Seeds of Wisdom RV and Economics Updates Wednesday Evening 4-29-26

Good Evening Dinar Recaps,

Central Banks Split: Oil Shock Drives Inflation Higher as Policy Gridlock Emerges

Surging energy prices and global uncertainty are dividing central banks, increasing risks to growth, currencies, and financial stability

OVERVIEW (KEY POINTS)

Major central banks are showing growing division and caution as rising oil prices and geopolitical tensions push inflation higher across global economies.

This is happening now because the ongoing Middle East conflict has driven oil above $110–$120 per barrel, feeding directly into inflation while slowing growth expectations.

Key players include the U.S. Federal Reserve, European Central Bank, and global institutions now facing a policy dilemma between controlling inflation and supporting economic growth.

The broader implication is clear: policy fragmentation and inflation pressure are increasing systemic risk, signaling deeper stress within the global financial system.

KEY DEVELOPMENTS

1. Federal Reserve Shows Rare Internal Division

Policy consensus is breaking down.

• Fed held rates steady at 3.5%–3.75%

• Most divided vote since 1992, signaling uncertainty

2. Oil Prices Surge on Prolonged Supply Disruption

Energy markets remain under pressure.

• Oil climbed above $118–$120 per barrel amid supply fears

• Ongoing blockade concerns point to extended disruption

3. Global Inflation Pressures Reaccelerate

Energy costs are driving price increases worldwide.

• Inflation rising across Europe and globally due to energy spikes

• Fuel-driven inflation spreading into broader economies

4. Central Banks Hold Rates Despite Rising Risks

Policy caution dominates globally.

• Bank of Canada and others keeping rates unchanged amid uncertainty

• ECB signaling potential future hikes despite weak growth outlook

5. Global Growth Forecasts Are Being Cut

Economic outlook is weakening.

• Asia growth forecast reduced while inflation raised to 5.2%

• Manufacturing and exports showing signs of slowing momentum

WHY IT MATTERS

This development highlights a critical shift: central banks are no longer aligned, reflecting uncertainty about how to respond to energy-driven inflation.

Markets are reacting to this divergence with increased volatility in bonds, currencies, and equities, as expectations for future policy become less predictable.

For policymakers, the challenge is intensifying. Raising rates risks slowing economies further, while holding rates allows inflation to persist longer.

At the system level, this signals a transition toward a more fragile and fragmented financial environment, where coordinated global responses are harder to achieve.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Currency volatility increases due to policy divergence

• Purchasing power declines as inflation rises globally

• Safe-haven currencies may strengthen during uncertainty

• Emerging market currencies face added pressure

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1: Monetary Policy Fragmentation

Diverging central bank strategies signal a shift away from coordinated global monetary policy, increasing systemic instability.

• Pillar 2: Energy-Driven Inflation Reshaping Economies

Persistent energy shocks are forcing structural adjustments in pricing, trade, and economic policy frameworks.

CONCLUSION

The current environment reflects more than temporary volatility. It represents a fundamental shift in how central banks respond to global shocks.

As inflation rises and policy consensus breaks down, the financial system is becoming more sensitive to both geopolitical events and energy markets.

This moment highlights a deeper reality: when central banks lose alignment, systemic risk rises significantly.

When energy shocks divide monetary policy, the global financial system enters a new phase of instability.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "Fed holds rates steady in most divided vote since 1992"

• Reuters — "Oil rises on fears of prolonged Middle East supply disruption"

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™Website

Thank you Dinar Recaps

Iraq Economic News And Points To Ponder Wednesday Evening 4-29-26

Iraq Ranks 82nd Globally With 8.4% Housing Price Ratio

2026-04-29 Shafaq News- Baghdad   Iraq ranked 82nd out of 104 countries in the 2025 housing price-to-income ratio index, marking a 0.1 percentage point increase from the previous year, according to World Population Review.

The report placed Iraq’s ratio at 8.4% with an affordability index of 1.2, compared with 8.3% and 1.1 in 2024.

Globally, Syria topped the list at 115.1%, followed by Cuba (48%), Ethiopia (47.1%), Cameroon (46.6%), and Sri Lanka (34.2%). Other countries near the top included Nepal (32.1%), Hong Kong (29.1%), China (28.5%), Vietnam (25.8%), and Thailand (23.1%).

At the lower end, Oman ranked 104th with a ratio of 3.1%, alongside Saudi Arabia, indicating relatively lower housing cost pressure relative to income.https://www.shafaq.com/en/Economy/Iraq-ranks-82nd-globally-with-8-4-housing-price-ratio

US Dollar Tops 180,000 Toman In Iran

2026-04-29 Shafaq News- Tehran   The US dollar surpassed 180,000 toman in Iran's open market on Wednesday, an increase of nearly 8% from the previous day. According to Iran’s Donya-e-Eqtesad, the dollar had traded around 160,000 toman on Tuesday before closing near 165,000.  One toman = 10 Iranian rials 

https://www.shafaq.com/en/Economy/US-dollar-tops-180-000-toman-in-Iran

USD/IQD Exchange Rates Dip Slightly In Baghdad And Erbil At Closure

2026-04-29   Shafaq News- Baghdad/ Erbil  The US dollar closed Wednesday’s trading lower in Iraq, hovering around 154,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,450 dinars per 100 dollars, down from the previous session’s 153,750 dinars.

In the Iraqi capital, exchange shops sold the dollar at 154,000 dinars and bought it at 153,000 dinars, while in Erbil, selling prices stood at 153,450 dinars and buying prices at 153,350 dinars.

https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-dip-slightly-in-Baghdad-and-Erbil-at-closure

Gold Prices Edge Lower In Baghdad And Erbil Markets

2026-04-29 Shafaq News- Baghdad/ Erbil   On Wednesday, gold prices hovered around 990,000 IQD per mithqal in Baghdad and Erbil markets, according to a Shafaq News market survey.

Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 986,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 982,000 IQD. The same gold had sold for 1,005,000 IQD on Tuesday.

The selling price for 21-carat Iraqi gold stood at 956,000 IQD, with a buying price of 952,000 IQD.

In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 985,000 and 995,000 IQD, while Iraqi gold sold for between 955,000 and 965,000 IQD.

