Iraq Economic News and Points to Ponder Thursday AM 3-27-25

Financial expert: Iraq's budget deficit is due to bond issuance
 
Economy     Iraq     breaking     Budget     disability     Financial bonds
2025-03-24 23:01  Shafaq News/ Financial expert and former director general of the Central Bank of Iraq, Mahmoud Dagher, attributed the country's budget deficit on Tuesday to the Iraqi Ministry of Finance issuing large bonds. Dagher told Shafaq News Agency,
 
"The budget deficit is behind the Ministry of Finance's efforts to issue bonds worth 3 trillion dinars to obtain cash liquidity to cover its expenses."

He added, "Given the difficulty of marketing bonds to the public, interest rates on bonds were raised and  they were marketed through banks this time,
 
given the latter's liquidity and preference for risk-free, profitable securities such as government bonds."
 
Dagher expects this move to attract banks, given that the interest rates offered are close to the returns generated from other activities.
 
The Iraqi Ministry of Finance is seeking to issue national bonds worth 3 trillion dinars (about $2.3 billion) allocated exclusively to local banks, 

according to a letter issued by the Central Bank to banks. She noted that
 
the bonds will be divided into two tranches: the
 
first,
     worth half a million dinars per bond,
     for a two-year term, with an
     8% annual interest rate, and the
 
second,
     worth one million dinars per bond,
     for a four-year term, with an
     annual interest rate of 10%.
 
The sale is scheduled to take place from March 20 to 29.    
  
https://www.shafaq.com/ar/اقتصـاد/خبير-مالي-العجز-بموازنة-العراق-بسبب-صدار-السندات    

Insurance and Credits
 
Economic 03/26/2025  Yasser Al-Mutawali  Article 45 of the current budget law stipulates that open documentary credits must be insured within Iraq. This procedure means that
 
when the state or individuals import from abroad,
the imports must be insured by companies in the country within Iraq.

This decision reflects the government's interest in activating and stimulating the insurance sector, given its
 
     significant role in maximizing financial resources, on the one hand, and
     in bearing risks in a balanced manner across economic sectors as a whole, by distributing them fairly.
 
Continuing our previous article titled "Insurance and Risk,"
 
it can be said that the Central Bank of Iraq has
 
     circulated this order to banks and
     called on them to implement it,
     indicating its support for this important decision.
 
However, it is noticeable that the
response from banks has been very weak, so
 
coordination between insurance companies and banks is required to ensure the full success of this decision.
 
The current government, in its efforts to support the insurance sector, is attempting to revitalize this vital and important financial sector.
 
These measures may be a response to what we raised here in Al Sabah newspaper, given the difficulties this essential sector is facing.It is clear here that
 
there is unfortunately a lack of insurance culture,
for which the insurance companies themselves and the economic media bear responsibility.
 
It is worth emphasizing here that , in

 this measure
     will contribute to maximizing the budget's financial resources addition to

     preserving the hard currency that goes to international insurance companies in the insurance process.
 
The benefit of the domestic insurance decision will therefore be to stimulate important economic sectors, such as insurance companies and banks, while providing many job opportunities in this field,
 
thus alleviating the widespread unemployment among young people.

Here, I believe that a partnership should be created between reputable Iraqi insurance companies and international companies, with the aim of benefiting from each other's expertise, 

similar to the partnership between our banks and correspondent banks, to ensure profitability from the outset.
 
We ask: What role does the Iraqi insurance company play in these changes?
 
It used to play a major role in insuring imports and exports and investing funds domestically and internationally.
 
In a related context, the government's support for this sector was not limited to requiring documentary credit insurance, but
 
this interest was also reflected in the new health insurance law, which encouraged insurance companies to issue insurance policies for expatriate and resident workers.
 
Thus, insurance companies will flourish again, but insurance companies are required to work on developing their workforce, given the expertise required by these insurance products, especially in the era of digital transformation.
 
This is a shared responsibility in cooperation and coordination between the Insurance Bureau and government insurance companies.  Both private and public.  
  
https://alsabaah.iq/112251-.html    

Iraqi oil refinery  energy  Economy News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq's oil exports to the United States have increased by more than 110% over two years.

"Economic cooperation between Iraq and the United States extends to diverse investment, trade, and economic areas. Economic cooperation between Iraq and the United States has witnessed remarkable developments in recent years," Salih said in a statement reported by the official news agency and seen by Al-Eqtisad News.

He pointed out that "the volume of trade between the two countries has more than doubled over the past two years, as Iraq's oil exports to the United States increased by more than 110%, and Iraq's imports from the United States increased significantly over the past two years, with the value of that trade ranging between $9 and $10 billion."

He explained that "Iraq's imports were primarily in cars, transportation equipment, engineering, and electrical equipment, but the trade balance remained in Iraq's favor, with a difference of $5.7 billion, reflecting the continued superiority of Iraqi exports to the United States, especially in the crude oil sector."

He noted that "economic cooperation between Iraq and the United States is developing, with a focus on enhancing trade exchange and supporting joint investment activities, serving the economic interests of both countries."

Saleh stated that "financial and economic cooperation is part of a positive, shared dialogue between the two countries. Since the beginning of this year, many mutual understandings have been reached in the field of economic cooperation, which are consistent with supporting stability and economic reforms outlined in the government's program, particularly the development of an attractive investment cooperation environment for investors between the two friendly countries, within the framework of the country's general economic policy to achieve sustainable development goals."

https://economy-news.net/content.php?id=53840

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 3-27-25

Good Morning Dinar Recaps,

PAUL ATKINS SEC CONFIRMATION HEARING BEGINS: IS THIS GOOD NEWS FOR CRYPTO?

▪️Former SEC Commissioner Paul Atkins, a Trump nominee, is expected to bring a more crypto-friendly regulatory approach.

▪️Atkins' confirmation faces scrutiny due to his past advisory roles, financial ties to crypto, and potential conflicts of interest.

▪️The crypto industry anticipates Atkins' potential leadership as a shift towards clearer regulations.

The crypto market finally has a leader at the SEC who supports digital assets. After years of strict regulations, uncertainty, and legal battles, there’s a chance for real change. Paul Atkins, a former SEC commissioner and Trump’s pick for SEC Chair, is expected to take a more crypto-friendly approach – if confirmed. Unlike his predecessor Gary Gensler, who cracked down hard on the industry, Atkins wants to introduce clear and predictable rules. He believes confusing regulations have slowed innovation and pushed businesses overseas.

His confirmation hearing today could set the stage for crypto’s next big chapter.

