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Zimbabwe Authorities Mix Charm With Force In An Attempt To Shore Up The World’s Newest Currency
FARAI MUTSAKA Sun, May 26, 2024
HARARE, Zimbabwe (AP) — The introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.
The catchy tune, titled “Zig Mari,” received generous play on state television and radio. The musician, Ras Caleb, received a car and $2,000 — ironically paid in greenbacks, not the new ZiGs — from a businessman with close ties to Zimbabwe's ruling party and President Emmerson Mnangagwa; he said he wanted to reward an act he considered “patriotic.”
Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get.
Desperate to halt a money crisis underlining the country’s economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.
Zimbabwe Authorities Mix Charm With Force In An Attempt To Shore Up The World’s Newest Currency
FARAI MUTSAKA Sun, May 26, 2024
HARARE, Zimbabwe (AP) — The introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.
The catchy tune, titled “Zig Mari,” received generous play on state television and radio. The musician, Ras Caleb, received a car and $2,000 — ironically paid in greenbacks, not the new ZiGs — from a businessman with close ties to Zimbabwe's ruling party and President Emmerson Mnangagwa; he said he wanted to reward an act he considered “patriotic.”
Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get.
Desperate to halt a money crisis underlining the country’s economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.
Senior officials from the Reserve Bank of Zimbabwe and the ruling ZANU-PF party embarked on a flurry of public rallies and meetings to encourage the skeptical population to now embrace the ZiG ahead of the U.S. dollar — also legal tender in the southern African nation. Commercial jingles heralding the currency flooded the airwaves along with Caleb's single.
Yet despite the charm offensive, the ZiG is facing a familiar problem: public mistrust and structural barriers that have people still clamoring for U.S. dollars. Although the ZiG has largely held its value on the official market, it has tumbled on the black market, where $1 can be exchanged for up to 17 ZiGs.
Law enforcement agents have arrested more than 200 street currency dealers on allegations of flouting foreign currency exchange regulations, national police spokesman Paul Nyathi said. The government accuses them of undermining and devaluing the new currency by using exchange rates higher than the official one.
Twin brothers Tapiwa and Justice Nyamadzawo, 24, were arrested two weeks after the launch of the new currency after allegedly selling undercover detectives cellphone airtime worth $10 at a rate of 15 ZiGs per dollar, according to court papers. The official exchange rate was just over 13 ZiGs per dollar. Like other currency traders, the twins were denied bail and remain in pretrial detention on charges that carry a maximum prison term of 10 years.
The crackdown is incongruous, because Zimbabwe has a long history of street currency dealers whose unofficial rates often carry the day. Many shops and merchants also ignore the official rate and only accept the local currency at their own rates. And many vendors, particularly in the unlicensed sector that employs more than 80% of adult Zimbabweans, still only accept the dollar.
What's more, the government has allowed some businesses, such as gas stations, to refuse to accept the ZiG in favor of U.S. dollars. Some departments, like the office that issues and renews passports, also accept only greenbacks. Many others still list their fees in U.S. dollars, although they accept the equivalent in local currency.
The government has announced fines up to 200,000 ZiG or about $15,000, for businesses that fail to stick to the official exchange rate. Authorities have also frozen bank accounts of some businesses on accusations of rejecting the new currency or trading using exchange rates higher than the official rate. The Reserve Bank didn't name the affected businesses.
Zimbabwe has a long and tumultuous history of monetary instability. The ZiG is the sixth currency used following the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes.
The government printed a 100-trillion Zimbabwe dollar banknote to keep up with spiraling prices that saw a loaf of bread going for more than 500 million Zimbabwe dollars.
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https://news.yahoo.com/news/finance/news/zimbabwe-authorities-mix-charm-force-052549339.html
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Iraqi Dinar Video Update Monday Afternoon 5-27-24
Iraq Economic News and Points To Ponder Monday Evening 5-27-24 – 3:42
Wait Is Over Revaluation 2024 – 4:10
iraqi dinar Set 3.86$ New exchange rate – 4:10
Iraqi Dinar Video Update Monday Afternoon 5-27-24
Iraq Economic News and Points To Ponder Monday Evening 5-27-24 – 3:42
Wait Is Over Revaluation 2024 – 4:10
iraqi dinar Set 3.86$ New exchange rate – 4:10
Iraq Economic News and Points To Ponder Monday Evening 5-27-24 – 3:42
Wait Is Over Revaluation 2024 – 4:10
iraqi dinar Set 3.86$ New exchange rate – 4:10
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Iraq Economic News and Points To Ponder Monday Evening 5-27-24
A Positive Report From The World Bank On Iraq's Monetary Policy
Economy | 05/27/2024 Baghdad - Mawazine News The report issued by the International Monetary Fund mission for the current year 2024 for Article Four consultations, today, Monday, praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated, according to a statement issued by the Central Bank and received by “Mawazine News,” that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation,” adding that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5%.” % and increasing banks’ mandatory reserve requirements from 15% to 18%.
These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.
Iraq Economic News and Points To Ponder Monday Evening 5-27-24
A Positive Report From The World Bank On Iraq's Monetary Policy
Economy | 05/27/2024 Baghdad - Mawazine News The report issued by the International Monetary Fund mission for the current year 2024 for Article Four consultations, today, Monday, praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated, according to a statement issued by the Central Bank and received by “Mawazine News,” that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation,” adding that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5%.” % and increasing banks’ mandatory reserve requirements from 15% to 18%.
