Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20

MilitiaMan: Iraqi Dinar - IQD Dinar Update - Internal Factors - Central Bank - Communication - Fed Reserve Bank

Iraqi Dinar - IQD Dinar Update - Internal Factors - Central Bank - Communication - Fed Reserve Bank

MilitiaMan and Crew:  3-6-2024

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

Iraqi Dinar - IQD Dinar Update - Internal Factors - Central Bank - Communication - Fed Reserve Bank

MilitiaMan and Crew:  3-6-2024

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=J_nObQNJW1o

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News DINARRECAPS8 News DINARRECAPS8

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-5-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-5-24

Tlm724 Administrator Bondlady’s Corner

Economist: Implementing The Automation System Is A Devastating Blow To Money Smugglers

Economy | 03/05/2024   Mawazine News – Baghdad  Economic expert Abdul Hussein Tawfiq confirmed today, Tuesday, that implementing the automation system in the banking system is a devastating blow to money smugglers and corrupt people.

Tawfiq said in an interview with Mawazine News, “Implementing the electronic “automation” system is in the interest of Iraq and will generate abundant funds for it.”

He added, "The tone of Finance Minister Taif Sami was very nervous, which indicates the presence of parties obstructing the implementation of the automation system."

He pointed out that "implementing the automation system will enable the state to limit corruption and end smuggling operations."

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-5-24

Tlm724 Administrator Bondlady’s Corner

Economist: Implementing The Automation System Is A Devastating Blow To Money Smugglers

Economy | 03/05/2024   Mawazine News – Baghdad  Economic expert Abdul Hussein Tawfiq confirmed today, Tuesday, that implementing the automation system in the banking system is a devastating blow to money smugglers and corrupt people.

Tawfiq said in an interview with Mawazine News, “Implementing the electronic “automation” system is in the interest of Iraq and will generate abundant funds for it.”

He added, "The tone of Finance Minister Taif Sami was very nervous, which indicates the presence of parties obstructing the implementation of the automation system."

He pointed out that "implementing the automation system will enable the state to limit corruption and end smuggling operations."

Tawfiq pointed out that “implementing the automation system is a step in the right direction by the government.”

He continued: "We hope for the best if the automation system is implemented in Iraq and it will generate a lot of money for the state treasury."   https://www.mawazin.net/Details.aspx?jimare=243295

Iraq Will Export More Than 115 Million Barrels Of Crude Oil And Its Derivatives To America In 2023

Energy  Economy News _ Baghdad   The US Energy Information Administration announced today, Tuesday, that crude oil exports to the United States amounted to more than 115 million barrels during the past year 2023.

The administration said in a table seen by Al-Eqtisad News that Iraq exported crude oil and its products to America during the past year, amounting to about 115.263 million barrels.

She added that Iraq's exports of oil and its derivatives in December amounted to 6.922 million barrels, an increase of 1.571 million barrels from what they recorded in November, when they reached 5.351 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America within 12 months amounted to 489.69 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 1.476 million and 373 thousand barrels during the same time period.

Views 68  03/05/2024 - https://economy-news.net/content.php?id=41135

Sudanese Discusses Areas Of Cooperation With The International Finance Corporation Delegation

Economy | 03/05/2024 Mawazine News – Baghdad   Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of supporting projects associated with the Development Road Project.

The Prime Minister’s Media Office stated in a statement received by Mawazine News, that “Prime Minister Muhammad Shiaa Al-Sudani received a delegation from the International Finance Corporation (IFC), headed by the institution’s Vice President for Middle East Affairs, Hala Sheikh Ruhu.”

He explained, "The meeting witnessed a review of the areas and prospects of cooperation between Iraq and the institution, which is one of the institutions of the World Bank," stressing that "the government is continuing with economic reforms and measures to improve the investment environment, as well as implementing projects that contribute to increasing the gross domestic product and supporting non-profit sectors." Oil and empowering the private sector.

The Prime Minister called on the Corporation to open a training institute in Iraq that specializes in developing banking work, preparing economic models for projects, and supporting the Iraqi private sector’s trends in the cement and construction materials industry, with increasing demand following the progress of new city projects, as well as developing the capabilities of the General Company for Carbon Economics. Which Iraq is working to establish.

He stressed "the importance of supporting projects associated with the Development Road Project, as well as completing the discussion of plans prepared for the rehabilitation of Baghdad International Airport, which are sponsored by the Corporation."

For her part, Hala Rouho indicated, “The institution’s readiness to cooperate with Iraq in all fields, and appreciated the government’s role in expanding reforms and adopting a path that contributes to reducing carbon emissions,” pointing to “continuing work to implement plans to rehabilitate and expand Baghdad International Airport, and support sustainable development.” And promoting the growth of various economic sectors.”    https://www.mawazin.net/Details.aspx?jimare=243266

After The Recent Decline... Dollar Prices Are Rising Againgr

Economy |  3/05/2024  Mawazine News – Baghdad  The prices of the US dollar rose against the Iraqi dinar, today, Tuesday, in local markets.

The central Kifah and Harthiya stock exchanges recorded an exchange rate of 151,100 Iraqi dinars for 100 US dollars

, while the dollar exchange rates in banking shops and local markets reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=243250

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

 

Provoking Points to Ponder on Decisions 

The most important fact about Spaceship Earth: an instruction book didn't come with it. - R. Buckminster Fuller

Life is the only art that we are required to practice without preparation, and without being allowed the preliminary trials, the failures and botches, that are essential for the training of a mere beginner. - Lewis Mumford

Time has told me less than I need to know.  - Gwen Harwood

I learn by going where I have to go.  - Theodore Roethke

Life is like playing a violin in public and learning the instrument as one goes on.  - Samuel Butler

We don't have enough time to premeditate all our actions.  - Vauvenargues

Every year, if not every day, we have to wager our salvation upon some prophecy based upon imperfect knowledge.  - Oliver Wendell Holmes

 

http://famousquotesandauthors.com/quotes_by_topic.html                                   

http://famousquotesandauthors.com/topics/decisions_quotes.html  

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Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8

Goldilocks' Comments and Global Economic News Tuesday Evening  3-5-24

Goldilocks' Comments and Global Economic News Tuesday Evening  3-5-24

Good evening Dinar Recaps,

Finance ministers discuss BRICS Bridge digital currency payments 

"Specifically, the Ministry said, 'We are talking about creating a multilateral digital settlement and payment platform.' However, Sputnik International one of Russia’s English propaganda networks, went further. It said Finance Minister Anton Siluanov was ready to test digital currencies with China, the Eurasian Economic Union (EAEU) and the Gulf countries."

