MM & Crew: The IQD Update-Reduction in Currency-Diminishing Liquidity-Trading partners-Value-Global Integration

MM & Crew:  The IQD Update-Reduction in Currency-Diminishing Liquidity-Trading partners-Value-Global Integration

6-10-2025

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=MkxSpBaPq3w

Iraq Economic News And Points To Ponder Monday Evening 6-9-25

A US Report Praises Iraq's Economic Policy: "A Quiet Return To The Global Energy Arena."

Energy    The American website International Policy Digest reported that Iraq is making a "quiet return" to the global energy scene, while questioning whether it can transform oil into sustainable economic influence while still facing "institutional fragility" and ongoing political volatility.

The report explained that Iraq is quietly recalibrating its energy diplomacy at a time when the global oil market is entering a new phase of volatility, shaped by shifting geopolitical alliances, demand trends, and the rapidly increasing priority of the transition to green energy.

The report noted that Iraq's recent agreements with China, India, and France indicate a strategic effort to diversify trade partnerships, allowing Baghdad to balance its economic future between Eastern and Western powers. However, it added, these deals reflect a larger dilemma: how to transform oil diplomacy into sustainable economic influence in a country that continues to face "institutional fragility" and ongoing political volatility.

The report considered that Iraq's heavy reliance on oil has made Baghdad vulnerable to global economic shocks, adding that Iraq's energy strategy has traditionally focused on exports to Western markets, and that ongoing political instability has led many Western companies to hesitate to invest in the long term.

To address this, Iraq has increasingly turned to Asia, and to a lesser extent, Europe, in its quest for economic stability and geopolitical importance, the report noted. China has rapidly emerged as Iraq's energy partner, importing 1.19 million barrels per day (bpd), representing a third of Iraq's oil exports despite not being formally part of the Belt and Road Initiative. Chinese corporate investments are cementing Beijing's role as another Asian power in energy diplomacy.

The agreement reflects a similar logic, demonstrating Chinese state-backed companies in Iraq's reconstruction while gaining long-term access to strategic goods.

However, as China consolidates its position through large-scale investments and control of commodities, another Asian power is gaining ground through a more aggressive form of energy diplomacy. India, now the world's third-largest oil consumer, is increasing its purchases of Iraqi oil, with its purchases from Iraq expected to exceed those from Saudi Arabia by 2024.

In addition to this Asian component, the report stated that Iraq's oil diplomacy with France adds a key European layer to Baghdad's diversification strategy, including through the agreement with TotalEnergies in 2023. It added that the two-year suspension of the agreement, followed by its resumption, confirms Baghdad's willingness to pursue deeper engagement with European stakeholders.
The report continued, "Most importantly, this agreement with the French also includes solar infrastructure, signaling the reality that the dominance of fossil fuels has an expiration date." Equally important, the French partnership demonstrates Iraq's desire to keep diplomatic doors open with the West, even as it expands eastward.

However, the report stated that Iraq's energy landscape continues to be shaped by powerful regional players, including Iran and Turkey. Turkey has leveraged its role in Iraq's electricity supply to exert political influence, but Baghdad's repeated failure to pay for Iranian energy has led to recurring power outages, giving Tehran significant leverage over Iraq's domestic stability.

After noting the often-complicated clash between Turkey's ambitions to become a regional energy corridor and Iraq's infrastructure constraints, the report explained that nowhere was this more evident than in the case of the Kirkuk-Ceyhan pipeline, a vital oil export artery that has been out of service since 2022. Legal disputes over Kurdish oil exports and revenues have complicated its re-operation, although bilateral negotiations may be making progress.

Thus, the report stated that within the broader context, Iraq's energy diplomacy appears simultaneously expansive and restrictive. On the one hand, Baghdad is expanding its economic base and diversifying its international partners, but on the other, its ability to implement a long-term political vision remains at risk due to internal divisions and external dependencies.

The report went on to explain that the Iraqi government's current five-year plan requires greater economic diversification, but without deeper structural reform, oil diplomacy risks becoming a short-term solution to governance failures.

However, the US report considered Iraq's advanced strategy to have significant weight, explaining that with the shift in global demand for oil and the geopolitical transformation of energy toward a multipolar system, mid-level producers like Iraq can play a significant role in shaping future energy dynamics.

He added that Baghdad's balancing policy of building relationships across Asia and Europe, while avoiding over-reliance on any one party, is part of a strategic hedging strategy. The success of this strategy hinges not only on its reliance on international engagement, but also on the country's ability to rebuild local institutions and policy infrastructure.

The report concluded by stating that "energy diplomacy in Iraq is about more than just barrels and buyers," explaining that it reflects a broader experience, and questioning whether the resource-rich but "politically fragile" country can turn economic need into geopolitical advantage.

He continued by saying that if Iraq succeeds, its emerging energy strategy could mark the beginning of a new chapter, one that relies not only on diversifying its buyers, but also on recalibrating its foreign policy. He explained that by courting both Eastern and Western powers, Baghdad is asserting itself not only as a passive source, but as an increasingly deliberate player in the future of global energy policy. https://economy-news.net/content.php?id=56158

Gold Prices Stabilize Amid Anticipation Of A New Round Of Talks Between The US And China.

Monday, June 9, 2025 | Economic Number of reads: 215   Baghdad / NINA / Gold prices stabilized on Monday, amid hopes that a new round of trade talks between the United States and China could ease tensions between the world's two largest economies.

The precious metal was traded above $3,306 an ounce, after falling on Friday with the release of better-than-expected US jobs data, which eased some concerns about a slowdown in the US economy.

Top trade negotiators from Washington and Beijing are scheduled to hold a new round of talks in London on Monday, with a particular focus on China's dominance in rare earth production.

Silver remained stable, while palladium and platinum recorded a slight decline. https://ninanews.com/Website/News/Details?key=1233365

Al-Sudani Confirms The Continuation Of Work On Construction, Reconstruction And Development Projects Throughout Iraq

Monday, June 9, 2025 | Politics Number of reads: 257   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed the continuation of work on construction, reconstruction and development projects across Iraq.

Al-Sudani said during his meeting with a number of sheikhs and dignitaries of Anbar Governorate, hosted by the Chairman of the Anbar Tribal Council of Sheikhs, Head of the Al-Bu Dhiab Tribe, Sheikh Hamid Turki Al-Shawka: "We conducted continuous tours in the governorates and developed a special plan for each governorate that suits its service and economic conditions."

He added: "Anbar has many potentials and opportunities, and the government has provided great support to the local government to complete stalled projects and establish new ones."

The Prime Minister continued: "Gas investment in Anbar is at the top of the government's priorities, and we have directed the completion of the Akkas field project, which will provide fuel for the 1,600 megawatt Anbar gas station."

Politically, Al-Sudani said: "Iraq's positions are based on its national interests, mutual respect, and non-interference in internal affairs. We have kept Iraq away from the circle of conflict in the region and emphasize its important pioneering role through its presidency of the Arab Summit and the Development Summit.

We have a vision for the most important challenges and problems and have provided solutions for each file and structural reforms in every sector."

