Seeds of Wisdom RV and Economic Updates Monday Morning 8-25-25

Good Morning Dinar Recaps,

U.S. Economic Events This Week May Trigger Wild Volatility in Crypto

Bitcoin slips below $113K while Ethereum steadies near $4,700 as traders brace for U.S. economic data releases.

Crypto Market Snapshot

Bitcoin and Ethereum began the week under pressure, with BTC falling under $113,000 and ETH holding near $4,700. While crypto markets have their own momentum, traders are fixated on key U.S. economic signals that could shape price action in the days ahead.

On-chain data provider Santiment has flagged rising market euphoria around expectations of Federal Reserve rate cuts. Social discussions on “Fed, rates, Powell” have jumped to an 11-month high, raising concerns of a potential local market top if optimism runs too far ahead of fundamentals.

Key U.S. Economic Indicators to Watch

1. Consumer Confidence and Sentiment

• Tuesday’s consumer confidence data is projected to slip slightly from last month, reflecting continued weakness in household spending power.

• Consumer sentiment figures, expected later this week, remain close to crisis levels.

• Impact on crypto: Weaker confidence typically supports Bitcoin as investors hedge against economic strain. Stronger data, however, may favor stocks and reduce digital asset inflows.

2. Jobless Claims

• Weekly jobless claims are expected at ~230,000, down from 235,000. A lower reading would reinforce labor market resilience, reducing pressure on the Fed to cut rates.

• However, continuing claims are edging higher, signaling more Americans struggling to find work.

• Impact on crypto: Strong labor data may cap Bitcoin in the short term, while rising continuing claims could bolster the case for rate cuts—potentially supportive for digital assets.

3. PCE Inflation Data

• Core PCE inflation, the Fed’s preferred measure, is forecast at 2.9%, up from 2.8% in July.

• Persistent inflation would make aggressive rate cuts less likely, tightening liquidity for risk assets.

• Impact on crypto: While higher inflation may weigh on short-term price action, long-term Bitcoin advocates see it as validation of BTC’s role as a hedge against monetary debasement.

Market Outlook

• Bitcoin: Down over 2% in 24 hours, testing support as volatility looms.

• Ethereum: Holding steady, consolidating after recent highs.

• Overall: Crypto markets face a week of heightened sensitivity to U.S. economic data. Traders are preparing for sharp swings as consumer confidence, jobless claims, and inflation numbers shape the Fed’s next move.

@ Newshounds News™
Source: Coinpedia   

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US Banks Lobby OCC for National Standards to Limit State-Level Oversight

Major banks push for federal preemption amid growing patchwork of state banking rules.

Banks Push for Uniform Federal Oversight

Leading U.S. banks are urging the Office of the Comptroller of the Currency (OCC) to establish new federal regulations that would override certain state-imposed rules. According to Reuters, the lobbying effort focuses on creating national standards governing:

• Lending activities

• Bond issuance

• Investment banking services

• Anti-money laundering (AML) assessments

The move reflects banks’ growing frustration with the patchwork of state regulations, which they argue complicates compliance and undermines efficiency.

Federal Preemption at the Center

The push aligns with the Trump administration’s efforts to reinforce federal preemption, particularly in light of a 2024 U.S. Supreme Court ruling affirming that national banking laws supersede conflicting state regulations.

Additionally, a recent executive order on “debanking” practices—designed to prevent financial institutions from denying services based on political or religious criteria—has added momentum to the call for uniform national standards.

Industry Groups Back the Proposal

Prominent trade associations have voiced strong support:

• Bank Policy Institute (BPI): “We strongly support national preemption and believe federal fair access legislation or regulation would be a prudent move to address account closures in a consistent way across all states.”

• American Bankers Association (ABA): Endorsed the proposal as a necessary step to ensure regulatory clarity and operational consistency.

State Regulators Push Back

Not all stakeholders agree. Several state regulators argue that:

• Local oversight is critical for consumer protection.

• State-specific rules help maintain market integrity.

• Regulations can be tailored to community needs more effectively at the local level.

This tension has intensified as states including Texas, Florida, and California adopt laws restricting banks from engaging in practices tied to social or political considerations.

Outlook

The debate over federal vs. state banking authority is poised to intensify as the OCC weighs industry calls for regulatory standardization. While banks see national rules as a pathway to efficiency and clarity, state authorities maintain that local oversight remains essential to protecting consumers and communities.

@ Newshounds News™
Source: Daily Hodl

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RWA Tokenization Market Projected to Reach $16 Trillion by 2030, Skynet Report Finds

Institutional adoption, regulatory progress, and U.S. Treasury tokenization drive rapid growth in real-world asset markets.

Market Forecast

The global market for real-world asset (RWA) tokenization could expand to $16 trillion by 2030, according to the 2025 Skynet RWA Security Report.

• Tokenized U.S. Treasuries are leading the trend, projected to reach $4.2 billion in 2025, with short-term government bonds driving most activity.

• Growth is expected to accelerate as institutional investors adopt tokenized products for yield generation, liquidity management, and operational efficiency.

Institutional Adoption and Use Cases

The report highlights collaboration between traditional finance (TradFi) and decentralized finance (DeFi) as a core driver of expansion.

• Major banks and asset managers are exploring tokenization of assets such as debt instruments, commodities, private credit, and trade finance.

• Tokenized money market funds and private credit markets are emerging as early use cases.

• The convergence of TradFi and DeFi, according to Skynet, offers greater transparency, accessibility, and efficiency.

Regulatory Developments

Regulatory clarity is seen as essential to unlocking large-scale institutional participation:

• Hong Kong, Singapore, and the United States are implementing frameworks to govern tokenization platforms.

• Clearer rules on custody, risk management, and investor protections are expected to accelerate adoption.

Challenges for Growth

Despite strong potential, several structural challenges remain:

• Limited secondary market liquidity for RWA tokens, as most remain institutionally held or restricted to closed platforms.

• Legal and regulatory inconsistencies across jurisdictions.

• Cybersecurity and smart contract risks, requiring robust custodians and compliance infrastructure.

Skynet emphasized the importance of federally chartered crypto banks or licensed custodians in securing institutional trust.

Outlook

The report concludes that the combination of blockchain-native liquidity and real-world yields is attracting both retail and institutional capital. However, broader adoption will require:

• Infrastructure investments to scale tokenization platforms.

• Regulatory alignment across key markets.

• Simplified access for retail investors via regulated intermediaries and on-ramps.