In Erbil, 22-carat gold was sold at 1,037,000 IQD per mithqal, 21-carat gold at 990,000 IQD, and 18-carat gold at 848,000 IQD.  https://www.shafaq.com/en/Economy/Gold-prices-edge-lower-in-Baghdad-and-Erbil-markets-1-2

US Renews Calls For Dismantling Iran-Aligned Groups In Iraq After Three Reward Offers

2026-04-29 Shafaq News- Washington/ Baghdad   The United States Department of State renewed its call for the dismantling of Iran-aligned armed groups in Iraq, tying the issue directly to the future of the US-Iraq relationship, as Washington placed its third $10 million reward offer on a senior commander within roughly two weeks.

 A State Department spokesperson, speaking on background, said that Washington had "spoken clearly to what is needed to dismantle the Iran-aligned militias in Iraq," adding that the United States stands with Iraqis working toward sovereignty, security, and a prosperous future.

The latest reward offer, announced through the Rewards for Justice program run by the State Department's Diplomatic Security Service, targets Hashem Finyan Rahim al-Saraji, also known as Abu Alaa al-Walae, leader of Kataib Sayyid al-Shuhada.

The program accused him of directing attacks on US diplomatic facilities and military personnel in Iraq and Syria, and of involvement in the killing of Iraqi civilians. Washington designated the group a Foreign Terrorist Organization in September 2025.

Ten days earlier, a $10 million reward was announced for Ahmad al-Hamidawi, leader of Kataib Hezbollah, over attacks on US diplomatic facilities in March 2026 and a sustained campaign against American personnel in Iraq.

A separate offer followed for Haydar al-Sa'adi, Secretary General of Harakat Ansar Allah al-Awfiya —the group held responsible for the January 28, 2024, drone strike on Tower 22 in Jordan that killed three American service members.

All three men operate within the Islamic Resistance in Iraq, the umbrella coalition of Iran-aligned factions that has claimed over 750 strikes on US targets since the outbreak of the 2026 US-Israeli conflict with Iran.

Attacks attributed to its affiliated groups have struck the US Embassy in Baghdad, logistical support center at Baghdad International Airport, Harir Base, and Erbil Airport in the Kurdistan Region, and energy infrastructure across the country.

For Shafaq News, Mostafa Hashem, Washington, D.C.

https://www.shafaq.com/en/Iraq/US-renews-calls-for-dismantling-Iran-aligned-groups-in-Iraq-after-three-reward-offers

Al-Marsoumi: Iraq Is At A Critical Economic Crossroads And Needs Competent Individuals And Political Support.

Time: 2026/04/29    {Economic: Al-Furat News} Economic expert, Nabil Al-Marsoumi, warned that the Iraqi economy is going through a phase that requires extensive reforms in light of the major challenges that will face the president and the next government.

Al-Marsoumi told Al-Furat News Agency that: “The economic reality is characterized by significant pressures, most notably limited liquidity, challenges in the oil sector, budget deficits, high rates of unemployment and poverty, and declining economic performance.”

He added, "The next government will not be able to change the reality on its own unless it has broad political support, and political forces must refrain from demands that may hinder its work and limit populist rhetoric that increases the burdens on the state."

Al-Marsoumi stressed that “Iraq stands today at an important crossroads in its economic path due to the magnitude of the challenges,” emphasizing “the importance of forming a government of competent individuals, far removed from quotas, capable of managing the current stage and addressing the economic crisis.”

https://alforatnews.iq/news/المرسومي-العراق-أمام-مفترق-اقتصادي-حرج-يحتاج-كفاءات-ودعم-سياسي

Ariel: How the Revaluation Actually Happens (and more)

Ariel: How the Revaluation Actually Happens

4-29-2026

A Reckoning & Beckoning To Justice (Signing The Seal)

We Are In The Thick Of It Now Folks

Bond sales and capital inflows are the hidden accelerator (Vietnam playbook on steroids). As Iraq issues sovereign and reconstruction bonds internationally, foreign capital floods in, creating real demand for dinars. This forces appreciation pressure.

Combined with gold backing, it creates a credible, tradable rate that cannot easily be manipulated back down.

The old parallel market arbitrage and militia skims die in this environment. Banks that fought this for years are now quietly preparing private wealth teams for the new client class holders of revalued positions who will suddenly sit on significantly stronger assets.

The current official rate (~1,300 IQD per USD) is a distortion maintained by the old system. A gold-anchored revaluation + redenomination produces a strong, defensible new rate that reflects actual reserves, oil revenue, and international credibility.

This is not fairy-tale 1:1 fantasy it is a realistic, sustainable upward move that delivers tangible citizen upside while starving the old proxy networks.

Bottom line for Iraq

Gold backing is the IMF’s way of saying “No more games.” It forces a real, sustainable revaluation instead of another fake pump-and-dump. The old weak dinar dies.

A stronger, gold-anchored dinar is being born under extreme pressure. This is why banks have been fighting it for years it kills their old skims and parallel market profits.

The squeeze (dollar cuts, Mythos exposure, cashless deadline) is making gold backing unavoidable. The dinar is being remade from a joke into a real currency. Gold is the reason it can actually stay strong. I may be back with more info.

Read Full Article:
https://www.patreon.com/posts/reckoning-to-156809552

https://dinarchronicles.com/2026/04/28/prolotario-how-the-revaluation-actually-happens/

Ariel:  A New Sovereign Order is Accelerating

4-29-2026

A New Sovereign Order Is Accelerating:

What UAE did with OPEC and what Iraq is about to do along with Iran are not separate incidents but a coordinated progression towards a unified goal for currency revaluation. Especially after the IMF report that came out requesting that Iraq support their national currency with gold.

(May 1st is shaping up to be a huge historical day for multiple countries.)

Venezuela’s wage realignment test on the same date adds political theater to the financial reset. The old scarcity cartel that propped up the Unholy Trinity financial flows is being dismantled in real time.

The cabal’s managed energy and currency distortions are rupturing.What replaces them is a more sovereign, gold-anchored, digitally transparent system.

 May 1 is not just a calendar date it is the visible fracture line where the old order begins its irreversible retreat.

Real-World Effects

• Anti-Inflation: You can’t just print more dinars when you run out of money you need more gold first.

• Stronger Value: The dinar becomes a “hard currency” like the old Swiss franc or historical US dollar.

• Revaluation Support: A gold-backed dinar can hold a much higher exchange rate without collapsing back down.