These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.
The report stressed that “important reforms in the banking sector such as gradually increasing In bank capital and mergers between small banks aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”
The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”
https://www.mawazin.net/Details.aspx?jimare=248722
The Minister Of Finance Confirms The Government's Commitment To Implementing The Financial Management Law
Economy Monday, May 27, 2024 3:54 PM The Minister of Finance confirms the government's commitment to implementing the Financial Management Law https://nnciraq.com/256545/
The Iraqi Central Bank Sells More Than $275 Million During Today's Auction
Economy News – Baghdad The Central Bank of Iraq announced, on Monday, its sales of hard currency, amounting to more than 276 million dollars in today’s transactions, according to the official rate of 1310.
The bank's data showed that the total internal cash withdrawals amounted to $25,100,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $251,787,116, while the total sale amounted to $276,887,116.
Views 80 05/27/2024 - https://economy-news.net/content.php?id=43768
Iraq Is Close To Opening The First Factory To Produce Naval And Military Boats
Money and business Economy News – Baghdad During the current year, the Military Industries Development Company will open the first factory of its kind in the country to produce military naval boats, revealing that it has concluded pre-manufacturing contracts with the leadership of the Naval Force.
The company’s general manager, Ali Mohsen Khudair, said in a statement followed by Al-Ahed News Agency, “The authority, as part of its plans to develop the military industry in the country in cooperation with international companies, will open during the current year the first factory of its kind for the production of military naval boats, and it will also specialize in rehabilitating and maintaining ships.” River and marine vessels.
He added, "The factory, which was equipped with the latest advanced devices and equipment, and is currently in operation, is located within the site of the (Uqba bin Nafi) facility in the Yusufiyah region, noting that the production of boats of various types was carried out before 2003 within the Dhat Al-Sawari Company affiliated with the Ministry of Industry and Minerals." However, it was not at the required level.”
Khudair revealed that “the Authority had concluded prior contracts with the leadership of the Iraqi Naval Force to equip it with naval boats with specific specifications, which reflects the success of the economic feasibility achieved previously, which focused on the factory’s production of boats of various types, in accordance with the requirements and specifications of the beneficiary in the security services of the maritime police.” And the river.”
He pointed out that "the manufactured boats are characterized by being fast interceptors, designed according to international specifications, operating with high efficiency in various marine conditions, and also enjoying high stability."
The company director confirmed, “The Authority intends to develop the work of the fleet of boats and military naval boats of various types, which will contribute to supporting the country’s economy as well as creating great job opportunities for the workforce:. 201 views Added 05/27/2024 - https://economy-news.net/content.php?id=43765
Decrease In Dollar Exchange Rates In Baghdad And The Provinces
Economy | 05/27/2024 Baghdad - Mawazine News Today, Monday, the dollar exchange rates recorded a decrease in the local markets in Baghdad and the governorates. Below is a list of exchange rates:
Baghdad 145,000 Erbil 144,925 Basra 145,000 Najaf 145,000 Mosul 145,000 Kirkuk 144,950 Sulaymaniyah 144,850 https://www.mawazin.net/Details.aspx?jimare=248730
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Money
Never ask of money spent Where the spender thinks it went. Nobody was ever meant To remember or invent What he did with every cent.-Robert Frost
The almighty dollar, that great object of universal devotion throughout our land, seems to have no genuine devotees in these peculiar villages.-Washington Irving
Jesus went into the temple... overthrew the tables of the money changers, and the seats of them that sold doves.-Bible
When I had money everyone called me brother.-Polish proverb
Take care of the pence, and the pounds will take care of themselves.-William Lowndes
Ah, take the Cash, and let the Credit go, Nor heed the rumble of a distant Drum!-Omar Khayyam
When money speaks the truth is silent.-Russian proverb
Money is not required to buy one necessity of the soul.-Henry David Thoreau
Not greedy of filthy lucre.-Bible
The love of money is the root of all evil.-Bible
http://www.famousquotesandauthors.com/topics/money_quotes.html
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Francis Hunt: Death of Fiat Money Means Incredible Targets for Gold, Silver, & Copper
Palisades Gold Radio: 5-27-2024
In this episode of Palisades Gold Radio, Tom Bodrovics welcomes back Francis Hunt, also known as the Market Sniper, for a discussion on the importance of shared experiences, living deliberately beyond the financial world, and the upcoming gold and silver discussion focusing on preserving assets during monetary transition.
They emphasize the significance of understanding reality, accepting limitations, and building bonds for amplified experiences.
Francis discusses the current economic situation involving debt contraction and the seesaw analogy representing nation states' debt levels and currencies.
Japan's excessive debt is predicted to cause a currency collapse, leading to significant losses for various assets, including the 30-year treasury.
Francis Hunt: Death of Fiat Money Means Incredible Targets for Gold, Silver, & Copper
Palisades Gold Radio: 5-27-2024
In this episode of Palisades Gold Radio, Tom Bodrovics welcomes back Francis Hunt, also known as the Market Sniper, for a discussion on the importance of shared experiences, living deliberately beyond the financial world, and the upcoming gold and silver discussion focusing on preserving assets during monetary transition.
They emphasize the significance of understanding reality, accepting limitations, and building bonds for amplified experiences.
Francis discusses the current economic situation involving debt contraction and the seesaw analogy representing nation states' debt levels and currencies.
Japan's excessive debt is predicted to cause a currency collapse, leading to significant losses for various assets, including the 30-year treasury.
