Seeds of Wisdom RV and Economic Updates Friday Morning 2-14-25

Good Morning Dinar Recaps,

TWO NEW FEDERAL LAWSUITS CHALLENGE TRUMP, MUSK AND DOGE ON CONSTITUTIONAL GROUNDS

WASHINGTON — More than a dozen state attorneys general and numerous current and former government employees filed lawsuits Thursday aiming to stop billionaire Elon Musk from shuttering federal agencies.

The two complaints allege the far-reaching power Musk has asserted under the so-called Department of Government Efficiency, or DOGE, is a violation of the Constitution’s Appointments Clause. The clause stipulates presidential appointments must come under the advice and consent of the U.S. Senate.

“Questions regarding Defendant Musk’s and DOGE’s role, scope of authority, and proper appointment processes are not merely academic. Plaintiffs — among countless other American individuals and entities — have had their lives upended as a result of the actions undertaken by Defendants Musk and DOGE,” according to a complaint filed by 26 unnamed former and current employees in the U.S. District Court for the District of Maryland.

The employees, though unidentified, collectively have decades of service at federal agencies, including USAID, where on Feb. 2 Musk’s DOGE personnel broke into the agency’s headquarters.

Citing damages to their careers and financial security, the plaintiffs are seeking the court to block “Defendant Musk and his DOGE subordinates from performing their significant and wide-ranging duties unless and until Defendant Musk is properly appointed pursuant to the U.S. Constitution.”

Democratic attorneys general

Fourteen state attorneys general filed a separate lawsuit in the U.S. District Court in the District of Columbia, requesting the court block further action from Musk and DOGE. The lawsuit also names President Donald Trump as a defendant.

Trump established the U.S. DOGE Service on his first night in office via executive order, and created the entity as a temporary organization with the purposes of modernizing government technology. Presidents do not have the power to create new federal agencies; by law only Congress can.

Musk is a “special government employee,” according to the White House.

The state attorneys general also argue that Musk’s actions, with Trump’s blessing, are violating the law governing temporary organizations under the executive branch.

“By its plain terms, this limited authorization does not amount to a carte blanche grant of authority to the Executive to create new federal agencies from whole cloth,” according to the complaint.

In the first three weeks of Trump’s administration, Musk and his personnel — most of whom worked at one of Musk’s private companies — have accessed the backend of numerous government agencies, including the Department of Treasury’s central payment system, and orchestrated the ouster of civil servants.

Musk has touted on X canceling millions upon millions in government payments and contracts.

Lawsuits pile up

The two lawsuits Thursday are just the latest among scores of legal challenges piling up against Musk and Trump.

Musk has lashed out on X, his own social media platform, against federal judges who have issued injunctions against the Trump administration.

New Mexico Attorney General Raúl Torrez said the U.S. Constitution was “founded in part to guard against the accumulation of state power in the hands of a single individual.”

“And while that construction was first focused on the abuse of power of an 18th-century monarch, it is no less dangerous in the hands of a 21st-century tech tycoon,” Torrez said during a virtual Thursday press conference alongside Arizona Attorney General Kris Mayes and Michigan Attorney General Dana Nessel.

Mayes said Americans are witnessing an “ongoing coup against the Constitution of the United States as we speak.”

“The richest man in the world is now running roughshod over the authority of federal agencies in violation of the rule of law and the Constitution,” Mayes said.

Nessel said Musk’s actions are “by far the largest and most urgent concern of the individuals, Michiganders, who have been reaching out to my office.”
]
“It’s left them feeling hopeless and paralyzed to protect themselves, their personal information, critical funding, programming and jobs that they depend on,” Nessel said during the press conference.

State attorneys general from California, Connecticut, Hawaii, Maryland, Massachusetts, Minnesota, Nevada, Oregon, Rhode Island, Vermont and Washington, also joined the lawsuit.

Musk’s estimated wealth is $379 billion, according to Bloomberg’s billionaire index cited by the government employee plaintiffs. Musk owns Tesla, SpaceX, Neurolink, xAI and X, formerly known as Twitter. During the 2024 presidential election cycle, Musk was the top donor to Trump and Republicans at $288 million.

@ Newshounds News™

Source:  TennesseeLookout

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MICHIGAN BECOMES LATEST STATE TO PROPOSE CRYPTO RESERVE BILL

A bill filed in Michigan’s House would allow the state to buy crypto and lend it out to increase yields for state funds.

Michigan has become the latest US state to propose a strategic Bitcoin reserve bill, bringing the total number of states moving crypto reserve-related legislation to 20.

On Feb. 13, Representatives Bryan Posthumus and Ron Robinson introduced HB 4087 to amend the state’s Management and Budget Act to establish a strategic Bitcoin reserve.

The move makes Michigan the 20th US state with legislation for state crypto investments pending a vote.

“Michigan can and should join Texas in leading on crypto policy by signing into law my bill creating the Michigan Crypto Strategic Reserve,” Posthumus said on X. Texas Senator Charles Schwertner had filed a similar bill to the state’s Senate on Feb. 12.

The Michigan bill would allow the state’s treasurer to invest in crypto from both the general fund and economic stabilization fund with a cap of 10%. The bill doesn’t specify any limits or guidelines for what cryptocurrencies can be bought for the reserve.

The bill also includes a provision for lending crypto, saying that “if cryptocurrency can be loaned without increasing financial risk to this state, the state treasurer is permitted to loan the cryptocurrency to yield further return to this state.”

The state must hold crypto directly through secure custody solutions or exchange-traded products from registered investment companies.

Michigan’s state pension fund already has exposure to Bitcoin and Ether exchange-traded funds.

Posthumus also floated the idea of “MichCoin” in a Feb. 13 X post, which he said was “a stablecoin, which I believe the state of Michigan should create” that he said would “have real value — tied to our gold and silver reserves.”

There are currently 20 US states that have crypto reserve bills that have advanced beyond the level of a House committee.

The most recent state to propose or amend a crypto bill was Texas, which filed for legislation this week to allow the state to invest and trade crypto assets. North Dakota, meanwhile, is the only state to have rejected legislation regarding crypto investments.

@ Newshounds News™

Source: CoinTelegraph

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“Tidbits From TNT” Friday Morning 2-14-2025

TNT:

Tishwash: this is about old dollar notes ... or is it?

Iraq’s market turns away from “old US Dollar”

Deeply entrenched since the 2003 US invasion, the dollar has become a cornerstone of Iraq’s economy, fueling oil exports, trade, and daily transactions, effectively operating as a parallel currency. However, older banknotes, especially pre-2003 issues, face growing rejection from traders and exchange offices.

Dollar in Iraqi Economy

The US dollar holds a significant position in Iraq's economy, functioning almost as a secondary currency. This prominence is rooted in the economic restructuring that followed the 2003 US invasion, during which the United States assisted in establishing the Central Bank of Iraq. Consequently, the dollar became deeply integrated into Iraq's financial system, especially given the country's substantial informal economy that relies heavily on cash transactions.

