Economist's "News and Views" Sunday 3-3-2024
Russia Protects Oil Revenues, Putin Peace Deal Revealed, G7 BANS Russian Diamonds
Sean foo: 3-3-2024
To address the G7 price caps, Russia has struck back by imposing a price floor on their oil exports. Here's why this is significant, especially in protecting government revenues.
Meanwhile, the Wall Street Journal has revealed Putin's 2022 peace deal in Istanbul and the G7 ban on Russian diamonds is now official.
Here's what you must know.
Russia Protects Oil Revenues, Putin Peace Deal Revealed, G7 BANS Russian Diamonds
Sean foo: 3-3-2024
To address the G7 price caps, Russia has struck back by imposing a price floor on their oil exports. Here's why this is significant, especially in protecting government revenues.
Meanwhile, the Wall Street Journal has revealed Putin's 2022 peace deal in Istanbul and the G7 ban on Russian diamonds is now official.
Here's what you must know.
Timestamps & Chapters:
0:00 Putin Peace Terms Revealed
3:25 Russian Economy UPDATE
6:30 Russia Sets Oil Price Floor
9:25 G7 Diamond Ban
11:55 Diamond Inflation Coming
BE PREPARED: $1.13 TRILLION in Consumer Credit Card Debt Hits Record High as Delinquencies SURGE
Lena Petrova: 3-3-2024
The Fed's Plan For 2024 Is Not What You Think
Atlantis Report: 3-3-2024
As inflationary pressures persist and economic indicators fluctuate, the Fed's anticipated interest rate cuts have encountered unexpected delays, prompting a reassessment of monetary policy trajectories. In March of 2020, the Federal Reserve embarked on a strategy of quantitative easing, bolstering its balance sheet by purchasing significant amounts of Treasury debt and mortgage-linked securities.
This approach, aimed at stimulating the economy, saw the Fed gradually reduce its balance sheet through quantitative tightening starting in June 2022, where it refrained from reinvesting all proceeds from maturing securities.
By early January 2024, the Fed had scaled back its assets from a peak of almost 9 trillion dollars to 7.7 trillion dollars. The era of ultra-low interest rates, which consumers had become accustomed to since the 2008 financial crisis, has likely drawn to a close.
More News, Rumors and Opinions Sunday Afternoon 3-3-2024
KTFA:
Clare: The Interbank Market: What It Is and How It Works
By Adam Hayes
Updated December 23, 2023
SNIPPET OF ARTICLE:
What Is the Interbank Market?
The interbank market is a global network used by financial institutions to trade currencies and other currency derivatives directly between themselves.
Some interbank trading is done by banks on behalf of large customers, but most interbank trading is proprietary. It takes place on behalf of the banks' own accounts
KTFA:
Clare: The Interbank Market: What It Is and How It Works
By Adam Hayes
Updated December 23, 2023
SNIPPET OF ARTICLE:
What Is the Interbank Market?
The interbank market is a global network used by financial institutions to trade currencies and other currency derivatives directly between themselves.
Some interbank trading is done by banks on behalf of large customers, but most interbank trading is proprietary. It takes place on behalf of the banks' own accounts
Banks around the world use the interbank market to manage their own exchange rate and interest rate risk as well as to take speculative positions based on research. The interbank market is a subset of the interdealer market, an over-the-counter (OTC) venue where financial institutions can trade a variety of asset classes among one another and on behalf of their clients. This is often facilitated by interdealer brokers (IDBs).
KEY TAKEAWAYS
The interbank market is a global network used by financial institutions to trade currencies and other currency derivatives directly between themselves.
Banks use the interbank market to manage their own exchange rate and interest rate risk.
They can also use the market to take speculative positions based on research.
Most transactions within the interbank network are for a short duration, anywhere from overnight to six months.
Understanding the Interbank Market
The interbank market for foreign exchange (forex) serves commercial turnover of currency investments as well as a large amount of speculative, short-term currency trading. The typical maturity term for transactions in the interbank market is overnight or six months.
The forex interdealer market is characterized by large transaction sizes and tight bid-ask spreads. Currency transactions in the interbank market can be either speculative (initiated with the sole intention of profiting from a currency move) or for the purposes of hedging currency exposure.
It may also be proprietary but it's customer-driven to a lesser extent by an institution's corporate clients. These might include exporters and importers.
https://www.investopedia.com/t.....market.asp
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Clare: Iraqi Customs begins implementing the automation system "ASYCUDA" in the port of Umm Qasr
3/3/2024
On Sunday, Iraqi Customs began implementing the Customs Automation and Modernization System (ASYCUDA) in the Grand Welcome Square in Umm Qasr Port, south of the country.
She said in a statement, received by Shafaq News Agency, that the Minister of Finance gave the signal to implement the program during a ceremony held in the Grand Welcome Square, attended by United Nations representative Nizar Amari, and a number of officials and heads of departments operating in the port.
The statement quoted the Minister of Finance in her speech as saying that implementing this system in the port of Umm Qasr comes within the strategic plan adopted by the government in the field of using modern techniques and technology, noting that implementing the automation system will achieve a set of goals, the most important of which are financial discipline, reducing errors and achieving efficiency. Effectiveness in using government resources, in addition to providing accurate data and information.
The Minister confirmed that this step is one of the steps that the government put in its curriculum and was adopted by the General Authority of Customs to apply technology and keep pace with the countries of the world.
For his part, the Director General of Customs, Counselor Hassan Al-Ugaili, said in his speech during the ceremony that the authority is committed to its duties, which revolve around three main axes, the first of which is facilitating legitimate trade and the axis of protection by implementing government decisions in the field of restriction and prevention, which provide protection for the consumer and society from the entry of prohibited materials, in addition to The collection and revenue axis, which will be controlled through the application of the customs modernization and automation system (ASYCUDA).
The Authority stated that it had previously implemented this program at Baghdad International Airport/Air Cargo Customs, stressing that steps are being accelerated to implement it in all regions, customs centers and the rest of its departments.
She added that the system of automating and modernizing customs through the application of the ASYCUDA program, which is in effect in more than (100) countries, which came after the signing of a partnership contract by the Ministry of Finance with the United Nations Conference on Trade and Development (UNCTAD) in 2021, where an international team was sent.
A specialist from UNCTAD supervises the implementation of the program in cooperation with a work team from the Iraqi customs. Preparing the requirements for its implementation began, and the employees were trained to work on its management and gain experience from the international team, as well as introducing them to training workshops inside and outside Iraq. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 IMO the Forex is live. It is trading the Iraqi dinar live. I don't believe I've ever seen it trading live against the dollar. It's being traded in real time. That's impressive. It started today or maybe yesterday ...That's why I say something is going on...It's trading at $2.70 live. I'm not making this up. You can go look this up yourself. Let's see if these numbers stay the same on Sunday...when they start trading live...Isn't this suspicious? Isn't this a precursor? Isn't this a sign? Isn't this a logical step for a currency that is about to go through a movement of some type?