Time Stamp References:
0:00 – Introduction
9:55 - Analyze & Take Action
13:32 - Resilience & Emotions
17:07 - Debt/Fiat Contraction
19:56 - US 30Y Treasury
34:00 - Bond Rates & Control
36:05 - Gold/Dollar Chart
43:44 - 30Y Debt Reversion
46:37 - Shrinking Dollar Value
48:00 - Silver Levels & Support
53:30 - Gold/Silver Ratio
59:20 - Copper Chart
1:01:42 - Coffee Chart
1:03:48 - Gaps Down in Bull Runs
1:06:39 - UPS Parcel Chart
1:09:48 - Case For Platinum
1:19:22 - Wrap Up
Talking Points From This Episode
- Amidst economic instability, owning physical gold, silver, and land provides control over possessions and escapes debt-based systems.
- Platinum has underperformed since 2009 but could experience over performance due to historical trends and cross-valuation.
- Invest in commodities like gold, silver, and platinum while shorting debt and fiat currencies during stagflation.
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DJ: DID YOU KNOW?
I’ve been a proponent of watching for indicators of the developing mechanisms and solutions that would be required for the GCR to actually come to fruition. As opposed to speculation and wishful thinking commentary. One of the “spoke of ingredients” is the Quantum Financial System (QFS) and the ability to utilize quantum computing.
When you dive into it, a practical quantum computer, as of now, does not exist. It has been suggested, by all quantum researchers, that we are at least a decade away from achieving that goal.Yet in various recent breakthroughs that may not be so.
Qubits are the foundation of a quantum computer. They’re responsible for processing, transferring, and storing data. Effective qubits must reliably store and rapidly process information. This demands stable, swift interactions among a large number of qubits that external systems can accurately control.
DJ: DID YOU KNOW?
I’ve been a proponent of watching for indicators of the developing mechanisms and solutions that would be required for the GCR to actually come to fruition. As opposed to speculation and wishful thinking commentary. One of the “spoke of ingredients” is the Quantum Financial System (QFS) and the ability to utilize quantum computing.
When you dive into it, a practical quantum computer, as of now, does not exist. It has been suggested, by all quantum researchers, that we are at least a decade away from achieving that goal.Yet in various recent breakthroughs that may not be so.
Qubits are the foundation of a quantum computer. They’re responsible for processing, transferring, and storing data. Effective qubits must reliably store and rapidly process information. This demands stable, swift interactions among a large number of qubits that external systems can accurately control.
Today’s most advanced quantum computers possess only a few hundred qubits. This limits them to performing calculations that conventional computers are already capable of and can often do more efficiently. For quantum computing to advance, researchers must find a way to accommodate millions of qubits on a single chip.
While there has been an array of new developments with quantum engineering, the component needed most is the ability to create a chip that can hold millions of qubits in a single chip. The actual physical mechanism needed to utilize a qubit’s full potential. Recently researchers have developed a way, through AI, to make these chips and other components.
Think of it like this. You can ask an AI, verbally, to print an image of whatever you define. And they print you an image. Now you can ask an AI to make an object as you define it. Kinda like an advanced 3-D printer. You lay out the specifications of what you need, in a chip, and it can be made. Basically you can make a quantum computer piece by piece as you define what you need.
This is a massive breakthrough in the actual hardware needed to implement the QFS. Now all they have to do is come to a consensus as to what type of qubits they want to use. There are a lot of different types of qubits.
So if you want some positive indicators of the GCR look to the factual things needed.
The Central Banks have been buying and storing gold reserves at historical levels.
The quantum systems needed to distribute and monitor the funds have advanced further than expected by years.
Legislative actions have been introduced in congress. (H.R. 2435 in the 118th Congress).
Remember the three things that need to be in place for a country to participate in the GCR/RV/Redemption.
You must be sovereign, all debts must be settled and you must be at peace.
Think about it. If you were a country, good or bad, and had the opportunity to benefit from a financial windfall that could fix your country by signing an agreement that would give you sovereignty, eliminate your debt and end war. Would you do it?
DJ
https://www.rumormillnews.com/cgi-bin/forum.cgi?read=240928
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Pimpy Iraq was already a member of the World Trade Organization. They are going through the ascension process for a second time. That's because all the rules, regulations, understandings and business practices...changed once the fall of Saddam Hussein. Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization. Iraq has been a member of the World Trade Organization since 2004. This is their second time throughout the ascension process...
Militia Man If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.
Is BRICS the Secret Weapon to Dethrone the US Dollar? Discover the Bold Moves Ahead!
Satoshi Finance: 5-27-2024
In this video, we explore how BRICS—Brazil, Russia, India, China, and South Africa—plan to challenge the dominance of the US dollar.
Discover the strategic moves, such as the creation of the New Development Bank (NDB), local currency trade initiatives, and the potential establishment of a BRICS currency.
We'll delve into China's pivotal role, the possible impact on the global economy, and the challenges faced by BRICS.
Join us as we unpack the future scenarios and long-term implications of this ambitious endeavor.
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BRICS Financial Forum Today: Is BRICS Currency?
Fastepo: 5-27-2024
The BRICS International Financial and Economic Forum (IFE Forum BRICS 2024), set to open on Monday in Moscow, will bring together approximately 700 guests from around the world, with tens of thousands participating online.
This event aims to foster discussion among ministers, diplomats, company executives, and experts on the creation of independent financial instruments within the BRICS framework and business development amid global transformations.