Another news outlet quoted Siluanov as saying, “The first thing to do is to create a connection to the existing central bank digital currency systems that are already operating in a number of countries. In parallel with this, national financial messaging systems need to be connected.”

Here, we have information with specific guidance on what has to be done in Russia and the BRICS system to see their local currencies onboarded to the new QFS. They give us a direct message in the last sentence of the above article.

Here it is again separated from the paragraph, "...national financial messaging systems need to be connected."

Goldilocks' Comments and Global Economic News Tuesday Evening  3-5-24

Good evening Dinar Recaps,

Finance ministers discuss BRICS Bridge digital currency payments 

"Specifically, the Ministry said, 'We are talking about creating a multilateral digital settlement and payment platform.' However, Sputnik International one of Russia’s English propaganda networks, went further. It said Finance Minister Anton Siluanov was ready to test digital currencies with China, the Eurasian Economic Union (EAEU) and the Gulf countries."

Another news outlet quoted Siluanov as saying, “The first thing to do is to create a connection to the existing central bank digital currency systems that are already operating in a number of countries. In parallel with this, national financial messaging systems need to be connected.”

Here, we have information with specific guidance on what has to be done in Russia and the BRICS system to see their local currencies onboarded to the new QFS. They give us a direct message in the last sentence of the above article.

Here it is again separated from the paragraph, "...national financial messaging systems need to be connected."

Meanwhile, Russia will be testing their new digital currency this year. Remember, Putin is the chair of the BRICS System this year, and many of the currencies we are looking to revalue have already joined this group. BRICS Nations are formulating a digital gold token for trade, this will change everything.

Do you remember ISO 20022 messaging system? It is still important.

(https://sputnikglobe.com/20240226/russia-ready-to-test-payments-in-digital-currencies-with-china-eaeu---finance-minister-1116982914.html),

Watch the water.

© Goldilocks
Ledger Insights
Federal Reserve

~~~~~~~~~~

Fedwire is a real-time gross settlement system of central bank money used by Federal Reserve banks to transfer funds electronically between member institutions. Banks, businesses, and government agencies use Fedwire for large, same-day transactions.   Investopedia

~~~~~~~~~~

When factoring in currency trades, it is the first currency in a currency pair that represents how much currency is needed to purchase a single unit of the corresponding currency beside it. Investopedia


© Goldilocks

~~~~~~~~~~

Freedom Fighter ©
A currency pair is the quoting of 2 different currencies, with the currency on the left of the slash  
 ( / ) being exchanged FOR the currency on the right of the slash ( / )

Our exchange will be IQD/USD

AKA we are exchanging
✅DINAR for USD (IQD/USD)

NOT ❌USD for DINAR
 (USD / IQD )

Hear Freedom Fighter's Explanation here:  https://t.me/c/1545617426/75146

~~~~~~~~~~

Freedom Fighter ©

✅Another example

~~~~~~~~~~

Thank you Freedom Fighter for a wonderful explanation in detail.

~~~~~~~~~~

Iraq confirms it has completed the requirements to join the World Trade Organisation | Zawya News

~~~~~~~~~~

Official: Iraq's accession to the World Trade Organization is imminent | Shafaq

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RBI Expects Launch Of Interoperable Internet Banking In 2024: Shaktikanta Das |  NDTV Profit
~~~~~~~~~~