Militia Man There's a quietness from the WTO when it comes to Iraq...Why did they do that? We can speculate on that. The truth be told is Iraq...would have more impact on the economic situation in the global financial system...It's a big thing, a very big thing that the WTO lifted up two of the smallest lower developed countries in the world but they didn't talk about one that was going to fix the financial system in the world. They didn't talk about Iraq...Why? The shocks that the World Bank talked about. You can't go and shock the whole world...and not have everybody ready because that's going to cause chaos...
MARKETS A LOOK AHEAD: Systemic MELTDOWN... And Its NOT The STOCK MARKET!
Greg Mannarino: 3-3-2024
"Tidbits From TNT" Sunday 3-3-2024
TNT:
Tishwash: Parliament collects 150 signatures to pass the blocked laws
Although Parliament collected nearly 150 parliamentary signatures to put the stalled laws on the shelves for years, these efforts seem to clash with political consensus.
Member of the Parliamentary Integrity Committee, Hamid Al-Shablawi, told “Al-Sabah”: “It is one of the most important legislations and laws that serve the country and segments of society and the return of state funds, in addition to those that limit corruption and enhance the role of supervisory authorities, including the state funds recovery law,” indicating that “ The Financial Supervision Law is an addition to these laws, as it allows the Financial Supervision Authority a broader scope of work.”
TNT:
Tishwash: Parliament collects 150 signatures to pass the blocked laws
Although Parliament collected nearly 150 parliamentary signatures to put the stalled laws on the shelves for years, these efforts seem to clash with political consensus.
Member of the Parliamentary Integrity Committee, Hamid Al-Shablawi, told “Al-Sabah”: “It is one of the most important legislations and laws that serve the country and segments of society and the return of state funds, in addition to those that limit corruption and enhance the role of supervisory authorities, including the state funds recovery law,” indicating that “ The Financial Supervision Law is an addition to these laws, as it allows the Financial Supervision Authority a broader scope of work.”
Al-Shiblawi added, “The Council Presidency did not include important laws on the agenda, despite collecting signatures of up to 150,” expressing his hope that “the committee will take an active role in these legislations and within a broader course of oversight work.”
He explained, "Despite this, the hostilities continue at the level of ministers and general directors, and many large corruption files have been opened in the Integrity Committee pertaining to the Ministries of Electricity and Transport, the National Investment Authority, and files pertaining to the Ministries of Oil and Reconstruction and others." link
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The International Monetary Fund praises the steps of the Central Bank of Iraq to support the economy
Experts from the International Monetary Fund mission praised the measures taken by the Central Bank of Iraq, which contributed to maintaining the stability of the Iraqi economy and working to raise its capabilities.
The mission said in the final statement on the sidelines of the meetings held in the Jordanian capital, Amman, that “growth in the non-oil sector returned strongly in 2023, with inflation receding. Growth in real non-oil GDP is estimated at 6 percent in 2023.
After declining in 2022, overall inflation declined from the high level it reached at 7.5 percent at the beginning of 2023, to 4 percent by the end of the same year, reflecting the decline in food and energy prices at the international level.”
The mission attributed these developments to “the return of trade financing operations to their normal course and the stability of the foreign exchange market.
After some interruptions occurred following the implementation of the new anti-money laundering and counter-terrorist financing controls on cross-border payments in November 2022, improved compliance with the new system, The Central Bank of Iraq’s initiatives to reduce transaction processing times have led to a recovery in trade financing in the second half of 2023. This has ensured that the private sector can obtain foreign currency at official rates for import and travel purposes.”
The mission welcomed "the initial steps taken towards establishing the Treasury Single Account (TSA), which is considered a critical tool for improving cash liquidity management."
The mission praised the efforts made by the Central Bank of Iraq aimed at getting rid of excess liquidity. The Central Bank increased the interest rate on monetary policy tools and raised mandatory reserve requirements, and also began issuing treasury bills with a maturity of 14 days last summer.
The Fund called for Supporting existing efforts by the Central Bank by consolidating unused government deposits in the unified treasury account, refraining from pro-cyclical financial policy, reducing reliance on monetary financing, and improving public debt management, noting the continuation of efforts aimed at establishing an interbank market with support. "From the technical assistance provided by the International Monetary Fund.
The mission also welcomes the steps taken by the authorities to accelerate the pace of digitalization of the economy, reduce dependence on cash and enhance financial inclusion."
Central Bank of Iraq
Information Office
3 March 2024 link
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Tishwash: Washington is deceiving... Iraq is moving internationally to expel its forces, and America is stalling again
Efforts to remove American combat forces from Iraq collide with America's plan, through which it seeks to circumvent all meetings, statements and joint committees by imposing the agreement on a timetable extending for another five years, amid popular and political calls demanding the immediate exit of Washington's combat forces.
As for the Iraqi government, it is counting on international pressure through global meetings and forums, the most recent of which is the Turkish Antalya Forum, in which Iraq discussed the necessity of completely removing foreign forces from Iraqi territory during the coming period, after the number of violations and indirect occupation constituted by the presence of these forces.
*Procrastination and procrastination
Speaking about this file, the State of Law Coalition describes America's efforts to set a 5-year timetable for the file of removing its forces from the country as procrastination and procrastination, while stressing that negotiations are not useful with Washington's malicious policies.
Coalition member Ibrahim Al-Sakini said in an interview with the Maalouma Agency, “The diplomacy that Iraq pursued during the previous years led to the presence of thousands of American combat forces in the country,” noting that “talking about the exit of American forces Within five years is a joke on the chin.” .
He continues, “One of the escalatory steps to prove the seriousness of the negotiation is closing the American embassy or the military barracks located in Baghdad,” pointing out that “Washington is exercising various types of blackmail against Iraq through the dollar issue, in order to continue its combat forces in the country."
He added, "Washington is putting pressure on the country by seizing the money from the sale of oil in the Federal Bank in order to give up these national issues," noting that "America's effort to set a timetable extending to 5 years regarding the issue of removing American forces from the country is public procrastination and procrastination.”
*Negotiating committees
In addition, Member of Parliament Thaer al-Jubouri believes that forming joint committees with the United States of America will not achieve all goals, while he stressed that pressure through international meetings to remove American forces is important at this stage.
Al-Jubouri said in an interview with the Maalouma Agency, “The support of some internal forces for the presence of American combat forces inside Iraq has weakened the position of other political forces towards expelling the occupation,” noting that “Washington is working to weaken Iraq’s combat capabilities in order to show weak protection for the country.”
