Zimbabwe launches new gold-backed currency - ZiG

Zimbabwe launches new gold-backed currency - ZiG

By Shingai Nyoka,BBC News, Harare

Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold".

It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years.

Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set at a market-determined exchange rate.

The ZiG replaces a Zimbabwean dollar, the RTGS, that had lost three-quarters of its value so far this year.

Annual inflation in March reached 55% - a seven-month high.

Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency.

However, the US dollar, which accounts for 85% of transactions, will remain legal tender and most people are likely to continue to prefer this.

The new ZiG banknotes come in denominations of between 1 and 200.

Coins will also be introduced to overcome the shortage of US coins, which has seen people receive change in sweets, small chocolates and pens.

Mr Mushayavanhu said the new currency was being rolled out with immediate effect and banks must convert current Zimbabwe dollar balances to the ZiG.

He committed to ensuring that the amount of local currency in circulation was backed by equivalent value in precious minerals - mainly gold - or foreign exchange, in order to prevent the currency losing value like its predecessors.

Zimbabweans have a historic mistrust of the central bank, dating back to 2008, when it was printing Z$10tn notes while inflation had run out of control.

It then abolished its own currency and for many years only used foreign banknotes such as the US dollar and the South African rand.

In late 2016, the body introduced a new currency called the bond note that was backed by the US dollar loan facility. The then-central bank governor John Mangudya vowed it would remain on a par with the US dollar. But the bond note crashed when the government began printing excess money.

Promises have now been made by the central bank's new governor that overprinting will not be allowed to happen again.

But public reaction on Friday to the latest currency reveal has been subdued.

"We now end up in the same place where we started - where assurances are being given to the market that the government will live within its means," economist Godfrey Kanyenze told the BBC.

"The political culture has not changed - the critical point is discipline on the part of the authorities."

The announcement of the new currency comes as the country is grappling with the effects of a serious drought, which has destroyed half of the country's crop of the staple food, maize.

https://www.bbc.com/news/world-africa-68736155

Zimbabwe and Indonisian News posted by TNT Members 4-5-2024

TNT:

Harambe:  Zimbabwe central bank says it has assets worth 2.5 tons of gold | Voice of America 4/4/24

On the eve of the anticipated rollout of a new gold-backed currency, Zimbabwe's central bank announced Thursday that it has the equivalent of 2.5 tons of gold reserves.

Speaking in Harare after seeing the assets of the Reserve Bank of Zimbabwe, John Mushayakarara, the new bank’s governor, told President Emmerson Mnangagwa – whom he addressed as H.E., for his excellency – that the bank’s balance sheet was healthy, with reserves of gold and other minerals worth $175 million.

“I have taken over the control of the central bank," Mushayakarara said, "and one of the things I had to do upon taking over was to verify the assets that the central bank holds. And this morning I showed H.E. the gold that is in the vaults, and I can confirm that we have in the vaults at the central bank 1.1 tons of gold.

"We also have other minerals – diamonds and so forth. If converted to gold, [they would] be equal to 0.4 ton of gold. We have other gold which is held offshore. It is worth 1 ton of gold.”

On Friday, Mushayakarara is expected to announce the introduction of a gold-backed currency to replace the worthless local dollar, which is currently trading at around 30,000 to one U.S. dollar and, unlike the South African rand, does not circulate in neighboring countries.

This was the first time in recent memory that the central bank gave an accounting of its gold and mineral assets. Mnangagwa said he was happy to physically see the assets that outgoing Reserve Bank of Zimbabwe Governor John Mangudya handed over to Mushayakarara.

Responding to a question from journalists about whether the country had enough gold to back its anticipated new currency, Mnangagwa said, “Let me assure you that my government does not work on rumors. We work on facts. Rumors can continue flying, but you have been able to come here and see facts for yourselves. So you should compare the facts you see today and the rumors you hear in the streets.”

The press conference generated much debate on social media, with some saying the country’s gold reserves were being looted. One businessman allied with the ruling Zanu-PF party, Pedzisayi Sakupwanya, said he delivered 13 tons of gold to the central bank last year.

Zimbabwe has introduced and abandoned at least five currencies since independence in 1980, all of which lost value to become almost worthless. It remains to be seen how well the new gold-backed currency is accepted by the public, and how it trades against the dollar and the South African rand.

 https://www.voanews.com/a/zimbabwe-central-bank-says-it-has-2-5-tons-of-gold-reserves/7557328.html

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Tishwash:  could this be smoke before the fire? hmmmmm

Pictures of 'new Indonesia banknotes' shared online not legal tender: central bank

Indonesia's central bank have considered for years to change the country's banknotes by dropping three zeroes from the rupiah, but a video viewed hundreds of thousands of times online does not show new money in circulation in March 2024. Images in the clip appearing to show banknotes were taken from a January 2013 news report that illustrated what the new rupiah could look like. They were not legal tender, according to Bank Indonesia.

