Seeds of Wisdom RV and Economic Updates Monday Evening 5-12-25

Good Afternoon Dinar Recaps,

US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES DEMOCRATS

▪️The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.

▪️The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.

▪️Democrats remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.

The U.S. House of Representatives has passed the Stablecoin Innovation and Protection Act of 2025, a landmark piece of crypto legislation backed by President Donald Trump. The legislation, which passed with significant Republican support, proposes a federal framework for stablecoin issuance and sets broad new guidelines for how both private and public entities may issue and manage digital dollar-pegged tokens.

While the bill preserves some roles for state regulators—allowing entities like Wyoming’s digital asset office to license issuers—it also gives the U.S. Treasury, Federal Reserve, and SEC more say in oversight, compliance, and financial stability risks.

President Trump called the passage a "historic win for American financial innovation", noting that the bill will help the United States "compete with foreign stablecoins and preserve dollar dominance."

Still, Democrats remain deeply divided. Some, including Rep. Richie Torres (D-NY), backed the legislation, arguing that clear rules would help weed out bad actors and prevent future Terra-style collapses.

Others, including Rep. Maxine Waters (D-CA), warned that the bill "guts core consumer protections" and would "allow foreign and unvetted entities to flood the market with opaque dollar tokens."

The bill contains provisions that bar federal agencies from banning privacy-preserving technologies in stablecoin wallets but allows the Treasury to block specific transactions or protocols if national security risks are found. The move was seen as a concession to civil liberties groups and more libertarian-leaning Republicans.

Additionally, the bill defines what constitutes a “payment stablecoin” and allows registered institutions—like banks or licensed money services businesses—to issue them, provided they maintain 1:1 reserves in highly liquid assets such as dollars, Treasury bills, or central bank reserves.

However, it’s the international implications that may be most contentious. The bill would allow U.S.-licensed foreign firms to issue stablecoins within the U.S. market, so long as they report to U.S. regulators and pass quarterly audits. That move drew criticism from some lawmakers who fear it will benefit firms tied to adversarial governments.

Rep. Katie Porter (D-CA), who voted against the bill, said: "We are green-lighting a digital dollar shadow economy before we’ve even set the rules of the road."

The bill now heads to the Senate, where its prospects remain uncertain. Senate Banking Chair Sherrod Brown (D-OH) has yet to endorse the bill and is said to be drafting a competing version with tighter controls on foreign issuers and stricter anti-money laundering requirements.

For now, the House victory gives Trump a significant policy win as crypto continues to be a major wedge issue ahead of the 2026 midterm elections.

@ Newshounds News™
Source:  The Block

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GDP OF BRICS COUNTRIES OUTPERFORMS GLOBAL AVERAGE, US DISTANTLY BEHIND

The GDP of BRICS countries has outperformed market expectations and is exceeding the global average in 2025, according to the World Economic Outlook report published by the International Monetary Fund (IMF). The US, on the other hand, is distantly behind as its economy is growing in a limited manner this year.

In 2025, BRICS countries—Brazil, Russia, India, China, and South Africa—saw a combined growth of 3.4%, which exceeded expectations. The current consensus forecast predicts the GDP growth of the US at only 1.4% in 2025. The US economy is lagging behind this year with minimal growth, and the tariffs are threatening what little is left.

Below is the list of BRICS countries’ GDP projections for 2025:

• Ethiopia (6.6%)

• India (6.2%)

• Indonesia (4.7%)

• United Arab Emirates (4%)

• China (4%)

• South Africa (3.4%)

• Brazil (2.3%)

BRICS GDP Shines in 2025, US Economy On the Razor’s Edge

The latest data from the IMF also shows that BRICS accounts for 40% of the global GDP in 2025. That’s massive, as they already cover nearly half of the world’s economy. Their Purchasing Power Parity (PPP) is projected to reach 41% this year, signifying that the alliance is growing rapidly.

“There is no way that BRICS is not relevant, given the size of its population (and GDP in 2025). And there are also countries that are key in the supply of commodities, such as Brazil and Russia, which supply energy, food, and even very important strategic minerals,” said Rodrigo Cezar, Professor of International Relations at the Getulio Vargas Foundation (FGV) and a specialist in international political economy.

“So the BRICS countries are going to be very relevant in terms of dictating or giving direction to the prices of these materials,” leaving the US economy under its mercy, explained Cezar.

BRICS GDP could pressurize the markets in 2025, leading to it dominating the prices of the commodity markets this year.

@ Newshounds News™
Source:  Watcher Guru

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“Iraq and Iran” News posted by Clare at KTFA 5-12-2025

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Clare:  Iraq on Trump's agenda during his Middle East tour

5/12/2025

 US President Donald Trump is embarking on a tour of the Middle East, including Saudi Arabia, the UAE, and Qatar. This visit is described as crucial given the profound changes taking place in the region .

The Saudi capital, Riyadh, is hosting the summit that will bring together Trump and the leaders of the Gulf Cooperation Council countries .

According to the White House, the visit's agenda will focus on enhancing investment and security cooperation, in addition to discussing hot regional issues. Specific agreements are expected to be signed, establishing a new phase of strategic partnership between the United States and the Gulf states .

The changes include events in Gaza, Lebanon, and regime change in Syria, in addition to relations between Iran and the United States, and Israeli attacks .

Regarding the situation in Iraq, despite the entry of pro-Iranian factions into the conflict, US pressure has forced these factions to surrender their weapons to the state, with Tehran's blessing, according to media reports .

Trump's upcoming visit is an opportunity to redefine America's role in the region and define Washington's interests in light of a new reality characterized by shifting alliances and balances of power .

Amidst the Gaza conflict and the changing maps of Syria, Lebanon, and Iraq, Trump is visiting the region carrying a new vision for American engagement in the Middle East .   LINK

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Clare:  Japanese Mazda launches in Iraq with a new look

5/11/2025

Al-Aroush Cars Company announced the signing of an official distribution agreement with the Japanese company Mazda, making it the exclusive distributor of Mazda vehicles in Iraq. The signing took place in Hiroshima City in the presence of Al-Aroush CEO, Sabah Abdul Latif Al-Salem, and Mazda's Global Sales Manager, Manabu Osoga.

Under the agreement, Al-Aroush will provide Mazda vehicles manufactured in Japan, known for their performance and design, while adapting them to the needs of the Middle East market.

The plan begins with the launch of two centers for sales, after-sales services, and spare parts in Baghdad and Sulaymaniyah, with additional centers to be opened later in Erbil and Basra. The company also aims to support existing Mazda owners in Iraq through a network of genuine service, maintenance, and spare parts.    LINK

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Clare:  "Quantum leap"... Iraqi ports receive 207 oil tankers during the first quarter of 2025.

5/12/2025

The General Company for Iraqi Ports announced on Monday that Khor Al-Zubair oil port received 207 oil tankers during the first quarter of 2025.

The company's general manager, Farhan Al-Fartousi, told Shafaq News Agency, "Khor Al-Zubair Oil Port has been able to provide marine services, including docking, launching, loading, unloading, and fuel loading for incoming ships."

