Iraq Economic News And Points To Ponder Friday Morning 6-13-25

Parliamentary Security: Evacuation Of The US Embassy Indicates A Strike Against Iran

A wish | 10:51 - 12/06/2025  Mawazine News - Baghdad -  Member of the Parliamentary Security and Defense Committee, Mohammed Al-Shammari, confirmed on Thursday that the evacuation of the US embassy in Baghdad indicates the presence of a strike against Iran.

He pointed out that Iraq is within the circle of the Iranian-American conflict and that military bases are within range of missiles.

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Al-Shammari said in a televised interview, "The evacuation of the US embassy may indicate the presence of a strike against Iran, knowing that the Islamic Republic will respond anywhere connected to America and Israel, in addition to the close range of retaliatory strikes in Iraq."

He added, "Iraq's position is balanced in its relations with all parties, and Iraqi security is fully secured, but the external repercussions are uncontrollable. All we have to do is mediate if the other parties want to respond."

He continued, "Trump does not view countries as a parallel or equal party, but rather sees himself above everyone, and this is difficult to deal with."

He added, "Both parties do not consider Iraq's good intentions and will, but rather see it as an arena for settling scores. Iraq is now within the circle of war between Iran and the US, and all its military bases are within range of Iranian missiles."

He explained that "Iraq has no official contact with Israel, and what halted the threatened strike on Iraq was the Iraqi government's high-level diplomacy, with the bulk of it coming from the United States."
He continued, "There is an agreement and a schedule for the full withdrawal of security forces from Iraq within the next year."      https://www.mawazin.net/Details.aspx?jimare=262466

Spokesman For The Commander-In-Chief: All Diplomatic Missions Operating In Iraq Enjoy The Widest Range Of Safe Operations

Thursday, June 12, 2025, 1:42 PM | Politics Number of reads: 374   Baghdad / NINA / The spokesman for the Commander-in-Chief of the Armed Forces, Sabah Al-Numan, confirmed today, Thursday, that all Arab and foreign diplomatic missions operating in Iraq enjoy the widest range of safe work, freedom of communication and effectiveness, and carry out their activities normally, whether in the capital, Baghdad, or in the various governorates.

Al-Numan told the official agency: "The evacuation of some employees of the US Embassy, ​​from Iraq or other regions in the Middle East, is an organizational precautionary measure related to them, and has nothing to do with the presence of any field security indicator inside Iraqi territory."

He added that "all security indicators and briefings that we receive on a daily basis confirm the escalation of stability and the establishment of internal security throughout the country."

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He stressed that "all Arab and foreign diplomatic missions operating in Iraq enjoy the widest range of safe work, freedom of communication and effectiveness, and carry out their activities normally, whether in the capital, Baghdad, or in the various Iraqi governorates," explaining that "the security forces continue to implement their plans with high efficiency to ensure security and stability, and intelligence and field reports do not indicate the existence of actual threats that would affect the work of the missions or the general situation in the country."

Al-Naaman continued, "The Joint Operations Command and other security agencies are following all developments and confirm the continuation of work with a high level of readiness and the ability to deal with any emergency in accordance with approved professional standards." / End https://ninanews.com/Website/News/Details?Key=1233833

Oil Prices Rebound After 'Wave Of Anxiety' In The Middle East

Economy | 09:20 - 12/06/2025  Mawazine News - Follow-up:
Oil prices retreated on Thursday, reversing gains made after exceeding $70 a barrel, due to moves to reduce the number of US diplomats in the region and fears of a potential US-Iranian clash.

Brent crude futures fell 30 cents, or 0.4 percent, to $69.47 a barrel, while US West Texas Intermediate (WTI) crude fell 23 cents, or 0.3 percent, to $67.92 a barrel.

The previous day, Brent and WTI rose more than 4 percent to their highest levels since early April, as US President Donald Trump said the US was moving its forces because the Middle East "could be a dangerous place" and that the US would not allow Iran to acquire a nuclear weapon.

Escalating tensions with Iran have raised the possibility of oil supply disruptions, with the two sides scheduled to meet on Sunday. "Some of the rally in oil prices that pushed Brent above $70 a barrel was overblown.

The US has not identified any specific threat of an Iranian attack," said Vivek Dhar, director of mining and energy commodities research at Commonwealth Bank of Australia.

 "The pullback is logical, but the geopolitical premium that is keeping Brent above $65 a barrel is likely to persist until there is clarity on the US-Iran nuclear talks."
https://www.mawazin.net/Details.aspx?jimare=262424

The Dollar Exchange Rate Rose In Local Markets

Economy | 12/06/2025  Mawazine News - Baghdad:  The US dollar exchange rate rose on Thursday morning in Baghdad markets, with the following prices: 142,750 Iraqi dinars for sale per $100,   and 140,750 dinars for purchase per $100.
https://www.mawazin.net/Details.aspx?jimare=262432

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Gold Continues To Gain On Middle East Tensions

Thursday, June 12, 2025, 10:46 AM | Economic Number of reads: 249
Baghdad / NINA / Gold continued its gains for the second session, supported by rising tensions in the Middle East, in addition to strengthening its appeal as a safe haven, after US President Donald Trump said that he would notify trading partners of customs tariff rates within one to two weeks.

According to Bloomberg, the precious metal rose by 0.6% to approach $3,373 per ounce, continuing the 1% gains it recorded in the previous session, when it also benefited from the decline of the dollar.

Buying interest increased after the United States ordered some embassy staff to leave Baghdad and allowed families of American military personnel to leave the Middle East, following Iran's threat to attack US bases if talks over its nuclear program collapse and it is attacked. / End https://ninanews.com/Website/News/Details?key=1233802

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

Seeds of Wisdom RV and Economic Updates Friday Morning 6-13-25

Good Morning Dinar Recaps,

SEC Axes Biden-Era Proposed Crypto Rules in Flurry of Repeals

The U.S. Securities and Exchange Commission (SEC) has rescinded a wide slate of proposed rules introduced under the Biden Administration, including two that directly targeted crypto custody and DeFi protocols.

In a move reflecting President Donald Trump’s regulatory rollback agenda, the SEC said on Thursday that it is officially withdrawing several notices of proposed rulemaking issued between March 2022 and November 2023, during former Chair Gary Gensler’s tenure.

The agency emphasized that it “does not intend to issue final rules with respect to these proposals,” but left the door open to propose new rules in future regulatory actions if deemed necessary.

“Down goes 3b16, qualified custodian, and all the other unfinished Gensler rule proposals,”
— Paul Grewal, Coinbase Chief Legal Officer

Exchange Definition Rule Nullified

Among the 14 rules withdrawn, a key proposal was Rule 3b-16, which aimed to expand the definition of “exchange” to include decentralized finance (DeFi) protocols. The amendment also intended to tighten crypto custody standards for investment advisers.

The rule sought to include in the definition of “exchange” systems that offer non-firm trading interest and communication protocols to connect buyers and sellers of securities. If implemented, this could have classified many DeFi platforms as securities exchanges, subjecting them to federal oversight.

First introduced in March 2022, the proposal drew strong criticism. In March 2025, SEC Commissioner Mark Uyeda recommended abandoning the rule, which attempted to fold crypto firms into the “alternative trading system” classification.

Crypto Custody Rule Rescinded

Another major repeal was the SEC’s Safeguarding Advisory Client Assets rule, first proposed in March 2023, which would have expanded custody requirements for crypto assets.

The rule proposed expanding the Custody Rule under the Investment Advisers Act of 1940 to cover all client assets, including digital assets. It mandated that all such assets be held with a “qualified custodian”—typically meaning a regulated bank or broker-dealer.

This posed a serious threat to the crypto sector, as most crypto exchanges and wallet providers did not qualify as “qualified custodians.” Investment advisers would have been forced to either change providers or exit the crypto space altogether.

Commissioner Uyeda had previously asked SEC staff to consider withdrawing the crypto custody proposal, which has now been officially rescinded.

Other Rules Rescinded

In addition to the high-profile crypto rules, the SEC also repealed several non-crypto rules with indirect implications for the digital asset industry, including:

• Cybersecurity risk management and reporting rules for investment advisers and funds—important for crypto fund managers and custodians.