• Digital Transition: Digital systems become safer because the currency has real underlying value.

UAE will stop using OPEC. Effective May 1st.

Venezuela will have a wage increase on May 1st.

All of this falls in alignment with current readjustments.

The process continues and will eventually culminate into the international market.

Source(s):
• https://x.com/Prolotario1/status/2049278785602695203

https://dinarchronicles.com/2026/04/28/prolotario-a-new-sovereign-order-is-accelerating/

SHOCKING: Bond Collapse Warning From Former Treasury Secretary | Andy Schectman

SHOCKING: Bond Collapse Warning From Former Treasury Secretary | Andy Schectman

Liberty and Finance:  4-28-2026

Andy Schectman returns to break down mounting stress in the silver market, including a growing mismatch between COMEX open interest and available supply.

He highlights record-breaking gold and silver imports by China as evidence of a major shift happening beneath the surface.

Andy also points to rising U.S. debt pressures and warns that interest payments are approaching historic levels.

Notably, he discusses former Treasury Secretary Hank Paulson’s warning that the U.S. should prepare for a potential collapse in Treasury demand.

He also explores the rapid rise of stablecoins and digital financial systems, raising concerns about surveillance, control, and the future of financial freedom.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Gold & silver update

12:00 Genius Act & tokenization

24:00 Warning of Treasury market collapse

https://www.youtube.com/watch?v=c_en1PPjHro

Seeds of Wisdom RV and Economics Updates Wednesday Afternoon 4-29-26

Good Afternoon Dinar Recaps,

Blockade Strategy Expands: Trump Signals Prolonged Pressure on Iran as Markets React

Extended U.S. blockade plans intensify economic strain on Iran while raising global energy and financial system risks

OVERVIEW (KEY POINTS)

U.S. President Donald Trump is preparing to extend the blockade on Iran’s ports, signaling a shift toward sustained economic pressure rather than immediate military escalation.

This is happening now as negotiations remain stalled, with Iran refusing to meet U.S. demands on immediate nuclear concessions, while attempting to manage the conflict through alternative trade routes.

Key players include the United States, Iran, European economies responding to rising energy costs, and global markets adjusting to prolonged disruption in oil flows.

The broader implication is clear: a sustained blockade strategy is amplifying inflation, currency instability, and global trade disruptions, increasing systemic financial risk.

KEY DEVELOPMENTS

1. U.S. Plans Extended Blockade Strategy

A long-term pressure approach is taking shape.

• Blockade viewed as lower-risk alternative to military escalation

• Aims to force Iran into favorable negotiation terms

2. Iran’s Currency Collapse Accelerates

Economic strain inside Iran is intensifying.

• Rial weakened to 1,810,000 per dollar

• Nearly 15% decline in just two days

3. Inflation Surges to Extreme Levels

Domestic conditions deteriorate rapidly.

• Inflation reached 65.8% in a single month period

• Rising costs expected to further destabilize the economy

4. Strait of Hormuz Disruptions Continue

Global energy flows remain constrained.

• Iran restricting shipping through a key route for global oil supply

• U.S. blockade compounding trade and logistics disruptions

5. Oil Prices Rise Amid Supply Concerns

Markets respond to prolonged uncertainty.

• Oil prices increased nearly 3% on continued conflict

• Risk of extended supply shortages priced into markets

WHY IT MATTERS

This development highlights how economic warfare strategies can have global financial consequences, particularly when energy supply chains are involved.

The combination of restricted oil flows and rising prices is feeding into inflation across multiple economies, increasing pressure on consumers and businesses.

For policymakers, prolonged disruption complicates decisions around interest rates, energy policy, and economic stability.

At the system level, this reinforces a critical shift: geopolitical conflict is directly influencing currency values, inflation, and global financial conditions.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Energy-importing currencies face increased pressure

• Purchasing power declines as inflation rises globally

• Safe-haven currencies may strengthen during instability

• Exchange rate volatility increases across regions

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1: Economic Warfare Reshaping Global Systems

Extended blockades demonstrate how financial and trade restrictions can be used as strategic tools, impacting global economic structures.

• Pillar 2: Currency Instability and Realignment

Severe currency devaluation highlights vulnerabilities that could lead to broader shifts in reserve strategies and trade settlements.

CONCLUSION

The move toward a prolonged blockade represents a significant escalation in economic pressure, with consequences extending far beyond the immediate conflict.

As Iran’s economy weakens and global energy markets remain unstable, the ripple effects are being felt across currencies, inflation, and trade systems.

This is not just a regional conflict—it is a systemic stress event influencing global financial stability.

When economic pressure targets energy and currency simultaneously, the global financial system absorbs the impact.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "U.S. considers extended blockade strategy against Iran amid stalled talks"

• Modern Diplomacy — "Trump Urges Iran to ‘Get Smart’ on Deal Amid Plans to Prolong Blockade"

~~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™Website

Thank you Dinar Recaps

News, Rumors and Opinions Wednesday 4-29-2026

Reset Intelligence: New Operators at the Controls Now

4-29-2026

JPMorgan expanded Private Client Services into 53 Chase branches last year.

• 14 new Financial Centers.
• 160 plus new advisory branches announced for 2026.

Cerulli forecasts $124 trillion in wealth will transfer over between 2026 and 2048.

The receiving infrastructure is being built right now.

The Panic of 1907. The Federal Reserve Act 1913. Bretton Woods 1944. Nixon 1971.

Same pattern. Same architects.

It is happening again right now. Most people haven’t noticed.

Watch Video on X:  https://twitter.com/i/status/2049023020854067642

New operators at the controls now.

ISO 20022 live.
Basel III reclassified gold.

The next chapter is already being filed.
The timeline is changing.
Are you prepared?

Source(s):
• https://x.com/EXIT_FIAT/status/2049266661308727374
• https://x.com/EXIT_FIAT/status/2049023020854067642

https://dinarchronicles.com/2026/04/29/reset-intelligence-new-operators-at-the-controls-now/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Fnu LnuThe up-to-the-minute status...of the IQD is much improved and this status report brings us up to the current date in April, 2026. It looks as if all restrictions on holding, owning, and trading the IQD have been lifted. One would assume there is no obstacle remaining for a revaluation.So what's the deal? The only impediment is the human factor IE:  The IMF

Frank26    [Iraq boots-on-the-ground report]   OMAR:  Zaidi is the candidate for the prime minister picked by the Coordinated Framework.  Turns out he is a compromise...USA seem to be ok because he doesn't have any direct ties to Iran... Everybody can tolerate didn't actually everybody love.  He has 30 days to pick his cabinet...and only then the parliament vote on the whole team as a package...  FRANK:  Next thing is your government will be formed.  Everything else should follow in place after those 30 days which leads to a new exchange rate...