He added that "the oil tankers received all logistical services within the port under the supervision of maritime control, with high efficiency," noting that "this performance reflects the development of the port's infrastructure and the efforts of its workforce."

Last February, the Director General of Iraqi Ports, Farhan Al-Fartousi, revealed an "unprecedented" achievement in Iraq's history: the International Maritime Organization's   LINK

Clare:  Al-Sudani appreciates the International Monetary Fund's efforts in supporting Iraq and its financial and monetary institutions.

5/12/2025- Baghdad

Prime Minister Mohammed Shia al-Sudani on Monday commended the International Monetary Fund's efforts in supporting Iraq and its financial and monetary institutions, reviving their vital role domestically and internationally.

The Prime Minister's Media Office said in a statement, seen by Al-Eqtisad News, that "Prime Minister Mohammed Shia al-Sudani received the head of the International Monetary Fund's mission to Iraq, Jean-Guillaume Poulin, and the Fund's Resident Representative in Iraq, Mohammed Jaber."

The statement added, "Al-Sudani appreciated the efforts of the International Monetary Fund in supporting Iraq and its financial and monetary institutions, thus restoring their vital role at the local and international levels, especially since the Fund is a key partner in Iraq's efforts to reform the economy and enhance its stability." He stressed that "the achievements made by the government in the financial, banking and economic fields represent positive steps towards achieving stability and sustainable development in the country."

According to the statement, Al-Sudani pointed to "the importance of continued support from international partners for the government in intensifying efforts to mitigate the impact of the challenges facing the region, thus facilitating the implementation of steps aimed at diversifying and sustaining the economy, through the investment environment it has provided that has attracted major development projects."

For his part, Polan commended the significant progress made by the Iraqi government in economic reform, including the development of the tax and customs system. He expressed the IMF's readiness to increase coordination and joint action, and to provide the necessary advice in areas of enhancing non-oil revenues.    LINK

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Clare:  Rafidain launches the second phase of "Riyada" with national funding and a new economic vision.

5/12/2025

Rafidain Bank announced, today, Monday, the launch of the second phase of financing the “Riyada” initiative projects, after the success of the first phase, which witnessed the financing of more than (8,000) productive projects at the individual level, with a total amount exceeding (107) billion Iraqi dinars, which constituted a real boost to the path of self-employment and stimulating the local economy.

Rafidain Bank's General Manager, Ali Karim Al-Fatlawi, confirmed in a statement received by {Euphrates News} that "the bank no longer views financing as merely a traditional banking service, but rather treats it as a strategic development tool with a national focus, aiming to support youth, stimulate local markets, and establish new foundations for a productive economy free from rent-seeking and random employment." 

He added, "The bank has allocated sufficient funds to finance new projects submitted through Riyada, after completing the technical, legal, and economic feasibility assessment requirements. He emphasized that Rafidain Bank is gradually transforming into the largest national platform supporting entrepreneurship and local production."

For his part, Hussein Flamarz, Advisor to the Prime Minister, pointed out that “the projects ready for financing exceed (10,000) projects, appreciating Rafidain Bank’s exceptional response to the initiative, and its close cooperation with the global smart card company (Ki Card) in facilitating procedures and reaching beneficiaries.” 

In this context, the Director General of Rafidain Bank renews his call to all national institutions, foremost among them the Central Bank of Iraq, to ​​actively engage in this national initiative by:

 • Allocating easy financing windows for emerging projects,

 • Launching a national fund to guarantee entrepreneurs’ loans,

 • Integrating the “Riyada” initiative into the upcoming financial inclusion strategy.   LINK

Clare:  Central Bank of Iran: Removing four zeros from the national currency is at the heart of the action plan for this year.

5/12/2025

The Governor of the Central Bank of Iran, Mohammad Reza Farzin, announced that removing four zeros from the national currency is one of the bank's priorities this year.

Mehr News Agency reported that during a specialized session on "Strengthening Monetary and Banking Governance and Investment in Production," Farzin noted that the Central Bank is seriously pursuing the country's monetary system reform program this year, explaining that removing four zeros from the national currency is one of the key measures included in the action plan.

Farzin added that the policy of controlling the growth of banks' balance sheets will continue, with the aim of curbing inflation and increasing liquidity. He emphasized that removing the four zeros from the national currency is part of the monetary system reform program, which is being seriously pursued.

The Central Bank Governor also noted that developing and issuing various types of monetary policy instruments, including deposit paper and inflation-protected securities, is among the bank's major objectives. He also emphasized that a special production account will be established to support the economy's productive sectors in a targeted manner.   LINK

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Clare:  Iran announces imminent visit of Russian president to Tehran

5/12/2025   Baghdad /  

The Iranian government announced, on Monday, that it is preparing to receive Russian President Vladimir Putin during an upcoming visit to Tehran, within the context of deepening strategic cooperation between the two countries.

Government spokeswoman Fatima Mohajerani said in a press conference, "Iran is awaiting President Putin's visit soon, and is currently working to complete the arrangements related to receiving the high-level Russian delegation."

This visit comes in light of rapid regional and international transformations, and growing coordination between Tehran and Moscow on political, security and economic issues.

Iranian President Masoud Pezeshkian visited Moscow in mid-January, where he met his Russian counterpart and oversaw the signing of the "Comprehensive Strategic Partnership Agreement" between the two countries, which Putin officially ratified on April 21.  LINK

Iraq Economic News And Points To Ponder Monday Afternoon 5-12-25

46 Prominent Iraqi Businessmen And Traders Travel To America.
 
Baghdad Today – Baghdad  The U.S. Embassy in Baghdad announced today, Sunday, May 11, 2025, that it will lead a delegation of 46 Iraqi business leaders, including representatives from the Kurdistan Region of Iraq, to ​​the United States to participate in the annual SelectUSA Investment Summit.
 
The US Embassy noted in a statement received by Baghdad Today that
the summit will be held in the Washington, D.C., area from May 11th to 14th.  

She noted that "the delegation includes diverse economic sectors, including technology, cybersecurity, tourism and hospitality, food and beverage industries, franchises, agriculture, construction, investment, pharmaceutical industries, real estate, and the oil and gas sector.
 
This diversity highlights the broad opportunities for cooperation and joint investment between the United States and Iraq."
 
The SelectUSA Summit is the largest event of its kind aimed at encouraging foreign direct investment in the United States.
 
The summit attracts international investors, representatives from state and local governments, and
government officials, with the goal of facilitating the flow of investment into the US economy.
 
The summit is organized by the US Department of Commerce, which provides essential information and services to help foreign investors understand and complete investment procedures in the United States.
 
The goal is to enable Iraqi companies to identify investment opportunities in the United States and grow their businesses, according to the statement.

He explained that "this visit comes within the context of a series of important visits aimed at strengthening economic relations between Iraq and the United States in various sectors."
 