• A rule on position reporting for large security-based swaps, which could have affected firms with large crypto derivatives exposure.

• A rule requiring enhanced ESG (environmental, social, and governance) reporting for public companies—widely criticized by conservative policymakers.

These repeals mark a major shift in the regulatory tone coming from Washington, aligning with the Trump Administration’s broader commitment to deregulation in financial and crypto markets.

@ Newshounds News™
Source:  Cointelegraph

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US Senate Schedules Final GENIUS Stablecoin Bill Vote for June 17

The U.S. Senate is scheduled to cast its final vote on the GENIUS Act next Tuesday, a key legislative move that could shape the future of stablecoin regulation in the United States.

According to an official notice posted on Thursday by Senate Democrats, the final vote on the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) will take place on June 17, with the exact time to be determined by the Majority Leader in consultation with the Democratic Leader.

If passed, the bill will then proceed to the House of Representatives for further voting. The GENIUS Act seeks to establish a comprehensive legal framework for stablecoins and their issuers within the U.S. financial system.

Key Provisions of the GENIUS Act:

• Requires stablecoins to be fully backed by U.S. dollars or other liquid assets.

• Imposes mandatory annual audits for issuers managing over $50 billion in market capitalization.

• Introduces compliance requirements for foreign-based issuers operating within U.S. markets.

The Senate's procedural vote on Wednesday cleared the way for the upcoming final decision, which comes amid growing bipartisan interest in regulating the digital asset space.

If passed in the Senate, the GENIUS Act will move to the House, where lawmakers have introduced their own bill—the Stablecoin Transparency and Accountability for a Better Ledger Economy Act (STABLE Act). This bill was advanced out of committee in May but differs from the GENIUS Act in critical areas, including jurisdictional control (state vs. federal) and oversight of foreign issuers like Tether.

Despite these differences, momentum is building. Stablecoin legislation has gained strong backing from President Donald Trump, who has publicly endorsed the GENIUS Act and expressed hopes for final passage by August.

Adding to the push, Treasury Secretary Scott Bessent stated earlier this week that stablecoin legislation could set the stage for massive market expansion. He forecasted that the USD stablecoin market could exceed $2 trillion by the end of 2028, a significant leap from its current size of $252 billion, according to CoinGecko.

The upcoming vote on June 17 is seen as a pivotal moment that could establish the United States as a leader in global stablecoin regulation while providing much-needed clarity and security to issuers, investors, and the broader financial sector.

@ Newshounds News™
Source:  The Block

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BRICS: 71 Countries Settled Trade Without the US Dollar  

The BRICS alliance is making significant strides in its de-dollarization strategy, actively sidelining the U.S. dollar in favor of local currencies for international trade. This movement is gaining traction worldwide, with countries like Nigeria and Iraq now banning the use of the USD in foreign exchange markets and oil settlements.

If BRICS unveils a transformative plan at its upcoming summit in Rio de Janeiro, the U.S. dollar’s long-standing global dominance could face serious pressure. As momentum grows, the question is no longer “if” the dollar will lose its stronghold, but “when.”

71 Countries Had Settled Trade Before BRICS Started De-Dollarization

A total of 71 countries had already moved away from using the U.S. dollar for trade settlements before BRICS formally launched its de-dollarization agenda. Recent data shows that these efforts include:

• Settling trade in local currencies

• Diversifying foreign currency reserves

• Reducing reliance on U.S. foreign exchange

• Conducting oil and commodity payments in non-USD terms

The earliest recorded shift came in 2011, when China — a founding BRICS member — began favoring the gold-backed yuan over the U.S. dollar in its oil purchases. That initial move sparked a gradual and calculated transition to alternative currencies in trade deals throughout the following years.

BRICS Drives the Agenda — With Global Participation

These dollar-free transactions span a wide range of nations across Europe, South America, Asia, Africa, and Australia. Both allies and adversaries of the U.S. have participated, leaving Washington increasingly isolated on the world financial stage.

While this global trend began well before 2022, BRICS greatly accelerated its commitment to de-dollarization following sweeping U.S. sanctions on Russia in the wake of the Ukraine invasion.

July Summit Could Mark a Turning Point

The upcoming 17th BRICS Summit, scheduled for July 6–7 in Brazil, could bring the dollar’s future under the global spotlight. Many developing countries are pushing back against Western financial dominance and seeking to chart their own paths toward financial independence.

If the BRICS bloc unveils a new framework for trade and reserves — one that cuts out the dollar entirely — a fundamental shift in global finance could be underway.

As BRICS continues to gain influence, the next decade may usher in a multipolar currency system, diminishing U.S. leverage and expanding financial sovereignty for dozens of emerging economies. 

@ Newshounds News™
 Source: Watcher.Guru   

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“Tidbits From TNT” Friday Morning 6-13-2025

TNT:

Tishwash:  The World Bank expects growth in the Iraqi economy in 2025 and 2026.

The World Bank expects the Iraqi economy to grow by 1.2% this year.

The bank said in statistics reviewed by Shafaq News Agency that "the Iraqi economy is expected to grow by 1.2% this year, up from negative 1.5% in 2024."

He added that economic growth in Iraq is also expected to rise to 4.4% in 2026, before declining to 3.1% in 2027.

He pointed out that "Libya is expected to be the Arab country with the fastest economic growth, with an estimated 12.3%, followed by Djibouti at 5.2%, and then Lebanon at 4.7%."

According to World Bank statistics, "Yemen will have the lowest economic growth, at -1.5%, followed by Syria, with a growth of 1%."  link

Tishwash:  Prime Minister's Office: 100 US requests to participate in Iraq Investment Forum

The Prime Minister's Office confirmed on Thursday that the preparatory committee for the investment forum to be held in Baghdad has received 100 American applications to participate.

Deputy Director of the Prime Minister's Office, Ali Razouki Al-Lami, told the Iraqi News Agency (INA): "Some American companies have submitted a proposal to Prime Minister Mohammed Shia al-Sudani to host an investment forum for Iraq in the United States to bring American companies to the Iraqi arena, in order to support the Iraqi state and boost investment in Iraq."

He pointed out that "a large American investment delegation had previously attended, and agreements were concluded and signed between the National Investment Authority and the US Embassy."

Regarding the investment forum that will be held in Baghdad in the middle of this month, Razouki explained that "the US embassy in Iraq is interested in this forum, as it requested 100 invitations from the preparatory committee, which reflects the embassy's great interest, in addition to the efforts made by the rest of the embassies in this regard."

He indicated that "there are great preparations and we hope that there will be cooperation from everyone to make this forum a success from the first session, so that it becomes a regular annual or biennial forum, to be a reason for opening the Iraqi field to all investors and capital." link

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Tishwash:  Al-Fatah: The smuggling of regional oil will not stop until the oil and gas law is passed.

Ali al-Fatlawi, a leader in the Fatah Alliance, confirmed on Thursday that oil smuggling from the Kurdistan Region will continue unless the oil and gas law is passed. He called on the government and political forces to engage in serious dialogue to reach a final agreement on the law and resolve the accumulated disputes between Baghdad and Erbil.

Al-Fatlawi said in a statement to the Al-Maalouma Agency, “The time has come to give priority to the approval of the oil and gas law, especially after the vote to amend Paragraph (12) of the Federal Budget Law,” stressing that “the approval of the law is the best way to stop the smuggling of oil from the region.”

He added that "the continued smuggling of oil negatively impacts the national economy and causes significant losses to the public treasure," warning of the repercussions of these operations on the country's economic autonomy.

Al-Fatlawi called on political forces to "assume their national responsibilities and exert pressure to expedite the passage of the law by completing the draft and agreeing on its main provisions."

It is noteworthy that media reports indicated that approximately 400,000 barrels of oil are smuggled daily from the Kurdistan Region, in the absence of clear federal oversight and the unknown fate of the financial revenues resulting from these quantities.  link

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Tishwash:   An Iraqi government bank combats suspicious financial transactions electronically "without human intervention.

