MilitiaMan and Crew: Iraq Dinar News Update-Confidence-Stability-Exchange Rate-Purchasing Power-Cyber Security-Media

MilitiaMan and Crew:  Iraq Dinar News Update-Confidence-Stability-Exchange Rate-Purchasing Power-Cyber Security-Media

5-22-2025

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

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

https://www.youtube.com/watch?v=iymce2o9XaM

Iraq Economic News And Points To Ponder Thursday Afternoon 5-22-25

Central Bank: A Comprehensive Five-Pronged Plan To Combat Money Laundering

Banks  Economy News – Baghdad  The Central Bank announced on Thursday that it has put in place preventative measures to combat money laundering across various sectors, while noting that there is international cooperation at the strategic level involving international organizations.

Hussein Ali, Deputy Director General of the Central Bank's Anti-Money Laundering and Combating the Financing of Terrorism Office, said, "The crime of money laundering is linked to the extent of the predicate crime being committed domestically, as well as to the extent of preventative measures taken by the state."

He explained that, "Based on a comprehensive assessment of the anti-money laundering and counter-terrorism financing system, weaknesses in this system were identified, where they are being exploited, which sectors are being exploited in money laundering, and which predicate crimes are most commonly committed."

He added, "After identifying these crimes and the points where money laundering occurs, mitigating measures were put in place to address the risks of money laundering through these sectors."

He continued, "Easing measures have been put in place in the real estate sector, with real estate sales being conducted through the banking sector. Special measures have also been put in place in the gold sector, with financial institutions enforcing stricter controls on gold transfers."

He pointed out that "electronic cards, which were exploited by some unscrupulous individuals for foreign withdrawals, were used to benefit from the exchange rate or to move illegal funds. This phenomenon has been curbed and mitigated by establishing controls and updating the limits on these cards so that they are no longer useful to those who make foreign withdrawals."

He emphasized that "all these treatments are based on a real evaluation process with very precise results, which helped ensure that the treatments were specific and focused."

He noted that "the Anti-Money Laundering Law addresses all these sectors, and there are international and national studies that identify new trends pursued by money launderers. Every time a new method is added, countries implement preventative measures for it."

He explained that "one of the methods also includes registering fake companies, and there are procedures in place for this in cooperation with the Companies Registration Department, including the process of identifying the real beneficiary of these companies, which is a very important matter to prevent the use of front companies for these companies."

He pointed out that "the Iraqi state took appropriate measures, and even when it was evaluated by the Financial Action Task Force, the evaluation result regarding the beneficial owner issue was appropriate for Iraq's situation."

He pointed out that "all measures taken are based on a risk-based approach, so that when there are risks, measures are taken to address them, while private transactions involving citizens are not complicated."

He emphasized that "all countries in the world cooperate in the field of combating money laundering through multiple channels, and in the Anti-Money Laundering Office we have counterpart offices called counterpart units."

He explained that "information is exchanged with these units without any conditions, and without the involvement of diplomatic bodies such as the Ministry of Foreign Affairs or the intelligence service."

He stated that "there is international cooperation at the strategic level through reports and through our participation in relevant international organizations," noting that "regarding our work, we conduct an investigation, and after completing the file, it is referred to the judiciary, and we say that this person carried out a money laundering operation, and took out the funds of such-and-such state, and this money reached such-and-such a value, and is present in such-and-such accounts, and after that, there is official judicial cooperation from one judiciary to another for the purpose of seizing and confiscating the funds."  https://economy-news.net/content.php?id=55722

The Association Of Private Banks Holds A Specialized Workshop On "Control Guidelines For Internal Assessment Of Capital Adequacy Standards"

Advisor to the Association of Banks, Samir Al-Nusairi  Banks  Economy News – Baghdad  The Iraqi Private Banks Association held a specialized workshop on the subject of regulatory controls for the internal assessment of capital adequacy standards.

The seminar hosted representatives of the Central Bank, including the relevant managers of the Banking Supervision Department at the Central Bank, and was attended by representatives of all commercial and Islamic banks, including the directors of risk, compliance, credit, internal and financial audit, and members of the boards of directors who are members of the Risk Committee.

The workshop was moderated by the Association of Banks' advisor, Samir Al-Nusairi, who spoke about the objectives of regulatory standards for capital adequacy in accordance with the requirements of the Basel Committee's second pillar to secure a capital buffer to mitigate risks. He emphasized the need to strengthen and improve corporate governance in banks based on the Environmental and Social Standards Guide issued in 2024.

He pointed out that the comprehensive banking reform project, which the Central Bank is working to implement in cooperation with the global consulting firm Oliver Wyman, is sponsored and supported by the government.

Central Bank representatives Ali Abdul Aziz and Hussein Reda spoke about the details of the regulations and tasks required of banks, as well as the procedures and timelines required to implement the regulations over the coming year.

The attendees discussed the regulations and observations that required clarification and answers from the Central Bank. These were answered by Central Bank representatives. At the conclusion of the workshop, it was decided to form a permanent joint working group between the Central Bank and the banks to follow up on implementation and address any obstacles that may hinder implementation.

Specialized workshops and training courses will also be held for relevant leadership cadres on the boards of directors and executive management at banks to ensure accurate implementation and application of the regulations.   https://economy-news.net/content.php?id=55727

Rafidain: Extension Of The Period For The Sale Of National Bonds - The Third Issue

Economy | 05:40 - 05/22/2025  Mawazine News – Baghdad Rafidain Bank announced today, Thursday, the extension of the sale period of the third national bond issue until June 3, 2025, in response to the growing demand from citizens for this type of financial instrument, and in accordance with the directives of the Ministry of Finance and the Central Bank of Iraq.

The bank explained in an official statement that this extension comes within the framework of supporting the culture of national savings and encouraging safe investment, in addition to contributing to financing economic development projects within the country.

The statement indicated that two types of bonds are available to investors:

• First bond:
• Nominal value: 500,000 Iraqi dinars
• Annual interest: 8%
• Investment period: two years
• Payment mechanism: Interest paid semi-annually

• Second bond:
• Nominal value: 1,000,000 Iraqi dinars
• Annual interest: 10%
• Investment period: four years
• Payment mechanism: Interest paid semi-annually

The bank called on citizens wishing to invest their savings in guaranteed instruments with a fixed return to visit the nearest Rafidain Bank branch to take advantage of the available opportunity before the specified period ends.   https://www.mawazin.net/Details.aspx?jimare=261796

The Prime Minister Announces The Launch Of The National Security Strategy (2025-2030)

Thursday, May 22, 2025 15:07 | Umniah Number of reads: 347   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani announced the launch of the National Security Strategy (2025-2030).

According to a statement by his media office, Al-Sudani congratulated the national elite who were appointed from all state institutions to implement this strategy, stressing his serious support for the implementation of this task.

The Prime Minister stressed that the importance of this strategy lies in its protection of the supreme interest of the country, building a diversified and sustainable development economy, and adopting a service system that matches the aspirations of the people.