It's worth noting that a delegation from the US International Development Finance Corporation visited Baghdad this May, and in April, more than 100 businessmen and companies affiliated with the American-Iraqi Chamber of Commerce participated in a business forum held in Baghdad.        https://baghdadtoday.news/274002-46.html 

Ministry Of Oil: Iraq Is Floating On A Large And Inexhaustible Oil And Gas Reservoir.

Time: 2025/05/11 08:15:30 Reading: 3,030 times   {Economic: Al Furat News} The Ministry of Oil reported that Iraq is floating on a large oil and gas reservoir from north to south, and work is ongoing to reach new discoveries.

Osama Raouf Hussein, the director general of the Ministry of Oil Exploration's company, said in a press statement that "Iraq's reserves are large and are what raises its ranking in the Organization of the Petroleum Exporting Countries (OPEC)," noting that "Iraq is floating on a large oil and gas reservoir from north to south, and it will not be depleted from now on and for a very long time."

He added, "The Oil Exploration Company is a pioneer in the field of seismic surveys and is the sole exploration arm of the Ministry of Oil. 8

With the help of its seismic teams spread throughout Iraq, it has been able to carry out seismic surveys for international companies. It signed a contract with the Chinese company Geo-Jade to carry out a two- and three-dimensional seismic survey of the Khana oil patch in Diyala Governorate.

This contract was implemented with purely national efforts and with modern capabilities, potential and technology that rivals what exists in the world. It was implemented in record time and with a 100 percent completion rate.

In addition, a contract was signed with the Angolan company Sonangol to carry out three-dimensional surveys of the Qayyarah field in Nineveh Governorate, which was completed 100 percent. The Oil Exploration Company received certificates of appreciation and praise from both companies for the information, accuracy and speed of completion."

Hussein explained that, "Despite the limited and scarce financial capabilities, the company was able to carry out 15 two-dimensional seismic surveys at the national level, with completion rates of 102.4 percent, in addition to four three-dimensional surveys with a completion rate of 116 percent."

He stressed that "the Oil Exploration Company is currently using the most modern surveys in the world, and is in the process of introducing wireless technology, which is characterized by flexibility, ease of use, and saving time, effort, and cost."

The Director General of the Oil Exploration Company indicated that "it was able to achieve revenues estimated at 230 billion dinars during the past year, in addition to achieving revenues through the VSP vertical survey team estimated at 114 thousand dollars by signing a contract with the American company (Halliburton), in addition to contracts with (Anton Oil) in the Al-Faiha field, and (EBS) in the East Baghdad field."

He explained that "the Oil Exploration Company was supposed to receive an operating budget estimated at 200 billion dinars, of which the company received only 10 percent," noting that "the company was threatened with ceasing operations had it not signed some contracts through which it was able to achieve high revenues."

Hussein continued, "The mission of the Oil Exploration Company is to enhance hydrocarbon reserves and replenish depleted reserves. This is achieved through exploration of hydrocarbon reservoirs and assessment of their reserves, through geological and geophysical exploration studies, and identifying the locations of exploratory wells. When they are drilled and produce oil or gas, this means they have added to Iraq's reserves and replenished depleted reserves through local consumption and export outside Iraq."  LINK

Iraq Was The Third Largest Oil Exporter To The US Last Week.

Energy  Economy News – Baghdad   Iraq ranked third as the largest oil supplier to the United States last week.   The US Energy Information Administration reported that US crude oil imports from ten major countries averaged 5.269 million barrels per day last week, up 176,000 barrels per day from the previous week's average of 5.093 million barrels per day.

The administration added that "Iraq's oil exports to the United States reached an average of 229,000 barrels per day, making Iraq the third-largest oil exporter to the United States last week."

She continued, "The largest oil revenues to America during the past week came from Canada, at a rate of 3.834 million barrels per day, followed by Mexico at a rate of 384,000 barrels per day, then Iraq at a rate of 229,000 barrels per day, then Colombia at a rate of 164,000 barrels per day, and then Saudi Arabia at a rate of 160,000 barrels per day."

She explained that "the amount of US crude oil imports from Ecuador reached an average of 156,000 barrels per day, from Venezuela an average of 144,000 barrels per day, from Brazil an average of 86,000 barrels per day, from Nigeria an average of 83,000 barrels per day, and from Libya an average of 29,000 barrels per day."   https://economy-news.net/content.php?id=55332

Customs Automation Increases Government Revenues To More Than 59 Billion Dinars.

May 11, 2025  Baghdad - Ibtihal Al-Arabi   Finance Minister Taif Sami revealed a quantum leap in customs revenues, exceeding 59 billion dinars, following the implementation of the ASYCUDA customs automation system at several border crossings.

Sami said in a statement yesterday that (customs revenues before implementing the ASYCUDA system amounted to 375 billion dinars, while after implementation it increased to 435 billion dinars, an increase of 59 billion dinars), and indicated that (the General Authority of Customs has begun implementing the ASYCUDA system in 15 customs centers, including the air cargo customs, the dry port, the Baghdad International Airport terminal, the Great Welcome Square customs, Trebil, Safwan, Arar, Umm Qasr Middle, Umm Qasr South, Kirkuk Airport, and the ports of Zurbatiyah, Al-Mundhiriya, Mandali, Al-Shaib, and Al-Shalamcheh).

She indicated that (the Authority has currently begun implementing the second phase of the system, which extends over two years, and includes its implementation in 8 remaining customs centers, in addition to linking 12 electronic applications to the system, including land transport clearance, the smart value and selectivity system, and the exemptions, licenses, and certificates system, which will enable the system to be linked with all ministries).

Meanwhile, the Border Ports Authority has compiled a list of all violations detected during the month of April.

In a statement received by Al-Zaman yesterday, Authority spokesman Alaa al-Din al-Qaisi said, "Based on the directives and follow-up of Prime Minister Mohammed Shia al-Sudani, the Authority detected violations that fell under several headings."

Customs Violations

He stressed that "the total number of customs cases referred from our ports to the judiciary amounted to 119 cases for customs violations, while 131 suspects wanted by judicial warrants were arrested."

He confirmed that (attempts to smuggle money were thwarted, with 6 seizures), and went on to (seize narcotic substances and arrest their possessors, as 26 drug smuggling attempts were thwarted, as well as deport 155 people violating residency conditions, in addition to a number of joint activities with departments operating at border crossings, most notably with the General Authority of Customs, where the number reached 13 cases, including the destruction of materials unfit for human consumption, and the re-issuance of goods that failed inspection).

He continued that (all violations were subject to the necessary legal measures, and were referred to the judicial authorities according to proper seizure reports), pointing out that (all measures come from the implementation of government directives to tighten and control border crossings, and the Authority continues to follow up on all violations and work to control and reduce their occurrence).

 Meanwhile, the Trade Bank of Iraq warned citizens of the risks of sharing their electronic payment card information.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement yesterday that "the bank urges customers not to share their card numbers or confidential information, such as the PIN, verification code, or any other details, with any party."