He went on to say: "We proposed the Strategic Development Path project and worked to engage friends and brothers according to a vision of intertwined interests. We directed to address the water scarcity crisis, and the government has put in place mechanisms and plans to confront this crisis."

During the meeting, Al-Sudani offered his sincere congratulations on the occasion of Eid al-Adha, asking God Almighty to spread security and stability throughout Iraq and to alleviate the suffering of our people in Palestine and Lebanon in the face of the ongoing Zionist aggression.

He pointed to the image of cohesion and solidarity among our people from all governorates, and the role of tribes in facing various challenges, most notably the challenge of terrorism, stating:

"The security and stability that Iraq enjoys is thanks to the blood of the martyrs and wounded heroes," stressing the endeavor in this atmosphere to achieve more construction, reconstruction and development throughout Iraq. / End   https://ninanews.com/Website/News/Details?key=1233398

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

“Iraq News” Posted by Clare at KTFA 6-9-2025

KTFA:

Clare:     The currency printed in Iraq is at its lowest level since a year.

6/8/2025   News-Economy

Data showed Central Bank of Iraq The value of the issued currency, "printed" in Iraq Currently at its lowest level in a year.

According to the latest data Statistics For the currency issued in Iraq In April 2025, the value of the issued "printed" currency will be 98.4 trillion Iraqi dinars, down from 99.8 trillion Iraqi dinars in March 2025.

This is the lowest value of Iraqi foreign exchange exports in two years, specifically since March 2024, when exports reached 98.3 trillion Iraqi dinars.

The value of Iraqi foreign exchange exports had risen to more than 100 trillion dinars from May 2024 until January 2025, before gradually declining to below 100 trillion dinars.   LINK

Clare:  Expert: There is no "depreciation" in the value of the Iraqi currency issued.

June 9, 2025   Baghdad

Mustafa Hantoush, a financial and banking expert, denied the existence of a “depreciation” in the value of the Iraqi currency, noting that the state and the Central Bank are striving to create a balance for the Iraqi currency.

Hantoush told the Iraq Observer, “Over the past three years, Iraq has printed approximately 15 trillion dinars, in addition to hoarding foreign currencies, as it printed large quantities of currency backed by international reserves such as dollars and gold.” He added, “These amounts are approximately 200 trillion to 198.5 trillion Iraqi dinars. These amounts do not constitute a decrease or a significant decline, but rather an attempt to create a balance. When the state withdraws quantities of damaged currency, it does not reprint any of them.”

He continued, “In return, a quantity of funds is released from the US Federal Reserve and other banks, or the state reserves the ability to print quantities of currency in the coming months to compensate for the existing shortage.”
The amount of printed currency is an indicator of the level of demand for money in the economy, but it is also a tool for the central bank to control inflation and the exchange rate, especially in a country like Iraq, which relies heavily on the dollar for its daily transactions and faces challenges in regulating the money market.   LINK

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

Clare:  Iraq bans cash payments at government institutions and begins restructuring state banks.

6/9/2025

Saleh Salman, the Prime Minister's financial advisor, announced that the government will begin implementing a comprehensive ban on cash payments within government institutions starting early next month, as part of its efforts to enhance financial inclusion and governance.

Salman said in a press statement that "the government has appointed the global consulting firm Ernst & Young to prepare a plan to restructure six to seven state-owned banks," noting that "the plan will be presented to the government for approval before the end of this year."

He added, "Iraq has made significant progress in adopting electronic payment systems, with the number of bank accounts increasing to approximately 22 to 23 million," noting that "Baghdad is currently cooperating with approximately 30 foreign banks, reflecting an improvement in the confidence of international financial institutions in the Iraqi banking sector."  LINK

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

Clare:  Iraq announces Major Banking Sector Overhaul

7th June 2025  By Padraig O'Hannelly.

Iraq is embarking on a comprehensive restructuring of its banking sector with the assistance of leading international consultancy firms, according to Dr Salih Salman, Advisor to the Iraqi Prime Minister, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London on Tuesday.

The Iraqi government has appointed Ernst & Young to restructure six of the country's seven state-owned banks, including the Industrial Bank, Real Estate Bank, Rafidain Bank, and Rasheed Bank.

The Trade Bank of Iraq (TBI) has separately engaged K2i and KPMG to help restructure its internal and external operations to meet international standards.

Dr Salman revealed that Rafidain Bank, Iraq's largest state-owned institution, will be reincarnated as the First Rafidain Bank with government participation reduced to less than 24 per cent. The remaining shares will be offered to private banks and international investors. The restructuring plan is expected to be finalised and approved by the Iraqi government by the end of the year.

The private banking sector is also undergoing reform following a contract signed between the Central Bank of Iraq (CBI) and Oliver Wyman. This two-to-three-year project will result in recommendations for private banks to either exit the sector, comply with international standards, or merge with other institutions.

Iraq has made significant progress in electronic payment systems adoption, with financial inclusion rising from less than 10 percent in 2018-2019 to approximately 40 percent currently. The number of debit and credit card points of sale (POS) has reached 60,000-70,000, whilst bank accounts have grown to 22-23 million.

From June 2025, all government payments will be made electronically, with cash payments prohibited across government institutions. The Iraqi government has launched awareness campaigns to encourage public adoption of electronic payment systems, moving away from the traditional cash-based culture.

The government has also introduced the Riyada programme, operated in partnership with the Central Bank of Iraq, to provide financing and training for small and medium enterprises. The initiative offers a registration platform where participants can access training and potential financing opportunities.

Dr Salman emphasised that Iraq remains open to foreign investment and international consultancy services across all sectors, including legal, financial, accounting, auditing, and compliance services. The reforms aim to integrate Iraqi banks into the global financial system after decades of isolation due to sanctions and frozen assets.

Since November 2022, all bank transfers in Iraq have been processed through a Central Bank platform in cooperation with the Federal Reserve of the United States, marking Iraq's re-entry into global financial systems. The country now works with approximately 30 overseas banks, though challenges remain in opening international banking relationships.

The comprehensive banking reforms represent a significant shift towards international standards and greater private sector participation in Iraq's financial sector.   LINK

Clare:  Iraq joins the club of advanced countries in electronic payments with 22 million bank cards

6/9/2025

Nabil Al Najjar, head of the electronic payments team, announced that Iraq has become one of the most advanced countries in this field, thanks to decisive government decisions and support from the Central Bank and the financial sector. He noted that the number of bank cards has exceeded 22 million, and that their usage is constantly increasing, with intensive efforts to deploy electronic payment devices throughout the country.

Al-Najjar said in a press statement, "The electronic payment project was not a spur-of-the-moment project. Rather, it was the result of prior preparations that paved the way for Iraq's advancement in this field, despite its late entry, like the rest of the world. However, today we are among the advanced countries that use electronic payment tools."

He explained that the success of this project depended on two key factors: desire and decision-making, adding, "The government's desire came in 2023, specifically on January 18, with a decision to transform Iraq's economic front from a paper-based cash system to an electronic payments system. Thus, we began gradually."

