vault is changing management.
May 15. Powell replaced by Kevin Warsh. Trump sits down with Xi in Beijing on the same day. The Fed, the machine that kept you in debt since 1913,(allegedly) changes hands.
The gold is not merely in motion. It is being REVALUED. $42/oz on the books. 4,700/oz on the market. When they mark to market – the Treasury goes up in smoke. The explosion finances what happens next.
LIVE GESARA debt protocols. All these mortgages are (allegedly) illegal. Every student loan since 1971. All credit cards. Calculating NOW.
The average American owes between $100,000 and $450,000.
Tier 4B — 12 states in place. 800 numbers loaded WAITING FOR ONE THING. FORT KNOX ON LIVE TELEVISION.
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Global Currency Reset:
Thurs. 11 June 2026 ISO 20022 has (allegedly) officially gone live across global payments. SWIFT has shut off legacy MT messages. From now on, bank-to-bank payments must speak ISO 20022. …Tier4b ISO2022 on Telegram
Wed. 10 June 2026 MarkZ: Received news from several Bond Holders that they are being paid. Evening News with MarkZ. 06/10/2026
Thurs. 11 June 2026 Bruce, The Big Call The Big Call Universe (ibize.com) 667-770-1866, pin123456#, 667-770-1865: Redemption Center Leaders go in Sat. 13 June believing that Tier4b (Us, the Internet Group) will be notified Sat 13 June or Mon 15 June. Other Military sources say notification will come out Sat., Sun, 13, 14 June. One source said “Next week will be Party Time.” We have been held up by the UK being unwilling to get off of the old SWIFT System. That has been settled as of today Thurs. 11 June.On Sun. 13 June 2026 some announcement will be made. Sunday is also Flag Day and President Trump’s birthday.
Read full post here: https://dinarchronicles.com/2026/06/13/restored-republic-via-a-gcr-update-as-of-june-13-2026/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man A more modern integrated Iraq is taking shape right in front of us. The time feels deliberate and coordinated supporting the idea that we are closer to major monetary steps including a managed REER with a credible sovereign dinar more so than many realize.
Frank26 It must not fail with the citizens of Iraq. The monetary reform education is on a stampede.
Jeff Article: "The Prime Minister will visit America next July" We don't have a hard date. It's literally just plain old 'the month of July, but the rate has to change before that...The Strategic Framework Agreement with the US, now they're talking about activating, meaning implementing, because Iraq's going to become international. That's more proof they're going to change the rate before he goes. They have to activate the Strategic Framework Agreement...
Reset Intelligence Trump declares the war with Iran over. Oil drops below $87. Iraq's tankers are already loading. Tehran says no text is approved. One signature decides the week.
Silver Market "Short-Term Pain" Before SYSTEM MELTDOWN | Bill Holter
Liberty and Finance: 6-12-2026
Bill Holter describes a scenario where financial stress and liquidity strains could contribute to a system down condition in which banks, brokers, insurance companies, and markets temporarily stop functioning.
In that environment he argues that derivatives, credit structures, and payment systems would freeze, forcing reliance on barter and physical assets.
He characterizes the current weakness in metals as short term pain driven by liquidity needs and paper market pressure rather than any change in long term fundamentals. Silver holders are told that volatility and price suppression reflect temporary capital flows and managed paper selling during periods of stress in broader markets.
Holter maintains that despite near term turbulence, the long term trajectory favors higher real value for metals as currency debasement continues and physical scarcity becomes more important.
INTERVIEW TIMELINE:
0:00 Intro
1:30 Silver & gold pullback
15:00 AI crisis
22:00 90% coinage as barter
28:30 Get out of the system
36:00 Food preparedness
Iraq Economic News and Points To Ponder Saturday Morning 6-13-26
Basrah Crudes Post Weekly Losses
2026-06-13 Shafaq News- Basrah Iraq’s Basrah crude lost more than 18% over the past week, as major global benchmarks weakened.
Basrah Heavy crude dropped by $2.68 in its final trading session to $58.14 per barrel, down 4.41% on the day and recording a weekly loss of $11.14, or 19.16%. Basrah Medium crude slipped by $2.68 to close at $60.24 per barrel, falling 4.26% in its last session and posting a weekly loss of $11.14, or 18.49%.
Basrah Crudes Post Weekly Losses
2026-06-13 Shafaq News- Basrah Iraq’s Basrah crude lost more than 18% over the past week, as major global benchmarks weakened.
Basrah Heavy crude dropped by $2.68 in its final trading session to $58.14 per barrel, down 4.41% on the day and recording a weekly loss of $11.14, or 19.16%. Basrah Medium crude slipped by $2.68 to close at $60.24 per barrel, falling 4.26% in its last session and posting a weekly loss of $11.14, or 18.49%.
Globally, Brent crude decreased by $3.05 to $87.33 per barrel, a decline of 3.37%, while US West Texas Intermediate crude shed $2.83 to settle at $84.88 per barrel, down 3.23%.