Rafidain Bank's General Manager, Ali Karim, stated on Thursday that the bank has begun combating suspicious financial transactions, such as money laundering, through electronic technologies.

In a speech delivered at the "Governance Forum" held in Baghdad and attended by a Shafaq News Agency correspondent, Karim said, "Rafidain Bank has taken strategic steps to build an internal governance system that focuses on independence, integrity, and efficiency."

He added that the bank launched a comprehensive corporate risk program that includes operational, interest, and reputational risks, in cooperation with global distribution companies.

Karim continued, "Rafidain Bank recently acquired advanced systems in cooperation with international institutions, through which suspicious financial transactions will be monitored, analyzed, and even thwarted automatically and electronically, without any human intervention."

At the end of May, the Governor of the Central Bank of Iraq, Ali Al-Alaq, affirmed Iraq's commitment to combating money laundering and terrorist financing in cooperation with international partners. link

Mot:  Raising the ""Wee Folks"" and then -- They Have Grandkids!! -- 

Mot:  Nosy Neighbors but Short on $$ -- another ""Tip frum ole Mot""

MM and Crew: IQD-Iraq Dinar-Update-Key Bullet Points- Economic- Banking-Monetary Reform-International Cooperation

MM and Crew:  IQD-Iraq Dinar-Update-Key Bullet Points- Economic- Banking-Monetary Reform-International Cooperation

6-12-2025

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=BdfwVuNwG2c

Iraq Economic News And Points To Ponder Thursday Evening 6-12-25

The US Embassy In Baghdad: The Evacuation Of Our Citizens Is Not Voluntary, But Rather A Mandatory Departure By Official Order

Buratha News Agency1182025-06-12   The US Embassy in Baghdad confirmed on Thursday that the evacuation of its citizens is not voluntary, but rather a mandatory and immediate departure by official order.

An embassy spokesperson stated, according to Arab media, that "the evacuation of our citizens is not voluntary, but rather a mandatory departure by official order." He explained that "the departure is immediate, and we will not reveal the number of departing employees for security reasons."

He added, "The departure order includes the embassy in Baghdad and the consulate in Erbil," stressing that "the departure of non-essential government employees came due to escalating regional tensions."

https://burathanews.com/arabic/news/461277

Rafidain Bank Begins Implementing An Advanced System To Combat Money Laundering And Terrorist Financing

Thursday, June 12, 2025, 18:06 | Economic Number of readings: 164   Baghdad / NINA / The General Manager of Rafidain Bank, Ali Karim Hussein, announced today, Thursday, the commencement of the implementation of an advanced system to combat money laundering and terrorist financing, based on artificial intelligence technologies and electronic systems.

The bank said in a statement, "As part of its commitment to enhancing governance and compliance, Rafidain Bank participated as the official sponsor in the second conference on governance, risk management and compliance, which was held in the capital, Baghdad, with the participation of an elite group of government officials, representatives of the banking and financial sector, and international experts in governance and oversight."

During his speech at the opening of the forum, the General Manager of Rafidain Bank, Ali Karim Hussein, confirmed, according to the statement, that "the bank has begun implementing an advanced system to combat money laundering and terrorist financing, based on artificial intelligence technologies and smart electronic systems, which ensures immediate monitoring and accurate analysis of suspicious financial transactions without human intervention, thus enhancing the efficiency of the internal control system."

He pointed out that "the bank has made significant strides in building a solid corporate governance structure based on the principles of transparency, independence, and integrity, in line with the best international standards and practices, in addition to launching an integrated corporate risk management program covering operational, reputational, and compliance aspects, in cooperation with prestigious international expertise."

The General Manager confirmed that "the bank has recently acquired advanced AML (Anti-Money Laundering) and GOAML systems, in coordination with specialized international institutions, enabling it to detect any suspicious financial activity early and effectively, in line with the instructions of the Central Bank of Iraq and global compliance standards.

" The statement added that "the conference witnessed a group of interventions that addressed the importance of consolidating a culture of governance and compliance in banking work, and the necessity of confronting money laundering as one of the fundamental challenges to ensuring the stability of the national economy." /End   https://ninanews.com/Website/News/Details?key=1233869

Statistics On The Size Of The Central Bank's Foreign Exchange Reserves

Economy | 03:19 - 11/06/2025   Mawazine News – Baghdad   The Central Bank of Iraq announced today, Wednesday, an increase in its foreign currency reserves during the month of May 2025.

The bank stated in an official statistic, reviewed by Mawazine News, that "the foreign reserves of the Central Bank until May 22 of this year amounted to 98.83 billion dollars, equivalent to 128.479 trillion Iraqi dinars, an increase from May 1, when reserves amounted to 97.943 billion dollars, or the equivalent of 127.326 trillion dinars."

It added that "these reserves also increased from April, when they amounted to 98.089 billion dollars, equivalent to 127.516 trillion dinars."

The bank indicated that "reserves decreased from last year's 2024 figure of $100.276 billion, or the equivalent of 130.347 trillion dinars, and are also lower than the 2023 figure of $111.736 billion, or the equivalent of 145.257 trillion dinars."   https://www.mawazin.net/Details.aspx?jimare=262396

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

Iraq Economic News And Points To Ponder Thursday Afternoon 6-12-25

The Resilience Of Fiscal Adjustment Over The Flexibility Of Monetary Adjustment. Mechanisms For Repaying Domestic Public Debt.

‎ On the flexibility of monetary adjustment Mechanisms for repaying domestic public debt Resilience of financial adjustment
 
 Soft Monetary Hegemony:  
 
Over the past few years, the Iraqi economy has witnessed extensive overlap between fiscal and monetary policy, with the Central Bank assuming direct financial roles—from financing the deficit to stabilizing the market—which has led to ambiguity in roles and weakened some aspects of the effectiveness of monetary policy tools at different points in time.

In rentier economies, where natural resources—primarily oil—dominate the structure of public revenues, the problem of the imbalance between the resilience of fiscal adjustment in maximizing non-oil revenues and the flexibility of monetary adjustment emerges, such as the ability to finance inflation or practice a cheap money policy in indirectly financing public budget operations (inflationary finance) by generating cash at the lowest cost, particularly through bond discounting mechanisms and government transfers.
 
Fiscal policy is often constrained by the requirements of inflated public spending, weak revenue diversification, and high social and political obligations.
 
This makes them less adaptable to cyclical shocks or sudden shifts in oil prices and the intensification of oil asset cycles.
 
Alternatively, monetary policy—represented by the central bank—is left alone to confront the repercussions of these shocks, and is required to respond quickly through exchange rate instruments, liquidity injections, or currency market intervention, despite the limited room for maneuver available to it.
 
This is one of the most severe examples of overlap, interaction, or conflict between fiscal and monetary policies simultaneously.
 
The Iraqi economy is currently witnessing a qualitative shift in the balance of power between fiscal and monetary policies.
 
This may represent a potential gradual shift (from strong fiscal dominance to soft monetary dominance), meaning that monetary dominance is neither absolute nor severe, but rather occurs in a flexible and gradual manner, with a degree of coordination with fiscal policy.
 
However, monetary policy does not completely lose its independence, given the legal or broad independence of monetary policy covered by Law No. 56 of 2004.
 
After years of financial dominance, which relied heavily on government spending financed by oil revenues, a new phase began to take shape, with the central bank's role as a key player in controlling macroeconomic balances, particularly through monetary policy tools.

The central bank maintained its independence with degrees of control over inflation and exchange rate management, interspersed with flexible and thoughtful coordination with the fiscal authorities to ensure market stability, ward off the specter of recession, and meet the necessary financing needs of public finances without threatening monetary control.
 
This shift is evident in the disciplined independence of the Central Bank in formulating its policies, its regulation of financing the fiscal deficit through monetary expansion, and the adoption of sometimes stricter and sometimes more flexible measures to control public liquidity and inflation, even if this conflicts with the expansionary objectives of public finance.
 
2   This shift in soft monetary dominance reflects a trend toward enhancing monetary stability. However, it also poses significant challenges for decision-makers in reconciling the imperatives of monetary discipline with the requirements of economic stimulus and sustainable development, in an economy that remains rentier and largely dependent on public spending for its overall activity.
 