Reset Intelligence  al-Zaidi prime-minister-designate of Iraq...chairs Al-Janoob Islamic Bank for Investment and Finance.  The same bank the Central Bank of Iraq pulled from the daily dollar auction February 4 2024...Reason cited: dollar smuggling to Iran. Why this name? Why is the IRGC commander shaping the Iraqi PM pick in person, this week, after years of doing it by phone?  Because the dinar auction is the last clean USD rail Tehran has, and it runs through al-Zaidi's bank.  The regime needs it open through the cabinet vote.  Tehran is putting their bank chair in the PM office and praying for one more month. The phone in Baghdad is ringing. Trump holds the veto. Treasury holds the trigger. Tehran is out of moves.

BREAKING Iraqi Dinar News Iraq Has a New Prime Minister

Edu Matrix:  4-29-2026

BREAKING: Iraqi Dinar News: Iraq has a New Prime Minister - Iraqi Dinar Update: Iraq has officially named a new Prime Minister, marking a major shift in leadership and political direction.

In this breaking news update, we cover everything you need to know about Iraq’s new Prime Minister, Ali al-Zaidi, his background, and what this means for Iraq’s future, stability, and global impact.

Ali al-Zaidi, a Shia-backed candidate, has emerged as the new Prime Minister-designate after months of political deadlock.

With a background in finance, banking, and law, he is considered a technocrat with the potential to guide Iraq through economic reform and political challenges. This video breaks down who he is, why he was selected, and what comes next for Iraq.

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

More “Iraq News” Posted by Tishwash AT TNT 4-29-2026

TNT:

Tishwash:  Washington announces its solidarity with Iraq and supports al-Zaidi's efforts to form a government.

The United States Mission in Iraq expressed its best wishes to Prime Minister-designate Ali al-Zaidi in his mission to form a government capable of meeting the aspirations of the Iraqi people and achieving a brighter and more peaceful future.

 In a statement, the mission affirmed Washington’s solidarity with the Iraqi people in their pursuit of common goals, foremost among them preserving the country’s sovereignty, enhancing security to eliminate terrorism, and building a prosperous economy that brings tangible benefits to both the Iraqi and American sides.

The Coordination Framework announced in a statement the selection of Ali al-Zidi as the official candidate of the Coordination Framework bloc, being the largest bloc in the House of Representatives, to assume the position of Prime Minister and form the next Iraqi government.

 This came during a crucial meeting held by the leaders of the framework at the Government Palace in Baghdad on Monday, where the name of Al-Zaydi was agreed upon after studying the list of candidates and choosing the person whose specifications match the requirements of the current stage and its challenges.  link

Tishwash:  Al-Jubouri: The government will be formed within two weeks, less than the constitutional deadlines.

Fahd Al-Jubouri, a leader in the National Wisdom Movement, predicted that the government would be formed within two weeks, in less time than the constitutional deadline, according to political agreements.

Al-Jubouri said, during his appearance on the “On the Ruler” program on Al-Furat satellite channel, that “things are moving towards accelerating the formation of the government within a period not exceeding two weeks, based on understandings between the political forces,” indicating that “Prime Minister-designate Ali Al-Zidi will return to the coordination framework regarding the formation of the ministerial cabinet and some files, as he is the supporting and sponsoring party.”

He added that "the coordination framework will hold a meeting tomorrow in the presence of the Prime Minister-designate to discuss the ministerial formation," noting that "Al-Zidi is assigned a service-oriented task and refuses to engage in any discussion related to his financial dealings with the state."

He explained that "the new government will face major challenges, foremost among them the economic situation and foreign relations, especially with neighboring countries," noting that "the Wisdom Movement announced its support for Al-Zaidi and its backing for him in this matter."

Al-Jubouri added that "the United States is awaiting the outcomes of the new Iraqi government and will base its position on them," stressing "the need for the next government to have plans to address regional challenges, including the repercussions of the closure of the Strait of Hormuz and its impact on Iraqi oil exports."

He pointed out that "the coordination framework hopes for the success of Al-Zaidi's government, and at the same time will monitor its performance," noting that "the framework stipulated that Al-Zaidi not participate in the elections or form a political party, and he expressed his unwillingness to go in this direction."

Al-Jubouri concluded by saying, "The framework formed two committees, one of which is concerned with discussing the ministerial formation, and it has made significant progress in its work."  link

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Tishwash:  Financial Inclusion Week kicks off in Halabja

The city of Halabja witnessed the launch of the activities of the Financial Inclusion Week for the year 2026, under the sponsorship and supervision of the Central Bank of Iraq, and organized by the “Our Awareness” Organization for Electronic Payment Culture and the “We Reach You” Financial Inclusion Initiative, under the slogan “Financial Health: The Path of Individuals Towards Sustainable and More Stable Financial Inclusion,” in a step that reflects the growing interest in promoting financial culture and expanding the scope of modern banking services in various Iraqi governorates, in line with the state’s directions towards building a more efficient and sustainable digital economy.

The events were held with broad participation from financial, banking and non-banking institutions, in a scene that reflects the extent of coordination and integration between the parties concerned with consolidating the concepts of financial inclusion and supporting the transition towards the digital economy, in line with the directions of the government and the Central Bank of Iraq aimed at reducing reliance on paper money and promoting the use of modern electronic payment methods, and in a way that contributes to raising the efficiency of financial transactions and achieving higher levels of transparency and economic stability, as well as facilitating citizens’ access to official financial services in a safe and fast manner.

National Initiative

Financial Inclusion Week opened with an official conference attended by the Governor of Halabja, Ms. Noukhsha Naseh Ahmed, who affirmed in her address the local government's full support for this national initiative. She noted that choosing Halabja as the launch location carries significant implications, reflecting its role in supporting development projects and impactful community initiatives. She explained that financial inclusion is a fundamental tool for empowering citizens to access safer and more reliable financial services, in addition to its role in strengthening trust in financial and banking institutions and supporting the gradual transition to modern digital systems.