Official Channels

He pointed out that "there are electronic fraud attempts targeting cardholders through fake messages claiming to be from the bank," calling on everyone to "exercise caution and report any suspicious attempt immediately through the bank's official channels." He went on to say that "the bank continues to take all necessary security measures to protect customer data and ensure the integrity of their financial transactions."    LINK

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

Iraq Economic News And Points To Ponder Monday Morning 5-12-25

How Did The Central Bank's Strategic Plan Control The Dollar Price?

Banks   Economy News – Baghdad   The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Sunday that the strategic plan adopted by the Central Bank, in cooperation with banks, focused on controlling the buying and selling of dollars outside official channels.

This was achieved by accommodating foreign trade requirements and meeting demand through open and correspondent accounts. This contributed to a decline in demand for dollars in the parallel market.

Saleh explained that "the narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy."

He added, "This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law."

He noted that "these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities."

Regarding the operational aspect of the Central Bank's strategy, Saleh noted that "supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

 He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness."

Regarding monetary policy and enhancing confidence in the banking system, he stated that "the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels.

This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system."  https://economy-news.net/content.php?id=55350

After The Dollar's Decline Against The Dinar, The Government Announces The Central Bank's Success In Establishing An Electronic Monitoring System To Track Transfers

Buratha News Agency1372025-05-11   The Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar's decline against the dinar in Iraqi markets.

"The narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy," Saleh told the official agency.

He added, "This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law."

He noted that "these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities."

Regarding the operational aspect of the Central Bank's strategy, Saleh noted that "supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness."

Regarding monetary policy and enhancing confidence in the banking system, he stated that "the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels. This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system."   https://burathanews.com/arabic/economic/459997

A Government Advisor Reveals The Reason For The Dollar's Decline Against The Dinar.
 
Economy     2025-05-11 | 08:49   5,764 views  The Prime Minister's financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar's decline against the dinar in Iraqi markets.
official exchange rate and the exchange rate in the
 
"The shrinking gap between the parallel (black) market is one of the most prominent indicators of the success of the strategic directions to control the currency market outside official channels,  which has had a   positive impact on economic stability and the  interconnectedness of the Iraqi economy," 
Saleh said in an interview with the official agency, followed by Sumaria News.

He added,  "This approach has contributed significantly to enhancing the stability of the monetary market,  which benefits the strength of the Iraqi dinar and  represents a key factor in
     improving the business environment and
     attracting local and foreign investments,
particularly those operating under the Investment Law."

He noted that  "these measures also contribute to strengthening financial and banking governance
by supporting transparency and restricting cash transactions to official channels,
which helps combat money laundering, terrorist financing, and illegal financial activities."
 
Regarding the operational aspect of the Central Bank's strategy, Saleh noted that  supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards."

He emphasized that "the Central Bank has succeeded in establishing an electronic monitoring system
to track transfers and banking operations in foreign currency.
 
This system has passed multiple testing stages and proven its effectiveness."
 
Regarding monetary policy and enhancing confidence in the banking system, he stated that  
"the strategy adopted has contributed to reducing annual inflation rates by
     limiting exchange rate fluctuations in the parallel market and
     providing foreign currency through official channels.
 
This has helped boost confidence in banks and reduce reliance on the informal market, thus
gradually supporting the value of the dinar."

He continued, "These measures are pivotal within the Central Bank's strategy to reform the financial and banking system," stressing that "the continued success of this process requires   sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to
     strengthening governance and compliance to
     ensure transparency, integrity, and effectiveness in the financial system."    
  
https://www.alsumaria.tv/news/economy/525851/مستشار-حكومي-يكشف-سبب-تراجع-الدولار-أمام-الدينار   

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

Seeds of Wisdom RV and Economic Updates Monday Morning 5-12-25

Good Morning Dinar Recaps,

U.S. ANNOUNCES CHINA TRADE DEAL IN GENEVA

Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive.

We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”

U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.

That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”

@ Newshounds News™
Source:  The White House

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BRICS OR THE US? SAUDI ARABIA MAY HAVE CHOSEN A SIDE AMID THE FACEOFF

Since the start of the year, the BRICS economic alliance and the US have seen tensions explode, and Saudi Arabia has unwillingly sat at the center. Indeed, their issues have reached a fever pitch amid a brewing trade war between the United States and China. Now, all eyes are on Riyadh and where its loyalties could lie in a geopolitical sense.

The country was among the first to be included in the bloc’s landmark expansion plan. However, since accepting an invitation to join, Saudi Arabia has yet to fully become a part of the collective. Now, that may never come, as it stands in a complicated position with both allies.

Saudi Arabia Stands at the Center of US & BRICS Conflict: Which Side Are They On?

Since his return to the White House, US President Donald Trump has not minced words regarding the BRICS bloc. Indeed, he warned that the bloc would face a 150% tariff for its attempts at creating a currency to rival the US dollar. Moreover, it has hit China with import duty increases as high as 245% amid its ongoing challenges.

Those issues have only continued to fester throughout the year. Moreover, it has created a rather uncertain geopolitical dynamic for one nation at the center. Specifically, as the BRICS and the US face off, Saudi Arabia may soon be forced to choose a side. That is, if it hasn’t already done so.

Saudi Arabia was present at a BRICS meeting last week, according to sources. Moreover, it is still considered a potential BRICS nation after accepting its invitation to join as an expanding country.

However, that may not tell the whole story. Specifically, the country is worried that its BRICS relations will threaten its partnership with the US, Reuters reports.

Saudi Arabia “does not want to risk US anger as negotiations are underway in Washington,” the report noted. This created a notable balancing act between its US and Chinese relations. On the one side, China is its biggest oil exporter. Alternatively, Washington is a key security and tech partner.

The decision may have already been made due to its inaction; however, Riyadh has yet to officially join BRICS. Therefore, it may be able to salvage its relationship with China on its own. Subsequently, ensuring its partnership with both nations could endure, with only BRICS suffering in the end.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

DEMOCRATIC SENATORS PROPOSE BAN ON CRYPTO PROMOTION BY TRUMP, SENIOR GOVERNMENT OFFICIALS AMID STABLECOIN BILL SPAT

▪️__A group of 20 Democratic Senators__ has introduced legislation that would ban the creation and promotion of cryptocurrencies by the President, Vice President, Congress, and Senate-confirmed Cabinet members, among some others.

▪️__The legislation was introduced amid growing tensions__ over the Senate’s stablecoin bill, after a number of Democrats withdrew their support from the current version of the bill.

▪️__The bill would attempt to prohibit Trump and Melania from profiting from their memecoins, though it would not necessarily impact the World Liberty Financial project.

▪️Elon Musk, as a Special Government Employee, would also be barred from promoting crypto.

A group of 20 Democratic Senators have unveiled new legislation that seeks to prohibit senior government officials from issuing or endorsing cryptocurrencies, as key Democrats raise concerns about President Trump's business dealings in the crypto sector.

The so-called “End Crypto Corruption Act of 2025” would prohibit the President, Vice President, members of Congress, individuals appointed to Senate-confirmed positions, and certain other special government employees in the Executive Office, plus their spouses and dependent children, from issuing, sponsoring, or endorsing any cryptocurrencies or other digital assets.