Analyzing the latest updates and advancements in Stellar (XLM) | CryptoNewsz

~~~~~~~~~~

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KTFA, News Dinar Recaps 20 KTFA, News Dinar Recaps 20

KTFA Membrs "News and Views" Tuesday 3-5-2024

KTFA:

RE: Monday Night CC:  https://fccdl.in/MeTj1sVDZZ

DeepWoodz:  imo.. thanks for the call Frank. Just a heads up… The listing USD/IQD = 2.81 would mean $1 = 2.81 dinar. Not the other way around. Even if this is true, definitely an improvement worthy of praise.  If you want to see the value of the dinar, simply list it the other direction. i.e….IQD/USD. Which equals .355.    1 dinar =0.35$

Frank26:  TEAMWORK !!! ...........I APPRECIATE YOUR HELP DW !!! TY KINDLY

DeepWoodz:  Something else I’d like to mention since you’re talking. I’ve been using Google the same way for several years now. You can type usdiqd into the search and Google has what I assume is a public rate of around 1310. So I am used to typing it in without the forward slash. 

When I do that in forexlive, I get the 1310 there also. It is interesting that without the /, the Iraqi and American flags pop up beside the pair. With the /, nothing pops up with the pair but the rates are much different (better).   Like you said, something is going on, and I like it.     Imo

KTFA:

RE: Monday Night CC:  https://fccdl.in/MeTj1sVDZZ

DeepWoodz:  imo.. thanks for the call Frank. Just a heads up… The listing USD/IQD = 2.81 would mean $1 = 2.81 dinar. Not the other way around. Even if this is true, definitely an improvement worthy of praise.  If you want to see the value of the dinar, simply list it the other direction. i.e….IQD/USD. Which equals .355.    1 dinar =0.35$

Frank26:  TEAMWORK !!! ...........I APPRECIATE YOUR HELP DW !!! TY KINDLY

DeepWoodz:  Something else I’d like to mention since you’re talking. I’ve been using Google the same way for several years now. You can type usdiqd into the search and Google has what I assume is a public rate of around 1310. So I am used to typing it in without the forward slash. 

When I do that in forexlive, I get the 1310 there also. It is interesting that without the /, the Iraqi and American flags pop up beside the pair. With the /, nothing pops up with the pair but the rates are much different (better).   Like you said, something is going on, and I like it.     Imo

Moparman:  I have found two exchanges so far showing the wonky movement of the dinar: the Toronto Stock Exchange and the Chicago Board Options Exchange. The CBOE is explicitly for options contracts. Intercontinental Exchange is still showing the 'official' rate of 1310 (IQD:USD -- the standard notation for ForEx pairing.)

The CBOE (USD/IQD) is showing USDIQD at 2.73 -- this means 2.73 dollars equals 1 dinar. The TSX (IQD/USD) is showing the inverse of that, which means .366 of 1 dinar equals 1 dollar -- .366 equals $2.73 per 1 dinar. They're responding in real time in sync.

As an example, a 25,000 dinar note would be $59,250 at that current rate.

Just thought it might help to post. No, this isn't the rate of the dinar currently -- it's futures options, which can run anywhere from 1 day up to 6 months -- but it absolutely shows something is going on with the dinar skyrocketing.

Addendum (I forgot to mention this): USD/IQD means how many dollars equal a dinar. IQD/USD (notice the inverse, it's flipped) means how many dinars equal a dollar. The 2.73 IS a dollar amount -- the inverse is how you'd calculate the exchange rate ($1 divided by .366 -- which is $2.73.) Someone was mentioning earlier that's not a dollar amount, but the USD/IQD way IS a dollar amount.

*************

Clare:  Dinar and dollar

March 4, 2024   Mohammed Rashid

Most of the crises that accompanied us led to the collapse of our national currency (the dinar) were due to the wars that were forcibly imposed on Iraq by some major powers for many years, and the dollar was the final command that dominated the economic scene and contributed to destroying the value of the Iraqi dinar.

In 1970, a piece of land with an area of ​​(600) square meters in the most prestigious place in our city of architecture was worth (5) thousand dinars, and today the same piece is worth (one billion) and (500) million dinars. This is how playing with the fate of peoples was in order to weaken them and control them. Its human and oil resources.

Today, the economic world is witnessing a qualitative boom in awareness, and very soon it will overthrow the “dollar” and its name will be changed in the coming period to “the dinar” and after a while to “the dollar,” and in the end it will completely lose its value and its printing price will be equal to (a number of cents).

In a televised interview with the “”Iraqi President, Engineer Muhammad Shiaa Al-Sudani””, he uttered a very important phrase (keep the dinar). Today, through my humble vision, I bear witness that the ”Iraqi dinar will return to its lofty economic value””, away from wars and violence, through a new era that imposes its cultural will in the region and the world.   LINK

DallasDude:  Well, this is as good as it gets as far as articles go...for some reason I am feeling a little more pep in my STEP today..

Moparman:  I believe when forex hits the desired number, we as investors go to the bank. This guy talking is just more proof that we will soon celebrate

************

Clare:  Saleh confirms Iraq's monetary sovereignty and reduces the effects of speculation in the parallel market

3/5/2024

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, ruled out any effects on the exchange market due to “speculation” of the dollar in the parallel market.

Saleh told Al-Furat News Agency, “The effects on the exchange market no longer represent the real price operations of the basic market forces.”

He stated, “Parallel market operations are nothing but illegal speculative acts that profit from accidental profits on individual or marginal transactions and are undertaken by forces of speculators working against the law. This irregular parallel market has become isolated from the power of the official or regular market since the end of the legalization of economic transactions and the prohibition of... Any transactions in dollars in clearing debts within the national economy between natural and legal persons, as today any internal contracts, transactions or obligations concluded in foreign currency and denominated in a currency other than the national currency are not legally valid.”

Saleh noted that "this confirms the monetary sovereignty of our country through the stability of the national currency and dealing in it alone without the participation of foreign currencies in internal economic operations."

Raghad Dahham    LINK

Clare:  The Sudanese advisor details Iraq's financial situation and addresses exchange rates

3/5/2024   Baghdad

Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.

Saleh said, in an interview followed by “Al-Iqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, and they are the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."

He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth."  

He pointed out that "the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and it expresses the growing activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops." We expect Iraq’s grain production in the next few months to reach 6 million tons.”    LINK

************

Clare:  Official: The issue of Iraq’s accession to the World Trade Organization is coming soon

3/5/2024

Undersecretary of the Minister of Commerce, Sattar Al-Jabri, considered on Tuesday that the issue of Iraq’s accession to the World Trade Organization was imminent, while he stressed that the current federal government would achieve self-sufficiency and not depend on the importer.

This came during his hosting of a discussion session on the sidelines of the seventh session of the activities of the third day of the Al-Rafidain Forum 2024 - Baghdad, under the title “Humanizing the Global Economy.”

Al-Jabri said during the hosting that the governmental curriculum developed by the Iraqi government is based on a strategy to keep pace with the development taking place in the global economy, as the government signed bilateral international memorandums of understanding in the field of trade and economics.

He stressed that "Iraq is seeking to enter the World Trade Organization, and the issue is coming soon."

The Iraqi government official spoke about the issue of import and export, saying: There is no trade balance between exported and imported materials, as the monetary mass was going to other countries, and this is what the current government seeks to address by relying on self-sufficiency.

 At the beginning of 2024, the Kingdom of Saudi Arabia announced its support for Iraq’s accession to the World Trade Organization, especially after the political obstacles that prevented it were removed.   LINK

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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20

"Tidbits From TNT" Tuesday 3-5-2024

TNT:

Tishwash:  Central: We spend millions of dollars on electronic payment, and Iraqis prefer cash

The Central Bank confirmed, on Monday, March 4, 2024, that Iraqi society prefers to deal with cash, pointing out that millions of dollars are spent annually by the bank on electronic payment. 

Iraqis prefer cash in their transactions, while the Central Bank spends millions of dollars on electronic payments

Deputy Governor Ammar Khalaf said in a speech followed by “Ultra Iraq” that “Iraqi society prefers to rely on cash in daily transactions,” noting that “the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank during the year.” the past".

TNT:

Tishwash:  Central: We spend millions of dollars on electronic payment, and Iraqis prefer cash

The Central Bank confirmed, on Monday, March 4, 2024, that Iraqi society prefers to deal with cash, pointing out that millions of dollars are spent annually by the bank on electronic payment. 

Iraqis prefer cash in their transactions, while the Central Bank spends millions of dollars on electronic payments

Deputy Governor Ammar Khalaf said in a speech followed by “Ultra Iraq” that “Iraqi society prefers to rely on cash in daily transactions,” noting that “the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank during the year.” the past".

According to experts  , the Iraqi government, through attempts to implement electronic payment, aims to withdraw the monetary mass in circulation in Iraq, which amounts to 84 trillion dinars.

Khalaf pointed out that “the Central Bank spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq,” explaining that “the digital financial transformation in Iraq began when the salaries of state employees were localized and bank accounts were opened” to use electronic payment .

The Deputy Governor stated that the Ministry of Oil, gas stations, and some ministries “quickly responded to the directives of the Central Bank and the Iraqi government,” in addition to “the Passport Directorate, which required that payment be electronic, and the General Traffic Directorate.”

Ten days ago, the regional president of Visa, in Central and Eastern Europe, the Middle East and Africa, Andrew Torrey, revealed  “the company’s readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from points of sale with electronic payment.” in Iraq  link

************

Tishwash:  Central Bank: Iraqi society prefers to use cash in daily transactions

3/4/2024 - Baghdad

The Central Bank of Iraq announced today, Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while indicating that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.

Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, “The digital financial transformation in Iraq began with the localization of state employee salaries and the opening of bank accounts, the primary purpose of which is to use electronic payment in daily transactions, whether inside Iraq.” Or outside it.”

Khalaf added, “Iraqi society prefers to rely on cash in daily transactions, but the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank over the past year and it continues to encourage and activate electronic payment in Iraq by issuing many Among the laws, controls and instructions that encourage the use of electronic payment in Iraq.

He pointed out that "some ministries responded quickly to the directives of the Central Bank and the Iraqi government, especially the Ministry of Oil by making collections at gas stations and others via electronic payment, as well as the Passports Directorate, which obligated payment to be electronic, in addition to the General Traffic Directorate and other ministries." Stressing that "all this support gives a very strong and significant impetus to electronic payment."