Iraq's oil industry, accounting for nearly 99% of the country’s exports, operates primarily in US dollars. This reliance reinforces the dollar’s dominance while closely linking Iraq’s economic stability to fluctuations in the US currency.

In Iraq, the old-design $100 US banknote, particularly those printed in 2003 or earlier, is commonly referred to as “Al-Ammani.” The term dates back to the 1990s when this denomination was widely circulated in Amman, Jordan. Due to strong trade ties between Iraq and Jordan at the time, the nickname made its way into Iraq.

Turns Away from Old Dollar Bills

Over time, new versions of the $100 bill with enhanced security features were introduced, making older editions less common in circulation.

Ahmed Sadiq, owner of Al-Aws exchange office, told Shafaq News that “some currency exchange offices refuse to buy old-design US dollar banknotes from customers,” noting that others accept them but at a rate 2,000 to 3,000 dinars lower than the market price.

He added that some exchange offices stamp certain dollar banknotes with a special office seal to avoid disputes, “because some customers have returned dollar bills to exchange offices, claiming they were counterfeit and alleging they had purchased them from those offices.”

“Marking foreign currency with a seal could create difficulties for buyers when trying to exchange them abroad,” he acknowledged.

For his part, Jowad Malik, owner of Al-Fas exchange office, told Shafaq News that “the reluctance to deal with old-design US dollars stems from counterfeiting cases in Turkiye and Jordan and rumors of such banknotes entering Iraq.” He noted that “many exchange office owners no longer accept them, considering them a thing of the past, or they buy them at a discount of up to 20,000 dinars or more—mainly those who can exchange them at the central bank.”

He also pointed out that many exchange offices refuse to handle $1 bills sometimes even $5 bills, despite neighboring countries accepting, assuming that this is largely influenced by major traders who dominate dollar transactions.

In addition, Iraqi trader Haider Al-Hassani told Shafaq News that he completely avoids dealing with old US dollar banknotes “to prevent counterfeiting risks,” as “older notes lack clear security features.”

Al-Hassani added that he also refrains from trading even in new US dollar bills, stating that “economic security regulations prohibit their exchange at market rates.”

Official Stance and Banking Regulations

Director General of Accounting at the Central Bank, Ihsan Shammran, stated to Shafaq News that “all US dollar banknotes issued by the Federal Reserve remain in circulation, and there are no directives from the bank suggesting otherwise, provided the notes are authentic and not counterfeit.”

He added that “the Central Bank of Iraq (CBI) and commercial banks continue to accept all denominations and past series of US dollar banknotes as long as they are genuine.”

Regarding the legitimacy of refusing the banknotes, the financial expert and former CBI Director General, Mahmoud Dagher, explained to Shafaq News that “no matter what happens, neither the public, traders, nor exchange office owners can be forced to accept old-design US dollars,” calling the practice a matter of personal discretion. link 

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Tishwash:  Iraq, Czech strengthen ties with key agreements

On Thursday, Iraqi Prime Minister Mohammed Shia al-Sudani met with Czech Prime Minister Petr Fiala in Prague.

Al-Sudani’s media office stated that both sides signed an agreement and five memorandums of understanding across various sectors.

“The ceremony included the signing of an air transport agreement between the Iraqi and Czech civil aviation authorities, as well as a memorandum of understanding between the Iraqi Ministry of Oil and the Czech Ministry of Industry and Trade.”

The media office added that “a draft memorandum of understanding was signed between the Ministries of Interior of Iraq and the Czech Republic, along with a cooperation memorandum between the Iraqi and Czech Federations of Industries, another between the Iraqi and Czech Chambers of Commerce, and a letter of intent with the Iraqi Ministry of Environment.” link

Tishwash:  Valentine's Day gifts, led by the Tahoe, revive local markets in Iraq

Valentine's Day gift shops witnessed a state of peak and alert during the past two days, as the demand for buying gifts that reflect feelings of love and affection between spouses and lovers increased.

Ibrahim Ali, owner of a gift shop, told Baghdad Today, “Valentine’s Day begins on February 14, and this occasion has begun to witness an increasing presence in Iraqi society, especially in recent years.”

He explained that "there is a real demand for buying gifts by couples, but what is interesting is that the subject is not limited to the youth or newlyweds, but even the elderly, which reflects a message of affection and mercy between spouses and the continuation of the marital relationship. It is an expression of gratitude, communication and harmony, and is a beautiful moment."

Ali added, "Today is the peak day for us, and there is a great demand for buying Valentine's Day gifts, but the level of demand varies from year to year. In some years, demand was very high, and in other years it was low, and this is affected by economic and security factors that put pressure on the level of purchasing."

For his part, Wasfi Karim, who is also a gift seller, pointed out that “the purchasing rate in the past few days was somewhat good, but less than last year, and we hope that today will witness a greater turnout, especially since the weather and general atmosphere encourage celebrating Valentine’s Day, although the economic situation still affects the rates of celebration.”

Karim explained that “a large portion of his customers are shy, so when someone buys a gift for Valentine’s Day, they put it in a dark bag, trying to hide their celebration of this occasion. This reflects an individual privacy that cannot be generalized.”

In a related context, Wajdi Al-Azzawi, owner of a gift and materials sales agency, said, “Valentine’s Day gifts are prepared early, up to a month or two, and are distributed to a large number of shops in Baqubah and the cities of Diyala, and even in the countryside there is a demand for them.”

He told Baghdad Today, "This phenomenon reflects the community's interaction with the occasion, even though we are in a conservative environment, and there are calls to reduce the celebration of Valentine's Day, but it seems that the language of love between spouses, even if it is not announced, is increasingly interacting."

Al-Azzawi added, "Society interacts with this occasion in varying degrees. In some years, there are big celebrations, while in other years, the celebration is modest. Therefore, there are many factors that affect the celebration of Valentine's Day."

In turn, economic expert Nabil Al-Marsoumi stated that "there is an increase in demand for Tahoe cars on Valentine's Day."

Al-Marsoumi pointed out on his Facebook account, which was followed by Baghdad Today, that “Valentine’s Day is one of the most prominent commercial seasons in the world, as it witnesses a significant increase in spending rates on gifts and celebrations, which enhances the movement of markets and supports many economic sectors, from trade to hospitality and tourism. The travel sector also witnesses a noticeable recovery during this occasion, which prompts airlines and hotels to launch special offers to enhance tourism.” 

Al-Marsoumi added, “Valentine’s Day has some positive effects on various economies, as estimates from the Ornamental Plants and Products Exporters Association indicate that Turkey exported about 75 million roses to Europe, worth up to $10 million. These roses were exported to 30 countries, most notably the Netherlands, Britain, Germany and Romania, driven by Valentine’s Day events this year.

 In the United States, consumer spending on this occasion rises to more than $20 billion, which leads to accelerating the growth rate of the gross domestic product there,” noting that “the impact will be limited in developing countries, including Iraq, as the increase in consumer spending will lead to an increase in imports without leaving a positive impact on the economy.”

