Iraq Economic News and Points To Ponder Monday Evening 6-23-25

Through 26 Axes, Iraq Is Developing Plans To Develop Its Trade Policy Locally And Globally.
 
Yesterday  Baghdad - INA - Amina Al-Salami  The Ministry of Trade announced plans on Saturday to develop infrastructure by   digitizing services to  accelerate trade and   reduce costs. While indicating that  the next phase requires  political will and  economic stability  to prepare Iraq for an effective partnership in the global economy, the Ministry emphasized the need to strike a balance between  protecting the national economy and    global openness, as well as  preparing for accession to the World Trade Organization.

Ministry of Trade spokesman Mohammed Hanoun told the Iraqi News Agency (INA):
 
"The Ministry of Trade's plans to develop Iraq's trade policy include   updating the legal and legislative structure by   reviewing existing trade laws to   comply with the requirements for joining the World Trade Organization, such as the   Consumer Protection Law, the  Competition Law, and the   Anti-Dumping and Subsidy Law, and enacting new laws regulating    intellectual property,  e-commerce, and  data protection,  which are among the requirements of a modern market environment." 

He pointed out that "the Ministry has adopted a more open and diversified trade policy by  restructuring its trade policy to  ensure a balance between protecting national products and opening up to international markets,  expanding bilateral and multilateral trade partnerships, particularly with  Arab countries,  neighboring countries, and  European and Asian markets, in addition to   simplifying foreign trade procedures and  reducing non-tariff barriers to facilitate the entry and exit of goods and services." 

Hanoun pointed to
     "supporting and developing the private sector by enabling it to
     become a true partner in commercial activity by
     providing export incentives,
     supporting small and medium-sized enterprises capable of entering foreign markets, and
     qualifying local industries to compete regionally and internationally." 

He explained that  "developing the trade infrastructure by digitizing commercial services   (such as company registration, issuing certificates of origin, and commercial contracts),  developing the international exhibition system,  activating the role of the General Company for Exhibitions to support the  promotion of Iraqi products, and   improving the performance of ports and border crossings in coordination with other entities to  accelerate trade flow and   reduce costs." 

He added,"The development plans also include joining the World Trade Organization (WTO), resuming technical negotiations with the organization by  updating the Iraqi accession file (which was frozen for long periods), and submitting offers on customs tariffs and market services, in accordance with the organization's requirements,

in addition to building the capacity of technical cadres in the Ministry of Trade and related institutions  to enable Iraq to negotiate efficiently, while coordinating with other ministries to prepare the economic and administrative environment  in line with WTO standards."  

He explained that "the plans also include transparency and business governance by enhancing the principle of  transparency in commercial data through the  regular publication of reports, prices, and indicators, and  combating corruption and monopoly in the local market by  activating regulatory bodies and  implementing competition laws." 

He continued, "We seek to  achieve a balance between protecting the national economy and global openness, with a focus on preparing Iraq to join the World Trade Organization through  legislative and institutional reforms,  empowering the private sector, and  developing the trade and services environment."

 He noted that "the  next phase requires  political will,  economic stability, and  comprehensive national coordination   to qualify Iraq to be an effective partner in the global economy."    https://ina.iq/ar/economie/236928-26.html 

Iraq Suspends Official Work Next Thursday

Buratha News Agency  25-06-23   The General Secretariat of the Council of Ministers announced, today, Monday (June 23, 2025), an official holiday next Thursday on the occasion of the first of Muharram and the Islamic New Year.

The General Secretariat stated in a statement that "Thursday, June 26, 2025," is an official holiday for all government institutions, coinciding with the first of Muharram and the advent of the Islamic New Year.

She added, "The Cabinet Affairs and Committees Department of the General Secretariat has directed ministries, non-ministerial entities, and all governorates to take the necessary measures and act in accordance with this directive."   https://burathanews.com/arabic/news/461924

Gold Prices Rise As Investors Seek Safe Havens Amid Middle East Tensions

Monday, June 23, 2025 | Economic Number of reads: 133  Baghdad / NINA / Gold prices rose on Monday, as investors flocked to safe-haven assets amid growing fears of an escalation in the Middle East conflict, as markets closely monitor Iran's response to the US attacks targeting its nuclear facilities.

By dawn today, gold rose 0.1% in spot transactions to $3,371.30 per ounce. US gold futures settled at $3,387.20 per ounce. / End   https://ninanews.com/Website/News/Details?key=1236930

Basra Crude Oil Prices Stabilized In Monday's Trading.

Monday, June 23, 2025 | Economic Number of reads: 224  Baghdad / NINA / Iraqi oil prices stabilized on Monday during daily trading in the global market. According to global oil market data, Basra Medium crude oil recorded $75.11 per barrel, while Basra Heavy crude oil recorded $72.16 per barrel, with a change rate of -0.67 for both.

Global oil price data showed that British Brent crude oil recorded $78.28, while US West Texas Intermediate crude oil recorded $75.08 per barrel, with a change rate of +1.27 and +1.28, respectively. / End  https://ninanews.com/Website/News/Details?key=1236951

The Dollar Price Fell In Baghdad At The Opening Of Trading On Monday

Economy | 06/23/2025   Mawazine News – Baghdad  The US dollar exchange rate fell on Monday morning in the markets of the Iraqi capital, Baghdad. The Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded a decline in the dollar exchange rate to 143,700 Iraqi dinars for every $100, after it was 144,000 dinars yesterday, Sunday.

The selling price at exchange offices in the local markets in Baghdad reached 144,750 dinars for every $100, while the buying price reached 142,750 dinars. https://www.mawazin.net/Details.aspx?jimare=262974

Iraq Ranked First In The Arab World In Tourism To Türkiye During The Month

Money and Business  Economy News – Baghdad   The Turkish Ministry of Culture and Tourism announced on Monday that Iraq ranked first in the number of Arab tourists visiting the country during April of this year.