Key topics at the forum will include the development of new payment, settlement, and emission activities for BRICS countries.
The main goals are to facilitate the smooth entry of BRICS countries into new markets, boost mutual trade and investment, and strengthen ties among business circles, governments, and communities.
BRICS Financial Forum Today: Is BRICS Currency?
Fastepo: 5-27-2024
The BRICS International Financial and Economic Forum (IFE Forum BRICS 2024), set to open on Monday in Moscow, will bring together approximately 700 guests from around the world, with tens of thousands participating online.
This event aims to foster discussion among ministers, diplomats, company executives, and experts on the creation of independent financial instruments within the BRICS framework and business development amid global transformations.
Key topics at the forum will include the development of new payment, settlement, and emission activities for BRICS countries.
The main goals are to facilitate the smooth entry of BRICS countries into new markets, boost mutual trade and investment, and strengthen ties among business circles, governments, and communities.
The forum will address the establishment of independent financial infrastructures to reduce reliance on Western financial systems and promote economic sovereignty among developing nations.
Key initiatives include the creation of a multilateral digital settlement and payment platform known as the "BRICS Bridge," which aims to enhance mutual trade and financial cooperation among member countries.
Additionally, the event will cover a wide array of topics such as economic growth strategies, technological advancements, and multilateralism for global development and security.
Emphasizing the integration of new members, the forum will support these countries in navigating collaboration complexities by sharing experiences and incorporating them into existing BRICS mechanisms .
One significant outcome anticipated from the forum is the adoption of resolutions concerning new financial infrastructures and the enhancement of economic cooperation among member states.
Discussions will cover various aspects, including the creation of a multilateral digital settlement and payment platform, known as the "BRICS Bridge," which aims to improve financial sovereignty and reduce dependency on Western-dominated financial systems.
Moreover, the forum will witness agreements on interparliamentary cooperation and major investment contracts between companies from Russia, Brazil, Egypt, India, Iran, China, the UAE, Saudi Arabia, Ethiopia, and South Africa.
Notably, countries that are not BRICS members, such as Algeria, Yemen, Palestine, Peru, and Tunisia, will also participate, indicating the forum's broad international appeal and its potential to enhance global economic cooperation.
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Goldilocks' Comments and Global Economic News Monday Afternoon 5-27-24
Good evening Dinar Recaps,
I will be taking the day off Monday to spend time with my family and friends for Memorial Day. I expect to return Tuesday morning with more information on where we are in the transition of our economy. © Goldilocks
Goldilocks' Comments and Global Economic News Monday Afternoon 5-27-24
Good evening Dinar Recaps,
I will be taking the day off Monday to spend time with my family and friends for Memorial Day. I expect to return Tuesday morning with more information on where we are in the transition of our economy. © Goldilocks
504,339 views May 25, 2016 Memorial Day Tribute
The Oasis Christian Church video honoring the fallen hero's of war. Freedom came at a high price and we want to say thank you to all the men and women of our armed forces. https://youtu.be/i-ZCvBct6lA?si=zrgCtIFgSAVwW0Bn
~~~~~~~~~
Tomorrow, MICA (Global Regulations) are done. Then, we begin the process of implementing the QFS. It will not be done in one day, but the process begins. © Goldilocks
~~~~~~~~~
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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
TNT: Tishwash: We are not Qashmars.” Parliamentary Finance reveals a surprise about the 2024 budget and reveals what is hidden
A member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed that stopping disbursem*nt in the 2024 budget is due to the lack of cash liquidity, as there is a need for 17 trillion per month, while all revenues do not reach the limits of 10 trillion, so the problem is the lack of money whether it is Vote on the budget in the House of Representatives or not.
Sanad said in a voice print seen that “the budget tables, whether voted on by the House of Representatives or not, will not stop the budget, as the tripartite budget came to treat the annual budget, knowing that the annual budget has no problem if it comes.”
TNT:
Tishwash: We are not Qashmars.” Parliamentary Finance reveals a surprise about the 2024 budget and reveals what is hidden
A member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed that stopping disbursem*nt in the 2024 budget is due to the lack of cash liquidity, as there is a need for 17 trillion per month, while all revenues do not reach the limits of 10 trillion, so the problem is the lack of money whether it is Vote on the budget in the House of Representatives or not.
Sanad said in a voice print seen that “the budget tables, whether voted on by the House of Representatives or not, will not stop the budget, as the tripartite budget came to treat the annual budget, knowing that the annual budget has no problem if it comes.”
The annual budget has ended and the year after which the Operational Financial Management Law is implemented, 1/12 is spent, and investment is spent on completed work sectors, that is, when the contractor completes his work, he receives his money even if he exceeds the governorate’s allocations for the previous year, and this was implemented in 2022, and the Minister of Planning had an important role in it. Crafting this story.”
The representative explained, “The tripartite budget is approved schedules, but it is not permissible and there is no justification for stopping disbursem*nt, and stopping disbursem*nt is due to the lack of cash liquidity, as the 2023 budget was 206 trillion, and it was exceeded by 8 trillion, and revenues are approximately 130 to 140 trillion.” Per year, therefore, according to the 2024 budget, there is a need for 17 trillion to be spent per month.
Where are these amounts obtained from?
At a time when oil revenues are 8 to 9 trillion, and there are licensing expenses that are obtained in addition to the revenues that come from taxes, customs, and others. There are also 400 thousand barrels from the region, and all of these will not reach 10 trillion per month, so the problem is the lack of money whether the budget is voted on in the House of Representatives or not.”