He pointed out that the first experiment to impose the use of electronic payment was at gas stations, saying, "The first experiment was on a single day in June 2023, regarding the issue of forcing gas stations to use electronic payment tools. We certainly encountered problems at first. The project is new and faces many challenges."

He pointed out that "the will was vested in the Central Bank of Iraq and the financial sector as a whole—banks and electronic payment companies, which have contributed significantly to shifting the economy from cash to cashless."

He continued: "The number of cards, according to the statistics available to us, has exceeded 22 million, and thus this number is constantly increasing. The coming days will witness a higher rate of increase, given that on July 1, cash will no longer be accepted at all state institutions. While cash is currently available, it will be available in its entirety, including at gas stations."

Regarding card usage, Al-Najjar explained that "the number of cards in use exceeds 17 to 18 million, and the situation is on the rise. We're talking about more than 40% of citizens using electronic payment tools, and the coming days will witness further change."

He added, "Most citizens own more than one card from more than one company and more than one bank. Their use is limited, and some only use them at government institutions. We need to educate more about the use of these cards in commercial markets and shops. This issue falls on us to raise awareness about the culture of electronic payment."

In this context, Al-Najjar announced a new campaign to spread the culture of electronic payment, saying, "I announce that the "We Will Reach You" campaign, which was launched on January 11, 2025, will be available in the coming days, at the beginning of next month or the end of this month. We will be present in the Kurdistan Region to spread the culture of electronic payment widely."

He explained that Iraq is striving to achieve global standards in this field, saying, "The global system speaks of one POS device for every 37 citizens. Today, in Iraq, we are striving to reach this point by deploying POS devices in shops, large and small markets, and even among kiosk owners."

He pointed out that "electronic payment companies are trying to make these devices available and encourage their use by citizens through loyalty programs launched by companies and banking institutions."

Regarding the situation in the Kurdistan Region, Al-Najjar said: "Today, the Kurdistan Region has entered the localization phase, so the POS deployment phases will be faster and more acceptable to the public, given that they have already gone through this experience in previous phases, but today it is becoming widespread."

He explained that the devices are often distributed free of charge, and that sometimes a small insurance fee of no more than 200,000 to 300,000 dinars is imposed, which is refunded when the device is returned without defects.

Al-Najjar considered Halabja Governorate to represent a strategic launch for the "We Reach You" campaign, explaining: "Today, Halabja Governorate is a new Iraqi governorate. We used to have 18 governorates, now we have 19. Therefore, our people in the Kurdistan Region have a significant share of the electronic payment culture."

He continued: "Choosing Halabja Governorate to launch the "We Will Reach You" campaign from this governorate is a move towards the Kurdistan Region, and also the northern regions of Iraq. I mean here the areas bordering the Kurdistan Region: Mosul, Kirkuk, Salah al-Din, and also the other governorates."

Al-Najjar confirmed that this campaign is being directly sponsored by the Central Bank of Iraq and supported by several financial institutions, including the Bank of Baghdad, the Development Bank, Arab Bank, K-Card, Rafidain Bank, Al-Saqi Bank, Bank of the South, Amwal Bank, Al-Ahli Bank, and others.

He concluded his remarks by pointing out that "banking financial institutions and electronic payment companies are sparing no effort to motivate citizens through loyalty programs, under the direct supervision of the Central Bank of Iraq, the Payments Department, the Financial Inclusion Division, and other relevant departments, with the goal of delivering financial services directly to citizens."    LINK

Iraq Economic News And Points To Ponder Monday Afternoon 6-9-25

Cash Payments Are Banned At Government Institutions Starting This Date. Details

Political |  09/06/2025   Mawazine News - Baghdad - Prime Minister's advisor, Saleh Salman, announced on Monday a ban on cash payments at government institutions starting next month, while indicating that reforms will be implemented in the private banking sector.

Salman said in a statement to the official agency, followed by Mawazine News: "The Iraqi government has appointed Ernst & Young to restructure 6-7 state-owned banks in the country, including the Industrial Bank, the Real Estate Bank, Rafidain Bank, and Rashid Bank."

He indicated that "the Trade Bank of Iraq (TBI) has signed a separate contract with K2i and KPMG to help restructure its internal and external operations to meet international standards."

He added that "Rafidain Bank, which is the largest government institution in Iraq, will be transformed into the First Rafidain Bank, with the government's participation reduced to less than 24 percent, as the remaining shares will be offered to private banks and international investors." He expected that "the restructuring plan will be completed and approved by the Iraqi government by the end of the year."

He continued, "The private banking sector will undergo reforms following the signing of a contract between the Central Bank of Iraq and Oliver Wyman." He explained that "the results of this two-to-three-year project will yield recommendations for private banks to either exit the sector, comply with international standards, or merge with other institutions."

Regarding electronic payments, Salman emphasized that "Iraq has made significant progress in adopting electronic payment systems, with the financial inclusion rate increasing from less than 10 percent in 2018-2019 to approximately 40 percent currently." He noted that "the number of point-of-sale devices has reached 60,000-70,000, while the number of bank accounts has increased to 22-23 million."

He explained that "starting July 2025, all government payments will be conducted electronically, prohibiting cash payments through government institutions." He noted that "the government has launched awareness campaigns to encourage the public to adopt electronic payment systems and move away from the traditional cash-based culture."

He emphasized that "the government has introduced the 'Riyada' program in partnership with the Central Bank." To provide financing and training for small and medium-sized enterprises," he explained, adding that "this program provides a registration platform through which participants can access training and potential financing opportunities."

He pointed out that "Iraq will remain open to foreign investment and international advisory services in all sectors, including legal, financial, accounting, auditing, and compliance services," indicating that "government reforms aim to integrate Iraqi banks into the global financial system after decades of isolation due to sanctions and frozen assets."

He pointed out that "since November 2022, all bank transfers in Iraq have been processed through the Central Bank's platform in cooperation with the US Federal Reserve, representing Iraq's re-entry into global financial systems," noting that "the country now cooperates with approximately 30 foreign banks."

He explained that "challenges still exist in opening international banking relations," stressing that "comprehensive banking reforms represent a major shift toward international standards and increased private sector participation in the Iraqi financial sector." https://www.mawazin.net/Details.aspx?jimare=262323

Iraq Joins The Club Of Advanced Countries In Electronic Payments With 22 Million Bank Cards.

2025/06/09 Reading: 750 times  {Economic: Al Furat News} Nabil Al Najjar, head of the electronic payments team, announced that Iraq has become one of the most advanced countries in this field, thanks to decisive government decisions and support from the Central Bank and the financial sector. He noted that the number of bank cards has exceeded 22 million, and that their usage is constantly increasing, with intensive efforts to deploy electronic payment devices throughout the country.

Al-Najjar said in a press statement, "The electronic payment project was not a spur-of-the-moment project. Rather, it was the result of prior preparations that paved the way for Iraq's advancement in this field, despite its late entry, like the rest of the world. However, today we are among the advanced countries that use electronic payment tools."

He explained that the success of this project depended on two key factors: desire and decision-making, adding, "The government's desire came in 2023, specifically on January 18, with a decision to transform Iraq's economic front from a paper-based cash system to an electronic payments system. Thus, we began gradually."