UAE Murban crude retreated 4.85% to $83.02 per barrel, while Russia’s Urals crude fell 5.61% to $78.39. US Mars crude also lost 5.58% of its value. https://www.shafaq.com/en/Economy/Basrah-crudes-post-weekly-losses-3
USD/IQD Exchange Rates Climb In Baghdad, Erbil
2026-06-13 Shafaq News- Baghdad/ Erbil The US dollar opened Saturday's trading higher in Iraq, hovering around 155,000 dinars per 100 dollars in Baghdad and Erbil.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya central exchanges at 154,750 dinars per 100 dollars, up from 154,600 dinars recorded on Thursday.
In the Iraqi capital, exchange shops sold the dollar at 155,250 dinars per 100 dollars and bought it at 154,250 dinars.
In Erbil, the dollar was selling at 155,000 dinars per 100 dollars and buying at 154,900 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-climb-in-Baghdad-Erbil-7-2
Gold Prices Rise In Baghdad, Erbil Markets
2026-06-13 Shafaq News- Baghdad/ Erbil On Saturday, gold prices hovered around 910,000 IQD per mithqal in Baghdad and Erbil markets, continuing their upward trend, according to Shafaq News market survey.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 917,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 913,000 IQD. The same gold had sold for 892,000 IQD on Thursday.
The selling price for 21-carat Iraqi gold stood at 887,000 IQD, with a buying price of 883,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 920,000 and 930,000 IQD, while Iraqi gold sold for between 890,000 and 900,000 IQD.
In Erbil, 22-Carat Gold Was Sold At 940,000 IQD Per Mithqal, 21-Carat Gold At 897,000 IQD, And 18-Carat Gold At 768,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-rise-in-Baghdad-Erbil-markets-3-3
Germany Backs Iraq's Tourism Development Efforts
2026-06-13 Shafaq News- Baghdad Germany's development agency GIZ and Iraqi officials on Saturday discussed ways to support the country's tourism sector as part of broader efforts to diversify the economy beyond oil.
The discussions took place during a workshop organized by the Private Sector Development Council and GIZ, where the German agency said it is working with Iraqi institutions through the Economic Transformation Enhancement (SET) project, funded by the German government, to support economic reforms, strengthen private-sector growth, and promote sustainable development.
Read more: 150,000 archaeological sites, 556 tourists: Iraq's oil economy explains the gap
Participants also reviewed opportunities in religious tourism, hospitality, travel services, and tourism investment.
Read more: Faith and finances: Religious tourism fuels Iraq’s economy
https://www.shafaq.com/en/Economy/Germany-backs-Iraq-s-tourism-development-efforts
Iran: Trump Agreed To Unfreeze $24B In Assets
2026-06-13 Shafaq News- Tehran Mohsen Rezaee, a senior adviser to Iran's Supreme Leader Mojtaba Khamenei, said on Saturday that US President Donald Trump had approved the release of $24 billion in frozen Iranian assets, amid conflicting accounts from Washington and Tehran over the terms of a reported peace agreement.
Cited by Iran's Fars News Agency, Rezaee added that Trump did not want to announce the decision publicly.
On Friday, Pakistani Prime Minister Shehbaz Sharif revealed that the United States and Iran had reached a final text for a deal, describing it as closer to implementation than at any point since negotiations began.
Iran's Mehr News Agency subsequently published a 14-point draft memorandum that includes the release of the funds during a 60-day negotiation period, with half reportedly to be made available before talks begin.
In Washington, Vice President JD Vance said no funds would be released to Iran in exchange for signing an agreement or attending a meeting, adding that any economic benefits would depend on Tehran fulfilling its commitments.
A senior US administration official also told Shafaq News that no Iranian assets would be released before Iran meets its obligations, describing the proposed arrangement as an implementation-first framework.
https://www.shafaq.com/en/Middle-East/Iran-Trump-agreed-to-unfreeze-24B-in-assets
PMF Vows Strict Allegiance To Iraqi Constitution
2026-06-13 Shafaq News- Baghdad The Popular Mobilization Forces (PMF) remains committed to Iraq's constitution, and is prepared to operate under the authority of the Armed Forces Commander-in-Chief, Prime Minister Ali al-Zaidi, PMF head Faleh al-Fayyadh noted on Saturday.
Marking the 11th anniversary of Grand Ayatollah Ali al-Sistani's fatwa, which contributed to the formation of the PMF —a predominantly Shiite umbrella force incorporated into the Iraqi state in 2016— al-Fayyadh described the religious edict as the moment that "helped save Iraq from the existential threat posed by ISIS."
The fatwa, issued on June 13, 2014, came days after ISIS captured Mosul and overran large parts of northern and western Iraq, triggering one of the country's gravest security crises in recent decades.
"The PMF has evolved into a national force representing Iraq's diverse communities," he added, reaffirming the group's commitment to strengthening its administrative, organizational, training, and technical capabilities while continuing efforts to improve its institutional performance.
Read more: Iraq to place armed factions' weapons under state control: What we know so far
https://www.shafaq.com/en/Iraq/PMF-vows-strict-allegiance-to-Iraqi-constitution