He continues, “The pretext of training and consultation is unrealistic compared to the large military presence inside Iraqi territory,” pointing out that “the scenario of negotiation and international pressure to remove Washington’s forces from the country requires greater and deeper efforts.”
Al-Jubouri continues his speech: “Boasting about diplomacy with the United States of America are points of procrastination that are focused on in order to continue its presence in the military bases,” adding that “pressure through international meetings to remove American forces is important at this stage.”
The American forces continue their field and military violations, in addition to controlling the Iraqi airspace and bombing security forces and civilians in a number of provinces, in addition to controlling armament contracts, and not allowing Iraq to develop the land, sea, and air military capabilities that it lacks as a result of American dominance over this file link
Mot: ..... I Try!! -- I Really Do!!! --- BUT~~~~
Mot: Make Good Choices
News, Rumors and Opinions Sunday AM 3-3-2024
KTFA:
Frank26: "SO IS THE WHOLE WORLD!!!"...............F26
Iraq is looking forward to joining the World Trade Organization
3/1/2024 Baghdad
Today, Friday, the Ministry of Commerce confirmed the government’s aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq’s accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files.
The ministry’s official spokesman, Muhammad Hanoun, told the official media and followed by “Al-Ghad Press” that“Iraq joined as an observer in the World Trade Organization from 2004, and until 2023. This accession facedmany problems and challenges, the most recent of which was the failureto pay dues to join the observer organization
KTFA:
Frank26: "SO IS THE WHOLE WORLD!!!"...............F26
Iraq is looking forward to joining the World Trade Organization
3/1/2024 Baghdad
Today, Friday, the Ministry of Commerce confirmed the government’s aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq’s accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files.
The ministry’s official spokesman, Muhammad Hanoun, told the official media and followed by “Al-Ghad Press” that“Iraq joined as an observer in the World Trade Organization from 2004, and until 2023. This accession facedmany problems and challenges, the most recent of which was the failureto pay dues to join the observer organization
But after... The announcement of the government program by Prime Minister Muhammad Shiaa Al-Sudani began work again on the possibility of Iraq joining this organization, as two sessions took place and a dialogue was held with the organization by the Iraqi negotiating team headed by the Minister of Commerce, Atheer Al-Ghurairi, which included all the relevant Iraqi ministries and bodies.
Hanoun added, “The World Trade Organization assigned the Saudi representative to the organization, Saqr Al-Muqbel, to manage the file of Iraq’s accession, and he came to Baghdad on an important visit and met with the Iraqi negotiating team, and many issues were addressed, the most important of which were the files of goods and services, as well as the legislation that the Iraqi economic reform team in the Prime Minister’s Office would carry out.” By addressing it within the frameworks and legislation within which the World Trade Organization operates.”
He continued, "Joining will achieve many things for Iraq, most notably that it will support the file of Iraqi goods and facilitate their entry into global markets, and secondly, the harmonization of Iraqi laws and regulations with international laws and regulations," pointing out that "Iraq has today become a major economic player on the world level and needs to harmonize Iraqi laws with international laws." .
He stressed, “Minister of Trade Atheer Al-Ghurairi attended the third session of the World Trade Organization, which was held in the Emirate of Dubai in the UAE, and met with the Assistant Director-General of the organization. We believe that the meeting will achieve progress in achieving the government’s aspirations regarding accession in an accelerated manner,” appreciating “the Saudi efforts in overcoming many special obstacles.” Iraq's accession to the World Trade Organization. LINK
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Frank26: "EXAMPLE OF THE CURRENCIES FOR THE BASKET"...........F26
The Iraqi Central Bank confirms to Shafaq News the provision of five foreign currencies as an alternative to the dollar for merchants
3/2/2024
The Central Bank of Iraq confirmed, on Saturday, that it has provided five alternative currencies to the dollar, for merchants to use in purchasing their goods from other countries using each country’s currency through the bank.
Deputy Governor of the Central Bank, Ammar Hamad, told Shafaq News Agency, “The Central Bank provided other foreign currencies to Iraqi merchants, which are (the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee).
He added, "These currencies have become available to merchants for the purpose of financing foreign trade. When a merchant imports goods from China, he can now pay the Iraqi dinar to the Iraqi bank, and through the bank, the amount will be paid to the Chinese company and factory in the Chinese currency."
Last week, the Central Bank of Iraq's total sales of hard currency in US dollars amounted to more than one billion dollars.
Shafaq News Agency correspondent stated that the Central Bank sold during the past week, and for a period of five days during which the auction was opened, one billion and 52 million and 796 thousand and 86 dollars, at a daily rate of 210 million and 559 million and 217 dollars, lower than what it recorded the previous week, when it amounted to one billion and 62. One million 587 thousand and 198 dollars. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Question 'Will 25000 [dinar note] still be worth the same if it's 1 to 1?' Yes. A 25000 Iraqi note at a rate of 1 to 1 is equal to $25,000.
Frank26 Question: "Will they make a formal announcement in Iraq just prior to letting the RI go?" No. There won't be any announcement. It's actually going to be snuck up on them. One day the Iraqi citizens will wake up and they'll get a text or ping or whatever and they'll be notified to get your butts into the banks and they will be given what will be given to them...
It’s Game Over: Proof That The Dollar Is Collapsing
Atlantis Report: 3-2-2024
The longstanding dominance of the U.S. dollar as the world's primary reserve currency is being challenged, signaling a potential collapse in its global stance.
THEY LIED: Major Gold Price Shift Incoming - Andrew Maguire Gold & Silver
Gold IRA Blueprint: 3-2-2024
Goldilocks' Comments and Global Economic News Saturday Evening 3-2-24
Goldilocks' Comments and Global Economic News Saturday Evening 3-2-24
Good Evening Dinar Recaps,
"Hong Kong is currently pursuing an expansion of the digital yuan’s application. It is also approaching the second phase of its own CBDC pilot program and completing consultations for stablecoin issuance."
Do you remember a couple of months ago when we spoke of several global stablecoins that were being tested inside a sandbox with Hong Kong?
They are telling us that Hong Kong is in process of moving past the consultation process and ready to move into the implementation phase. This is the phase of regulatory development inside Global use case scenarios.
The e-HKD digital version of the Hong Kong dollar completed its first pilot testing phase in October 2023. Now, Hong Kong is telling us that they are moving into the retail sector. This will include programmable payments, offline payments, and tokenized deposits. Coin Speaker
© Goldilocks
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Goldilocks' Comments and Global Economic News Saturday Evening 3-2-24
Good Evening Dinar Recaps,
"Hong Kong is currently pursuing an expansion of the digital yuan’s application. It is also approaching the second phase of its own CBDC pilot program and completing consultations for stablecoin issuance."
Do you remember a couple of months ago when we spoke of several global stablecoins that were being tested inside a sandbox with Hong Kong?