He pointed out that the first experiment to impose the use of electronic payment was at gas stations, saying, "The first experiment was on a single day in June 2023, regarding the issue of forcing gas stations to use electronic payment tools. We certainly encountered problems at first. The project is new and faces many challenges."

He pointed out that "the will was vested in the Central Bank of Iraq and the financial sector as a whole—banks and electronic payment companies, which have contributed significantly to shifting the economy from cash to cashless."

He continued: "The number of cards, according to the statistics available to us, has exceeded 22 million, and thus this number is constantly increasing. The coming days will witness a higher rate of increase, given that on July 1, cash will no longer be accepted at all state institutions. While cash is currently available, it will be available in its entirety, including at gas stations."

Regarding card usage, Al-Najjar explained that "the number of cards in use exceeds 17 to 18 million, and the situation is on the rise. We're talking about more than 40% of citizens using electronic payment tools, and the coming days will witness further change."

He added, "Most citizens own more than one card from more than one company and more than one bank. Their use is limited, and some only use them at government institutions. We need to educate more about the use of these cards in commercial markets and shops. This issue falls on us to raise awareness about the culture of electronic payment."

In this context, Al-Najjar announced a new campaign to spread the culture of electronic payment, saying, "I announce that the "We Will Reach You" campaign, which was launched on January 11, 2025, will be available in the coming days, at the beginning of next month or the end of this month. We will be present in the Kurdistan Region to spread the culture of electronic payment widely."

He explained that Iraq is striving to achieve global standards in this field, saying, "The global system speaks of one POS device for every 37 citizens. Today, in Iraq, we are striving to reach this point by deploying POS devices in shops, large and small markets, and even among kiosk owners."

He pointed out that "electronic payment companies are trying to make these devices available and encourage their use by citizens through loyalty programs launched by companies and banking institutions."

Regarding the situation in the Kurdistan Region, Al-Najjar said: "Today, the Kurdistan Region has entered the localization phase, so the POS deployment phases will be faster and more acceptable to the public, given that they have already gone through this experience in previous phases, but today it is becoming widespread."

He explained that the devices are often distributed free of charge, and that sometimes a small insurance fee of no more than 200,000 to 300,000 dinars is imposed, which is refunded when the device is returned without defects.

Al-Najjar considered Halabja Governorate to represent a strategic launch for the "We Reach You" campaign, explaining: "Today, Halabja Governorate is a new Iraqi governorate. We used to have 18 governorates, now we have 19. Therefore, our people in the Kurdistan Region have a significant share of the electronic payment culture."

He continued: "Choosing Halabja Governorate to launch the "We Will Reach You" campaign from this governorate is a move towards the Kurdistan Region, and also the northern regions of Iraq. I mean here the areas bordering the Kurdistan Region: Mosul, Kirkuk, Salah al-Din, and also the other governorates."

Al-Najjar confirmed that this campaign is being directly sponsored by the Central Bank of Iraq and supported by several financial institutions, including the Bank of Baghdad, the Development Bank, Arab Bank, K-Card, Rafidain Bank, Al-Saqi Bank, Bank of the South, Amwal Bank, Al-Ahli Bank, and others.

He concluded his remarks by pointing out that "banking financial institutions and electronic payment companies are sparing no effort to motivate citizens through loyalty programs, under the direct supervision of the Central Bank of Iraq, the Payments Department, the Financial Inclusion Division, and other relevant departments, with the goal of delivering financial services directly to citizens." LINK

Stability Of The Dollar Exchange Rate In The Local Market

Monday, June 9, 2025, | Economic Number of reads: 261   Baghdad/ NINA / The dollar exchange rates witnessed stability in the local markets in the capital, Baghdad, on Monday.

The selling price in Baghdad was recorded at 142,000 Iraqi dinars for every 100 US dollars, while the purchase price was 141,000 Iraqi dinars.

In Erbil, the selling price was recorded at 141,750 dinars for every 100 US dollars, while the purchase price was 141,500 dinars.

In Basra Governorate, the selling price of the dollar was recorded at 141,750 dinars, while the purchase price was recorded at 141,250 dinars, for every 100 US dollars./End https://ninanews.com/Website/News/Details?key=1233397

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

This is Peak of the Mania, Big Bubble to Burst as Dollar Fails

This is Peak of the Mania, Big Bubble to Burst as Dollar Fails

David Lin:  6-8-2025

In a recent interview with David Lin, Peter Schiff, Chief Economist & Global Strategist at Euro Pacific Asset Management, doubled down on his long-held bearish stance on Bitcoin, arguing that the cryptocurrency is experiencing “peak mania” and is poised to burst in a spectacular fashion.

Schiff also predicted the demise of the US dollar, emphasizing gold’s enduring value as a safe haven asset.

Schiff drew parallels between the current Bitcoin frenzy and the mortgage crisis of the 2000s, suggesting that both are fueled by speculative bubbles based on faulty premises. He argued that Bitcoin’s purported value proposition as a decentralized and scarce currency is fundamentally flawed.

Schiff questioned the underlying utility of Bitcoin, arguing that it lacks the inherent value of tangible assets like gold. He criticized Bitcoin’s volatility and transaction fees, arguing that they make it impractical for everyday use. He also dismissed the notion that Bitcoin can serve as a hedge against inflation, pointing to its price fluctuations that are often correlated with the stock market.

While dismissing Bitcoin, Schiff championed gold as the ultimate store of value and a reliable hedge against economic uncertainty and currency debasement. He argued that unlike cryptocurrencies which rely on technological infrastructure and complex algorithms, gold has intrinsic value based on its scarcity, durability, and historical role as a medium of exchange.

Schiff also expressed significant concerns about the future of the US dollar, predicting a period of prolonged inflation and a potential decline in its global reserve currency status. He attributed this to the Federal Reserve’s easy money policies and the unsustainable levels of government debt.

He argued that the combination of inflation and a weakening dollar will further strengthen the case for gold as a safe haven asset. He advised investors to diversify their portfolios with gold to protect their purchasing power and preserve wealth in the face of economic turmoil.

In conclusion, Peter Schiff’s commentary painted a bleak picture for Bitcoin and the US dollar, while simultaneously highlighting the enduring appeal of gold as a reliable store of value. His warnings about the “peak of the mania” in Bitcoin and the potential demise of the dollar are likely to resonate with investors seeking to navigate the increasingly volatile and uncertain economic landscape.

Whether his predictions prove accurate remains to be seen, but his perspective offers a stark contrast to the often-unbridled optimism surrounding cryptocurrencies and provides a valuable counterpoint in the ongoing debate about the future of money.

https://youtu.be/_kPA5ZaXpB0

Seeds of Wisdom RV and Economic Updates Monday Morning 6-9-25

Good Morning Dinar Recaps,

ETF ISSUERS PUSH SEC TO RESTORE ‘FIRST-TO-FILE’ APPROVAL PROCESS—CRITICIZE REGULATORY DELAYS ON STAKING & ALTCOIN ETFS

A group of leading ETF firms is urging the SEC to return to the “first-to-file” approval model, claiming the current system undermines innovation and rewards passive behavior.

