"Tidbits From TNT" Tuesday Morning 12-1-2020
TNT:
Cutebwoy: An economist calls for deleting the three zeros from the dinar to strengthen the local currency
30 November 2020 | 1:19 PM The Baghdad Post
Economic expert Raad Twig called , the central bank to delete the three zeros from the dinar to strengthen the local currency.
Twig said: It is known that the monetary mass in circulation is about 60 trillion dinars, which is not available with the Central Bank of Iraq, banks and the public, and it is a large monetary block compared to the economic transactions of the Iraqi economy and that a large proportion of this block suffers from compactness and therefore this does not help the Central Bank of Iraq in drawing a policy Effective cash calling on the central bank to delete three zeros or gradual deletion of zeros to make the value of the dinar appear at a higher value and that the processes of evaluation and monetary balance will be formed quickly in the market economy. ”
He added: The monetary mass can become approximately 15 to 25 trillion dinars and the value of the new dinar converges to the value of the dollar, which facilitates the process of calculation and allows small and new denominations of cash to appear in the money market.
An economist calls for deleting the three zeros from the dinar to strengthen the local currency
Newmoney23: Wow!!!! Wow!!! Wow!!! It really is in writing for all to see...can’t stop re-reading this.
RealPrazwe18: This is good news!! RV here we come‼
Tishwash: The Board of Directors of the Center for Banking Studies at the Central Bank holds its first meeting for the year 2020
The Board of Directors of the Center for Banking Studies at the Central Bank held its first meeting for the year 2020, and the meeting was chaired by Dr. Munther Al-Sheikhly, Deputy Governor of the Central Bank, with the participation of all members.
The council discussed the topics included in its agenda, including the training program for the next year, which was prepared on the basis of the training gap in cooperation with the departments of the Central Bank, and the Council discussed the most prominent achievements that the center has achieved during this year despite the challenges it faced due to the Corona pandemic.
The members of the Board approved the proposals submitted by the Center’s management, especially with regard to amending the Center’s Law No. 36 of 1999 in accordance with the developments in the training environment and keeping pace with international developments in this field.
The Central Bank of Iraq
December 1, 2020
information Office link
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Tishwash: Warning against "floating currency" to raise the price of the dollar against the Iraqi dinar
The economist Rasim al-Akidi said that the floating of the dollar, or what is known as the liberalization of the exchange rate, takes place through two methods, the first is pure or free, and the second is the controlled or controlled method, and in both cases the price of the dollar will rise against the Iraqi dinar and will lead to the withdrawal of a large amount of the monetary mass in Markets.
Al-Akidi added that the withdrawal of a large cash block corresponds to 4 drawbacks at the same time, and the affected population will be large segments, including the increase in prices in the markets in addition to the factories ’reluctance to produce because the value of profits will decrease in front of the costs in addition to the absorption of per capita income and the increase in rental prices. Other damages.
According to Al-Aqidi, Iraq needs an economic rescue plan that starts from maximizing non-oil revenues, which are many, and keeping the influential parties away from them, because a large part of the financial resources does not go to the state treasury, and this is part of the causes of the current financial crisis in the country.
Economists ’opinions differed on the“ floating of the dinar ”in front of the dollar exchange to face the deficit crisis in the financial budget.
One party believes that the procedure will serve the Iraqi economy in the medium term by activating the industrial and agricultural sectors, but another party believes that it will eliminate the poor and middle classes.
The Central Bank of Iraq rejected the idea of "floating the dinar" during the next stage to increase government revenues and be able to pay employees' salaries during the coming days, citing its fear of increasing prices and harming the vulnerable classes.
The estimated budget for 2020 suffers from a large deficit of 50 trillion dinars. Observers expected the deficit to rise with the oil market losing about 50% of its prices. link
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Tishwash: Barzani: We fulfilled all our obligations to reach a constitutional agreement with Baghdad
The President of the Kurdistan Regional Government, Masrour Barzani, today, Tuesday, received the British Minister of State for the Middle East and North Africa James Cleverley, the British Minister of the Armed Forces James Hebe and the British Ambassador to Iraq Stephen Hickey.
The media office of the president of the regional government said in a statement, Al-Furat News received a copy of it, that “in the meeting, ways to strengthen relations between the Kurdistan region and Britain were discussed.”
The British delegation indicated, according to the statement, that “the British view with great respect and appreciation the sacrifices of the Peshmerga forces and their response to terrorism, and the delegation expressed the UK’s readiness to enhance the prospects for cooperation with the region in all fields, especially in the commercial field and increase investment in the Kurdistan region.”
The Prime Minister thanked Britain and valued its role in helping the Kurdistan region. He also shed light on the relations between the Kurdistan region and the federal government. link
Harambe: CNBC Video: US dollar to weaken 6-7% against G10 and EM currencies: StanChart
(12/1/20)
CNBC Video: US dollar to weaken 6-7% against G10 and EM currencies: StanChart (12/1/20)
Please follow link below to view 1min 45sec video.
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Harambe: Bloomberg: Zimbabwe $1.25 Billion Plan Sees Cannabis as Biggest Cash Crop
(12/1/20)
Zimbabwe sees export earnings from cannabis outstripping those of tobacco by almost three times after last year legalizing the cultivation of the plant for medicinal use.
The government has issued 44 licenses since September when it announced rules for growing cannabis, and sales are forecast to reach $1.25 billion in 2021, Treasury spokesman Clive Mphambela said by phone Monday. Thirty producers “are ready and some were doing test production,” Mphambela said. He declined to comment on stocks of cannabis available for export.
Tobacco is the southern African nation’s biggest agricultural export and earned $444 million from the 2020 marketing season that closed in August, according to the Tobacco Industry and Marketing Board.
John Robertson, an independent economist based in Harare, said the projections were ambitious. “It’s a massive over-estimate and ignores that cannabis is grown in many markets outside of Zimbabwe,” he said by phone.
“It’s sold in grams, not in kilograms or tons, so there will be disappointment,” Robertson said. “The only enthusiasm will be from producers, but massive supply globally will depress prices.”
South Africa, Malawi, Zambia and Lesotho have also legalized medicinal cannabis.
In his budget statement on Nov. 26, Finance Minister Mthuli Ncube said cannabis production for medicinal purposes has “immense potential” to generate export receipts and tax revenues. A so-called cannabis levy will be introduced next year, in line with export values, Ncube said. Taxes of as much as 20% will be applied on oils, bulk extracts and dried cannabis flowers.
Growers, most of whom are locals with international partners, can produce $40 million to $46 million worth of cannabis a month, underpinning Treasury’s “very conservative” estimates, Mphambela said.
Mot: Clever She Is !! LOL!!! ~~~~~
Husband: If anyone else whines, they have the right to go to bed!
Me: Ugh…my pants are too tight, my feet are cold, everyone is being too loud!!!
Kids: Ha! - mom has to go to bed!!!
Me: Goodnight, suckers!
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Mot: ~~~~ Cool Christmas Idea ~~~~