With these conditions in place, Skynet projects tokenization could achieve the $16 trillion milestone by 2030.

@ Newshounds News™
Source: CryptoNews

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What Peace Black Swans and Fiscal Red Bull means for America’s Future

What Peace Black Swans and Fiscal Red Bull means for America’s Future

Palisades Gold Radio:   8-22-2025

The global economic landscape feels increasingly like an “asteroid field” – a chaotic mix of massive deficits, entrenched global conflicts, and critical dependencies on nations that aren’t always allies. In this complex environment, understanding potential future economic strategies is more crucial than ever.

Recently, Tom Bodrovics of Palisades Gold Radio welcomed a truly insightful mind to the show: Michael Kao. As a Private Family Office Investor, Author, and a seasoned Former Hedge Fund Manager & Commodities Trader, Kao brings a wealth of experience to the table.

His discussion provided a comprehensive, in-depth analysis of what he describes as the “Trump 2.0 economic strategy” – a multi-faceted approach designed to fundamentally reshape the United States’ economic trajectory.

Perhaps one of the most intriguing concepts Kao introduced is what he terms a “reverse Marshall Plan.” Unlike the original Marshall Plan, where the U.S. government funded European recovery post-WWII, this strategy envisions a future where other countries and private industries take on fiscal responsibilities traditionally borne by the U.S. government.

The goal? To free up U.S. government funds and reduce the debt load, effectively making others shoulder more of the global economic and security cost.

The culmination of these policies, Kao believes, could lead to a “disinflationary growth” scenario. This highly desirable outcome would see the U.S. economy growing at a healthy pace while inflationary pressures are contained or even reversed.

If successful, this could be the elusive path for the U.S. to “grow its way out of its current debt challenges” – a monumental task that requires more than just austerity.

The conversation also delved into vital geopolitical dynamics. Kao touched on potential shifts in Middle Eastern relationships, the ongoing economic challenges faced by China, and the overarching importance of creating sustainable economic conditions that don’t rely on short-term monetary manipulations.

While acknowledging the significant hurdles ahead, Michael Kao remains cautiously optimistic about the United States’ economic future.

He underscores the belief that the U.S. possesses significant untapped potential on its balance sheet. Crucially, he emphasizes that the success of this strategic approach hinges on its maintenance beyond a single presidential cycle, fostering a more favorable and stable long-term economic environment.

Michael Kao’s analysis offers a compelling framework for understanding the potential direction of a “Trump 2.0” economic strategy. It’s a vision that seeks to address deep-seated issues through a combination of economic statecraft, fiscal redirection, and a bold redefinition of global responsibility.

https://youtu.be/2oQib164lv0

Iraq Economic News and Points To Ponder Sunday Afternoon 8-24-25

About 80% Of The Currency Is In Iraqi Homes, An Expert Explains.
 
Economy |  23/08/2025  Mawazine News – Baghdad   The economic expert confirmed, Nabil Al-Marsoumi, that citizens retain up to 80% of the monetary mass in Their homes are damaged   due to a number of reasons,most notably the crisis of confidence between banks and citizens.    Al-Marsoumi said, Statement:
 
"This crisis has worsened after the Central Bank recently announced the inability of 10 Banks are returning citizens' financial deposits,   which is what happened previously with another group of Banks. 

He also considered that  “Routine is one of the important reasons for citizens’ inability to withdraw Their entire financial amounts are being paid, as banks are dividing them, which is unacceptable.” 

Al-Marsoumi added,  “Complications, abuse, and difficulty in recovering deposited funds   are all things that obscure Citizens,  especially merchants and contractors, are urged not to deposit their money in banks. 

The expert concluded his speech Emphasizing the "need for banks to develop their dealings with the public to consolidate confidence." "mutual," he said, noting that  "the current situation is explained by a loss of confidence in the regime." Banking and complex procedures.     https://www.mawazin.net/Details.aspx?jimare=265618 

Experts: Rafidain Bank Has Closed The Door To Those Lurking.
 
Economic 08/24/2025  Baghdad: Hussein Thaghab  Shukran Al-Fatlawi   Experts believe that the partnership agreement signed by Rafidain Bank with the American company K2 Integrity represents part of a series of international contracts concluded by the bank with American financial institutions aimed at restructuring the bank and developing its electronic and banking procedures.
 
The bank's general manager, Ali Al-Fatlawi, emphasized that this partnership represents a 
"professional and legal bulwark that will block the path of those who are lurking," explaining that
 
it will establish clear and transparent rules for governance and compliance,
ensuring that "the voice of reform reaches the world, not the voices of deception or politicization." 
 
Al-Fatlawi described the agreement with the international company as a "certificate of integrity and trust" and a clear message that  Rafidain Bank is "leading a new path that will place the Iraqi banking sector in its rightful place."
 
New start
 
International expert Saif Al-Halfi explained that the importance of the announcement of the signing of the partnership agreement between  Rafidain Bank and K2 Integrity in Washington lies in its timing, which coincided with escalating international pressure on the Iraqi banking sector in general, and on government banks,  particularly Rafidain Bank.

Speaking to Al Sabah, Al Halfi explained that this step represents a strong response to the unofficial accusations recently leveled against one of the bank's branches, emphasizing that
 
it lays the foundation for a new beginning through a comprehensive suite of services that relies on the bank's professionalism and efficiency in complying with anti-money laundering and counter-terrorist financing (AML/CFT) standards. 

He added that the partnership agreement, from a legal and technological perspective,effectively establishes compliance systems that are compatible with international standards,particularly those adopted by Washington, the international community, and the G7 countries.

He noted that this strengthens the position of the Iraqi banking sector on the global financial system map.
 
Strengthening the regulatory structure
 
Al-Halfi added that  the essence of the partnership agreement between the two parties lies in
developing international legal frameworks within anti-money laundering systems, while providing the bank with the necessary technologies to implement these frameworks and strengthen its regulatory infrastructure.
 
This will serve the public dealing with Rafidain Bank, the first government-owned bank established in the country and a cornerstone of banking operations.  

Al-Halfi pointed out that   Money laundering and terrorist financing
 
the contract focused on specific concepts, most notably enhancing anti-money laundering and counter-terrorism financing (AML/CFT) measures, explaining that Iraqi banks are in dire need of designing and implementing more effective frameworks and procedures that rely on automation and high accuracy. 