He said that we all bear the responsibility of building our homeland, protecting it and its sanctities in accordance with a fully sovereign and secure Iraq to achieve stability and development. https://ninanews.com/Website/News/Details?Key=1228435

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 5-22-25

Good Evening Dinar Recaps,

XRP LEDGER BREAKS GROUND WITH ITS FIRST MICA-REGULATED EURO STABLECOIN

Schuman Financial’s EURØP has officially become the first euro-denominated stablecoin to satisfy the European Union’s Markets in Crypto-Assets (MiCA) regime—while launching natively on the XRP Ledger (XRPL).

Launched from Paris on 22 May, this historic development ties MiCA-grade legal certainty to a blockchain that has already processed over 3.3 billion transactions in its 12-year existence.

“EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core,” said Martin Bruncko, founder and CEO of Schuman Financial. “This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain.”

XRP Ledger And Why MiCA Status Matters

MiCA’s stablecoin provisions, which govern e-money tokens (EMTs) like EURØP, came into effect on 30 June 2024. These rules demand:

• Full 1:1 fiat backing

• Daily redeemability

• Bankruptcy-remote reserves

• Authorization by an EU regulator

Schuman Financial is licensed by the French ACPR as an EMT issuer. Its reserves are audited by KPMG and held at Société Générale and other top-tier banks.

While only a few issuers—Circle’s USDC and EURC, Société Générale’s EURCV, and about a dozen niche firms—have cleared MiCA’s high bar, EURØP is the first to do so on the XRP Ledger.

Historically, XRPL’s native DEX, rapid finality, and low fees made it a stronghold for IOU-based fiat tokens. However, EURØP now brings a fully MiCA-compliant euro stablecoin to that ecosystem for the first time.

The Strategic Importance of EURØP

Euro stablecoins currently make up just 0.15% of the $232 billion global stablecoin market—about $338 million as of April 2025. Still, they are now a strategic priority for European banks and fintechs, thanks to MiCA’s passportable legal framework.

For payment firms and corporate treasurers, EURØP delivers:

• Programmable settlement

• Transfers in 3–5 seconds

• Transaction costs of a fraction of a cent

• Full EU regulatory compliance

According to Schuman Financial, EURØP will support:

• DeFi lending pools

• Automated foreign-exchange corridors

• On-chain euro legs for tokenized real-world assets (RWAs)

These use cases align with MiCA’s framework—especially when firms file for a “significant” EMT designation with the European Banking Authority.

“The launch of EURØP on the XRP Ledger demonstrates how stablecoins can meet the high standards set by MiCA while unlocking new possibilities for on-chain payments and RWA tokenization,” said Cassie Craddock, Ripple’s Managing Director for UK & Europe.

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

SENATORS PLAN TO AMEND GENIUS ACT TO ADDRESS TRUMP FAMILY'S STABLECOIN

Senate Democrats, led by Chuck Schumer, Elizabeth Warren, and Jeff Merkley, are preparing to introduce an amendment to the GENIUS Act aimed at blocking U.S. presidents from profiting from stablecoins, in direct response to the Trump family’s involvement in crypto.

On May 20, the Senate voted to advance the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act)—after failing a procedural vote on May 8. The new amendment is designed to add anti-corruption guardrails, especially in light of Trump’s ties to the stablecoin USD1 and the crypto platform World Liberty Financial (WLFI).

“Passing the GENIUS Act without our anti-corruption amendment stamps a Congressional seal of approval on Trump selling access and influence to the highest bidder,” said Senator Jeff Merkley on X (May 22).

Trump Family Crypto Ties Under Fire

Trump and his three sons are linked to World Liberty Financial, which launched the USD1 stablecoin in March. Critics argue that Trump stands to personally benefit from legislation recognizing such stablecoins as official financial instruments.

A $2-billion investment in Binance, funded by an Abu Dhabi-based firm using USD1, could potentially generate profits for the Trump family via transaction fees.

While WLFI co-founder Zach Witkoff dismissed the allegations as “flawed,” Democratic lawmakers have called for investigations into these potential conflicts of interest.

More Than Just Stablecoins: The Memecoin Dinner Backlash

Democrats also took aim at a separate controversy: a private dinner hosted by Trump at his golf club on May 22 for up to 220 top holders of his personal memecoin.

• Senators Merkley and Warren, alongside Senator Chris Murphy and Public Citizen, held a press conference and are demanding Trump release the dinner guest list.

• Progressive advocacy group Our Revolution joined Public Citizen in protesting the event.

 “What is happening tonight — this private, secret dinner — in which individuals who have put money in Donald Trump’s pocket, get access to him, is maybe the most corrupt of all the corruption,” said Senator Chris Murphy.

Murphy further alleged the attendees could be buying access to influence national security policy—especially as many of them remain anonymous and some are reportedly foreign nationals.

📝 The proposed amendment to the GENIUS Act represents a major push to regulate not only stablecoins but also potential political conflicts arising from crypto adoption at the highest levels of U.S. government.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-22-25

Good Afternoon Dinar Recaps,

BRICS: STANDARD CHARTERED, DEUTSCHE BANK PREDICT US DOLLAR’S FUTURE

Amid the ongoing BRICS de-dollarization agenda, global leading banks Standard Chartered and Deutsche Bank have provided the latest insights on the US dollar’s future prospects.

The two banks remain bearish on the greenback due to various macroeconomic factors. These trillion-dollar institutions are now questioning the profitability of US-backed financial assets on a global scale.

The US-backed assets, especially the dollar, which was once the bedrock of all global finances, is slowly drifting away after BRICS kick-started the de-dollarization initiative, and Standard Chartered and Deutsche Bank are taking notice of the drastic changes that have occurred in the markets since three years ago.

BRICS: The US Dollar’s Future Is in Danger, Say Standard Chartered & Deutsche Bank

Standard Chartered and Deutsche Bank wrote in their latest report that the US dollar is in danger, not just from BRICS, but from everyone.

“The dollar weakness story is not over,” wrote Standard Chartered Global FX head Steve Englander. The strategist explained that the new trade policies have caused a long-term strain, eroding confidence in the White House.

Following Standard Chartered’s warning, Deutsche Bank wrote that the US dollar would face trouble not only from BRICS but from within.

Deutsche Bank analysts warned that Trump’s tax-cut bill would add $3 trillion to $5 trillion to the nation’s fiscal debt. This projection estimates that the extended debt could be added over the years.

As of May 2025, America’s debt stands at $36.2 trillion and is spiraling out of control.

“The combination of diminished appetite to buy US assets (from BRICS and others) and the rigidity of a fiscal process that locks in very high deficits is what is making the market very nervous (on the dollar),” wrote George Saravelos, Global Head of FX Research at Deutsche Bank.