A member of the Finance Committee pointed out that “the 2023 budget was voted on, but the governorates were funded with only 30 percent of their entitlements, and the same is true with the ministries and investment. This is all a clear game, and we (are not Qashmars), but rather understand state affairs.” link
************
Tishwash: A government advisor reveals a plan to reduce the budget deficit
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the variables of the financial tables for the 2024 budget are consistent with the constants of the tripartite budget, and while he indicated that the pattern of spending will contribute to reducing the deficit, he pointed to the presence of high discipline in maximizing non-oil revenues.
He pointed out that "oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a positive change rate of more than 16 percent above the approved price, and we are approaching the middle of the fiscal year while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with... International agreements with OPEC on the issue of controlling production quotas.”
He added, "There is high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs estimation, estimation, and collection."
He pointed out, “Seeking to impose discipline on operational expenditures and keeping spending on them within acceptable minimum limits, in addition to being keen to raise the efficiency of investment spending and operating all approved projects, in order to ensure a high growth rate in the gross domestic product at a rate exceeding twice the population growth rate, by launching a movement New projects without delay or stop.
Saleh stressed that “the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the acceptable international standard ratio for financing the deficit, which is.” 3 percent of the country's total gross domestic product. link
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Tishwash: With three explosive devices... targeting the KFC restaurant in Al-Jadriya
A security source reported today, Monday, that the KFC restaurant in central Baghdad was subjected to an armed attack.
The source told Mawazine News, "The KFC restaurant in Baghdad was completely damaged after it was subjected to an armed attack with three explosive devices."
It is noteworthy that the restaurant had previously received repeated threats and witnessed popular demonstrations in front of its building due to the ongoing war in Gaza.
Iraqi security forces on Sunday announced the arrest of two gunmen who targeted a branch of popular fast food restaurant KFC in Baghdad by throwing a homemade “explosive device” at the front door.
A KFC restaurant branch in Baghdad’s Palestine Street was targeted on Saturday night by two suspects on a motorcycle who “threw a homemade explosive device,” Baghdad Operations Command said in a statement.
“After following the surveillance cameras and tracking down the perpetrators, their identities were revealed and they were caught and arrested,” the statement said, adding that their pistols were also confiscated.
The attack resulted in material damage to the entrance of the restaurant.
A world-renowned American fried chicken chain, KFC is among a number of Western brands that have been subject to boycott calls over their alleged links to Israel, with boycotts in the Muslim world particularly slashing the earnings of many popular chains including McDonald’s and Starbucks.
The boycotts are in response to Israel’s deadly military campaign against the Gaza Strip which has killed over 35,700, according to the Palestinian health ministry. Israel’s campaign was in retaliation to a large-scale incursion into southern Israel by Palestinian Hamas militants based in Gaza, which killed over 1,170.
Iraq is a staunch supporter of the Palestinian cause and has on several occasions condemned the lack of global support for justice for Palestinians.
KFC also has several branches in the Kurdistan Region’s capital of Erbil, and an additional branch in Duhok city.link
Mot: .... Soooo What Can You Build with 100,000 Legos!!!???
Mot: ................ every weekend
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Iraq Economic News and Points To Ponder Monday Afternoon 5-27-24
After The Central Bank Denied And Confirmed That It Is Not Printing Them For The Time Being... Revealing The Truth About The New Currencies
Sunday 26 May 2024 23:25 | Economical Number of readings: 394 Baghdad / NINA / Today, Sunday, community circles were busy with what was reported on social media sites and platforms about the efforts of the Central Bank of Iraq to issue a new currency of 100,000 Iraqi dinars and pump it into the local market, before the Central Bank quickly denied those rumors and emphasized that there was no... There are intentions to print a new currency at the present time.
The origin of the incident, which was circulated on social media sites and platforms, goes back to artistic paintings drawn by students of the Institute of Fine Arts in the city of Mosul, which included designs for coins marked with images of the late Iraqi-born international architect Zaha Hadid and the Abbasid Caliph Harun al-Rashid, as part of the requirements for the graduation project, but the matter went beyond The scope of control quickly expanded beyond that, after pictures of the painted paintings were published and circulated as a model for the new currency that will be printed soon.
Iraq Economic News and Points To Ponder Monday Afternoon 5-27-24
After The Central Bank Denied And Confirmed That It Is Not Printing Them For The Time Being... Revealing The Truth About The New Currencies
Sunday 26 May 2024 23:25 | Economical Number of readings: 394 Baghdad / NINA / Today, Sunday, community circles were busy with what was reported on social media sites and platforms about the efforts of the Central Bank of Iraq to issue a new currency of 100,000 Iraqi dinars and pump it into the local market, before the Central Bank quickly denied those rumors and emphasized that there was no... There are intentions to print a new currency at the present time.
The origin of the incident, which was circulated on social media sites and platforms, goes back to artistic paintings drawn by students of the Institute of Fine Arts in the city of Mosul, which included designs for coins marked with images of the late Iraqi-born international architect Zaha Hadid and the Abbasid Caliph Harun al-Rashid, as part of the requirements for the graduation project, but the matter went beyond The scope of control quickly expanded beyond that, after pictures of the painted paintings were published and circulated as a model for the new currency that will be printed soon.