He explained that the agreement also includes enhancing the efficiency of the bank's internal reporting and oversight,  as some of these systems were previously unable to perform their role with the required effectiveness.
 
Compliance with international standards
 
Al-Halfi explained that the purpose of the partnership agreement is to align local policies, regulations, and Iraqi laws with international standards, noting that the agreement includes the highest levels of governance regarding    internal controls,   risk management, and   reporting.
 
More comprehensive banking reform
 
The international expert believes the contract will contribute to strengthening the regulatory structure of the Iraqi banking sector, as internal oversight is the true foundation for evaluating banking operations.

He emphasized that  K2 Integrity's expertise will positively impact not only Rafidain Bank,but all Iraqi banks as part of a broader government reform process aimed at     restructuring the financial sector and  enhancing the international community's confidence in it.
 
Open work paths
 
Financial affairs expert Dr. Mustafa Akram Hantoush told Al-Sabah that the reforms taking place at Rafidain Bank are extremely important, noting thatthe bank's contract with the international company K2 is a qualitative step.

He said that this contract will expand Rafidain Bank's work paths internationally, and this move distances it from the stagnation that negatively impacts a bank of this size, as it has 100 branches inside Iraq and 9 abroad. 

He added that this cooperation with a global company will  inevitably achieve positive results and  enable the bank to open an account in one of the largest global banks,  which signifies a new phase of international cooperation.
 
Improving banking foundations
 
In a related development, financial expert Sherwan Anwar Mustafa told Al-Sabah that Rafidain Bank is among the Iraqi banks seeking to improve its banking foundations and international reputation. He explained that Rafidain Bank is a key partner of IQ, which is a strategic partner allied with K2.

Mustafa added that  the gateway to international confidence in Iraqi banks could stem from such a solid partnership or cooperation,sending reassuring messages to the international financial sector.

He explained that   Iraq is entering a new phase of banking operations that will transform it into a truly open country to global financial efforts, where all financial standards applicable to money movements will be implemented,  thus making our banks part of the global financial system.   https://alsabaah.iq/119383-.html   

Association Of Banks: Payment Points Increased To 60,000, And More Than 18 Million Electronic Cards Were Issued.
 
Today, Baghdad - INA - Wissam Al-Mulla   The Iraqi Private Banks Association announced on Sunday the
     issuance of more than 18 million electronic payment cards across the country, while noting that the
     number of payment points has increased to approximately 60,000.

Ali Tariq, executive director of the Iraqi Private Banks Association, told the Iraqi News Agency (INA), 
"The issuance of electronic cards in the country is witnessing a significant increase,     particularly following government decisions to  promote electronic payments and  oblige government and private institutions to collect electronically."

 He explained that "the number of cards issued has exceeded 18 million in Iraq, while the
number of electronic payment points has increased from 7,000 to approximately 60,000,
     with further increases expected in the coming period." He added,
 
"Banks continue to support various projects," explaining that "financial ceilings for small, medium, and large projects are determined by each financial institution based on the     nature of the project,
its capital, and the  number of employees."      https://ina.iq/ar/economie/241710-60-18.html   

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 8-24-25

Good Afternoon Dinar Recaps,

China Pushes Yuan as BRICS Reserve Currency, Faces Resistance

China is advancing efforts to position the yuan as the reserve currency of BRICS, challenging the dominance of the U.S. dollar. However, resistance from fellow BRICS members threatens to stall Beijing’s ambitions.

China’s Push for the Yuan

Beijing has steadily promoted the yuan for trade, cross-border payments, and central bank reserves, especially during the 2023 and 2024 BRICS summits.

• Russia and Brazil have increasingly settled oil and commodity trades in yuan, largely due to U.S. sanctions on Moscow.

• India briefly used yuan for settlements but later stopped.

• Through the New Development Bank (NDB), China has also encouraged lending in yuan, with countries such as Pakistan, Sri Lanka, and several African nations receiving loans denominated in the currency.

These moves, though not officially branded as a “reserve currency initiative,” underscore China’s intent to reduce reliance on the U.S. dollar and elevate the yuan’s global role.

Growing Resistance Inside BRICS

Despite Beijing’s push, divisions within BRICS remain clear:

• India and South Africa have consistently opposed making the yuan the bloc’s reserve currency.

• Brazil has recently joined their stance, signaling concern over China’s dominance.

• Instead, these nations favor a multicurrency system—a basket of local currencies that can collectively compete with the U.S. dollar, rather than relying on one nation’s currency.

Why It Matters

The internal split highlights a key challenge for BRICS: while members agree on reducing dependence on the dollar, they do not agree on letting the yuan replace it.
Without consensus, China’s vision of a yuan-centered BRICS reserve faces significant hurdles, leaving the bloc’s true de-dollarization strategy still in flux.

@ Newshounds News™
Source: Watcher.Guru

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We’re Near Endgame, Ponzi to Blow up or Collapse

We’re Near Endgame, Ponzi to Blow up or Collapse

Liberty and Finance:   8-23-2025

Have you ever really stopped to consider what money is? Is it just government-issued paper? A digital entry on a screen? Or is there something more fundamental at play?

A recent, eye-opening discussion between Kaiser Johnson from Liberty and Finance and Phil Low dives deep into these very questions, challenging conventional wisdom about monetary theory and offering crucial insights into our current economic landscape.

 If you thought you knew money, this conversation will make you think again.

For many, the prevailing idea is the “sovereign force theory”—the belief that money’s value comes from government decree and its ability to enforce taxation. But Phil Low, drawing on the Austrian school of economics, presents a compelling counter-argument: money isn’t imposed; it emerges naturally as the most liquid commodity to solve the “coincidence of wants” problem in trade.

Imagine trying to barter for everything you need! Money simplifies this. Phil uses vivid analogies, from seashells to “life certificates” and the stark reality of coercion, to illustrate that tokens enforced by force do not truly monetize.

They may be instruments of taxation, but they fail to become a true medium of exchange beyond that specific use case. The market, in its wisdom, seeks out the most desirable, divisible, and durable commodity to facilitate trade.

The discussion then takes us on a historical tour, emphasizing that from ancient times right up to August 1971, the world’s economies largely operated on a gold and silver standard.

This wasn’t a fluke; it was a testament to the market’s natural gravitation towards these precious metals as reliable forms of money.

What’s truly fascinating is their analysis of the supposed “departure” from the gold standard in 1971.