Senate Hearing Begins Today

Atkins will face the Senate Banking Committee today for his confirmation hearing, where he plans to push for a balanced regulatory framework. He has criticized the SEC’s past policies, arguing that complicated and politically driven rules have hurt businesses and investors. His goal is to create common-sense regulations that encourage growth while ensuring proper oversight.

Industry Support vs. Political Opposition

The crypto industry is optimistic about Atkins’ nomination, seeing it as a chance to move away from the SEC’s aggressive enforcement, which has driven innovation overseas.

But not everyone is on board. Senator Elizabeth Warren and other critics have raised concerns about his regulatory past. Warren has questioned his advisory role with FTX, his ties to major financial firms, and his decisions during the 2008 financial crisis. She recently sent him a 34-page letter demanding answers before his hearing.

Questions over Atkins’ crypto investments

Atkins’ financial records show he holds up to $5 million in a crypto investment fund and $1 million in equity across two crypto firms. His and his wife’s total assets exceed $328 million, mostly from his wife’s family wealth. These investments have raised concerns over potential conflicts of interest, which he is expected to address during the confirmation process.

What Happens Next?

Until Atkins is officially confirmed, Mark Uyeda will serve as interim SEC Chair following Gary Gensler’s resignation. The Senate will decide when to hold the final vote on Atkins. If he is approved, it could mean major changes in how the SEC regulates crypto.

While the crypto market welcomes a shift in policy, some worry that too much freedom could lead to illegal activities and fraud. Trump’s open support for meme coins like TRUMP, which remain unregulated, has added to concerns.

Over the last few months, some of Trump’s policies have backfired, and the crypto market is still recovering, far from its peak of $109K. Whether Atkins’ leadership will bring stability or new challenges remains to be seen.

Atkins might be the SEC’s new face, but in crypto, the real question is always the same – will the rules change the game or just the players?

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

US SENATE CLEARS RESOLUTION TO KILL IRS’S CONTROVERSIAL DEFI BROKER RULE

A rule to scrap a U.S. Internal Revenue Service rule targeting decentralized finance platforms has cleared the Senate, setting the stage for the president’s expected sign-off.

On March 26, the Senate voted 70-28 in favour of repealing the controversial DeFi broker rule, which sought to expand tax reporting requirements for businesses in the sector.

Earlier this month, the House of Representatives passed the resolution with bipartisan support, with Republican Representative Mike Carey, a vocal critic of the bill, calling it a “massive government overreach” that would compromise the privacy of American nationals and hinder growth in the industry.

Now, the resolution heads to President Donald Trump’s desk for final approval. David Sacks, the White House’s crypto and AI adviser, has previously confirmed the administration’s support, and Trump is expected to sign it into law.

The rules, initially proposed by the IRS and the United States Treasury Department in August and finalised in December 2024, would require DeFi platforms to report user transactions—specifically, gross proceeds from crypto sales—to the IRS, similar to traditional brokers.

This would include collecting and filing personal data of users involved in these transactions, which critics say goes against the nature of decentralisation and puts unnecessary pressure on platforms that often don’t have central operators.

Supporters of the repeal argued that the rule was unworkable in practice and could drive innovation out of the U.S.

The Blockchain Association, a digital asset advocacy group, along with the Texas Blockchain Council, sued the IRS last year.

Marisa Coppel, the association’s Head of Legal, criticized regulators in a joint statement last year, claiming that the IRS and Treasury had “gone beyond their statutory authority in expanding the definition of ‘broker.”

“Not only is this an infringement on the privacy rights of individuals using decentralized technology, it would push this entire, burgeoning technology offshore,” he added.

@ Newshounds News™
Source:  CryptoNews

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 3-27-2025

TNT:

Tishwash:  Sending budget tables to the Cabinet

 The government issued new assurances on Wednesday regarding the country's financial situation. Deputy Prime Minister and Minister of Planning, Mohammed Tamim, announced the completion of the 2025 budget schedules and their submission to the Council of Ministers. Meanwhile, the Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed that Iraq's public finances are resilient to oil price fluctuations. 

The Ministry of Finance, for its part, ensured financial stability by disbursing salaries on time, as well as disbursing pensioners' salaries before Eid al-Fitr. In a meeting with the Parliamentary Finance Committee, the Minister of Planning confirmed that the schedules include funding for ongoing projects without adding new ones.

According to information published by "Al-Sabah", the (2025) budget is expected to reach about (200) trillion dinars with an estimated deficit of (64) trillion dinars. For his part, the financial advisor, Mazhar Muhammad Salih, explained that Iraq is hedging against oil price fluctuations, and that the first quarter of (2025) passed without financial turmoil, while ensuring the stability of salaries and social care, in addition to implementing service projects.

Saleh pointed out that "the price of a barrel of oil in the Federal Budget Law for the three years, issued pursuant to Law No. (13) of (2023), was set at about (70) dollars, which ensures the stability of public revenues despite global economic challenges."  link

Tishwash:  Employees withdraw 8 trillion dinars from banks in two hours.. The Ministry of Finance seeks a solution.

Crisis of confidence despite the electronic system

Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, called for stopping the provision of subsidized dollars at an exchange rate of 1,320 dinars for non-essential luxury imports, and instead providing them for the import of necessities such as production lines and agricultural equipment, to reduce the volume of imports later.

 He pointed out that many private banks were not established according to the needs of economic sectors and that they profit from transfer operations despite being inactive due to their inability to deal with foreign correspondent banks. He also confirmed that the government deposits about 8 trillion dinars monthly as salaries for employees and retirees, but they are withdrawn within only two hours, calling for the matter to be addressed.

oeen Al-Kadhimi, in an interview with journalist Saadoun Mohsen Damd, followed by 964 Network :

The banking system is linked to the Central Bank, the body responsible for regulating banking operations. Numerous workshops have been held recently to develop the banking system. However, there are external factors that influence banks attempting to link up with foreign banks, which also impact the development process.

From our perspective as a parliamentary committee, we believe the Iraqi banking system is still in its early stages of adapting to global regulations. The Central Bank and the Ministry of Finance are required to support the work of banks so they can fulfill their role beyond limited tasks, such as supporting the agricultural and industrial sectors, and other diverse economic sectors.

Some banks are trying to profit solely from dollar transfers, without contributing to other developmental aspects. One of our most important observations is the increasing number of banks being established without feasibility studies.

This is despite the fact that they are practically at a standstill because most of them have been unable to link up with international banks to conduct financial transfers, thus preventing them from accessing the currency window.