(Hard Fiscal Dominance) B- On the other hand, this problem has clearly emerged between public finances, in which they attempt to close aspects of their financing levers to reduce the effectiveness of the central bank’s independent decisions, and (Hard Monetary Dominance).
 
It is highly complex and manifests itself in broad and strict independence, after monetary policy demonstrated levels of tolerance for the emergence of "soft monetary hegemony." Monetary policy is fully independent while simultaneously taking into account the circumstances of fiscal policy during severe economic crises, particularly cycles of declining oil assets and rentier economic obligations.
 
Despite the Central Bank's attempts to implement more flexible and independent monetary policies that fluctuate between two directions, the structural rigidity of public finances, whether in the form of fixed current spending or recurring deficits, has remained an obstacle to building a balanced and stable economic model.
 
This imbalanced dynamic has often burdened monetary policy beyond its natural function, leading to monetary imbalances, such as inflationary expectations, exchange rate fluctuations, and unstable growth in public liquidity.
 
C- Addressing this structural imbalance necessitated reassessing the relationship between fiscal and monetary adjustment, ensuring harmonious flexibility between monetary and fiscal policies. This would achieve a balance capable of absorbing shocks and supporting sustainable development in a highly volatile economic environment exposed to pressures from oil asset cycles.
 
Thus, the expected effects will continue to reduce inflationary pressures, protect the country's foreign currency reserves, and enhance the credibility of the Central Bank domestically and internationally, in addition to paving the way for the issuance of stable domestic debt instruments and sustainable development.
 
The problem of financing public expenditures with oil resources between monetary and financial adjustment:
 
The relationship between financing public expenditures and oil revenues is one of the most prominent structural problems facing the Iraqi economy. Under the dominance of oil revenues, the state has relied for decades on a single source to finance its budgets, leaving it vulnerable to sharp fluctuations in global energy markets. This reality has posed dual challenges in terms of fiscal and monetary adjustment.

At the fiscal adjustment level, fiscal policies failed to build a sustainable, diversified non-oil revenue base or restructure public spending in line with long-term development goals. Public spending was often expansionary during periods of oil abundance and contractionary and harsh during periods of oil recession, without flexible mechanisms to adjust the economic cycle or absorb shocks.
 
3    Regarding monetary adjustment, the Central Bank found itself in a defensive position, sometimes forced to use monetary tools that were not geared toward achieving macro-stability as much as they were to respond to financing pressures resulting from the fiscal deficit, whether by stabilizing the exchange rate or injecting liquidity to cover government obligations. This often led to monetary inflation and imbalances in the currency market.
 
Continued reliance on oil resources to finance expenditures without structural reforms at the fiscal and monetary levels will deepen the fragility of the economy and prevent the development of an integrated fiscal and monetary adjustment system capable of absorbing shocks and achieving stability and growth in the long term.
 
Based on the above, there are two basic mechanisms that monetary and fiscal policies have become accustomed to exchanging roles between them.
 
Monetary Adjustment - Reducing the external value of money (First mechanism:   
 
Any devaluation of the exchange rate, as it often leads to providing leverage for public finances with low purchasing power for government expenditures, and (helps sustain nominal operating expenditures such as salaries, wages, pensions, and social welfare), but (does not help sustain external payments such as debt service, imports, and government external payments) as long as there is a stagnation in expanding the non-oil revenue base (it is simply buying a cheaper dinar financed by the same oil revenues exchanged from the central bank), which means that the fiscal adjustment will become derived from the monetary adjustment, nothing more!!
 
The second mechanism: in the event of enhancing the external value of money
 
The second mechanism: In the event of a monetary adjustment to counter inflationary pressures and expectations, meaning there is a nominal adjustment, public finances will increase the purchasing power of their public expenditures in exchange for a decrease in budget revenues in the nominal dinar.
 
This will be achieved by using fiscal mandates again to maximize non-oil resources.
 
Public finances will be forced to borrow from the government banking market, particularly the largest financial market in our country.

Given the phenomenon of external liquidity leakage according to the country's overall monetary equation, this mechanism will force monetary policy to accept the discounting of government bonds and expand the monetary base through open market operations, as long as foreign currency has been obtained through highly flexible monetary adjustment.
 
This is achieved by the budget bearing a financial deficit financed through the ability of monetary policy levers to provide sufficient liquidity to the government in an ongoing process.

This process now absorbs approximately 50% of the domestic public debt, which is an additional monetary issuance due to financial dominance.
 
4   Domestic public debt repayment and joint policy adjustment: A view of the interaction of the external monetary equation and its equivalents:
 
A- Monetary policy has been able in recent years, through its high foreign reserve capacity, to convert domestic quasi-external money into effective external money for the benefit of public finances.
 
This has been achieved as long as it has the ability to cover the national currency issued by discounting domestic debt instruments held by commercial banks and through open market operations.
 
This coverage rate exceeds 75% for these discounted debt instrument issues covered by foreign exchange reserves, without prejudice to Article 26 of the Central Bank of Iraq Law No. 56 of 2004, which prohibits lending to the government but allows the sale and purchase of foreign currency through open market operations.
 
This means the regeneration of foreign currency, known as MOM, amidst positive factors provided by optimism in the current account of the balance of payments and its impact on the provision of a government borrowing lever from the banking system, which the public finances considered a convenient lever to finance the deficit for the purpose of expanding public spending.
 
Most of this borrowing came from the purchase of treasury transfers to the government banking system.
 
B- On the other hand, the foreign currency issued and operating outside the banking system in our economy is primarily idle cash balances operating outside the banking system.
 
However, it has not constituted a source of disruption to monetary policy or macroeconomic stability, despite the fact that 90% of the monetary issuance is mostly outside the banking system.

5    Noting that idle cash balances outside banks (which are cash held by individuals or institutions and not deposited in the banking system) include liquid cash, money held by economic units in homes, offices, or any other place away from banks.
 
The reasons for keeping cash outside banks, as is well known in our economy, stem from inherited characteristics, including limited trust in the banking system. Some prefer to keep their money in cash due to fears of financial crises at opaque institutions, which are little known.
 
This is in addition to the lack of appropriate banking services, especially in rural areas or those lacking banking infrastructure, or the lack of easy access to the funds held in the grey market or their immediate use when needed.
 
The grey market still accounts for approximately 70% of total market transactions.
 
It is no secret that, in light of the dominance of the grey market, the informal economy has become, in the case of using cash outside banks, merely a tool for avoiding taxes or recording transactions.
 
Despite this, inherited cultural and social reasons favor keeping cash as a traditional method for storing wealth, even today, within the components of the overall monetary economy.
 
These inherited cultural complexes will be transformed by electronic payment methods into inert money, but this time within the banking system, unless they are invested.
 
C- Based on the above, it can be said that semi-external money, which is created by the domestic public debt and amounts to more than 85 trillion dinars (which is one of the factors of monetary issuance and a component of basic money), does not generate any inflationary pressures as long as it is covered by foreign currency, which automatically transforms it into completely external money, rather than being semi-external money. This automatic transformation from semi-external money to external money is governed by two factors:
 
First: Automatic High Coverage of Semi-External Money
 
Second: The rational official exchange rate, which allowed domestic borrowing to reach more than 85 trillion dinars without causing disruptions in the growing liquidity sourced from indirect monetary issuance financing, through the trading and discounting of sovereign bonds and treasury transfers, as mentioned above, at the Central Bank of Iraq.
 
- Hedging against the link between public debt and the money supply issued through domestic borrowing will remain a controversial issue within economic policy circles, both financial and monetary, regarding maintaining economic stability.

This is because the availability of cash balances outside or within the banking system will remain uninvested or unused for a long period of time.
 
This money is often stored in homes, in current bank accounts, or in funds without generating any returns or interest. This is not ideal from an economic perspective, as it leads to the loss of investment opportunities.
 
Therefore, these balances can be invested in projects that generate profits or benefit the national economy.
 