One such special government employee: Elon Musk, alongside other members of the Department of Government Efficiency (DOGE) team. Musk recently clarified that the department has no plans to use the memecoin of the same name in its official capacity.

Normal sale transactions would be permitted in the current form of the bill, which imposes fines and possible jail times on offenders. The bill covers government employees and their families during their term and for one year after, and was introduced on May 7.

The bill, the Senate counterpart of similar House legislation introduced earlier this year, is the latest response to the escalating political negotiations over the Senate's stablecoin bill.

A number of Senate Democrats voted against the legislation in its current form,  accusing Republicans of not compromising on key issues like anti-money laundering legislation and foreign issuer oversight.

The bill seeks to prevent President Trump and his wife Melania from profiting from their memecoins, which were issued shortly before the inauguration. $TRUMP has recently traded higher after Trump announced its top holders would be personally invited to a White House dinner, raising conflict of interest concerns from some Democrats.

However, it's unclear whether Trump’s position as “chief crypto advocate” at the World Liberty Financial firm — more closely associated with his sons and senior administration members — would be prohibited under the bill in its current form.

Senate Democrats have recently raised concerns about a planned $2 billion deal between an Abu Dhabi investment firm and Binance with the firm’s WLD1 stablecoins.

“Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies,” several Democratic senators wrote last week.

Senator Elissa Slotkin (MI), a co-sponsor of the bill, told Michigan Advance that preventing Trump from profiting from his memecoin is more pressing than broader crypto regulation:

“We’ve got a more immediate crocodile closer to the boat, and that’s the president of the United States, selling his own currency and marketing his own currency and using it as a form of payment to line his pockets,” Slotkin said.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 5-12-2025

TNT:

Tishwash:  Monetary policy raises the value of the dinar and reduces reliance on the parallel market

The Iraqi dinar has recently recorded strong performance against the dollar, driven by a series of monetary measures adopted by the Central Bank, which have contributed to reducing demand for hard currency in the parallel market and enhancing the confidence of traders in official channels.

This improvement comes amid ongoing government efforts to consolidate financial stability and stimulate business activity through effective monetary instruments and transparent and direct financing mechanisms.

Deputy Governor of the Central Bank of Kuwait, Dr. Ammar Hamad, confirmed to Al-Sabah that this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade. He explained that this policy has enabled the commercial family to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market.

Hamad noted that the Central Bank continues to work toward consolidating the local banking system and raising its operational efficiency to levels consistent with international banking standards, making it a fundamental pillar in driving economic development in Iraq. He added that the bank is adopting advanced mechanisms that enable banks to offer diverse banking products that support various economic sectors and facilitate financing and cash flow operations.

For his part, the Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Mohammed Salih, explained that a number of factors contributed to strengthening the value of the dinar, most notably the weak demand for the dollar in the parallel market, as a result of the Central Bank's policies regarding financing foreign trade for the private sector. He explained that the bank strengthens Iraqi banks' dollar balances through their correspondents abroad, especially banks with a high credit rating (AAA), which speeds up the execution of international transfers and reduces the need for dollars in the local market.

He also indicated that the move towards using alternative currencies such as the euro, yuan, dirham, and lira in banking transactions has helped reduce excessive reliance on the dollar.

Saleh also noted that enabling small businesses to access financing sources directly through Iraqi banks, without costly intermediaries, has helped reduce operating costs and improved commercial efficiency, as this segment represents approximately 60% of private sector trade. He added that travelers can now easily obtain their foreign currency dues via payment cards at a subsidized exchange rate of 1,320 dinars to the dollar, in addition to the ability to receive dollars in cash at Iraqi airports, which has eased pressure on the parallel market.

In the same context, economic expert Nazir Al-Saadi emphasized that the money transfer services provided by the Central Bank have become safer and more effective, which has prompted business families to move away from the parallel market, which is characterized by significant risks and high costs.

He explained that relying on official transfers not only ensures the safety of transactions, but also reduces the final cost of imports, which is positively reflected in the prices offered to consumers. He added that random transfers from the parallel market often caused losses to importers due to failure to implement them or due to price fluctuations, while the Central Bank mechanism provides a stable financial system that preserves the value of the currency and reduces Opportunities for manipulation. link

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

Tishwash:  The US Embassy: the participation of an Iraqi delegation in an annual investment summit.

The US Embassy in Baghdad announced on Sunday that an Iraqi delegation will participate in the annual SelectUSA Investment Summit this May.

The embassy said in a statement that it is leading a delegation of 46 business leaders from Iraq, including the Kurdistan Region of Iraq, to ​​the United States to participate in the annual SelectUSA Investment Summit, which is being held in the Washington, D.C., area from May 11-14.

The embassy added that the delegation "includes a diverse range of sectors, including technology, cybersecurity, tourism, hospitality, food and beverage, franchising, agriculture, construction, investment, pharmaceuticals, real estate, and oil and gas. This diversity highlights the broad opportunities for cooperation and investment between the United States and Iraq."

It emphasized that the summit "is the largest event dedicated to promoting foreign direct investment in the United States," noting that it "brings together international investors, representatives from state and local governments, and government officials to facilitate investment in the American economy."

She explained that the summit "is organized by the Ministry of Trade and provides essential information and services to help foreign investors navigate the investment process in the United States," noting that it "aims to help Iraqis identify investment opportunities in the United States and grow their businesses."

The embassy continued in its statement, "This visit is part of a series of important visits aimed at strengthening economic relations between Iraq and the United States across various sectors."

It concluded by saying, "During May, a delegation from the U.S. International Development Finance Corporation visited Baghdad, and in April, more than 100 businessmen and companies from the American-Iraqi Chamber of Commerce participated in a business forum in Baghdad."  link

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

Tishwash:  The 2025 budget schedules will be finalized by the end of May.

MP Baqir Al-Saadi stressed that "the existence of 2025 budget schedules is important to ensure project funding and provide financial support for local governments, enabling them to proceed with implementing service projects across all sectors."

Al-Saadi indicated in a press interview seen by (Al-Masry Al-Youm, Sunday 5/11/2025) that “the 2025 budget schedules will be decided by the end of this May.”

He said, "Despite talk of the possibility of postponing the budget resolution until after the November 2025 elections, there are indications that the budget schedules may be finalized by the end of this month. Thus, after the end of the legislative recess, the parliament will have the opportunity to finalize it or hold extraordinary sessions to discuss and vote on it."

He explained that "the delay in finalizing these schedules and the Cabinet's failure to send them to the Parliamentary Finance Committee for review before submitting them to the Parliament Presidency for a vote has negative repercussions on the funding of service projects in ministries and local governments." link

Mot:  ... Don't Forget – Grandma  

BRICS Cracking Western Empire as Global Financial Reset Accelerates

BRICS Cracking Western Empire as Global Financial Reset Accelerates

Lena Petrova: 5-10-2025

For decades, the US dollar has reigned supreme as the undisputed king of global finance. Its dominance has underpinned international trade, served as the primary reserve currency for nations worldwide, and granted the United States unparalleled economic leverage.