The Central Bank sometimes justifies some of the violations of its instructions by private banks. It must then address the missing relationship between the public and the banks. Some citizens lost their money after certain banks declared bankruptcy, and the Central Bank must also address this issue.

Improving banking performance is key, and we have approached the Central Bank about addressing the issue of depositing funds and the difficulty depositors face in withdrawing them later, while improving interest rates to ensure depositors feel valued. Most importantly, we are increasing automation, moving away from cash transactions.

The internet is no obstacle to the electronic transformation of financial transactions. Banks must improve their digital applications and technologies to benefit from the country's internet services and quality. Employee and retiree salaries, which amount to approximately 8 trillion dinars, are now paid electronically, but they are withdrawn within two hours, immediately emptying all banks. This must be addressed.

The Ministry of Finance's monthly priority is to convert its dollar balances into dinars to boost remittances and foreign imports, which are often for luxury goods, as traders benefit from the exchange rate difference. This must stop, and subsidized dollars must be allocated to essential needs, such as importing production lines, to reduce imports later.  link

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

Tishwash: Iraq Implements Global Transit System TIR from April

Iraq will implement the global transit system TIR from 1 April 2025, marking a significant step in enhancing logistics and international trade.

According to state-run Iraqi News Agency (INA), the Border Ports Commission announced that the system will streamline cross-border transport, strengthening Iraq's position as a key trade hub in the Middle East.

The TIR system is expected to play a crucial role in the Development Road project, linking southern and northern Iraq while providing an efficient trade corridor connecting Asia, the Gulf Cooperation Council (GCC), Turkey, and Europe.

Logistics firms are prepared to launch TIR operations from locations such as Mersin, Turkey, to Gulf countries via Umm Qasr Port. Initial trials indicate that the journey could be completed in under a week-compared to 14 days via the Red Sea or 26 days if ships reroute around Africa.

Transport Minister Razzaq Muhibis Al-Saadawi highlighted that TIR implementation, supported by Prime Minister Mohammed Shia Al-Sudani and facilitated by the International Road Transport Union (IRU), will reduce transport times by 80% and costs by 38%, offering substantial economic benefits and job creation. Over the past two years, Iraq has developed its transport infrastructure to maximise TIR's impact on trade and the national economy.

IRU Secretary-General Umberto de Pretto welcomed the initiative, stating that TIR has facilitated secure trade for nearly eight decades. He anticipates that Iraq's integration into the system will enhance regional economic connectivity and streamline freight movement. The system's electronic pre-declaration (TIR-EPD) will integrate with Iraq's Uruk platform, enabling cargo monitoring via GPS and enhancing security through regular checkpoints.

TIR, governed by a United Nations convention and managed by IRU, is designed to ensure smooth, cost-effective, and secure international trade.

In 2023, Iraq became the 78th country to accede to the United Nations TIR Convention. link

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Mot: If!! -- You Have the Power to ~~

Worst Crash Since Great Depression will Force Monetary Reset

Worst Crash Since Great Depression will Force Monetary Reset

Commodity Culture:  3-27-2025

In a recent episode of “Commodity Culture” with Jesse Day, market strategist Henrik Zeberg painted a stark, almost paradoxical, picture of the future. While many are bracing for an imminent market downturn, Zeberg believes the bears are premature.

 He predicts a significant market rally, culminating in a dramatic blow-off top, before a recession and market crash eviscerates asset values and ultimately necessitates a monetary reset based on sound money, specifically gold.

Zeberg’s forecast hinges on the idea that the current market landscape, despite its apparent fragility, still holds the potential for a final, exuberantly irrational surge.

He argued that underlying market forces are not yet aligned for a sustained bear market. Instead, he envisions a dramatic final rally, driven by factors like lingering liquidity and the herd mentality of investors eager to chase returns. This “blow-off top,” as he describes it, will be the final act of this current market cycle, and its peak will be the precipice of significant economic pain.

Following this artificial high, Zeberg foresees a harsh and unavoidable correction. This won’t be a simple dip; he predicts a profound recession, potentially even a depression, where virtually all asset classes will suffer significant losses. He anticipates a crash that will wipe out substantial wealth and shake the foundations of the global economy.

The silver lining, according to Zeberg, lies in the ashes of this economic devastation. He believes that only when faced with the utter failure of current monetary policies will global powers be forced to consider a radical shift.

In this scenario, he sees a return to sound money principles, most likely anchored by gold. This wouldn’t be a matter of choice, but rather a necessary consequence of the collapse of the existing system.

Zeberg’s vision is a compelling, albeit unsettling, one. He suggests that riding the coming wave requires vigilance and a deep understanding of market cycles. While predicting a significant market rally, he also urges caution, emphasizing that the ultimate goal should be preserving capital and preparing for the inevitable downturn.

In his view, the short-term gains should be viewed as a prelude to a long and challenging period, ultimately leading to a fundamental shift in the global monetary system, a shift that favors the stability and security of gold.

Whether you agree with Zeberg’s specific timeline or not, his conversation with Jesse Day on “Commodity Culture” provides a thought-provoking and timely perspective on the potential trajectory of the markets and the future of money itself.

It underscores the importance of understanding macro trends and preparing for a range of potential outcomes in an increasingly uncertain economic landscape.

https://youtu.be/zmTjmc1dNk0

Iraq Economic News and Points to Ponder Wednesday Afternoon 3-26-25

Al-Nusairi: 2025 Indicators: A Strong Economy, A Recovering Dinar, And Developing Banks

Banks   Economy News – Baghdad   Economic and banking advisor Samir Al-Nusairi confirmed that his predictions, made in previous articles and statements, that our economic indicators in 2025 herald a strong and robust economy based on the availability of foreign currency reserves exceeding $108 billion and 163 tons of gold, sufficient to cover imports for 18 months.

Al-Nusairi said in an interview with Al-Eqtisad News that the local currency issued amounted to approximately 100 trillion dinars, and our dinar is recovering and gradually returning towards an exchange rate against the US dollar towards the equilibrium price targeted by the Central Bank.

Our banks are developing and proceeding at a steady pace in accordance with the Central Bank’s strategy for reform, development, digital transformation and compliance with international standards.

The number of Iraqi banks that have banking relations and accounts in solid international correspondent banks and deal with them directly in foreign transfers has reached approximately 20 banks and deal in multiple foreign currencies after leaving the electronic platform at the end of 2024.