The video, which appeared to show three banknotes with the value of 20, 50 and 100 rupiah, was viewed more than 43,000 times in a TikTok post from March 16, 2024.

The post claimed to share the "latest" update from Bank Indonesia, the central bank that has sole authority to issue money in the archipelago. The Indonesian-language caption said in part: "New Money 2024".

A male narrator could be heard in the video saying: "Bank Indonesia officially issued new money or rupiah notes of 1,000 to 100,000 rupiah." He added the central bank removed three zeroes in the new money.

Screenshot of the false post, taken on March 27, 2024

Indonesia's finance ministry and the central bank have for years been considering to "simplify" the national currency by removing three zeroes from the rupiah in a practice called redenomination (archived links here and here).

The same video was viewed more than 771,000 times in similar posts on TikTok and SnackVideo here and here.

The image of the purported new money also previously circulated on Facebook in 2020.

However, the video shows illustration designs for Indonesian money presented in 2013.

Not legal tender

Bank Indonesia clarified in a post on social media platform X on March 17, 2024 that the video was a "hoax" (archived link).

"The video circulating is definitely not from Bank Indonesia," it said. "The visuals presented in the video are definitely not the official rupiah circulated by Bank Indonesia."

The bank added it had not started the redenomination process for the rupiah. "The redenomination implementation still needs to see the right momentum and it will not be carried out in the foreseeable future," it said.   link

"Tidbits From TNT" Friday Morning 4-5-2024

TNT:

Tishwash:  The number of banks participating in the project is steadily increasing, including BBAC, IIB, CIHAN, RT, and NBI, all of which are recognized and approved by the Central Bank of Iraq.

1000 ATMs will be installed by end of year across all provinces in KRG

The registration process for Kurdistan Regional Government (KRG) salaried employees in the "My Account" project continues, with the number of registrations reaching 260,000 people. Additionally, 153,000 cards have been issued to those registered.

Approximately 1,000 ATMs will be installed across all provinces, districts, and areas of the Kurdistan Region of Iraq (KRG) by the end of 2024, as announced by the Kurdistan Regional Government (KRG) Media and Information Office on Thursday.

The number of banks participating in the project is steadily increasing, including BBAC, IIB, CIHAN, RT, and NBI, all of which are recognized and approved by the Central Bankof Iraq.

As a pilot initiative last year, employees of Erbil Maternity Hospital received their salaries through "My Account."

At the conclusion of last year, the colleges of arts, agriculture, and science at Salahaddin University began receiving salaries through "My Account."

Some of the project's services include:

1. Access to hundreds of ATMs to withdraw all user funds at once for free.

2. Available equipment for 24-hour use, allowing employees to withdraw money at their convenience.

3. Access to various bank loans and advances.

4. Use of debit cards for online purchases and Point of Sale (PoS) transactions.

5. Secure and safe money transfers domestically and internationally.

6. Access to the bank's mobile application to monitor account activity and receive mobile notifications upon salary deposits.  link

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CandyKisses: Sudani's visit to Washington. Iraqi insistence on removing the occupier

Information / Baghdad...

Amid assurances that there is an active and serious move by the government and its negotiating delegation with the so-called international coalition to end its presence in Iraq, the Iraqis insist on removing these forces or returning to resisting the American occupier.

The visit of Prime Minister Mohammed Shia al-Sudani to Washington may be a gateway to ending the US combat presence in Iraq or it may fail if Washington insists on keeping its forces on Iraqi soil, which will give the green light to the Islamic resistance to Resume its operation against the foreign occupier.

In order to explain the most important files that the Sudanese will carry with him to Washington, MP for the Sadiqoun bloc, Muhammad Karim, says that "the prime minister will discuss the file of arming the army, and the development of Iraq's air defenses, In addition to the file of removing the US combat forces.

Karim added that "America will try to impose some files during the next visit, while the governments enjoy political and parliamentary support in moving towards making fateful decisions during the negotiating round, which will begin in the middle of next month, although the government has come a long way in negotiations through the joint committees formed by the two parties."

On the other hand, former MP Ahmed Ali stressed that "the attacks carried out by America on the headquarters of the Iraqi factions represent a violation of the agreement between Baghdad and Washington."

He told Al-Maalouma that "the factions announced their commitment to government decisions to resort to a diplomatic solution to remove US forces."