This money is also affected by inflation. The purchasing power of this money may decline over time due to long-term inflation rates, as well as weak economic efficiency, which means that there are uninvested funds that are difficult to utilize as financial resources.
 
However, the question remains: Is there a break-even point for measuring the relationship between the accumulation of domestic public debt held by the monetary authority and foreign reserves in a rentier economy? This is what we will discuss below.
 
6    Joint Monetary Adjustment Operations between Monetary and Fiscal Policies...!/Mechanisms and scenarios for extinguishing domestic public debt:
 
What the national economy and economic policy can bear is monitoring the current account of the balance of payments to the gross domestic product.
 
This requires fiscal policy to work to extinguish domestic debt whenever there is a positive improvement in that ratio.
 
This is an automatic process that should be carried out from outside the framework of the Joint Monetary Adjustment Operations (JMAOs), i.e., adjustments between monetary and fiscal policies in the interest of containing domestic public debt within the financial and monetary systems.
 
As we mentioned, the Central Bank still holds more than 50% of that domestic government debt, which has become the country's monetary basis.
 
In contrast, the traditional default on the principal of domestic debt requires the adoption of a framework of joint fiscal and monetary policies, one of whose priorities is to avoid, when absolutely necessary, reducing the external value of money (the exchange rate) in the event of a default and its extension into the long term, especially if The country's foreign reserves have not decreased without a decrease in the domestic debt balance or the creation of any national assets that the public finances can exchange from the public domain for that debt, according to the strength of the current account indicators of the balance of payments and the oil asset turnover, as external factors influencing macroeconomic stability.

The current account of the balance of payments to GDP ratio is a monitoring factor for the accumulated unpaid domestic public debt, one of the most important indicators for measuring debt sustainability and its impact on long-term stability, particularly the problems of rising inflation rates.
 
This is within the framework of a fiscal policy that seeks financial consolidation, i.e., the annual reduction of the general budget deficit and the reduction of the domestic debt stock to achieve the goals of stability and sustainable economic growth.
 
In this regard, and in order to adopt common principles between monetary and fiscal policies to gradually extinguish the domestic debt, the following solutions can be adopted:
 
Fiscal Adjustment, which is considered one of the adjustment methods.
 
The first: Start by extinguishing the accumulated domestic public debt on the bank's balance sheet. The central bank, whenever that debt approaches the value of marginal external money (foreign reserves), converts the marginal portion of the debt to its equivalent in the value of the annual deficit in the current account of the balance of payments divided by the annual GDP (hybrid monetary-fiscal adjustment).
 
Second: The central bank's acceptance: The monetary authority agrees to waive the annual interest charged on those government financial assets held by the central bank's general budget (i.e., zeroing the annual interest rate) until the general budget situation improves and the deficit gap in the current account of the balance of payments and the general budget, or one of them, is eliminated, and a solid roadmap is initiated to extinguish the public debt held by the monetary authority.
 
 
7   The above does not negate the adoption of a policy to extinguish the accumulated domestic public debt balance in the public finances, which currently constitutes the bulk of the central bank's external assets.
 
Third: Contrary to the second statement above, monetary policy will bear the pressures of the money supply from external currency. If foreign reserves decline, this occurs when the value of issued foreign currency exceeds its equivalent in foreign reserves or assets. This results in two dominant or pressuring trends facing monetary and fiscal policymakers, who face three possible scenarios: First:
 
Debt Inflation Swap: Devaluation of the currency and repayment of domestic public debt. This is the process of exchanging debt for inflation in order to finance the general budget and extinguish part of the debt.
 
Monetary Adjustment, also known as monetary adjustment, is often considered one of the worst types of financing, due to the negative price effects it leaves on overall stability.

Scenario Two:
 
Waiver of the debt amortization share based on a percentage of the Central Bank's annual profits. This is considered good governance of monetary policy, given that the Central Bank's capital is based on allocations from the general budget, and the general budget is responsible for the sustainability of the Central Bank's general budget capital, in accordance with Law No. 56 of 2004.
 
Scenario Two:
 
Finally, if the two scenarios above fail to fully repay the accumulated government debt on the Central Bank's balance sheet, the remaining government debt will be exchanged for real assets, which the monetary authority will use as effective assets in supporting monetary stability.
 
Monetary adjustment (waiver of the Monetary Adjustment aspect) is therefore considered fair for monetary policy to bear the burden of this debt, through annual profits, at a proportionate rate, before fiscal policy is able to waive its real assets for the benefit of the monetary authority's balance sheet to extinguish half of the public finance debt.
 
Fiscal adjustment (which is an optimal collaboration between monetary and fiscal policies to contain domestic debt sustainability problems) for relatively long periods may constitute a constraint on the sustainability of stability within the framework of achieving monetary and fiscal policy objectives.
 
This requires adopting the following solution scenarios:
 
First Solution Scenario: This is the easiest scenario, which requires engaging in high inflationary financing by reducing the external value of money, equivalent to sustaining 75% of operating expenses to extinguish the domestic debt, in exchange for this stability and in the interest of maintaining foreign reserves at the red line.
 
This is a strong or gradual shock approach.
 
However, it is a solution that is politically and socially unacceptable in most cases...!
 
8   The second scenario is the preference for strengthening monetary policy.
 
This is when public finances abandon their possible fiscal adjustments in favor of more flexible monetary adjustments.
 
This represents a sharp political shift from fiscal dominance to monetary dominance.
 
This means that there is a major economic shift in which monetary policy becomes the controlling force over public finances, after fiscal policy had been dominant.
 
This could indicate an extremism in the independence of the central bank, or a greater reliance on monetary tools to control macroeconomic movements and overall economic activity, rather than relying on government spending due to the rigidity of fiscal adjustment.
 

This is constitutionally unacceptable, but it is politically unacceptable in a rentier country that relies on oil revenues to finance public expenditures by 90%.
 
This is especially true when the central bank refuses to finance the fiscal deficit by printing inflationary finance.
 
The dinar, and adheres to strict monetary measures even if they cause financial distress for the government, represents a shift from financial dominance to monetary dominance.
 
This scenario entails granting the central bank broader powers to combat inflation and control the currency market through:
 
a. Establishing a more flexible exchange rate regime.
b. Using open market tools with greater efficiency.
c. Regulating the central bank's intervention in government financing.
 
The third or final scenario (Dual Adjustment Strategy): This scenario is based on a combined dual adjustment strategy.
 
This scenario is determined by combining the first and second scenarios, by reducing (financial dominance) and transforming it from a state of complete abolition to a state of accepting partnership with (monetary dominance) at an equilibrium point that is politically, economically, and legally acceptable.
 
This is a shared will, but it will grant the central bank in a highly rentier country the powers of public finance to protect financial stability and sustainability, and to address the cycles of oil assets.
 
This comes at the forefront of which is the ownership of real government assets that are immediately converted into financial assets and gradually become components of net wealth on the bank's balance sheet.
 
The central bank and market partnership mechanisms in the debt-equity swap process.
 
This is a financial arrangement in which a portion of a state's debt is converted into equity (shares) for assets.
 
It is often used in common cases of financial restructuring, bailing out public companies, or even settling state debt to extinguish the central bank's holdings of government debt instruments and reduce the burden of domestic public debt.

9  Conclusions and Recommendations:
 
Although the third scenario for extinguishing domestic public debt remains more politically and administratively challenging, it is the most sustainable, especially in light of the increasing pressures on public finances and the Iraqi economy's need to develop flexible tools to address crises and reduce its dependence on oil fluctuations.
 
This scenario will achieve a true balance between fiscal and monetary adjustment, leading to prudent management of the economic cycle and providing space for development spending, free from rent-based fragility.
 
However, this does not preclude the implementation of parallel fiscal and monetary reforms within a comprehensive development framework, through:
 
Linking spending to a truly effective benchmark oil price.
 
This prevents excessive spending during periods of high oil prices, reducing the risk of deficits when they fall.
 
It also provides reserve resources that can be used in times of crisis (price declines or disasters).
 
It also provides financial consolidation and makes fiscal policy more stable and predictable. Fiscal Consolidation enhances fiscal discipline.
 