He explained that the Central Bank is making great efforts to qualify, develop and assist other banks to join the twenty banks mentioned above, pointing out that it is closely monitoring the reality of monetary policy applications and the Central Bank’s procedures, closely monitoring international economic variables and their impact on the Iraqi economy and complying with international standards that allow Iraq to be regular in the global banking system and controlling the movement and safety of foreign currency trading.

The banks’ commitment to implementing the new foreign transfer instructions and addressing obstacles as soon as possible has refuted the extremist and pessimistic views that say the exchange rate crisis will continue and our situation will be like that of Lebanon, Iran, Syria and Turkey when the dollar devoured the local currencies of these countries.

He explained that through our precise knowledge of the Central Bank's monetary policy applications, its coverage of the entire demand for the US dollar in the trading market and through its various official outlets, and its control over the distribution of cash dollars according to a new method that the US Treasury praised and considered a globally advanced method for distributing the US dollar, and this is what I confirmed in my previous articles, that the dinar will recover and the crisis is temporary despite all the external and internal reasons.

At the end of his speech on the Central Bank, Al-Nusairi hoped that the next phase would be an evaluation and analysis phase of the achievements made in 2023 and 2024, and a re-evaluation of operating banks and licensed and unlicensed exchange offices, reclassifying them and developing their work in all fields in 2025.

He also hoped that stability would be maintained in the financial and monetary system and that important steps would be taken to stimulate and enable the banking sector to contribute to investment and development, as stated in paragraph 7 of axis twelve in the government program for reforming the financial and banking sector, because banking reform is the beginning of comprehensive economic reform.   https://economy-news.net/content.php?id=53806

The Ministry Of Planning Announces The Completion Of The 2025 Budget Schedules And Their Submission To The Council Of Ministers

Money and Business  Economy News – Baghdad  Minister of Planning Mohammed Tamim announced on Wednesday the completion of the 2025 budget tables and their submission to the Council of Ministers.

The office of the head of the parliamentary finance committee, Atwan Al-Atwani, stated in a statement seen by Al-Eqtisad News that "the committee, headed by Atwani, hosted Deputy Prime Minister and Minister of Planning Mohammed Tamim to discuss maximizing non-oil revenues."

Al-Atwani emphasized that "the Finance Committee noted a clear flaw in the estimation of non-oil revenues. By amending the law of the General Authority for Monitoring the Allocation of Federal Revenues, we seek to assess the extent of revenue from investment of state assets and other revenue streams, so that we can have a clear picture when formulating the country's financial policy."

He added, "The committee is determined to activate the work of this important constitutional body and grant it broader powers so it can assume its responsible national role."

He expressed his "concern over the halt in listing projects and the delay in financing ongoing projects," noting that "these reasons are a dangerous prelude that could lead us back to the problem of stalled projects."

The statement added, "The meeting reviewed a number of proposals and ideas agreed upon between the Finance Committee and the Minister of Planning regarding adding tasks and duties to the General Authority for Monitoring the Allocation of Federal Revenues and granting it expanded powers to review revenue estimates and plan for their collection."

He pointed out that "the meeting addressed the issues of the suspension of project listings, the delay in funding ongoing projects, the governorates' financial entitlements, and the delay in announcing the results of the population census."

For his part, the Minister of Planning said, "His ministry has completed its preparation of the 2025 budget schedules, and we have sent them to the Council of Ministers." He noted that they "do not include any new projects, but do include funding for ongoing projects."

The Minister of Planning added, "The results of the general population census are fully ready, and their delay depends on the arrival of some data related to the Kurdistan Region."

https://economy-news.net/content.php?id=53832

Data Confirms Iraq's Pivotal Role In The Global Oil Market

Buratha News Agency1412025-03-26  SOMO today explained the importance of Iraqi oil and its vital role in global markets, while indicating that Iraq has the fourth largest proven oil reserves in the world, at approximately 145 billion barrels. SOMO emphasized the advantages of Iraqi oil, explaining,

“Global crude oils are classified and their quality is determined based on their API (specific gravity) and sulfur content. Iraqi crude oil produced on this basis is classified into (medium and heavy crude oil) based on its specific gravity.

It has a high sulfur content for both types, according to the sulfur content standard. It is considered a crude oil with specifications (required globally), and is compatible with the operational plans of refineries that wish to produce specific products according to their needs.”

She explained that "among the advantages that help attract buyers are the significant and growing demand for medium and heavy crude oils, stable production, and the availability of large, stable quantities that ensure long-term supply contracts for these refineries.

The geographic location and low shipping costs make Iraqi oil a favorite in the Asian market, in addition to the fair, competitive price based on market fundamentals."

The company continued, "Iraq ranks fifth in the world in terms of oil production, with an output of approximately 4.27 million barrels per day, making it the second-largest producer in OPEC after Saudi Arabia. Iraq also has the fourth-largest proven oil reserves in the world, at approximately 145 billion barrels."

She pointed out that "this ranking reflects Iraq's vital role in global oil markets, as it contributes significantly to meeting global energy demand. Marketing-wise, Iraqi crude oil is considered an important oil with a good market reputation, as it is relied upon by many global refineries in their refining operations and there is relatively high demand for it."

 She added, "Iraqi crude oil is in global demand for refineries in several countries, as Iraqi crude oil is exported exclusively to companies that own refineries, but most of the companies to which Iraqi crude oil is exported are Asian companies, the most important of which are China and India, at a rate of approximately 70%, and approximately 30% for the other two markets, European and American combined."

She also pointed out that "OPEC and OPEC+ policies determine production levels, which are reflected in global prices, impacting the buying and selling of Iraqi crude oil. The greater the production restrictions, the higher the prices and the lower the quantities sold, and vice versa. These policies also impact the market share and financial returns."   https://burathanews.com/arabic/economic/458057

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 3-26-25

Good Evening Dinar Recaps,

RIPPLE-SEC LAWSUIT UPDATE: XRP SALES BAN MAY BE LIFTED SOON!

▪️Ripple withdrew its cross-appeal against the SEC, signaling the nearing end of their legal battle.

▪️The SEC may seek to lift the injunction that restricts Ripple's direct XRP sales to institutions.

▪️If the injunction is lifted, Ripple could resume institutional XRP sales, but must adhere to securities laws.

Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC) is nearing its final stage. The company has withdrawn its cross-appeal, leading to speculation that the SEC might ask the court to lift the injunction preventing Ripple from selling XRP directly to institutional investors.

If this happens, could Ripple restart these sales? Experts share their views on what this means for Ripple, the SEC, and the broader crypto market.

Could Ripple vs. SEC End Soon?