He pointed out that "the Central Bank has been the only influential player for many years, as it has embraced the importance of digital transformation in most of its transactions, and spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for developing electronic payment in Iraq through the use of the best internationally approved systems and standards in this field." ".   LINK

************

Tishwash:  Central Bank: Using the best internationally approved systems and standards in the field of electronic payment

The Central Bank of Iraq announced today, Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while indicating that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.

The Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, attended by an Earth News correspondent, that “the digital financial transformation in Iraq began with the localization of the salaries of state employees and the opening of bank accounts, the primary purpose of which was to use electronic payment in daily transactions.” Whether inside or outside Iraq.”

Khalaf added, “Iraqi society prefers to rely on cash in daily transactions, but the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank over the past year and it continues to encourage and activate electronic payment in Iraq by issuing many Among the laws, controls and instructions that encourage the use of electronic payment in Iraq.”

He pointed out that “some ministries responded quickly to the directives of the Central Bank and the Iraqi government, especially the Ministry of Oil by making collections at gas stations and others via electronic payment, as well as the Passports Directorate, which obligated payment to be electronic, in addition to the General Traffic Directorate and other ministries.” He stressed that “all this support gives a very strong impetus to electronic payment.”

He pointed out that “the Central Bank has been the only influencer for many years, as it has embraced the importance of digital transformation in most of its transactions, and spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for developing electronic payment in Iraq through the use of the best internationally approved systems and standards in this field.”   link

Mot:  . HUH??? --- Did I Realy Read what I Just Read!!???? 

Mot: and YES!! Yet another Great ""Dieting Tip"" frum ole Mot of Course!!

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Iraqi News Highlights and Points to Ponder Tuesday AM 3-5-24

Iraqi News Highlights and Points to Ponder Tuesday AM 3-5-24

The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates

Economy News – Baghdad  Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.

Saleh said, in an interview followed by “Al-Iqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, and they are the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."

He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth." 

Iraqi News Highlights and Points to Ponder Tuesday AM 3-5-24

The Sudanese Advisor Details Iraq's Financial Situation And Addresses Exchange Rates

Economy News – Baghdad  Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.

Saleh said, in an interview followed by “Al-Iqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, and they are the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."

He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth." 

He pointed out that "the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and it expresses the growing activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops." We expect Iraq’s grain production in the next few months to reach 6 million tons.”

Views 172  03/05/2024 - https://economy-news.net/content.php?id=41130

Experts: We Are Optimistic About The Country's Financial Situation

Iraq  03/05/2024   Baghdad: Huda Al-Azzawi  Specialists in financial and economic affairs expressed their optimism about the future outlook for the country’s financial situation, and while they saw that Prime Minister Muhammad Shiaa Al-Sudani’s statement regarding this aspect and the overall economic file is correct and consistent with reality, they called for the continuation of steps to leave the unilateral rentier economy to a productive economy.

Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, said in an interview with “Al-Sabah”: The basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceeded 100 billion dollars, which is the cover of the national currency, which means that there is complete coverage of cash.

The national export in foreign currency, which provides ideal stability for the exchange rate of the Iraqi dinar, in addition to the fact that these foreign reserves embody the commercial efficiency of Iraq, as these reserves cover more than 15 commercial months, while the international standard is only three months.

He added, “We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8 percent), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth.”

He pointed out that “the real growth rate in Iraq’s non-oil gross domestic product has touched (6 percent) and it reflects the growth of the activities of important sectors, most notably the reconstruction, construction and housing movement and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops.” “We expect Iraq’s grain production in the next few months to reach 6 million tons.”

He stressed, “There is a serious trend towards developing the manufacturing sector, whether on the part of the private or public sector itself, in accordance with recent encouraging ministerial decisions in the field of reducing customs tariffs and protecting the national product or in the inputs of the industry itself, especially in providing electricity or fuel for industrial purposes at competitive prices.” Supported.

Saleh stated, “Growth in real non-oil activity has become thriving after many years of failure, in addition to the boom in investments in the oil and energy sector itself, as all sectoral activities indicate that there is a high growth in the country’s economic capabilities with high flexibility and discipline in financial policy.”

In which government spending still constitutes approximately 50 percent of the gross domestic product, which means that the country’s financial strategy is the compass for moving the macroeconomic joints, and it is in a highly stable position, both in the flow of oil revenues and controlling public expenditures.”

For his part, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, indicated in an interview with “Al-Sabah” that “what Prime Minister Muhammad Shiaa Al-Sudani stated that the financial situation of Iraq is at its best is correct; If the political, economic and financial situation of Iraq remains as it is.”

He noted that “the financial conditions are stable according to current data, including the stability of the political situation and the possibility of Iraq exporting more than three and a half million barrels per day at a price of more than $70 per barrel, either if these indicators change, whether with regard to the political situation and a decrease in oil prices or a halt.” Export chains for Iraqi oil. Iraq has a cash reserve in the range of 115 or 120 billion dollars that can be used over a period of two years, after which it may be exposed to financial crises.”

He explained, “Despite Sudanese work to bring about some changes, the Iraqi economy is still a unilateral rentier economy that relies on oil as the main financier of the general budget, and non-oil revenues are still very low, and the main sectors of the Iraqi economy are still stalled or slow.”

He concluded by saying: “Therefore, it cannot be relied upon in the event of a decline in oil prices, the inability to export oil, changes, or great stability on the political side. Therefore, according to the current situation, what the Prime Minister stated - as I previously indicated - is correct.” “.

Edited by: Muhammad Al-Ansari    https://alsabaah.iq/92892-.html

A Parliamentarian Denies That There Are Any Amendments To The Budget Schedules For The Year 2024

Political |  03/05/2024   Mawazine News – Baghdad  The representative of the Sadiqoun parliamentary bloc, Muhammad Al-Baldawi, confirmed today, Tuesday, that there are no amendments to the federal budget for the year 2024.

Al-Baldawi said, in an interview followed by Mawazine News, that “the government will work to develop schedules for expenditures and revenues and submit them to the Council.” Representatives to approve it.

He added, "Work will continue to implement the judicial provisions and decisions related to the region's employees, and the localization of their salaries."

He pointed out that "there is a movement to resolve controversial issues related to financial issues between Baghdad and Erbil."   https://www.mawazin.net/Details.aspx?jimare=243260

Through The Dollar Bill.. Washington Continues To Tighten The Noose On The Sudanese Government

Political |  04/03/2024   Mawazine News - Baghdad  The political and security analyst, Muhammad Al-Yasiri, today, Monday, accused the American administration of continuing its hostile policy towards Iraq.

Al-Yasiri said in an interview with Mawazine News, “The American policy of hostility against Iraq depends on two things. The first is tightening the stranglehold on the flow of dollars to the Central Bank of Iraq and reducing cash liquidity, as well as the terrorist ISIS card.”

He pointed out that "the American administration is working hard to restrict the Iraqi government and discourage it from demanding the removal of its occupying forces from the country," adding, "Whoever says that America is a friend of the Iraqi people is subject to the policy of collusion and treason."

Al-Yasiri continued, "The American restrictions on Iraq regarding the dollar clearly confirm the lie of the so-called friendship of the United States of America with Iraq."

He pointed out that "the American administration always resorts to punishing Iraq by establishing solid institutions under the control of the Iraqi state."

The US Treasury Department recently imposed economic sanctions on eight Iraqi banks, preceded by sanctions on fourteen others, and prevented them from dealing in the dollar currency, as the reasons behind imposing such sanctions were not explained.

https://www.mawazin.net/Details.aspx?jimare=243237

 

Provoking Points to Ponder on Decisions 

 Authority without wisdom is like a heavy axe without an edge, fitter to bruise than to polish. - Anne Bradstreet

One faces the future with one's past.  - Pearl S. Buck

Our deeds still travel with us from afar, and what we have been makes us what we are.  - George Eliot

You must not change one thing, one pebble, one grain of sand, until you know what good and evil will follow on that act.  - Ursula K. LeGuin

The beginning of compunction is the beginning of a new life.  - George Eliot

The Pilgrims didn't have any experience when they landed here. Hell, if experience was that important, we'd never have anybody walking on the moon.  - Doug Rader

Each person has a literature inside them. But when people lose language, when they have to experiment with putting their thoughts together on the spot-that's what I love most. That's where character lives. - Anna Deavere Smith

There is no data on the future.  - Laurel Cutler

 

http://famousquotesandauthors.com/quotes_by_topic.html 

http://famousquotesandauthors.com/topics/decisions_quotes.html

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Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20

MilitiaMan: Iraqi Dinar & Dollar - IQD Dinar Update - Return to Value - Digital Transformation a Reality - Power

Iraqi Dinar & Dollar - IQD Dinar Update - Return to Value - Digital Transformation a Reality - Power

MilitiaMan and Crew:  3-4-2024

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

Iraqi Dinar & Dollar - IQD Dinar Update - Return to Value - Digital Transformation a Reality - Power

MilitiaMan and Crew:  3-4-2024

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=9qu9cFiJ5-A

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Economics, Goldilocks, Gold and Silver, News DINARRECAPS8 Economics, Goldilocks, Gold and Silver, News DINARRECAPS8

Goldilocks' Comments and Global Economic News Late Monday 3-4-24

Goldilocks' Comments and Global Economic News Late Monday 3-4-24

Good Evening Dinar Recaps,

I am aware that we have a back screen rate people have been sharing on the dinar indicating movement in the IQD. It is good to know that there is one.

Now, you can stop doubting that this is real.

Keep your eyes on gold, silver, and oil to solar sections of the Debt Clock. These numbers will be the foundation assets to the new economy, and they are numbers we need to see in order to formulate real values across all market sectors.

All roads lead to gold, and gold will set us free.

© Goldilocks