The economic expert added, "Iraqis spend a lot of money on travel on Valentine's Day, especially since Iraq's average annual spending on tourism, according to World Bank estimates, is $7.5 billion," adding, "This is due to the poor distribution of income in Iraq, which is represented by a small segment of the population controlling the largest part of the national income. There are 36 billionaires in Iraq, each of whom owns more than a billion dollars, and according to a French study, there are 16 thousand millionaires, each of whom owns between one million and one billion dollars."

He added, "Because of this, Valentine's Day this year witnessed a great demand from these rich people for Tahoe cars as gifts presented on this occasion, noting that the price of the Tahoe is about 100 million dinars, which is equivalent to the monthly salaries of about 150 employees."

Valentine's Day, or as it is known, Love's Day, is one of the social occasions celebrated by the world and Iraqis in February of each year, where people compete to buy gifts and present them to their partners, as gifts and their shops are colored red, expressing the color of the heart, in a step that expresses sharing love.  link

Mot: hee hee hee They wont see it coming 

Mot: When Ya Just Have Had Enough of the Silliness!!! 

Mot: Go fur it -- if its fur You!!! 

Iraq Economic News and Points to Ponder Thursday Evening 2-13-25

Iraq Economic News and Points to Ponder Thursday Evening  2-13-25

Investments 2025: Economic Renaissance Under The Umbrella Of The General Budget

Time: 2025/02/13 12:56:05 Read: 1,725 ​​times  {Economic: Al Furat News} Mazhar Muhammad Salih, financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, confirmed today, Thursday, that investment projects for the year 2025 are an integral part of the investment section in the Federal General Budget Law.

He added in his statement to {Euphrates News} that "the three-year general budget was enacted to give the development policy sufficient flexibility in implementing investment projects without interruption, according to a flexible and rational vision that takes into account the indicators of the National Development Plan 2024-2028, and according to the available financing capabilities drawn up in the plan and the general budget together."  LINK

Iraq's Golden Treasure.. Will It Protect The Country From Economic Fluctuations?

Time: 2025/02/13 Read: 1,380 times   {Economic: Al Furat News} Member of the Finance Committee, Jamal Kocher, confirmed that Iraq’s gold reserves represent a safety valve for the Iraqi economy.

"Iraq's gold reserves make Iraq and the entire state safe and protect the country from any sudden economic crises," Kocher told {Euphrates News}.
Kocher pointed out that "the issue of rising and falling gold prices globally does not affect the reserve."
Gold is considered a safe haven in times of economic crises, as it maintains its value or increases with the deterioration of other currencies.
Iraq has a large gold reserve, which enhances its economic strength and protects it from external shocks.
The economic advisor to the Prime Minister, Mazhar Mohammed Salih, revealed Iraq's gold reserves, estimated at about 152 tons.
Although gold prices may fluctuate globally, this does not affect the value of Iraq's gold reserve in the long term.  LINK

Al-Maamari: The Central Bank Supports The Agricultural, Industrial And Residential Sectors With Loans Amounting To One Billion Dinars Through The Electronic Development Portal

Thursday 13 February 2025 Economic Number of readings: 368  Mosul / NINA / The official in charge of the alternative energy file in Nineveh, Khader Al-Maamari, confirmed that the Central Bank of Iraq has launched an initiative to support the agricultural and industrial sectors, in addition to the housing sector, by providing loans of up to one billion dinars for some projects through the electronic development portal.

He said in a statement to the National Iraqi News Agency / NINA / that "the initiative comes within the framework of government efforts to stimulate the national economy and enhance sustainable development in Iraq, which contributes to raising the level of local production and achieving stability in these vital sectors."

Al-Maamari added that "the loans provided will target projects that contribute to providing job opportunities, increasing local production, and encouraging investment in the fields of agriculture, industry and housing. He also pointed out that applying for these loans will be through the electronic development portal launched by the Central Bank, which facilitates the application process and speeds up procedures for beneficiaries."

He urged "all investors and owners of small and medium enterprises in Nineveh to take advantage of this opportunity, stressing that the initiative represents a real opportunity to support agricultural, industrial and housing projects that contribute to developing the infrastructure and achieving sustainable development in the governorate."

He pointed out that "the process of applying for loans will be carried out according to specific terms and conditions, as the submitted projects will be carefully studied to ensure that loans are allocated to the most feasible projects. He expected that this program will contribute to strengthening the local economy and providing job opportunities for young people in Nineveh."

He explained, "Awareness workshops will be organized for potential beneficiaries in Nineveh on how to apply and benefit from this initiative, to ensure maximum benefit from the support provided." / End

https://ninanews.com/Website/News/Details?key=1185413

Dollar Prices Fall In Baghdad Markets

Stock Exchange  Economy News – Baghdad  The US dollar exchange rate fell this morning, Thursday, in Baghdad markets.

The dollar prices witnessed a decrease in the Al-Kifah and Al-Harithiya stock exchanges, recording 150,250 Iraqi dinars for every 100 dollars, while yesterday morning, Wednesday, it recorded 150,400 dinars for every 100 dollars.

Selling prices in exchange shops in local markets in Baghdad recorded a decrease, as the selling price reached 151,250 Iraqi dinars for 100 dollars, while the purchase price reached 149,250 dinars for 100 dollars.  https://economy-news.net/content.php?id=52750

Gold Continues Its Historic Rise In Baghdad Markets

Stock Exchange   Economy News – Baghdad   The prices of foreign and Iraqi gold rose in the local markets in the capital, Baghdad, today, Thursday (February 13, 2025).

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 616 thousand dinars, and a purchase price of 612 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 586 thousand dinars, and the purchase price was 582 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 615,000 and 625,000 dinars, and the selling price of a mithqal of Iraqi gold ranges between 505,000 and 515,000 dinars.   https://economy-news.net/content.php?id=52755

National Bank Of Iraq Achieves Strong Financial Growth In 2024

Banks    The National Bank of Iraq announced its financial results for the year 2024, which showed remarkable growth in various financial indicators, reflecting the strength of the bank’s performance and its expansion in providing banking and credit services.

The bank's assets during the year 2024 amounted to about 5.1 trillion Iraqi dinars compared to 3.9 trillion dinars in 2023, recording a growth rate of 30.8%. Credit facilities also increased to 1.78 trillion dinars after they were 1.3 trillion dinars in 2023, achieving a growth rate of 36.9%.

As for deposits, they witnessed a significant increase, reaching 3.46 trillion dinars in 2024, compared to 2.9 trillion dinars in 2023, an increase of 19.3%. Pre-tax profits also rose to 293.9 billion dinars in 2024, after they were 228.9 billion dinars in 2023, recording a growth of 28.4%.

As for revenues, they increased to 452 billion dinars in 2024, compared to 343.1 billion dinars in 2023, with a growth rate of 31.7%. The bank’s investments in government bonds amounted to about 920 billion dinars.