They are telling us that Hong Kong is in process of moving past the consultation process and ready to move into the implementation phase. This is the phase of regulatory development inside Global use case scenarios.
The e-HKD digital version of the Hong Kong dollar completed its first pilot testing phase in October 2023. Now, Hong Kong is telling us that they are moving into the retail sector. This will include programmable payments, offline payments, and tokenized deposits. Coin Speaker
© Goldilocks
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CBI Announcement:
Shafaq News / The Iraqi Central Bank (CBI) affirmed on Saturday that it has provided five alternative currencies to the dollar for traders to use in purchasing goods from abroad, using each country's currency through the bank.
CBI’s Deputy Governor Ammar Hamad told Shafaq News Agency that "CBI has made other foreign currencies available for Iraqi traders, including the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee."
He added that "these currencies are now available to traders, aiming to facilitate foreign trade. When a trader imports goods from China, for instance, they can pay in Iraqi dinars to the Iraqi bank, which will then settle the amount with the Chinese company or factory in Chinese currency." Shafaq
👆 Goldilocks pointed to this article
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The Bank for International Settlements has set forth recommendations for Central Banks on supervision and legislative practices of Global Stablecoins.
Below is a link to a chart that you can read about these regulation recommendations. These recommendations will flow into the Central Bank's guidance for banks.
Here, we have the beginning stages of a top-to-bottom mandate of guidelines that will formulate new rules, regulations, and laws to govern Stablecoins. BIS
© Goldilocks
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Federal Register Announcement:
There is a proposed rule by the CFTC to extend a period of comments before execution of a new rule on April 22nd, 2024.
Proposed Rule: "The Commodity Futures Trading Commission (CFTC or Commission) is proposing to amend its regulations to permit a foreign board of trade (FBOT) registered with the Commission to provide direct access to its electronic trading and order matching system to an identified member or other participant located in the United States and registered with the Commission as an introducing broker (IB) for submission of customer orders to the FBOT's trading system for execution."
Foreign Board of Trade means any board of trade. This includes any exchanges or markets outside the United States. Federal Register
© Goldilocks
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“Most countries have said that settlement in national currencies is what the BRICS countries need. We are already a big BRICS family of 10 countries. Most countries supported the fact that it is necessary to build new mechanisms of settlements and shared the experience of developing digital currencies by central banks, the experience of building platforms, and participation in trials of various platforms,” Chebeskov said. Modern Diplomacy
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Moscow: The Russian Finance Ministry together with the Bank of Russia and BRICS partners will prepare a number of initiatives to improve the international monetary and financial system, which will focus in particular on the issue of creating the BRICS Bridge multisided payment platform, according to files published following the first meeting of BRICS finance ministers and central banks governors in Sao Paulo, Brazil. Times of Oman
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USDV - A Revolutionary Stablecoin Transparently Pegged To Tokenized T- Bills | Coin Telegraph
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As the name suggests, a reverse ATM, or a cash-to-card kiosk, is the opposite of a conventional cash machine. A reverse ATM is a machine into which customers deposit cash and are given a debit card with the amount they have deposited credited onto the card. The customer can then use this card to complete a transaction through the merchant’s payment gateway—either in-store or online.
Currently, consumers will most commonly see cash-to-card kiosks in venues or establishments that want to encourage their customers to use cards instead of cash for transactions in their establishments. In return for cash, kiosks dispense stored-value cards that can be used to purchase goods or services in that establishment. Unicorn Group
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Fed Chair mum on foreign nations’ evacuation of Gold from US | FX Street
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Bretton Woods 3:
Join LIDS and the Harvard International Law Journal for our Spring 2024 conference entitled “Bretton Woods 3.0? The Future of International Economic Law.”
The event will occur throughout the day of March 2, 2024 at Austin Hall on the Harvard Law School Campus.
This year’s conference features four panels and one keynote speech focusing on the changing nature of multilateral cooperation in international economic law.
Each discussion will cover key topics related to this theme, drawing on experts from the legal industry, academia, and intergovernmental organizations. Harvard Edu
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Inflation Saga Far from Over: Services Inflation in Euro Area Just as Stubborn as in the US, Makes Very Disconcerting Moves | Wolf Street
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US states are using gold & silver as money - are YOU? | YouTube
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RIPPLE XRP🚨IMF SHOCKING NEW ESDR RULES⚠️🚨XRP IS WAKING UP | YouTube
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Thank you Dinar Recaps
More News, Rumors and Opinions Saturday Afternoon 3-2-2024
TNT:
Tishwash: The Iraqi Central Bank confirms to Shafaq News the provision of five foreign currencies as an alternative to the dollar for merchants
The Central Bank of Iraq confirmed, on Saturday, that it has provided five alternative currencies to the dollar, for merchants to use in purchasing their goods from other countries using each country’s currency through the bank.
Deputy Governor of the Central Bank, Ammar Hamad, told Shafaq News Agency, “The Central Bank provided other foreign currencies to Iraqi merchants, which are (the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee).
He added, "These currencies have become available to merchants for the purpose of financing foreign trade. When a merchant imports goods from China, he can now pay the Iraqi dinar to the Iraqi bank, and through the bank, the amount will be paid to the Chinese company and factory in the Chinese currency."
TNT:
Tishwash: The Iraqi Central Bank confirms to Shafaq News the provision of five foreign currencies as an alternative to the dollar for merchants
The Central Bank of Iraq confirmed, on Saturday, that it has provided five alternative currencies to the dollar, for merchants to use in purchasing their goods from other countries using each country’s currency through the bank.
Deputy Governor of the Central Bank, Ammar Hamad, told Shafaq News Agency, “The Central Bank provided other foreign currencies to Iraqi merchants, which are (the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee).
He added, "These currencies have become available to merchants for the purpose of financing foreign trade. When a merchant imports goods from China, he can now pay the Iraqi dinar to the Iraqi bank, and through the bank, the amount will be paid to the Chinese company and factory in the Chinese currency."
Last week, the Central Bank of Iraq's total sales of hard currency in US dollars amounted to more than one billion dollars.
Shafaq News Agency correspondent stated that the Central Bank sold during the past week, and for a period of five days during which the auction was opened, one billion and 52 million and 796 thousand and 86 dollars, at a daily rate of 210 million and 559 million and 217 dollars, lower than what it recorded the previous week, when it amounted to one billion and 62. One million 587 thousand and 198 dollars. link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The television is saying the government is putting mobile teams together to monitor - No prices gouging during Ramadan. That tells us plainly there will be no rate change during Ramadan IMO. FRANK: It can happen at any time...But... I don't see the reason for this to happen during Ramadan. It is a holy period. I see it happening before Ramadan.