The ministry stated, in statistics reviewed by "Al-Eqtisad News", that Iraq topped the Arab countries in the number of tourists during the month of April 2025, as the number of tourists reached 65,587 people, followed by Saudi Arabia with 52,947 tourists, Jordan came third with 19,000 tourists, then Lebanon came fourth with 17,000 tourists, and Kuwait came fifth with 11,000 tourists.

She added that the UAE came in sixth place with 8,000 tourists, Qatar seventh with 3,000 tourists, and Yemen eighth with 2,000 tourists.   https://economy-news.net/content.php?id=56542

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

Iraq Economic News and Points To Ponder Monday Morning 6-23-25

Qi, K2 Integrity Partner To Raise Iraq’s Financial Compliance Standards
 
Business     Iraq     Iraqi News     June 23, 2025     246    Baghdad (IraqiNews.com) – Iraqi fintech Qi has partnered with US-based K2 Integrity to  upgrade its compliance systems and  align Iraq’s financial sector with global standards.
 
The agreement includes   the establishment of a compliance hub in Jordan and   an innovation center in the UAE, supporting operations across the region.

The 36-month roadmap will see K2 Integrity
     revamp Qi’s financial crime compliance framework,
     train staff, and
     implement international best practices.
 
Qi Chairman Bahaa Abdul Hadi said the move reflects a commitment to
     transparency and
     economic leadership in Iraq.
 
“This is about Iraq’s future.  We are investing to meet the highest global standards.”
 
Qi, Iraq’s largest electronic payment platform,
     serves over 10 million users and
     plays a central role in the country’s financial ecosystem.
 
K2 Integrity’s involvement is seen as a 
     vote of confidence in Iraq’s ongoing economic reforms.    
  
https://www.iraqinews.com/iraq/qi-k2-integrity-partner-to-raise-iraqs-financial-compliance-standards/

Baghdad And Ankara Discuss Exporting Iraqi Oil Through Turkish Territory.

Energy  Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed with his Turkish counterpart, Hakan Fidan, the export of Iraqi oil through Turkish territory on Sunday.

The ministry said in a statement, "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met today, Sunday, with Turkish Foreign Minister Hakan Fidan, on the sidelines of their participation in the meeting of foreign ministers of the member states of the Organization of Islamic Cooperation, held in Istanbul."

The statement added, "During the meeting, the latest regional developments were reviewed in light of the escalation resulting from the war on Iran and the targeting of nuclear facilities yesterday, Saturday."

The two sides stressed the importance of enhancing joint cooperation to limit the expansion of the conflict, and the need to support political and diplomatic initiatives aimed at containing the crisis and preventing its escalation.

In the context of bilateral relations, Fuad Hussein discussed the issue of water releases into Iraq, noting "the significant decrease in water quantities coming from Türkiye."

Minister Hakan Fidan promised to "intervene with the relevant authorities in his country to follow up on this issue in a way that guarantees the interests of both parties."

The two sides also discussed the issue of Iraqi oil exports via Turkey, with Hussein stressing "the importance of accelerating technical and administrative coordination to resume oil pumping through the Turkish port of Ceyhan, given the significant impact this issue will have on the Iraqi economy, given the threats and challenges facing the region."

He affirmed Iraq's readiness to fully cooperate in this regard, in a way that enhances common interests.

84 views  https://economy-news.net/content.php?id=56513

The Presidencies Hold A Meeting At The Baghdad Palace To Discuss Developments In The Region.

Local  The Presidency's Media Office announced on Sunday that the presidencies held a meeting at the Baghdad Palace to discuss developments in the region.

In a brief statement, the office said, "The presidencies held a meeting at the Baghdad Palace to discuss developments in the region."  77 views  https://economy-news.net/content.php?id=56521

A Significant Increase In US Imports Of Iraqi Oil

Energy  Economy News – Baghdad  The US Energy Information Administration announced on Sunday that the United States increased its oil imports from Iraq over the past week.

The administration said in a table seen by Al-Eqtisad News that "the average US crude oil imports during the past week from 10 major countries reached 4.964 million barrels per day, a decrease of 492 thousand barrels per day from the previous week, which reached 5.456 million barrels per day."

She added that "Iraq's oil exports to the United States reached an average of 213,000 barrels per day, an increase of 129,000 barrels per day compared to the previous week's average of 84,000 barrels per day."

The administration also indicated that "the largest US oil revenues during the past week came from Canada, at a rate of 3.223 million barrels per day, followed by Mexico, at a rate of 394,000 barrels per day, Saudi Arabia, at an average of 356,000 barrels per day, Brazil, at a rate of 173,000 barrels per day, and Nigeria, at a rate of 137,000 barrels per day."

According to the table, "US crude oil imports from Ecuador averaged 136,000 barrels per day, from Venezuela 132,000 barrels per day, from Colombia 110,000 barrels, and from Libya 90,000 barrels per day."  112 views  Added 06/22/2025 - https://economy-news.net/content.php?id=56492

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

Iraq Economic News and Points To Ponder Monday Morning 6-23-25

Economist Warns Of Recession Signs: Low Inflation Is A Warning Bell

Economy 20-06-2025, 12:13 | 514  Baghdad Today – Baghdad  Economic expert Munir Al-Obaidi warned on Friday (June 20, 2025) of signs of recession that could turn into a broader crisis affecting the Iraqi economy,  indicating that the decline in inflation is a warning bell for the recession phase.

Al-Obaidi said in a post on his Facebook page, which was followed by Baghdad Today:
 
"The Iraqi Statistical Authority announced a decline in the country's monthly inflation rate by 0.3% during the month of April, while the annual  general inflation rate recorded 1.6%, and  core inflation 0.6%."  