The bank achieved net profits after deducting income tax of 252.3 billion dinars during the past year, while the volume of the bank’s purchases on behalf of customers from the currency sales window amounted to more than 16.2 billion dollars, which resulted in achieving commissions worth 151 billion dinars.     https://economy-news.net/content.php?id=52762

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 2-13-25

Good Evening Dinar Recaps,

JUDGE REMOVES KEY LEGAL HURDLE FOR TRUMP’S PLAN TO TRIM FEDERAL WORKFORCE WITH DEFERRED RESIGNATIONS

WASHINGTON (AP) — A federal judge on Wednesday removed a key legal hurdle stalling President Donald Trump ’s plan to downsize the federal workforce with a deferred resignation program.

The Boston-based judge’s order in the challenge filed by a group of labor unions was a significant legal victory for the Republican president after a string of courtroom setbacks.

“This goes to show that lawfare will not ultimately prevail over the will of 77 million Americans who supported President Trump and his priorities,” said White House press secretary Karoline Leavitt.

Another group of unions filed a lawsuit in Washington, D.C. late Wednesday, though its potential impacts were not immediately clear.

About 75,000 federal workers accepted the offer to quit in return for being paid until Sept. 30, according to McLaurine Pinover, a spokesperson for the Office of Personnel Management.

She said the deferred resignation program “provides generous benefits so federal workers can plan for their futures,” and it was now closed to additional workers.

American Federation of Government Employees National President Everett Kelley said in a statement that the union’s lawyers are assessing the next steps.

“Today’s ruling is a setback in the fight for dignity and fairness for public servants,” Kelley said. “But it’s not the end of that fight. Importantly, this decision did not address the underlying lawfulness of the program.”

The union continues to maintain that it’s illegal to force American citizens to make a decision, in a few short days, without adequate information, about “whether to uproot their families and leave their careers for what amounts to an unfunded IOU from Elon Musk,” the statement said.

U.S. District Judge George O’Toole Jr. in Boston found that the unions weren’t directly affected, so they didn’t have legal standing to challenge the program, commonly described as a buyout. O’Toole was nominated by former President Bill Clinton, a Democrat.

@ Newshounds News™

Source:  AP News

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BRICS: US TRADE WAR, TARIFFS HAS GLOBAL MARKETS PREPARING FOR THE WORST

With geopolitical tensions reaching a fever pitch, the brewing BRICS and US trade war driven by the implementation of new Trump tariffs has global markets preparing for the worst.

Indeed, the US President has continued to forward his aggressive economic policy. Subsequently, it has driven the world to respond as concern rises.

Throughout his campaign for reelection, Trump was adamant that tariffs would be a reality of his returning administration. To this point, he has kept to that word. Yet, the implications of that are beginning to come into view. Moreover, global markets are preparing for them to be dire.

BRICS & US Tensions Push Gold to All-TIme High as Experts Fear for the Worst

The US President has made no qualms about his belief in the US dollar. Indeed, he has maintained his position that the greenback’s status is of the utmost importance. 

Last year, he told American citizens that losing its global reserve position would be akin to the nation losing a war.

The effort to preserve the currency’s status has led him to engage with the global south in growing and concerning tensions. As the BRICS bloc and the US prepare for a potential trade war, the global market share is operating for the worst from the continued arrival of Trump tariffs.

The US is set to impose tariffs on metals coming from North American neighbors Canada and Mexico, as well as China. This has led to retaliate tariffs and plummeting base metal prices. Moreover, gold has surged to an all-time high as investors have rushed to the safe haven asset.

Specifically, it reached a price of $2,818 according to Reuters. Meanwhile, US gold futures edged 0.8% higher Wednesday, reaching $2,857.

Financial experts are projecting widespread economic impacts from the ongoing tariffs and retaliatory import taxes. Specifically, with 75% of annual exports from Canada and Mexico to the US coming in the form of metals, they project notable ramifications.

CNN reported that China is preparing a “countermeasure” to the Trump tariffs. However, things between Trump and Chinese President Xi Jinping have been “very good,” according to experts. So, there is the belief that the two could work to avoid a trade war, despite the opposing stance.

Ultimately, growing tensions will drive production costs and consumer prices and alter trade dynamics. These are all realities that BRICS, the US, and global markets must prepare for. How greatly they impact the world, however, remains to be seen.

@ Newshounds News™

Source:  Watcher Guru

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More “Iraq News” Posted by Clare at KTFA 2-13-2025

KTFA:

Clare:  Trump advisory team member: Iraq's security is part of America's security

2/12/2025

Considered a member of the US President's Advisory Team Donald Trump, Wednesday, Security Iraq Part of the security of the United States, describing Iraq In an important and allied country.

Gabriel Souma said during his interview with the program "From the Last" broadcasted by Sumerian Al-Fadaiya: “America requested when Biden was in the White House that Sudanese By dissolving the Shiite factions loyal to Iran.

He asked, "What is the mission of the factions as long as there is an Iraqi army?", stressing, "There are dangers from these factions to the situation in Syria," according to his description.

In addition, Souma said, "Security Iraq Part of security US He is a friend and ally, and they have strong relations," he added, "Iraq is an important country and an ally of the United States of America."  LINK

Clare:  Al-Sudani pays official visit to Czech Republic

2/13/2025

Prime Minister Mohammed Shia Al-Sudani headed to the capital, Prague, on Thursday morning, on an official visit to the Czech Republic.

The official reception ceremony for Prime Minister Mohammed Shia Al-Sudani took place in the Czech capital, Prague, and he was received by the Czech Prime Minister, Mr. Petr Fiala.

The Sudanese media office stated that the ceremony included playing the national anthems of both Iraq and the Czech Republic, reviewing the guard of honor, and taking commemorative photos by both sides.

During the visit, Al-Sudani will hold talks with the Czech Prime Minister, and will also meet with the President of the Czech Republic. The visit will include the signing of memoranda of understanding in a number of fields, as well as holding a series of meetings with Czech companies, and a meeting with the Iraqi community in the Czech Republic.  LINK

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Clare: Iraq and Czech Republic sign an agreement and 5 memoranda of understanding

2/13/2025

On Thursday, Iraqi Prime Minister Mohammed Shia al-Sudani and his Czech counterpart, Petr Fiala, sponsored the signing of an agreement and five memoranda of understanding.

According to a statement by Al-Sudani's media office received by Shafaq News Agency, the latter and his Czech counterpart sponsored "the signing ceremony of an agreement and five memoranda of understanding in several fields, within the framework of Al-Sudani's official visit to the Czech capital, Prague, which he arrived at today, Thursday."

According to the statement, an air transport agreement was signed between the Iraqi and Czech civil aviation authorities, and a memorandum of understanding was signed between the Ministry of Oil and the Czech Ministry of Industry and Trade.

The ceremony also witnessed the signing of a draft memorandum of understanding between the Ministries of Interior in Iraq and the Czech Republic, a memorandum of cooperation between the Iraqi and Czech Federations of Industries, a memorandum of cooperation between the Iraqi and Czech Federations of Chambers of Commerce, as well as a letter of intent with the Iraqi Ministry of Environment.  LINK

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Clare:  Investments 2025: Economic renaissance under the umbrella of the general budget

2/13/2025

Mazhar Muhammad Salih, financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, confirmed today, Thursday, that investment projects for the year 2025 are an integral part of the investment section in the Federal General Budget Law.

