More News, Rumors and Opinions Monday Afternoon 2-27-2023
KTFA:
Clare: Al-Sudani and the Director of Arab Monetary discuss Iraq's involvement in the international financial system
2/26/2023
Prime Minister Muhammad Shia Al-Sudani received today, Sunday, the Director General of the Arab Monetary Fund, Abdul Rahman Al-Hamidi
The Prime Minister's Office said in a statement, a copy of which the Euphrates News Agency received, that "during the meeting, they discussed mechanisms for joint cooperation in the field of supporting financial and banking policies and building human capacities, and discussing Iraq's steps in engaging with the international financial system, and the most prominent measures and reforms that the government is taking in this field."
The banking and financial sector, thus contributing to the promotion of economic development in Iraq. LINK
Clare: Governor of the Central Bank: We seek to bring about digital technologies in the Iraqi banking sector
2/27/2023
The Governor of the Central Bank, Ali Al-Alaq, affirmed today, Monday, the endeavor to make a quantum leap in the field of financial technology.
The bank's media said in a statement received by {Euphrates News} that "the Governor of the Central Bank, Ali Mohsen Ismail, received, today, the regional head of the global "Visa" company, Andrew Tory and his accompanying delegation."
He added, "The support provided by Visa to regulate the market and increase the acceptance of electronic collection was discussed, in support of the government's directions and the decisions it took in activating electronic payment through the use of the technology provided by the company, as well as improving the regulations and instructions for digital financial services."
Al-Alaq stressed that "the Central Bank of Iraq is supportive in its steps to expand the use of the latest digital technologies in the banking sector and enhance financial inclusion in Iraq," noting that "the Central Bank of Iraq seeks to make a quantum leap in the field of financial technology in the Iraqi banking sector by keeping pace with the latest global technologies." LINK
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Clare: The Governor of the Central Bank of Iraq meets the Director General of the Arab Monetary Fund
February 26, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received the Director General of the Arab Monetary Fund, Dr. Abdul Rahman Al-Hamidi.
His Excellency the Governor said in his speech: The Arab Monetary Fund has provided unremitting efforts in support, advice and training to the Central Bank of Iraq and its cadres, in implementing field surveys related to indicators of financial inclusion in Iraq.
For his part, Dr. Al-Hamidi praised the role of the Central Bank of Iraq in consolidating the work of the fund, and supporting its policies and programs, while expressing the fund's readiness to provide technical support and capacity-building in areas related to the bank's work, praising the role of the Central Bank of Iraq in launching the payments platform (Bunu) in the field of Coverage of payments for intra-trade using various types of currencies.
It is noteworthy that the Central Bank of Iraq is an active member of the Arab Monetary Fund, and is considered one of the largest shareholders among central banks and financial institutions, and invests part of its foreign reserves with it.
Central Bank of Iraq
Media Office
26/2/2023
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Courtesy of Dinar Guru
Pimpy There's a difference in RV and RI...RV is when you re-value a currency. We saw a revalue when the Iraqi dinar went from 1190 dinars to 1450. That is an RV. An RI is when you had an exchange rate for whatever reason they changed it and then once it was done they just reinstated it. That's what happened to Kuwait.
Militia Man The government returned the budget to the finance ministry in order for them to adapt it to a new exchange rate. Our view is the 1310 is something in the past. We believe there's going to be a different change coming...I hope you guys feel like I do. You should be excited...
IMPORTANT UPDATES! Market Risk Continues To Rise As Economy Craters FASTER.
Greg Mannarino: 2-27-2023
Hotter Inflation Chills Stock Market - Ep 874
Peter Schiff: 2-27-2023
· The inflation genie is impossible to put back in the bottle.
· CPI and PPI are lagging for a number of reasons.
· Beaten down stocks of 2022 enjoyed a short-lived dead cat bounce in 2023.
· Consumer spending in January surged after a record decline in tax revenue.
· The PCE is the most inaccurate way to measure inflation and it’s no coincidence that it’s also the Fed’s favorite way.
· The progress the Fed claimed to have made against inflation is already lost.
· The inverted yield curve is now even more inverted.