Therefore, both Standard Chartered and Deutsche Bank are bearish on the prospects of the US dollar, as global demand weakens and fiscal instability intensifies.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

US LAWMAKER INTRODUCES ANTI-CORRUPTION BILL AHEAD OF TRUMP'S DINNER

Donald Trump is preparing to host up to 220 people at his golf club, with access tied to his memecoin purchases.

California Representative Maxine Waters, ranking member of the US House Financial Services Committee, has announced plans to introduce legislation “to block [Donald] Trump’s memecoin and stop his crypto corruption.”

In a May 22 notice, Waters said the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act of 2025 bill would be aimed at blocking the US president, vice president, members of Congress, and their families from engaging in “crypto crime.”

The US lawmaker referred to Trump and his wife, Melania, issuing personal memecoins in January, his family launching a stablecoin, USD1, through the crypto platform World Liberty Financial, and the president attempting to establish a national Bitcoin reserve as his sons back a BTC mining venture.

“Donald Trump is preparing to dine with the top donors of his memecoin who’ve made him, and his family, richer,” said Waters, adding:

“Trump’s crypto con is not just a scam to target investors. It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”

Waters’ bill was one of many actions announced to oppose the president’s dinner to reward memecoin holders. Senators Chris Murphy and Elizabeth Warren are expected to attend a press event with representatives for the consumer advocacy group Public Citizen, and two Democratic organizations are set to protest at the Trump National Golf Club outside Washington, DC, where the memecoin dinner will be held.

Majority of participants have stayed anonymous ahead of dinner

The number and names of attendees to the May 22 dinner were still largely unknown, but several revealed their intentions through social media and news outlets to apply for background checks and meet the president.

Bloomberg reported that more than half of the participants eligible for the dinner and “VIP Tour” — a separate experience limited to the top 25 memecoin holders — were likely foreign nationals.

Among those claiming to attend included:

• Tron founder Justin Sun

• Hyperithm co-CEO Oh Sangrok

• Kronos Research CIO Vincent Liu

• Synthetix founder Kain Warwick

Sun posted to X on May 21, showing himself appearing to gain access to the Eisenhower Executive Office Building in Washington, DC, part of the White House compound.

Addressing members of the press on May 22, White House Press Secretary Karoline Leavitt said Trump was attending the dinner “in his personal time.” 

She denied that the event would take place at the White House, despite the memecoin project’s website previously stating the top 25 holders would be eligible for a tour of the government building.

Since the launch of the TRUMP memecoin on Jan. 17, many lawmakers and industry figures — including some generally supportive of Trump’s policies — have criticized the project.

In a May 20 article, the Wall Street Journal Editorial Board called on the White House to disclose the names of those attending the dinner, adding that Trump would “help himself by calling off his Thursday gala.”

Two organizations behind the TRUMP token are tied directly to the president and control roughly 80% of the total supply, opening up the potential for a rug pull in the future. In the previous 24 hours, the price of the memecoin has risen more than 11%, to $15.76 from $14.13.