Pimpy Here's the biggie everybody is celebrating. We're not there yet but very close. Article: "Iraq has completed requirements to join WTO: Minister" We have to wait till they get voted in. Yes they completed all the steps. Let's hope they keep their nose out of trouble and finally get accepted...Iraq is right there at the cusp, man, it really is. This is big news.
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KTFA:
Clare: The Central Bank announces an increase in the size of its reserves to more than 100 billion dollars.. What is the relationship with oil?
3/2/2024 Baghdad
The Central Bank attributed the increase in the Iraqi dollar reserve to the stability of oil export imports, which it said was reflected in financing foreign commercial activity and supporting the dinar.
Deputy Governor of the Bank, Imad Hamad Khalaf, said in press statements followed by Al-Iqtisad News that the Central Bank of Iraq has recorded an increase in its reserves, currently exceeding 100 billion dollars.
Khalaf added, "The stability of Iraqi oil export imports contributed to an increase in cash reserves and was also reflected in financing foreign commercial activity and supporting the dinar." LINK
Office Tower SOLD FOR $1 - US Commercial Property Collapses As Pension Fund Panic Sells
Sean Foo: 3-2-2024:
The US commercial real estate crisis just got worse with a pension fund selling its Manhattan building for one dollar! As interest rates continue to hammer on commercial property, more banks and funds are at huge financial risk. Here's why the CRE collapse isn't over and why banks might be taking a brutal hit soon.
Timestamps & Chapters:
0:00 Commercial Property FIRESALE
3:12 Pension Funds In Trouble
6:06 Collapse Not Over Yet
8:30 US Banks Big Risk
10:52 Big Banks Not Spared
"Dollar gains 1.76% since Tet in unusual early year movement:" Vietnam News
Dollar gains 1.76% since Tet in unusual early year movement
By Minh Son February 29, 2024 | 08:51 pm PT
The dollar has appreciated by 1.76% against the dong since after the Tet (Lunar New Year) holiday, an unusual occurrence since exchange rates are usually steady in the first quarter.
There is little exchange rate volatility at this time of the year thanks to ample supply of foreign exchange, according to SSI Securities’ SSI Research.
It is not as if this year FDI or remittances have declined, it added.
Dollar gains 1.76% since Tet in unusual early year movement
By Minh Son February 29, 2024 | 08:51 pm PT
The dollar has appreciated by 1.76% against the dong since after the Tet (Lunar New Year) holiday, an unusual occurrence since exchange rates are usually steady in the first quarter.
There is little exchange rate volatility at this time of the year thanks to ample supply of foreign exchange, according to SSI Securities’ SSI Research.
It is not as if this year FDI or remittances have declined, it added.
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The difference in interest rates between the U.S. and Vietnam and the monetary policy trends of the former have kept demand for the dollar high.
The greenback has surged especially since the Lunar New Year ended on Feb.15. In less than a week after the holidays it gained VND200 against the Vietnamese currency to trade at VND24,600.
A few days after that it is sold at banks for VND24,800 – 24,850. It has gained VND430, or 1.76%, for the year. On black market, the dollar has risen to above VND25,000.
Phu Hung Securities listed four reasons for the sharp appreciation.
Firstly, the market no longer expects the U.S. to lower interest rates in the first half, they could remain high until mid-year, and any subsequent reduction may not be too significant.
This will widen the interest rate gap between Vietnam and the U.S.
Secondly, imports have been steadily rising in recent months as businesses buy more raw materials.
In January imports rose to $31 billion, the highest since July 2022.
Thirdly, the demand for foreign exchange has increased as businesses repay foreign currency loans and repatriate profits.
Lastly, the hoarding of foreign currencies globally as the dollar strengthens relentlessly is also a factor.
Ngo Dang Khoa, head of markets and securities services at lender HSBC Vietnam, expected the dollar to weaken against the dong in the second half of this year, especially once Vietnam’s economy improves.
“The dollar-dong exchange rate will close the year at around VND24,400.”
Phu Hung Securities said the State Bank of Vietnam would keep the exchange rate in check and not let it spiral out of control.
The dong is more resilient than other currencies in the region, it added.
It has only declined by 1.5% against the dollar, while the Thai baht has lost 5%, the Malaysian ringgit, 3.8% and the South Korean won, 3.1%.
Source: VNExpress
"Tidbits From TNT" Saturday Morning 3-2-2024
TNT:
Tishwash: In Washington.. Barzani meets the “godfather” of Iraqi banking supervision
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met today, Friday (March 1, 2024), with the Under Secretary of the US Treasury for Terrorism and Financial Intelligence, Brian Nelson.
The media office of the Prime Minister of the Regional Government said in a statement, received by “Baghdad Today”, that “Barzani met with Nelson, and the two sides exchanged views on strengthening bilateral relations.”
He added, "The meeting discussed ways to support the reforms implemented by the Kurdistan Regional Government within the framework of the ninth ministerial formation, especially with regard to reforming the financial system and the banking sector, in addition to discussing the (My Account) project and the digital transformation of public services." ink
TNT:
Tishwash: In Washington.. Barzani meets the “godfather” of Iraqi banking supervision
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met today, Friday (March 1, 2024), with the Under Secretary of the US Treasury for Terrorism and Financial Intelligence, Brian Nelson.
The media office of the Prime Minister of the Regional Government said in a statement, received by “Baghdad Today”, that “Barzani met with Nelson, and the two sides exchanged views on strengthening bilateral relations.”
He added, "The meeting discussed ways to support the reforms implemented by the Kurdistan Regional Government within the framework of the ninth ministerial formation, especially with regard to reforming the financial system and the banking sector, in addition to discussing the (My Account) project and the digital transformation of public services." ink
Tishwash: they are running this again
Iraq continues its efforts to gain membership in the World Trade Organization
The Ministry of Commerce confirmed the government's aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq's accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files.
The ministry’s official spokesman, Muhammad Hanoun, said, “Iraq has joined as an observer in the World Trade Organization since 2004, and until 2023 this accession faced many problems and challenges, the most recent of which is the failure to pay dues to join the observer organization. However, after the announcement of the government program by Prime Minister Muhammad Shia Sudanese began working again on the possibility of Iraq joining this organization, as two sessions took place and a dialogue was held with the organization by the Iraqi negotiating team headed by the Minister of Trade, Atheer Al-Ghurairi, which included all the relevant Iraqi ministries and bodies.
Hanoun added, “The World Trade Organization assigned the Saudi representative to the organization, Saqr Al-Muqbel, to manage the file of Iraq’s accession, and he came to Baghdad on an important visit and met with the Iraqi negotiating team, and many issues were addressed, the most important of which were the files of goods and services, as well as the legislation that the Iraqi economic reform team in the Prime Minister’s Office would carry out.” By addressing it within the frameworks and legislation within which the World Trade Organization operates.”