Sound resource management

She added that expanding financial inclusion is not limited to providing banking services only, but also includes building a new community culture based on financial awareness and sound resource management, which helps families and individuals to plan financially better, enhances opportunities for saving and investment, and reduces the risks associated with traditional cash transactions, which positively impacts social and economic stability in the province and in Iraq in general.

A development message

For his part, Mr. Nabil Al-Najjar, head of the “Our Awareness” organization for the culture of electronic payment, stressed that launching the activities from Halabja carries an important humanitarian and developmental message, which is that modern financial services should be available to all citizens without exception, and in the various Iraqi governorates. 

He pointed out that this initiative actively contributes to establishing a culture of electronic payment within Iraqi society, and expanding opportunities for access to financial services, which enhances the role of small and medium enterprises and supports sustainable economic development paths, especially in areas that need more developmental and service support.

Modern financial services

Ghazi Al-Kinani, advisor to the Global Smart Card Company, confirmed that electronic payment companies and governmental and private banks, in cooperation with the Central Bank of Iraq, are making great efforts to promote a culture of banking and increase citizens’ interaction with modern financial products and services more than they are now, in a way that contributes to consolidating trust between financial institutions and citizens.

Citizen's needs 

Al-Kinani explained that banking awareness among citizens has witnessed remarkable development in recent years, as citizens have become more aware of the importance of banking services and more informed about all new financial products that suit their daily needs and the requirements of their working lives, which reflects the success of the awareness and regulatory efforts made in this field.

He added that the Financial Inclusion Week represents an important opportunity to bring the service provider closer to the citizen directly, through field communication and introducing the available services and mechanisms for benefiting from them, stressing that this continuous banking movement will achieve positive results that serve all parties and contribute to supporting the national economy and enhancing financial stability.  lin

Tishwash:  The Iraqi ambassador to Washington discusses regional developments and government formation with the chairman of the House Subcommittee on the Middle East.

Nizar Al-Khairallah, the Ambassador of the Republic of Iraq to the United States, met with Mike Lawler, Chairman of the Subcommittee on Foreign Affairs of the U.S. House of Representatives concerned with the Middle East and North Africa.

During the meeting, the two sides discussed the ongoing developments in the Middle East region and their implications for Iraq, exchanging views on regional challenges and their impact on internal stability.

The meeting also addressed the process of forming the new government in Iraq, emphasizing the importance of supporting political stability and promoting progress in the democratic process, in order to meet the aspirations of the Iraqi people.

The two sides discussed bilateral relations between Baghdad and Washington, and ways to expand prospects for joint cooperation in various fields, in order to strengthen the strategic partnership between the two countries and serve mutual interests.  link

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Tishwash:  Global Tech partners with Huawei to enhance digital infrastructure in Iraq

Global Tech has entered into a strategic partnership agreement with Huawei to enhance the reliability of digital infrastructure inIraqEspecially in vital sectors.

The company said in a statement received byAlsumaria NewsThe agreement was concluded on the sidelines of a specialized seminar held by Global Tech entitled (Business Continuity in Modern Data Centers) with the participation of a select group of representatives from the banking sector, electronic payment companies, and the technology sector.

 She explained that "the agreement aims to enhance cooperation in the field of data center development and provide advanced solutions that support business continuity, thereby contributing to raising the level of reliability of the digital infrastructure inIraq“Especially in vital sectors.”

The seminar was attended by a number of decision-makers and specialists in the fields of technology and digital infrastructure. Its sessions addressed the readiness of data centers to ensure system continuity and reduce operational risks, in accordance with international standards.
The statement indicated that “the agreement comes within the framework of GlobalTek’s strategy to expand its strategic partnerships and provide integrated solutions that support the development of digital infrastructure and enhance the readiness of institutions to meet the requirements of digital transformation in Iraq.”

According to the statement, the event included a panel discussion with representatives from Huawei and the Uptime Institute, along with GlobalTek and Tabadul for Electronic Payments. The discussion reviewed the most prominent challenges facing business continuity and the role of modern technological solutions in supporting system stability. link

Seeds of Wisdom RV and Economics Updates Wednesday Morning 4-29-26

Good Morning Dinar Recaps,

Peace Talks Stall: Trump Rejects Iran Proposal as Energy Disruptions Intensify

Breakdown in negotiations deepens conflict risks, driving oil volatility and increasing pressure on the global financial system

OVERVIEW (KEY POINTS)

U.S. President Donald Trump has rejected Iran’s latest peace proposal, signaling a widening gap between both sides as the conflict enters a more entrenched phase.

This is happening now because Iran is pushing a phased negotiation strategy, delaying nuclear discussions, while the U.S. insists on addressing core nuclear issues upfront, creating a fundamental disagreement.

Key players include the United States, Iran, Pakistan as mediator, and broader alliances such as the Shanghai Cooperation Organisation, reflecting the expanding geopolitical scope of the conflict.

The broader implication is clear: continued stalemate is prolonging energy disruptions, fueling inflation, and increasing systemic financial stress globally.

KEY DEVELOPMENTS

1. U.S. Rejects Iran’s Phased Peace Proposal

Negotiations face a critical setback.

• Iran proposed delaying nuclear talks until after conflict resolution

• U.S. demands immediate inclusion of nuclear restrictions

2. Strait of Hormuz Disruptions Intensify

Energy supply remains heavily constrained.

• Daily traffic dropped from 125–140 ships to minimal flows

• Oil shipments significantly reduced, tightening global supply

3. Oil Prices Rise on Prolonged Conflict

Markets react to continued instability.

• Oil prices increased nearly 3% amid ongoing disruptions

• Traders pricing in longer-term supply risk

4. Iran Expands Strategic Alliances

Regional alignment is shifting.

• Iran signaling deeper cooperation within the Shanghai Cooperation Organisation

• Potential expansion of defense and economic partnerships

5. Diplomatic Channels Weaken

Efforts to mediate are losing momentum.

• U.S. canceled planned diplomatic outreach to Pakistan

• Reduced engagement increases risk of prolonged stalemate

WHY IT MATTERS

This development highlights how failed diplomacy can directly impact global markets, especially when tied to critical energy infrastructure.

Energy disruptions are feeding into broader economic pressures, increasing inflation, supply chain instability, and market volatility.