This comes as the Central Bank of Iraq denied issuing a new currency in the denomination of (100) thousand dinars, despite what was circulated on social media sites about a picture of a new banknote that is a “fake” picture bearing the image of the late Iraqi architect Zaha Hadid.
The bank called on citizens to be careful and not deal with it if some offer it for the purpose of fraud, stressing that there are no intentions to print a new currency at the present time, stressing that it will take legal measures against violators and promoters of this counterfeit currency./End 5
https://ninanews.com/Website/News/Details?key=1128939
International Praise For The Efforts Of The Iraqi Central Bank: Controlling Inflation And Strengthening The Banking Sector
Economy News – Baghdad The International Monetary Fund praised the actions of the Iraqi government led by the Central Bank of Iraq, indicating that it had taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
The Central Bank media stated, in a statement received by Al-Eqtisad News, that it “raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that are affecting the economy.” Iraq suffered from it, and this contributed to creating a more stable economic environment.”
The report stressed that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”
The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”
116 views Added 05/27/2024 - https://economy-news.net/content.php?id=43771
The International Monetary Fund Praises The Monetary Policy Of The Central Bank Of Iraq
Economy Monday, May 27, 2024 2:55 PM Baghdad/National News Center On Monday, the International Monetary Fund praised the monetary policy of the Central Bank of Iraq.
According to the report issued by the International Monetary Fund mission for the current year 2024 for Article 4 consultations, the Iraqi government’s measures will be more severe, including the monetary policy led by the Central Bank of Iraq.
The report indicated that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation.” It added that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5% and increased the banks’ mandatory reserve requirements from 15% to 18%.” %, and these steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.”
The report emphasized that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”
The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”
Sudanese Advisor: Oil Prices Are Still Higher Than Their Budget Estimates And We Are Trying To Keep Spending To The Minimum
Time: 05/27/2024 Read: 1,404 times {Economic: Al-Furat News} A financial advisor to Prime Minister Muhammad Shiaa Al-Sudani revealed features of the financial budget schedules for the year 2024.
Mazhar Muhammad Saleh told {Al-Furat News} agency, “The announcement of the variables in the financial tables for the past year 2024 was undoubtedly in conformity with the constants adopted by Law No. 13 of 2023, the Federal (Tripartite) General Budget Law, specifically in the axis of the hypothetical deficit amounting to approximately 64 trillion dinars, and did not stray far.” Estimates of the budget tables in the planned deficit paragraph, as stated in the law above.”
He added, "Despite the above, there are important trends in the management of the public budget, whether on the side of public expenditures, in which the spending ceiling reached 211 trillion dinars, or the revenues and deficit itself, and they are summarized as follows:
1- Oil prices are still higher than their estimates in the tripartite budget of $70 per barrel, with a percentage change." Positively exceeding 16% above the approved price above, as we approach the middle of the fiscal year, while maintaining the export rates approved in the budget and managing oil production efficiently and in accordance with international agreements with OPEC regarding the issue of controlling production quotas.
2- There is high discipline in Maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in tax and customs assessment, estimation, and collection.
3- Striving to impose discipline on operational expenditures and keeping spending on them within acceptable minimum levels.
4- Ensuring to raise the efficiency of investment spending and operating all approved projects. This is to ensure a high growth rate in the gross domestic product, at a rate more than twice the population growth rate, by launching the movement of new projects without delay or stop.
Saleh noted that “the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when needed, through internal borrowing and within limits that ultimately do not exceed the accepted international standard percentage for financing the deficit, which amounts to 3%.” “of the country’s total gross domestic product or slightly exceeding it.”
He pointed out "not to forget that the efficiency of annual spending in the operational and investment aspects is an important issue in determining the total annual public spending as planned." LINK
Iraq Is Turning To Digital Banks.. What Does It Offer To The Banking Sector?
Economy News – Baghdad The Iraqi banking system may soon receive banks of another type called (digital banks). What are these banks and will the citizen, the banking system, and the Iraqi economy benefit from them? Files that the beneficiary of the banking sector services in Iraq is trying to ask.
Financial expert Ziad Al-Hashimi says, “Online banks, also known as digital banks or neo-banks, are banking financial institutions that operate completely and exclusively over the Internet, and unlike traditional banks, where digital banks usually do not have physical branches.” In cities, they rely on providing their services on the website and mobile phone applications, and the banking services that citizens, merchants, and institutions need can be provided through phone applications.”
He continues, “The most important advantages of digital banks are the ease of opening an account, accessing and managing the balance, lower fees and costs, and having diverse and distinct services (such as budget applications, spending plans, and flexible integration) and other advantages. Because of these advantages, digital banks have begun to spread in many countries in Europe.” And the Americas and Asia, and among these banks - Chase bank - Monzo - Revolut - Starling - Tide and other digital banks.”
Al-Hashemi explains, “The issue of the success and expansion of this type of bank is linked to the state of the economic environment and the nature of society, as these banks often rely on non-cash electronic operations that are active in an advanced banking system, and a society that tends to use cards instead of cash in its transactions.”
The financial expert calls on the Central Bank of Iraq to “wait a little in granting licenses to digital banks, evaluate all these risks and challenges, and search for new timings to launch this type of banks. They must be aware of the availability of favorable conditions and the presence of high chances of success, instead of haste and adventure, as this is a recipe.” "Ready to fail."
The establishment of any digital bank, inside Iraq, requires that about 30% of its shares belong to a traditional bank, and the services should be published via the Internet and mobile phone applications, and there should not be any branch, but only the general administration, and all services via the Internet, such as issuing a bank card and financial transfers. Deposits, loans, etc.