It also requires the importance of establishing a sovereign wealth fund to isolate oil surpluses from current expenditures, as many countries have done, including Norway and other oil-producing countries.
 
Continued close coordination between the Ministry of Finance and the Central Bank within a professional higher committee for economic policies remains a necessary condition for achieving the goals of stability and sustainable development in our country, achieving financial and economic sustainability within the framework of what is called the country's economic vitality, which is usually expressed optimally by the standard of non-oil primary fiscal balances.
 
The Non-Oil Primary Fiscal Balance (NOPEF,s) is a financial indicator used to assess fiscal sustainability in oil-producing countries.
 
It measures the surplus or deficit in the general budget after excluding oil revenues and before calculating debt interest payments.
  
10   Author: Dr. Mazhar Mohammed Salih: Economic researcher and academic. Advisor to the Prime Minister of Iraq.

Ze) Mazhar Muhammad Salih   June 7, 2025    Since 2009 | Phone +9647866296600 | info@iraqieconoists.net |iraqieconomists.net | Copyright Reserved :copyright: 2025

[approximate, incomplete translation of
https://iraqieconomists.net/ar/wp-content/uploads/sites/2/2025/06/د-مظهر-صلابة-التكييف-المالي-على-مرونة-التكييف-النقدي.pdf]
 

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 6-12-25

Good Morning Dinar Recaps,

GENIUS Stablecoin Bill Passes Key Vote, Advances in US Senate

Weeks after a stablecoin bill stalled over Trump-linked concerns, the Senate has advanced the GENIUS Act — a major step in shaping digital asset regulation in the United States.

In a 68-30 vote, the U.S. Senate voted to advance the Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS Act, more than a month after its introduction.

Speaking from the Senate floor on Wednesday, Majority Leader John Thune urged lawmakers to back the bill, echoing many of former President Donald Trump’s talking points on digital assets — including claims that the legislation would help position the U.S. as the “crypto capital of the world.”

“We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that,” said Thune.

A majority of senators — including several Democrats — voted to invoke cloture, setting up the bill for debate and a full floor vote, before potentially sending it to the House of Representatives for further consideration.

Thune acknowledged that there is still “more work to be done” in Congress regarding digital assets, referencing a separate market structure bill in the House: the CLARITY Act, which was recently advanced by two committees and may face a floor vote soon.

Pushback From Democrats

Massachusetts Senator Elizabeth Warren voiced sharp criticism, calling the bill “riddled with loopholes” and warning it lacked adequate safeguards for consumers, national security, and financial stability.

“Through his crypto business, Trump has created an efficient means to trade presidential favors like tariff exemptions, pardons, and government appointments for hundreds of millions, perhaps billions of dollars,” Warren said.
“By passing the GENIUS Act, the Senate is not only about to bless this corruption, but to actively facilitate its expansion.”

Warren also condemned the Senate for not addressing bipartisan amendments and cited ongoing concerns about Trump’s family-linked crypto platform, World Liberty Financial, which rewards memecoin holders with perks such as dinner and access to the president.

Path to Becoming Law

Though many Democrats supported the cloture motion, some are still pressing Republicans for further amendments. It remains uncertain whether the bill will clear the Senate, where Republicans hold only a slim majority.

Following the initial cloture failure in May, David Sacks, Trump’s so-called “AI and crypto czar,” stated that the White House expected bipartisan Senate approval. Meanwhile, the House companion bill — the STABLE Act — was still under consideration by the Financial Services Committee as of May.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

BRICS: The Global Bombshell That Shifts Power Away From the West

The BRICS power shift has catalyzed a critical turning point, as the expanded alliance now includes Saudi Arabia, Iran, UAE, Egypt, and Ethiopia as full members. The bloc has revolutionized global energy control, now commanding over 40% of global oil production, and has surpassed the G7 in purchasing power parity GDP.

Major economic indicators from 2025 reveal that BRICS countries settled over $400 billion in trade without US dollars last year alone, accelerating the move away from traditional currency systems. This shift has helped pioneer an alternative global economic system that strategically bypasses Western financial infrastructure.

How BRICS Power, Oil, and Currency Are Reshaping the Global Map

Energy Dominance Shifts Global Control

BRICS now oversees more than 40% of global oil production, thanks to the inclusion of Saudi Arabia and Iran, whose massive reserves have been pulled under the bloc’s umbrella. Russia contributes significantly to natural gas supply, bolstering BRICS' energy dominance. This alliance was no accident—it was strategically architected through several development phases.

In 2024, Russia began settling LNG trades with India in rupees, and Iran optimized an expansive barter system with China. Meanwhile, Qatar has expressed interest in a “BRICS energy coordination mechanism” that could further transform the global energy landscape.

“Trump’s erratic trade policy decisions and the dollar’s sharp depreciation are probably encouraging a more rapid shift towards other currencies.” — Francesco Pesole, ING

Currency Revolution Accelerates Global Changes

The de-dollarization trend has led BRICS to construct a sweeping network of alternative financial pathways. China and Brazil are now settling bilateral trade in yuan, while India and Russia use a rupee-ruble payment mechanism. Saudi Arabia’s decision to accept yuan for oil sales to China marks one of the most historic developments in global finance.

BRICS has also spearheaded the creation of alternative payment systems that bypass SWIFT. As a result, the U.S. dollar’s share in global reserves dropped to 57.8% in 2024—a substantial decline with far-reaching consequences.

“Countries are looking at the fact that the dollar has been, and can be used as a sort of weapon on trade, direct sanctions, etc… That’s been the real change, I think, in the last several months.” — Mitul Kotecha, Barclays

Economic Realignment Outpaces Western Response

The shift in global economic power between BRICS and the G7 has accelerated faster than most analysts predicted. Bank of America research shows that institutional capital is actively moving away from dollar dependency, and more than 40 countries have submitted membership applications to BRICS.

This expansion is not just economic—it is about sovereignty. BRICS members can now trade freely across major jurisdictions without external approvals. Countries like Nigeria, Thailand, Pakistan, and Venezuela are actively seeking to join the bloc, creating a global network spanning four continents.

“De-dollarization in ASEAN is likely to pick up pace, primarily via conversion of FX deposits accumulated since 2022.”
— Abhay Gupta, Bank of America

“There’s notable FX hedging activity; Japanese life insurers raised their hedge ratio from 44% to 48% in recent months.”
— Craig Chan, Nomura Securities

What began as a five-nation group has evolved into an economic superpower that dominates essential energy supplies and facilitates hundreds of billions in non-dollar trade. Though the U.S. dollar still holds a dominant share of global reserves, its role as the default trade currency is quickly eroding.

The BRICS power shift represents a systematic circumvention of Western financial dominance—not through confrontation, but through construction of an entirely new infrastructure.  

@ Newshounds News™
Source:  Watcher.Guru

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 6-12-2025

TNT:

Tishwash:  Parliamentary Legal Committee: No serious steps have been taken to pass the Oil and Gas Law yet.

Parliamentary Legal Committee member Dara Sekanyani confirmed on Wednesday that no serious steps have been taken to pass the oil and gas law. He noted that passing the law requires consensus and understanding between the parties, something that has not yet been achieved.

“All parties are talking about the importance of approving and passing the oil and gas law, which was included in the government’s work program and was scheduled to be passed, but no serious steps have been taken to pass it yet,” Sekanyani said in a press statement. He explained that “passing the oil and gas law concerns all of Iraq and requires understanding between all parties. It requires some kind of agreement and consensus, but so far this consensus and understanding has not been achieved between the political parties in Iraq and the region.”

He added, "If the oil and gas law is passed, the oil and gas issue between the Kurdistan Regional Government and the federal government will be resolved, and some of the issues between them will be resolved, provided that all parties commit to implementing the law after its passage."  link

Tishwash:  Al-Karawi: We filed a lawsuit against the government due to the delay in the budget schedules

Member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, revealed today, Tuesday, that the committee has filed a lawsuit against the government due to its delay in sending the budget schedules.