@ Newshounds News™
Source: Cointelegraph 

~~~~~~~~~

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Iraq Economic News And Points To Ponder Thursday Morning 5-22-25

The Governor Of The Central Bank Participates In The First International Conference On Carbon Economics In Iraq.
 
May 21, 2025  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
participated in the first international conference on carbon economics in Iraq,
as a key partner and supporter of combating climate change and reducing carbon emissions.
 
On the sidelines of the conference, His Excellency said in his speech:

The opportunity is ripe to contribute to preserving an environment that has been exhausted by wars and various pollutions,
 
mentioning a group of initiatives taken by the Central Bank of Iraq within a series of innovative solutions and measures that contribute to mitigating direct environmental challenges.
 
Among these solutions, the Central Bank,
in cooperation with the Supreme Committee for Lending in the Council of Ministers,
presented an initiative of (1) trillion dinars,
to
     shift from the use of traditional sources to renewable energy sources,
     reduce carbon emissions, and
     expand green spaces to achieve sustainable development. He added that
 
the Central Bank of Iraq, in cooperation with the World Bank,
worked to develop a green financing model and implement it within the financial sustainability roadmap approved by the Central Bank of Iraq for the period (2023-2029), and
 
one of its outcomes is the development of a sustainable financing roadmap for managing environmental, social, and governance (ESG) risks.
 
Revealing the commencement of granting specialized banking licenses to support climate and environmental conservation through financing green projects,
 
namely Riyada Bank and the Green Bank, and
work is underway to soon integrate these banks into the Iraqi banking ecosystem. He explained that
 
the Central Bank of Iraq has presented important projects, including the
 
     rehabilitation of brick factories to convert from polluting fuel (black oil)
     to cleaner fuel (liquid gas) to reduce carbon emissions,
 
as part of the trillion-dinar initiative, with an amount of 500 million dinars for each factory.
 
Announcing the Central Bank of Iraq's funding of waste recycling projects within the framework of the Renewable Energy Initiative,
 
the project aims to help reduce soil pollution, particularly in sanitary landfills.

This poses a future environmental risk,
impacting the type and quality of soil in housing, agricultural, and other projects.
 
His Excellency concluded by saying that he seeks to cooperate and offer initiatives in this field,
based on his belief in the bank's ability to
 
     create a better environment,
     increase community well-being, and
     overcome the environmental challenges surrounding Iraq.
    
    Central Bank of Iraq    Media Office   May 21, 2025     https://cbi.iq/news/view/2890 

2025 Budget: Government Advisor Outlines Spending Priorities And Plans To Address Trillion-Dollar Deficit

Time: 2025/05/21 Read: 2,430 times  {Economic: Al Furat News} The Prime Minister's financial and economic advisor, Mazhar Mohammed Salih, revealed important details related to the budget for the remainder of 2025 and the impact of global economic variables on the oil market.

In a press statement, Salih confirmed that "Iraq was able to sell its oil until the end of the first quarter of 2025 at an average price of $75 per barrel, which exceeds the price specified in the general budget law of $70."

He pointed to the paradox witnessed by the global oil market, as the OPEC+ group recently lifted its restrictions on member states' production, driven by a decline in global oil inventories. However, this increase coincided with the escalation of the trade war between the United States and China, and the subsequent imposition of customs tariffs, which produced signs of a recession in the global economy.

Salih explained that a 1% decline in economic growth leads to a half-percent decline in demand for crude oil and vice versa, noting that this has created a "downward oil asset cycle."

Regarding the Iraqi general budget for the rest of 2025, Salih indicated that it will operate according to the principle of "fiscal space," which is based on flexibility in controlling public expenditures.

He emphasized that priority in spending will be given to government salaries and wages, pensions, and social welfare, which affect the lives of eight million Iraqis. He also stressed the need to continue Spending on infrastructure projects remains uninterrupted, as they are linked to the government's development and reform agenda.

Saleh noted that the budget includes a hypothetical maximum borrowing limit of 64 trillion Iraqi dinars (about $1.5 trillion) to cover the deficit gap, out of an upper ceiling of 200 trillion dinars. He emphasized that the Ministry of Finance will borrow to finance the project when needed. LINK

Oil Prices Recorded A Slight Decline At Settlement

Wednesday, May 21, 2025 01:15 | Economic Number of reads: 456   Baghdad / NINA / Oil prices recorded a slight decline at the close of trading on Tuesday, due to the uncertainty surrounding the fate of negotiations between the United States and Iran and peace talks between Russia and Ukraine, while new government data presented a cautious outlook for the economy of China, the world's largest importer of crude oil.

Brent crude futures fell 16 cents, or 0.2 percent, to $65.38 a barrel at settlement, and US West Texas Intermediate (WTI) crude futures fell 13 cents, or 0.2 percent, to $62.56 a barrel. https://ninanews.com/Website/News/Details?key=1228151

Gold Prices Rise More Than 1% As The Dollar Continues To Weaken

Wednesday, May 21, 2025 05:14 | Economic Number of reads: 411  Baghdad/ NINA / Gold prices recorded a significant rise of more than 1% on Tuesday, supported by the continued weakness of the dollar amid uncertainty in global markets.

Spot gold rose 1.6% to $3,280.32 per ounce, while US futures rose 1.5% to $3,283.10.

As for other precious metals, platinum jumped 3.8% to $1,035.53, palladium rose 2.7% to $1,001.25, while silver rose 1.3% to $32.78 per ounce. / End https://ninanews.com/Website/News/Details?key=1228155

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 5-22-25

Good Morning Dinar Recaps,

US LAWMAKER REINTRODUCES BILL AMID PUSHBACK ON TRUMP'S CRYPTO TIES

The US president's intention to host a dinner for people who purchased millions of dollars worth of his memecoin has contributed to slowing or halting crypto bills in Congress.

A Democratic representative in the US Congress will support a blockchain bill at a time when many left-leaning lawmakers are blocking crypto-related pieces of legislation due to concerns with President Donald Trump’s potential conflicts of interest.

In a May 21 notice, Minnesota Representative Tom Emmer said he had reintroduced the Blockchain Regulatory Certainty Act, a bill that “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.” Emmer, a Republican, said Democratic Representative Ritchie Torres would co-lead the bill, making it a bipartisan effort in Congress.

“The Blockchain Regulatory Certainty Act reflects a thoughtful, bipartisan effort to get digital asset policy right,” said Torres. “While similar language was voted down in markup last Congress, we took that feedback seriously and returned with a smarter, sharper framework that protects innovation without compromising oversight.”

Representatives of advocacy organizations, including the Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DeFi Education Fund, and Blockchain Association, said they would support the proposed blockchain regulatory bill.

It was unclear whether Emmer and Torres had a majority of votes in the House of Representatives for the legislation to pass.

Torres has supported many bills and policies favorable to the crypto industry since assuming office in 2021. Together with Emmer, he has led the Congressional Crypto Caucus to advance crypto-friendly policies in the House since March.

A Bipartisan Blockchain Bill Amid Memecoin Concerns?

Other Democratic House members, including Representative Maxine Waters, have suggested they intend to block any legislation related to crypto and blockchain until Republicans address Trump’s connections to the industry, such as his family’s stake in World Liberty Financial and his TRUMP memecoin.

The president is planning to host a dinner with up to 220 people holding the most significant amounts of his memecoin on May 22.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

MICHIGAN LAWMAKERS PROPOSE FOUR NEW CRYPTO-RELATED BILLS

The new Michigan bills would permit Bitcoin pension investments, bar state CBDC support, and offer tax breaks for crypto mining at oil sites.

▪️ Michigan lawmakers introduced four crypto-related bills, including HB 4510, which would permit public retirement funds to invest in Bitcoin via regulated exchange-traded products.

▪️ HB 4511 seeks to block state support for U.S. central bank digital currencies, banning any licensing, taxation, or official advocacy of CBDCs by state agencies.

▪️ Two companion bills, HB 4512 and HB 4513, promote Bitcoin mining at abandoned oil wells, offering tax breaks to companies that restore environmental sites in exchange for mining rights.

Four new crypto-related bills were introduced in the Michigan House late Wednesday, joining a growing trend of state-level efforts to define the role of digital assets in public policy.

