Iraq Economic News And Points To Ponder Monday Afternoon 5-26-25

Al-Sudani Chairs A Meeting Of The Supreme Committee For The Re-Evaluation And Re-Formation Of The Boards Of Directors Of State Banks

Monday, May 26, 2025 | Politics Number of reads: 204  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Monday of the Higher Committee for the Re-Evaluation and Re-Formation of the Boards of Directors of Government Banks and the Central Bank of Iraq.

The Prime Minister's Media Office stated: "The meeting approved a set of recommendations, and discussions took place on the topics included in the committee's agenda, which focused on evaluating the performance of the boards of directors of government banks and the Central Bank, as part of reform efforts in the banking and financial sector, and emphasizing the effectiveness of boards of directors, as they constitute a fundamental pillar in the financial and banking reform process."

Al-Sudani stressed the importance of boards of directors taking the initiative in developing strategies and visions that guide the work of government banks, and enhancing the principle of transparency and accountability within them, and the need for these boards to evaluate the challenges and financial risks facing banks, in addition to the importance of strengthening relations with various government agencies and the private sector, which contributes to the implementation of financial and development policies that support the local economy. /End N https://ninanews.com/Website/News/Details?key=1229134

Al-Sudani Directs The Ministry Of Finance To Prepare Budget Tables For Approval

Money and Business  Economy News – Baghdad  The Finance Committee of the House of Representatives revealed on Monday that Prime Minister Mohammed Shia al-Sudani has directed the Ministry of Finance to prepare budget tables in preparation for its approval.

Committee member Moeen Al-Kazemi said, "Last week, Al-Sudani directed the Ministry of Finance to prepare the 2025 budget tables in preparation for its approval by the Council and its submission to Parliament."

Al-Kadhimi added, "The Ministry of Finance prepared the investment side of the budget months ago, amounting to 25 trillion dinars. The Ministry of Finance is currently expected to complete the operational side of the budget, estimated at approximately 115 trillion dinars."

He explained that "the budget tables amount to 140 trillion dinars, which will be sufficient to run the state during the remaining months of the year, including salaries for employees and retirees, social welfare, other aspects, oil extraction costs, and ongoing investment projects."

The Finance Committee member continued: "It has become imperative for the Ministry of Finance to prepare the budget tables, approve them in the Council of Ministers, and submit them to the House of Representatives next June."  https://economy-news.net/content.php?id=55862

Al-Sudani: Bank Boards Of Directors And The Central Bank Are A Fundamental Pillar Of Financial And Banking Reform

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani affirmed on Monday the effectiveness of the boards of directors of government banks and the Central Bank of Iraq, noting that they constitute a fundamental pillar in the financial and banking reform process.

The Prime Minister's media office stated in a statement, seen by Al-Eqtisad News, that "Prime Minister Mohammed Shia al-Sudani chaired the meeting of the Higher Committee for the Re-evaluation and Re-formation of the Boards of Directors of Government Banks and the Central Bank of Iraq."

The statement added that "the meeting approved a set of recommendations, and discussions took place on the topics on the committee's agenda, which focused on evaluating the performance of the boards of directors of government banks and the Central Bank as part of reform efforts in the banking and financial sector, and emphasizing the effectiveness of the boards of directors, as they constitute a fundamental pillar in the financial and banking reform process."

According to the statement, Al-Sudani stressed "the importance of boards of directors taking the lead in developing strategies and visions that guide the work of government banks, and promoting the principles of transparency and accountability within them.

He also stressed the need for these boards to assess the financial challenges and risks facing banks, in addition to the importance of strengthening relations with various government agencies and the private sector, which would contribute to the implementation of financial and development policies that support the local economy."
https://economy-news.net/content.php?id=55864

Al-Sudani: Bank Boards Of Directors And The Central Bank Are A Fundamental Pillar Of Financial And Banking Reform

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani affirmed on Monday the effectiveness of the boards of directors of government banks and the Central Bank of Iraq, noting that they constitute a fundamental pillar in the financial and banking reform process.

The Prime Minister's media office stated in a statement, seen by Al-Eqtisad News, that "Prime Minister Mohammed Shia al-Sudani chaired the meeting of the Higher Committee for the Re-evaluation and Re-formation of the Boards of Directors of Government Banks and the Central Bank of Iraq."

The statement added that "the meeting approved a set of recommendations, and discussions took place on the topics on the committee's agenda, which focused on evaluating the performance of the boards of directors of government banks and the Central Bank as part of reform efforts in the banking and financial sector, and emphasizing the effectiveness of the boards of directors, as they constitute a fundamental pillar in the financial and banking reform process."

According to the statement, Al-Sudani stressed "the importance of boards of directors taking the lead in developing strategies and visions that guide the work of government banks, and promoting the principles of transparency and accountability within them. He also stressed the need for these boards to assess the financial challenges and risks facing banks, in addition to the importance of strengthening relations with various government agencies and the private sector, which would contribute to the implementation of financial and development policies that support the local economy."
https://economy-news.net/content.php?id=55864

In Support Of The Local Economy, Al-Sudani Calls For Strengthening The Principle Of "Transparency" Within Government Banks

Economy | 03:59 - 05/26/2025  Mawazine News – Baghdad  Prime Minister Mohammed Shia Al-Sudani chaired a meeting on Monday of the Higher Committee for the Re-Evaluation and Re-Formation of the Boards of Directors of Government Banks and the Central Bank of Iraq.

A statement from Al-Sudani's office received by Mawazine News stated that "the meeting approved a set of recommendations, and discussions took place on the topics on the committee's agenda, which focused on evaluating the performance of the boards of directors of government banks and the Central Bank, as part of reform efforts in the banking and financial sector, and emphasizing the effectiveness of boards of directors, as they constitute a fundamental pillar in the financial and banking reform process."

He stressed "the importance of boards of directors taking the lead in developing strategies and visions that guide the work of government banks, and enhancing the principle of transparency and accountability within them.

 He also stressed the need for these boards to assess the financial challenges and risks facing banks, in addition to the importance of strengthening relations with various government agencies and the private sector, which contributes to the implementation of financial and development policies that support the local economy."   https://www.mawazin.net/Details.aspx?jimare=261927

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

Bessent Sends a Global Warning, US Currency Crash Begins, and Dire Debt Sell-off Ahead

Bessent Sends a Global Warning, US Currency Crash Begins, and Dire Debt Sell-off Ahead

Sean Foo:  5-25-2025

A cloud of uncertainty hangs over the US economy following a controversial interview with Treasury Secretary Scott Bessent, fueling fears about the future of the dollar and the nation’s financial stability.

 Bessent’s remarks, coupled with the looming possibility of a massive government investment in an ambitious missile defense system, have sent ripples of unease through financial markets.

In a startling revelation during the interview, Secretary Bessent downplayed the potential consequences of a significant USD devaluation. When pressed about the impact on global markets and American citizens, he reportedly stated that such a scenario was “acceptable” and that he held no significant concerns over the potential collapse of US bonds.

