Article: "Iraq: Concluding Statement of the 2025 IMF Article IV Mission" Quote: "An International Monetary Fund (IMF)...met with the Iraqi authorities in Amman and Baghdad during May 4–13 to conduct the 2025 Article IV consultation...
A highly uncertain global environment, falling oil prices, and acute financing pressures, are taking a toll on economic activity and exacerbating Iraq’s existing vulnerabilities, calling for urgent measures to preserve fiscal and external stability..
Article quote continued: "Building on recent progress, the Central Bank of Iraq (CBI) should continue modernizing the banking system..
.
The mission commended the CBI for the successful transition to the new trade finance system.Trade finance is now fully processed by commercial banks through their correspondent banking relationships. This has also supported the recent decline in the spread between the official and parallel market exchange rates. Nonetheless, further efforts are needed to further reduce the spread, including by imposing Iraqi dinar usage for car and real estate transactions, improving customs controls to curb smuggling, and simplifying FX access."
2025 Budget: Government Advisor Outlines Spending Priorities And Plans To Address Trillion-Dollar Deficit
Time: 2025/05/21 Read: 2,430 times {Economic: Al Furat News} The Prime Minister's financial and economic advisor, Mazhar Mohammed Salih, revealed important details related to the budget for the remainder of 2025 and the impact of global economic variables on the oil market.
In a press statement, Salih confirmed that "Iraq was able to sell its oil until the end of the first quarter of 2025 at an average price of $75 per barrel, which exceeds the price specified in the general budget law of $70."
He pointed to the paradox witnessed by the global oil market, as the OPEC+ group recently lifted its restrictions on member states' production, driven by a decline in global oil inventories. However, this increase coincided with the escalation of the trade war between the United States and China, and the subsequent imposition of customs tariffs, which produced signs of a recession in the global economy.
Salih explained that a 1% decline in economic growth leads to a half-percent decline in demand for crude oil and vice versa, noting that this has created a "downward oil asset cycle."
Regarding the Iraqi general budget for the rest of 2025, Salih indicated that it will operate according to the principle of "fiscal space," which is based on flexibility in controlling public expenditures.
He emphasized that priority in spending will be given to government salaries and wages, pensions, and social welfare, which affect the lives of eight million Iraqis. He also stressed the need to continue Spending on infrastructure projects remains uninterrupted, as they are linked to the government's development and reform agenda.
Saleh noted that the budget includes a hypothetical maximum borrowing limit of 64 trillion Iraqi dinars (about $1.5 trillion) to cover the deficit gap, out of an upper ceiling of 200 trillion dinars. He emphasized that the Ministry of Finance will borrow to finance the project when needed. LINK
Bruce has some intel and we are ready to go - last night he heard and now fine tuned – what we have is a number of points of things that RC personnel staff were made aware of yesterday and this is regarding our exchanges and Zim and they wanted the staff to be up to date and to expect – and these are not in a particular order.
When you get to the RC you will have some bio-metrics a camera taking a picture of you what will give them facial recognition – we know we’ll have fingerprints taken and those QFS cards are in the RC and also have our names on them.
Everything that we say and do will be recorded for ever into the Quantum system – what we say and our voice saved and archived.
This goes back to the setting up when we get the number our call will be transferred or given the direct phone number by the Zip code of where you live or work for your area. What they are going to do to confirm your time slot and when that is confirmed will be by email and/or a phone text. So that will be your option when you call.
All of the exchanges on Dinar IQD VND and Zim all of those exchanges are asset backed exchanges and we know that
After your exchange you will be able to have people to help you with investments - and Bruce plans on doing that with interest paid and project support – so help in terms of management with your funds/exchange.
Bruce asking Sue
Bruce thinks that’s most of it -
You are going to received Qcard to give you access to your Quantum Account and also a Sovereign Wallet – that’s what they are calling your Quantum Account and the card is only used to move funds to your bank accounts – and no interest is made on those Quantum accounts - so like a Primary account and then other bank accounts and that is where you can earn interest up to a very good rate of interest. To Bruce there is really no need he thinks for other investments. And those quarterly payments will be amply for us for our projects.
And Lastly the timing of this - final clarification
The Beginning of the notifications and emails they can start as early as 5.01 tomorrow - they are saying they can come out anytime within 28 hours and this is dependent upon one thing –
so ALL of the banks around the globe fully connected and synced with the Starlink system will will have that in the first 28 hours which would put us to sometime Saturday night or Sunday morning if we don’t have it in that time – they would add another 28 hours after ALL BANKS ARE FULLY CONNECTED AND THEY ARE GETTING THIS READY RIGHT NOW- SO WE COULD GET WORD TOMORROW – AND THE WEEKEND IS WHEN WE SHOULD GET NOTIFIED.
And here is the other thing with Monday being a holiday – one RC leader was told he might be working for 4 – 5 hours – so if we get started Sat/Sun - would we go through with appointment exchanges Monday – Bruce thinks that is a possibility.