He pointed out that "the government is past in the file of the exit of Americans from Iraq, and the visit of the Sudanese has put this file among the priorities in the talks that will be held with Biden."

In the same context, Hussein al-Karawi, head of the organizing body of the popular movement for the Belt and Road, said that "the experience with America confirms that its forces will not leave Iraq peacefully.

Al-Karawi told Al-Maalouma that "Washington seeks not to empty the Iraqi arena of the military presence of its forces, so these forces will not leave Iraq without the resistance carrying out jihadist actions to end their presence on Iraqi territory and force them to leave."

Iraqi Prime Minister Mohammed Shia al-Sudani said he wanted a "quick and ordered exit" of the US-led international coalition forces from Iraq amid mounting demands that US forces do not remain in Iraq.

"Let's agree on a time frame (for withdrawal) that is quick so as not to prolong the existence and the attacks continue," al-Sudani said in an earlier interview with Reuters news agency, noting that the only way to avoid a regional escalation is to stop the war in Gaza.

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Tishwash:  After Saudi Arabia, Iraq ranks second among the five oil-producing countries in the region - Urgent

BP statistics in the last two decades show that the tightening of sanctions against Iran and the increase in Iraqi oil sales have pushed Iraq to assume the position and market of Iranian oil in the region.

When talking about the Iranian economy, oil is considered one of the most important variables that must be examined. This black gold has affected the economy such that with the flood of its sales in global markets, the Iranian economy is witnessing great prosperity, and with the decline of its sales, it is on the path to recession.

Studies have previously pointed out the importance of oil revenues and the difference in oil sales statistics from three reliable sources, and the reason for this difference has been discussed in detail.

Iraq, Saudi Arabia, the Emirates, and Qatar are leading countries in the oil industry in the region, similar to Iran. Today, if we want to see the performance of Iranian oil sales compared to these countries, we must take a look at the oil sales statistics and examine them carefully.

This report, prepared by the “Aquairan” economic website, reviews Iran’s share of oil sales in the past two decades.

Iraq is at the forefront

Oil statistics provided by British Petroleum (BP) show that since 2004, Iran has become the second oil exporting country among these five oil countries after the Kingdom of Saudi Arabia. This year, Saudi Arabia’s oil exports reached 6 million and 800 thousand barrels per day, while it reached Iran's exports are 2 million and 700 thousand barrels.

At that time, Iraq was the fourth largest oil exporter among these countries and sold only 1.5 million barrels of oil per day.

Over time, Iran continued to maintain its position among these five countries until 2011, but Iraq's exports did not remain constant as was the case in Iran, but rather rose to reach 2 million and 400 barrels of oil per day.

In 2011, with the beginning of the series of oil sanctions on Iran, Iranian oil sales suddenly suffered a severe blow, and this blow continued, even after the nuclear agreement in 2015, as Iraq ranked second in the region and Iran fell to fourth.

The positive impact of the JCPOA on the Iranian oil market contributed to Iran’s oil export position rising by one point among the five countries and reaching third place in 2017, but this success was short-lived. With Trump's accession to American power and his withdrawal from the nuclear agreement, as well as the beginning of the Corona pandemic, Iran declined again in 2021, and ranked third with a daily export of 1.9 million barrels.

This comes at a time when, in that year, Iraq exported 3.4 million barrels of oil per day and ranked second after Saudi Arabia among the five oil-producing countries in the region.

The increase in Iraq's oil sales and the tightening of oil sanctions on Iran in these two decades caused a change in the position of Iran and Iraq in oil sales, and Iraq was able to seize second place.  link

Mot .. What Can I Say! -- They is OUt There!!!!

Mot:  ..... I Still Don't Believe Her!!!

Goldilocks' Comments and Global Economic News Thursday Evening 4-4-24

Goldilocks' Comments and Global Economic News Thursday Evening 4-4-24

Good Evening Dinar Recaps,

"On April 1, ISDA submitted comments on the Commodity Futures Trading Commission’s (CFTC) notice of proposed rulemaking on requirements to establish an Operational Resilience Framework for Futures Commission Merchants, Swap Dealers and Major Swap Participants, which was published in the Federal Register on January 24, 2024."

The International Swaps and Derivatives Association examines risks and resilience inside the derivatives Market. There were three stages to go through when being considered for implementation in government protocols. The ISDA is now on their final stage/phase.

All comments and questions have been turned into the CFTC who will govern and process swap dealers going forward. At this time, all of the information gathered in research and comment phases are now going to be put before the Operational Resilience Framework.

The ORF will take their collected data, organize it, and bring it before the Market Risk Advisory Committee Meeting on April 9, 2024.