These statements have been met with swift condemnation from economists and market analysts. Critics argue that a substantial devaluation of the dollar could trigger runaway inflation, erode purchasing power for American consumers, and destabilize international trade.

The lack of apparent concern regarding US bonds, long considered a safe haven asset, raises serious questions about the Treasury’s long-term economic strategy.

Adding fuel to the fire is the impending debate over funding the “Golden Dome Missile Defense Shield,” a proposed initiative that could cost upwards of a trillion dollars.

The project, characterized by some as a “wild idea,” aims to create a comprehensive, technologically advanced missile defense system covering the entire United States.

While proponents argue that the Golden Dome is crucial for national security in an increasingly volatile world, critics contend that it’s a fiscally irresponsible project that will further burden the already strained US economy.

They question the effectiveness of such a large-scale system and argue that the resources could be better allocated to addressing pressing domestic issues like infrastructure and healthcare.

The coming weeks and months will be critical as Congress debates the Golden Dome proposal and analysts closely scrutinize the Treasury’s monetary policy. The future of the dollar and the stability of the US economy hang in the balance.

It remains to be seen whether Secretary Bessent’s seemingly nonchalant attitude towards devaluation will be vindicated, or whether it will prove to be a costly gamble with the economic wellbeing of the nation. Investors and citizens alike will be watching closely, hoping for clarity and a responsible path forward.

https://youtu.be/-eVYcmWMaNU

Iraq Economic News And Points To Ponder Monday Morning 5-26-25

No Seriousness In Limiting The Acquisition Of Dollar Remittances." Parliamentary Action Against The National Bank.
 
Economy     2025-05-24 | 05:05  2,466 views   Alsumaria News – Local  revealed The Parliamentary Finance Committee on Saturday that the  Central Bank of Iraq is not serious about curbing foreign banks' control of including Al-Ahly Bank. dollar remittances, member Finance Committee Hussein Mounes told Sumaria News, "The Iraqi banking system was founded on a very flawed foundation, as
banks are integrated exchanges and therefore do not meet any international standards that qualify them to be correspondent banks."

He explained that  "the Central Bank was not keen on upgrading these banks in order to raise their classification so that they would be qualified to deal with international banks." 

He added,  "The Central Bank resorted to easy solutions, as usual, and did not pursue real strategic solutions, 
such as resorting to regional and foreign banks and
relying on them as they are classified in the currency auction and remittances." He explained that
 
"the Central Bank undertook four rounds of reforms that did not achieve any tangible results in raising the status of our local banks.

Rather, the international sanctions on our banks increased due to the Central Bank's mismanagement." 

He stated that  "the Finance Committee sought to amend the banking law in the hope that Iraqi banks would have a percentage or share with foreign banks operating in Iraq,
in order to raise their efficiency and share in the profits or interest and to present the names of these banks internationally,  but the Central Bank did not respond to the proposals to amend the law."

He explained that  "foreign banks publish their profits on their official pages,  
but there are other invisible profits that come from taking advantage of the exchange rate difference,
which are side transactions that do not appear in the final accounts of banks as financial institutions." 

He explained that  "the committee called for limiting the benefits these banks receive,
but we have not seen any seriousness from the Central Bank in resolving this issue," stressing the
 
"need for a real roadmap to reform the banking system and classify our local banks."  He explained that
 
"the number of banks that control the currency sales and remittance window is five,
the most prominent of which is Al-Ahly, in addition to Kuwaiti and Emirati banks, and
there are Turkish banks that will enter the market soon."      
https://www.alsumaria.tv/news/economy/527389/لا-جدية-للحد-من-الاستحواذ-على-حوالات-الدولار-تحرك-برلماني-تجاه-المصرف    

Joint Statement Of The Central Bank Of Iraq And The Central Bank Of Tunisia
 
May 25, 2025    In the context of strengthening bilateral relations and consolidating cooperation between the Republic of Iraq and the Republic of Tunisia,
 
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq,
met in the Iraqi capital, Baghdad,with His Excellency the Governor of the Central Bank of Tunisia, Mr. Fathi Zuhair Al-Nouri,  on the sidelines of the conference:
 
    “Iraq’s National Strategy for Financial Inclusion 2025-2029: Vision and Diagnosis,” 
organized by the Central Bank of Iraq.

    During the meeting, a memorandum of cooperation and coordination was signed between the Central Bank of Iraq and the Central Bank of Tunisia,
 
expressing both sides' commitment to
 
     developing joint frameworks and
     consolidating the principles of banking integration,
 
in light of the development of economic relations between the two brotherly countries.
 
    The memorandum stipulates enhancing cooperation in several areas, most notably:
 
    • Banking supervision and risk management in line with international standards.
    • Enhancing and expanding the use of electronic payment systems with the aim of supporting financial inclusion.
    • Supervising payment systems and exchanging expertise on developing their technical infrastructure.
    • Exchange of information and expertise in the areas of financial innovation, cybersecurity, and combating money laundering and terrorist financing.
 
    This visit provided an opportunity for both parties to discuss financial issues of mutual interest and explore opportunities for joint cooperation in developing the banking sector's infrastructure,
 
particularly with regard to modernizing and developing electronic payment systems and financial services.
 
This reflects both sides' commitment to
strengthening channels of dialogue and
technical and regulatory cooperation with their counterparts
in the region, the Arab world, and internationally.
 
    Through this partnership, the two sides affirmed their continued efforts to
 
      keep pace with developments in international banking and
     build strategic cooperative relations that contribute to
     achieving financial stability and
     supporting economic growth between the two brotherly countries.    
https://cbi.iq/news/view/2900 

Advisor To The Prime Minister: Providing Small Loans Provides Employment Opportunities Of No Less Than 60%
 
Economy     May 23, 2025, 11:39  Baghdad - INA - Amna Al-Salami  Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Friday, that  providing small loans absorbs and provides employment opportunities of no less than 60%.

He explained that the loans expand the activity of small businesses and increase their contribution to the country's gross domestic product.
 
Advisor to the Prime Minister, Mazhar Mohammed Salih, told the Iraqi News Agency (INA):
 
"Within the framework of administrative reform and combating bureaucracy, which are principles of the government's approach, the factor of
 
simplifying procedures is the first priority in maximizing resource management and economic activity to achieve promising sustainable development in accordance with our country's development goals." He added,
 
"Prime Minister Mohammed Shia al-Sudani's directive to simplify microfinance grants undoubtedly carries significant benefits at both the individual and economic levels, as
 
many microfinance programs target marginalized or emerging groups, such as women and housewives, contributing to their integration into the economy." Saleh explained that
 
"these loans are highly effective financial levers for employment and mobilizing labor market actors, as 

they facilitate the start-up of private projects for young people and skilled craftsmen and women, opening the door to entrepreneurship."