After the SEC settled its lawsuit with Coinbase, many in the crypto space wonder if Ripple’s case could also be resolved soon.

Ripple CEO Brad Garlinghouse confirmed that the company has withdrawn its cross-appeal, signaling that the legal battle is entering its final phase.

The SEC-Ripple Legal Battle: The Background Explained

The SEC’s injunction has significantly restricted Ripple’s business, preventing direct sales of XRP to institutional investors.

The legal fight began in 2020 when the SEC accused Ripple of selling XRP without proper authorization. Last year, Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that Ripple’s institutional sales were an unregistered securities offering. However, she clarified that XRP sales on public exchanges did not fall into the same category.

The SEC has not yet confirmed whether it will request the court to lift the injunction.

Experts Weigh In: Will Ripple Resume Institutional Sales?

Legal expert Fred Rispoli believes that if the court removes the injunction at the SEC’s request, Ripple could restart institutional sales. However, he emphasizes that the company must comply with securities laws.

He says: “Ripple’s institutional XRP sales still must conform to securities law but can now sell to say, hedge funds or private equity firms directly instead of to OTC desks first.”

XRP Community Reacts

While some XRP supporters see Ripple’s decision as a positive step, others remain uncertain about how it will affect XRP’s future.

Currently, XRP is trading at $2.47, reflecting a 6.6% increase over the past week and a 280.2% surge in the past year. At the start of this month, XRP was priced at $2.14602, meaning it has risen nearly 14.98% since then. However, it is still 18.73% below this month’s peak.

Ripple’s withdrawal of its cross-appeal is a key moment in its legal fight with the SEC. If the injunction is lifted, the company could resume institutional sales, but it must still comply with securities laws.

The XRP community remains divided – some are optimistic about XRP’s growth, while others remain cautious due to regulatory uncertainty. Ripple’s next moves and the SEC’s decision will play a crucial role in shaping XRP’s future.

Whatever happens, you can’t deny, this whole Ripple saga? It’s been a wild ride for everyone watching.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

WYOMING GOVERNOR SAYS STATE’S LONG-PLANNED STABLECOIN COULD LAUNCH BY JULY

Wyoming's planned stablecoin—first proposed in 2022—will work across Ethereum, Solana, Avalanche, and multiple ETH scaling networks.

The state of Wyoming is gearing up to launch its long-planned stablecoin in the coming months, Governor Mark Gordon said at the DC Blockchain Summit on Wednesday, with the state eyeing a potential July debut following a period of testing.

The stablecoin, which was first proposed via a state bill in February 2022, will be powered by LayerZero and be usable across multiple chains, including Ethereum, Solana, Avalanche, and the Ethereum scaling networks Base, Polygon, Arbitrum, and Optimism.

“We are thrilled to share Wyoming's vision for state leadership in the nation's capital,” Governor Gordon said in a press release issued following his DC Blockchain Summit interview. “Our forward-thinking approach to blockchain and digital asset legislation has positioned Wyoming as a model for not only other states, but the federal government as well.”

The token, WYST, which is now in testing phase across seven blockchain testnets, is poised to benefit both the state and its users, according to the Governor. He said that it will require an over-collaterization of the cash and U.S. Treasuries that back the token to reduce the risk of de-pegging, or shifting from the 1:1 ratio the token is supposed to hold with the U.S. Dollar.

Additionally, interest from the treasuries that back the token will be deposited into the state’s school foundation fund, according to a press release from the Governor.

Though the idea of its state stablecoin first surfaced in 2022, Wyoming’s progress accelerated in March 2023 with the passing of the Wyoming Stable Token Act, which led to the creation of the Wyoming Stable Token Commission—the group ultimately tasked with issuing a stablecoin that “aligns with state laws and fiscal responsibility.”

The Commission, which is leading the launch of WYST, is currently still engaging with vendors as it relates to the “development, deployment, and management of WYST.”

“The next phase of testing and customizing smart contracts is an imperative step towards delivering the best product for Wyoming and stable token holders,” said Commission Executive Director Anthony Apollo. “Once launched, WYST will grant holders the ability to transmit dollar-denominated transactions of any value, anywhere in the world, nearly instantly, with significantly reduced fees compared to traditional ACH or wires.”

The testing process is expected to occur throughout Q2 2025, leading up to the potential July launch.

Stablecoins remain at the center of crypto headlines in recent days and weeks, highlighted by the GENUIS Act, a bipartisan bill to create a regulatory framework for the tokens and their issuers.

On Tuesday, Wyoming-based Custodia Bank said it created the first bank-issued stablecoin on Ethereum. Wyoming’s launch of WYST would be the “first fiat-backed and fully-reserved stable token issued by a public entity in the United States,” according to the release.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 3-26-25

Good Afternoon Dinar Recaps,

BLACKROCK AND FIDELITY POISED TO ENTER XRP ETF RACE AFTER RIPPLE’S LEGAL WIN

Nate Geraci, a leading ETF analyst, forecasts that BlackRock and Fidelity will soon join the XRP ETF race, with approval expected to happen soon. His optimism stems from the resolution of Ripple’s legal battle with the U.S. SEC.

Ripple’s Win Clears Path for XRP ETF

Stuart Alderoty, Ripple’s top lawyer, revealed that the company successfully reduced its fine from $125 million to just $50 million, down from the SEC’s initial $2 billion demand. Additionally, the injunction against Ripple is expected to be lifted at the SEC’s request.

After four grueling years, experts say the way is now clear for an XRP exchange-traded fund (ETF) in the U.S. In a latest X post, Geraci noted “Seems obvious spot XRP ETF approval simply matter of time IMO. And yes, I expect BlackRock, Fidelity, etc to all be involved.”

He also highlighted that XRP is currently the third-largest non-stablecoin cryptocurrency by market cap, making it a significant player in the market. And given its size and growing interest, the largest ETF issuers, such as BlackRock and Fidelity, are unlikely to overlook the potential of launching an XRP ETF.

While the SEC has been cautious about approving altcoin ETFs, Geraci believes the agency will eventually approve them. He also highlighted the ongoing debate about whether broad crypto index ETFs or single-asset ETFs will lead the market. Despite expecting the SEC to set limits on approvals, Geraci remains optimistic about the growth of these financial products.

BlackRock To Partner With Ripple?

In a recent Bloomberg interview, Ripple CEO Brad Garlinghouse was asked about collaborating with BlackRock to launch an XRP ETF in the U.S. While Garlinghouse didn’t confirm the partnership, he sparked speculation by stating, “We think it makes sense for the XRP community overall”.