For policymakers, the challenge is intensifying. Prolonged conflict limits options while increasing the risk of policy misalignment and economic slowdown.

At the system level, this reinforces a growing trend: geopolitical conflict is now a primary driver of financial system stress.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Energy-importing currencies face downward pressure

• Purchasing power declines due to rising inflation

• Safe-haven currencies may strengthen during uncertainty

• Exchange rate volatility increases across markets

IMPLICATIONS FOR THE GLOBAL RESET

• Pillar 1: Energy Disruption as a Systemic Trigger

Sustained constraints in oil flow highlight how energy supply shocks can destabilize global financial systems, accelerating structural shifts.

• Pillar 2: Fragmentation of Global Alliances

Shifting partnerships signal movement toward a more divided and multipolar geopolitical and financial landscape.

CONCLUSION

The rejection of Iran’s proposal marks a critical escalation point, reinforcing the likelihood of prolonged conflict and continued market disruption.

As negotiations stall, the impact is extending beyond geopolitics into energy markets, inflation, and financial stability.

This is not just a diplomatic breakdown—it is a systemic pressure point with global consequences.

When diplomacy fails at critical energy chokepoints, the global financial system absorbs the shock.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "Trump dissatisfied with Iran peace proposal amid ongoing conflict"

• Modern Diplomacy — "Trump dissatisfied by Iran’s New Peace Proposal"

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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

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

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

Protect your identity. Organize your documents.    Verify everything.

Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News™

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Iraq Economic News And Points To Ponder Wednesday Morning 4-29-26

Oil Dips On UAE OPEC Exit, Hormuz Blockade Props Prices

2026-04-29 Shafaq News   Oil prices eased on Wednesday from a multi-day rally as ‌investors digested the ramifications of the United Arab Emirates' surprise decision to quit OPEC, though supply disruptions from the stalemated Iran war support the market.

Brent crude futures for June dipped 1 cent to $111.25 a barrel by 0413 GMT, having climbed for the previous seven sessions. The June contract expires on Thursday and the more active July contract down 28 cents at $104.12.

Wednesday's slight decrease could be partly linked to the UAE's surprising decision to leave ⁠producer cartel OPEC, said LSEG senior analyst Anh Pham, as it points to a stronger supply outlook when the country is free of the group’s output quotas.

"However, this effect is not immediate, as the incremental barrels may not be deliverable in the near term due to the ongoing Hormuz blockade," he added.

"So while prices are down slightly, this appears to be more of a correction from earlier gains, with Brent still holding at elevated levels around $110 per barrel."

U.S. President Donald Trump has told aides to prepare for an extended blockade of Iran, the Wall Street Journal said on Tuesday, citing U.S. officials.

Trump is opting to keep squeezing Iran's economy and oil exports by blocking shipping traffic with its ports, ‌it ⁠added.

Despite a ceasefire in the U.S.-Israeli war with Iran, the conflict is deadlocked as both sides seek a formal end to the fighting.

Iran has shut the Strait of Hormuz, a conduit for about 20% of global oil and LNG supplies, and the United States blockaded Iranian ports.

"The recent rise in oil prices has been driven by the Strait blockade," said Yang An, an analyst at ⁠Haitong Futures. "If Trump is prepared to extend the blockade, supply disruptions would worsen further and continue to push oil prices higher."

The U.S. is pressing Iran to end what it says is a nuclear weapons programme, while Iran wants some form of reparations for the latest ⁠round of fighting, an easing of economic sanctions and some form of control over the Strait of Hormuz.

The Hormuz shutdown is prompting pulls from global inventories, with market sources saying late on Tuesday the American Petroleum Institute reported U.S. ⁠crude oil inventories fell for a second week.

Crude stocks fell by 1.79 million barrels in the week ended April 24, the sources said. Gasoline inventories fell by 8.47 million barrels, while distillate inventories fell by 2.60 million barrels. (Reuters)

https://www.shafaq.com/en/Economy/Oil-dips-on-UAE-OPEC-exit-Hormuz-blockade-props-prices

Basrah Crudes Outpace Regional Benchmarks Despite Decline

2026-04-29 Shafaq News- Basrah   Iraq’s Basrah crude prices edged lower by 0.12% on Wednesday, outperforming several regional benchmarks.   Basrah Heavy crude fell by 15 cents to $120.93 per barrel, while Basrah Medium crude declined by the same margin to $123.30.

In contrast, Saudi Light stood at $120.30 per barrel, Kuwait crude at $103.79, the UAE’s Murban at $106.70, and Qatar’s Al-Shaheen at $107.

Globally, Brent crude rose $3.08, or 2.8%, to $114.34 per barrel. US West Texas Intermediate (WTI) gained $2.75, or 2.8%, to $102.68.

Iraq prices its crude based on export destinations, with shipments to Asia linked to the Dubai and Oman benchmarks, exports to Europe tied to Brent with premiums or discounts, and cargoes to the United States priced against WTI in line with market conditions. https://www.shafaq.com/en/Economy/Basrah-crudes-outpace-regional-benchmarks-despite-decline

Iran’s Khuzestan Exports $61M To Iraq In One Month

2026-04-29 Shafaq News- Tehran/ Baghdad   Iran’s Khuzestan province exported 221,000 tons of goods to Iraq worth $60.8 million in the first month of the current Iranian year, Iranian media reported on Wednesday.

According to Iranian outlets, local official Behrouz Qarabiji said imports during the same period totaled 874,000 tons valued at $360 million, while customs revenue rose 409% year-on-year to around $51 million. Customs and transit activity also increased, with 30 clearance declarations covering 2,438 tons and 279 transit filings totaling 36,200 tons.

https://www.shafaq.com/en/Economy/Iran-s-Khuzestan-exports-61M-to-Iraq-in-one-month

UAE Exit From OPEC And OPEC+ Sparks Mixed Outlook For Oil Markets

2026-04-29 Shafaq News- Baghdad    The United Arab Emirates’ decision to withdraw from OPEC and the OPEC+ alliance has drawn mixed reactions among specialists, amid close monitoring of global markets for producer compliance with output policies and the impact of geopolitical developments on supply and demand.

Oil expert Dirgham Mohammed Ali told Shafaq News that the UAE’s exit could lead to increased production outside the quota system, raising the risk of a significant supply surplus.