Iraq owns more than 70 banks, many of which were subjected to US sanctions, while the financial inclusion rate reaches a low level due to weak confidence between the banking sector and citizens as a result of the bankruptcy of some of them.
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, had previously confirmed, on the sidelines of a celebration organized by the bank, that the steps achieved in financial inclusion that were accomplished today are accelerating and can close the gap that occurred during the past years as a result of the circ*mstances that Iraq went through.
Al-Alaq stated that the bank has ongoing meetings with the Iraqi government to expand the customer base in electronic payment methods and enhance financial inclusion, “as we see a great response from various state institutions in the context of expanding the financial and banking culture in Iraq.”
Al-Alaq said, “The factors that lead to the success and expansion of the role of financial inclusion are the citizen’s confidence in the institutions and tools available to him, as well as his vision of his interest in using them.”
He continued, "The Central Bank has become at the forefront of global central banks by using various financial technologies that provide speed and accuracy," revealing at the same time that "the bank has received large numbers of applications to establish digital banks. The concerned departments are working on the possibility of granting it a license to carry out its work in accordance with the controls and instructions issued." By the bank.
For his part, financial expert Mahmoud Dagher believes in a press interview followed by Al-Iqtisad News that “digital banks are natural banks, just like traditional banks, but they operate through applications and do not have face-to-face interactions.”
According to Dagher, digital banks can perform their work as an independent digital bank or even as classic banks, pointing out that the young generation has now become knowledgeable in using financial technology for withdrawal, transfer, etc.
Today, Iraq has one digital bank, while many applications are waiting for the green light from the Central Bank of Iraq to grant them a license to carry out their work in accordance with the controls and instructions issued by it.
According to the Central Bank of Iraq, licensing requirements to practice digital banking activity include that digital bank licenses in Iraq do not exceed (10%) of the total licensed banks, in addition to the presence of an economic feasibility study that includes business plans, strategies, and financial indicators for 4 years, including the technical aspect and services. scheduled to be launched.
It is noteworthy that these digital banks are subject to all laws, regulations and instructions issued by the Central Bank, including the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015.
170 views Added 05/27/2024 - https://economy-news.net/content.php?id=43770
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
Provoking Thoughts and Points to Ponder on Money
Another good thing about being poor is that when you are seventy your children will not have you declared legally insane in order to gain control of your estate.-Woody Allen
Money makes the man.-Aristodemus
fool and his money are soon parted.-George Buchanan
Penny wise, pound foolish.-Henry Burton
Wine maketh merry: but money answereth all things.-Bible
If you would know the value of money, go and try to borrow some.-Benjamin Franklin
http://www.famousquotesandauthors.com/topics/money_quotes.html
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Chats and Rumors, Video, Vn Dong DINARRECAPS8 Chats and Rumors, Video, Vn Dong DINARRECAPS8
Iraqi Dinar Today Video Update Late Sunday Evening 5-26-24
CBI sells +$281 million in forex on Sunday – 2:20
JP Morgan, Chase Bank Announce IQD New Exchange Rate – 3:13
Wait t is Over Iraqi dinar Officials Approved – 4:26
Iraqi dinar Processing Happening - 3:22
Iraqi Dinar Today Video Update Late Sunday Evening 5-26-24
CBI sells +$281 million in forex on Sunday – 2:20
JP Morgan, Chase Bank Announce IQD New Exchange Rate – 3:13
Wait t is Over Iraqi dinar Officials Approved – 4:26
Iraqi dinar Processing Happening - 3:22
CBI sells +$281 million in forex on Sunday – 2:20
JP Morgan, Chase Bank Announce IQD New Exchange Rate – 3:13
Wait t is Over Iraqi dinar Officials Approved – 4:26
Iraqi dinar Processing Happening – 3:22
Read More
Chats and Rumors, Economics Dinar Recaps 20 Chats and Rumors, Economics Dinar Recaps 20
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 27 May 2024
CompiledMon. 27 May 2024 12:01 am ESTby Judy Byington
Global Currency Reset: (RUMORS)
Sun. 26 May 2024 Wolverine Live Chat: “It is Monday morning 27 May 2024. I hope you are doing alright. As I said before T1 and T2 are already finished, from what I was told. I do not know anyone in those groups. It is a process which should be finished by June 15th.
We should get good news this week. I have had confirmation that Brazil will start this week from the Central Bank of Brazil. I am hoping that by tomorrow, being Monday, that the confirmation comes to reality, and if that is true then, Reno is not that far away.
There are people saying it all starts this week. We are that close to get this done. All is quiet, and I try to find info for you, and it has not been easy.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 27 May 2024
CompiledMon. 27 May 2024 12:01 am ESTby Judy Byington
Global Currency Reset: (RUMORS)
Sun. 26 May 2024 Wolverine Live Chat: “It is Monday morning 27 May 2024. I hope you are doing alright. As I said before T1 and T2 are already finished, from what I was told. I do not know anyone in those groups. It is a process which should be finished by June 15th.
We should get good news this week. I have had confirmation that Brazil will start this week from the Central Bank of Brazil. I am hoping that by tomorrow, being Monday, that the confirmation comes to reality, and if that is true then, Reno is not that far away.
There are people saying it all starts this week. We are that close to get this done. All is quiet, and I try to find info for you, and it has not been easy.