Rep. Bill Schuette’s (R-MI) House Bill 4510 seeks to allow Michigan’s state treasurer to invest retirement funds in crypto, provided they averaged a market cap of at least $250 billion over the previous year and are held through exchange-traded products.

That threshold effectively narrows eligibility to Bitcoin, which soared past $111,000 on Wednesday and set a new all-time high amid renewed institutional interest.

Assets must be held through exchange-traded products issued by registered investment firms, ensuring regulatory oversight, according to HB 4510.

The next measure, House Bill 4511, introduced by Rep. Bryan Posthumus (R-MI), takes aim at the federal government’s push for central bank digital currencies.

The bill proposes a state-level ban on any licensing, taxation, or restriction of digital asset holdings, and outright prohibits state agencies from advocating for a U.S. CBDC.

“An agency or department of this state shall not advocate for or support... the testing, adoption, or implementation of a [CBDC],” the bill reads.

Meanwhile, Rep. Mike McFall (D-MI) introduced two companion bills, HB 4512 and HB 4513, focused on Bitcoin mining and tax reform.

One establishes a “Bitcoin Program,” allowing private firms to plug abandoned oil or gas wells in exchange for temporary rights to mine Bitcoin using residual fuel sources.

The other offers income and corporate tax deductions for revenue earned through such mining efforts, linking crypto directly to environmental remediation.

If passed, the program would be administered by the state’s Supervisor of Wells, who would maintain a public registry of eligible well sites, solicit annual bids, and ensure that participating miners carry financial responsibility for site restoration.

Michigan’s legislative push comes as several U.S. states race to either welcome or restrict crypto adoption.

Just hours earlier, the Texas House passed a bill to create a state-managed Bitcoin reserve, sending it to Governor Greg Abbott’s desk.

The bill would allow the state comptroller to invest in any digital asset with a market cap above $500 billion, currently only Bitcoin.

New Hampshire Governor Kelly Ayotte signed a similar bill into law earlier this month, making her state the first in the country to formally authorize crypto and precious metal investments for public funds.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 5-22-2025

TNT:

Tishwash:  Iraq and France Discuss Boosting Economic Ties

Iraq's Minister of Trade, Dr. Atheer Daoud Al-Ghurairi, met on Tuesday with French Ambassador to Baghdad, Patrick Durel, to explore ways of enhancing bilateral cooperation, particularly in the economic and investment sectors.

Al-Ghurairi emphasised Iraq's commitment to creating an attractive investment environment and highlighted the country's promising opportunities across various sectors. He invited French companies to participate in a "Made in France" exhibition in Iraq and proposed a joint forum for Iraqi and French private sectors to present investment projects and explore partnerships.

The two officials also discussed strengthening cooperation in trade, agriculture, and healthcare.

Ambassador Durel praised Iraq's ongoing economic reforms aimed at improving the business climate. He formally invited Minister Al-Ghurairi to visit France to deepen coordination and expand areas of cooperation.

Both sides agreed to continue joint efforts to broaden business engagements and reinforce economic and commercial relations for the mutual benefit of the two countries.  link

Tishwash:  Minister of Environment: Carbon projects will provide additional income for Iraq and attract international investments.

Environment Minister Helo Al-Askari confirmed on Wednesday that carbon projects will provide additional income for Iraq and attract significant international investments.

“Iraq faces major environmental challenges, including rising temperatures, low rainfall, water scarcity, and declining water levels in rivers and water bodies. This has led to a significant decline in biodiversity and an increase in desertification, which has resulted in the displacement of a number of villagers and rural residents in some areas to other areas, which will cause future problems for the receiving regions in terms of social, political, environmental, and economic aspects,” the Minister of Environment said during the first international conference on carbon economics, which was followed by Al-Masry.

The Minister of Environment explained that "these factors have prompted the Iraqi government to pay attention to the environmental file and related issues. One of the most notable achievements of the government of Prime Minister Mohammed Shia al-Sudani is the establishment of the General Company for Carbon Economics within the Ministry of Environment." He indicated that "this company not only works to issue carbon bonds, but also seeks to implement environmental improvement projects to preserve Iraq's environment."

The Minister affirmed that “Iraq is witnessing an urban, political, economic and social renaissance, and the features of an environmental renaissance have begun to appear, in accordance with the Prime Minister’s directives to maximize and diversify the financial revenues of all ministries. Our ministry, through the efforts of all, has been able to establish the General Company for Carbon Economics and work with relevant national and international bodies to attract international companies to the country for investment, which will contribute to securing an additional source of income for Iraq.”

He pointed out that "the ministry has achieved a major accomplishment through the General Company for Carbon Economics, attracting the interest of international companies, including the global specialist company Olefin, which has pledged to invest £2 billion in the first phase of the project."  link

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Tishwash:  Erbil International Fair: A Vital Platform for Attracting Investors

The 15th Erbil International Construction, Electricity, and Energy Exhibition is a key meeting point for investors and owners of industrial and commercial companies from inside and outside Iraq, reflecting the vitality of the industrial and commercial sector in the region and the country as a whole. The exhibition, which will run for several days, features more than 250 local, Arab, and foreign companies specializing in construction, equipment, and building materials, providing a great opportunity to exchange expertise and establish new partnerships that enhance investment opportunities and economic development.

The exhibition's general manager, Kuran Saad Abdullah, told Al-Sabah that the local government in the Kurdistan Region attaches great importance to the exhibition and is working in coordination with relevant government ministries and directorates to support its activities. The exhibition has attracted wide participation from 16 Arab and foreign countries, including 34 specialized Chinese companies, which reinforces the exhibition's importance as a regional and international center for trade and industry.

The exhibition provides an integrated platform that brings together specialists in the fields of infrastructure, housing, and various investment projects. Participating companies showcase the latest products, services, and advanced technologies that meet the demands of the local and regional markets.

Abdullah pointed out that the exhibition's activities include a global trade conference, which will include extensive discussions on opportunities and challenges in the industrial and investment sectors, with the attendance of senior government officials, diplomats, and relevant authorities.

He explained that entry to the exhibition is limited to companies, investors, and specialized visitors via a barcode system, and will be open from 10:00 a.m. to 7:00 p.m. The exhibition will continue until tomorrow, Friday, allowing those interested in building business relationships and strengthening their presence in the market.  link

Mot: and - Now You Know the Rest of the Story!!! 

Mot:  Sure Hopes We RV before someone Catches on !!!!  

Iraq Economic News And Points To Ponder Wednesday Afternoon 5-21-25

Iraq Facing Economic Challenges: IMF's Vision for 2025?

Bassam Raad  The International Monetary Fund (IMF) issued a concluding statement on May 15, 2025, addressing the economic situation in Iraq, highlighting the economic challenges facing the country and presenting a roadmap for urgent reforms aimed at achieving financial stability.

Current Economic Challenges: The Iraqi economy faces complex challenges ranging from slowing global growth, Trump's trade wars, accelerating global inflation, and declining oil prices, the primary source of revenue. Expansion in government spending (employment sector) is also widening the fiscal deficit and exacerbating the risk of reliance on oil as the primary source of revenue.

The challenges are not limited to public finances alone, but also include deteriorating infrastructure, a weak private sector, and a lack of investment in non-oil sectors. This is in addition to the fiscal deficit rising to 4.2% of GDP and a significant decline in the current account surplus.

This decline is a critical indicator that must be carefully considered, given that the current account is an important indicator of the health of the country's overall economy.