He warned that any unregulated rise in output would put strong downward pressure on prices, potentially leading to sharp declines or even a market collapse, particularly if other OPEC+ members show weak adherence to agreed production limits.

Ali explained that the oil market relies on a balance between supply and demand, noting that any disruption by a major producer such as the UAE would have immediate effects. “Iraq could be among the most affected countries, as more than 90% of its budget depends on oil revenues,” the expert noted.

Economic expert Mohammed Al-Hassani downplayed the potential impact, suggesting that the UAE’s withdrawal would not necessarily trigger a sharp price drop.

In remarks to Shafaq News, he said the market is influenced by multiple factors, including global demand, geopolitical tensions, and the ability of major producers, particularly Saudi Arabia, to stabilize supply through production adjustments.

“The UAE may continue informal coordination with other producers, which could limit market disruptions,” he explained, clarifying, “While any price decline would affect Iraq, it is unlikely to result in a severe collapse.”

https://www.shafaq.com/en/Economy/UAE-exit-from-OPEC-and-OPEC-sparks-mixed-outlook-for-oil-markets

Seeds of Wisdom RV and Economics Updates Tuesday Afternoon 4-28-26

Good Afternoon Dinar Recaps

Energy Shock Wave: Surging Oil and Debt Risks Signal Global Financial Strain

Rising energy prices, inflation pressure, and mounting debt concerns are converging into a potential systemic turning point

OVERVIEW (KEY POINTS)

Global markets are entering a period of heightened stress as energy prices surge sharply due to ongoing Middle East conflict, triggering ripple effects across inflation, debt markets, and economic growth.

This is happening now because disruptions in key supply routes, particularly the Strait of Hormuz, are constraining global oil flows while geopolitical tensions remain unresolved.

Key players include central banks, major economies, and global financial institutions now facing a difficult environment of rising costs, slowing growth, and elevated debt levels.

The broader implication is clear: multiple systemic pressures are converging at once, increasing the probability of structural financial adjustments.

KEY DEVELOPMENTS

1. Energy Prices Surge on Supply Disruptions

Oil markets are tightening rapidly.

• Energy prices projected to rise up to 24% in 2026

• Oil trading near $110 per barrel with upside risk

2. Inflation Pressures Reignite Globally

Energy costs are feeding into broader price levels.

• Inflation forecasts rising across major economies

• Developing nations expected to face 5%+ inflation levels

3. Central Banks Enter Policy Dilemma

Monetary policy is becoming more complex.

• Institutions holding rates steady despite rising inflation

• Balancing growth slowdown vs. inflation control

4. Debt Risks Escalate Across Markets

Financial system vulnerabilities are increasing.

• Warnings of potential global bond market stress

• Rising borrowing costs threaten government and corporate balance sheets

5. Corporate and Consumer Strain Expands

Real economy impacts are becoming visible.

• Companies facing higher input and logistics costs

• Increased risk of price hikes and reduced demand

WHY IT MATTERS

This development highlights a critical convergence: energy shocks, inflation, and debt pressures are reinforcing each other, amplifying systemic risk.

Markets are becoming increasingly sensitive to geopolitical events, with volatility spreading across commodities, bonds, and currencies.

For policymakers, the challenge is acute. Traditional tools are less effective when inflation is driven by supply-side shocks rather than demand.

At the system level, this reflects a transition phase where multiple stress points are testing the resilience of the global financial framework.

WHY IT MATTERS TO FOREIGN CURRENCY HOLDERS

• Energy-importing currencies face downward pressure

• Purchasing power declines as inflation rises

• Safe-haven currencies may strengthen during instability

• Exchange rate volatility increases across regions

IMPLICATIONS FOR THE GLOBAL RESET

Pillar 1: Energy-Driven Financial Realignment

Sustained energy shocks are forcing economies to rethink supply chains, pricing, and trade dependencies, reshaping global economic relationships.

Pillar 2: Debt and Liquidity Stress نقطة

Rising debt burdens combined with higher rates increase the likelihood of financial restructuring or market corrections, impacting the broader system.

CONCLUSION

The current environment represents more than isolated disruptions. It is a convergence of energy, inflation, and debt pressures that is testing the global financial system.

As these forces build simultaneously, the margin for policy error narrows, increasing the risk of instability.

This is not just a cyclical challenge—it reflects deeper structural strain.

When energy shocks collide with debt and inflation, the foundation of the global financial system begins to shift.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• Reuters — "World Bank forecasts 24% surge in energy prices due to war"