 He noted that they "help generate a stable source of income for individuals and their families, and reduce poverty and unemployment rates by empowering individuals economically.
 
Therefore, these microfinance loans are a cornerstone of the financial inclusion policy and one of its goals of eliminating unemployment and achieving development and income equality as much as possible."

He explained that "loans 

     play a significant role in employment policy and 

     affect the balance of the labor market, by 

     absorbing and providing employment opportunities that constitute no less than 60% of available job opportunities, not to mention their role in 

     raising growth rates in the gross domestic product," noting that
 
"they play a role in expanding the activity of small enterprises, which increases their contribution to the country's gross domestic product."      https://www.ina.iq/234862--60.html    

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

Seeds of Wisdom RV and Economic Updates Monday Morning 5-26-25

Good Morning Dinar Recaps,

PETER SCHIFF WARNS TRUMP’S ‘BIG, BEAUTIFUL BILL’ WILL TRIGGER ECONOMIC COLLAPSE, OBLITERATE THE DOLLAR

Renowned economist and gold advocate Peter Schiff has issued a dire warning about President Donald Trump’s “Big, Beautiful Bill,” calling it a ticking time bomb for the U.S. economy. In a flurry of posts on X (formerly Twitter), Schiff lambasted the legislation as a fiscal disaster that could obliterate the U.S. dollar and trigger a sovereign debt crisis.

“A Fiscal Nuke in Disguise”

Schiff minced no words, labeling the bill as a continuation of the same reckless policies that led to America’s economic decline. He warned that instead of Making America Great Again, the bill could be the "straw that breaks the camel’s back."

“It may usher in a long-overdue dollar & sovereign debt crisis,” Schiff declared.

No Deficit Cuts, Just More Spending

The bill spans 1,116 pages, yet Schiff points out none of them reduce the deficit. In fact, he says the legislation bloats government spending and masks its true cost through accounting gimmicks.

“Only two House Republicans had the courage to vote against this monstrosity,” he wrote. “It’s a total fraud and a betrayal.”

Tax Cuts or Hidden Tax Hike?

Despite Trump touting the bill as a historic tax cut, Schiff says the real cost of government is total spending, not the tax rate.

“This bill increases spending, so it’s a tax hike, not a tax cut,” he stated, predicting rising inflation and interest rates as the eventual burden on taxpayers.

Medicaid Cuts Won’t Stick

Schiff also took aim at the bill’s alleged cuts to Medicaid, calling them a deceptive talking point. He noted the reductions don’t take effect for five years—if ever—and will likely be rolled back under political pressure.

Supporters Push Back

While Schiff is sounding the alarm, backers of the bill argue it brings clarity to tax policy and aims to resolve structural problems inherited from previous administrations. They see it as a roadmap to economic stability—but Schiff warns that stability can’t come from denial and debt

As the political divide over U.S. fiscal policy deepens, Schiff’s warnings add to growing fears that America’s debt-fueled economy is heading toward a breaking point.