However, rumblings of discontent have been growing, and a powerful force is emerging that threatens to challenge this long-standing status quo: the BRICS alliance.

The BRICS nations – Brazil, Russia, India, China, and South Africa – representing a significant portion of the world’s population and economic output, have been actively pursuing a policy of de-dollarization.

This multifaceted strategy aims to reduce reliance on the US dollar in international trade and financial transactions, ultimately paving the way for a more multipolar global financial system.

Several factors are driving this push for de-dollarization. Firstly, the perceived weaponization of the dollar by the US, particularly through sanctions, has created a desire for alternative economic pathways. Nations feel vulnerable when their access to the global financial system can be unilaterally restricted by Washington.

Secondly, the BRICS countries are increasingly frustrated with the inherent disadvantages of the dollar-centric system. They argue that it necessitates holding large reserves of US dollars, exposes them to US monetary policy decisions, and limits their economic sovereignty.

Finally, the ambition to create a truly multipolar world, both politically and economically, fuels the de-dollarization agenda. The BRICS nations seek to assert their influence on the global stage and challenge the long-held dominance of the West.

The de-dollarization efforts of the BRICS nations are undeniably contributing to a potential shift in the global financial landscape.

While a complete dismantling of the dollar’s dominance is unlikely in the near future, the erosion of its influence is becoming increasingly apparent. This could be interpreted as a gradual “reset” of the global financial order.

Despite the momentum behind de-dollarization, significant challenges remain. The US dollar’s deep-rooted infrastructure, network effects, and safe-haven status are formidable obstacles. Furthermore, ensuring the stability and credibility of alternative currencies and payment systems is crucial for their widespread adoption.

The BRICS alliance’s pursuit of de-dollarization represents a significant challenge to the existing global financial order. While the path to a truly multipolar system is long and complex, the efforts to reduce reliance on the US dollar are gaining traction and could lead to a fundamental shift in the balance of economic power.

The acceleration of these efforts suggests that a global financial reset, characterized by increased multipolarity and a redistribution of economic power, is not just a possibility, but an unfolding reality. The future will undoubtedly witness a more contested and fragmented global financial landscape, where the dominance of the US dollar is no longer taken for granted.

https://youtu.be/I_TMb844VHY

Iraq Economic News And Points To Ponder Sunday Morning 5-11-25

Government Advisor: Contracting With International Auditing Firms Is A Key Step To Modernizing The Economic Structure
 
Economy   Baghdad - INA - Nassar Al-Hajj  Adviser to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Friday, that contracting with international auditing firms to evaluate the banking sector is a key step  to modernizing the economic structure.

While explaining that these firms are independent and unaffected by pressures and interests, he indicated that this modernization contributes to  strengthening confidence in the Iraqi financial market and reform in this sector, and  encourages a move away from the informal cash economy.

Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
 
"The statements made by Prime Minister Mohammed Shia al-Sudani during his recent important meeting with the chairmen of the boards of directors of private banks in Iraq or their representatives are consistent with the banking reform policy in Iraq, particularly highlighting the importance of contracting with international firms for financial auditing and assessing the status of the banking market in our country.
 
This represents a fundamental step and a foundation towards comprehensively modernizing the economic structure, while
 
simultaneously reflecting a drive to rebuild trust and cohesion within the financial sector in general and the banking market in particular."

He added,  "Prime Minister Mohammed Shia al-Sudani's statements undoubtedly represent reform axes that do not deviate from the principles of the government's approach that state institutions have followed over the past few years.
 
The primary goal of banking reform is to modernize it to align with international standards in governance, compliance, and transparency, particularly in providing confidence and efficiency in the provision of banking services to society with a broad framework of integrity and credibility in banking work."

He noted that  "the Prime Minister's speech focused on the need to encourage investment by ensuring a reliable banking system that supports financial inclusion and efforts to transition to a digital economy, electronic payments, and all digital transactions."

He explained that "the Prime Minister's speech focused on the importance of contracting with international auditing firms to re-evaluate the conditions of banks, both private and government-owned, based on a single premise:
 
ensuring their institutional capabilities to
 
     uncover any financial loopholes in the country's banking system,
     verify the integrity of accounting and administrative procedures within local banks, and
     provide an accurate assessment of the financial suitability of banking institutions.

This supports reform plans with real data to take effective steps to build a long-awaited, integrated and efficient banking system."

He indicated that "these international companies possess advanced auditing expertise and technologies, undoubtedly supported by local competence.

In addition, the international auditing and accounting firms currently undertaking the banking sector evaluation process    
     are independent entities, unaffected by pressures and interests, and
     provide greater credibility to the international community and investors,
which enhances confidence in our country's financial market." He continued,
 
"Prime Minister Mohammed Shia al-Sudani's speech did not depart from the
fundamental principles of financial and banking reform, which are based on
 
     encouraging citizens and companies to deposit funds and
     engage in credit transactions with banks instead of the informal cash economy.
 
This is achieved by creating an attractive investment environment based on transparent and stable banking institutions,
 
with the goal of supporting the private sector with effective loans and financial services.
 
This contributes to creating job opportunities and sustainable development within the aforementioned private sector, which is the true partner of the state in economic progress and prosperity in Iraq."
 
Prime Minister Mohammed Shia al-Sudani chaired a meeting of the heads of the boards of directors of Iraqi banks,
 
during which mechanisms for implementing the banking reform plans prepared by the government were discussed as part of comprehensive reforms of the economic sector.
 
During the meeting, according to an official statement, the Prime Minister emphasized that "all state sectors are linked to the existence of an effective and flexible banking system that relies on modern technologies."

He noted that  "the government has adopted comprehensive plans for banking reform and contracted with private financial auditing companies, including all banks, and has made significant progress in implementation." 

He explained that "the work of the First Rafidain Bank will  launch with a new look and vision, in partnership with specialized and well-known banks."

He pointed to "the   formulation of a clear roadmap to address the conditions of the private banking sector, as a partner in development."

He emphasized the need for cooperation during the next phase to take effective steps in economic reform. 

He pointed to "the state's distancing from detailed intervention in sectors and assuming a regulatory role," indicating  efforts to
 
     "engage the private sector and foreign companies in all mega-projects, as well as
     support local productive sectors and
     absorb the imported cash flow."
     Providing domestic goods and services to citizens as an alternative to imports and
     ensuring support for local investment.
 
The Prime Minister directed "banks to
 
     simplify procedures and
     participate broadly in the development process, as well as to
     participate as investors in all available opportunities,
     move toward partnerships with foreign companies, and
     work to build trust with citizens,
 
which will help ensure they feel confident depositing their money in banks."    
  
https://www.ina.iq/233881--.html  

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25

Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25

Good morning Dinar Recaps,

XRP BECOMES FIRST REGULATED CRYPTO IN THE U.S. AFTER RIPPLE-SEC SETTLEMENT

▪️__Ripple settles with the SEC, paying a reduced $50 million fine.__
▪️__The SEC acknowledges XRP is not a security on public exchanges, making it uniquely regulated in the US.__
▪️__This clarity is expected to boost XRP adoption and allow Ripple to focus on global expansion.__

The long-running Ripple vs. SEC battle has finally reached a conclusion, and the outcome could reshape the crypto industry.