If passed by the CFTC, they will be able to move forward with new guidelines governing and directing our new digital economy inside the digital derivative markets that includes foreign currency exchanges. ISDA   CFTC 

© Goldilocks

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"Project Agorá (Greek for "marketplace") brings together seven central banks: Bank of France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England and the Federal Reserve Bank of New York."

Project Agorá is currently working with Central Banks and Banking sectors to test and explore the use of tokenization in cross-border payments. This will be done in partnership with a large group of private investors inside The Institute of International Finance.

The IIF is comprised of commercial and investment Banks, asset managers, insurance companies, professional services firms, EXCHANGES, sovereign wealth funds, hedge funds, Central Banks, and Development Banks.

This pretty much covers most of the international payment sources from around the world. There are three major requirements that will be explored in cross-border payments:

"Project Agorá will explore how tokenisation of wholesale central bank money and commercial bank deposits on programmable platforms can improve the monetary system.

The project will explore how tokenisation and smart contracts could enable functionalities and transactions that are not viable today.

The primary area of exploration will be to increase the speed and integrity of international payments while lowering costs."

As you can see, we have a lot of conversations taking place around cross-border payments which include foreign currency exchanges that are still in development.

As we proceed further into the global regulation of crypto assets and markets, these major Financial Institutions from around the world will be exploring and placing their input into the final regulations taking place at the end of May in Europe.

If this date is not moved back, we will be looking at moving forward on an International level with our new digital economy.   BIS 1    BIS 2   IIF

© Goldilocks

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A RESURFACED speech from Chinese President Xi Jinping suggests policymakers may start trading government bonds to regulate liquidity in the market, pushing the nation towards strategies used by the US Federal Reserve and other major central banks around the world.

Xi’s call for the People’s Bank of China (PBOC) to “gradually increase the buying and selling of government bonds” in its open market operations sparked a frenzy of speculation among traders last week. The remarks – made in October but publicised recently in a new book and newspaper article – may hint at a policy pivot for a central bank that has not made a significant bond purchase since 2007.

“Central banks in other countries generally use government bonds, or sovereign credit, as a basis to issue money,” said Liu Lei, a researcher at the National Institution for Finance and Development, a state think tank advising government agencies in China. “This is a necessary path for China’s central bank and monetary system to move into modern times.”   Business Times

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China is beginning to signal a policy change in the buying and selling of government bonds. They are beginning to indicate the desire to sell their bonds to prop up their currency which is a tactic the US currently utilizes.

Japan is also considering this tactic, and other countries will witness the benefits of these changes.

One thing is for certain, it will change the dynamics of trade between countries going forward. This move will indicate a global shift in the way many countries will begin utilizing the same measures that the US does in trade and banking within their own countries.

When we see this trend begin to take place, it will begin putting price pressures on exchange rates going forward and many will begin to move into real values.  Investopedia  Linkedin   Business Times

© Goldilocks

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Great expectations: How treasury bonds and interest rate changes impact currencies |  OFX (US)

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"This bank will issue bonds ( Enjaz ) on behalf of the Ministry of Finance."

👆 Do you see what's going on here? Someone is about to sell government bonds to prop up their currency. A pattern is forming among countries.  CBI

© Goldilocks

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The East is beginning to move/control the price of gold over the dollar. Is gold about to decouple from the dollar?

And, Ripple is launching their own stablecoin as a bridge asset. Ripple is a liquidity coin that can bridge payments between two countries' currencies.

Ripple is capable of moving the Central Bank Digital Coin/Gold from one country to the next.

Is Ripple the next World Reserve Asset backed by gold? In the new Financial System, "All roads lead to Digital Gold, and Digital Gold will set us free."    CNBC

© Goldilocks

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"All roads lead to Digital Gold, and Digital Gold will set us free."

© Goldilocks

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IQD REER/NEER Exchange Rates at $1.00 USD | Youtube

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Where the U.S. Dollar May Be Headed in 2024 | Charles Schwab

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Apple Exploring 'Mobile Robot' That 'Follows Users Around Their Homes' - MacRumors

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Is The Silver Market Breaking Out? - InvestingHaven

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Blockchain firm Ripple said it's launching a U.S. dollar stablecoin, marking an entry into the $150 billion stablecoin market. The move will pit Ripple against stablecoin giants Tether, which is behind the largest stablecoin UDST, and Circle, the issuer of USDC.   4 hours ago NBC Connecticut

👆 This is very important, and I am looking into it with some of my developer friends. It is a Historical Moment.