~~~~~~~~~~

Goldilocks' Comments and Global Economic News Late Monday 3-4-24

Good Evening Dinar Recaps,

I am aware that we have a back screen rate people have been sharing on the dinar indicating movement in the IQD. It is good to know that there is one.

Now, you can stop doubting that this is real.

Keep your eyes on gold, silver, and oil to solar sections of the Debt Clock. These numbers will be the foundation assets to the new economy, and they are numbers we need to see in order to formulate real values across all market sectors.

All roads lead to gold, and gold will set us free.

© Goldilocks

~~~~~~~~~~

U.S. National Debt Clock : Real Time | US Debt Clock

~~~~~~~~~~

Monday Night Team call with
Texas Snake and Bob Lock: Focus on Planning

Time:  9 pm ET, 8 pm CT, 6pm PT   Team Call Live Link

The calls are recorded and in the Archive room Link 

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

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KTFA, News Dinar Recaps 20 KTFA, News Dinar Recaps 20

Staff Concluding Statement of the 2024 IMF Article IV Mission

Clare: Staff Concluding Statement of the 2024 IMF Article IV Mission

March 3, 2024

A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

March 3, 2024An International Monetary Fund (IMF) mission, led by Mr. Jean-Guillaume Poulain, met with the Iraqi authorities in Amman during February 20–29 to conduct the 2024 Article IV consultation. The following statement was issued at the end of the mission:

KTFA:

Clare: Staff Concluding Statement of the 2024 IMF Article IV Mission

March 3, 2024

A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

March 3, 2024An International Monetary Fund (IMF) mission, led by Mr. Jean-Guillaume Poulain, met with the Iraqi authorities in Amman during February 20–29 to conduct the 2024 Article IV consultation. The following statement was issued at the end of the mission:

Economic growth is projected to continue amid fiscal expansion. Meanwhile, medium-term vulnerabilities to oil price volatility have increased significantly. Reducing oil dependence and ensuring fiscal sustainability while protecting critical social and investment spending will require a significant fiscal adjustment, focused on controlling the public wage bill and increasing non-oil tax revenues. In parallel, higher economic growth will be needed to absorb the rapidly expanding labor force, boost non-oil exports and broaden the tax base.