He added, "It is noteworthy that food prices continued to rise by 3.2% annually, despite declines in the prices of bread, meat, and fish.
 
This is due to sharp increases in the prices of fruits and vegetables, which rose by 13.7% and 8.4%, respectively."  He pointed out that, "In contrast, tobacco prices declined by a significant 26%, while
clothing and footwear prices saw a slight annual increase of 2%.
 
Household appliances recorded a 1% decline, while furniture and office equipment prices rose by 0.5%."  He pointed out that "in terms of geographical distribution, the annual inflation rates, by region, were  1.1% in Kurdistan,  1.4% in the central governorates, and  3.1% in the southern governorates."

Al-Obaidi explained that “the decline in prices, despite its positive impact on citizens, especially in sectors such as electrical appliances and furniture, may reflect a state of stagnation in the market,
as a result of   weak consumer confidence,  lack of liquidity, and a  decline in financing provided to the private sector, especially with the  weakness of insurance services provided by financial institutions.”  

He indicated that “although the decline in inflation may appear to be a positive indicator, it may also be an alarm bell for a phase of recession, threatening to  reduce job opportunities in the private sector and
 weaken the ability of local products to compete due to rising costs, which may lead to further pressure on the government sector in light of the high unemployment rates.”

 He continued, "What is required today is to closely monitor economic indicators and take serious steps to stimulate economic activity and support the private sector, so that signs of recession do not turn into a broader crisis that affects the entire Iraqi economy."    https://baghdadtoday.news/276915-.html

The Central Bank Participates In A Workshop On Governance And Compliance In The Field Of Money Laundering And Terrorist Financing.
 
June 22, 2025 The Central Bank of Iraq's Mosul branch participated in the "Governance and  Compliance in the Field of Money Laundering and Terrorist Financing" workshop, organized by Rashid Bank in Mosul Governorate.
 
The workshop emphasized the need to  enhance employees' and officials' understanding of the importance of  anti-corruption,  money laundering, and  terrorist financing measures, as well as to  implement local and international best practices in this area.

The workshop sought to highlight the importance of enhancing the bank's role through  financial inclusion initiatives and providing the best banking services to citizens.    
Central Bank of Iraq    Media Office    June 22, 2025   https://cbi.iq/news/view/2914 

Public Debt Challenges
 
Economic 06/23/2025  Yasser Al-Mutawali Public debt, in all its forms and varieties, whether external or domestic, is one of the most complex challenges facing countries,  especially developing countries and even those poised for growth.
 
One of the most prominent policies of   international capitalist institutions and banks is to  drown countries in foreign debt with the aim of  dominating and controlling them and  containing their economies (economic colonialism) or (economic monopoly), call it what you will, including some multilateral financial institutions,  by imposing on borrowing countries firm reforms that appear to improve the economic situation but in reality make their economies completely subservient to the wills and policies of the countries.
 
Perhaps the public (external) debt is a double-edged sword  for those who do not invest it well in   developing economic sectors and  achieving development that leads to stability.
 
If the public debt is for consumer spending purposes, then this is where the ultimate disaster occurs.
 
This policy pursued by international institutions has created a sense of international frustration,
particularly with the use of debt as a weapon against countries and the imposition of binding sanctions.
 
Therefore, you find that most countries, especially the superpowers, are at the forefront of those seeking an alternative to the dollar as a unit of measurement for  trade transactions,  debts, stocks, and  bonds.
 
I was once struck by a statement made by someone, from an economic analysis perspective, that the 
incurrence of domestic debt has no impact on the financial situation, which is truly surprising.
 
Public (domestic) debt is sometimes worse than external public debt,  especially if it is used outside budget allocations or purposes, such as  political purposes or for  liquidity purposes to cover excessive operating expenses, etc.
 
This debt often relies on foreign exchange reserves, which erode them. 
This poses a risk of accelerating financial crises.
 
Domestic public debt increases the budget deficit,  which in turn impacts  inflation rates,  rising prices, and a  lack of liquidity.
 
This highlights the eternal contradiction and overlap between monetary and fiscal policies.
 
While monetary policy seeks to reduce annual inflation growth rates and increase foreign exchange reserves, fiscal policy implements government policies that contribute to government spending,
which sometimes intersects with the goal of monetary stability.
 
This imbalance in our experience in Iraq may be due to the absence of sovereign funds that would     balance these two policies and  achieve their developmental and financial stability objectives.
 
Therefore, the monetary authority needs efficient management to     achieve financial and monetary stability and thus   economic stability on an ongoing basis.     https://alsabaah.iq/116419-.html  

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

Seeds of Wisdom RV and Economic Updates Monday Morning 6-23-25

Good Morning Dinar Recaps,

Senator Lummis’ RISE Act: A Step Toward AI Accountability or a Shield for Developers?

The RISE Act aims to define liability boundaries for AI in professional settings—but critics say it leaves too much unsaid and too many developers untouched.

A “Timely and Needed” Start—But Is It Enough?

Senator Cynthia Lummis introduced the Responsible Innovation and Safe Expertise (RISE) Act of 2025, which seeks to define civil liability protections for AI developers in professional settings like healthcare, law, and finance. While some view the bill as an essential first step, others are concerned that it places too much risk on professionals and not enough responsibility on developers.

Lummis calls it the nation’s “first targeted liability reform legislation for professional-grade AI.” But critics argue that the bill protects AI creators more than the users or the public.

“It puts the bulk of the burden of risk on ‘learned professionals’… and provides [developers] with broad immunity otherwise,” said Hamid Ekbia, professor at Syracuse University.

What the RISE Act Proposes

• AI developers would be shielded from certain civil lawsuits unless negligence or intent is proven.

• Developers would be required to publish model specifications (e.g., model cards), enabling professionals to make informed decisions.

• It does not address use cases where AI interacts directly with consumers, including vulnerable groups like minors.