• Reuters — "Global inflation worries rise as energy prices surge"

~~~~~~~~~~

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Iraq Economic News And Points To Ponder Tuesday Evening 4-28-26

Iraq’s CF Grants PM-Designate Full Authority To Form Cabinet

2026-04-28 Shafaq News- Baghdad   The Coordination Framework (CF) agreed Tuesday to give Prime Minister-designate Ali al-Zaidi full authority to form his cabinet, following a meeting attended by caretaker Prime Minister Mohammed Shia al-Sudani.   According to a statement, participants discussed cabinet formation and mechanisms for resolving political entitlements, emphasizing adherence to constitutional timelines. 

Leaders called for appointments based on integrity, competence, and national responsibility, and stressed the need for cohesion within the incoming government.   The bloc had nominated al-Zaidi yesterday after al-Sudani and former Prime Minister Nouri al-Maliki withdrew from the race.

Read more: Ali al-Zaidi named Iraq's prime minister: Easy nomination, harder road ahead

https://www.shafaq.com/en/Iraq/Iraq-s-CF-grants-PM-designate-full-authority-to-form-cabinet

The Coordination Framework Is Discussing The Formation Of The Government And Affirms Its Support For The Powers Of The Prime Minister-Designate, Ali Al-Zidi

Baghdad – One News  4/28/2026  The Coordination Framework held a meeting to discuss the formation of the new government, where mechanisms for resolving political entitlements and forming the cabinet were discussed in a way that contributes to building a strong government capable of facing challenges. 

The participants stressed the need to grant Prime Minister-designate Ali al-Zidi full authority to choose members of the ministerial team, in order to ensure harmony within the government and enhance its effectiveness in implementing its program.

The coordination framework stressed the importance of adopting standards of integrity, competence and national responsibility in selecting ministers, in addition to prioritizing the public interest and strengthening the principle of political partnership between different forces.

He also pointed out that the harmony of the next government team is a crucial factor in overcoming crises and achieving the aspirations of the Iraqi people at various levels. https://1news-iq.net/الإطار-التنسيقي-يبحث-تشكيل-الحكومة-وي/

Al-Hurra Website Quotes A Leader In The Coordination Committee: The Selection Of Ali Al-Zidi Surprised The Committee's Representatives, And There Is No American Objection To His Appointment

Baghdad – One News     4/28/2026  Al-Hurra website quoted a member of the coordinating framework as saying that the selection of Ali al-Zidi to form the government came as a surprise to most of the coalition’s deputies, as his name had not been clearly put forward during previous meetings.

He pointed out that the messages that reached the leaders of the framework indicate that Washington does not object to assigning al-Zaidi, in an indication of international acceptance of his personality compared to other options.

 He added that if he succeeds in forming a government within the constitutional deadline of 30 days, he will become the youngest prime minister in the history of Iraq.https://1news-iq.net/موقع-الحرة-عن-قيادي-بالتنسيقي-اختيار-ع/

Monte Carlo: Ali Al-Zaidi, Tasked With Forming The New Iraqi Government, Received A Green Light From Both Iran And The United States

Baghdad – One News    4/28/2026  Monte Carlo International Radio reported that the announcement by the Coordination Framework nominating Ali al-Zaidi for the presidency of the new Iraqi government came after a series of intensive consultations between prominent leaders within the coalition. 

The radio station explained that the head of the Popular Mobilization Forces, Faleh al-Fayyad, held two separate meetings with both the leader of the State of Law Coalition, Nouri al-Maliki, and the outgoing Prime Minister, Mohammed Shia al-Sudani, as part of efforts to resolve the issue of the premiership. 

She added that assessments within some parties within the framework indicate that al-Zaydi received a “green light” from both Iran and the United States, which helped facilitate agreement on his nomination after a period of disagreements within the coalition. https://1news-iq.net/مونت-كارلو-المكلف-بتشكيل-الحكومة-العر/

A leader in the Sudanese coalition: Ali al-Zaidi's appointment depends on overcoming the American veto.

2026-04-28 Shafaq News – Baghdad   A leader in the “Reconstruction and Development” coalition, headed by outgoing Prime Minister Mohammed Shia al-Sudani, said on Tuesday that assigning Ali al-Zidi to form the new government could represent a “rising political phenomenon” or a “major setback,” considering that the matter depends on his ability to overcome the American “veto” peacefully.

Qusay Mahbouba said in a statement regarding Al-Zidi's assignment to form the new government by the Coordination Framework, "Ali Al-Zidi will either be a bridge for others, or they will become a bridge for him."

He added that al-Zaidi "could be a rising political phenomenon, or he could be a major setback," noting that his success depends on his ability to safely cross the American veto.

He continued: "We don't know the man yet, neither his ideas nor his capabilities nor the features of his political personality," indicating that the question is whether he will be a bridge to a larger project, or will turn everyone into a bridge to his project "if he has a project at all."

Mahbouba considered that the Shiite coordination framework “has exhausted its political and moral presence in the Iraqi arena,” and is no longer able to shape the future of Iraq or monopolize Shiite decision-making, adding that the framework “has practically ended politically and morally.”

He pointed out that this "could be a good thing," because the end of the political monopoly opens the door to the birth of new equations, and perhaps to a different Iraqi opportunity.

The ruling Shiite coalition forces in Iraq announced on Monday evening the nomination of al-Zaidi for the premiership, following the withdrawal of outgoing Prime Minister Mohammed Shia al-Sudani and former Prime Minister Nouri al-Maliki, leader of the State of Law Coalition, from the race for the position. 

https://www.shafaq.com/ar/سیاسة/قيادي-في-ا-تلاف-السوداني-تكليف-علي-الزيدي-مرهون-بعبور-الفيتو-ال-ميركي

Iraq’s Dominant Bloc Taps Newcomer Ali Al-Zaidi For Prime Minister After Weeks Of Wrangling

By  QASSIM ABDUL-ZAHRA  Updated 10:30 PM CEST, April 27, 2026  BAGHDAD (AP) — Iraq’s dominant parliamentary bloc on Monday nominated Ali al-Zaidi, a businessman and political newcomer, to be the country’s prime minister.

 The announcement by the Coordination Framework, a coalition of Shiite parties allied with Iran, followed a meeting at the government palace. It came after weeks of internal debate among its member parties aimed at selecting a compromise candidate to lead the next government.

President Nizar Amidi then tasked al-Zaidi with forming a government. Even with the backing of the dominant bloc, the new government is not assured of receiving the required number of votes.

 The coalition had previously said it would back former Prime Minister Nouri al-Maliki, who the U.S. administration views as too close to Iran. U.S. President Donald Trump publicly announced his opposition to al-Maliki and threatened to cut off aid to Iraq if he was appointed.

 While al-Maliki remained defiant after Trump’s intervention, the bloc decided to shift to a compromise candidate.

 In a statement announcing al-Zaidi’s nomination, the Coordination Framework thanked al-Maliki and incumbent Prime Minister Mohammed Shia al-Sudani for their “historic and responsible positions” in withdrawing their candidacies to help overcome the political deadlock. Al-Sudani issued a statement congratulating al-Zaidi.

 Al-Zaidi, who is chairman of Al-Janoob Islamic Bank, emerged in the final stages of discussions as one of the leading candidates, bolstered by his economic background and business and investment connections. He has not previously held political office.

 Following his nomination, al-Zaidi promised to focus on making Iraq “a balanced country, regionally and internationally.”

 “This appointment comes at a sensitive time that requires concerted efforts from all political and social forces,” he said.

Under the constitution, the designated prime minister has 30 days to present a Cabinet lineup to the parliament, which requires 167 votes to secure a vote of confidence.

 The next government will have to deal with the political and economic fallout of the U.S.-Israeli war against Iran, which spilled over into Iraq while the closure of the Strait of Hormuz has disrupted the oil exports on which Iraq’s economy depends.

 The new government will also face challenges in dealing with the issues of corruption, uncontrolled weapons outside state authority, and the future of the Popular Mobilization Forces, a coalition of Shiite militias that are nominally under the Iraqi military but in practice largely outside of its control. 

https://apnews.com/article/iraq-prime-minister-parliament-alzaidi-bb629c0f14c6710cbb66500fe376218e

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