Outlook for 2025: The Fund expects economic growth to remain weak this year, with non-oil GDP slowing to 1%. The current account is also expected to deteriorate further, impacting foreign exchange reserves, which reached $100 billion at the end of 2024, covering more than a month of imports.

The future of the Iraqi economy: The International Monetary Fund believes that the future of the Iraqi economy depends largely on the government's ability to implement structural and financial reforms. Iraq possesses significant potential for economic growth, but realizing this potential requires taking concrete steps to implement a set of reforms proposed by the Fund.

The IMF statement emphasized the importance of cooperation between the Iraqi government and the IMF to implement these proposed reforms, which would contribute to improving the country's economic conditions.

 In conclusion, the IMF's vision is not merely recommendations, but rather an opportunity to redirect the Iraqi economy toward sustainability through strategic planning and effective implementation of the proposed economic and financial reforms.  https://economy-news.net/content.php?id=55676

 Stock Exchange  Economy News – Baghdad  The Exchange Rate Of The US Dollar Rose Against The Iraqi Dinar, This Wednesday Morning, In Baghdad Markets.

The dollar exchange rate rose on Baghdad's two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,700 dinars per $100. On Tuesday, it reached 142,450 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets rose, reaching 143,750 dinars for $100, and 141,750 dinars for $100.   https://economy-news.net/content.php?id=55670

The Permanent Council For Private Sector Development Is Examining Mechanisms To Enhance Its Role In The Iraqi Economy

Wednesday, May 21, 2025, 10:58 PM | Economic Number of reads: 149  Baghdad / NINA / The Permanent Council for Private Sector Development held its second consultative session on Wednesday evening at the Ministry of Planning. To discuss and follow up on the recommendations arising from the first meeting of the Council, including its working mechanisms and pivotal role in serving development in the country.

The Second Deputy of the Council, Abdullah Saleh Al-Jubouri, said that this is the second session, which is very important to establish work mechanisms and define the role of the Council by involving the Ministerial Council for Economy and the Council of Ministers and Representatives in correcting, amending and arranging everything related to the private sector in all its sectors, which represent (19) important sectors and include all economic activities carried out by the state.

Al-Jubouri stressed the need to develop the role of the private sector to lift a large burden off the shoulders of the rentier state, by having the private sector assume the responsibility of managing the wheel of the Iraqi economy at the present time to get out of the circle of the rentier state and seek to provide great job opportunities for various segments of society to achieve the development of the country.

For his part, the Prime Minister's Advisor, Dr. Hamoudi Abbas Al-Lami, explained: This session came to discuss issues related to the private sector and work on formulating and crystallizing them in order to present them to the Prime Minister.

Thus, transforming them into decisions that support this sector, which represents the solution to all problems, including providing job opportunities and addressing financial problems resulting from fluctuating oil prices and other issues that all countries are experiencing as a result of military and political developments and regional conflicts.

For his part, the Director General of the Department of Economic and Financial Policies at the Ministry of Planning, Dr. Sabah Jundi Mansour, indicated that the Council represents a vital platform for strengthening partnerships between the public and private sectors. He stressed that this partnership is an urgent necessity to drive sustainable economic development in Iraq and open new horizons for investment.

He stressed the need for our recommendations and decisions to be implementable and serve the country's development goals, thus promoting and developing the private sector.

The session, which was attended by the Secretary-General of the Council, Muhammad Al-Har, witnessed the participants presenting specialized sectoral papers that addressed the challenges and opportunities for developing the private sector in various fields, praising the role of the Ministry of Planning, its great support for the private sector, and its efforts to provide the best conditions for the Council's work. /End
https://ninanews.com/Website/News/Details?key=1228324

Minister Of Finance: Restructuring Government Banks Represents A Pivotal Step Toward Developing The Banking Sector

Economy | 05/21/2025  Mawazine News – Baghdad  Finance Minister Taif Sami affirmed on Wednesday that the restructuring of government banks represents a pivotal step towards developing the banking sector.

A statement from the ministry received by Mawazine News stated: “Minister of Finance Taif Sami chaired today a joint meeting of the administrations of Rafidain and Rashid Banks and representatives of Ernst & Young Consulting to follow up on the implementation stages of the government banks restructuring project.” The statement added that “the meeting discussed the progress made in reviewing and updating the internal regulations of the two banks in line with governance requirements, in addition to assessing the status of the banks’ foreign branches and ways to develop them and link them to the central administration.”

The statement explained that “the meeting also addressed updating data on credits, deposits, and clean assets, and implementing the comprehensive banking system in an increasing number of branches, in addition to reviewing plans to increase the capital of the two banks, studying the reality of investments, and assessing their financial feasibility.”

It continued, “The meeting also touched on following up on the legal aspects related to the restructuring process and the proposed amendments to the internal regulations to ensure their consistency with applicable banking laws and regulations.”

According to the statement, the minister stressed "the need to accelerate the pace of work and implement requirements according to the specified timetables," noting that "the restructuring of government banks represents a pivotal step toward developing the banking sector and raising its efficiency."

Sami called for "continued coordination between the two banks and the consulting body to ensure the completion of the requirements for institutional and administrative transformation."

https://www.mawazin.net/Details.aspx?jimare=261775

The Central Bank Reveals The Amount Of Its Financing For Clean Energy Projects

Banks   Economy News – Baghdad   The Central Bank of Iraq announced on Wednesday that it has begun granting banking licenses to support climate change, preserve the environment, and finance green projects. It also announced a donation of half a billion dinars to each brick factory to transition to clean energy, and 350 billion dinars to the urban afforestation initiative.

"Central banks are playing an increasing role today in supporting environmental improvement and developing the green economy as part of a global trend toward sustainability and addressing climate challenges," said Ali Al-Alaq, the bank's governor, during the first international conference on carbon economics in Iraq, as monitored by Al-Eqtisad News.

"In recent years, this trend has expanded significantly to include environmental and climate issues due to their impact on the macroeconomy and financial stability."

He added, "Our monetary policy is based on encouraging green financing, providing favorable financing terms for environmental projects, encouraging banks and financial institutions to disclose the discovery of these climate risks and ways to manage them, cooperating with other central banks through networks such as the Financial System Network to exchange knowledge and unify efforts, and integrating environmental risks into the banking sector and measuring their impact."

Al-Alaq continued, "I would like to highlight a number of initiatives undertaken by the Central Bank of Iraq as part of a series of innovative solutions and measures that contribute to mitigating immediate environmental challenges.

These include the Central Bank's presentation, in cooperation with the Higher Committee for Lending in the Council of Ministers, of a one-trillion-dinar initiative to shift from the use of traditional energy sources to renewable energy and reduce carbon emissions to achieve sustainable development."

He pointed out that "the loans granted to environmentally and sustainable projects under this initiative relate to waste recycling. These projects have already been funded, including the management of the palm cultivation project, the Abu Ghar fields in the Samawah desert, and the Green House project."

Al-Alaq explained, "We at the Central Bank have also worked in cooperation with the World Bank to develop a green financing model and adopt it as part of our approved financial sustainability roadmap for the years 2023-2029.

One of its outcomes is the development of a sustainable financing roadmap for managing environmental, social, and governance risks. By implementing these rules and practices, the banking sector will be the first to implement them to ensure that its activities do not harm the environment."