VanEck, 21Shares & Canary Capital Fire Back at the SEC

📨 ETF issuers VanEck, 21Shares, and Canary Capital have submitted a formal letter to the U.S. Securities and Exchange Commission (SEC) calling for a reinstatement of the first-to-file approval system for ETFs.

🔍 Their main arguments:

• Skipping the queue discourages innovation

• Delays stifle investor choice

• The current system hurts competition

“The reduced incentive for pioneering product development… compromises market efficiency and fundamentally undermines the commission’s mission.”

They also warned that regulatory inconsistency may cost the U.S. its leadership in financial innovation.

Crypto ETF Momentum Grows Under Trump Administration

Since President Trump’s inauguration, there has been a noticeable surge in crypto ETF applications, reflecting growing expectations for a more favorable regulatory climate.

Yet, despite increased activity, SEC delays are widespread.

SEC Slow-Walks Approval on Staking & Altcoin ETFs

Staking and altcoin ETF filings have multiplied — but so have SEC postponements.

 Notable delays include:

• Grayscale’s spot Solana ETF – Now pushed to October

• Staking and XRP ETFs – Delayed with no early approvals expected

Analyst Insight:

“Almost all of these filings have final due dates in October. Early decisions are out of the norm.” — James Seyffart, Bloomberg ETF Analyst

📉 Even REX-Osprey’s staked ETF products, which had effective registration statements, were halted due to SEC concerns over fund structure — dimming expectations for near-term launches.

Why It Matters

With institutional interest booming and crypto markets expanding, regulatory clarity and efficiency are now mission-critical.

 Returning to a transparent and orderly “first-to-file” process could:

• Reinvigorate innovation

• Restore trust among issuers

• Accelerate broader crypto ETF adoption

Final Thought

As crypto ETFs evolve into a pillar of digital asset investing, the SEC’s next moves could define U.S. market leadership for years to come.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

Ripple Launches Japan-Focused Web3 Program Backed by JETRO

Ripple teams with Web3 Salon to fund XRPL-based innovation in Japan—grants up to $200K, major events planned through 2026, and a bold push to accelerate real-world Web3 adoption in Asia.

Ripple Backs Japan’s Web3 Startups with Grants and Mentorship

Ripple is expanding its footprint in Asia with a dedicated initiative to support Web3 startups in Japan, in partnership with Web3 Salon, a program powered by Asia Web3 Alliance Japan and supported by JETRO (Japan External Trade Organization). The new program is designed to drive real-world development on the XRP Ledger (XRPL) by equipping Japanese entrepreneurs with capital, technical mentorship, and regulatory guidance.

▪️ Ripple & Web3 Salon will award up to $200,000 per startup

▪️ Program backed by Ripple’s Japan & Korea Fund

▪️ Four major events planned across Japan through March 2026

$200K Grants to Fuel XRPL Innovation in Japan

At the core of the program is Ripple’s Japan & Korea Fund, part of its broader $1 billion commitment to the XRP ecosystem announced in 2022. Japanese startups building solutions in DeFi, tokenized real-world assets (RWA), and digital payments on the XRPL are eligible to receive grants of up to $200,000.

Along with capital, startups will gain access to Ripple’s global investor and advisor network, offering early-stage founders strategic advantages in funding, business development, and scaling.

Mentorship & Market Strategy Led by Web3 Salon

While Ripple drives capital support and network access, Web3 Salon will take the lead on founder mentorship, compliance support, and go-to-market readiness. In a country with stringent but transparent crypto regulations, this collaboration is positioned to help startups navigate legal complexities and build sustainable, regulation-ready ventures.

Four Major Events Planned Through Early 2026

Ripple’s regional strategy is also reinforced through an ambitious event roadmap. Community leader WrathofKahneman confirmed that this initiative aligns with Ripple’s long-term expansion in Asia.

From now through March 2026, Ripple and Web3 Salon will co-host four major events in Japan, featuring:

• Pitch competitions

• Policy and regulatory panels

• Investor networking

• Web3 workshops and education

These events are designed to accelerate ecosystem growth and encourage collaboration among developers, policymakers, and enterprise partners.

Japan’s Web3 Opportunity: Clarity Meets Innovation

With its tech-savvy market, supportive institutions, and clear regulatory structure, Japan is uniquely positioned to become a Web3 powerhouse in Asia. Ripple’s strategic alignment with JETRO-backed Web3 Salon represents an institutional push to remove entry barriers for blockchain innovators.

As Ripple continues to invest in foundational technologies and ecosystems, Japan could emerge as a regional leader in real-world blockchain adoption—powered by the XRP Ledger.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

BRICS: 50+ Nations Now Use Yuan, Rupee, Ruble—Not US Dollar in Trade

BRICS-led de-dollarization deepens as over 50 countries shift to local currencies in energy and defense sectors, replacing dollar-based trade systems with yuan, rupee, and ruble.

BRICS Powers Global Shift Away from US Dollar

A global financial shift is accelerating as over 50 nations now conduct trade in yuan, rupee, and ruble, especially within oil and defense sectors, reducing reliance on the U.S. dollar. BRICS nations are at the center of this transformation, using currency trade agreements and new payment infrastructures to bypass the petrodollar system.

India and Russia Drive the Local Currency Trade Boom

The strategic cooperation between India and Russia has shown that local currency settlements are not only viable but efficient. India continues to buy Russian oil using rupees, directly paying energy giant Rosneft without the traditional SWIFT-based, dollar-centered mechanisms.

In defense trade, Russia supplies nearly 66% of India’s military imports, and these deals are increasingly settled in yuan, rupee, or ruble. Bilateral agreements have made national currency transactions standard, demonstrating that large economies can shift away from the dollar without friction.

India–Russia trade surged from $13B in 2021 to $27B in 2022—largely due to local currency payments.

Saudi Arabia Joins the De-Dollarization Movement

Saudi Arabia, long seen as a pillar of the petrodollar system, is now engaging in currency swaps with China and discussing yuan-based oil settlement mechanisms. This marks a historic turning point in global energy markets.

Russian President Vladimir Putin emphasized this shift during the BRICS Summit in Kazan:

“The dollar is being used as a weapon. We really see that this is so. I think that this is a big mistake by those who do this.”

Commonwealth Nations Embrace National Currencies

The Commonwealth of Independent States (CIS) has reached an advanced stage of de-dollarization: over 85% of cross-border trade within the bloc now uses local currencies, directly reflecting the BRICS influence in shaping regional currency practices.

Brazilian President Luiz Inacio Lula da Silva also criticized dollar hegemony, stating:

“Resorting to unilateralism undermines the international order… the consistent defense of multilateralism is the only path we must follow.”

BRICS Pay and Dollar-Free Infrastructure Expansion

To facilitate this growing currency shift, BRICS is rapidly developing BRICS Pay, a payment system that supports multinational trade in local currencies. While a single unified BRICS currency remains under discussion, BRICS Pay already allows seamless transactions outside the dollar system.