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Shanghai, China 🇨🇳 trading Gold at $2,368 and Silver at $29.29 an ounce | Twitter
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TABLES TURNED: Yellen Is Back To China As the US Feels Threatened by China's Manufacturers | Youtube

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Iraq Economic News and Points to Ponder Thursday Afternoon 4-4-24

Iraq Economic News and Points to Ponder Thursday Afternoon 4-4-24

Tlm724 Administrator Bondlady’s Corner

Finance Announces The Offering Of A New Issue Of Government Bonds For Public Subscription

Thursday 04, April 2024  Economical Number of readings: 251  Baghdad / NINA / The Ministry of Finance announced, today, Thursday, the offering of a new issue of government bonds for public subscription.

A statement from the ministry stated, “The Public Debt Department in the Ministry of Finance, in cooperation with the Central Bank of Iraq, announced the offering of a new issue of government bonds for public subscription under the name Enjaz Bonds,” indicating that “Type of bonds: government bonds denominated in the Iraqi dinar.”

The statement explained, “The categories offered are:

- A bond in the category of (500,000) dinars, for a period of two years, with an annual interest of 6.5%, paid every six months.

- A bond in the category of (1) million dinars, for a period of 4 years, with an annual interest of 8.5%, paid every six months.”

He continued, “Subscription date: period from April 15 to May 15, 2024,” explaining that “the method of subscription is that purchase applications are submitted to one of the bank branches approved by the Central Bank of Iraq, accompanied by the original identification documents, and after that the bank sends the application with the purchase amount.”

To the Central Bank via the RTGS electronic payment system on the same day of purchase, and in return, the buyer will receive a receipt for the purchase amount he paid until the bond is prepared, and after a period not exceeding a week, the buyer brings the receipt to the same bank to receive the bond.”

According to the statement, the ministry called on “all citizens, investors and companies to participate in subscribing to this issuance of government bonds,” noting that “the bonds offered are tradable on the Iraqi Stock Exchange.”

She pointed out that “the advantages of subscribing to government bonds are:

Guaranteed return: The government is committed to paying the annual interest and the value of the bond when it matures.

Safe investment: Government bonds are considered one of the safest investments, as investors enjoy the government’s guarantee.

Contribution to the development of the national economy: The subscription funds contribute to Financing economic development projects and achieving financial stability in the country.”/End 2 

https://ninanews.com/Website/News/Details?key=1119462

External Remittances At The Central Bank Of Iraq Auction Increased By 98%

Economy  Thursday, April 4, 2024 2:52 PM  Baghdad/National News Center External remittances at the Central Bank of Iraq auction increased by 98% today, Thursday, at the expense of cash sales, to reach $246 million.

Today, during its auction for buying and selling the US dollar, the bank sold 253 million, 74 thousand and 268 dollars, covering it at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Most of the bank's dollar sales went to strengthening balances abroad in the form of transfers and credits, which amounted to 246 million 964 thousand and 268 dollars, an increase of 98% over cash sales amounting to 6 million and 710 thousand dollars.

He pointed out that the number of banks that purchased cash dollars reached four banks, while the number of banks that responded to requests to enhance balances abroad reached 17 banks, and the total number of exchange and brokerage companies participating in the auction was 40 companies.

https://nnciraq.com/252368/

Oil Prices Rise With Indicators Of Economic Growth In America

Energy   Economy News _ Baghdad  Oil prices rose in early Asian trading, Thursday, amid fears of supply shortages as major producers continue production cuts, along with indicators of economic growth in the United States, the world's largest oil consumer.

Brent crude futures for June rose 15 cents, or 0.2 percent, to $89.51 per barrel at settlement by 00:37 GMT.

US West Texas Intermediate crude futures for May also increased 15 cents, or 0.2 percent, to $85.59 per barrel.

The June Brent contract and the May West Texas Intermediate crude contract recorded gains over the past four days and closed on Wednesday at the highest level since the end of October.

Oil prices rose after Ukrainian attacks on Russian refineries led to a reduction in fuel supplies, and amid fears that the war between Israel and the Palestinian Islamic Resistance Movement (Hamas) in Gaza may extend to include Iran, which could lead to disruption of supplies in the Middle East region.

Senior ministers of the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, at a meeting held on Wednesday kept oil production policy unchanged and urged some countries to strengthen compliance with production cuts.

The meeting stated that some members will compensate for the increase in supplies in the first quarter.

Views 61  04/04/2024 - https://economy-news.net/content.php?id=42177

The Securities Commission Calls On The Central Bank To Launch Lending Initiatives

Economy News – Baghdad  Chairman of the Securities Commission, Faisal Al-Haims, called on the Central Bank to launch development initiatives to support the real estate, industry and agricultural sectors.