He added, "We have also begun granting specialized banking licenses to support climate action and environmental conservation through financing green projects, and work is underway to integrate these banks into the Iraqi banking ecosystem soon."

He announced that "the Central Bank of Iraq has implemented important projects, including the rehabilitation of brick factories to convert from polluting fuels, such as black oil, to clean fuels, such as liquid gas, to reduce carbon emissions, as these factories constitute a major source of environmental pollution, especially in the capital, Baghdad. We have allocated 500 million dinars for each factory that converts from polluting fuels to clean fuels."

Al-Alaq affirmed, "We also provided support to the Environmental Improvement Fund to combat air pollution, with an amount of one billion dinars, to contribute to the spread of green spaces and reduce polluting emissions.

The Central Bank also financed waste recycling projects within the framework of the Energy Initiative. Work is currently underway within these frameworks and procedures to help reduce soil pollution, especially in sanitary landfill areas, which represent a future environmental risk that will impact the type and quality of soil in housing, agricultural, and other projects."

The Central Bank Governor said, "We have also worked to finance various small agricultural projects within the framework of this bank's initiative, under the 'Afaq' programme, in partnership with the International Labour Organisation, the Iraqi Guarantee Company and private banks.

This funding amounted to approximately three billion dinars, specifically for forcibly displaced communities in the governorates of Nineveh and Dohuk."

He concluded by saying, "We would also like to point out that the Central Bank has donated and contributed approximately 350 billion dinars to the urban afforestation initiative, which contributes to developing the entrances to the governorates with green belts that act as barriers to dust and environmental pollutants and reduce desertification. We hereby declare our full readiness to provide further support in this regard."   https://economy-news.net/content.php?id=55674

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

Final Melt-Up to S&P 8000 - Then an 80 % Crash

David Hunter WARNS: Final Melt-Up to S&P 8000 - Then an 80 % Crash

Wealthion:  5-21-2025

Contrarian macro strategist David Hunter delivers his boldest outlook yet: a final parabolic melt-up in stocks during 2025, capping a 43-year secular bull market, followed by what he calls the biggest deflationary bust since 1929.

In this must-watch interview with James Connor, Hunter predicts the S&P 500 surging to 8000 and the Dow to 55,000 before an 80 % collapse wipes out trillions.

Key points he explains:

Why the Fed is already behind the curve and will soon panic-cut rates

How bearish institutional positioning could fuel the melt-up

Signs we may already be in a recession

Why the coming global bust could dwarf 2008

How a $20 trillion Fed balance-sheet expansion could spark hyperinflation later in the 2030s

Why the next bull market should favor commodities, oil, and precious metals over tech

Also discussed: his targets of $ 20,000 gold, $500 silver, $500 oil, and why traditional index investing may be “dead money” for a generation.

Chapters:

1:12 - Buy the Bounce or Sell the Surge?

3:27 - What Could Propel the S&P to 8 000?

6:31 - Can Markets Soar While the Economy Sinks?

8:40 - Is the Fed Already Behind the Curve?

 11:19 - How Severe Could the Coming Slowdown Be?

16:41 - The Two-Speed Economy: Haves vs Have-Nots

20:47 - Will Unemployment Hit Double Digits?

28:14 - Could GDP Plunge Like 1932 Again?

35:08 - Canada’s Real-Estate Risk & Global Fallout

40:47 - Bubble Fever: Speculation on Steroids

49:47 - The Biggest “If” in Hunter’s Forecast

52:01 - Haircut Inflation & the Commodity Supercycle

 55:05 - Can You Outsmart a Deflationary Bust?

https://www.youtube.com/watch?v=vQS844n8nC4

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 5-21-25

Good Afternoon Dinar Recaps,

XRP NEWS: RIPPLE LAWSUIT IS NOT CLOSED, FORMER SEC LAWYER HINTS ‘BIGGER ISSUE’

▪️ Legal experts clarify Ripple-SEC lawsuit is not over; Judge Torres denied motions due to procedural errors.

▪️ False online claims spark confusion; attorneys warn XRP community to avoid premature conclusions about the case status.

There’s been a lot of chatter online lately about the status of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). While some legal experts following the case closely believe it might take a few more months before a final verdict is reached, misleading claims and rumours continue to spread on social media.

Recently, a user named Altcoin Bale posted on X, claiming that the case was already closed, banks were quietly buying XRP, and retail investors would soon be priced out. But this statement didn’t sit well with pro-XRP attorney Bill Morgan, who has been actively tracking the lawsuit.

Bill quickly responded, saying, “FFS the case is not closed, or did you miss the news last week about an unsuccessful motion for an indicative ruling and an Appeal and Cross-appeal in abeyance but not over.”

Another user replied to Bill, saying that the case had hit a procedural snag because both Ripple and the SEC submitted a dismissal request using the wrong form. According to them, this technical error led the judge to reject it.

However, former SEC lawyer Marc Fagel stepped in, clarifying that the situation was far more serious than just a simple paperwork issue. “That is not an accurate description at all. It’s a far bigger issue than that,” he commented.

Bill Morgan, expressing his frustration, remarked, “The XRP community don’t want to listen. They want to hear ‘case closed, XRP to the moon.’”

So What Actually Happened?

For the unversed, here’s what actually happened: Judge Analisa Torres denied both parties’ motions for an indicative ruling. In simple terms, the judge stated that if the court’s jurisdiction were restored, she would deny the motion as it was filed under the wrong procedural rule.

This means Ripple and the SEC will likely have to refile the motion correctly, and possibly plead their case once again.

While XRP supporters are eagerly awaiting good news, it’s clear from the legal experts’ comments that the lawsuit is still ongoing — and there are a few more legal hurdles to clear before any final outcome.

@ Newshounds News™
Source:  Coinpedia

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BRICS: US HITS INDIA WHERE IT HURTS THEM THE MOST: REMITTANCE TAX

US President Donald Trump is looking to hit BRICS member India where it hurts them the most — the remittance tax. The new tax proposal by House Republicans could impact a significant number of Non-Resident Indians (NRIs), as the bill aims to levy a 5% tax on remittances sent to India from the US.

The bill was first introduced last Monday, where international transfers from non-citizens to BRICS country India will face a 5% tax. The bill, if passed, will affect workers who send money back to their families in India. The 5% tax will be used to help fund tax breaks and also tighten border security measures.

5% Remittance Tax Could Soon Hit BRICS Member India

Trump has publicly called the legislation “great” and “one big beautiful bill”, and is also ensuring that Republicans pass the legislation. The 5% tax on remittances to BRICS country India will potentially fund billions to the US Treasury.

The latest report highlights that Indian workers send close to $83 billion a year in remittances back to their families in India.

Therefore, a 5% tax could add close to $4.15 billion to the US Treasury if the new bill is passed. Currently, BRICS member India is the world’s top recipient of remittances.

If $100,000 is sent back home, then the IRS gets $5,000 through the remittance tax. Until 2025, remittance was never taxed in the US, making it a first-of-its-kind policy.

Legislation Timeline and Enforcement

The House Republicans aim to pass the bill on Memorial Day, May 26, 2025. Lawmakers hope to get the law signed and roll into action by July 4, Independence Day.

Every financial institution and money transfer service will be tasked to collect the 5% remittance tax for money going to BRICS member India.

The rule will have no limit, and every transfer, including both big and small, will be subject to taxes.

@ Newshounds News™
Source:  Watcher Guru

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Iraq News Posted by Clare at KTFA 5-21-2025

KTFA:

Clare:  Well-known companies show strong interest in Iraq

5/20/2025 - BAGHDAD

The National Investment Commission confirmed on Tuesday that "there is strong interest from well-known companies in Iraq."

"Iraq witnessed a significant influx of foreign investments over the past two years, exceeding $64 billion," said the head of the National Investment Commission, Haider Makiya, to the Iraqi News Agency - INA. 

This figure reflects the success of the investment planning that was completed in 2023. "We began to reap its fruits in 2024 and 2025," he noted.

He highlighted that "most of these investments belong to well-known companies operating directly within Iraq."

"The Prime Minister indicated in the Parliament the size of these investments, which exceed $60 to $63 billion," he pointed out.  LINK

Clare:  By the end of the year, Iraq will launch its first 250-megawatt solar power plant

5/21/2025