@ Newshounds News™
Source:  Bitcoin.com

FYI:  This is exactly what we need to bring in the New Gold-backed Quantum Financial System

~~~~~~~~~

CAN BRICS TOPPLE THE US DOLLAR? BRAZIL CENTRAL BANK DIRECTOR SAYS NOT IN THIS DECADE

Despite rising momentum behind BRICS’ de-dollarization agenda, Brazil’s Central Bank Deputy Governor Nilton David has cast serious doubt on the bloc’s ability to dethrone the U.S. dollar anytime soon. Speaking during a recent webcast, David broke down the myths vs. reality of BRICS’ financial influence—and his conclusion was blunt:

 “No BRICS Asset Strong Enough to Replace the Dollar”

David, who also serves as Director of Monetary Policy, acknowledged BRICS' efforts to promote local currencies in trade, but said the alliance lacks a credible alternative to the greenback.

“There are no stronger BRICS-denominated assets or currencies that can replace the U.S. dollar,” he stated, adding,
“I don’t think that will change over the coming decade.”

Bitcoin? Not the Answer Either

When asked if Bitcoin could disrupt the dollar’s dominance, David dismissed it outright.

“It’s a speculative currency by nature,” he said, emphasizing Brazil’s $340 billion in FX reserves are in dollars because the greenback is far more stable than crypto assets.

BRICS Facing Limitations

While BRICS has made headlines for challenging Western financial hegemony, David said the alliance still lacks the depth, liquidity, and trust required to rival the dollar on a global scale.

“The push for local currency trade is real, but it won’t ‘nail the coffin’ on the dollar,” he noted.

He further questioned whether BRICS could ever serve as a true counterweight to the West, citing financial and structural limitations.

Bottom Line: De-dollarization May Be Inevitable—But It Won’t Be Fast

As speculation grows about a BRICS-led global shift, Brazil’s central bank sees no immediate threat to the U.S. dollar’s supremacy. While alternative trading mechanisms may gain ground, a full-scale dethroning of the greenback appears decades away—if at all.

@ Newshounds News™
Source:  Watcher.Guru

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“Tidbits From TNT” Monday Morning 5-26-2025

TNT:

Tishwash:  The Sudanese Ministry of Finance directs the Ministry of Finance to prepare the budget tables for approval, amounting to 140 trillion dinars.

The Finance Committee of the Iraqi Parliament revealed on Monday that Prime Minister Mohammed Shia al-Sudani directed the Ministry of Finance to prepare budget tables in preparation for its approval.

Committee member Moeen Al-Kadhimi told Shafaq News Agency, "Last week, Al-Sudani directed the Ministry of Finance to prepare the 2025 budget schedules in preparation for its approval by the Council and sending it to Parliament." 

Al-Kadhimi added, "The Ministry of Finance prepared the investment side of the budget months ago, amounting to 25 trillion dinars. The Ministry of Finance is currently expected to complete the operational side of the budget, estimated at approximately 115 trillion dinars."

He explained that "the budget tables amount to 140 trillion dinars, which will be sufficient to run the state during the remaining months of the year, including salaries for employees and retirees, social welfare, other aspects, oil extraction costs, and ongoing investment projects."

The Finance Committee member continued: "It has become imperative for the Ministry of Finance to prepare the budget tables, approve them in the Council of Ministers, and submit them to the House of Representatives next June."  link

Tishwash:  Al-Salami: The government must take urgent action regarding the oil agreements between the region and Washington.

MP Haider Al-Salami called on the federal government on Sunday to take urgent action regarding the agreements concluded by the Kurdistan Regional Government (KRG) with American companies related to the investment of natural resources.

Al-Salami told Al-Maalouma that “Iraq’s natural resources represent a right for all components and spectrums of the Iraqi people, and their investment and extraction are the exclusive prerogative of the federal government.” He explained that “the KRG’s signing of agreements with American companies to invest in oil and gas fields represents a clear violation of the constitution and the Federal Court’s ruling, which affirmed that oil and gas belong to the Iraqi people, and that the management of this sector is the sole responsibility of the federal government.”

He added, “Baghdad must not be satisfied with rejectionist statements, but must take real steps to reconsider its dealings with the KRG and send clear messages to the concerned countries that the Kurdistan Region is part of the Iraqi state and not an independent entity.”

Al-Salami pointed out that "this issue must be taken seriously into consideration, because natural resources belong to all Iraqis, regardless of their ethnicity, sect, or religion, and they must not be invested unilaterally by the region without consulting the federal government."

It is noteworthy that the agreements concluded by the regional government with some American companies in the field of oil and gas investment have sparked widespread political and popular controversy, as they are considered a violation of the constitution and a Federal Court ruling.  link

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

Tishwash:  A strong, diversified, and sustainable economy is a fundamental pillar of the National Security Strategy (2025-2030).

Samir Al-Nusairi

The Prime Minister announced the Iraqi National Security Strategy, with its axes and objectives, designed to ensure security and economic stability, protect Iraq internally and externally, avoid risks, and enhance the country's societal security, stability, sovereignty, and prosperity in all areas.

What concerns us as economists is how to achieve the economic goal of the strategy, which constitutes the basic foundation for building effective economic stability and sustainable development in accordance with Iraq’s economic vision for the years (2025-2030).    

It is important to note that most countries in the world, whether emerging or fragile economies, have national security strategies that rely on plans to build stability and social development for their people. The most prominent of these plans relate to ensuring food security, health security, and livelihood security as basic and systematic priorities for building a safe, stable, and developed society. This is what Iraq's Vision 2030 clearly emphasized and indicated. 

Iraq is currently going through a critical, important, and sensitive phase due to the political, security, and economic circumstances, which can be specifically identified with the fluctuations in global oil prices and the global economic recession. The economic reality, according to official data, also indicates that

The preliminary results of the general population census indicate that Iraq's population has risen to 46 million, while unemployment and poverty rates continue at the overall level. This requires solutions and major efforts to empower youth, reduce unemployment rates, and alleviate poverty in a country that aims to achieve stability in its national security strategy. To implement the plans drawn up to achieve this, we believe that

 Building the foundations of a comprehensive national security strategy, with a focus on the economy, must result in security, stability, and economic development that contribute to societal well-being. It must be effective and implementable under the current circumstances in Iraq. Therefore, many citizens from various levels of government, politics, and economics, as well as university professors, civil society organizations, youth, women, and professionals, must familiarize themselves with the strategy's details, each within their respective fields, and contribute to achieving its objectives.

The magnitude of the economic challenges, both domestically and internationally, and the continued volatility of global oil prices require a firm stance by all governmental, political, and popular bodies, as well as the private sector, to protect Iraq and sustain the building of a strong, diversified, developmental, and sustainable economy, based on realistic realities.

 I believe that the strategy should be a realistic application of the axes of the government program in its economic and security dimensions, and most importantly... 

Legitimate demands to eliminate financial and administrative corruption, address unemployment and poverty, and return Iraqi funds stolen by corrupt people.

The basic economic principles of the national security strategy should be as follows:

1- Building a sound national economy with multiple resources.

2- The private sector plays a pivotal role in leading the market.

3- Providing food, medicine and environmental security for citizens.

4- Ensuring a decent life for the individual and the family.

5- Reforming and developing the financial and banking sector and increasing its contribution to economic development.

6- The state guarantees social justice for citizens.

7- Protecting the spirit of citizenship and community and civil peace.

8- Reforming and developing good governance institutions to provide the best services to citizens.

9- Information security and transparency of economic data and indicators.     link