Al-Haims said in a television interview followed by “Al-Iqtisad News” that he “chaired a committee formed by the Prime Minister, to provide solutions to banks that are prohibited from using the dollar in their daily transactions,” noting that the committee had submitted recommendations to the Ministerial Economic Council that included launching development lending initiatives by The Central Bank, and activating the national exchange for banks that are prohibited from using the dollar.”

He added, "The recommendations also included the use of gold and other commodities in settling financial transactions between banks prohibited from using the dollar and foreign banks."

Views 84  04/04/2024 - https://economy-news.net/content.php?id=42185

Sudanese Advisor: Iraq Is Within The Safe Range Countries In Terms Of Paying Foreign Debts

Economy | 04:32 - 04/04/2024  Mawazine News - Baghdad,  the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed today, Thursday, the reasons for reducing annual allocations to pay off foreign debts, while indicating that Iraq is among the countries in the safe range in terms of debt repayment.

Saleh said, “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product, according to estimates, does not exceed 20 percent.” While the global measure of the debt-to-GDP ratio allows up to 60 percent.

He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.”

 This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.

He added, "This matter is reflected in Iraq's high creditworthiness in repaying its debts to external creditors and its commitment to repayment since the Paris Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”

He noted that "the Paris Club Agreement in 2004 dropped more than 100 billion dollars of Iraq's pre-1990 debt after Iraq obtained a discount on its debts at that time, which was 80 percent and more, and only a little of the remnants of those debts remained after it was removed.

" The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually.” https://www.mawazin.net/Details.aspx?jimare=245311

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

Provoking Points To Ponder On Failures and Mistakes

Life, like war, is a series of mistakes, and he is best who wins the most splendid victories by the retrieval of mistakes.- Frederick W. Robertson

A man who has committed a mistake and doesn't correct it is committing another mistake.

- Confucius

The great virtue of man lies in his ability to correct his mistakes and to continually make a new man of himself.- Wang Yang-Ming

It is only error in judgement to make a mistake, but it shows infirmity of character to adhere to it when discovered.- Christian Bovee

It is human to err, but it is devilish to remain willfully in error.- Saint Augustine

Intelligence is not to make no mistakes, but quickly to see how to make them good.- Bertolt Brecht

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

http://famousquotesandauthors.com/quotes_by_topic.html

Thursday "Iraq News" " Posted by TNT Members 4-4-2024

TNT:

Tishwash:  Iraq is no where on this list  but in their news they added themselves hahaha are they trying to tell their citizens something? Hahaha

Topped by the Kuwaiti dinar... Iraq is among the strongest currencies in the world

The strength of a currency is determined based on various factors, including interest rate differences and terms of trade. What will be the strongest currencies in the world in 2024?

The Techopedia website published a classification of the world's strongest currencies against the US dollar, and the site stressed the importance of various economic indicators and geopolitical tensions in determining the currency exchange rate.

Currency strength is the relative purchasing power of the currency compared to other currencies, and the US currency was adopted in the classification as a standard. According to the site, 3 Arab currencies topped the rankings.

Below are the 10 strongest currencies in the world (based on data from March 27, 2024): link

CandyKisses:  Dollar falls again against the dinar in Baghdad and Erbil

Shafaq News / The exchange rates of the US dollar fell, on Thursday, in the markets of Baghdad, and in Erbil, the capital of the Kurdistan Region.

The correspondent of the Shafaq News Agency said that the dollar prices fell with the opening of the Al-Kifah and Al-Harithia stock exchanges to record 147,100 dinars for every 100 dollars, while it recorded on Wednesday 147,650 dinars for every 100 dollars.

Our correspondent pointed out that the selling prices in exchange shops in local markets in Baghdad fell, as the selling price reached 148,000 dinars, while the purchase amounted to 146,000 dinars per 100 dollars.

In Erbil, the dollar also recorded a decline in exchange shops, with a selling price of 146,900 dinars against the dollar and the purchase price of 146,800 dinars against 100 dollars.

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Tishwash:  Al-Sudani informs the framework of the reasons for his visit to Washington

 Iraqi Prime Minister Muhammad Shiaa Al-Sudani informed the Shiite coordination framework of the reasons for his visit to Washington, most notably the arrangement of the bilateral relationship between Iraq and the United States, according to what a leader in the framework said on Thursday.    

The leader of the framework, Amer Al-Fayez, told Shafaq News Agency that the coordination framework held a meeting yesterday, Wednesday, in the presence of Prime Minister Muhammad Shiaa Al-Sudani, during which the latter’s visit to the United States of America and the file of electing the Speaker of the House of Representatives were discussed.