 He added in his statement to {Euphrates News} that "the three-year general budget was enacted to give the development policy sufficient flexibility in implementing investment projects without interruption, according to a flexible and rational vision that takes into account the indicators of the National Development Plan 2024-2028, and according to the available financing capabilities drawn up in the plan and the general budget together."

From.. Raghad   LINK

Clare:  America stops the dollar cash to Iraq: Will the dollar rise against the dinar?

February 12, 2025

Last updated: February 12, 2025

Independent/- In a surprising move, reports indicate that the United States has decided to stop sending cash dollars to Iraq, a decision that could have profound effects on the Iraqi economy and its financial market. This shift raises many questions about its impact on the value of the Iraqi dinar, currency markets, and the local banking sector.

What is a cash dollar?

Cash dollars refer to money that is physically sent to Iraq by the United States, usually through banks or other economic mechanisms. This cash flow has played an important role in supporting the Iraqi economy, especially in light of the economic challenges facing the country.

The reason behind the American decision

Sources indicate that the US decision comes in the context of economic and diplomatic pressures on Iraq, which include issues related to the national economy and monetary policies. Some reports also indicate that the United States may seek to limit the use of the dollar in Iraqi financial transactions, in an attempt to enhance the stability of the local currency and reduce dependence on foreign currencies.

Impact of the decision on the Iraqi dinar

The decision is expected to cause significant volatility in the local currency market. The US dollar is one of the main currencies traded in Iraq, and stopping its flow of cash could lead to a shortage in supply, which could push the dollar higher against the dinar.

The impact of the rise on the Iraqi market

The increase in the value of the dollar may lead to higher prices in the Iraqi market, which will exacerbate the burden of inflation and affect the ability of citizens to purchase basic commodities. This may also indirectly affect economic activity, especially in sectors that rely heavily on imports.

Are there any solutions?

The Iraqi government will face a major challenge in dealing with these developments. The next phase may require developing new economic and financial strategies to mitigate the impact of sudden changes in currency rates. It is necessary to have a move towards strengthening the Iraqi dinar and diversifying the sources of the national economy away from heavy reliance on the dollar.

Conclusion

In light of these developments, it will be important to monitor the short- and long-term effects of this decision. Iraq needs decisive steps to secure the stability of its national currency and protect its economy from the repercussions of the decision to stop the use of the cash dollar.   LINK

Iraq Economic News and Points to Ponder Thursday Afternoon 2-13-25

America Stops The Monetary Dollar On Iraq: Does The Dollar Rise Against The Dinar?
 
February 12, 2025 Last update: February 12, 2025  Independent/- In a surprising step, reports indicate that the  United States of America decided to stop sending the cash dollar to Iraq, a decision that may have profound implications for the Iraqi economy and its financial market.
 
This shift raises many questions about its impact on the value of the Iraqi dinar, currency markets, and the local banking sector.

What Is The Cash Dollar?
 
The cash dollar indicates the money that is financially sent to Iraq by the United States, usually through banks or through other economic mechanisms.
 
This cash flow was playing an important role in supporting the Iraqi economy, especially in light of the economic challenges facing the country.
 
The Reason For The American Decision
 
The sources indicate that the American decision comes in the context of economic and diplomatic pressures on Iraq, which includes issues related to the national economy and monetary policies.
 
Some reports also indicate that the United States may seek to reduce the use of the dollar in Iraqi financial transactions, in an attempt to enhance the stability of the local currency and reduce dependence on foreign currencies.
 
The Impact Of The Decision On The Iraqi Dinar
 
This decision is expected to lead to noticeable fluctuations in the local currency market.
 
The US dollar is considered one of the basic currencies that are traded in Iraq, and
 
its cash flow stopped may lead to a lack of supply, which may push the dollar to rise against the dinar.
 
The Impact Of The Rise On The Iraqi Market
 
Increasing the value of the dollar may lead to high prices in the Iraqi market, which exacerbates the burden of inflation and affects the ability of citizens to buy basic commodities.
 
This may also indirectly affect economic activity, especially in sectors that depend heavily on import.
 
Are There Solutions?
 
The Iraqi government will have a major challenge in dealing with these developments.

The next stage may require the development of new economic and financial strategies to alleviate the impact of sudden changes in currency rates.
 
It is necessary that there be a trend towards strengthening the Iraqi dinar and diversifying the sources of the national economy away from the great dependence on the dollar.
 
Conclusion
 
With these developments, it will be important to follow the effects of this decision in the short and long term.  Iraq needs decisive steps to secure the stability of its national currency and protect its economy from the repercussions of the decision to stop the monetary dollar.  https://mustaqila.com/أمريكا-توقف-الدولار-النقدي-على-العراق/    

Iraq Moves Towards Globalization.. Implementation Of International Accounting Standards Begins In 2026

Time: 2025/02/13 18:45:57 Read: 1,560 times  {Economic: Al Furat News} The former director of the Financial Supervision Bureau, Salah Nouri, revealed the steps taken by Iraq to move to fully implement international accounting standards by 2026.

Nouri said in a statement to {Euphrates News} that: "The unified accounting system, which was adopted in the mid-eighties, was appropriate for the economic situation at the time; but it led to Iraq's delay in keeping pace with international standards."

He added, "The Accounting and Auditing Standards Board adopted 14 accounting rules according to international standards until 2016; but that was not enough to keep pace with global developments. In 2017, the board made a bold decision to adopt all international accounting standards, with the aim of enhancing financial transparency and attracting foreign investments, especially in the oil and banking sectors."

Nouri pointed out that "the committee tasked with preparing the new unified accounting system completed its work in 2019, and the implementation of international standards was announced in 2021, but the Corona pandemic postponed this implementation."
He stressed that "the year 2026 will witness the final implementation of these standards, which will make the Iraqi accounting environment consistent with the requirements of global financial markets."
“This step will encourage foreign companies to invest in Iraq and will provide transparent financial data that will help in making sound investment decisions,” Nouri concluded.

International accounting standards are a common language for companies around the world, making it easier for investors to understand companies’ financial statements and make informed investment decisions.
This step comes as part of Iraq’s efforts to enhance financial transparency and attract foreign investment, especially in light of the economic challenges facing the country.  LINK


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

MilitiaMan & Crew-Iraq Dinar News-No More Dollars-National Cards Suspended-Protection by Central Bank- A Priority

MilitiaMan & Crew-Iraq Dinar News-No More Dollars-National Cards Suspended-Protection by Central Bank- A Priority

2-12-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=T3JnFHbiOCk

Iraq Economic News and Points to Ponder Thursday AM 2-13-25

Prime Minister Adviser: The Government Has Taken Steps To Re-Promote The Manufacturing Industry
 
Economics |  09/02/2025  Mawazine News – Economy  The Financial Adviser to the Prime Minister, Mazhar Mohamed Saleh, confirmed that the  government has taken steps to re-promote the manufacturing. Saleh told the official agency:
 
"The advancement of the manufacturing industry of Iraq is a strategic issue of multiple dimensions, the  
first of which is: the industrial operator, whether small, medium or large, is one of the most important activities responsible for using 60% of the workforce." 