Mot:  Here are some fun facts about bald eagles

Mot: . There is a Difference!!!! 

MilitiaMan and Crew: Iraq Dinar Update-Central Bank of Iraq-Tunisia-Exchange Rate-FORTUNE-ASEAN-GCC-China-Economic Forums

MilitiaMan and Crew:  Iraq Dinar Update-Central Bank of Iraq-Tunisia-Exchange Rate-FORTUNE-ASEAN-GCC-China-Economic Forums

5-25-2025

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=vPS7ZfH4LHE

Investors have Finally had Enough with $2+ Trillion Deficits

James Hickman: Investors have Finally had Enough with $2+ Trillion Deficits

5-24-2025

Investors have finally had enough with $2+ trillion deficits  

By James Hickman on May 22, 2025

Well, that was fast.

It only took five days after Moody’s downgrade of the US government’s sovereign credit rating for investors to throw a fit. The result was yesterday’s meltdown trifecta in which ALL three major markets– US stocks, US bonds, and the US dollar– lost significant value.

I wrote about this extensively last month because we saw the same phenomenon after the “Liberation Day” announcement.

Typically, if there’s bad news in a major developed country, investors will simply shift their money into a different asset class within that same country.

For example, if investors in the US suddenly become concerned that a recession is on the horizon, they’ll pull their money out of the stock market… and then invest that capital into the bond market.

The money remains in the US; it simply moves into a new asset class. So, as a result, stocks decline in value, but bonds increase in value.

But what we saw last month after Liberation Day… and then AGAIN yesterday, is stocks AND bonds both declining simultaneously.

(Remember that bond prices move inversely to yields; so, when bond prices fall, as they did yesterday, it really means that bond yields, i.e. interest rates, are moving higher. More on this below.)

Plus, on top of the stock and bond market routs, the US dollar also took a big hit.

As I explained last month after Liberation Day, this can only mean ONE thing: investors aren’t shifting their money from one US asset class to another. They’re moving their money OUT of the US and into foreign assets.

This is a clear sign that at least some investors are losing confidence in the United States.

And who could blame them? Congress is fiddling while the budget burns. The “One Big Beautiful” tax bill will result in yet another $2 trillion budget deficit.

Trust me, I love tax cuts. Tax cuts are great for the economy. But you can’t just cut taxes without massive spending cuts.

Well, this legislation doesn’t cut spending. In fact, they INCREASED spending… meaning that America’s $36+ trillion debt problem is only going to become worse.

Investors aren’t terribly impressed with that outcome… because they’re the ones who will be asked to finance all that debt and buy trillions of dollars’ worth of US government bonds.

Proof of investors’ dissatisfaction came yesterday when the Treasury Department auctioned off roughly $16 billion worth of 20-year bonds.

This is how the government typically sells its bonds– through an auction process in which various banks and funds place bids. And ordinarily no one ever pays attention to Treasury auctions; they’re about as exciting as airline safety briefings.

But yesterday was different. Investors put their collective foot down and essentially refused to buy the government’s bonds unless the yield increased dramatically.

In the end, the 20-year yield hit 5.125%… which is almost the highest level it’s been since 2007.

The auction became a major signal that investors are very concerned about the US government’s horrific finances. Sure, they’ll still buy bonds. But they will demand much higher interest rates… which is debilitating for the US government.

Remember, the government already spends more money paying interest on the national debt than they do on the US military. And total interest payments this year are expected to reach about $1.2 trillion– more than 20 cents of every tax dollar collected.

Social Security, Medicare, and other mandatory entitlement programs will consume the other 80% of tax revenue… meaning that EVERY discretionary spending program, from the Defense Department to Homeland Security to Border Security, will have to be financed with more debt… at a HIGHER interest rate.

Higher interest rates cause the government’s annual interest bill to be even higher, meaning that the problem will eventually spiral out of control.

Folks, I’m not being pessimistic. It’s just basic arithmetic: there are very few good outcomes when your interest bill and mandatory entitlement spending grow faster than tax revenue.

Lower interest rates would be helpful. And that’s one of the reasons why the White House has been so vocal in demanding the Fed “lower” interest rates.

Problem is– the Fed doesn’t really have the power to cut rates anymore.

In the past, all the Fed Chairman had to do to cut rates was utter a few words; the bond market would click its heels, salute, and dutifully comply. Rates would fall just based on a speech.

That doesn’t happen anymore. If you recall when the Fed supposedly cut rates last year, bond yields actually increased. Essentially, investors are no longer paying attention to the Fed. They don’t care.

The market is now in control of bond yields… NOT the Fed. And certainly not the White House or Treasury Department. And the market does not like what it sees:

– $36 trillion national debt
– $2 trillion annual deficits
– $1.2 trillion annual interest bill
– Congress doing nothing about any of it

Bottom line, investors are fleeing– and not just the bond market. Given the drop in the US dollar yesterday (alongside stocks and bonds), it’s clear that many investors are fleeing the United States entirely and moving their capital elsewhere.

Gold will be a major beneficiary of this trend (along with well-managed gold businesses) simply because foreign governments and central banks need a reliable, liquid asset with minimal counterparty risk to park all the capital they withdraw from the United States.

Gold is one of the few assets that meets these qualifications. And, while nothing goes up or down in an uninterrupted straight line, we continue to believe that there is tremendous upside left in gold… along with silver, platinum, and several other real assets.

Ultimately, though, this is bad news for the US. No one in government seems to want to fix its terminal spending/deficit problem.

And given what happened yesterday, it’s obvious that the market is no longer willing to ignore it.

Source: Schiff Sovereign

https://dinarchronicles.com/2025/05/24/james-hickman-investors-have-finally-had-enough-with-2-trillion-deficits/

Iraq Economic News And Points To Ponder Sunday Afternoon 5-25-25

A Strong, Diversified, And Sustainable Economy Is A Fundamental Pillar Of The National Security Strategy    ( Yrs - 2025-2030 )   

Samir Al-Nusairi   The Prime Minister announced the Iraqi National Security Strategy, with its axes and objectives, designed to ensure security and economic stability, protect Iraq internally and externally, avoid risks, and enhance the country's societal security, stability, sovereignty, and prosperity in all areas.

What concerns us as economists is how to achieve the economic goal of the strategy, which constitutes the basic foundation for building effective economic stability and sustainable development in accordance with Iraq’s economic vision for the years (2025-2030).

It is important to note that most countries in the world, whether emerging or fragile economies, have national security strategies that rely on plans to build stability and social development for their people.

The most prominent of these plans relate to ensuring food security, health security, and livelihood security as basic and systematic priorities for building a safe, stable, and developed society. This is what Iraq's Vision 2030 clearly emphasized and indicated.]

Iraq is currently going through a critical, important, and sensitive phase due to the political, security, and economic circumstances, which can be specifically identified with the fluctuations in global oil prices and the global economic recession.

 The economic reality, according to official data, also indicates that
The preliminary results of the general population census indicate that Iraq's population has risen to 46 million, while unemployment and poverty rates continue at the overall level.

This requires solutions and major efforts to empower youth, reduce unemployment rates, and alleviate poverty in a country that aims to achieve stability in its national security strategy.

To implement the plans drawn up to achieve this, we believe that Building the foundations of a comprehensive national security strategy, with a focus on the economy, must result in security, stability, and economic development that contribute to societal well-being. It must be effective and implementable under the current circumstances in Iraq.

 Therefore, many citizens from various levels of government, politics, and economics, as well as university professors, civil society organizations, youth, women, and professionals, must familiarize themselves with the strategy's details, each within their respective fields, and contribute to achieving its objectives.