Wolverine cont…..I do want to say, it really upsets me, that most of the gurus are out there to make money. There are good ones trying to help people get bonds and currencies so they will have great opportunities.
One must be careful from where you obtain your currencies and bonds to keep safe from unscrupulous people. Be careful scammers. That is all I have for you. Let’s see what the week brings. Take care everyone. Wolverine
Sun. 26 May 2024 NC Chick: A banker from Brazil did a talk last week. He said Whales would be finished in a day or so and notifications have gone out to the Bond holders. He was amazed that T4B hadn’t been notified. Actually, it is the same person that tells Wolverine.
Sat. 25 May 2024 MarkZ: Two Military Contacts say before July 4, but likely way sooner than that.”…“There is high expectation from the individual Bond Holders that they will go over this weekend.”
On Fri. 24 May TNT sent out a cryptic message that the 800#s were coming out for Tier4b (Us, the Internet Group) to set redemption appointments.
A Contact at a Redemption Center said Tier4b (Us, the Internet Group) would get emails to set appointments over the weekend.
Thurs. 23 May 2024 Bruce felt it was likely that we won’t get the 800 numbers to make appointments until Tues. 28 May, and could begin exchanging on Wed. 29 May.
Sat. 25 May 2024 Wolverine: “We are defiantly close, guys. …Thurs. 6 June is D Day.
Fri. 24 May Wolverine: “From my Brazilian contact: We are waiting for an official order to release funds and payment order. This will happen at any time, please wait…as of today we have nothing official. Things are moving guys. The greatest transfer of wealth has started T1 and T2 have been completed and a very positive Mark Z message today! He’s saying he’s hearing Individual Bond Holders expecting to receive big Payments now! First time I’ve heard him talking about Individuals rather than Groups/ Platforms.”
Thurs. 23 May 2024 Wolverine Here’s a helpful update: My friend has given me permission to share information with you.Remember, she has a relative who is an MP from a Middle Eastern county and he sits on a committee that oversees the timing of the event.
Anonymous Friend: Ginger, I was just informed (by a relative in the Middle East; Ginger is hiding the location for security) that there are 7,000 payers in Tier 3 who are being paid before Tier 4B distribution goes live. This will happen over the next 10 to 14 days.
However, in the meantime the public will be prepared for many things, such as: gold-backed USN, debt forgiveness, increases in SSI, and other benefits.
Also keep in mind that the absolute back wall is the 4th of July, so a lot has to happen quickly for us to reach our day of redemption.
Tues. 21 May 2024 Unknown Source: “Banks in the USA will close on the 24th and until May 27th (Monday) they will be offline, without credit cards and without access to 24-hour banking. It will be the beginning of AES – EMERGENCY ALERT SYSTEM and on Tues. 28 May 2024, some banks and companies will no longer open.
~~~~~~~~~~
Thurs. 23 May 2024 Happy Welsh Guy:
Tony is quite correct the RV will happen soon, but not yet. This is what is really happening. There is a carefully, orchestrated plan in effect, that is being meticulously monitored.
Tier # 1 and Tier # 2 is currently being financially hydrated.
When this is completed to the satisfaction of the Alliance then and only then willTier # 3be financially hydrated.
When Tier 3 is completed to the satisfaction of the Alliance then and only then willTier # 4 (US) the internet groupbe financially hydrated.
Everything is currently“On Track”and moving to expectation.
If everything continues to expectation, thenTier # 4should be financially on or aboutJUNE 15th with a back wall of July 4th.
It is“NOT”going to happentoday, tomorrow or this month. However, Tony is right. It will be our timesoon. Nothing will stop this except for a 911 type event.
My source actually sits on a special committee formatted for the very specific purpose of the timing of the revaluation to take place.
June 15th is not that far away so remain patient and be in expectation
Fri. 24 May 2024 Goldilocks: “A Bank just told us they are going to move onto the QFS. First action date: June 21, 2024 before 3:00 p.m. MT. Second action date: June 24, 2024 for the remaining steps. It is important to note that this is just one bank’s timeline, but I can’t help from notice that this one is before the June 30th, 2024 laws that are taking effect on Crypto regulations and Stable Coins at the end of the month.”
Sat. 25 May 2024: BOOM!!! Major Bank Announces Shift to Quantum Financial System Ahead of Crypto Regulation Overhaul (Goldilocks) – American Media Group (amg-news.com)
Read full post here: https://dinarchronicles.com/2024/05/27/restored-republic-via-a-gcr-update-as-of-may-27-2024/
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Samir Al-Nusairi, the Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy...CBI announces it has completed the first phase of it by...building solid international banking relationships with international banks and correspondent banks. Get ready….
PompeyPeter The contracts are done in the country they're done with. If contracts are being done with Italy, France, Germany, they're in Euros. Great Britain, they're in pounds. U.S. obviously dollars...When the rate changes that's when the Iqd rate to the equivalence of the local currency becomes relevant. In other words, they're not going to be paid at 1310.
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WHY China Is Dumping Billions In Treasuries, Interest Rates SPIKE Imminent
Atlantis Report: 5-26-2024
In the big game of money and world politics, there's a huge change that's shaking up the financial world. China, a big player in the economy and one of the top holders of US debt has made a surprising move.
They sold a massive amount of US Treasury bonds in the first quarter of this year. China's reasons are pretty complicated, but it has a serious impact.
China's recent move to dump billions in treasuries has sent shockwaves through the financial world, prompting questions about the reasons behind such a significant shift.
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