They argue that this move didn’t cause a sudden repricing of goods, as one might expect from a purely fiat system. Instead, the system has remained effectively gold-backed, not through direct convertibility, but through credit expansion, artificially extending the prior gold-based system rather than truly becoming the “sovereign fiat system” most commonly believe it to be. This is a subtle yet profound distinction that upends traditional narratives.

When it comes to precious metals, there’s a critical distinction. Monetary metals like gold, silver, and copper are standardized, stamped, and recognized as currency, making them easy to trade. Think of a gold coin. 

Non-monetary metals, conversely, are jewelry, artifacts, or raw forms – beautiful, perhaps, but less liquid in trade. In a crisis, the ease of valuation and transaction makes monetary forms vastly preferable. This nuance is crucial for anyone considering precious metals as a safeguard.

The conversation shifts to the urgent present, highlighting the extreme volatility in financial markets. Phil Low describes the Federal Reserve’s current efforts as struggling to maintain a “Ponzi-like scheme,” printing exponentially increasing amounts of fiat currency to prop up failing banks and government debt. This desperate measure results in wild swings in interest rates and market panic, further exacerbated by conflicting opinions on Fed policy.

This isn’t just academic talk; it’s a warning. Phil advises viewers to prepare by holding monetary gold and silver alongside some paper dollars. His critical caution: do not rely on last-minute conversions or attempt to “trade the crash,” as the risks are simply too extreme. Early, calm preparation is paramount.

The discussion also briefly touches on the ever-expanding role of government and the increasing complexity of the state’s involvement in the economy, further complicating the financial landscape.

Kaiser Johnson and Phil Low offer practical advice on acquiring and holding precious metals, emphasizing the importance of understanding why you’re doing it and how to do it safely. Phil promotes his channel and resources, inviting those interested to delve deeper and prepare thoughtfully for what may lie ahead.

This isn’t just a video about economics; it’s a call to re-evaluate our foundational beliefs about money and to calmly, yet urgently, prepare for the financial future.

https://youtu.be/13S3IkVUe2A

Iraq Economic News and Points To Ponder Sunday Morning 8-24-25

Mazhar Saleh: Iraq's Foreign Reserves Provide Exceptional Stability For The National Currency.

Time: 2025/08/22 Read: 1,335 times   {Economic: Al Furat News} The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Friday that the Central Bank of Iraq enjoys substantial foreign reserves that represent the primary backing for the national currency. These reserves are managed within a diversified foreign currency investment portfolio in accordance with the highest standards of global banking efficiency and professionalism.

Saleh added in an interview with Al Furat News Agency that "the ability of these reserves to meet external demand for foreign currency for the purposes of financing import trade is one of the primary indicators of their efficiency," noting that "the global standard for financing trade from central bank reserves is three months' coverage, while Iraq has an exceptional capacity of up to twelve months."

He pointed out that "this level reflects a high degree of stability in the foreign exchange market, despite the temporary pressures on the current account of the balance of payments due to the relative contraction in oil prices," noting that oil revenues continue to constitute the main pillar in the formation and accumulation of these strategic reserves.

Saleh explained that "the Central Bank largely controls the foreign exchange market by imposing an official exchange rate of 1,320 dinars per dollar for the dinar. This has contributed to keeping the annual inflation rate below 3%, which falls within what is known as the normal range for the general price level or the natural price break-up in the country." He emphasized that this represents the highest levels of stability targeted by Iraqi monetary policy.  LINK

Fluctuations In Exchange Rates In Baghdad

economy | 12:00 - 08/23/2025   Mawazine News - Baghdad -  The dollar exchange rate witnessed new fluctuations in the capital's markets on Saturday.

The exchange rate for $100 in exchange shops reached 143,500 dinars for sale, compared to 141,500 dinars for purchase.  The exchange rate on the Baghdad Stock Exchange also reached 142,450 dinars. https://www.mawazin.net/Details.aspx?jimare=265594

A Crisis Of Confidence And Banking Red Tape... Why Do Iraqis Keep Billions Of Dollars At Home?

Time: 2025/08/23 Reading: 375 times   {Economic: Al Furat News} Economic expert Nabil Al Marsoumi confirmed that citizens' retention of up to 80% of their cash balance in their homes is due to a number of reasons, most notably the crisis of confidence between banks and citizens.

Al-Marsoumi told Al-Furat News: "This crisis has worsened after the Central Bank recently announced that 10 banks were unable to return citizens' financial deposits, a situation that had previously occurred with another group of banks."

He also considered that "red tape is a major reason why citizens are unable to withdraw their entire amounts of money, as banks divide them into portions, which is unacceptable."

Al-Marsoumi added, "The complexities, mistreatment, and difficulty in recovering deposited funds are all factors that prevent citizens, especially merchants and contractors, from depositing their money in banks."

The expert concluded his remarks by emphasizing "the need for banks to develop their interactions with the public to build mutual trust," noting that "the current situation stems from a loss of confidence in the banking system and its complex procedures."   LINK

The Prime Minister Directs The Completion Of The Final Draft Of The Iraq 2050 Vision.

Saturday, August 23, 2025, | Economic Number of reads: 219   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani directed the completion of the final draft of the (Iraq 2050) vision.

A statement by his media office said that Prime Minister Mohammed Shia Al-Sudani directed, today, Saturday, the Supreme National Committee for Strategies in Iraq, to ​​proceed with completing the implementation of the requirements of the comprehensive long-term national vision (Iraq 2050 - Towards Development and the Future), which paves the way for a strategic transformation in the Iraqi state system at various developmental, economic, administrative, digital technology and artificial intelligence levels.

Al-Sudani stressed, during his meeting with the Chairman of the Supreme National Committee for Strategies in Iraq, that the implementation of the anticipated vision should elevate the Iraqi reality and its specificities, as it represents a strategic roadmap that establishes a new national contract, restores confidence in institutions, and ensures the participation of all segments of society in shaping the country's future, away from immediate policies and reactions.

This directive comes in implementation of the vision presented by the Prime Minister in the ministerial program, within the framework of establishing a new era of sound forward-looking planning, redrawing the features of Iraq over the next three decades, based on the standards of sustainable development, social justice, digital transformation, and integrated sovereignty over decisions and resources. /End https://ninanews.com/Website/News/Details?key=1247915

It Has Risen In A Short Period. An Economist Warns Of The Risks Of Iraq's Internal Debt.