He continued, "Joining will achieve many things for Iraq, most notably that it will support the file of Iraqi goods and facilitate their entry into global markets, and secondly, the harmonization of Iraqi laws and regulations with international laws and regulations," pointing out that "Iraq has today become a major economic player on the world level and needs to harmonize Iraqi laws with international laws." .
He stressed, “Minister of Trade Atheer Al-Ghurairi attended the third session of the World Trade Organization, which was held in the Emirate of Dubai in the UAE, and met with the Assistant Director-General of the organization. We believe that the meeting will achieve progress in achieving the government’s aspirations regarding accession in an accelerated manner,” appreciating “the Saudi efforts in overcoming many special obstacles.” Iraq's accession to the World Trade Organization. link
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Tishwash: Trade confirms the processing of files within efforts to join the World Trade Organization
Today, Friday, the Ministry of Commerce confirmed the government’s aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq’s accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files.
The ministry’s official spokesman, Muhammad Hanoun, told the Iraqi News Agency (INA): “Iraq joined as an observer in the World Trade Organization from 2004, and until 2023, this accession faced many problems and challenges, the most recent of which was the failure to pay dues to join the observer organization, but after the announcement Regarding the government program of Prime Minister Muhammad Shiaa Al-Sudani, work began again on the possibility of Iraq joining this organization, as two sessions took place and a dialogue was held with the organization by the Iraqi negotiating team headed by the Minister of Commerce, Atheer Al-Ghurairi, which included all the relevant Iraqi ministries and bodies.
Hanoun added, “The World Trade Organization assigned the Saudi representative to the organization, Saqr Al-Muqbel, to manage the file of Iraq’s accession, and he came to Baghdad on an important visit and met with the Iraqi negotiating team, and many issues were addressed, the most important of which were the files of goods and services, as well as the legislation that the Iraqi economic reform team in the Prime Minister’s Office would carry out.” By addressing it within the frameworks and legislation within which the World Trade Organization operates.”
He continued, "Joining will achieve many things for Iraq, most notably that it will support the file of Iraqi goods and facilitate their entry into global markets, and secondly, the harmonization of Iraqi laws and regulations with international laws and regulations," pointing out that "Iraq has today become a major economic player on the world level and needs to harmonize Iraqi laws with international laws." .
He stressed, “Minister of Trade Atheer Al-Ghurairi attended the third session of the World Trade Organization, which was held in the Emirate of Dubai in the UAE, and met with the Assistant Director-General of the organization. We believe that the meeting will achieve progress in achieving the government’s aspirations regarding accession in an accelerated manner,” appreciating “the Saudi efforts in overcoming many special obstacles.” Iraq's accession to the World Trade Organization. link
Mot: .. and Once AGAIN!!! -- We Are Here!!!
Mot: . So Far -- So Good!!!
News, Rumors and Opinions Saturday AM 3-2-2024
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 Sat. 2 March 2024
Compiled Sat. 2 March 2024 12:01 am EST by Judy Byington,
US, Europe Economic Collapse Accelerating At A Nightmare Speed
Fiat US Dollar = Global Financial Crash = Global Currency Reset
Global Currency Reset Judy Note: What we think we know as of Sat. 2 March 2024:
On Sat. 23 Feb. 2024 the World Trade Organization announced that Iraq had completed all requirements to be accepted as a member of the WTO including (Allegedly) setting their new Iraqi Dinar International exchange rate.
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 Sat. 2 March 2024
Compiled Sat. 2 March 2024 12:01 am EST by Judy Byington,
US, Europe Economic Collapse Accelerating At A Nightmare Speed
Fiat US Dollar = Global Financial Crash = Global Currency Reset
Global Currency Reset Judy Note: What we think we know as of Sat. 2 March 2024:
On Sat. 23 Feb. 2024 the World Trade Organization announced that Iraq had completed all requirements to be accepted as a member of the WTO including (Allegedly) setting their new Iraqi Dinar International exchange rate.
On Wed. 28 Feb. Central Bank of Iraq (Allegedly) announced that the new Dinar Rate was $3.47.
On Thurs. 29 Feb. at around 7 pm EST Iraqi PM Al Suddani (Allegedly) stated that the Dinar RV was done, the Dinar was asset-backed and Iraq had officially joined BRICS.
The Ten Days of Darkness/ Exposure appeared slated to occur around Sun. 3 March through Wed. 13 March 2024.”
Notification for Tier4b (us, the Internet Group) to set redemption/exchange appointments could be set by Mon. 4 March.
Tier4b will have 14-15 days to exchange at Redemption Centers. After that you would have to (Allegedly) exchange at a bank at the lower rates.
Restitution and Rebate monies will (Allegedly) begin to be paid out likely around 15th of March.
On Fri. 1 March 2024 Iraq will join other BRICS nations for the Global Currency Reset – exactly one year (March 2023) after the new Quantum Financial System went live on the Star Link Satellite Network.
Fri. 1 March MarkZ: A number of banking sources say that the new currency has been distributed and kept wrapped and sealed…to be distributed mid March. They do not know the exact date yet, but I have gotten reports from different areas around the US…not just one story or one area…but, from multiple sources who work in banking. I would put this one in the “truthful” category. This piece of rumor is downright exciting. According to military sources there is a major push to end the Ukraine war before Mar, 15th elections are occurring in Russia. They would like to have peace accords worked out by then. I heard they have been quietly meeting.
Fri. 1 March Wolverine: Sources, including those in Iraq, say that the RV has officially started, (announced in Iraq Thurs. 29 Feb. at around 7pm EST). That is 1000 percent correct. Brazil has started with liquidity and those funds should be released tomorrow Sat. 2 March. We are receiving good news from various platforms as well! We should cross the finish line today Fri. 1 March or tomorrow Sat. 1 March. Most of your have waited for many years, and soon, I will release that opera. I wanted to tell you that all this is real, so you can remain calm. When we get the Green Light, all the hate from those spewing hate will stop. That is all I have to say to you guys. We are nearly there! God Bless you All!
Fri. 1 March Stacy on Telegram, “I was talking to my banker. She said “It’s here. It came in today but we’re not allowed to see or touch it.” She was referring to the new US Note. She didn’t know when it would be made public, but guessed around March 15.
Sat. 2 March: RV Date Final Release Only 2 Days Wait Over IQD RV, RI, RD Done | Iraqi Dinar News Today 2 March 2024 (youtube.com)
Fri. 1 March: US, Europe Economic Collapse Accelerating At Nightmare Speed: https://beforeitsnews.com/economy/2024/03/situation-update-mar-1-2024-the-economic-collapse-of-the-usa-europe-is-now-accelerating-at-nightmare-speed-3106117.html
Read full post here: https://dinarchronicles.com/2024/03/02/restored-republic-via-a-gcr-update-as-of-march-2-2024/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Parliament has no choice but to get on board of the bandwagon of the monetary reform. Now they constantly take false credit for the success of the monetary reform...Why are we in a position where [they're saying] 'Yeah, they're going to be giving you a new currency and they're going to float it.' Why? Because the auctions are no more for the pleasure of Iran to steal the future from the Iraqi citizens. Parliament has no choice because it's about to happen...Iraq is in a position to move forward.