The authorities should therefore seek to enable private sector development, including through labor market reforms, modernization of the financial sector and restructuring of state-owned banks, pension and electricity sector reforms, and continued efforts to improve governance and reduce corruption.     

Economic Outlook and Risks

Growth in the non-oil sector has rebounded strongly in 2023 while inflation receded. Supported by increases in public expenditure and solid agricultural output, real non-oil GDP is estimated to have grown by 6 percent in 2023 after stalling in 2022. Headline inflation declined from a high of 7.5 percent in January 2023 to 4 percent by year-end, reflecting lower international food and energy prices, and the impact of the February 2023 currency revaluation. The current account is expected to have recorded a surplus of 2.6 percent of GDP and international reserves increased to US$ 112 billion.

These positive developments were supported by the normalization of trade finance and the stabilization of FX market. After some initial disruptions following the introduction of new anti-money laundering and combating financing of terrorism (AML/CFT) controls on cross-border payments in November 2022, the improved compliance with the new system and the Central Bank of Iraq (CBI)’s initiatives to cut processing time led to a recovery in trade finance in the second half of 2023. This ensured private sector access to foreign exchange at the official rate for imports and travel purposes.

In the meantime, the fiscal position worsened. Although the expansionary budget was under-executed due to delayed Parliamentary approval, the fiscal balance still declined from a surplus of 10.8 percent of GDP in 2022 to a deficit of 1.3 percent in 2023, due to lower oil revenues and an increase in expenditures by 8 percentage points of GDP, of which salaries and pensions contributed 5 percentage points as the authorities started hiring in line with the budget law.

Overall growth is projected to rebound in 2024 and risks are tilted downwards amid heightened uncertainty. Non-oil growth momentum will continue in 2024. Larger declines in oil prices or extended OPEC+ cuts could weigh on fiscal and external accounts. If regional tensions escalate, a disruption of shipping routes or damage to the oil infrastructure could result in oil production losses that could outweigh the potential positive impact of higher oil prices.

 In case of a deterioration in domestic security conditions, this could lead to a decline in business sentiment and suspension of investment projects. Over the medium term, non-oil growth is projected to stabilize around 2.5 percent given existing hurdles to private sector development. Furthermore, vulnerability to oil price declines has increased as higher expenditures are projected to push the fiscal break-even oil price above $90 in 2024. Absent new policy measures, the fiscal deficit is expected to reach 7.6 percent in 2024 and widen further thereafter as oil prices are projected to gradually decline over the medium term. As a consequence, public debt would almost double from 44 percent in 2023 to 86 percent by 2029.

Policy Priorities

An ambitious fiscal adjustment would be required to help stabilize debt in the medium term and rebuild fiscal buffers, while protecting critical capital spending. Most of the fiscal adjustment would have to come from reducing current expenditure, especially controlling the wage bill by limiting mandatory hiring and gradually introducing an attrition rule. The authorities should also seek to increase non-oil revenues by broadening the personal income tax base and making it more progressive, reviewing the customs tariff structure, and considering new taxes on luxury items.

In parallel, efforts to make revenue and customs administration more efficient should continue. Further savings could be obtained through better targeting social support and increasing cost recovery within the electricity sector. These adjustment measures should provide room for the expansion of the targeted social safety net.

The authorities should also strengthen public financial management and limit fiscal risks. The mission welcomes initial steps towards the establishment of a Treasury Single Account (TSA), which is crucial to improve cash management. Further progress is needed and close cooperation between the CBI and Ministry of Finance will be essential. The next steps are to define TSA design options and complete the bank account census. In future years, overall ceilings on the issuance of guarantees should be specified in the budget law and be enforced. The mission advise against the use of extrabudgetary funds and highlights potential fiscal risks associated with their use. As a second best, it would be important to ensure the Iraq Fund for Development has appropriate governance arrangements, including governing board independence while ensuring transparency of the Fund’s activities including by publishing its investment plans in the annual budget documentation and restricting its ability to borrow. 

The mission encourages the authorities to build on the CBI welcomed efforts to reduce excess liquidity. The CBI appropriately raised the policy interest rate and reserve requirements, introduced a 14-day CBI bill facility last summer, and scaled back its subsidized lending to the real estate sector. However, monetary policy pass-through has been muted, hampered by large excess liquidity and lack of market incentives in financial intermediaries, especially at state-owned banks. The CBI’s ongoing efforts should be supported by consolidating idle government deposits in a TSA, refraining from procyclical fiscal policy, reducing the reliance on monetary finance, and improving public debt management. In parallel, efforts to develop an interbank market with the help of IMF technical assistance should continue. The mission also welcomes the authorities’ steps to speed up the digitalization of the economy, reduce the reliance on cash and enhance financial inclusion.

Wide-ranging structural reforms are needed to foster private sector development and economic diversification. Iraq needs higher and more sustainable non-oil growth to absorb the rapidly growing labor force, increase non-oil exports and government revenue, and reduce the economy’s vulnerability to oil price shocks. Key reform priorities include:

  • Adopting a comprehensive employment strategy aimed at phasing-out mandatory hiring in the public sector, leveling the playing field between public and private jobs, addressing mismatches between educational curricula and the skills needed in the private sector, and strengthening labor market institutions. The strategy should also aim at reducing informality and addressing legal, social, and cultural impediments to women’s participation in the workforce.

  • Accelerating financial sector reform to improve access to credit. The authorities are committed to modernizing the banking sector and supporting banks’ ability to secure correspondent banking relationships and have taken steps towards consolidation of small private banks. Efforts to restructure the two largest state-owned banks should intensify, including by expediting certification of past financial statements and implementation of core banking systems, and enhancing corporate governance in line with best practices.

  • Implementing a comprehensive pension reform. This is urgently needed to reduce the overall projected fiscal costs of the public pension scheme, better align the benefits and rules across the public and private schemes, ensure adequacy of pensions and intergenerational equity, and increase the ratio of workers participating in the private pension scheme.

  • Combating corruption and improving governance, particularly by strengthening the institutional and legal frameworks needed to ensure the independence of the Integrity Commission and the Board of Supreme Audit, enhancing the publication of assets and conflicts of interests declarations for top level officials, and adopting an updated anticorruption strategy. Further, public procurement and business regulations should also be enhanced. The authorities should also continue to strengthen the AML/CFT framework and its effectiveness, including in the banking sector, guided by the priority actions identified in the MENAFATF Mutual Evaluation that will be concluded in May 2024.