He added that the Sudanese presented during the meeting the reasons for his visit to Washington, and that the purpose of the visit was to arrange the bilateral relationship between Iraq and the United States after the departure of the coalition forces, as discussions are now taking place between the joint military committees to arrange and discuss the mechanism for the exit of forces from Iraq.

Al-Fayez explained that Iraq is keen, at the same time, to maintain a friendly relationship with the United States, which is in the interest of both countries in the political, economic and security aspects, as well as in the field of training and military expertise.

He stressed that the visit comes for cooperation between Iraq and the United States, and that Al-Sudani will accompany with him during his visit a number of ministers, members of the House of Representatives, and businessmen for the purpose of making this visit a success, and arranging the bilateral relationship between Iraq and the United States.

He stated that during his visit to Washington, Al-Sudani will focus on developing economic relations between Iraq and the United States.

Iraqi Prime Minister Muhammad Shia al-Sudani is scheduled to visit Washington to meet with US President Joe Biden on April 15, in his first visit since assuming office in October 2022. ink

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

Tishwash:  Adviser to the Prime Minister: Iraq is within the safe range countries in terms of paying foreign debts

Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the reasons for reducing annual allocations to pay off foreign debts, while noting that Iraq is among the countries in the safe range in terms of debt repayment.

Saleh said to the Iraqi News Agency (INA): “According to international standards in calculating the ability of the national economy to bear the burden of external debt, Iraq is among the group of countries in the safe range in terms of the global standard for the ratio of the external debt stock,” indicating that “the gross domestic product According to estimates, it does not exceed 20 percent, while the global measure of the debt-to-GDP ratio allows up to 60 percent.

He explained, “Given Iraq’s regularity in repaying its external debts due annually, of which only approximately 20 billion dollars remain, the annual allocations to pay external debts through the federal general budget allocations have begun to show a clear decline and decrease in the amount of external debts due, and this has been reflected.”

 This is in the 2024 budget tables regarding allocations for external debt payments, compared to the 2023 budget tables, with a difference of decrease that may exceed a billion dollars.

He added, "This matter is reflected in Iraq's high creditworthiness in repaying its debts to external creditors and its commitment to repayment since the Paris Club Agreement in 2004 until the present. These are annual financial allocation mechanisms whose installments and interest are paid on a regular basis through the annual general budget, and they are decreasing. This means that the external debt gap is heading towards shrinking and then almost disappearing.”

He noted that "the Paris Club Agreement in 2004 dropped more than 100 billion dollars of Iraq's pre-1990 debt after Iraq obtained a discount on its debts at that time, which was 80 percent and more, and only a little of the remnants of those debts remained after it was removed." The remainder of it has been scheduled and is paid annually according to a precise and regular accounting mechanism on the part of Public Finance and the Central Bank of Iraq, and the continuous decrease in its allocations is demonstrated by the amount of the decrease in the annual allocation of external receivables from the debts that must be paid and their waiver annually   link

Tishwash:  The Sudanese directs to reject any delay or delay in the development road project.. and an Iraqi delegation visits Europe

Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixth meeting of the Supreme Committee for the Development Road, during which the latest executive steps were followed up and the procedures related to the project continued to be completed, and ways to resolve controls and instructions related to customs, tax and transit tariffs were discussed, within Project management and operation system.

The meeting also witnessed discussion of the tasks of the diplomatic delegation that will visit the European Union countries, in coordination with the Turkish side, within the route of the stations related to the project. The current position of expropriations related to the route of the road was also reviewed, and ensuring the removal of any technical or legal conflicts from all sections.

During the meeting, the Prime Minister stressed the importance of continuous coordination between the relevant authorities, ministries, relevant formations and governorates, on the path of the road, and that these parties as a whole deal with the development road project as a special priority for the Iraqi economy, and that they work to reduce time, overcome routine obstacles and bypass Obstacles. 

Al-Sudani also renewed his previous directives to reject any case of delay or delay, given the exceptional importance posed by the path of development, its pivotal position and its connection to all economic development sectors, and the government’s plans to achieve a comprehensive future economic renaissance.

The meeting also reviewed the progress rates achieved in the Al-Faw Grand Port project, its five berths, and the conformity of the work progress with the implementation schedule.   link

Goldilocks' Comments and Global Economic News Thursday AM 4-4-24

Goldilocks' Comments and Global Economic News Thursday AM 4-4-24

Good Morning Dinar Recaps,

Zimbabwe has set its sights on joining the New Development Bank (NDB), an institution established by the BRICS economic bloc. Persistence Gwanyanya, a prominent economist and member of the Reserve Bank of Zimbabwe’s monetary policy committee, confirmed the country’s application in a recent interview with The Herald.