This infrastructure also helps countries circumvent sanctions while maintaining legal trade, contributing to the ongoing decline of petrodollar dominance.

Over 50 nations are now engaging in non-dollar trade across key sectors—marking a turning point in the global financial order.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 6-9-2025

TNT:

Tishwash:  Iraq drops to 29th place globally in gold reserves

The World Gold Council announced on Sunday that Iraq has dropped one place in its ranking of the world's top gold-holding countries.

According to the latest index published by the Council in June, and reviewed by Iraq Observer, Iraq ranked 29th out of 100 countries listed, down from 28th globally and fourth in the Arab world, after Saudi Arabia, Lebanon, and Algeria.

According to the table, Iraq's gold holdings amounted to 162.7 tons, representing 12.9% of its total other reserves.

The Council noted that "the United States of America tops the list of the world's largest gold holders, with 8,133,000 tons, followed by Germany with 3,351,000 tons, then Italy with 2,451,000 tons, while Iceland and Tobago come in last with 2 tons."

The World Gold Council, headquartered in the United Kingdom, has extensive experience and in-depth knowledge of the factors influencing market changes, and its members include the world's largest and most advanced gold mining companies   link

Tishwash:  Iraq joins the club of advanced countries in electronic payments with 22 million bank cards.

Nabil Al Najjar, head of the electronic payments team, announced that Iraq has become one of the most advanced countries in this field, thanks to decisive government decisions and support from the Central Bank and the financial sector.

He noted that the number of bank cards has exceeded 22 million, and that their usage is constantly increasing, with intensive efforts to deploy electronic payment devices throughout the country.

Al-Najjar said in a press statement, "The electronic payment project was not a spur-of-the-moment project. Rather, it was the result of prior preparations that paved the way for Iraq's advancement in this field, despite its late entry, like the rest of the world. However, today we are among the advanced countries that use electronic payment tools."

He explained that the success of this project depended on two key factors: desire and decision-making, adding, "The government's desire came in 2023, specifically on January 18, with a decision to transform Iraq's economic front from a paper-based cash system to an electronic payments system. Thus, we began gradually."

He pointed out that the first experiment to impose the use of electronic payment was at gas stations, saying, "The first experiment was on a single day in June 2023, regarding the issue of forcing gas stations to use electronic payment tools. We certainly encountered problems at first. The project is new and faces many challenges."

He pointed out that "the will was vested in the Central Bank of Iraq and the financial sector as a whole—banks and electronic payment companies, which have contributed significantly to shifting the economy from cash to cashless."

He continued: "The number of cards, according to the statistics available to us, has exceeded 22 million, and thus this number is constantly increasing. The coming days will witness a higher rate of increase, given that on July 1, cash will no longer be accepted at all state institutions. While cash is currently available, it will be available in its entirety, including at gas stations."

Regarding card usage, Al-Najjar explained that "the number of cards in use exceeds 17 to 18 million, and the situation is on the rise. We're talking about more than 40% of citizens using electronic payment tools, and the coming days will witness further change."

He added, "Most citizens own more than one card from more than one company and more than one bank. Their use is limited, and some only use them at government institutions. We need to educate more about the use of these cards in commercial markets and shops. This issue falls on us to raise awareness about the culture of electronic payment."

In this context, Al-Najjar announced a new campaign to spread the culture of electronic payment, saying, "I announce that the "We Will Reach You" campaign, which was launched on January 11, 2025, will be available in the coming days, at the beginning of next month or the end of this month. We will be present in the Kurdistan Region to spread the culture of electronic payment widely."

He explained that Iraq is striving to achieve global standards in this field, saying, "The global system speaks of one POS device for every 37 citizens. Today, in Iraq, we are striving to reach this point by deploying POS devices in shops, large and small markets, and even among kiosk owners."

He pointed out that "electronic payment companies are trying to make these devices available and encourage their use by citizens through loyalty programs launched by companies and banking institutions."

Regarding the situation in the Kurdistan Region, Al-Najjar said: "Today, the Kurdistan Region has entered the localization phase, so the POS deployment phases will be faster and more acceptable to the public, given that they have already gone through this experience in previous phases, but today it is becoming widespread."

He explained that the devices are often distributed free of charge, and that sometimes a small insurance fee of no more than 200,000 to 300,000 dinars is imposed, which is refunded when the device is returned without defects.

Al-Najjar considered Halabja Governorate to represent a strategic launch for the "We Reach You" campaign, explaining: "Today, Halabja Governorate is a new Iraqi governorate. We used to have 18 governorates, now we have 19. Therefore, our people in the Kurdistan Region have a significant share of the electronic payment culture."

He continued: "Choosing Halabja Governorate to launch the "We Will Reach You" campaign from this governorate is a move towards the Kurdistan Region, and also the northern regions of Iraq. I mean here the areas bordering the Kurdistan Region: Mosul, Kirkuk, Salah al-Din, and also the other governorates."

Al-Najjar confirmed that this campaign is being directly sponsored by the Central Bank of Iraq and supported by several financial institutions, including the Bank of Baghdad, the Development Bank, Arab Bank, K-Card, Rafidain Bank, Al-Saqi Bank, Bank of the South, Amwal Bank, Al-Ahli Bank, and others.

He concluded his remarks by pointing out that "banking financial institutions and electronic payment companies are sparing no effort to motivate citizens through loyalty programs, under the direct supervision of the Central Bank of Iraq, the Payments Department, the Financial Inclusion Division, and other relevant departments, with the goal of delivering financial services directly to citizens."  link

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

Tishwash:  The Ministry of Finance completes the 2025 budget schedules, and Al-Kadhimi warns: It must reflect the economic reality and the decline in oil prices.

The Ministry of Finance is moving toward completing final preparations for the 2025 budget schedules within the next few days. Meanwhile, parliamentary finance committee member Moeen Al-Kadhimi stressed the need for these schedules to reflect the current economic reality, especially in light of the decline in oil prices.

Al-Kadhimi explained in a statement followed by (Al-Mada) that "the schedules the ministry is working on are routine and were prepared according to a mechanism that has been followed for a long time," adding that it is likely that "they will be presented to the Finance Committee after the Eid al-Adha holiday, where they are expected to be reviewed in a single session during which recommendations will be presented and ratified by Parliament."

He explained that "the House of Representatives has the authority to reduce financial allocations without increasing them," adding that "the Finance Committee intends to use this right to control the size of public spending and align it with available resources."

He pointed out that "the 2023 budget amounted to 199 trillion dinars, but the actual expenditure did not exceed 146 trillion dinars. As for 2024, the budget was estimated at 211 trillion dinars, while only 156 trillion dinars have been implemented so far."

Al-Kadhimi stressed that "the 2025 budget schedules must be more realistic and based on actual revenues, not estimates," emphasizing "the need to take into account the financial challenges associated with declining oil revenues, while achieving a balance between the requirements of ministries and the aspirations of governorates, on the one hand, and the government's actual ability to finance, on the other."   link

Mot:  .. aaaahhhhhhh -- the ""Wisdom"" Ya Finds on da Net!!! 

Mot: .. Showed Them - HUH!!!  