He pointed out that
 
     "eliminating sustainable unemployment requires economic diversification and the
     basics of diversification begins from the manufacturer construction of Iraq, and the
 
second: the partnership with the private sector comes to be an ideal solution to advance the industrial sector itself, whether this partnership is to provide financing and government support, partnership in ownership or capital And
 
this requires a balance between the public interest and the private interests, while ensuring the existence of a highly -governing transparent organizational environment that encourages effective cooperation in an integrated social market between the two parties, "noting that
 
"the partnership in management and ownership between the government and private sectors leads to
 
     stimulating innovation,
     technological development and
     encouraging research And development, as well as
     investment in advanced manufacturing technology such as
     automation,
     artificial intelligence and
     3D printing.  He stressed that
 
"the financing partnership represents the provision of financial support for small and medium enterprises that work in the field of manufacturing to find an optimal operating lever," explaining that
 
"the national development plan indicates efforts to rebuild the conversion industry pillars through real partnerships with the private sector, as
 
the state contributes to ensuring sovereign financing Manufacturing industries by 85%, while the
 
private industrial project bears 15% of the financing. 

 He continued that  "this financing strategy is devoted to financing industrial projects at five levels, foremost of which is the projects whose products are related to
 
     reconstruction and housing or pouring into the work of the path of development, then the
     pharmaceutical industries and the
     petrochemical industry and
     others," noting that
 
"the government's economic philosophy and according to the government curriculum is carried out On the partnership between the state and the market with the wide social security, and this is what makes it work according to the social market theory, which is a separation from economic liberalism and its risks.

And that
 
"a leadership bank has been established with the support of the state to provide small and medium loans to young people, and
 
this was preceded by a leadership initiative for the prime minister, which paved the way for this by providing thousands of loans to the youth sectors and moving their innovations," explaining that
 
"this will lead to encouraging the regulatory and investment environment of the country and adopting policies that encourage encouragement On competition, improve the business environment and reduce bureaucratic regulations that may hinder the process of manufacturing and accelerate it.     https://www.mawazin.net/Details.aspx?jimare=259469  

Minister Of Transport: Iraq Is A Distinguished International Corridor For The Countries Of The Region
 
Local     Yesterday, 17:40  Baghdad – WAA  Minister of Transport Razzaq Muhaibis Al-Saadawi confirmed, today, Wednesday, that Iraq is a distinguished international corridor for the countries of the region.
 
A statement by the ministry received by the Iraqi News Agency (INA) stated:
 
"Minister of Transport Razzaq Muhaibis Al-Saadawi met with the Secretary-General of the International Road Transport Union, Umberto de Pretto, to discuss the TIR project, and ways to facilitate the inter-trade process, which is one of the most important drivers of the global economy."
The statement added,
 
"At the beginning of the meeting, which was attended by the head of the Parliamentary Transport and Communications Committee, Zahra Al-Bajari, and the Director General of Passengers and Delegations, Karim Kazem Hussein, the Minister expressed his thanks to the delegation of the International Road Transport Union, which included the Secretary-General of the Union, Umberto de Brito, the Director of Strategic Development, Vincent Erard, the Director of International Road Transport Services (TIR), Tatiana Re-Bellet, and the Union's Middle East Affairs Advisor, Rami Qarout, for their support for Iraq's accession procedures to the TIR Convention, while he extended an invitation to the delegation to visit Baghdad and discuss joint cooperation."

Al-Saadawi stressed - according to the statement – that   "the Iraqi government, specifically the Ministry of Transport, is keen on the TIR project, as
 
it is an important project at the level of international trade movement, and
 
it is also reflected in the economies of the member states," noting that
 
"Iraq enjoys a strategic location linking the East and the West, and
 
therefore it is a distinctive international corridor for the countries of the region." He stressed
 
Iraq's keenness to "implement the requirements of the agreement, in conjunction with the ongoing work on the development road project, which
 
we seek to be one of the best global corridors for transporting goods, as
 
it will be the least expensive and safest."
 
In turn, Secretary-General Umberto de Pretto expressed his "thanks for the efforts of the Iraqi government to complete Iraq's accession to the International Land Union," considering that
 
"approval for the passage of vehicles through Iraq is very important." He stressed that
 
"expediting this process makes things better, adding that this project opens up broad horizons for Iraq," noting that
 
"TIR facilitates the trade process by 50%, and ensures the passage of vehicles with ease, and
 
the benefits resulting from it are greater, in light of the existence of enormous capabilities that enhance this."
 
At the end of the meeting, the President of the International Union expressed his "admiration for the topics raised on the discussion table, especially the issue of the international visa, and the possibility of benefiting from Iraqi expertise in the success and organization of the TIR work system."
 
It is noteworthy that the Minister of Transport, Razzaq Muhaibis Al-Saadawi, participated yesterday, Tuesday, in the work of the 87th session of the Inland Transport Committee (ITC) held in Geneva; where he delivered Iraq’s speech, in which
 
he reviewed the government’s projects regarding ways to enhance sustainable connectivity for regional inland transport, and enhance climate action for inland transport, which includes establishing concepts of climate justice, to reduce carbon emissions.   https://www.ina.iq/227874--.html  

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-13-25

Good Morning Dinar Recaps,

FED GOVERNOR: BANKS AND NON-BANKS SHOULD BE ABLE TO ISSUE STABLECOINS

Fed Governor Christopher Waller believes there should be a framework that allows banks and non-banks to issue regulated stablecoins.

According to a recent Bloomberg report, Waller stated that stablecoins have the potential to expand the reach of the U.S. dollar on an international scale. However, the scale and utility of stablecoins will depend on a clear set of regulations.

In a conference in San Francisco, Waller said the stablecoin market requires a regulatory framework that encompasses stablecoin risks “directly, fully, and narrowly” before financial institutions will be able to issue them.

“This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape,” said Waller.

Stablecoins are digital currencies known for their steady value because they are typically pegged to fiat currencies, most commonly the U.S. dollar or Treasury bills. Two of the largest stablecoins by market cap, USDT and USDC, are both pegged to the U.S. dollar.

Waller’s remarks echo those of Federal Reserve Chairman Jerome Powell in February last year. Powell expressed wholehearted support for the creation of a stablecoin framework in a meeting with the House Financial Services Committee, reiterating the Fed’s commitment to developing stablecoins and Central Bank Digital Currencies in the U.S. (However, Powell agreed there would not be a CBDC in the US during  a Congressional hearing this week)

More recently, Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, introduced a proposal for stabelcoin oversight involving the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve.

Earlier this month, Republican Chair of the House Financial Services Committee, French Hill, had submitted a draft bill for stablecoin regulation, co-sponsored by Rep. Bryan Steil. In contrast to Water’s proposal, Hill’s bill grants stablecoin oversight to the OCC instead of the Federal Reserve.

This means that both Republican and Democratic lawmakers have introduced stablecoin regulations under the Trump administration.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

TEXAS LAWMAKERS REFILE BITCOIN RESERVE BILL, ADDING ROOM FOR MORE CRYPTO

The bill “would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Senator Schwertner.