Minister Hayan Abdul-Ghani stated on Wednesday that the first solar-powered electricity generation plant in Iraq will be inaugurated by the end of 2025, stressing the ministry's commitment to implementing projects to stop the burning of associated gas and the resulting thermal emissions.

This came in a speech he delivered during the first international conference on carbon economics in Iraq, which was attended by a Shafaq News Agency correspondent in the capital, Baghdad.

In his speech, the minister said, "Iraq has realized the magnitude of the global climate challenge and the rapid economic and technological changes that are imposing themselves on the energy landscape."

He added, "Carbon emission reduction can be transformed into a real opportunity to attract financing and investment, and develop technology through carbon market mechanisms and carbon bonds." He added, "We have already taken steps in this direction, including paving the way for associated gas movement projects, achieving routine flaring by 2029, and preparing projects for carbon emission opportunities, through openness to international markets and bilateral cooperation with international partners."

Abdul Ghani also indicated that "the first solar-powered electricity generation station, with a capacity of 250 megawatts, will be inaugurated by the end of this year."

He continued, "We view carbon as an economic opportunity that can be transformed from an environmental tax into a financial economy through carbon investment, which will contribute to financing strategic projects without burdening the state's general budget."

The Oil Minister considered that "this conference represents an important link in the chain of national efforts aimed at building a low-carbon economy, enhancing Iraq's readiness to lead the way in climate leadership mechanisms in line with our commitments to the Paris Climate Agreement, and setting our ambitions to diversify sources of income."

He explained, "Under this agreement, Iraq was committed to reducing emissions by 2% by 2023, but we, the Ministry of Oil, were able to achieve more than this percentage with the first project implemented in Basra Governorate through the implementation of the first phase."

Abdul Ghani continued, "There are projects signed by the Ministry of Oil with several companies aimed at stopping gas flaring. Through these projects being implemented, greenhouse gas emissions will be reduced by more than 23%. This is almost ten times what Iraq committed to at the Paris Conference." LINK

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Clare:  Al-Eidani urges British companies to invest in three areas in Basra

5/21/2025

Basra Governor Asaad Al-Eidani called on British companies on Wednesday to register their businesses in the province, particularly in the water, energy, and infrastructure projects .

Following a meeting with the British Ambassador to Iraq, Irfan Siddiq, Al-Eidani told Shafaq News Agency that "the meeting addressed strengthening the historical relations between the United Kingdom and Iraq, especially Basra Governorate," explaining that "a number of service issues that affect the lives of Basra citizens were discussed, including water, public services, and infrastructure ."

He added, "Basra's environment is now ripe for investment, and we invite British companies to register their businesses in the province and take advantage of the available opportunities, especially given their extensive experience and the trust they have in Basra ."

In turn, the British ambassador told the agency, "This is his first visit to Basra Governorate since assuming his post," expressing his "happiness to visit the city and see its conditions ."

He stressed that "Basra represents the country's economic engine, with many joint projects and initiatives between Britain and Iraq there ."

He added, "We look forward to supporting and following up on these projects, particularly in the water sector, as well as the energy and infrastructure sectors, which are among the priorities and needs of the people of Basra and Iraq in general ."

The ambassador explained that his last visit to Basra was in 2010, and today he noted significant progress in the security situation and stability witnessed in recent years, which encourages British companies to invest in the province and Iraq in general .

In a related development, Al-Eidani discussed with the UAE Ambassador to Iraq, Salem Issa Al-Zaabi, ways to enhance economic and trade cooperation between the province and the UAE, stressing the presence of promising opportunities that can be built upon in the coming period.

Al-Eidani told Shafaq News Agency, "Basra has deep-rooted historical and cultural ties with the Gulf Arab states, most notably the UAE," noting that "there are many commonalities and opportunities that can be leveraged to enhance joint cooperation in a way that serves the interests of both countries and peoples."

For his part, Ambassador Al Zaabi told the agency that he was "very happy with this visit and to see the landmarks and investment opportunities that the governorate offers." He added, "We see great potential for economic, investment, and trade cooperation, and we hope that this visit will mark the beginning of a new phase in relations between the UAE and Iraq, particularly with Basra."  LINK

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Clare:  Minister of Finance: We are working to modernize regulations and enhance transparency and financial discipline.

5/21/2025 - Baghdad

Finance Minister Taif Sami confirmed on Tuesday that the ministry is working to modernize administrative and financial systems and enhance transparency and financial discipline, in line with the priorities of the government program and to consolidate economic stability.

The ministry said in a statement, seen by Al-Eqtisad News, that "Finance Minister Taif Sami received the economic team at the US Embassy in Baghdad to discuss ways of joint cooperation within the FSVC program to enhance economic and financial capabilities in Iraq."

The statement added that "the two sides discussed mechanisms to support the general budget and aspects of technical cooperation between the ministry and the US side in the areas of budget preparation and government accounting, through the program and performance budget implementation mechanism."

The Minister of Finance stressed - according to the statement - "the importance of benefiting from international expertise in supporting ongoing reforms," ​​noting that "the ministry is working to modernize administrative and financial systems, enhance transparency and financial discipline, in line with the priorities of the government program and consolidate economic stability."

The statement continued, "The US team expressed its readiness to provide technical and advisory support, especially in developing tools for preparing program and performance budgets, improving accounting systems, and developing financial information systems."

The statement concluded that "the two parties agreed to continue coordination and organize training workshops for ministry employees in a number of technical specialties, to support the implementation of best practices in public finance management and achieving sustainable development."  LINK

Clare: Iraq Facing Economic Challenges: IMF's Vision for 2025?

5/21/2025

The International Monetary Fund (IMF) issued a concluding statement on May 15, 2025, addressing the economic situation in Iraq, highlighting the economic challenges facing the country and presenting a roadmap for urgent reforms aimed at achieving financial stability.

Current Economic Challenges: The Iraqi economy faces complex challenges ranging from slowing global growth, Trump's trade wars, accelerating global inflation, and declining oil prices, the primary source of revenue. Expansion in government spending (employment sector) is also widening the fiscal deficit and exacerbating the risk of reliance on oil as the primary source of revenue.

The challenges are not limited to public finances alone, but also include deteriorating infrastructure, a weak private sector, and a lack of investment in non-oil sectors. This is in addition to the fiscal deficit rising to 4.2% of GDP and a significant decline in the current account surplus. This decline is a critical indicator that must be carefully considered, given that the current account is an important indicator of the health of the country's overall economy.

Outlook for 2025: The Fund expects economic growth to remain weak this year, with non-oil GDP slowing to 1%. The current account is also expected to deteriorate further, impacting foreign exchange reserves, which reached $100 billion at the end of 2024, covering more than a month of imports.

The future of the Iraqi economy: The International Monetary Fund believes that the future of the Iraqi economy depends largely on the government's ability to implement structural and financial reforms. Iraq possesses significant potential for economic growth, but realizing this potential requires taking concrete steps to implement a set of reforms proposed by the Fund.

The IMF statement emphasized the importance of cooperation between the Iraqi government and the IMF to implement these proposed reforms, which would contribute to improving the country's economic conditions. In conclusion, the IMF's vision is not merely recommendations, but rather an opportunity to redirect the Iraqi economy toward sustainability through strategic planning and effective implementation of the proposed economic and financial reforms.   LINK