  • Removing other hurdles to private sector development by reforming the electricity sector to improve efficiency, cost recovery, and reliable access; simplifying procedures for business registration; and upgrading critical infrastructure.

The IMF staff team stands ready to support the authorities in their reform efforts and would like to thank them for constructive and productive discussions during this mission.

IMF Communications Department
https://www.imf.org/en/News/Ar.....iv-mission

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Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8

Goldilocks' Comments and Global Economic News Monday Evening 3-4-24

Goldilocks' Comments and Global Economic News Monday Evening 3-4-24

Good Evening Dinar Recaps,

"Glassnode on Wednesday reported that major US OTC platforms have run out of bitcoins, with only 40 coins remaining. This development shows an imminent supply shortage which directly signals the potential for a big price pump shortly."

Yes, Bitcoin is 15 years old and running out of supply. There are only 40 bitcoins left as of 3 days ago. At this point, the demand for Bitcoins are outpacing their supply.

When demand outpaces supply, the corresponding response for an asset is to rise in its value.

Historically, Bitcoin tends to lead the rally for all the crypto space. An upward movement is expected going forward inside our new digital economy.

A bull run in the crypto space will encourage digital adoption as this new asset class begins to form new price pressures going forward.

Remember, everything is being tokenized including Forex. Remember....   Coin Market Cap

© Goldilocks

~~~~~~~~~~

Goldilocks' Comments and Global Economic News Monday Evening 3-4-24

Good Evening Dinar Recaps,

"Glassnode on Wednesday reported that major US OTC platforms have run out of bitcoins, with only 40 coins remaining. This development shows an imminent supply shortage which directly signals the potential for a big price pump shortly."

Yes, Bitcoin is 15 years old and running out of supply. There are only 40 bitcoins left as of 3 days ago. At this point, the demand for Bitcoins are outpacing their supply.

When demand outpaces supply, the corresponding response for an asset is to rise in its value.

Historically, Bitcoin tends to lead the rally for all the crypto space. An upward movement is expected going forward inside our new digital economy.

A bull run in the crypto space will encourage digital adoption as this new asset class begins to form new price pressures going forward.

Remember, everything is being tokenized including Forex. Remember....   Coin Market Cap

© Goldilocks

~~~~~~~~~~

"Bitwise anticipates a surge in institutional investment into Bitcoin ETFs in the coming months as major financial institutions, known as “wirehouses,” start offering Bitcoin ETF trades to their clients."

A wirehouse is a full-service broker-dealer of any size. Although many broker-dealers are "independent" firms involved in broker-dealer services, others are subsidiaries of commercial banks, investment banks, or investment companies. They sell Securities such as spot Bitcoin ETFs for their clients leveling the playing field between the retail Market and Institutional Financing.

For this reason, the competition for gold through digital assets can now be obtained through anyone desiring to become a part of the new Financial System through these new additions to their portfolios.

This is expected to create a gold rush into the next economy for well over a decade. We are simply beginning a process of transformation that will change values in every sector of our Global markets going forward.   Crypto News   CoinTelegraph

© Goldilocks

~~~~~~~~~~

"Russia is testing digital asset payment technology as groundwork for a potential BRICS digital currency.

The move aims to reduce global dependency on the US Dollar, aligning  with BRICS’ de-dollarization efforts.

Digital currency trials are starting with China and Eurasian Economic Union countries, under Russia’s initiative."

Russia is making a move inside the new digital economy. They are testing their new payment system with digital assets formulating a pre BRICS currency launch.

Vladimir Putin is the current chairman for the BRICS Nations. One of the qualifications in belonging to the BRICS Nations is that countries have to back their economy by gold or other commodities. These new global economic initiatives are what is leading the drive towards a Global Currency Reset.

A new trading currency with a backing by gold for the BRICS Nations is rapidly becoming more than just a simple threat to the current Global Monetary System.

Russia is currently taking practical steps in lowering their dependence on the US dollar in trade among nations. And, these changes are affecting the current ratings of their currency. Enough so, that the FATF is currently re-rating their currency.

When a countries' currency is re-rated, it means they are currently in process of a revaluation inside their new currency values and mechanisms for the dissemination of these new values in trade. Yes, new exchange rates.

"The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. It sets international standards that aim to prevent these illegal activities and the harm they cause to society."

Look for the FATF to get more involved in the BRICS Nations as they set forth new trading mechanisms designed to enhance their group's local currency values through their new digital asset-based trading system.

This is a move from a pegged currency with the dollar to a free floating exchange rate determined by the markets. Gold adds value to currencies that have been devalued over the years and equalizes the playing field for each country involving themselves inside free-floating mechanisms.

Watch the water.

© Goldilocks
CryptoPolitan
FATF

Investopedia
Regulation Asia
Times of India

FATF Recommendations

~~~~~~~~~~

What is The Dodd Frank Act? | YouTube

~~~~~~~~~~

Dodd-Frank Act Update:

The National Institute of Standards and Technology released a revised version of its Cybersecurity Framework guidance detailing steps organizations can take to reduce cybersecurity risks, placing a greater priority on the role of corporate governance and supply chains in protecting sensitive data.
Dodd Frank Update

~~~~~~~~~~

China and Russia have almost completely abandoned the US dollar in bilateral trade as the push to de-dollarize intensifies | Business Insider

~~~~~~~~~~

The U.S. national debt is rising by $1 trillion about every 100 days | CNBC

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ZTX Ushers in Digital Real Estate Era | InvestorsObserver
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Ripple offers a fast, and cost-effective cross-border payment solution for banks and financial institutions globally. Ripple’s platform, Ripple Net, facilitates instant and transparent transactions, positioning itself as a more efficient alternative to traditional financial services.

Ripple is a blockchain-based digital payment network working to facilitate the transfer of value between different fiat currencies for its customers. XRP is the native cryptocurrency of Ripple.

CrowdWisdom

~~~~~~~~~~

Great Reset Watch: EU Parliament Approves 'Digital Identity Wallet' | Breitbart

~~~~~~~~~~

Tether’s USDT stablecoin hits historic $100B market cap | CoinTelegraph

~~~~~~~~~~

Follow Goldilocks' Roadmap

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Iraq Economic News and Points to Ponder Monday Afternoon 3-4-24

Iraq Economic News and Points to Ponder Monday Afternoon 3-4-24

Tlm724 Administrator Bondlady’s Corner

A Government Explanation For The Stability Of The Dollar Exchange Rates

Time: 03/04/2024 19:03:44 Read: 2,834 times  {Economic: Al-Furat News} The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, today, Monday, provided an explanation for the stability of the dollar exchange rates in the local market.