Texas lawmakers have refiled a strategic Bitcoin reserve bill under a slightly different name, opening the door to investments in other qualifying cryptocurrencies.

“SB 21 would make our state the first to establish a Strategic Bitcoin Reserve and drive innovation, growth, and financial freedom,” said Texas state Senator Charles Schwertner on Feb. 12.

He also thanked Lieutenant Governor Dan Patrick for designating his bill to establish the Texas Strategic Bitcoin Reserve “as one of the Senate’s top 40 priority bills.”

“I’ve been told by the Lt. Governor’s office multiple times that this bill is a major priority,” said Satoshi Action Fund founder Dennis Porter in a post on X.

SB 21 differs slightly from SB 778, a similar strategic Bitcoin reserve bill that the Republican politician announced in mid-January.

The earlier legislation only permits the state to buy and hold BTC as a strategic asset and prevents its use for other state operations unless explicitly authorized.

Schwertner refiled the legislation “for the purpose of investing in cryptocurrency and the investment authority of the comptroller of public accounts over the reserve and certain other state funds” on Feb. 12.

The bill establishes the reserve as an investment vehicle, allowing the state to actively buy, sell, and manage crypto assets for financial security and economic resilience.

It also permits investments in other digital assets but stipulates that they must have had a market capitalization of at least $500 billion for the past twelve months. Currently, only Bitcoin falls into this category.

SB 21 also gives more control to financial experts, while SB 778 places control in the hands of state legislators and has stricter security, oversight, and funding rules.

Riot Platforms vice president of research, Pierre Rochard, commented that the new legislative text for the Texas SBR “is very bullish,” before adding “It removes the annual buying limit of $500 million, the legislature can appropriate as much as it wants to save BTC.”

There are currently 19 US states with a bill proposed, while Arizona and Utah have advanced legislation beyond the House committee level.

The most recent state to propose a crypto bill was North Carolina, which filed for legislation this week to allow the state to invest in Bitcoin exchange-traded products. North Dakota, meanwhile, has rejected legislation regarding crypto investments.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 2-13-2025

TNT:

Tishwash: Investments 2025: Economic renaissance under the umbrella of the general budget

Mazhar Muhammad Salih, financial and economic advisor to Prime Minister Muhammad Shia al-Sudani, confirmed today, Thursday, that investment projects for the year 2025 are an integral part of the investment section in the Federal General Budget Law.

He added in his statement to {Euphrates News} that "the three-year general budget was enacted to give the development policy sufficient flexibility in implementing investment projects without interruption, according to a flexible and rational vision that takes into account the indicators of the National Development Plan 2024-2028, and according to the available financing capabilities drawn up in the plan and the general budget together."  link

Tishwash:  Launching the implementation of the {Fursan} residential city.. and Al-Sudani: Iraq is facing a new industrial renaissance

Prime Minister Mohammed Shia Al-Sudani launched, today, Wednesday, the executive works for the development project of the Al-Fursan residential city in the Al-Nahrawan area in Baghdad, on an area of ​​approximately (24,197) dunums, which includes the allocation of serviced residential lands distributed to members of the Ministry of Defense.

Al-Sudani handed over land ownership deeds to a number of families of martyrs from the armed forces.

Al-Sudani appreciated the efforts of the Ministry of Defense and other ministries supporting the launch of this project, stressing the work to provide serviced residential plots in the rest of the governorates, and directing the generalization of this experience to members of the rest of the other security agencies, indicating that the Knights City project will be implemented by the real estate developer and planned and implemented by the Ministry of Defense, with the support of the Ministry of Construction, Housing, Municipalities and Public Works, with the developer company obligated to implement with full specifications, and construct part of the basic services such as schools, health centers and service departments. 

He explained that the project is one of the government's paths to address the housing crisis, and a model in the governorates to include all members, officers and leaders of the Ministry of Defense, stressing that the government left the issue of distributing residential lands without infrastructure services, or designs that are appropriate for modern cities and various requirements.

Al-Sudani referred to the residential cities that will be implemented for the members of the armed forces, including the Al-Ghazlani City project in Mosul, and another city in Basra, in addition to laying the foundation stone for the 6th of November City in Taji, to cover the needs of housing units for citizens and members of the security services.

The following are the most important points made by the Prime Minister:

- The Ministry of Defense personnel defended the greater homeland, and we must provide them with a small homeland represented by a residential plot of land and decent services. 

We have a new city, “City of Roses,” at the level of a new governorate. It was referred to the investor, and we completed the contracts and its design, and implementation began.

- More than 110,000 housing units will be completed in “City of Roses”, which is 3 km away from the “City of Knights” residential project.

There is a 17 km road under construction, linking central Baghdad to the new residential cities and reaching the city of roses.

- Within the Baghdad Metro plan, new residential cities have been linked, and we are in the process of negotiating with international companies to implement this vital project.

The government has taken into consideration the advance planning for the next 30 years regarding the provision of services, means of transportation and a road network.

I renew the call to the private sector and businessmen to proceed with the implementation of housing projects and real estate development in Baghdad and the governorates, and the government will provide all facilities.

We call on the private sector to establish construction materials factories in light of the great urban renaissance in the country, as what is available does not cover the actual need.

The number of housing units in projects signed by the government has exceeded one million units.

The sovereign guarantees provided to the private sector confirm that Iraq is facing a new industrial renaissance for the emergence of national factories that cover the needs of the market.

The government is obligated to provide basic services such as sewage networks, drinking water, electricity, communications, and roads. link

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

Russia: We were about to complete important energy projects in Iraq, but the events of 2004 led to their suspension

Elbrus Kotrashev, the Russian Federation's ambassador to Iraq, confirmed that the decision to evacuate hundreds of Russian experts from Iraq in 2004 came after Russian teams working in the country were directly exposed to terrorist attacks.

During his interview on the "Qasary Al-Qawl" program with Salam Musafir on RT Arabic, on the occasion of "Diplomats' Day," he explained that "these attacks resulted in the martyrdom and injury of a number of experts, including Iraqis, which prompted the Russian authorities to take the decision to evacuate to protect the lives of its citizens."

"Russian companies were about to complete important projects in Iraq that began before 2003, especially in the energy sector, but the painful security events that occurred in 2004 led to the suspension of these projects and the evacuation of more than 900 Russian experts," Kotrashev added.

He continued: "After that, there was a long interruption in cooperation due to the turbulent security situation, but we want to continue the work and complete it successfully, especially since we are witnessing the suffering of the Iraqi people due to the scarcity of electricity."

Despite these challenges, the Russian ambassador stressed that relations between Baghdad and Moscow, which date back 80 years, are still strong and distinctive at all levels, describing them as going through their most beautiful stages in terms of the level and strength of cooperation. He pointed out that cooperation between the two countries covers multiple fields, including energy, education and culture.

Regarding cultural exchange, Kotrashev expressed Moscow's desire to open a Russian cultural center in Iraq, as it was during the Soviet era, explaining that the delay in this step is due to logistical reasons, not political or economic. He also spoke about educational cooperation between the two countries, noting that the number of Iraqi students in Russian universities ranges between 2,500 and 4,000 students.