The bill is narrow in scope, focusing primarily on AI used by professionals. Cases like a Florida teen’s suicide after extended chatbot interaction are not covered.

Critics Warn of a “Giveaway” to Big Tech

Platforms such as the Democratic Underground have labeled the bill a potential “giveaway” to AI companies looking to evade accountability.

However, legal experts like Felix Shipkevich argue the bill is not overly lenient but “rational,” especially considering the unpredictability of large language models:

“Without some form of protection, developers could face limitless exposure for outputs they have no practical way of controlling,” he said.

Transparency: A Missing Link?

The AI Futures Project, a nonprofit consulted during the bill’s drafting, supports the bill's intent but criticizes its weak transparency provisions. Executive Director Daniel Kokotajlo stated:

“The public deserves to know what goals, values, agendas, biases, instructions, etc., companies are attempting to give to powerful AI systems… this bill does not go far enough.”

He also warns companies can simply accept liability instead of complying with transparency rules, making key safeguards optional.

A U.S. Risk-Based Approach vs EU’s Rights-Based Model

The RISE Act follows a risk-based approach, emphasizing documentation and oversight, rather than providing explicit legal rights to users. This differs sharply from the EU’s rights-based AI framework, which empowers individuals—particularly vulnerable populations.

The EU initially proposed an AI liability directive in 2022 but withdrew it in 2025, reportedly due to industry lobbying, leaving the bloc’s liability stance in flux.

“AI can create new kinds of potential harms,” noted Ryan Abbott, professor of law and medicine at the University of Surrey. “The healthcare arena is going to be particularly challenging.”

Abbott emphasized emerging evidence that AI-only systems might outperform “human-in-the-loop” models in certain medical scenarios—raising thorny liability questions.

A Constructive Beginning, Not the Final Word

Policy experts see potential if the bill evolves. Justin Bullock of Americans for Responsible Innovation (ARI) said the act is a “constructive first step,” but warned:

“Publishing model cards without robust third-party auditing and risk assessments may give a false sense of security.”

Similarly, Shipkevich believes the RISE Act could serve as a foundation for balanced AI oversight, but only if modified to include stronger transparency and risk-management requirements.

What’s Next?

If enacted, the RISE Act would take effect on December 1, 2025. In the meantime, public debate continues over whether the bill prioritizes innovation over accountability, or if it's simply the first draft of a more comprehensive AI regulatory framework.

@ Newshounds News™
Source: Cointelegraph

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Coinbase Secures MiCA License via Luxembourg to Cement European Expansion

The U.S.-based crypto giant gains regulatory clarity across all 27 EU member states under the MiCA framework.

Coinbase has officially secured a MiCA license in Luxembourg, marking a major step in its European growth strategy. The license, granted by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), allows the exchange to offer its full suite of crypto services across all 27 European Union member states.

The approval effectively designates Luxembourg as Coinbase’s regulatory hub for Europe under the Markets in Crypto-Assets (MiCA) regime.

"Now, with MiCA, we're uniting these efforts under a single framework, enabling millions of Europeans to access regulated, trusted, and secure crypto services," Coinbase said in a Friday statement.

MiCA: A Game-Changer for EU Crypto Regulation

MiCA, which came into full effect at the end of 2024, provides the EU’s first comprehensive regulatory framework for crypto assets, covering everything from stablecoins and exchanges to custody and consumer protection.

Coinbase had already secured regulatory licenses in Germany, France, Ireland, Italy, the Netherlands, and Spain—but the MiCA license consolidates these approvals under one EU-wide structure, simplifying operations and compliance.

Coinbase Isn’t Alone in the Race

Other major crypto firms are also making moves in the region under the MiCA regime:

• Gemini, the exchange founded by Cameron and Tyler Winklevoss, is in the final stages of securing a MiCA license in Malta. The company submitted its application in January 2025.

• OKX, another global exchange, has similarly chosen Malta as its MiCA operational base.

A New Chapter for Crypto in Europe

With regulatory certainty now in place across the EU, Coinbase and its competitors are positioning themselves for a new wave of crypto adoption in Europe, where MiCA is expected to serve as a model for global crypto regulation.

@ Newshounds News™
Source: The Block   

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BRICS Bank Issues $2.1 Billion in Local Currency Loans as De-Dollarization Push Accelerates

The New Development Bank boosts non-dollar financing, with 22% of disbursements now in national currencies.

The New Development Bank (NDB)—commonly known as the BRICS Bank—has disbursed $2.1 billion worth of loans in local currencies, part of a broader effort to reduce reliance on the U.S. dollar. The move reflects the bloc’s response to ongoing Western sanctions, particularly those levied against Russia since 2022.

According to newly released figures, the BRICS Bank lent a total of nearly $10 billion, with 22% of that amount issued in currencies such as the Chinese yuan and South African rand.

The NDB plans to increase local currency lending to 30% by the end of 2026, aiming to surpass $3 billion in de-dollarized loans.

De-Dollarization in Action: China, South Africa, and India Take Lead

• The Chinese yuan accounted for $1.8 billion of the local currency loans.

• The South African rand was used for loans totaling $284 million.

• The Indian rupee is next in line, with preparations underway for rupee-based loan disbursements starting in 2026.

This marks a significant evolution in the BRICS financial strategy, as more countries in Africa and Southeast Asia increasingly accept national currencies to avoid costly foreign exchange conversions.

U.S. Sanctions Spur Shift Toward Financial Sovereignty

The NDB’s pivot was accelerated after U.S. sanctions on Russia in 2022, imposed in response to the war in Ukraine. The sanctions remain in place through 2025, even under the Trump administration, reinforcing the alliance's motivation to find alternative financial mechanisms.

“The BRICS bank is not just lending money—it’s building a foundation for sovereign economic cooperation, independent of Western financial pressure,” analysts say.