Economist Called 1987 Crash, Issues Dire Warning for Danger Zone

Economist Called 1987 Crash, Issues Dire Warning for Danger Zone

David Lin:   6-8-2025

Renowned economist Mark Skousen, often dubbed “America’s Economist” and Doti-Spogli Endowed Chair of Free Enterprise at Chapman University, has issued a stark warning about the current economic climate, drawing parallels to his accurate prediction of the 1987 stock market crash.

 Speaking with David Lin, Skousen highlighted the potential dangers stemming from President Trump’s tariff policies and outlined investment strategies for navigating a landscape fraught with stagflation and financial market instability.

Skousen, a highly respected figure in the economic world, expressed serious concerns about the unintended consequences of tariffs.

 He argues that while the intention might be to protect domestic industries and incentivize manufacturing, these policies often lead to higher prices for consumers, disrupt supply chains, and ultimately stifle economic growth.

He believes these policies are pushing the economy closer to a “danger zone” characterized by increased uncertainty and volatility.

A key concern highlighted by Skousen is the rising threat of stagflation – a combination of stagnant economic growth and high inflation.

This scenario, which plagued the 1970s, is particularly worrisome as it presents policymakers with a difficult dilemma: measures to combat inflation could further dampen economic growth, while policies aimed at stimulating growth might exacerbate inflationary pressures.

Skousen’s warning, given his track record in predicting market downturns, should not be taken lightly. His emphasis on the potential ramifications of tariff policies, the looming threat of stagflation, and the need for strategic investment approaches offers valuable insights for investors seeking to protect and grow their wealth in these uncertain times.

While the future remains uncertain, Skousen’s analysis provides a framework for understanding the risks and opportunities that lie ahead. He urges investors to exercise caution, conduct thorough research, and adopt a proactive approach to managing their portfolios. Only then can they hope to weather the storm and emerge stronger on the other side.

https://youtu.be/dKEcg_4ykEs

Iraq Economic News And Points To Ponder Sunday Afternoon 6-8-25

What Are The Reasons For The Decline In The Value Of The Issued Currency Printed In Iraq?

Economy |  08/06/2025   Mawazine News – Baghdad   Data from the Central Bank of Iraq (CBI) shows that the value of Iraq's issued currency (printed) is currently at its lowest level in a year.

According to the latest statistical data on the currency issued in Iraq in April 2025, the value of the issued currency (printed) amounted to 98.4 trillion Iraqi dinars, down from 99.8 trillion Iraqi dinars in March 2025.

This value of money issued in Iraq is the lowest in two years, specifically since March 2024, when the issued currency reached 98.3 trillion Iraqi dinars. https://www.mawazin.net/Details.aspx?jimare=262289

Stock Market: The Dollar Price Stabilizes In Local Markets

Buratha News Agency 211 2025-06-08  The dollar exchange rate in local markets in the capital, Baghdad, witnessed remarkable stability on Sunday, June 8, 2025. The selling price of the dollar reached 142,000 Iraqi dinars per 100 US dollars, while the buying price recorded 141,000 Iraqi dinars.

In Erbil, the selling price of the dollar was 141,750 dinars per $100, while the buying price was 141,500 dinars. In Basra Governorate, the selling price was 141,750 dinars per $100, while the buying price was 141,250 dinars.

This stability reflects a state of balance in the local currency market amid continued trading activity in Iraq's various governorates.   https://burathanews.com/arabic/economic/461068

Iraq Drops To 29th Place Among Countries With The Highest Gold Holdings In The World

Sunday, June 8, 2025 | Economic Number of readings: 34   Baghdad / NINA / Iraq dropped one place in the ranking of countries with the largest gold reserves in the world.

The World Gold Council stated, in a table, that "Iraq ranked 29th out of 100 countries listed in the table, after it was ranked 28th globally, and ranked fourth in the Arab world after Saudi Arabia, Lebanon and Algeria."

It added, "Iraq's gold holdings amounted to 162.7 tons, representing 12.9% of its total other reserves."

The table indicated that "the United States of America tops the list of the largest gold holders in the world, followed by Germany, then Italy, while Iceland and Tobago came at the bottom of the list." / End

https://ninanews.com/Website/News/Details?key=1232246

Iraq's Oil Exports To The US Declined Last Week

Sunday, June 8, 2025 | Economic Number of readings: 127   Baghdad/ NINA / The US Energy Information Administration announced a decrease in Iraqi exports to the United States during the past week.

The administration stated in a table that "the average US imports of crude oil during the past week from 9 major countries amounted to 5.491 million barrels per day, a decrease of 309 thousand barrels per day compared to the previous week, which amounted to 5.800 million barrels per day.

It added that the average "Iraqi oil exports to America amounted to 214 thousand barrels per day, a decrease of 21 thousand barrels per day compared to the previous week, which amounted to 235 thousand barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Saudi Arabia, Brazil, Mexico, Colombia and Iraq."

According to the table, "the amount of US imports of crude oil continues from Venezuela, Nigeria and Ecuador." / End   https://ninanews.com/Website/News/Details?key=1232260

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

All Fiat Currencies Will Collapse | Kerry Lutz

All Fiat Currencies Will Collapse | Kerry Lutz

Liberty and Finance:  6-7-2025

The global financial system is in a state of slow-motion collapse, eroding individual freedoms and demanding a shift in financial strategy.

That’s the stark warning from Kerry Lutz, founder of the Financial Survival Network, in a recent conversation with Liberty and Finance.

Lutz, who has long voiced concerns about the fragility of the existing financial order, believes his early warnings are now being validated by market realities.

Lutz argues that the signs are everywhere, from the surging price of gold to the increasing adoption of Bitcoin, and the ineffectiveness of traditional economic safeguards to protect against currency debasement. He emphasizes that these aren’t isolated incidents, but rather symptoms of a deeper systemic malaise.

A key element of Lutz’s strategy for navigating this uncertain landscape is holding tangible assets, particularly precious metals like gold and silver. He sees these assets as a crucial hedge against inflation and currency devaluation, offering a real sense of security in a world where traditional financial instruments are increasingly vulnerable.

He also highlights a growing movement within the United States, where states are beginning to recognize gold and silver as legal tender.

 This, Lutz believes, is a positive step towards empowering individuals and giving them greater control over their financial futures. By allowing citizens to transact directly with precious metals, it bypasses the traditional banking system and offers a tangible alternative to fiat currency.

Lutz’s message is clear: the comfortable assumptions of the past no longer hold true. The reliance on traditional financial institutions and government safeguards is proving increasingly risky.

 In this environment, individuals must take proactive steps to protect their wealth and secure their financial futures. Investing in tangible assets, understanding alternative currencies, and staying informed about the changing financial landscape are all crucial components of a survival strategy in this era of “slow-motion collapse.”

While the future remains uncertain, Kerry Lutz’s message serves as a powerful call to action, urging individuals to take control of their financial destinies and prepare for a world drastically different from the one they once knew.