Ripple Labs has agreed to settle with the U.S. Securities and Exchange Commission, ending a legal fight that has lasted for years. As part of the settlement, Ripple will pay a reduced fine of $50 million. But the real headline is this: the SEC has officially acknowledged that XRP is not a security when traded on public exchanges.

XRP is now the only cryptocurrency with clear legal recognition in the United States. And that could open the door to serious institutional adoption.

Ripple Cuts Deal, SEC Walks Back Without Admitting Defeat
Originally, Ripple was ordered to pay a $125 million fine. But under the new agreement, the company will pay just $50 million, with $75 million being returned. Ripple and the SEC will ask the court to lift the previous injunction, closing the case and canceling any ongoing appeals.

The SEC made it clear in its statement that settling the case doesn’t mean it was wrong in its approach. Instead, it says this move reflects a shift in how it plans to handle crypto regulation going forward.

It also stressed that this settlement applies only to Ripple and won’t affect other enforcement actions in the crypto space.

Regulatory Attitudes Are Starting to Shift
Italian crypto expert Fabio Zuccara believes the U.S. government’s approach to crypto is becoming more constructive. He said the Biden administration, once viewed as destructive to the industry, now seems to be taking a more balanced approach.

Zuccara also pointed out that several crypto-related lawsuits have recently been dropped, further suggesting a change in direction from regulators.

XRP Trading Volume and Price Surge
The news has caused a major surge in XRP trading activity. The daily trading volume spiked from $1.2 billion to $4.2 billion, and the price climbed rapidly:

• May 1: $2.19

• May 8: $2.32 (9.5% daily jump)

• May 10: $2.37 (2.4% 24-hour surge)

In total, XRP has gained nearly 11.92% since May 8, and is up 7.6% over the last seven days.

What’s Next for XRP and Ripple?
Zuccara states that XRP now holds a unique advantage as the only crypto with legal clarity in the U.S. — a factor that may boost institutional investment and corporate adoption.

With the lawsuit behind them, Ripple is expected to resume global expansion, focusing on cross-border payments and liquidity solutions using XRP.

Earlier reports suggested the legal fight had distracted Ripple from its core business operations, but the company can now refocus on innovation and growth.

Institutional Interest in XRP Grows
Ripple’s legal clarity is already paying off. Recently, CFTC-regulated XRP futures products were launched in the U.S., signaling increased institutional confidence in the digital asset.

Conclusion
The Ripple-SEC settlement marks a historic turning point in U.S. crypto regulation. With XRP now legally recognized and regulated, it opens a new path for other crypto firms seeking similar clarity. As regulatory uncertainty fades, Ripple is poised for global growth, and XRP may emerge as the go-to digital asset for institutions and enterprises alike.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

SAUDI ARABIA ESCHEWS FORMAL BRICS MEMBERSHIP TO AVOID ANTAGONIZING US: REPORT

The nation of Saudi Arabia is reportedly forgoing formal membership in the intercontinental economic alliance BRICS as a means of avoiding antagonizing the US.

According to a new report by Reuters, two anonymous sources familiar with the matter say that Saudi Arabia – which was invited to BRICS in 2023 – is holding off on formally joining the alliance despite joining one of their meetings in Brazil last week and being listed as a member on the group’s website.

The inclusion of Saudi Arabia in BRICS is a diplomatically sensitive issue, and the nation has refrained from formally joining the economic bloc as it did not want to anger the US and President Trump.

BRICS – which officially formed in 2009 – is an alliance between Brazil, Russia, India, China, South Africa and other countries as a means of countering Western economic dominance. In 2024, it expanded to include other nations, such as Iran, Egypt, Ethiopia, and the United Arab Emirates.

Saudi Arabia’s hesitancy to join is due to it being caught between China, its biggest exporter of oil, and the US, its security and technology partner. The US is poised to offer Saudi Arabia a $100 billion arms deal.

Last December, Trump threatened to raise tariffs on all BRICS nations to 100% if the alliance committed to creating a new currency or to another currency that would usurp the US dollar.

As stated by Trump at the time:

“The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.”

@ Newshounds News™
Source:  DailyHodl

~~~~~~~~~

  3 NON-BRICS NATIONS HAD PLANNED TO LAUNCH OWN CURRENCY, WHAT HAPPENED?  

 Burkina Faso, Mali, and Niger’s Proposed Currency to Replace Dollar and Franc Fizzles Out

• Initial Ambition: In 2023, Burkina Faso, Mali, and Niger announced plans to launch a new regional currency, seeking independence from the US dollar and the French-backed CFA franc—symbols of their colonial past.

• Aims of the Currency: The initiative was positioned as a sovereignty move, part of broader efforts by the military-led Alliance of Sahel States (AES) to assert autonomy following a string of coups.

• No Follow-Through: Nearly a year later, no concrete updates or progress have been reported. Experts now doubt the viability of the project due to:

• Weak domestic currencies

• Limited institutional capacity

• Low international trust or demand for a new currency

• Rhetoric vs. Reality: Analysts argue the proposal was more symbolic than strategic, noting even larger economies like BRICS have struggled to create a rival currency to the dollar.

Implication: The stalled effort underscores how currency independence is a monumental task, requiring more than political will—especially for nations grappling with economic instability and weak global leverage.

@ Newshounds News™
Source:  Watcher Guru 

~~~~~~~~~

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Thank you Dinar Recaps

Tidbits From TNT” Sunday Morning 5-11-2025

TNT:

Tishwash:  The Parliamentary Legal Committee obliges the government to send budget tables.

Parliamentary Legal Committee member Aref Al-Hamami pointed out that "the government is legally obligated to submit the budget tables as soon as possible to ensure they are passed and voted on in Parliament before the end of the current legislative session."

In a press interview published by Al-Masry on Saturday, May 10, 2025, Al-Hamami warned that “continuing this delay will negatively impact vital projects across various sectors.”

He explained that "the government's delay in sending the budget tables to the House of Representatives constitutes a legal violation that threatens the stability of government work and disrupts the implementation of service and investment projects."

In the same context, he stressed that "any further delay in submitting these schedules could exacerbate the financial crisis and hamper public spending."  link

Tishwash:  CBI: Iraq sees drop in foreign assets, domestic debt

 Iraq's Central Bank (CBI) reported a decline in net foreign assets and a slight decrease in domestic public debt for January 2025, according to new financial data released on Saturday.

The CBI’s monthly bulletin on financial and monetary indicators showed that foreign assets stood at 128.97 trillion IQD ($98.5B) in January, reflecting a 1.41% decrease compared to 130.18 trillion IQD ($99.5B) in December 2024, and a sharper drop from 140.77 trillion IQD ($107.5B) in January 2024.