The magnitude of the economic challenges, both domestically and internationally, and the continued volatility of global oil prices require a firm stance by all governmental, political, and popular bodies, as well as the private sector, to protect Iraq and sustain the building of a strong, diversified, developmental, and sustainable economy, based on realistic realities.

I believe that the strategy should be a realistic application of the axes of the government program in its economic and security dimensions, and most importantly...

Legitimate demands to eliminate financial and administrative corruption, address unemployment and poverty, and return Iraqi funds stolen by corrupt people.

The basic economic principles of the national security strategy should be as follows:
1- Building a sound national economy with multiple resources.
2- The private sector plays a pivotal role in leading the market.
3- Providing food, medicine and environmental security for citizens.
4- Ensuring a decent life for the individual and the family.
5- Reforming and developing the financial and banking sector and increasing its contribution to economic development.
6- The state guarantees social justice for citizens.
7- Protecting the spirit of citizenship and community and civil peace.
8- Reforming and developing good governance institutions to provide the best services to citizens.
9- Information security and transparency of economic data and indicators.

https://economy-news.net/content.php?id=55809

The Central Bank Launches The First National Strategy For Financial Inclusion

Banks  Economy News – Baghdad  The Central Bank of Iraq announced on Sunday the launch of the first National Financial Inclusion Strategy for the period 2025-2029.

He follows..

36 views  Added 05/25/2025 - 5:18 PM  https://economy-news.net/content.php?id=55824

The Central Bank Of Iraq Launches The First National Strategy For Financial Inclusion.

Time: 2025/05/25 Reading: 675 times    {Economic: Al Furat News} The Central Bank of Iraq launched, today, Sunday, the first national strategy for financial inclusion for the period 2025-2029.

According to a statement by the Central Bank, a copy of which was received by {Euphrates News}, the strategy includes an integrated framework for financial inclusion aimed at enabling all individuals and companies to access the financial sector and use appropriate and safe financial services while protecting their rights, thus contributing to economic and social development.

In his speech, the Governor of the Central Bank, Ali Mohsen Al-Alaq, emphasized that "the Central Bank of Iraq attaches great importance to enhancing financial inclusion in Iraq, in addition to cooperation at the regional, Arab, and international levels.

The Central Bank of Iraq has worked with international partners to develop a financial inclusion strategy in accordance with international best practices, in partnership with the World Bank Group, the Arab Monetary Fund, the Global Financial Inclusion Alliance, and the German Development Cooperation Agency (GIZ), in addition to local partners from public and private bodies and agencies."

He added, "The bank is working to achieve a number of goals, including increasing the number of bank accounts, enhancing consumer protection for those dealing with the financial sector, using the latest electronic payment methods, and developing infrastructure and regulations to promote financial inclusion."   LINK

A "Time Bomb" Threatens The Iraqi Economy.. An Expert Explains (Infographic)

economy | 11:58 - 05/25/2025   Mawazine News - Baghdad -  Economic expert Manar Al-Obaidi warned on Sunday of the risks of the domestic debt, which has exceeded 85 trillion dinars, describing it as a "time bomb" threatening the Iraqi economy.

Al-Obaidi said in a blog post followed by Mawazine News, "It is often promoted that the domestic debt is not dangerous because it is in dinars and does not affect foreign currency reserves, but this claim reflects either ignorance of the reality of the Iraqi economy or an attempt to reassure people with statements far from the truth."

He explained that the government's borrowing from local banks to cover the deficit withdraws liquidity from the market, which means diverting funds that were supposed to finance private sector projects, such as factories, companies, and job opportunities, to mere government salaries and expenditures. He added, "This makes banks merely a fund to cover state expenses."

He pointed out that domestic loans do not always rely on people's savings. Rather, the Central Bank often prints new dinars to finance them, in what is known as "deficit financing," which leads to inflation, rising prices, a decline in the value of the dinar, and directly harms citizens.

Al-Obaidi warned that those who downplay the danger of debt in dinars are ignoring the possibility of a financial crisis even without the influence of the dollar. A government's inability to repay its debts to banks or a loss of confidence in the banking system could lead to a collapse more severe than any monetary crisis.

He emphasized that most countries borrow to build factories, develop education, or stimulate the market, while Iraq borrows to cover salaries and ministry expenses. This debt is devastating to the economy and burdens future generations.

He expressed concern that the domestic debt, which has increased by 13 trillion dinars in just one year, is equivalent to what accumulated in the previous four years, with no known fate or method of repayment. He said, "This debt has not been used to reduce imports, stimulate the private sector, or create productivity, but has been limited to financing government salaries and expenses."

Al-Obaidi concluded his warning by saying, "The domestic debt is not as safe as it is portrayed. Rather, it reflects poor management of public funds and perpetuates a chronic deficit.  

Those who downplay its seriousness are either ignorant of the figures or seeking to mislead public opinion.  It is a fire under the ashes, and if we do not change our spending and management practices, we will face an economic explosion, and we will be powerless to act."  https://www.mawazin.net/Details.aspx?jimare=261890

Minister Of Environment: Iraq Is Making Confident Strides Towards Enhancing Regional And International Cooperation On The Water Issue

Local  Economy News – Baghdad  Environment Minister Helo Al-Askari affirmed on Sunday that Iraq is making confident strides towards enhancing regional and international cooperation on the water issue.

The ministry said in a statement, seen by Al-Eqtisad News, that "the Minister of Environment sent a humanitarian and environmental message to the world during his participation in the Fifth Baghdad International Water Conference, calling for "international cooperation and the spirit of peace over conflict," stressing that "humanity, with all its peoples and organizations, strives for security and stability, far from the language of wars and weapons that have long ravaged the world."

The Minister of Environment added, according to the statement, that "water should not be used as a tool for political pressure or a weapon to punish peoples and nature, but rather must remain a shared resource that promotes peace and contributes to achieving sustainable development, especially since many peoples, including Iraq, bear the burdens of climate change resulting from industrial practices in major countries that continue to violate the laws of nature without deterrence."

He continued, "Instead of using water as a weapon in our political negotiations, let us water trees, flowers, and green spaces with it." This way, we restore balance to nature in the face of rapid population growth.”

He explained that “this environmental approach reflects the essence of the Iraqi government’s vision, which seeks to improve a positive and sustainable political climate, especially with regard to water resource management.”

The Minister explained that “Iraq is making confident strides towards strengthening regional and international cooperation on the water issue, through launching qualitative initiatives, most notably the adoption of sustainable agriculture and the intensification of awareness campaigns to rationalize human, agricultural, and industrial water use.

This is in addition to the regional initiative to protect the Tigris and Euphrates, launched by the Prime Minister during the conference, which aims to achieve water security, environmental balance, and utilize technology and innovation to address climate challenges.” The

Minister continued, “Let us remember that all divine books, including the Holy Quran, consider water a sacred blessing that revives humans, animals, and nature, and represents the basis for the sustainability of life if water is made a means of peace rather than a tool of conflict.”

Al-Askari concluded by emphasizing that “Iraq, by virtue of its geographical location and cultural history, is fully aware of the vital role of water in achieving development, and calls on all countries to unite efforts and adopt a common approach that places people and the environment at the heart of water policies.”   https://economy-news.net/content.php?id=55826

The Dollar Continues To Fall Against The Dinar