Many believe that once Ripple’s regulatory issues are resolved, asset managers will quickly move to launch an XRP ETF later in the year. Further Ripple CEO is also confident that XRP will join the U.S. Digital Asset stockpile.

Increasing Odds of XRP ETF Approval

Meanwhile, Polymarket, a decentralized prediction platform, shows an 84% chance of XRP ETF approval in 2025. With industry experts closely monitoring XRP’s price, many anticipate a potential breakout to $3 soon, signaling a promising future for the token.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

BRICS & US RACE FOR DIGITAL FINANCE SUPREMACY: WHO’S WINNING?

The last year has seen the emergence of the cryptocurrency market as a viable financial sector. Indeed, its arrival has spurred a host of nations to adopt the asset class in a bid to not get left behind. Moreover, it has only increased the conflict between the BRICS and the US as they race for digital finance supremacy. But the question is, who is winning?

US President Donald Trump has already stated his desire for the United States to be the crypto capital of the world. However, the BRICS alliance has already sought out the implementation of blockchain-based applications to help them curtail overreliance on Western systems. Amid a brewing trade war, these two sides are set to face off further in a budding crypto race.

BRICS and US Embrace Digital Finance: But Which Side is Coming Out Ahead?

Since the start of the year, the West and Global South have seen tensions escalate. With Donald Trump returning to the White House, he has targeted that region. Specifically, he has warned of impending 150% tariffs for those who are engaged in de-dollarization efforts.

Yet, the US dollar is not the only battlefield on which these two sides are fighting. Both BRICS and the US are engaged in an ongoing conflict for digital finance supremacy. However, the biggest question now is, just who is winning?

The BRIC bloc has long sought to embrace the blockchain revolution. It had created its very own blockchain-based payment system to counter the Western Swift. Moreover, they have introduced a gold-backed stablecoin that could revolutionize how it transacts with digital assets.

However, the United States is not far behind BRICS. The country has sought to overhaul its crypto policy since Trump returned to the Oval Office. This comes with the president’s plea to pass stablecoin legislation. These efforts all align with the belief that the nation could soon head the entire industry in the coming years.

Which Side Is Winning in 2025?

So, just who is winning at this moment? The question doesn’t have a clear-cut answer but can be explained nonetheless. BRICS is further in development at this stage; China is embracing the digital yuan, and India, Russia, and Brazil all have major digital currency initiatives in place.

However, the United States may have more potential due to the overarching business interest that the asset class has garnered in the nation.

Moreover, the arrival of the UAE’s new $1.4 trillion investment framework into the Western giant will only fasttract its digital finance development. Regardless of where they stand now, the coming months will be massive in determining if BRICS or the US is edging ahead.

@ Newshounds News™
Source:  Watcher Guru

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Trump vs. BRICS, the Battle for Global Currency Supremacy

Trump vs. BRICS, the Battle for Global Currency Supremacy

Geopolitical Analyst:  3-26-2025

The global financial landscape is undergoing a significant shift, and at the heart of this transformation lies a power struggle for the future of global currency supremacy.

 For decades, the US dollar has reigned supreme, serving as the cornerstone of international trade, investment, and holding the coveted title of the world’s primary reserve currency.

However, the rise of new economic powerhouses, particularly the BRICS nations (Brazil, Russia, India, China, and South Africa), and the expansion of the BRICS+ coalition, are challenging the dollar’s long-held dominance.

The emergence of these powerful economies, spearheaded by China and Russia, has ignited a strategic rivalry with the United States, each side vying for control over the future global currency system.

Fueling this competition is the legacy of former President Donald Trump’s “America First” policy, which sought to solidify the US dollar’s position. Meanwhile, the BRICS+ nations are actively exploring alternatives to de-dollarize and diminish the US currency’s influence.

But what do these competing forces mean for the global economy, and is the US dollar truly in danger of losing its coveted position as the world’s reserve currency?

The US dollar’s dominance in the global financial system spans nearly a century. After World War II, the Bretton Woods Agreement of 1944 established the US dollar as the central currency for international trade and finance. This landmark agreement, which pegged other currencies to the US dollar, solidified its position as the world’s reserve currency.

Even the collapse of the Bretton Woods system in the early 1970s couldn’t dethrone the dollar, which continued to reign supreme in global finance.

Several factors have contributed to the dollar’s unparalleled strength. Foremost among them is the sheer size and resilience of the US economy. As the world’s largest economy, the United States boasts a financial system that is deep, liquid, and trusted by investors worldwide. This inherent stability attracts capital and reinforces the dollar’s attractiveness.

Furthermore, the dollar has become the default currency for key global markets, most notably the oil market. The “petrodollar” system, which mandates that oil transactions be conducted in dollars, has been instrumental in cementing the dollar’s central role in global trade and demand.

Beyond economic factors, the dollar has also benefitted from its status as the preferred reserve currency for central banks worldwide. The United States’ considerable political and military influence further reinforces the dollar’s dominance. Countries looking to engage in trade with the US or maintain access to its vast markets are incentivized to hold dollar reserves, effectively reinforcing the dollar’s global position.

Watch the video below from Geopolitical Analyst for more information.

https://youtu.be/7BEp2erEXYM

Iraq Economic News and Points to Ponder Wednesday AM 3-26-25

The Central Bank Concludes Its Cycle On Dormant Accounts And Their Electronic System.
 
March 25, 2025   With the aim of developing the skills of banking personnel across all Iraqi governorates,
the Banking Studies Center, a division of the Central Bank of Iraq, concluded its course on dormant accounts and their electronic system.
 
The course targeted 54 trainees from various departments working in the financial, accounting, and internal auditing departments.

The training program included learning the
     concept of dormant accounts and
     how to identify them in the banking system,  
     acquiring the necessary skills to

     manage dormant accounts through electronic systems, and familiarizing them with

     electronic systems for monitoring and closing dormant accounts,

     ensuring compliance with standards and laws.
      
    Central Bank of Iraq      Media Office      March 25, 2025  https://cbi.iq/news/view/2834

Gold Rises As Safe-Haven Demand Increases Amid Tariff Concerns

Tuesday, March 25, 2025 | Economic Number of reads: 215  Baghdad / NINA / Gold rose on Tuesday, with increased demand for safe havens amid uncertainty surrounding tariffs that US President Donald Trump is expected to reimpose next week, amid fears of an economic slowdown, trade tensions, and concerns about inflation.

The price of gold in spot transactions rose 0.1 percent to $3,015.42 per ounce. US gold futures also rose 0.1 percent to $3,019.40.