Economy | 08/23/2025  Mawazine News - Baghdad –  Economic expert Nabil Al-Marsoumi warned on Saturday of the escalating risks of Iraq's domestic debt, which has witnessed a rapid increase in a short period, which could affect the state's ability to finance itself and ensure sustainable financial performance.

Al-Marsoumi said in a clarification monitored by Mawazine News, "Iraq's domestic debt rose from 70.575 trillion dinars at the end of 2023 to 83 trillion dinars at the end of 2024, then rose at the end of the first half of 2025 to 92.2 trillion dinars, 47% of which was deducted from remittances at the Central Bank of Iraq."

He added that this domestic debt, which finances the budget deficit resulting from excessive operating spending, has several negative repercussions, which can be summarized as follows:

- A decrease in the real value of government financial assets and the loss of the government's ability to repay.

- Deepening the rentier nature of the economy and neglecting strategic investment.

- Increasing the burden on the general budget and worsening the deficit.

- Pushing inflation rates higher if this is not coordinated with monetary policy.

- Weakening the tools and control of the monetary authority.

- Declining economic growth as a result of the banking sector's allocation of government debt instruments instead of the private sector.

- Increased domestic debt service burdens, reaching 9.342 trillion dinars in 2024, could impact the standard of living if essential social spending is reduced.

These indicators confirm that domestic debt is no longer merely a temporary financing tool for the budget deficit, but rather a growing pressure factor on the macroeconomy.

Most loans go to cover operating expenses, without corresponding growth in productive investments, widening the gap between oil revenues and current spending.

 According to economists, the continuation of this trend deepens the budget's vulnerability to any shocks in oil prices and increases the state's dependence on domestic borrowing, which consumes a growing portion of its resources.  https://www.mawazin.net/Details.aspx?jimare=265600

New Deadline For Iraqi Banks To Lift Sanctions

economy | 07:58 - 08/22/2025   Mawazine News / Follow-up on granting Iraqi banks a “rescue period”.. After the banks rejected the American “Oliver Wyman” plan following sharp disagreements between the Iraqi Private Banks Association and the Central Bank of Iraq, and their rejection of the banking reform paper approved by the bank based on the plan of the American consulting company “Oliver Wyman”, and Al-Sudani’s resort to Washington in search of a solution, “Oliver Wyman” approved amendments to its terms within a “rescue plan” for the banks, which included the following:

- Extending the period for submitting pledges to September 30th instead of the end of August, taking into account “flexibility” in implementing the banking reform plan.

- Expanding the timeframe for capital increases from 200 billion to 400 billion dinars gradually over four phases, at a rate of 50 billion dinars annually until 2028.

- Raising the conditions for family ownership from 10% to 40% of the bank's portfolio size, which will give private banks greater opportunities to engage in the reform plan and escape the restrictions on dealing in dollars imposed by the Federal Reserve and the Treasury Department, starting in early 2029.

- Banks that are unable to join the reform process will be allowed to operate exclusively in the Iraqi dinar, without their licenses being revoked.   https://www.mawazin.net/Details.aspx?jimare=265562

Due to terrorist threats, the US embassy in Baghdad sounds the alarm.

A wish |  08/23/2025   Mawazine News – Baghdad  The US Embassy in Baghdad expressed its concern on Saturday about the ongoing operations and regional expansion of the terrorist organizations ISIS and al-Qaeda.

The embassy stated in a tweet on the "X" platform, "The United States continues to prioritize partnerships with allies and regional actors in counterterrorism, as we express our deep concern about the ongoing operations and regional expansion of ISIS and al-Qaeda."

It added: "The United States also commends the UN member states that have maintained counterterrorism pressure in Iraq, Syria, and Somalia, which has limited ISIS operations." https://www.mawazin.net/Details.aspx?jimare=265607 

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 8-24-25

Good Morning Dinar Recaps,

US Treasury’s DeFi ID Plan Sparks Privacy and Decentralization Concerns

The U.S. Treasury is weighing a controversial proposal that could fundamentally reshape decentralized finance (DeFi). As part of its new mandate under the GENIUS Act, the Treasury is exploring whether identity checks should be embedded directly into DeFi smart contracts.  While supporters argue this could block illicit finance, critics warn it risks turning permissionless systems into government-gated networks.

The Proposal

• Under the GENIUS Act, signed into law in July, the Treasury must evaluate new compliance tools for crypto markets.

• One idea: require DeFi protocols to automatically verify government IDs, biometrics, or digital wallet certificates before allowing transactions.

• Proponents say this would integrate KYC/AML checks directly into blockchain infrastructure, making it harder for criminals to exploit anonymity.

Fraser Mitchell, Chief Product Officer at AML provider SmartSearch, noted:

“Real-time monitoring for suspicious activity can make it easier for platforms to mitigate risk and prevent money launderers from using their networks.”

Privacy and Surveillance Risks

Critics say embedding ID at the protocol level could hollow out the essence of DeFi:

• Mamadou Kwidjim Toure, CEO of Ubuntu Tribe, compared it to “putting cameras in every living room.”

• Tying blockchain wallets to government IDs risks making every transaction permanently traceable to real-world identities.

• This could open doors to censorship, blacklisting, or even automated tax collection directly through smart contracts.

Toure warned:

“Financial freedom relies on the right to a private economic life. Embedding ID erodes that and creates dangerous precedents.”

Exclusion and Security Challenges

• Billions of people worldwide lack government-issued ID. A hard requirement could lock out refugees, migrants, and the unbanked.

• Data security risks escalate if biometric and financial data are linked—making breaches catastrophic.

Alternatives Exist

Experts argue the choice isn’t between crime havens and mass surveillance.

• Zero-knowledge proofs (ZKPs): Users can prove compliance (e.g., over 18, not sanctioned) without revealing identity.

• Decentralized Identity (DID) standards: Allow users to hold verifiable credentials and selectively disclose only what’s needed.

Toure summarized:

“Instead of static government IDs, users should hold verifiable credentials they selectively disclose.”

The Bigger Picture

The Treasury’s DeFi ID plan raises urgent questions:

• Can compliance be achieved without dismantling DeFi’s open, permissionless foundations?

• Will embedding government-controlled identity tools erode decentralization and limit financial freedom?

• Or can privacy-preserving technologies provide a middle path that balances security with autonomy?

As the GENIUS Act unfolds, these debates may determine whether DeFi remains a tool for global financial inclusion—or evolves into a tightly surveilled extension of traditional finance.