Economy | 11:02 - 05/25/2025   Mawazine News – Baghdad   The exchange rate of the dollar fell against the dinar on Sunday morning in the markets of the capital, Baghdad.

The dollar price recorded a decline in the Al-Kifah and Al-Harithiya stock exchanges, recording 141,950 dinars for every $100, while yesterday, Saturday, it recorded 142,100 dinars for every $100.

Selling prices stabilized in exchange shops in the markets of Baghdad, where the selling price reached 143,000 Iraqi dinars for every $100, and the purchase price reached 141,000 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261888

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 5-25-25

Good Afternoon Dinar Recaps,

DUBAI LAND DEPARTMENT LAUNCHES TOKENIZED REAL ESTATE INITIATIVE ON XRP LEDGER

The Dubai Land Department (DLD) has officially launched a landmark initiative in partnership with Ctrl Alt, aimed at transforming real estate investment through blockchain-based tokenization on the XRP Ledger.

Ctrl Alt and DLD Launch Real Estate Tokenization Project

Ctrl Alt has officially launched its tokenization partnership with the Dubai Land Department (DLD) for the Real Estate Tokenization Project, marking a significant step forward in property investment innovation within the Emirate.

This initiative, developed in collaboration with the Virtual Assets Regulatory Authority (VARA) and the Dubai Future Foundation, uses the XRP Ledger to establish a secure and compliant framework for tokenizing real estate title deeds.

Fractional Ownership Through PRYPCO Mint

By enabling fractional ownership, the project allows multiple investors to co-own properties with a minimum investment of AED 2,000 through the PRYPCO Mint platform.

This model opens the door to broader participation, especially for retail and global investors previously excluded by high capital requirements. Blockchain integration ensures that ownership records remain immutable and verifiable, reducing fraud and administrative overhead.

Blockchain Technology to Drive Transparency and Efficiency

The DLD’s implementation of blockchain technology for property registration is designed to enhance transparency, boost investor confidence, and improve operational efficiency in the real estate market.

This technological shift not only aligns with Dubai's forward-looking stance on digital innovation but also supports the creation of a more inclusive and liquid real estate ecosystem.

Economic Impact and Long-Term Vision

The initiative is projected to help build a tokenized real estate market worth AED 60 billion ($16 billion) by 2033, in line with Dubai’s Real Estate Sector Strategy 2033 and the Emirate’s broader economic goals. The move underscores Dubai's ambition to be a global leader in blockchain-powered real estate.

Ctrl Alt CEO Hails the Initiative

Matt Ong, CEO of Ctrl Alt, expressed strong support for the partnership, stating:

“This project has the potential to significantly broaden investor participation and truly modernize the real estate sector. It’s a new chapter for real estate ownership and investment in the region.”

The launch of this initiative signals a broader shift toward digitally-native investment solutions and may serve as a blueprint for other global cities seeking to integrate blockchain into traditional asset markets.

@ Newshounds News™
Source:  Bitcoin.com

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EUROPE’S LARGEST BANK HSBC LAUNCHES FIRST-EVER CRYPTO SETTLEMENT SERVICE IN HONG KONG

HSBC has officially launched a groundbreaking crypto settlement service in Hong Kong, marking a significant shift in how traditional banks interact with blockchain technology.

HSBC Introduces Blockchain-Powered Settlements

Europe’s largest bank, HSBC, has introduced the first-ever crypto settlement platform in Hong Kong, simplifying digital asset transactions for corporate clients. In a press release on May 22, the $3 trillion financial institution announced that users can now settle transactions using tokenized fiat deposits, boosting speed and lowering costs.

The platform instantly converts fiat deposits into digital tokens, enabling faster, round-the-clock payments in both Hong Kong dollars and U.S. dollars. This service is initially available only to Hong Kong clients, but HSBC has revealed plans to expand across Asia and Europe by late 2025.

A Historic First Transaction with Ant International

HSBC’s digital asset settlement service went live with a pioneering transaction involving Ant International, an affiliate of Alibaba Group Holdings. Ant used its treasury management system to initiate the payment, which was tokenized and settled instantly via HSBC’s distributed ledger technology (DLT) platform.

The two companies also successfully tested Ant’s Whale platform, a digital treasury and tokenization tool, highlighting their ongoing collaboration in fintech innovation.

HSBC’s Vision: Bridging Traditional and Digital Finance

Lewis Sun, HSBC’s Global Head of Domestic and Emerging Payments, hailed the development as a powerful example of tokenized finance merging seamlessly with traditional systems. He described Hong Kong as a global innovation hub and praised the city’s proactive regulatory environment in supporting digital transformation.

Sun stated:

“This service reflects how tokenized deposits can modernize payments, improving efficiency while maintaining trust.”

Hong Kong's Aggressive Push Toward Crypto Leadership

The launch comes amid Hong Kong’s broader ambition to position itself as a global crypto hub. Recent initiatives include:

• Issuing licenses to four new crypto exchanges, including DFX Labs and Accumulus Global

• Accepting Bitcoin and Ethereum as part of wealth disclosures for immigrant visas

• Passing a stablecoin bill in May requiring issuers to obtain operational licenses from the HKMA

These developments further highlight the region’s progressive stance on digital assets and its commitment to attracting global crypto innovation.

@ Newshounds News™
Source:  The Cryoto Basic

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XRPTURBO: THIS XRP PROJECT AIMS TO ACCELERATE RIPPLE DEFI REVOLUTION AS LIQUID STAKING GOES LIVE, SET TO LAUNCH AI AGENT LAUNCHPAD

XRPTurbo is emerging as a powerful new force on the XRP Ledger (XRPL), aiming to redefine the ecosystem through an innovative blend of DeFi and AI technology. As the broader crypto market surges, XRPTurbo is positioning itself as the go-to hub for staking, governance, and decentralized automation within the Ripple ecosystem.

XRPTurbo’s Meteoric Growth and Token Surge

Since its oversubscribed presale, XRPTurbo has achieved major milestones. Its native token, $XRT, has surged more than 350% post-launch, with listings secured on Bitmart and XPmarket, and visibility on CoinGecko, with a CoinMarketCap debut expected soon.

The rapid ascent is fueled by a growing community, strategic partnerships, and strong developer engagement—solidifying XRPTurbo as a serious contender within XRP's evolving DeFi landscape.

High-Yield Liquid Staking Goes Live

XRPTurbo’s liquid staking protocol is now live, offering up to 25% APY for users simply holding $XRT in supported wallets like Xaman. The key innovation: tokens remain fully liquid and transferable, sidestepping the usual lockup periods seen in traditional staking systems.

Already, more than 40% of the total 100 million $XRT supply is staked, showcasing growing investor confidence and strong platform engagement.

Coming Q2: XRPL’s First AI Agent Launchpad

In Q2 2025, XRPTurbo will unveil the first AI Agent Launchpad on XRPL. This decentralized automation tool will allow developers to create intelligent agents—self-operating bots capable of managing trades, executing smart contracts, and analyzing data autonomously on-chain.

This innovation is set to bring real-time, 24/7 automation to XRPL and will play a crucial role in enabling next-gen Web3, DeFi, and tokenization projects to thrive on Ripple’s high-speed, low-cost network.

Community-Driven Governance and Early Access Perks

XRPTurbo isn’t just a tech platform—it’s a governance-enabled ecosystem. With the forthcoming Governance & Launchpad DApp, $XRT holders will gain the power to vote on protocol upgrades, project listings, and funding allocations.

Moreover, $XRT unlocks exclusive early access to new launches, including AI-driven and Real World Asset (RWA) projects. This gives holders a front-row seat—and financial advantage—as new innovations hit the XRPL.

Conclusion

With Bitcoin at all-time highs and DeFi rapidly expanding, XRPTurbo is carving out a distinctive niche where AI meets decentralized finance. It’s not just another project—it’s shaping the future of DeFi on XRPL.

Explore liquid staking, participate in governance, and access tomorrow’s projects today.

Buy $XRT on Bitmart or XPmarket, and learn how via this quick guide: How to Buy $XRT

@ Newshounds News™
Source:  CryptoDaily

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Unveiling China's Gold Hoard Would Implode US Dollar | Bill Holter

Unveiling China's Gold Hoard Would Implode US Dollar | Bill Holter

Liberty and Finance:  5-24-2025

Bill Holter shares sobering insights into the state of global financial systems, warning of the rising risk of a complete debt-driven collapse.

He emphasizes that precious metals, particularly silver, remain essential stores of value in a world where fiat currencies are losing credibility, especially in contrast to the BRICS nations’ move toward asset-backed alternatives.