Regarding cooperation in the energy sector, the ambassador pointed out that Russian investments in the Iraqi oil and gas sector amount to about $20 billion, and may be more. He stressed that Russia leads oil investments in Iraq, surpassing the United States and China, expressing his optimism about the possibility of expanding these investments in the future.

Regarding the possibility of a visit by a senior Russian official or President Putin to Iraq, Kotrashev said: “I hope the visit will be great, and I expect a warm welcome from the Iraqi government and people, but I do not know if it will happen soon because the president is busy with domestic and international issues.” link

Mot: . and then theres This!!!! – LOL 

Mot: Ya Need a Heart!!!! 

Iraq Economic News and Points to Ponder Wednesday Afternoon 2-12-25

America Stops The Monetary Dollar On Iraq: Does The Dollar Rise Against The Dinar?
 
February 12, 2025 Last update: February 12, 2025  Independent/- In a surprising step, reports indicate that the  United States of America decided to stop sending the cash dollar to Iraq, a decision that may have profound implications for the Iraqi economy and its financial market.
 
This shift raises many questions about its impact on the value of the Iraqi dinar, currency markets, and the local banking sector.

What is the cash dollar?  The cash dollar indicates the money that is financially sent to Iraq by the United States, usually through banks or through other economic mechanisms.
 
This cash flow was playing an important role in supporting the Iraqi economy, especially in light of the economic challenges facing the country.
 
The reason for the American decision
 
The sources indicate that the American decision comes in the context of economic and diplomatic pressures on Iraq, which includes issues related to the national economy and monetary policies.
 
Some reports also indicate that the United States may seek to reduce the use of the dollar in Iraqi financial transactions, in an attempt to enhance the stability of the local currency and reduce dependence on foreign currencies.
 
The impact of the decision on the Iraqi dinar
 
This decision is expected to lead to noticeable fluctuations in the local currency market.
 
The US dollar is considered one of the basic currencies that are traded in Iraq, and
 
its cash flow stopped may lead to a lack of supply, which may push the dollar to rise against the dinar.
 
The impact of the rise on the Iraqi market
 
Increasing the value of the dollar may lead to high prices in the Iraqi market, which exacerbates the burden of inflation and affects the ability of citizens to buy basic commodities.
 
This may also indirectly affect economic activity, especially in sectors that depend heavily on import.
 
Are there solutions?
 
The Iraqi government will have a major challenge in dealing with these developments.
 
The next stage may require the development of new economic and financial strategies to alleviate the impact of sudden changes in currency rates.

It is necessary that there be a trend towards strengthening the Iraqi dinar and diversifying the sources of the national economy away from the great dependence on the dollar.
 
Conclusion
 
With these developments, it will be important to follow the effects of this decision in the short and long term.  Iraq needs decisive steps to secure the stability of its national currency and protect its economy from the repercussions of the decision to stop the monetary dollar.  https://mustaqila.com/أمريكا-توقف-الدولار-النقدي-على-العراق/  

Protecting The Financial System Is A Priority For The Central Bank

Samir Al-Nusairi   Some media outlets, social media networks and non-specialist analysts have begun to return to their analyses and statements to frighten citizens about US decisions to tighten economic sanctions on Iran.

We must make it clear here that Iraq's top priority is to protect its national economy, financial system and monetary system from international or American economic sanctions imposed on some countries. And its priority, according to its financial and monetary policies, is to avoid being a party to that.

This is well known to the US Treasury, international organizations, and international auditing and regulatory bodies, that "the Iraqi economy faced many crises and challenges, extending to the years before 2023, but the government, the Central Bank of Iraq, and the banking sector faced them wisely, harmoniously, and with high coordination, in order to know and determine the causes of these crises, and what are the solutions and treatments for the purpose of overcoming them quickly,"

as the Central Bank began at the beginning of 2023, using many procedures, such as using the electronic platform application, for foreign transfers in compliance with international standards and controls, which were represented by organizing the financing of foreign trade in directions that make the Iraqi banking sector regulated by international banking standards.

And that "these measures were fruitful during 2023 and 2024, and his policy of opening accounts in solid foreign correspondent banks for banks that lacked these banks succeeded.

The Financial Action Task Force (FATF), the US Treasury, the International Monetary Fund and the World Bank have commended the Central Bank’s measures in overcoming most of the comments, confirming the transparency of foreign transfers, and moving to cancel the platform and direct dealings between our banks and correspondent banks under the direct supervision of the supervisory bodies for foreign transfers and ensuring their arrival to the final beneficiary.

At a rate exceeding 97%, in addition to the government and the Central Bank contracting with international auditing and consulting companies with the aim of developing banks and ensuring their compliance with international standards.

These companies are Ernst & Young, K2, Oliver and Eman, and they are currently operating according to the roadmap and plans drawn up for that.

The Iraqi government, in cooperation with the Central Bank, has taken several steps in this direction, the most important of which is automating the tax system and the customs system. In view of this strict commitment to protecting our financial system, we reassure everyone that there is no possibility of imposing new sanctions on the banking sector. These are just rumors and have absolutely no basis in truth.    https://economy-news.net/content.php?id=52720

Iraqi Oil Continues To Stabilize Above $78 In The Global Market

Wednesday 12 February 2025 09:17 | Economic Number of readings: 202

Baghdad / NINA / Iraqi oil prices continued to stabilize in global market transactions above $ 78 per barrel.  Basra Heavy crude recorded $ 75.24 per barrel, while the average recorded $ 78.75 per barrel.

Brent crude futures fell 36 cents, or 0.47 percent, to $ 76.64 per barrel, while US West Texas Intermediate crude futures fell 37 cents, or 0.5 percent, to $ 72.95 per barrel. / https://ninanews.com/Website/News/Details?key=118518

Iraq Exports More Than 8 Million Barrels Of Oil To America In A Month

Energy Economy News – Baghdad  The US Energy Information Administration announced today, Wednesday, that Iraq exported more than 8 million barrels of crude oil and its derivatives to the United States during the month of November 2024.

A schedule of the administration, which was reviewed by "Al-Eqtisad News", showed that "Iraq exported about 8 million and 510 thousand barrels of oil and its products during the month of November", indicating that this quantity "is greater than the month of October, which amounted to 6 million and 800 thousand barrels".

The US Energy Information Administration stated that "the total crude oil exported from Iraq to America in November amounted to 6.718 million barrels, while the remaining 1.792 million barrels were petroleum derivatives, including 1.788 million barrels of non-condensate oils and four thousand barrels of remaining fuel oil."

Iraqi oil exports to the United States have increased significantly over recent years, with export figures reaching record levels in some months, due in part to Iraq's ability to increase its oil production, as well as rising global demand for oil.

Oil trade relations between Iraq and the United States play an important role in strengthening economic relations between the two countries, and contribute to enhancing the stability of the global oil market and providing energy to the American and global economies.  https://economy-news.net/content.php?id=52719

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