NDB’s Growing Influence

With Russia actively collaborating with the NDB on managing finances through local currencies, the bank is becoming a critical vehicle for BRICS’ broader economic strategy. Its policies signal growing monetary coordination among member nations and challenge the U.S. dollar’s long-standing dominance in global trade and finance.

@ Newshounds News™
Source: Watcher Guru

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“Tidbits From TNT” Monday Morning 6-23-2025

TNT:

Tishwash:  Meeting between the foreign ministers of Iraq and Iran to contain the escalation

Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein met on Sunday with his Iranian counterpart, Abbas Araqchi, to discuss developments in the regional escalation, on the sidelines of the 51st session of the Organization of Islamic Cooperation (OIC) Foreign Ministers.

The Iraqi Foreign Ministry said in a statement received by Shafaq News Agency that this meeting is the second between the two ministers since the beginning of the current crisis. The meeting addressed the latest security developments in the region, in light of the US military strike against key nuclear sites in Iran.

During the meeting, Iranian Minister Abbas Araqchi gave a detailed presentation on the impact of these attacks, indicating that his country is taking several steps to respond. He also indicated Iran's intention to approach the UN Security Council for an emergency session at the invitation of Russia.

For his part, Minister Fuad Hussein stressed the importance of activating the open-ended ministerial contact committee, an initiative proposed by Iraq within the framework of the Organization of Islamic Cooperation, with the aim of containing the crisis and opening channels for dialogue that would contribute to reaching peaceful solutions and avoiding further escalation in the region.  link

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

Tishwash:  Iraq buys $30 billion in US Treasury bonds

The US Treasury Department announced that the total holdings of global bonds this year reached more than $9 trillion, while Iraq remains outside the top 20 countries with the largest holdings of these bonds for the second year.

The Treasury said in its latest 2025 table that "Iraq did not increase its holdings of US bonds, which remained at around $30 billion, so it did not enter the top twenty largest holders of US bonds."

It added that "global holdings of US bonds amounted to $9 trillion and 13 billion."

It indicated that "Japan is the largest holder of US bonds, with $1.134 trillion, followed by the United Kingdom, which owns $807 billion, followed by China with $757 billion, the Cayman Islands came in fourth with $448 billion, and Belgium with $411 billion."

In the Arab world, "Saudi Arabia and the UAE were among the top twenty countries with the largest holdings of US bonds, with their holdings amounting to $134 billion and $113 billion, respectively."

Iraq owns approximately $32 billion in US bonds, which are considered one of the country's private reserves.  link

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

Tishwash:  Three reasons identified...the Parliamentary Finance Committee rules out sending budget tables to Parliament

Hussein Mounes, a member of the Iraqi Parliament's Finance Committee, ruled out on Saturday the government's submission of the federal budget schedules, while reviewing the main reasons for this move.

"There are several reasons for the government's exclusion from sending the federal budget schedules to parliament, most notably the financial deficit, unstable financial revenues, the lack of a real economic vision, and the approaching date of the legislative elections," Mounes told Shafaq News Agency. 

He added, "The large deficit in the budget law amounts to 80 trillion dinars, which puts the government in a difficult position due to the lack of a real economic vision for completing the budget tables and submitting them to Parliament." 

Parliamentary Finance Committee member Moeen Al-Kadhimi previously indicated that the budget schedules would likely reach parliament in early July.

Al-Kadhimi told Shafaq News Agency at the time that the Ministry of Finance had completed its observations on the budget law's schedules and submitted them to the Council of Ministers to express the government's opinion on the nature of the budget and the total amount compared to last year, in light of the decline in revenues achieved during the current year .

Al-Kadhimi explained that the Ministry of Finance is preparing the final schedules for the budget law after receiving the government's response to the submitted comments. He noted that the draft 2025 budget law is expected to be referred to the House of Representatives early next month after its approval by the Council of Ministers .

The delay in approving the 2025 federal budget in Iraq threatens financial stability, service and development projects, the disbursement of salaries and benefits, and other repercussions that directly impact the daily lives of Iraqi families, according to observers .

Observers believe the budget has become a "political tool" during election seasons, used as a means of pressure and bargaining between blocs, without regard for the impact of these procrastinations, which have continued for more than half a year .

Legal experts also believe that delaying the disbursement of financial allocations stipulated in the budget law constitutes a form of administrative corruption and opens the way for lawsuits to be filed against entities obstructing the implementation of the law .  link

Mot:  Naming da Boat Gets to be Crafty  

Mot:  . These Daze ~~~

MilitiaMan and Crew: Iraq Dinar News Update - Integrity and budget law insights

MilitiaMan and Crew:  Iraq Dinar News Update - Integrity and budget law insights

6-22-2025

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

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

https://www.youtube.com/watch?v=cZ0ivpKPC_s

Iraq Economic News and Points To Ponder Sunday Afternoon 6-22-25

Prime Minister's Advisor: The Country's Financial Situation Is Secure

Money and Business  Economy News – Baghdad   The Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Salih, stated that Iraq's financial situation remains within safe limits, despite regional tensions resulting from the Israeli aggression against Iran. He noted that the country possesses clear financial tools and hedges in the three-year general budget law that enable it to absorb potential shocks.

Saleh said, in an interview with Al-Sabah, followed by Al-Eqtisad News, that “the general budget for the three years (2023-2025) was prepared according to a medium-term financial policy, which includes hedging within the upper spending ceilings, as it was set between an upper limit of 200 trillion dinars, and a lower limit of more than 155 trillion dinars, which ensures meeting the state’s operational and investment obligations.”

He explained that "this hedge is based on the movement of the oil asset cycle, and a hypothetical deficit of 64 trillion dinars has been adopted, which is supposed to be financed in the event of a price decline, which constitutes a strong precaution against any sharp fluctuations in the global oil market."