As for other precious metals, silver in spot transactions rose 0.3 percent to $33.1 per ounce, platinum fell 0.1 percent to $973.35, and palladium increased 0.3 percent to $953.78. / End

https://ninanews.com/Website/News/Details?key=1193944

Basra Crude Prices Decline Despite Stable Oil Prices In Global Markets

Tuesday, March 25, 2025 | Economic Number of readings: 115  Baghdad / NINA / Basra Heavy and Basra Medium crude prices fell on Tuesday, with oil prices stabilizing in global markets.

Basra Heavy crude prices fell 17 cents, or 0.24%, to reach $69.87, while Medium crude prices fell 17 cents, or 0.23%, to reach $72.92.

Global oil prices stabilized as investors feared that Trump's tariffs would slow the global economy and limit demand for oil. Brent crude recorded $73.04, up one cent, and US crude recorded $69.13, up 4 cents.

https://ninanews.com/Website/News/Details?key=1193966

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 3-26-25

Good Morning Dinar Recaps,

BIG WIN FOR CRYPTO: OPERATION CHOKEPOINT 2.0 POLICIES ROLLED BACK

David Sacks, the White House crypto czar, celebrated a big victory today. He announced that the Federal Deposit Insurance Corporation (FDIC) is following the U.S. Office of the Comptroller of the Currency (OCC) in removing “reputational risk” as a factor in bank supervision.

This change effectively rolls back the controversial Operation Chokepoint 2.0 policies, which had led to the unfair debanking of crypto companies.

Sacks said that this is a big step forward for crypto. Operation Chokepoint 2.0, which was supported by figures like Senator Elizabeth Warren, used vague criteria like “reputational risk” to target crypto businesses.

This meant that institutions could be punished for negative publicity, whether true or not. The new policy change will make banking criteria more objective and fair, preventing political influence from hurting the crypto sector.

Sacks also credited Senator Tim Scott for his leadership in pushing these changes, especially through the Financial Institution Reform and Modernization (FIRM) Act. This move is expected to create a better environment for crypto businesses and could lead to higher prices for digital assets in the future.

Fox Business’ Eleanor Terrett added more context, explaining why “regulation by enforcement” doesn’t work. She explained that Ripple has spent between $150 million and $200 million in legal fees over the years, only to end up in the same position it was in when the SEC first filed the lawsuit in 2020. The SEC likely spent taxpayer dollars as well.

XRP holders were also negatively impacted, as exchanges removed the token, causing its value to drop. Many other crypto projects also became hesitant to build in the U.S. for fear of being targeted by the SEC. Terrett criticized SEC Chair Gary Gensler for focusing resources on crypto firms while missing major issues like FTX, 3AC, and Celsius, which caused real harm to investors.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

SEC SCHEDULES FOUR NEW ROUNDTABLES FOR CRYPTO TASK FORCE

The SEC is aiming to discuss and solve regulatory issues around crypto trading, custody, tokenization, and decentralized finance.

The SEC's Crypto Task Force announced Tuesday it will host four more roundtables on crypto and digital asset regulation.

The roundtables would run from April to June, building on the agency's efforts to create clearer rules for the industry.

Crypto roundtables are a way for the SEC to "hear a lively discussion among experts" in order to understand current regulatory issues and what the Commission can do to “solve them," Commissioner Hester Peirce, who leads the task force, said in a statement.

Sessions for the roundtables are slated to discuss trading (April 11), custody considerations (April 25), asset tokenization (May 12), and decentralized finance (June 6). The roundtables will take place at the SEC headquarters with both in-person and virtual attendance options.

Just a day after his appointment, acting SEC Chairman Mark Uyeda announced the establishment of the Crypto Task Force on January 21 to develop clear regulatory frameworks and registration paths for crypto companies.

By March, the SEC had assembled key figures and industry experts to help bolster these efforts.

The SEC's plan to host four more crypto roundtables follows on from the task force's first one held last Friday, which examined how securities laws might apply to digital assets.

"Spring signifies new beginnings, and we have a new beginning here, a restart of the commission's approach to crypto regulation," Commissioner Peirce said during that session.

Backstage at the first roundtable, Commissioner Peirce told Decrypt that the agency is also exploring how it could "provide some kind of framework or some kind of markers" to craft rules for NFTs as an asset category.

That followed its pronouncement on Thursday last week that crypto mining does not violate securities laws.

The move aligns with broader crypto policy changes under President Donald Trump, who has been supportive of the industry both during his campaign trail to become the first "crypto president" and right after his electoral win.

Since he began his second term as POTUS, Trump has signed an executive order establishing a strategic crypto reserve, moved to acquire as much Bitcoin as possible, and helped push a stablecoin bill forward, among other key initiatives he’s done so far for the crypto industry.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 3-26-2025

TNT:

Tishwash:  MP: America has no other means of pressuring Iraq than economic means.

Member of Parliament Amer Hussein confirmed on Wednesday that America has no other cards than the economic card and financial pressures to confront Iraq with in order to exert pressure and achieve its goals.

Hussein told / Al-Maalouma /, “America has no other cards than the economic cards against Iraq if it wants to tighten the noose on the country, such that it will move towards restricting the movement of Iraqi funds held in American banks.”

He added, "The American side has the economic card to play with Iraq, as it is possible to prevent dealings with certain companies and restrict financial transactions, but such a siege cannot be resorted to by Washington without justifications that push it to such options."

He explained that "America will not be able to re-exert pressure on Iraq through the security aspects related to the terrorist ISIS, and therefore it is working on the economic card to achieve its interests." End  link

Tishwash:  Al-Sudani: Iraq is witnessing a state of recovery, growth, progress, and prosperity.

Prime Minister Mohammed Shia al-Sudani affirmed on Tuesday that Iraq is witnessing a clear state of recovery, growth, progress, and prosperity, and that we are working to advance this process. He emphasized that establishing security and stability will enable the state to provide services and implement development and economic projects.

The Prime Minister's Media Office said in a statement, seen by Al-Eqtisad News, that "Commander-in-Chief of the Armed Forces, Prime Minister Mohammed Shia al-Sudani, joined officers and fighters of the Land Forces Command for a Ramadan iftar meal."

The statement added that "al-Sudani congratulated those present on the fasting of the holy month of Ramadan, stressing that the security and stability witnessed by the country is thanks to the sacrifices of the members of the security services of all kinds. He pointed to the improvement in security indicators, in light of security and stability, and the decline in terrorist operations, attacks and even criminal crime, stressing that imposing security and stability will enable the state to provide services and implement development and economic projects."