INTERVIEW TIMELINE:

0:00 Intro

 1:43 Free speech

 9:00 Dollar destruction

19:19 Gold, silver, & cryptocurrency

29:17 Dangers of AI

https://www.youtube.com/watch?v=byehRL5BHog

Iraq Economic News And Points To Ponder Sunday Morning 6-8-25

140 Trillion Dinars Enter The Iraqi Treasury In One Year, 91% Of Which Comes From Oil.

Energy and Business     breaking   2025-06-06 23:32  Shafaq News/ The Iraqi Ministry of Finance revealed on Saturday that the revenues in the 2024 federal budget exceeded 140 trillion dinars, confirming that  oil contributed 91% of those revenues.
 
Shafaq News Agency reviewed the data and tables issued by the Ministry of Finance in May for the previous fiscal year's accounts, which showed that oil remains the primary source of revenue for Iraq's general budget, accounting for 91% of the total.

This indicates that the rentier economy remains the foundation of the budget structure.
 
The tables indicate that
 
     total revenues in 2024 amounted to 140 trillion, 774 billion, 106 million, 157 thousand, and 464 dinars, while
     total expenditures amounted to 125 trillion, 214 billion, 440 million, 53 thousand, and 991 dinars.
 
According to the tables,
 
     oil revenues amounted to 127 trillion, 536 billion, 400 million, and 812 thousand dinars,
representing 91% of the general budget, while
     non-oil revenues amounted to 13 trillion, 237 billion, 705 million, and 728 thousand dinars.
 
In this regard, economic expert Mohammed al-Hasani told Shafaq News Agency,
 
"Iraq's reliance on oil for its public revenues indicates that
the country is still suffering under the burden of a rentier economy, disguised unemployment, and other economic problems
 
that constitute an obstacle to any progress."

He added,  "Iraq needs major economic reforms focused on
     diversifying the economy,
     improving spending efficiency, and
     combating financial waste
to ensure a sustainable economic future."
 
In March 2021, the Prime Minister's financial advisor, Mazhar Mohammed Salih, told Shafaq News Agency that the
 
reasons for the economy remaining rentier are due to the
     wars and
     economic blockade imposed over the past decades, as well as the
     political conflicts Iraq is currently witnessing, which have led to the dispersion of economic resources.

The Iraqi state's continued reliance on oil as the sole source of its public budget
exposes the country to the risk of global crises linked to oil markets.
 
This forces it to cover its deficit through external or domestic borrowing each time.
 
This indicates a
 
     weakness in the management of public funds and an
     inability to find alternative financing solutions.    
  
https://shafaq.com/ar/اقتصـاد/140-تريليون-دينار-تدخل-خزينة-العراق-في-عام-91-منها-من-النفط 

Iraq Moves Towards Its "Forgotten Treasure"

Posted on2025-06-07 by sotaliraq  On Friday, the Parliamentary Foreign Relations Committee called on the Iraqi Ministry of Foreign Affairs to demand that ambassadors and chargés d'affaires at embassies and consulates abroad take serious action to inventory Iraqi property and officially return it to state ownership.

$90 billion in the shadows... Iraq searches for a map of its forgotten treasure.
Committee member Mukhtar al-Moussawi said, "Iraq has numerous assets and real estate properties in various countries around the world, and all their original and documentary evidence is available.

However, it requires intensive efforts to inventory them and take the necessary measures to recover them from those entrusted with them or those in whose names they were registered during the former regime."

Al-Moussawi called on the Iraqi Ministry of Foreign Affairs to "demand that Iraqi consuls and ambassadors take the necessary action and make genuine efforts to recover these numerous Iraqi assets, valued at millions of dollars, including a large mosque in Australia, large tea plantations in Sri Lanka, and farms in Yemen."

Regarding the lifting of the seizure of some properties belonging to the former regime within the Green Zone, Al-Moussawi confirmed that "some properties will be sold to their occupants at a price estimated at four million Iraqi dinars per square meter, a price that is not commensurate with the importance and location of these properties."

Shafaq News Agency revealed in an investigation, citing senior diplomatic sources, that Iraq has at least 50 real estate and investment projects spread across Europe, Asia, and Africa, including luxurious palaces, farms, banks, commercial offices, and strategic factories.

These assets were part of Iraq's expansionist economic policy during the 1970s and 1980s, when it used oil revenues to purchase strategic assets around the world to bolster its economic and diplomatic standing.

However, after the fall of the regime in 2003, this issue entered a cycle of neglect and loss. The Parliamentary Integrity Committee revealed that essential property documents had been stolen or destroyed, that some properties had been transferred to individuals or front companies affiliated with the former regime or networks linked to it, while others remained without any significant follow-up.

Initial estimates put the value of these assets at between $80 and $90 billion. Economists believe that recovering even a small portion of them or investing them properly could generate sustainable revenues for a country whose budgets depend almost exclusively on crude oil exports.

However, according to legal experts, some of these assets may have been subject to statutes of limitations in host countries, or were subject to legal actions that legalized ownership by third parties after Iraq's absence from the scene for two decades.

In addition, there is a fear that internal political interference could hinder recovery efforts, especially if current properties are tied to powerful interests or old contracts that are difficult to cancel without engaging in complex legal disputes.  LINK

Where Did It Go? .. Iraq's Internal Public Debt Is Rising.

Posted on2025-06-07 by sotaliraq   June 7, 2025  The Central Bank of Iraq announced today, Saturday, that Iraq's domestic public debt rose at the end of March of this year, revealing the entities to which the debts were allocated.

The bank stated in an official statistic that Iraq's domestic debt rose to 85.536 trillion dinars at the end of March 2025, compared to 82.608 trillion dinars in February.

She added that this debt also increased by 2.91% compared to the end of 2024, which amounted to 83 trillion and 50 billion dinars, and increased by 17.53% compared to the end of 2023, which amounted to 70 trillion and 585 billion dinars.

The bank explained in its statistics that these debts, amounting to 85.536 billion dinars, come in the form of bonds amounting to 12,567,939 trillion dinars, in the form of government bank loans amounting to 5,800,000 trillion dinars, and in the form of loans to financial institutions amounting to 13,352,406 trillion dinars.

He added that the debt also comes from treasury transfers for the Ministry of Finance amounting to 2,030,000 trillion dinars, treasury transfers amounting to 51,030,130 trillion dinars, and debts on the Ministry of Finance amounting to 755 billion and 519 million dinars.  LINK

Basra Crude Records Weekly Gains Of 2.42%

economy | 07/06/2025  Mawazine News - Baghdad -  Basra Heavy and Medium crude oils posted weekly gains, as global oil prices rose.

Basra Heavy closed the last session on Friday, up 40 cents, reaching $61.83 a barrel, recording weekly gains of $1.46, or 2.42%.

Basra Medium crude also closed the same session, up 40 cents, reaching $64.68 a barrel, achieving weekly gains of $1.15, or 1.81%.

Globally, Brent and Texas Intermediate crudes posted weekly gains at the settlement after two consecutive weeks of decline. Brent crude rose 2.75% since the beginning of the week, while West Texas Intermediate crude increased by 4.9%.   https://www.mawazin.net/Details.aspx?jimare=262248  

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