He explained that "the last two months have indeed witnessed signs of a price contraction in the oil market, but the geopolitical tensions resulting from the war between Iran and the Zionist entity caused a positive price shock, raising oil prices by about $10 per barrel, which improved the country's revenues, although this is fraught with risks related to the security of navigation in the Strait of Hormuz, through which 99% of Iraq's oil exports pass."

The advisor added, "The Iraqi economy is currently supported by a foreign exchange reserve, which is a fundamental pillar of stability, covering 15 months of trade, in addition to the availability of commodity stocks, some of which extend for more than three years, and food security indicators are very reassuring."

Saleh concluded his remarks by emphasizing that "Iraq's fiscal policy is built on a foundation of caution and forward-looking planning to ensure it can address any potential external repercussions, including those that may result from regional conflicts or oil market turmoil." https://economy-news.net/content.php?id=56490

America Reassures Baghdad: We Are Working To Calm Things Down And Will Convey Your Concerns To Washington.

Time: 2025/06/21 17:19:36 Reading: 510 times   {Local: Al Furat News} The Chargé d'Affaires of the US Embassy in Baghdad, Stephen Fagin, confirmed on Saturday that the United States is making intensive efforts to de-escalate the situation in the region and avoid further escalation, stressing that Washington will convey the Iraqi government's concerns to the relevant authorities.

The Ministry of Foreign Affairs stated in a statement received by {Euphrates News} a copy of it, that: “This came during the reception of the Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Bahr Al-Ulum, the Chargé d’Affairs of the United States Embassy in Baghdad, Stephen Fagin, and the discussion of developments in the situation in the region.”

Bahr al-Ulum reiterated the Iraqi government's condemnation of the aggression against the Islamic Republic of Iran, affirming "Iraq's absolute rejection of the use of military force, as it poses a threat to the security and stability of the region," and calling for "the adoption of diplomatic means to resolve disputes."

He expressed "Iraq's deep concern over the repeated violations of Iraqi airspace by Israeli aircraft, the most recent of which, on Friday, June 20, 2025, was a clear breach of Iraqi sovereignty through the passage of aircraft over the holy cities of Najaf and Karbala, and their extension southward." He stressed that "this violation is not only an infringement of sovereignty, but also poses a direct threat to the security and safety of civil aviation, especially via Basra International Airport, which is currently the only air outlet for the return of Iraqi citizens stranded abroad and the departure of travelers to their destinations."

Bahr al-Ulum called for "the necessary efforts to stop these violations and enhance Iraq's ability to deter all threats targeting its sovereignty, security, and the integrity of its territory and airspace, based on the strategic framework agreement signed between the two countries in 2008."

For his part, Ambassador Fagin affirmed that "the United States is making intensive efforts to calm the situation and avoid further escalation," noting that he "will convey the Iraqi government's concerns to the relevant authorities in Washington."LINK

The Judiciary Recovers 8 Billion Dinars In Financial Fraud.
 
Economy    June 19, 13:46  Information/Baghdad... Today, Thursday, the Second Karkh Investigation Court  recovered an amount of eight billion Iraqi dinars for a financial fraud crime.
 
The judiciary's media office stated in a statement received by Al-Maalouma Agency that  "the amount was recovered from two companies that violated the law by fraudulently obtaining the difference in the dollar exchange rate through money transfers outside the country." 

He added, "These efforts are continuing to take legal action against the  remaining companies that follow illegal methods to obtain large profits, which harms public funds."

 It is noteworthy that the Second Karkh Investigation Court, with great efforts and under the supervision of the First Judge of the Court, recovered this amount.  https://almaalomah.me/news/101919/local/القضاء-يسترد-8-مليارات-دينار-عن-جريمة-احتيال-مالي  

After The US Strike, Learn About The Dollar Exchange Rate In Iraq.

Economy | 11:53 - 06/22/2025  Mawazine News – Baghdad  The exchange rates of the dollar against the dinar in the Iraqi local markets today, Sunday, June 22, 2025, in the main governorates are as follows:

Baghdad:   Selling price: 145,000   Buying price: 144,000

Erbil : Selling price: 144,650   Buying price: 144,250

Basra:  Selling price: 144,500   Buying price: 143,750

https://www.mawazin.net/Details.aspx?jimare=262923

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 6-22-25

Good Afternoon Dinar Recaps,

Texas Governor Greg Abbott Signs Strategic Bitcoin Reserve Bill Into Law

Texas becomes the first U.S. state to establish a publicly-funded, stand-alone Bitcoin reserve.

Texas Governor Greg Abbott has signed a groundbreaking piece of legislation into law, making Texas the third U.S. state to formally establish a strategic Bitcoin reserve, following in the footsteps of Arizona and New Hampshire.

However, Texas distinguishes itself by creating the first stand-alone, publicly funded Bitcoin reserve, independent of the state treasury. The newly enacted Senate Bill 21 (SB 21) assigns oversight of the reserve to the Texas Comptroller of Public Accounts, Glenn Hegar, rather than the state’s general financial administration.

“We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years,”
— State Senator Charles Schwertner, bill author.

In tandem, House Bill 4488 (HB 4488) was also signed into law. This measure insulates the Bitcoin reserve—and other designated state funds—from the state treasury’s routine ‘fund-sweeps’ into general revenue. The law also guarantees the legal existence of the reserve, even if no Bitcoin is purchased before the 2026 fiscal deadline.

Strategic Investment on the Horizon

The Texas Blockchain Council expects the Lone Star State to commit significant capital to the fund. Its founder and president, Lee Bratcher, stated that the investment would likely reach tens of millions of dollars:

“While it sounds significant, it is a very modest amount for a state the size of Texas,”
— Lee Bratcher, Texas Blockchain Council.

Bratcher emphasized that all investment decisions—regarding how much Bitcoin to purchase and when—will be made solely by professionals at the Comptroller’s office, following standard institutional investment practices.