Al-Sudani stressed - according to the statement - the necessity of securing the fighter's entitlements and rights, especially those related to providing housing, indicating that "the Ministry of Defense has made significant progress in completing the requirements for distributing residential plots, and they will soon be distributed in serviced areas among members, as a government commitment, in addition to caring for the families of martyrs and the wounded, without whose sacrifices security and stability would not have been achieved in Iraq."

The Prime Minister affirmed that "Iraq is witnessing a clear state of recovery, growth, progress and prosperity, and we are working to continue it," stressing that "we must remain prepared, alert and vigilant, and this is achieved by adhering to basic principles."

He added that "discipline, commitment, professionalism and readiness to sacrifice are military values ​​that must be present, and leaders, officers, commanders and non-commissioned officers must instill them in their behavior towards army members." He explained, "We need continuous training and updating its curricula to raise the level and readiness of army members to face various challenges."

The Prime Minister explained that "the government has made significant strides in empowering the Iraqi army, with all its leadership, formations and types, especially in the field of armament."

He continued, "Arming the army will be done through several projects that we are working to complete, in addition to rehabilitating the infrastructure of bases and camps. It is our duty to deliver all rights stipulated by laws and decisions to the families of martyrs and the wounded."

Al-Sudani concluded his remarks by emphasizing that Iraq's path is moving in the right direction toward brotherhood, solidarity, unity, and a unified national discourse for all Iraqis.  link

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

Tishwash:  New Cabinet decisions include Eid al-Fitr holiday

Prime Minister Mohammed Shia al-Sudani chaired the twelfth regular session of the Council of Ministers on Tuesday, during which the latest developments in the country's general situation were discussed, the implementation of the government program was followed up, and the topics on the agenda were discussed and decisions were made regarding them.

A statement from the Prime Minister's media office, a copy of which was received by {Euphrates News}, stated: "On the occasion of Eid al-Fitr, the Council decided to suspend official work throughout the coming week. It also voted to grant a sum of money to orphans who receive cash assistance, as part of the social protection network."

He added, "In line with Iraq's consistent approach to supporting our Palestinian people in Gaza, the Council of Ministers has decided to authorize the Ministry of Health to send medicines, equipment, devices, and medical supplies to Palestinian patients and wounded patients in Egyptian hospitals. The Ministry of Foreign Affairs, in coordination with the Palestinian ambassador to Iraq, will determine the status of the wounded in Iraq and submit recommendations to the Prime Minister for decision."

In the file of supporting the Yazidi component, the Council of Ministers agreed to “extinguish (100%) of the amounts of purchasing residential plots of land, on which the houses are built in the Yazidi complexes in Sinjar and Al-Baaj, provided that a non-disposal sign is placed on the properties for a period of (3) years from the date of ownership, equal to the Council of Ministers’ decision (372 of 2019) related to Alqosh Castle in Nineveh Governorate, provided that this file is completed within 60 days.”

In the energy file, it was approved to “refer the tender for the Gas Processing Plant (GPP) at the Artawi Gas Processing Complex Project, South Gas Company, to the China Petroleum Engineering and Construction Corporation (CPECC).”

In the same context, the Council approved the recommendation to increase the purchasing power of the Deputy Prime Minister and Minister of Oil for the project to establish a gas isolation, drying and compression station in the East Baghdad field. The recommendation to refer the tender numbered CSSP-ITT-06 of Basra Oil Company to the China Petroleum Pipeline Engineering Company/CPPE was also approved, with a total implementation period of (54 months), including (42 months) for the design, preparation and implementation phases EPC and (12 months) for the operation, maintenance and training phase.

The statement continued, "The vote also included increasing the cost of the main project (to deliver fuel to industrial and electrical projects) for the Oil Ministry's pipeline company, approving the exemption of the Maysan investment refinery project from advertising, competition, and related decisions, and authorizing the Southern Refineries Company to sign the new contract."

As part of the government's efforts to diversify electricity sources, approval was given for "the Ministry of Finance to allocate plots of land in the governorates of Kirkuk, Anbar, Diyala, Salah al-Din, Najaf, Babil, Dhi Qar, Muthanna, Wasit, Maysan, and Diwaniyah) to establish renewable energy (solar) production stations, provided that the Ministry of Agriculture lifts the hand of agricultural reform from the lands covered by the agricultural reform laws, and the governorates are responsible for obtaining the approval of other relevant authorities as needed for each case."

The Council of Ministers approved authorizing the Minister of Electricity or his representative to do the following: 
1. The authority to sign with Power China International Group Limited, in the field of energy cooperation in Iraq, and to proceed with procedures in line with the Ministry of Electricity’s plan.
2. The authority to sign the principles of energy cooperation in Iraq – Phase III between the Ministry of Electricity and Siemens Energy AG.
3. Signing the framework agreement between the Ministry of Electricity and GE Vernova International.

In the agricultural sector, “the recommendation regarding the agricultural plan was approved, which includes the Ministry of Agriculture’s commitment to submitting agricultural plan distribution schedules at the level of irrigation schedules for the divisions and directorates in the governorates, in a way that ensures proper coordination between the concerned parties, and the rejection of the use of drainage water to irrigate lands, whether from the general drain, branches, or any other drains, as well as the approval of the recommendation regarding the adoption of the exploitation record and the endorsement of the Agricultural Committee in the governorate, and the endorsement of the Article (140) Committee, and for the preparation of seeds only.”

The Council of Ministers approved the "third periodic report of the Republic of Iraq on the Arab Charter on Human Rights after adopting its amendments, with the Ministry of Foreign Affairs referring the report to the relevant committee in the League of Arab States. The Council also voted to approve authorizing the Babil Governorate to issue an invitation to the company implementing the Great Hillah Sewerage Project - Phase One, the consortium of companies (GCIT BABI LIMED), to implement the second phase of the project."

As part of the government's approach to completing stalled and suspended projects, approval was given to "increase the reserve percentage and the total cost of the project (to establish a closed sports hall in Al-Qurna Sports Club), while the Council decided to postpone the collection of customs duties for imported electoral goods and materials in the name of the Independent High Electoral Commission and for their exclusive use in accordance with Cabinet Resolution (23035 of 2023), until December 31, 2025."

It was also approved that the Ministry of Planning would donate the tablets used in the 2024 General Population and Housing Census to ministries and government agencies.  link

Mot: .. Wishing YOu a - Day full of ""Daisies"" of course!! 

Mot: . oh lordy