Al-Karaawi said in a statement to / Al-Maalouma / agency, that “the suspension of new employment and appointments is based on Article (14) of the Budget Law, which stipulates the suspension of contracting and appointment, with the exception of 150 job grades regulated within the budget text, in addition to some excluded categories in institutions affiliated with the Ministry of Education.”

He explained that "these exceptions have already been implemented or government institutions have begun implementing them. As for new contracts or daily wages, there is no explicit text in the budget that allows them to proceed with them, which makes them a subject of continuous discussion in Parliament sessions, especially with regard to the confirmation of contracts."

He added that "the first half of the year is about to end, and the budget has not yet been included on Parliament's agenda," stressing that "this matter constitutes a clear violation of the Budget Law, especially Article 77/Second Paragraph."

He pointed out that he "filed a lawsuit with the Public Prosecution Office more than two weeks ago, due to the delay in sending the budget and the existence of financial violations related to the Kurdistan Regional Government's allocations, as more than 4 trillion dinars spent were above the approved allocations."
Al-Karawi confirmed that "the Public Prosecution Office has begun investigation procedures to find a solution to the crisis," suggesting that the reason for the government's delay in sending the budget is the lack of financial liquidity and the absence of real solutions to the financing and cash crises, in addition to ignoring fluctuations in oil prices.

It is noteworthy that the budget for the years (2023-2025) was legislated in a three-part formula for the first time in Iraq's history, but the government has not sent its annual schedules yet, which has sparked angry parliamentary and popular reactions.  link

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

Tishwash:  Mazhar Saleh: Stabilizing inflation is one of the most notable successes of Iraq's economic policy.

6/11/2025

 The Prime Minister's economic advisor, Mazhar Mohammed Salih, confirmed that one of the most significant successes of Iraq's economic policy this year has been the stability of the general price level, or inflation, growth rate. He noted that the annual inflation rate is approaching, for the first time in many years, the natural break in price growth, which amounts to about 3% or less, according to statistical inflation indicators.

 Saleh explained in an interview with Al Furat News Agency that "this significant price stability is due to the combination of economic policy objectives to maintain the purchasing power of citizens' cash income and overall macroeconomic indicators, which represents an addition to real income for citizens and a good indicator of the investment and business climate." 

He pointed out that "among the factors that contributed to achieving these successes is the general budget's allocation of price support within fiscal policy, which constitutes more than 13% of GDP. This is a high and significant percentage, and goes towards subsidizing the prices of government services, in addition to fuel and food basket subsidies, farmer support, and other types of support."   LINK

Mot:  . More ole ""Mot"" Wisdum frum da Internet!!! 

Mot: Seeee !! -- Soooo many Thrills as Ya Season!!!  

MilitiaMan and Crew: Iraq Dinar Update-TIR Agreement-Global Trade Map-Integration-Salaries-Oil Pipeline-Exchange Rate

MilitiaMan and Crew:  Iraq Dinar Update-TIR Agreement-Global Trade Map-Integration-Salaries-Oil Pipeline-Exchange Rate

6-11-2025

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=I3nROBBixHM

Iraq Economic News And Points To Ponder Late Tuesday Evening 6-10-25

An Expert Reveals The Reasons For The Dollar's Decline In Iraq.

Time: 2025/06/10 18:06:13 Reading: 735 times  {Economic: Al Furat News} Economic expert, Duraid Al Anzi, confirmed that the decline in exchange rates in the country is primarily due to the lack of foreign currency transactions in trade with neighboring countries, in addition to the collapse of these countries' currencies against the US dollar.

Al-Anzi explained to Al-Furat News Agency, "This situation negatively impacts desire and increases demand for the dollar, which prompts governments in neighboring countries to reduce imports to Iraq."

He pointed out that "the local market is witnessing an abundance of many local products, which reduces the need for black market traders to demand dollars." LINK

The Investment Commission Announces Details Of The First Investment Forum In Iraq.

Buratha News Agency1902025-06-10   The National Investment Commission (NIC) announced details of Iraq's first investment forum on Tuesday, noting that the forum has strategic objectives to accelerate economic development. NIC Chairman Haider Makiya told the official news agency, "The upcoming investment forum, organized by the commission, is the first of its kind since its establishment, and has strategic objectives to accelerate economic development in the country."

He added, "The forum seeks to introduce the 141 available investment opportunities, all of which have received official approvals and are ready to be presented to local, Arab, and foreign companies." He explained that "the opportunities cover diverse sectors, including industry, housing, renewable energy, communications, pharmaceuticals, agriculture, and others."

He added, "The forum aims to attract the largest possible number of foreign and Arab companies to participate in infrastructure projects in Iraq, in addition to introducing international expertise to quality projects, in line with the investment law that requires the employment of skilled and unskilled Iraqi workers in projects."

Makiya pointed out that "the event will be attended by more than 300 international entities, including countries and companies, representing a historic opportunity to showcase Iraq's investment potential." https://burathanews.com/arabic/economic/461151

Al-Haims: E-Governance Enhances The Transparency Of Institutional Work 

June 10, 2025  Baghdad - Saad Mohammed Al-Kaabi  The Chairman of the Communications and Media Commission, Nofal Abu Raghif, discussed the activation of an agreement described as a legal and professional umbrella to preserve the confidentiality of technical and commercial data related to coordination and exchange operations between institutions.

A statement received by Al-Zaman yesterday stated that “the meeting reviewed the executive steps of the national roaming project and the activation of the NDI disclosure agreement, within the framework of the Authority’s efforts to establish the rules of fair competition and develop the communications infrastructure,

in addition to discussing the interim regulatory framework for the implementation of national roaming, in a way that ensures the expansion of the scope of geographical coverage and enable citizens to access communications service, by adopting a fair and transparent mechanism that guarantees the rights of all and prevents any exclusionary or monopolistic practices.”

Digital Inclusion

Abu Raghif pointed out that "this service is one of the most important tools for digital inclusion, which stimulates the market environment towards innovation and integration, praising the spirit of cooperation between the two sides while achieving digital and professional openness to move to an advanced stage in the telecommunications sector."

 The Authority renewed "its full commitment to follow up on the implementation of national roaming mechanisms according to a clear timetable, to ensure regulatory compliance and achieve the reform goals in the telecommunications sector." Abu Raghif and the American company SpaceX Starlink, hosted by Prime Minister Mohammed Shia Al-Sudani, discussed facilitating the company's work in Iraq.

Yesterday's statement said, "The Iraqi side welcomed the company's work to support network, information and communications technology," noting that "Iraq includes many promising investment opportunities in light of the rapid urban and service growth and expansion it is witnessing."

Al-Sudani instructed the concerned authorities to study ways to facilitate the company's work and expedite the necessary measures, stressing the importance of cooperation with the Iraqi private sector, within the vision of digital transformation.

The company's delegation expressed its "readiness to operate in Iraq, provide services, and cooperate in the Iraqi market," stressing that "Starlink services contribute to digital transformation and its applications for public and private sector institutions, developing communications, and strengthening the economic sector within the framework of bilateral cooperation between the two countries."

Abu Raghif and Vodafone International discussed the phases of operating the national mobile phone company. The meeting emphasized the importance of the project receiving direct government support, aligning with the priorities of the national program in the areas of digital transformation, and expanding the base of strategic partnerships with international companies with solid experience.

The two sides discussed the general outlines of the proposed timeline, including the pilot phase and commercial launch, as well as discussing the mechanisms for sharing infrastructure, especially with regard to towers and data centers, as they are the basic pillars for a sustainable and secure launch,

in addition to ways to benefit from Vodafone Group’s expertise in supporting emerging markets, and comparing similar experiences in countries experiencing similar circumstances, as well as transferring experiences and institutional knowledge in a way that consolidates the professional path of operation and maintains the balance between service and investment.

Launch Guide

According to the statement, in a related development, the Chairman of the Iraqi Securities Commission, Faisal Al-Humais, indicated that the launch of a guide to environmental, social, and corporate governance standards for companies is likely to continue efforts to enhance transparency in the operations of companies across all economic sectors, including telecommunications, industry, and tourism.