Holter expresses skepticism about the safety of traditional mining jurisdictions like North America, citing political instability and potential nationalization.

 He also discusses real estate as a vulnerable asset class likely to suffer steep declines amid financial turmoil.

Concluding with personal anecdotes, including a tribute to his late horse Principe, Holter underscores the importance of resilience, preparedness, and independent thinking in uncertain times.

INTERVIEW TIMELINE

 0:00 Intro

1:30 Mining jurisdiction

5:50 Gold’s intrinsic value

8:00 Financial reset

13:30 US & China’s gold

15:00 London gold flows

17:30 The endgame strategy

21:30 Real estate market

26:00 Selling gold & silver

 32:30 Gold vs silver

33:49 Texas secession

35:30 Jim Sinclair

37:27 Riding horses

https://www.youtube.com/watch?v=NaC3kelwxnY

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

A Government Advisor Reveals A "Dangerous Paradox" In The Private Banking Sector.

Time: 2025/05/24 Read: 3,240 times  {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, affirmed that restructuring the banking sector is a fundamental and important step toward enhancing the stability of the financial system and supporting economic development in Iraq.

Saleh explained in a press statement that this restructuring aims to better organize cash flow management and improve the efficiency of the state's financial liquidity, which will contribute to alleviating financial pressures on the public treasury.

He pointed out that there is a clear division in the banking market, as private banks own more than 78% of capital, but contribute a limited percentage not exceeding 20% ​​of financing and deposit operations.

Saleh stressed that the banking restructuring is a comprehensive process that includes modernizing the infrastructure of government banks, enhancing the efficiency of asset and liability management, and developing governance systems in line with international standards.

He added that these measures will increase the banking sector's ability to effectively contribute to the gross domestic product, expand the scope of financing and lending for development projects, which supports economic growth and reduces dependence on oil revenues.

He emphasized that the current financial and monetary challenges, particularly oil price fluctuations and liquidity pressures, require accelerating the implementation of reforms, including increasing bank capital and modernizing operating mechanisms, to enhance the stability of the banking sector and improve the management of public financial resources.

At the beginning of this year, the Iraqi government announced plans to restructure state-owned banks, most notably Rafidain and Rashid Banks, with the aim of transforming them into more modern and efficient financial institutions capable of meeting the needs of the growing Iraqi economy.

In its session held on January 13, 2025, it also decided to establish a completely new bank based on the latest digital banking technologies, aiming to provide integrated banking services to individuals and companies, both inside and outside Iraq.

This new bank has been named "Rafidain First Bank" and will start with an initial capital of 500 billion Iraqi dinars (approximately $381.8 million), with the goal of reaching a final capital of one trillion Iraqi dinars (approximately $763.7 million). The state's contribution to this capital will be 28%.  LINK

With The Stock Market Closing At The Beginning Of The Week, The Dollar Price Fell In Baghdad And Rose In Erbil

May 24, 2025 Economic Number of reads: 88  Baghdad/ NINA / The dollar prices decreased in Baghdad markets, while they rose in Erbil with the closing of the stock exchange at the beginning of the week.

The dollar prices recorded a decrease with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 141,950 dinars for $100, while this morning it recorded 142,100 dinars for $100.

The selling prices in the exchange sector in the local markets in Baghdad witnessed stability, as the selling price reached 143,000 dinars for $100, while the purchase price reached 141,000 dinars for $100.

In Erbil, the dollar recorded an increase, as the selling price reached 142,200 dinars for every $100, and the purchase price reached 141,800 dinars for $100. /End https://ninanews.com/Website/News/Details?key=1228776

During His Meeting With Two US Senators, The Foreign Minister Said: Iraq Is Working Rapidly To Achieve Self-Sufficiency And Energy Independence

Saturday, May 24, 2025,  | Politics Number of readings: 115   Baghdad / NINA / Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein affirmed that Iraq is working at an accelerated pace to achieve self-sufficiency and independence in the field of energy.

The Ministry of Foreign Affairs said in a statement: "The Minister met with two members of the US Senate, Independent Senator from Maine Angus King, and Republican Senator from Oklahoma James Lankford. During the meeting, a number of issues of common interest were discussed.

The two senators congratulated Iraq on the success of hosting the recent Arab Summit in Baghdad, and stressed that they had noticed a significant improvement in the level of stability within the country."

The Minister stressed that Iraqi-American relations are strategic relations that extend from partnership in the war on terrorism, to cooperation in reconstruction, and enhancing stability in the region, in addition to other vital areas including the energy and education sectors, noting Iraq's aspiration to expand the horizons of these relations, and increase the presence of American companies to benefit from promising investment opportunities, and contribute to construction and development efforts.

The Minister affirmed that Iraq is working at an accelerated pace to achieve self-sufficiency and energy independence by investing in associated gas, enhancing electricity interconnection projects with neighboring countries, and exploring new gas fields.

This will make it a gas-producing country, in addition to being a major oil producer. In this context, he called on specialized American companies to invest in this strategic sector.

He pointed out that Iraq is preparing to hold its sixth legislative elections in November of this year, which reflects the consolidation of the democratic experience among the population and contributes to achieving stability and reconstruction.

At the same time, he expressed his regret that a number of Western countries continue to classify Iraq as a high-risk country in travel advisories for their citizens. This negatively impacts the entry opportunities for foreign companies and hinders the development of tourism and cultural exchange.

On the other hand, the two sides affirmed that the terrorist organization ISIS continues to pose a major threat to countries in the region and the world alike, emphasizing the importance of unifying international efforts to eliminate it and prevent its return.

They also discussed developments in the ongoing negotiations between the United States and Iran, agreeing that dialogue is the best way to resolve outstanding issues, achieve stability, and avoid slipping into escalation and confrontation.

In conclusion, the two sides affirmed their support for a political process in Syria that ensures the establishment of a comprehensive democratic process that expresses the aspirations of the Syrian people and leads to the formation of an elected government that represents the various components of society and preserves their rights. /End  https://ninanews.com/Website/News/Details?key=1228777

US Secretary Of State Praises Masrour Barzani And Supports A Strong And Stable Kurdistan

The US State Department commended Kurdistan Regional Prime Minister Masrour Barzani for settling contracts with US companies, affirming Washington's strong support for the Kurdistan Region as a cornerstone of the relationship with Iraq.

This came during a meeting between Secretary of State Marco Rubio and Barzani on Friday (May 23) in Washington, D.C., where they discussed opportunities to enhance trade and investment between the United States and the Kurdistan Region, according to a statement by State Department Spokesperson Tammy Bruce issued this morning (May 24).

Rubio praised Barzani's steps to expand natural gas production through settling contracts with US companies, considering this step to enable Iraq to move closer to energy independence. The two sides also stressed the importance of protecting the rights of religious and ethnic minorities in Iraq and Syria.

This meeting follows the signing of two major contracts in Washington, worth $110 billion, between the Ministry of Natural Resources in the region and the companies Western Zagros and HKN Energy, which were attended by Prime Minister Barzani on May 19.

For its part, the Iraqi Oil Ministry announced its rejection of these contracts, to which Barzani commented, "We hope these positions will be reviewed in a way that serves the interests of all Iraqis. The more flexibility Baghdad shows, the clearer our good intentions and shared endeavors will become." https://www.radionawa.com/all-detail.aspx?jimare=41901

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