@ Newshounds News™
Source: Cointelegraph

~~~~~~~~~

“Good Sign” as Asset Managers Update XRP ETF Applications Following Ripple Court Resolution

The race for a spot XRP ETF gained momentum after several major asset managers filed amended applications with the U.S. SEC on the same day—just as a federal appeals court officially closed the Ripple case.

Multiple Updates Signal Progress

On August 22, CoinShares, Grayscale, Canary, Franklin, WisdomTree, Bitwise, and 21Shares updated their S-1 filings with the SEC for spot-based XRP exchange-traded funds (ETFs).

• The amendments introduce greater structural flexibility, including allowing XRP or cash creations and cash or in-kind redemptions.

• Analysts suggest the changes likely reflect direct SEC feedback, potentially increasing approval chances.

Analysts Call It a “Good Sign”

Bloomberg ETF analyst James Seyffart said the coordinated filings strongly suggest issuers are responding to regulator guidance, calling the move a “good sign.”

Similarly, Nate Geraci, President of NovaDius Wealth Management, emphasized that simultaneous updates are a positive signal that the applications are advancing in the SEC review process.

Legal Clarity Removes Barriers

The timing coincided with the Second Circuit Court’s approval of a joint request by Ripple and the SEC to withdraw their appeals—effectively ending the long-running case.

Community figure All Things XRP argued the decision puts XRP in the same regulatory category as Bitcoin and Ethereum, clearing a key legal hurdle. He estimated that XRP ETF approval odds may now be as high as 95%.

Following the news, XRP surged to $3.08, with trading volumes spiking as whales accumulated large amounts of the token.

XRP’s Path Mirrors Bitcoin’s ETF Journey

Observers note that XRP is now following a trajectory similar to Bitcoin’s:

1. Regulatory clarity.

2. Wave of ETF applications.

3. Price rally fueled by institutional demand.

With the SEC facing an October 2025 deadline to decide on several applications—including those from Grayscale, Bitwise, and 21Shares—analysts believe approval could spark billions in institutional inflows.

Although BlackRock has yet to file, estimates suggest existing issuers could attract over $5 billion into XRP ETFs if approvals move forward.

@ Newshounds News™
Source: The Crypto Basic

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Gemini About to Launch the World’s First XRP-Linked Mastercard

Gemini has ignited speculation with a bold billboard hinting at an XRP Mastercard launch on August 25, sparking excitement across the crypto community and fueling a sharp rise in XRP’s price.

A Teaser That Turned Heads

The buzz began when Gemini shared an image of a massive New York City billboard reading “Prepare your bags” alongside the date August 25, 2025.

• The cryptic message immediately triggered theories of an XRP-branded Mastercard, though no official confirmation has been made.

• Gemini already offers a crypto rewards card, leaving some skeptical while others view this as a major step toward XRP’s mainstream adoption.

Ripple, Gemini, and Mastercard: A Possible Alliance

Unverified reports suggest a potential partnership between Ripple, Gemini, and Mastercard, with WebBank as the likely issuer to meet U.S. compliance requirements.

• John Deaton, a prominent crypto lawyer, suggested the card could outperform existing crypto-linked payment cards.

• Meanwhile, veteran XRP investor WrathofKahneman urged caution, reminding the community that speculation should not be mistaken for fact.

XRP Price Surges Past $3

The speculation arrives as XRP continues its rally:

• XRP climbed 8% in 24 hours, reaching $3.04, and outperforming Bitcoin.

• The surge follows a major milestone—the joint dismissal of the long-running SEC lawsuit against Ripple, which restored legal clarity to the token.

• Growing anticipation of an XRP ETF has also bolstered momentum, with many predicting significant institutional inflows if approved.

Why This Matters

If confirmed, the Gemini XRP Mastercard would mark a historic breakthrough for XRP’s real-world adoption, blending crypto payments with a globally recognized financial brand. Combined with legal clarity and the possibility of an ETF, this move could push XRP further into mainstream finance than ever before.

@ Newshounds News™
Source: Coinpedia 

  ~~~~~~~~~

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“Tidbits From TNT” Sunday Morning 8-24-2025

TNT:

Tishwash:  A US delegation visits Baghdad to discuss a number of issues. Withdrawal is on the table. 

A high-level US delegation is scheduled to visit the Iraqi capital, Baghdad, in the coming days to discuss a range of issues with Iraqi officials.

According to an informed source who spoke to Shafaq News Agency, the delegation will discuss the US withdrawal from its main bases in Iraq and its repercussions, in addition to an economic file and another related to energy.

The US delegation is also scheduled to visit the Kurdistan Region, according to the source, to discuss several issues, including the repercussions of the recent events in Sulaymaniyah.

Relations between the United States and Iraq have been at a diplomatic standstill since Donald Trump took office. Communication and meetings have been limited to the Chargé d'Affaires of the US Embassy in Baghdad, Stephen Fagin, and a single call received by Prime Minister Mohammed Shia al-Sudani from Secretary of State Marco Rubio.

This comes as the first phase of the US-led international coalition's withdrawal from Iraq has begun, with a US military convoy already departing Ain al-Asad base for Syria last Monday.

The schedule includes the withdrawal of international coalition forces from Ain al-Asad base and Baghdad by the end of September 2025, with a portion of them being transferred to Erbil and Kuwait. Meanwhile, the number of troops will gradually decrease from approximately 2,000 to less than 500 in Erbil.  link

Tishwash:  US delegation to visit Iraq as troop withdrawal advances

A senior US delegation is due in Baghdad in the coming days for talks on the withdrawal of American forces as well as economic and energy issues, a source told Shafaq News on Saturday.

The group is also scheduled to travel to the Kurdistan Region to address several files, including the recent unrest in al-Sulaymaniyah, the source added.

The visit coincides with the start of the Global Coalition’s drawdown. Earlier this week, a US convoy left Ain al-Asad base for Syria, with full withdrawals from Ain al-Asad and Baghdad planned by the end of September 2025. The American troop presence will then shrink from around 2,000 to fewer than 500, concentrated mostly in Erbil.  link

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

Tishwash:  US Forces in Sudden Withdrawal from Ain al-Asad, Victory Bases in Iraq

US forces began a sudden, phased withdrawal from Ain al-Asad and Victory bases in Iraq on Sunday following an embassy order, a top Iraqi official told Kurdistan24. Some troops have been moved to Erbil. The full evacuation is expected within days.

as of 3:11 am PDT  

 American military forces have initiated a sudden withdrawal from the major Ain al-Asad and Victory Base Complex (VBC) in Iraq, a high-level source within the Iraqi government told Kurdistan24 exclusively on Sunday.