Saleh told {Al-Furat News} that: “As long as the trade in importing goods and services for the private sectors and the government or public sectors is financed at the official fixed exchange rate of 1,320 dinars per dollar.”

He added, "It is also carried out through methods of financing foreign trade through the national banking sector, at a rate of more than 95% of the total foreign trade, whether through the compliance platform and the window of the Central Bank of Iraq with regard to private import trade, or through opening documentary credits to finance governmental and private import trade as well."

Iraq Economic News and Points to Ponder Monday Afternoon 3-4-24

Tlm724 Administrator Bondlady’s Corner

A Government Explanation For The Stability Of The Dollar Exchange Rates

Time: 03/04/2024 19:03:44 Read: 2,834 times  {Economic: Al-Furat News} The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, today, Monday, provided an explanation for the stability of the dollar exchange rates in the local market.

Saleh told {Al-Furat News} that: “As long as the trade in importing goods and services for the private sectors and the government or public sectors is financed at the official fixed exchange rate of 1,320 dinars per dollar.”

He added, "It is also carried out through methods of financing foreign trade through the national banking sector, at a rate of more than 95% of the total foreign trade, whether through the compliance platform and the window of the Central Bank of Iraq with regard to private import trade, or through opening documentary credits to finance governmental and private import trade as well."

Saleh stated, “Therefore, the stability in the general level of prices, which is about 4% annually, expresses the state of stability of the exchange rate according to its official value, because the latter expresses the external value of money in the regular or official market.”

The local market has been witnessing stability for some time in the exchange rates of the dollar in the local market, which range between 150 thousand dinars to 149 thousand dinars for 100 US dollars. LINK

Central Bank: Iraqi Society Prefers To Use Cash In Daily Transactions

Ammar Hamad, Deputy Governor of the Central Bank of Iraq  Economy News – Baghdad   The Central Bank of Iraq announced today, Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while indicating that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.

Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, “The digital financial transformation in Iraq began with the localization of state employee salaries and the opening of bank accounts, the primary purpose of which is to use electronic payment in daily transactions, whether inside Iraq.” Or outside it.”

Khalaf added, “Iraqi society prefers to rely on cash in daily transactions, but the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank over the past year and it continues to encourage and activate electronic payment in Iraq by issuing many Among the laws, controls and instructions that encourage the use of electronic payment in Iraq.

He pointed out that "some ministries responded quickly to the directives of the Central Bank and the Iraqi government, especially the Ministry of Oil by making collections at gas stations and others via electronic payment, as well as the Passports Directorate, which obligated payment to be electronic, in addition to the General Traffic Directorate and other ministries." Stressing that "all this support gives a very strong and significant impetus to electronic payment."

He pointed out that "the Central Bank has been the only influential player for many years, as it has embraced the importance of digital transformation in most of its transactions, and spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for developing electronic payment in Iraq through the use of the best internationally approved systems and standards in this field." "   229 views 03/04/2024 - https://economy-news.net/content.php?id=41104

Iraq And The United States Are Discussing Measures Taken Against Iraqi Banks

The Ambassador of the Republic of Iraq to the United States of America, Nizar Al-Khair Allah, discussed the measures taken against Iraqi banks and attracting American energy companies to invest in the Iraqi market.

The Iraqi Embassy in Washington stated in a blog post on the (X) platform that “Ambassador Nizar Al-Khair Allah met with the Undersecretary of the Treasury for Terrorism and Financial Intelligence, Brian Nelson, to discuss the measures that were taken against Iraqi banks and their effects on the growth of the banking sector and government economic reforms.”

She added, "Ambassador Al-Khairallah also met with the US Assistant Secretary of State for Energy Resources Affairs, Jeffrey Payatt, and they exchanged views on ways to strengthen bilateral relations between Iraq and the United States," stressing that "the focus was on attracting American energy companies to invest in the Iraqi market and capture burning gas."

https://www.radionawa.com/all-detail.aspx?jimare=37565

Prime Minister's Office: If There Had Been Automation In Taxes, The Theft Of The Century Would Not Have Occurred

Deputy Director of the Prime Minister's Office, Ali Razouki  Money  and business  Deputy Director of the Prime Minister's Office, Ali Razouki, confirmed today, Monday, the immediate establishment of priorities for combating corruption, providing services, and economic reform, while indicating the intention to send about 1,000 students abroad this year.

Razouki said in an interview during the activities of the Al-Rafidain Forum, “The tasks of the Prime Minister’s Office are many and are distinguished by the performance of administrative leaders,” noting that “the ministerial curriculum is intensive.”

He added, "We have begun setting priorities, including combating corruption, providing services, and financial and economic reform, in addition to the issue of youth and providing special opportunities for them, in addition to working to send students on scholarship, and this year we will send nearly a thousand students."

He pointed out that "Baghdad has turned into a workshop and the office has teams to follow up on projects," noting that "some projects were launched in 2008 and were just ink on paper."

He continued, "Today we feel positive reactions from the citizen," noting that "the Prime Minister's Office was interested in cooperating with all ministries, setting priorities, and focusing on hospital projects that will see the light soon, and most hospitals are simulating development."

He continued, "Energies were directed towards the entrances to the cities, in addition to projects to relieve bottlenecks."

He pointed out that if there had been automation in taxes, the theft of the century would not have occurred, especially since we have taken important steps in digital transformation, such as issuing passports and visas.   140 views 03/04/2024 - https://economy-news.net/content.php?id=41102

 

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

 

Provoking Points to Ponder on Decisions 

What I emphasize is for people to make choices based not on fear, but on what really gives them a sense of fulfillment.  - Pauline Rose Chance

We lose the fear of making decisions, great and small, as we realize that should our choice prove wrong we can, if we will, learn from the experience.  - Bill W.

History is a stern judge.  - Svetlana Alliluyeva

I get a little angry about this highhanded scrapping of the look of things. What else have we to go by? How else can the average person form an opinion of a girl's sense of values or even of her chastity except by the looks of her conduct?  - Margaret Culkin Banning

You wouldn't want to be caught wearing cheap perfume, would you? Then why do you want to wear cheap perfume on your conduct?  - Margaret Culkin Banning

The difference between weakness and wickedness is much less than people suppose; and the consequences are nearly always the same.  - Lady Marguerite Blessington

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