A Quiet but Symbolic Move

Notably, neither SB 21 nor HB 4488 were featured in the Governor’s official press release highlighting 16 “critical” new laws. Abbott signed a total of 334 bills on Saturday.

Despite its low-profile announcement, the legislation marks a strategic shift in the financial positioning of one of America’s largest and most economically influential states. Analysts say this could spark broader state-level crypto adoption and further legitimize Bitcoin as an emerging reserve asset.

@ Newshounds News™
Source: The Block   

~~~~~~~~~

BRICS to Launch New Investment Platform to Rival Western Financial Dominance

Putin and Xi propose alternative capital structure to counter U.S. dollar and IMF influence ahead of 17th BRICS Summit.

In a bold move to reshape global finance, Russia and China have jointly proposed the creation of a new BRICS investment platform aimed at strengthening member economies and challenging the Western-led financial system.

The proposal, introduced by Presidents Vladimir Putin and Xi Jinping ahead of the upcoming 17th BRICS summit in July, outlines a strategic realignment to support growth in the Global South, while deepening intra-BRICS cooperation.

New BRICS ‘Investment Platform’ — What’s the Vision?

The initiative focuses on boosting investment in technology, education, trade, and finance, creating a self-reliant financial ecosystem for BRICS members. Putin emphasized:

“We must multiply the volume of capital investment… Our countries need to step up cooperation in areas such as technology, education, trade, and finance.”

According to the Kremlin, the presidents shared updates in a bilateral phone conversation and signaled urgency in advancing the platform from concept to implementation.

Alternative to Western Institutions

This proposed platform would provide independent capital channels, enabling BRICS nations to reduce reliance on the US dollar and international financial institutions like the IMF.

Should the initiative gain consensus at the July summit, it would mark a major step toward monetary sovereignty for BRICS and possibly other emerging market economies.

The investment platform could also introduce new financing tools, including local currency issuance to support cross-border trade among developing and least-developed countries (LDCs). The mechanism would serve as a strategic counterbalance to dollar-based global trade.

A Financial Shift on the Horizon

Analysts say this platform, if successfully adopted, may catalyze a fundamental shift in global capital flows, giving BRICS nations a competitive alternative to the Western-dominated banking ecosystem.

As BRICS continues to expand its influence—both through de-dollarization and strategic alliances—this initiative could become a cornerstone of emerging market resilience in the decade ahead.

@ Newshounds News™
Source: Watcher.Guru   

~~~~~~~~~

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Scary Scenario in Strait of Hormuz Could Trigger Global Energy Crisis

Scary Scenario in Strait of Hormuz Could Trigger Global Energy Crisis

Liberty and Finance:  6-21-2025

As the Israel-Iran conflict continues to unfold, prominent financial and geopolitical analysts are closely scrutinizing the potential ramifications for the already volatile global energy market.

Doomberg, known for their sharp insights and often contrarian views, recently joined Liberty and Finance for a discussion where they painted a concerning picture, highlighting the significant risk of Iran closing the Strait of Hormuz and severely disrupting global oil supplies.

The Strait of Hormuz, a narrow waterway between Oman and Iran, is a critical chokepoint through which a substantial portion of the world’s oil passes.

A closure, even temporary, could send shockwaves through the energy market, leading to dramatic price spikes and potentially impacting global economic stability. Doomberg’s analysis raises serious concerns about the potential for such a scenario to unfold, particularly given the escalating tensions in the region.

Beyond the immediate energy crisis, Doomberg also delved into the underlying factors that contribute to the US’s recurring involvement in overseas conflicts. They explored the complex interplay of geopolitical interests, economic considerations, and political pressures that often lead to intervention, prompting a critical examination of American foreign policy.

The conversation also touched on the current state of the gold market. Doomberg offered their perspective on the precious metal’s performance, considering factors like inflation, interest rates, and geopolitical uncertainty. Understanding their stance on gold provides valuable insights for investors navigating the current economic landscape.

Finally, the discussion turned to Germany’s potential pivot back to nuclear energy. In the wake of the energy crisis exacerbated by the war in Ukraine, Germany is facing increasing pressure to reconsider its reliance on fossil fuels and renewable energy sources.

Doomberg weighed in on the feasibility and potential impact of a resurgence in nuclear power within the German energy mix.

To gain a comprehensive understanding of Doomberg’s perspectives on these crucial issues, viewers are encouraged to watch the full video interview on Liberty and Finance.

The insightful discussion provides a valuable framework for understanding the complex challenges facing the global energy market and the broader geopolitical landscape. The interview offers critical analysis for anyone seeking to navigate the uncertainties of the current world order.

https://youtu.be/Hxbdx2vktO0

Seeds of Wisdom RV and Economic Updates Sunday Morning 6-22-25

Good Morning Dinar Recaps,

XRP Ledger Sets Record with Over 5.1 Million Transactions — Network Signals Institutional Readiness

The XRP Ledger (XRPL) has recorded its most active day ever, surpassing 5.1 million transactions on June 15, with analysts citing the network’s stability, scalability, and increasing user participation as major indicators of institutional-grade performance.

Genuine Activity Drives Unprecedented Growth

Unlike some chains that inflate metrics with automated activity, the XRPL’s surge was reportedly driven by real user demand. According to blockchain analyst Ripple Van Winkle, the record-breaking day included a mix of NFT minting, asset transfers, and decentralized trading.

“No system delays, no spikes in fees — XRPL handled it flawlessly,”
Van Winkle said. “It’s a rare combination of performance and composure in volatile conditions.”

XRPL Shows Signs of Institutional-Scale Maturity

Observers say XRPL’s low transaction fees and smooth performance under pressure are clear signs the network is ready for institutional integration. The ability to maintain throughput and cost stability even during peak load is drawing comparisons to the invisible infrastructure of the internet.