The withdrawal began this morning following what the source described as an order issued by the American Embassy in Baghdad.

According to the source, the withdrawal is being conducted in phases. A portion of the American soldiers departed from both bases this morning, with a complete evacuation of the two sites expected to be finalized within the next few days.

The source stated that the Ain al-Asad base housed approximately 2,000 American soldiers, while Victory Base Complex (VBC), located within the perimeter of Baghdad International Airport, is occupied by an additional number of soldiers.

It was also indicated by the source that a portion of the military personnel who have withdrawn have been transferred to Erbil.  link

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

Tishwash:  Economist: Raising Iraq's Credit Rating Is Key to Attracting Investment and Reducing Borrowing Costs

 from telegram

Economic expert Ahmed Abd Rabbo stressed that improving Iraq's credit rating represents a pivotal step toward reducing sovereign loan interest and boosting foreign investor confidence. He noted that most international investments do not flow to a country unless its credit rating is satisfactory and high.

Abd Rabbo explained in an interview with ABC Arabic that raising a country's credit rating sends a positive signal to global financial institutions and contributes to increased investment. He noted that the Iraqi government, in coordination with the Central Bank, is moving toward reforming the banking system, considering it "the primary interface of the economy." A strong economy cannot be built without a banking system capable of meeting market and financing needs.

He added that improving the rating is not impossible, but it requires comprehensive practical steps, starting with diversifying sources of income and strengthening non-oil sectors such as agriculture, industry, and services, along with financial reforms that reduce the deficit and control public spending.

He stressed that political and security stability are essential pillars, as international financial institutions assess Iraq's ability to simultaneously repay and manage risks. This makes progress in combating corruption and enhancing financial transparency crucial factors in improving investor confidence.

Abd Rabbo explained that improving the credit rating has positive repercussions and enhances confidence in the national economy, which contributes to achieving broader monetary and financial stability and consolidates Iraq's position in the global financial system.

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 8-23-25

Good Afternoon Dinar Recaps,

France Signals Support for India’s 2026 BRICS Presidency

French President Emmanuel Macron has pledged full support to India’s BRICS 2026 Presidency, signaling a possible breakthrough for European engagement with the bloc.

Macron and Modi’s Strategic Call

During a Thursday phone call, Macron and Indian Prime Minister Narendra Modi discussed:

• India’s BRICS 2026 Presidency and France’s willingness to support it.

• The Russia-Ukraine conflict, following former U.S. President Trump’s meeting with Vladimir Putin in Alaska.

• Expanding France–India trade ties across multiple sovereignty-critical sectors.

Macron emphasized: “We agreed to work closely together in preparation for the French presidency of the G7 and India’s presidency of BRICS in 2026.”

Could France Attend the BRICS 2026 Summit?

• India will host the BRICS 2026 Summit, and speculation is rising that France may receive a formal invitation.

• France previously attempted to attend the 2023 BRICS Summit in Johannesburg, but its request was rejected, reportedly due to opposition from China and Russia.

• With India’s leadership, insiders believe the door may open for a European guest presence at BRICS for the first time.

West-East Realignment in Motion

The Macron–Modi call comes as global alliances shift:

• The U.S. has imposed tariffs on nearly all European allies, including France.

• These trade conflicts are nudging Europe closer to Asian partners.

• Even Australia is signaling cooperation, sending mixed signals to China about the balance of power.

France–India Partnership Strengthening

Macron reaffirmed France’s strategic commitment:

“We agreed to strengthen our economic exchanges and our strategic partnership in all areas — this is the key to our sovereignty and independence.”

If invited to attend the BRICS 2026 Summit, France would become the first European nation to participate—a symbolic step toward bridging East and West at a time of deep geopolitical fragmentation.

@ Newshounds News™
Source: Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Saturday 8-23-2025

TNT:

Tishwash: Mazhar Saleh: Iraq's foreign reserves provide exceptional stability for the national currency.

The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Friday that the Central Bank of Iraq enjoys substantial foreign reserves that represent the primary backing for the national currency. These reserves are managed within a diversified foreign currency investment portfolio in accordance with the highest standards of global banking efficiency and professionalism.

Saleh added in an interview with Al Furat News Agency that "the ability of these reserves to meet external demand for foreign currency for the purposes of financing import trade is one of the primary indicators of their efficiency," noting that "the global standard for financing trade from central bank reserves is three months' coverage, while Iraq has an exceptional capacity of up to twelve months."

He pointed out that "this level reflects a high degree of stability in the foreign exchange market, despite the temporary pressures on the current account of the balance of payments due to the relative contraction in oil prices," noting that oil revenues continue to constitute the main pillar in the formation and accumulation of these strategic reserves. 

Saleh explained that "the Central Bank largely controls the foreign exchange market by imposing an official exchange rate of 1,320 dinars per dollar for the dinar. This has contributed to keeping the annual inflation rate below 3%, which falls within what is known as the normal range for the general price level or the natural price break-up in the country."

He emphasized that this represents the highest levels of stability targeted by Iraqi monetary policy.   link

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

Tishwash:  Al-Sudani discusses with Halliburton the development of Basra fields and the expansion of associated gas investment.

Prime Minister Mohammed Shia al-Sudani received a delegation from the American company Halliburton on Thursday, headed by Shannon Slocum. The two discussed ways to enhance cooperation in the oil and gas sector and develop Iraqi fields using the latest global technologies. The company affirmed its commitment to supporting national cadres and expanding its investments in Basra.

Prime Minister Mohammed Shia al-Sudani received today, Thursday, the President of the American oil and energy technology company Halliburton, Mr. Shannon Slocum, and his accompanying delegation.

Mr. Al-Sudani emphasized that the presence of major oil companies in Iraq reflects the government's commitment to the country's energy sector and its efforts to develop it according to modern international standards and through the best energy companies. He emphasized the government's vision for developing the oil and gas sectors and its commitment to ensuring that development takes place with the highest possible capabilities provided by advanced technology, as well as Iraq's continued expansion of its use of associated gas and the production of petroleum derivatives.

His Excellency pointed out the importance of expanding the scope of work with Halliburton, given its expertise and capabilities in the fields of extraction and refining, and its possession of modern global technologies. He affirmed his support for the company's work in developing the Nahr Bin Omar and Sindbad fields in Basra Governorate.