Harlequinc3 Question: "I don't have any receipts of currency i bought 14 years ago...is that a problem to exchange it when the event happens?" Only in the event of an audit for taxation. The bank won't care in the slightest when and where you got your dinar -- as long as it's valid currency. All the receipt proves is WHEN you bought your dinar -- which only matters to entities like the IRS, because the tax bracket for capital gains changes depending on how LONG you've had the asset. [Dinar Guru NOTE: Some gurus feel the exchange will be capital gains, others personal income, other not taxed at all. The only opinion that matters is the IRS's - At the appropriate time consult your tax advisor to determine the right tax for your unique circumstances.]
Will Interest Rate Derivatives Be The Feds Undoing?
Lynette Zang: 3-1-2024
This channel is dedicated to supporting sound money globally and building a community that connects us worldwide.
BEYOND BELIEF AND BY DESIGN! The US National Debt IS SKYROCKETING! Will End VERY BADLY.
Greg Mannarino: 3-1-2024
Goldilocks' Comments and Global Economic News Friday Evening 3-1-24
Goldilocks' Comments and Global Economic News Friday Evening 3-1-24
Good Evening Dinar Recaps,
"Congress approves a short-term extension to avoid a shutdown and buy more time for final spending agreement"
This short-term extension lasts until the 22nd of March, 2024. At that time, a new fiscal budget is expected to be approved in the US.
This was supposed to be voted on last October the 1st of 2023, but many adjustments to the bill has been adjusted since that time to incorporate new needs and discarding ones no longer needed as we move into the new digital asset based trading system.
At that time, new liquidity forming the basis for our new digital economic framework projects (Protocol 20) will come into play as we incorporate new ways of living in this new world. AP News
© Goldilocks
~~~~~~~~~~
Goldilocks' Comments and Global Economic News Friday Evening 3-1-24
Good Evening Dinar Recaps,
"Congress approves a short-term extension to avoid a shutdown and buy more time for final spending agreement"
This short-term extension lasts until the 22nd of March, 2024. At that time, a new fiscal budget is expected to be approved in the US.
This was supposed to be voted on last October the 1st of 2023, but many adjustments to the bill has been adjusted since that time to incorporate new needs and discarding ones no longer needed as we move into the new digital asset based trading system.
At that time, new liquidity forming the basis for our new digital economic framework projects (Protocol 20) will come into play as we incorporate new ways of living in this new world. AP News
© Goldilocks
~~~~~~~~~~
This is where we stand on our Tokenized Treasuries.
Currently, this is where we stand on tokenizing our treasuries that represent assets of the US Treasury Securities in digital format. It is our US Treasury Securities that becomes the foundation of building our new Financial Infrastructure.
These digital tokens become tradable assets on the blockchain. This gives you an idea of where we stand in the process of building the new digital economy. Unchained Crypto
© Goldilocks
~~~~~~~~~~
"Congress approves a short-term extension to avoid a shutdown and buy more time for final spending agreement"
This short-term extension lasts until the 22nd of March, 2024. At that time, a new fiscal budget is expected to be approved in the US.
This was supposed to be voted on last October the 1st of 2023, but many adjustments to the bill has been adjusted since that time to incorporate new needs and discarding ones no longer needed as we move into the new digital asset based trading system.
At that time, new liquidity forming the basis for our new digital economic framework projects (Protocol 20) will come into play as we incorporate new ways of living in this new world. AP News
© Goldilocks
~~~~~~~~~~
Euro Bank and India UPI Announcement:
"NPCI International Payments Limited (NIPL), a subsidiary of National Payments Corporation of India (NPCI), and Eurobank SA, a Greek bank, have signed a Memorandum of Understanding (MoU) towards enhancing cross-border payments using UPI rails."
The Euro Bank and and India's UPI has a Memorandum of Understanding (MoU) between them on cross border payments utilizing the Unified Payments Interface.
"The eurobank is a financial institution that accepts deposits (https://www.investopedia.com/terms/d/deposit.asp) and makes loans (https://www.investopedia.com/terms/l/loan.asp) in foreign currencies." What makes this connection so important lies in the fact of the payment systems between them.
"As the private bank of the largest financial group in the world, Frankfurter Bankgesellschaft is both at home in Zurich and in Frankfurt am Main, rooted in both countries – Switzerland and Germany – and closely connected with city and country, culture and society at both locations."
Cross border Euro payments to and from Switzerland go through the Swiss Euro Clearing Bank in Frankfurt. This acts as the link between the two systems. These connections are of prime importance in uniting foreign markets to one of the most influx of money that moves through the world each day.
This gives us more access to foreign markets and foreign currency trades. Each day, we are witnessing various pieces of our global economy unite into what makes up the Global Markets.
These new connections make up new digital building blocks inside the new QFS. Gaps are being closed rapidly, and the need for stablecoins to purchase tokenized assets from around the world is becoming more and more important.
As Protocol 20 continues to expand uniting Quantum Technologies, look for stablecoins to become more in the forefront going forward.
© Goldilocks
CNBCTV
BIS
Swiss Banking
Swiss-Banking-Lawyers
~~~~~~~~~~
ABU DHABI, March 1 (Reuters) – World Trade Organization (WTO) negotiators extended talks again in Abu Dhabi on Friday as they struggled to break a political deadlock after five days of high-level negotiations.
It was far from clear whether a consensus could be reached among the WTO’s 164 members before a new deadline of 10 p.m. local time (1800 GMT). Several delegates warned that countries remained far apart as organisers announced a fifth extension.
WTO talks run deep into overtime with no breakthrough in sight - CNBC Africa CNBC Africa
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IMPORTANT UPDATE: The #WTOMC13AbuDhabi closing session has been postponed. Follow our social media channels to stay updated.
More about MC13: wto.org/mc13 WTO Twitter
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CFTC Announcement:
Washington, D.C. — The Commodity Futures Trading Commission today announced it is extending the deadline for the public comment period on a proposed rule that makes certain modifications to the CFTC’s swap data reporting rules in Parts 43 and 45 related to the reporting of swaps in the other commodity asset class and the data element appendices to Parts 43 and 45 of the CFTC’s regulations. The deadline is being extended to April 11, 2024.