Meanwhile, Iraq’s domestic debt dropped slightly to 80.4 trillion dinars in January 2025, compared to 80.5 trillion IQD ($61.45B) in December 2024. However, this figure still represents an increase from 73.25 trillion IQD ($55.9B) in January 2024.

“The decrease in domestic debt this January is primarily due to reduced borrowing by the Ministry of Finance,” the report clarified.

Data also showed that treasury bonds and discounted treasury transfers held by the Central Bank remained stable, indicating that the Iraqi government has started repaying part of its financial obligations.  link

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

Tishwash:  The Central Bank of Iraq explains the reasons for the rise of the dinar against the dollar.

The Central Bank Governor explained the reason for the rise of the Iraqi dinar against the dollar.

Deputy Governor of the Central Bank, Ammar Hamad, said in a statement to the official newspaper that "this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade."

He explained that "this policy has enabled the commercial community to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market."

Hamad pointed out that "the Central Bank continues to work towards consolidating the local banking system and raising its operational efficiency to levels that keep pace with international banking standards, making it a fundamental pillar in driving economic development in Iraq."  link

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

Tishwash:  An economist identifies the "most important reason" behind the dollar's decline in Iraq.

 Economist Nabil Al-Marsoumi said on Friday (May 9, 2025) that progress in the Iranian-American negotiations is the most important reason behind the rise in the exchange rate of the Iraqi dinar against the dollar.

Al-Marsoumi said in an analysis published and followed by Baghdad Today: "Although the rise in the dinar's exchange rate against the dollar is linked to many factors, I believe the most important reason is the progress in the Iranian-American negotiations."

He added, "If the negotiations lead to an agreement between Iran and the US, the exchange rate of the dollar against the dinar on the parallel market will be very close to the official rate between them."

The Iraqi dinar's exchange rate against the dollar has risen relatively over the past few days on the parallel market, while the official market rate has remained stable. The selling price for $100 reached 142,000 dinars.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, said in a press statement that demand for dollars declined for three main reasons: "The Central Bank's success in financing and encouraging small businesses immediately after lifting restrictions, and facilitating travelers' access to dollars via cards and at airports at the official exchange rate."  link

Mot: Mother day plans

Mot and you thought You were busy   duck and ducklings

Iraq Economic News And Points To Ponder Saturday Afternoon 5-10-25

The Central Bank Records A Decline In Net Foreign Assets

Saturday, May 10, 2025, Economics Number of reads: 159 Baghdad / NINA / The Central Bank of Iraq revealed a decrease in its net foreign assets, in addition to a slight decrease in domestic debt for January 2025.

The bank said in a report on financial and monetary indicators in Iraq, today: "The net foreign assets of the Central Bank for January 2025 amounted to 128.97 trillion dinars, a decrease of 1.41% compared to December of last year, which amounted to 130.180 trillion dinars, and a decrease from January of last year, which amounted to 140.77 trillion dinars."

He added: "The domestic public debt for January of this year decreased slightly to reach 80.4 trillion dinars, compared to December of last year, which amounted to 80.5 trillion dinars, and an increase from January of last year, which amounted to 73.25 trillion dinars."

According to the report, "the decline in debt for the month of January of this year is due to the decline in debt owed to the Ministry of Finance," noting that "bonds and discounted treasury transfers have settled at the Central Bank, which means that the government has paid part of its financial obligations." /End   https://ninanews.com/Website/News/Details?key=1225959

Minister Of Finance: ASYCUDA System Implemented In 15 Customs Centers, Increasing Revenues By More Than 59 Billion Dinars

Finance Minister Taif Sami announced that the General Authority of Customs has begun implementing the ASYCUDA customs automation system in 15 customs centers across Iraq, noting a significant increase in customs revenues after the implementation of the system.

Sami explained, in a statement on Saturday, May 10, 2025, that the centers covered include: Air Cargo Customs, Dry Port, Baghdad International Airport Terminal, Grand Welcome Square Customs, Trebil, Safwan, Arar, Middle Umm Qasr, Southern Umm Qasr, Kirkuk Airport, Zurbatiyah, Al-Mundhiriya, Mandali, Al-Sheeb, and Shalamcheh.

She explained that customs revenues before implementing the system amounted to three hundred and seventy-five billion, six hundred and seventy-five million, seven hundred and thirty-two thousand, three hundred and sixty dinars, while after implementation they increased to four hundred and thirty-five billion, four hundred and twenty-one million, six hundred and seventy-two thousand, eight hundred and five dinars, an increase of more than fifty-nine billion dinars.
https://www.radionawa.com/all-detail.aspx?jimare=41810

Basra Crude Records Weekly Gains

Saturday, May 10, 2025, | EconomicNumber of reads: 156   Baghdad / NINA / Basra Heavy and Medium crude oil recorded significant weekly gains of more than 2% with the return of oil prices rising in global markets.

Basra Heavy crude closed in its last session, yesterday, Friday, with an increase of $2.16 to reach $61.16, recording weekly gains of $1.24, equivalent to 2.07%.

Basra Medium crude closed in its last session with an increase of $2.16 as well, reaching $64.31, recording weekly gains of $1.24, or 1.97%.

Global oil prices rose $1.07, or 1.7%, to achieve weekly gains of 4%, or one dollar per barrel, amid expectations that trade talks between the United States and China will be positive for oil, as tariffs at their current maximum levels keep recession risks high. /End https://ninanews.com/Website/News/Details?key=1225887

The International Development Bank Launches The "Arab Tourist Card"

Banks   Economy News – Baghdad   The International Development Bank announced on Saturday the launch of the "Arab Tourist Card," in partnership with the Visit Iraq platform, to facilitate financial transactions for Arab tourists in Iraq.

A statement by the bank, seen by Al-Eqtisad News, stated that "the International Development Bank launched the "Arab Tourist Card" in partnership with the official platform Visit Iraq to facilitate financial transactions for Arab tourists in Iraq."

The statement added that "the launch of the "Arab Tourist Card" in Iraq was carried out in partnership between the International Development Bank and the national platform Visit Iraq to support tourism and enhance digital financial services.

" The statement continued, "the International Development Bank was chosen to exclusively offer the "Arab Tourist Card" in cooperation with the official platform Visit Iraq to support tourism and enhance digital financial services for visitors."  https://economy-news.net/content.php?id=55318

The Dollar Rose Slightly Against The Dinar In Baghdad And Erbil

Economy | 10/05/2025  Mawazine News – Baghdad  The US dollar exchange rate rose on Saturday morning in both Baghdad and Erbil markets.

It rose on the Al-Kifah and Al-Harithiya stock exchanges to 142,400 Iraqi dinars for every $100, while last Thursday it recorded 142,000 dinars for every $100.

Selling prices also rose in exchange shops in local markets in Baghdad, where the selling price reached 143,500 Iraqi dinars for every $100, and the buying price reached 141,500 dinars for every $100.

In Erbil, the dollar also rose, where the selling price reached 142,550 dinars for every $100, and the buying price reached 142,200 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261245

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