For his part, Mr. Slocum affirmed Halliburton's interest in operating in Iraq, given the country's progress across all sectors, its stability, and its openness to major international industrial companies. He explained that the company is committed to providing the latest technological developments for oil and gas fields, after finalizing the contract model.

He also stated that the company will employ modern administrative and technical methods in its work, and is committed to developing the skills of the Iraqi cadres working with it.  link

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

Tishwash:  A Second Term Hanging by a Thin Thread: Al-Sudani Swings Between Washington and Domestic Allies

Al-Masala: Prime Minister Mohammed Shia al-Sudani faces an early test as he seeks a second term, amid intensifying US pressure to end the influence of armed factions. Meanwhile, these factions insist on remaining a strategic shield in the national security equation.

 The scene reveals a complex battle, where domestic considerations intersect with external dictates. The upcoming elections are becoming an indirect battleground for the struggle over the identity of the Iraqi state between the "government centralization" project and the "armed pluralism" project, which constitutes an extension of the post-2003 balance of power.

 A report by the American Soufan Institute indicates that the recent clashes in the Dora district of Baghdad have once again highlighted the duality of power between official state institutions and the centers of influence represented by the factions. This reflects the political system's inability to resolve the debate over who ultimately holds the sovereign decision.

 Observers believe that these factions are not merely military arms, but rather a deeply rooted social structure supported by a broad segment of the Shiite community, which still recalls the experience of ISIS's invasion of large swaths of Iraq in 2014 and the subsequent expansion of the factions as a rescue force in the face of an existential threat.

 Al-Sudani's government is trying to strike a balance between reassuring Washington and its regional partners that Iraq is capable of asserting its security sovereignty, while at the same time avoiding a rupture with the factions, which represent a political pillar within the Coordination Framework, their primary incubator. 

The approaching general elections in November require Al-Sudani to carefully consider his options. The continued fragile balance may give him additional time to regroup, but it also increases the risks if Washington decides to increase the pressure or if the factions choose to test their strength on the street.

For Al-Sudani, the battle for a second term appears to hinge on his ability to market himself as a man of possible consensus. However, he realizes that his image as a "statesman" versus a "factionalist" may determine his political future more than the ballot box.  link

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 Mot:  Neighbor Found a Lost Cat .. Might Need a New Loving Home  

Iraq Economic News and Points To Ponder Friday Evening 8-22-25

An Economist Predicts The Next Government Will Change The Dollar Exchange Rate, And Explains The Reasons.
 
Time: 2025/08/20 Reads: 3,240 Times  {Economic: Al Furat News} Economists expect   the next government to resort to   an official devaluation of the Iraqi dinar against the US dollar, as   a potential solution to address the increasing financial burdens,  most notably the massive government payroll.

Economic expert Nabil Al Marsoumi told Al Furat News that "the payroll accounts for the largest portion of oil revenues, leaving little for  upgrading infrastructure or     basic services." 

Al Marsoumi believes that   devaluing the currency will provide greater financial revenues in dinars, which   will help the government cover salary expenses. 

He added that this option may be one of the necessary measures the new government may take,  especially in light of the current oil prices that threaten to hinder the country's economic development prospects.
 
Experts emphasize that sustainable solutions lie in     diversifying sources of public revenue and
 eliminating total reliance on oil, in order  to ensure long-term stability for the Iraqi economy.  
  
https://alforatnews.iq/news/خبير-اقتصادي-يتوقع-توجه-الحكومة-المقبلة-لتغيير-صرف-الدولار-ويوضح-الأسباب 

New Deadline For Iraqi Banks To Lift Sanctions
 
Economy | 22/08/2025   Mawazine News / Follow-up  Iraqi banks granted a "rescue period" after they rejected Oliver Wyman's plan.
 
Following sharp disagreements between the-  Iraqi Private Banks Association and the  Central Bank of Iraq,  and their rejection of the banking reform paper  approved by the bank  based on a plan by the

 American consulting firm Oliver Wyman, and   Al-Sudani's resort to Washington in search of a solution,
 
Oliver Wyman approved amendments to its terms as part of a "rescue plan" for the banks,
which included the following:
 
The deadline for submitting pledges has been extended to September 30,
 instead of the end of August,  in consideration of "flexibility" in implementing the banking reform plan.
 
- Expanding the timeframe for increasing capital from 200 to 400 billion,
     gradually over four phases,   at a rate of 50 billion dinars annually until 2028.
 
- Raising the requirements for family ownership from 10% to 40% of a bank's portfolio,     which will give private banks greater opportunities to  engage in the reform plan and  escape the restrictions on dollar transactions imposed by the   Federal Reserve and the Treasury Department, by early 2029.
 
Banks that fail to join the reform process will be allowed to operate exclusively in Iraqi dinars,
  without their licenses being revoked.  https://www.mawazin.net/Details.aspx?jimare=265562   

L-Ghariri: Iraq Is Now In An Advanced Position To Join The World Trade Organization.
 
Friday, August 22, 2025 | Economic  readings: 565   Baghdad / NINA / Minister of Trade Athir Al-Ghariri announced that 
Iraq has completed the technical files to join the World Trade Organization.
 
Al-Ghariri said in a statement:   "Iraq has completed all the technical files required to join the World Trade Organization,  after a negotiating process that spanned more than twenty years, during which Iraq faced numerous challenges and delays." 

He added, "This achievement was made during the lifetime of the current government,   through intensive qualitative efforts that surpassed what was accomplished in all previous stages combined," stressing,
 
"Iraq is now in an advanced position paving the way for fulfilling the requirements for full membership." 
 
The Minister of Trade explained:
 
"The national team concerned with accession, in coordination with the   relevant ministries and
  sectoral bodies and in  partnership with international institutions,   has completed the review and updating of all technical files, which include: the   foreign trade system memorandum, the   legislative implementation plan,   agricultural support tables, the   import licenses file,   customs valuation, in addition to the  sanitary and phytosanitary (SPS) and   technical barriers to trade (TBT) files."

He continued:  "The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization,
 
while the Iraqi customs system was updated  to the latest version in line with international standards and   enhancing Iraq's readiness for the next stages." 

He stressed: "The files will be officially submitted to the World Trade Organization Secretariat
     through diplomatic channels,   in preparation for the next meeting of the working group."  
  
https://ninanews.com/Website/News/Details?Key=1247648  

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