The proposed rule was published in the Federal Register on December 28, 2023, with a 60-day comment period scheduled to close on February 26, 2024. [See CFTC Press Release No. 8835-23]
The Commission provided the extension in response to a request by a commenter. Comments may be submitted electronically through the CFTC Comments online process. All comments received will be posted on CFTC.gov. CFTC
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CFTC Reporting (Dodd-Frank) | Kaizen Reporting
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FEDNOW Instant Payments Announcement:
The Federal Reserve’s FedNow Service is an instant payments infrastructure that allows participating banks and credit unions to send and receive transactions within seconds on behalf of their customers — 24 hours a day, seven days a week.
This page lists participating financial institutions that are currently live on the service, as well as financial institutions serving as settlement and liquidity providers. Financial institutions that have completed testing and certification will be added to the list once they are live on the service. FRB Services
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RBI Grants Payment Aggregator License to Amazon Pay in India - Fintech Singapore
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US says falling trade with China could be positive - BBC News
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Thank you Dinar Recaps
"Tidbits From TNT" Friday 3-1-2024
TNT:
Tishwash: Biden and his deputy refuse to meet Masrour Barzani at the White House
An American website confirmed that the offices of the US President and Vice President refused to hold face-to-face meetings this week with the Prime Minister of the Iraqi Kurdistan region, Masrour Barzani.
According to the Washington Free Beacon website, citing sources and former American officials who sought to hold these meetings, they expressed their concern that Biden and Harris would not give time to meet Barzani.
The website stated, “US Secretary of State Anthony Blinken pressured Masrour Barzani to work more closely with the Iraqi government to calm tensions.”
TNT:
Tishwash: Biden and his deputy refuse to meet Masrour Barzani at the White House
An American website confirmed that the offices of the US President and Vice President refused to hold face-to-face meetings this week with the Prime Minister of the Iraqi Kurdistan region, Masrour Barzani.
According to the Washington Free Beacon website, citing sources and former American officials who sought to hold these meetings, they expressed their concern that Biden and Harris would not give time to meet Barzani.
The website stated, “US Secretary of State Anthony Blinken pressured Masrour Barzani to work more closely with the Iraqi government to calm tensions.”
The website also quoted Michael Knights, an expert on Middle East affairs, close to the Kurdish leadership, residing in Erbil and a personal friend of Kurdistan Democratic Party member Hoshyar Zebari, as saying, “The White House refuses to meet with friends and partners of the United States from Kurdistan, but happily invites the Iraqi Prime Minister to the office.” Al-Baydawi,” adding, “It seems to many as if the United States cannot distinguish between friends and enemies. link
Tishwash: Iraq concludes its discussions with the International Monetary Fund expert mission in Amman
The Iraqi delegation, headed by Finance Minister Taif Sami, concluded today, Thursday, its discussions with the Article IV mission of International Monetary Fund experts in Amman, while the mission confirmed its continued support for the government’s reform steps.
The Ministry of Finance stated in a statement received by Mawazine News, that “during the discussions, the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability, and maximizing non-oil revenues were reviewed.”
The Iraqi delegation confirmed, according to the statement, that “the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement, and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure, and reconstruction,” indicating “its intention to continue discussions and consultations during the Fund’s periodic annual meetings.” ".
The Fund’s mission praised “the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023 with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.” .
The mission noted “the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and counter-terrorism financing controls on cross-border payments,” welcoming “government plans aimed at strengthening public financial management, including welcoming “With the steps taken by the government towards establishing a unified treasury account, improving cash flow management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.”
The mission also expressed its optimism about “the level of understanding and progress achieved with the Iraqi government and the coordination steps and joint consultations that will be completed in the near term that will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts,” explaining that “purposeful structural reforms are continuing to stimulate economic diversification.” “Creating job opportunities led by the private sector is a pivotal factor in achieving sustainable and inclusive growth.”
According to the statement, priorities at this level include creating equal opportunities for the private sector by implementing reforms in banking and the electricity sector, reducing distortions in the labor market, and continuing to make efforts to strengthen governance and limit the spread of corruption.
It is noteworthy that Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts formal consultations with its officials. link
CandyKisses: International monetary indicates the decline in inflation rates and the stability of the foreign exchange market in Iraq
Shafaq News / The International Monetary Fund, a "remarkable decline" in inflation rates, which is reflected in the decline in food and energy prices in addition to the stability of the foreign exchange market in Iraq, according to the Ministry of Finance.
The ministry said in a statement that an Iraqi delegation headed by Finance Minister Taif Sami concluded today, Thursday, its discussions with the Article IV mission of the International Monetary Fund experts in Amman, during which the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development structure, financial sustainability and maximization of non-oil revenues were reviewed.
The statement quoted the delegation as confirming that the Fund promised to support development programs to promote public financial management, digital transformation, banking, retirement and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure and reconstruction, indicating its intention to continue discussions and consultations during the Fund's periodic annual meetings.
The statement added that the IMF mission praised "the return of growth in the non-oil sector strongly during 2023 with a noticeable decline in inflation rates, and this reflected on the decline in food and energy prices."
According to the statement, the mission "noted the positive developments of the return of trade finance operations to their normal course and the stability of the foreign exchange market following the implementation of anti-money laundering and anti-terrorism financing controls on cross-border payments."
It is noteworthy that the IMF Article IV consultations are bilateral meetings held annually between the IMF and member states, after which a team of IMF experts meets the member country and holds formal consultations with its officials.
************
Tishwash: The International Monetary Fund promises to support digital transformation in Iraq
Today, Thursday, the Iraqi delegation, headed by Finance Minister Taif Sami, concluded its discussions with the Article IV mission of International Monetary Fund experts in Amman.
The Ministry of Finance said in a press statement, “During the discussions, the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability, and maximizing non-oil revenues were reviewed.”
The Iraqi delegation confirmed, according to the statement, that “the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement, and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure, and reconstruction,” indicating “its intention to continue discussions and consultations during the Fund’s periodic annual meetings.” ".
The Fund’s mission praised “the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023 with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.” .
The mission noted “the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and counter-terrorism financing controls on cross-border payments,” welcoming “government plans aimed at strengthening public financial management, including welcoming “With the steps taken by the government towards establishing a unified treasury account, improving cash flow management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.”
The mission also expressed its optimism about “the level of understanding and progress achieved with the Iraqi government and the coordination steps and joint consultations that will be completed in the near term that will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts,” explaining that “purposeful structural reforms are continuing to stimulate economic diversification.” “Creating job opportunities led by the private sector is a pivotal factor in achieving sustainable and inclusive growth.”
According to the statement, priorities at this level include creating equal opportunities for the private sector by implementing reforms in banking and the electricity sector, reducing distortions in the labor market, and continuing to make efforts to strengthen governance and limit the spread of corruption.
It is noteworthy that Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts formal consultations with its officials link
Mot: . These Two!!! --- siiggghhhhhhh
Mot: ... the ""Latest"" Safety tip frum Inspector ""Mot"" of Course.