“Institutions want boring reliability, not flashy experiments. XRPL is starting to look like the TCP/IP of crypto — invisible, stable, critical,”
Van Winkle added.

New data from RippleXity and Glassnode supports this narrative:

• Over 7.1 million wallets are now registered on the XRP Ledger.

• Wallets holding 1 million+ XRP have climbed above 2,700, a new record.

XRP Price Slips as Long-Term Investors Realize Profits

Despite the network’s momentum, XRP’s token price has declined, down nearly 15% this month and trading near $2.07, according to BeInCrypto.

Blockchain analytics firm Glassnode reports that long-term holders are realizing gains, with an average of $68.8 million in daily profits cashed out in early June. Many of these investors accumulated during XRP’s pre-rally phase in late 2024, when the asset surged to $3.36 in January 2025.

“XRP is still trading more than 3x above its pre-rally base from November 2024,”
Glassnode stated, noting some whales may be strategically exiting positions.

Analysts: Short-Term Weakness, Long-Term Promise

While current price action is under pressure, analysts believe this is a temporary consolidation, not a structural weakness. They point to strong network fundamentals, increasing developer activity, and growing traction in tokenized assets — including stablecoins like USDC and tokenized U.S. Treasuries launching on XRPL.

As utility grows and market rotation slows, XRP could be poised for another leg up once the profit-taking cycle winds down.

@ Newshounds News™
Source: BeInCrypto

~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 6-22-2025

TNT:

Tishwash:  Oil expert: Closing the Strait of Hormuz is currently unlikely... and why?

Oil expert Hamza Al Jawahiri ruled out the possibility of closing the Strait of Hormuz at the present time, unless the United States intervenes directly in any military conflict.

 Al-Jawahiri told Al-Furat News Agency, "Closing the strait is not in the interest of Iran and the Gulf states if America does not intervene directly."

He added, "All countries will be harmed by closing the strait, and the damage will be great for Iraq in particular, given its heavy dependence on oil revenues.

" Al-Jawahiri pointed out that "even if the strait is closed, it will only last for a few hours or days, as it is considered a vital artery that transports 30% of crude oil heading to global markets."  link

Tishwash:  Following threats from Iraqi factions, the Pentagon told Shafaq News: We are strengthening our capabilities while maintaining a "defensive posture."

The US Department of Defense confirmed, in an official response to Shafaq News Agency inquiries, that it has sent additional military capabilities to the Middle East. This comes at a time of escalating tensions over the ongoing conflict between Israel and Iran, and amid public threats from Iraqi armed groups loyal to Tehran to target US interests if Washington intervenes on Tel Aviv's behalf.

A Pentagon spokesperson told Shafaq News Agency that the official position issued by US Secretary of Defense Pete Hegseth is to enhance the capabilities of the US Central Command (USCENTCOM), without revealing the nature of those capabilities or their locations.

In a separate post, Department of Defense spokesman Sean Parnell explained that "US forces remain in a defensive posture," indicating that Washington is not seeking direct military escalation at this time.

The ministry declined to disclose whether it had engaged directly with the Iraqi government to contain threats posed by armed factions, or the nature of the expected response if US facilities or forces were attacked inside Iraq, referring only to the public statements of senior Pentagon officials.

Prominent Iraqi factions, such as Kata'ib Hezbollah and Harakat al-Nujaba, have escalated their warning tone, declaring their readiness to target US sites in Iraq and Syria if the United States intervenes militarily against Iran in the ongoing escalation.

The approximately 2,500 US troops deployed in Iraq are deployed as part of a training and support mission for Iraqi forces and the international coalition against ISIS. However, these forces have been the frequent target of missile and drone attacks since 2020, with attacks escalating following the assassination of Iranian General Qassem Soleimani and the deputy head of the Popular Mobilization Forces, Abu Mahdi al-Muhandis.

The latest US position comes at a time when the region is witnessing an unprecedented escalation on the ground, with Israel and Iran exchanging military strikes amid fears that the conflict could expand to new arenas, most notably Iraq, Syria, and Lebanon.  link

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

Tishwash:   Prime Minister's Advisor: The country's financial situation is secure

The Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Salih, stated that Iraq's financial situation remains within safe limits, despite regional tensions resulting from the Israeli aggression against Iran. He noted that the country possesses clear financial tools and hedges in the three-year general budget law that enable it to absorb potential shocks.

Saleh said, in an interview with Al-Sabah, followed by Al-Eqtisad News, that “the general budget for the three years (2023-2025) was prepared according to a medium-term financial policy, which includes hedging within the upper spending ceilings, as it was set between an upper limit of 200 trillion dinars, and a lower limit of more than 155 trillion dinars, which ensures meeting the state’s operational and investment obligations.”

He explained that "this hedge is based on the movement of the oil asset cycle, and a hypothetical deficit of 64 trillion dinars has been adopted, which is supposed to be financed in the event of a price decline, which constitutes a strong precaution against any sharp fluctuations in the global oil market."

He explained that "the last two months have indeed witnessed signs of a price contraction in the oil market, but the geopolitical tensions resulting from the war between Iran and the Zionist entity caused a positive price shock, raising oil prices by about $10 per barrel, which improved the country's revenues, although this is fraught with risks related to the security of navigation in the Strait of Hormuz, through which 99% of Iraq's oil exports pass."

The advisor added, "The Iraqi economy is currently supported by a foreign exchange reserve, which is a fundamental pillar of stability, covering 15 months of trade, in addition to the availability of commodity stocks, some of which extend for more than three years, and food security indicators are very reassuring."

Saleh concluded his remarks by emphasizing that "Iraq's fiscal policy is built on a foundation of caution and forward-looking planning to ensure it can address any potential external repercussions, including those that may result from regional conflicts or oil market turmoil." link

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