Al-Haims said on the sidelines of the launch ceremony of the guide, followed by (Al-Zaman) yesterday, that “the activation of the guide for environmental and governance standards was done in cooperation with the International Finance Corporation, and with financial support from the Kingdom of the Netherlands,”

noting that “the guide has a great impact on the application of transparency in companies in the Iraqi Stock Exchange, and this is an extension of the work of the Central Bank, within the framework of its launch of the governance guide for financial institutions listed in the market,” according to his expression.

He explained that it will be more comprehensive for all sectors, whether communications, industry, tourism or hotels, and will be reflected in increasing the quality of economic activities and financial transactions, by enabling investors to obtain complete information with a great deal of transparency, to support their investment decision, according to what he mentioned.

Al-Haims added that the application will be fully launched next year.  LINK

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 6-11-25

Good Morning Dinar Recaps,

CRYPTO INDUSTRY LEADERS RAISE CONCERNS OVER CLARITY ACT’S ‘GENSLER-ERA’ AMENDMENT AHEAD OF MARKUP

Crypto industry players are raising red flags over a new section added to the Digital Asset Market Clarity (CLARITY) Act of 2025 ahead of today’s markup session, warning that it closely resembles the aggressive regulatory posture of the prior administration.

Crypto Industry Players Raise the Alarm

On Tuesday, crypto stakeholders voiced their concerns over the newly amended text of the CLARITY Act. According to journalist Eleanor Terret, industry leaders have described the added provision as a “Gensler-era” measure, reviving fears about unclear and burdensome oversight.

The legislation, introduced on May 29 by Chairman of the House Financial Services Committee French Hill, is intended to build a comprehensive regulatory framework for digital assets in the U.S., promising the clarity and protection long sought by the crypto industry.

The bipartisan bill aims to:

• Protect consumers by requiring developers and customer-facing companies to provide essential disclosures.

• Safeguard client assets by mandating separation of customer and corporate funds.

• Support innovation, offering developers a regulated path to raise capital under government oversight.

“Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation, and builds off our work in the 118th Congress,” Hill said in a statement last month.

However, Terret reported that the new amendment would “eliminate exemptions for previously issued tokens,” thereby giving the Securities and Exchange Commission (SEC) broad discretionary power to determine on a case-by-case basis whether each token constitutes a security.

Critics argue this move undermines the entire purpose of the bill, warning it may reintroduce regulatory uncertainty that the bill was initially designed to resolve. Some investors fear the amendment could enable a system of “winners and losers” determined by the SEC’s discretion.

Political Opposition Grows

The legislation has also drawn sharp criticism from Democrats. Some argue that it could create opportunities for former President Donald Trump to benefit financially through crypto-related ventures.

Rep. Maxine Waters (D-Calif.) was especially vocal, stating:

“This rushed, overly complicated bill will increase investor harm, which already runs rampant in today’s crypto market.”

She continued:

“Some of the riskiest activities are broadly exempted from the bill, leaving our constituents with no one to turn to when their money vanishes. The bill puts our national security at risk and contains no penalties for crypto criminals.”

Momentum Builds with the BRCA Inclusion

Despite the controversy, the bill gained momentum with the inclusion of the Blockchain Regulatory Certainty Act (BRCA), which provides legal protections for non-custodial software developers and infrastructure providers.

As reported by Bitcoinist, eight major crypto policy groups signed a joint statement urging Congress to add the BRCA to the CLARITY Act. The BRCA was reintroduced on May 21, 2025, by Rep. Tom Emmer (R-MN) and Rep. Ritchie Torres (D-NY).

On June 8, the revised version of the CLARITY Act incorporated the BRCA, clarifying that non-custodial, peer-to-peer developers should not be regulated as money transmitters. In a joint statement, the crypto policy groups said:

“This is a meaningful step toward protecting developers of non-custodial, peer-to-peer technologies while maintaining strong oversight of custodial financial institutions.”

They added that the updated bill reflects a balanced regulatory approach, building on FinCEN’s 2019 guidance.

Industry Support Persists Despite Concerns

Even with the inclusion of the controversial amendment, major crypto firms such as Coinbase remain supportive. The company issued a statement asserting:

“Bipartisan momentum is building. Lawmakers from both sides agree: it’s time to protect consumers and unlock American innovation with clear crypto legislation. As Congress prepares for a key vote to advance the CLARITY Act, the message is clear: vote YES.”

Next Steps for the CLARITY Act

As of the time of writing, the CLARITY Act passed the House Committee on Agriculture markup with a decisive 47–6 vote, following nearly three hours of debate. The bill will now move to the House Financial Services Committee for further review, as reported by Terret.

@ Newshounds News™
Source: Bitcoinist

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XRP LEDGER DEVS PLAN SIDECHAIN LAUNCH IN Q2 FOR ETHEREUM COMPATIBILITY

▪️ XRP Ledger plans to launch an EVM sidechain in Q2 2025 to gain Ethereum compatibility.
▪️ Ripple CTO David Schwartz announced the timeline at the Apex 2025 event in Singapore.

The XRP Ledger (XRPL) — a blockchain closely associated with cross-border payments company Ripple — is preparing to launch an Ethereum Virtual Machine (EVM) sidechain in the second quarter of 2025, in a significant move to bridge Ethereum smart contracts into its ecosystem.

This EVM-compatible sidechain aims to enable Ethereum-based smart contract functionality while preserving XRPL’s signature low-cost and high-speed transaction model.

Ripple’s Chief Technology Officer David Schwartz formally announced the upcoming launch during the ongoing Apex 2025 event in Singapore, according to Peersyst, one of the project’s principal development partners.

What the Sidechain Will Do

The EVM sidechain is a parallel blockchain that will run alongside the XRP Ledger. It is being developed by contributors Ripple and Peersyst, and is built using the evmOS software stack.

▪️ The sidechain is already live on testnet, serving as a trial environment to ensure functionality and performance.
▪️ A mainnet launch is expected to follow in Q2 2025 after further testing and the onboarding of validator partners.

Why Ethereum Compatibility Matters

While XRPL has its own support for native smart contracts, it does not currently support the Ethereum Virtual Machine (EVM) — the dominant development environment for decentralized applications (dApps) on Ethereum.

This limitation has meant that Ethereum developers could not easily port their applications to the XRP Ledger. The EVM sidechain solves that by bringing Ethereum-style programmability directly to the XRPL ecosystem.

Other projects like Flare Network also provide EVM-compatible smart contract capabilities that integrate with XRPL, but this new native sidechain represents a first-party, in-house solution from Ripple contributors.

Bridge Connectivity: Powered by Axelar

The EVM sidechain will connect to the XRP Ledger mainnet through a bridge mechanism. Specifically, Axelar has been selected as the exclusive bridge provider for the sidechain.

This bridge will enable transfer of assets, such as wrapped XRP, which will act as the native gas token on the sidechain.

This initiative represents a strategic leap toward greater interoperability between XRPL and the wider Ethereum ecosystem, expanding XRPL’s reach and relevance in the world of decentralized finance (DeFi) and smart contract-based applications.

@ Newshounds News™
Source:  Source: The Block

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🇷🇺 BRICS: Oil Giant Eyes Chinese Yuan Bonds, Ignores US Dollar Assets
Kazakhstan’s KazMunayGas makes landmark shift toward de-dollarization

In a major financial pivot, Kazakhstan’s state oil and gas giant KazMunayGas is preparing to ditch US dollar bonds in favor of Chinese yuan-denominated debt, including dim sum and panda bonds.

Why the shift?
Yuan-based bonds offer cheaper debt options compared to US Treasuries — aligning with BRICS’ push to reduce USD dependence.

 “We looked at all options… Currently, there is a possibility to sell dim sum and panda bonds,” said CEO Askhat Khassenov to Bloomberg. “They offer rather good conditions.”

The move follows growing BRICS influence encouraging global firms to explore non-dollar financial instruments.

• Dim sum bonds = yuan bonds traded offshore

• Panda bonds = yuan bonds issued by foreign entities inside China

This marks the first time KazMunayGas sidelines US dollar assets — and may signal a larger trend among other BRICS-aligned oil firms.

@ Newshounds News™
Source:  Watcher Guru

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