So that may or may not happen depending on the location – so this is most likely to now go well into June. Before they close down the RC’s - so we were lucky to get this detailed information and it’s very meaningful and they put this in writing to the staff and this tells us this is going and this is NOT AN ALMOST BUT THIS IS HAPPENING NOW AND THIS IS NOT A DRILL THIS IS THE REAL McCOY.
So this starts as early as 5.01pm Friday - and then 28 hours so would be 9PM Saturday night and if all is totally connected globally and with Starlink and what is really cool that’s why it’s 28 hours for the FULL CONNECTION
What about SS increases – well it didn’t happen this week – but the theory is next week and if you are the last week of the month – it’s going to be a nice increase month after month,
First Doge payments in June. So THE MONTH OF JUNE for Doge Payments and Bruce is again giving a rundown of the payments you should be going to receive and if you are 60+ it’s a very very large amount - and they really didn’t know if it would be a cheque or DDeposit because the numbers are too big.
And R&R for us at the RC they will be in our Quantum accounts or they will send it to you by DDeposit and then all that will be in our QFS account.
Bruce is back – here is the deal and biggie and remember the Debt Jubilee Nesara and Gesara so this is part of it – Debt Jubilee and it’s starting June 3rd and complete by July 4th and what a CELEBRATION THIS WILL BE. So what are we talking about debt relief from mortgages debit cards car loans CC etc., and it’s all going to be wiped out and that is wild and it is part of Nesara and will they announce that –
so say you have a mortgage - that would be forgiven and wiped out and you’d get a letter that the loan is forgiven and you’ll receive clear title to the property. In Bruce’s case he’s going to pay June’s and wait and see what happens for July.
Also the House of Representatives pass the ONE BIG BEAUTIFUL BUDGET BILL and was sent to the Senate for Ratification - he got most of what he wanted. But we are still hearing about the IRS going away and we’ll all be pleasantly surprised. DJT wanted it by Memorial Day or shortly thereafter. So that’s all pertinent to us -
PRAYING WITH ALL MY HEART THIS IS THE VERY VERY LAST REGULAR CALL.
The Governor Of The Central Bank Participates In The First International Conference On Carbon Economics In Iraq.
May 21, 2025 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, participated in the first international conference on carbon economics in Iraq, as a key partner and supporter of combating climate change and reducing carbon emissions.
On the sidelines of the conference, His Excellency said in his speech:
The opportunity is ripe to contribute to preserving an environment that has been exhausted by wars and various pollutions,
mentioning a group of initiatives taken by the Central Bank of Iraq within a series of innovative solutions and measures that contribute to mitigating direct environmental challenges.
Among these solutions, the Central Bank, in cooperation with the Supreme Committee for Lending in the Council of Ministers, presented an initiative of (1) trillion dinars, to shift from the use of traditional sources to renewable energy sources, reduce carbon emissions, and expand green spaces to achieve sustainable development. He added that
the Central Bank of Iraq, in cooperation with the World Bank, worked to develop a green financing model and implement it within the financial sustainability roadmap approved by the Central Bank of Iraq for the period (2023-2029), and
one of its outcomes is the development of a sustainable financing roadmap for managing environmental, social, and governance (ESG) risks.
Revealing the commencement of granting specialized banking licenses to support climate and environmental conservation through financing green projects,
namely Riyada Bank and the Green Bank, and work is underway to soon integrate these banks into the Iraqi banking ecosystem. He explained that
the Central Bank of Iraq has presented important projects, including the
rehabilitation of brick factories to convert from polluting fuel (black oil) to cleaner fuel (liquid gas) to reduce carbon emissions,
as part of the trillion-dinar initiative, with an amount of 500 million dinars for each factory.
Announcing the Central Bank of Iraq's funding of waste recycling projects within the framework of the Renewable Energy Initiative,
the project aims to help reduce soil pollution, particularly in sanitary landfills.
This poses a future environmental risk, impacting the type and quality of soil in housing, agricultural, and other projects.
His Excellency concluded by saying that he seeks to cooperate and offer initiatives in this field, based on his belief in the bank's ability to
create a better environment, increase community well-being, and overcome the environmental challenges surrounding Iraq.
Just dropping in to share my bank story from today.
As I suspected.... This was a appointment to introduce me to the area VP Private Client Wealth Advisor for Chase. He has a list of people who had Trust accounts and whom they knew had foreign currency.
This was more of a introduction to what services as far as investments that they Offer to their customers with over who have a good amount of money in their accounts.
They clearly knew we are getting very close to having a major financial shift... Within Days. They wanted to have their opportunity to WOW me and my wife. Their ideas were not in line with our intentions and goals.
They asked about my injury since when I met the Private Banker in January, I was still in bandages and on my knee scooter. And today was no different. Still messed up. Of course they asked about my legal status of my case which I would not share.
When planning out your families futures... Interview several wealth management teams and find someone you resonate with and who will listen to you and your spouse.
Make sure that person is a Fiduciary Wealth Manager.
Do your due diligence and research. That's what we are doing. Take your time.