“We have applied to join the New BRICS Development Bank,” Gwanyanya said. He expressed optimism about Zimbabwe’s application, citing support from BRICS members Brazil, Russia, and South Africa.

Gwanyanya clarified that Zimbabwe’s pursuit of NDB membership does not preclude its aspirations to join the BRICS alliance itself. “Zimbabwe, like many African nations, is committed to achieving sustainable economic growth and transformation through continental integration,” he explained. “We value our collaboration with BRICS partners in fulfilling our market integration goals.” Daily News Egypt

~~~~~~~~~

The BRICS alliance may be preparing a big announcement at the upcoming summit. In fact, with more interested nations awaiting invitations, all eyes will be on which nations will receive formal invitations to join the newly expanded BRICS+.

Nations looking to ditch the US dollar and join the growing bloc hope the summit will also include talks on enlargement.   Slobodenpecat

~~~~~~~~~

MOSCOW, April 3 2024

"Russia's finance ministry said on Wednesday that it would more than double its purchases of foreign currency and gold in the month ahead, thanks in part to higher than expected income tax receipts."

Gold is an indicator of the health in a countries' economic system. In a free market system, gold is seen as a currency.

Through accumulating foreign assets, a central bank can level off the contraction in consumption following a sudden stop in capital flows.

If you have been paying close attention to what we have been talking about the last few months, you know what this article is talking about and what it means.

Russia is preparing for a currency intervention, but they are not the only country doing the same. Currency interventions are on the way, and countries are preparing for this shift.

Countries utilize this particular mechanism in resetting the values of world currencies.

Governments often try to influence their exchange rates through the buying and selling of their currencies among other countries.

Governments and Central Banks participate in these exchanges to determine a manageable exchange rate.

The accumulation of gold by various countries' Central Banks will create new values as they are exchanged to justify new price actions going forward.  Market Screener   Open Lib   Oreilly

Look out. Here we come.

© Goldilocks

~~~~~~~~~

When a country buys gold, they are adding net worth to the value of their own currencies.

Through the act of trading currencies with added value to their own currencies (revenue) inside the central bank backed by gold, exchanging them with other foreign currencies solidifies new price patterns.

Foreign currency exchanges become a way of securing these new price patterns on the market and inside the banking system.

© Goldilocks

~~~~~~~~~

Everyone wants to know when an RV will take place. ASK THE MARKETS.

© Goldilocks

~~~~~~~~~

Just a reminder my friends. There may be higher sources out there beyond Isaac, but we don't go until he does.

© Goldilocks

~~~~~~~~~

Chase Launches Chase Media Solutions, a New Digital Media Business, Connecting 80 Million U.S. Consumers with the Brands They Love | Chase Media

~~~~~~~~~

When MICA completes regulations on May 28th, 2024, the new Digital Economy will begin moving into real values.

© Goldilocks

~~~~~~~~~

The global bitcoin mining company will harness wind and solar energy from West Texas to expand its operations. | Bitcoin Magazine

~~~~~~~~~

Follow Goldilocks' Roadmap

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"Tidbits From TNT" Thursday Morning 4-4-2024

TNT:

Tishwash:  Benni defines the main point as Washington's economic hegemony

A member of the Nebna Alliance, Ali Al-Zubaidi, confirmed that ending American economic hegemony lies in the government’s move towards ending the deposit of oil selling money in the Federal Bank, adding that it will enable the government to choose the currency in which it is sold.

Al-Zubaidi said in an interview with the Maalouma Agency, “Freedom from the restrictions of the dollar will give confidence to the Iraqi currency, in addition to tighter control over the economic movement,” noting that “the main problem is imposing the deposit of oil money in the American bank.”

He continued, "The number of members of the BRICS system has reached approximately 30 countries, and this constitutes a threat to the US dollar in itself," pointing out that "its new currency will be circulated in all these countries that constitute a large part of the global economy."

Al-Zubaidi concluded his speech: “Washington’s hegemony will not last long in light of the global estimates of economists,” noting that “the end of American economic hegemony lies in the government’s move towards ending the deposit of funds for selling crude oil in the Federal Bank.”

In an interview with the Maalouma Agency, a member of the coordinating framework, Ali Hussein, called on the government to seek to find alternatives and take the step of liberating the country from the dominance of the dollar and the continuing American sanctions, while he stressed that Iraq’s move towards lifting the restrictions of the US Federal Bank is a must. link

Tishwash:  When will Iraq get rid of the restrictions of “Uncle Sam”.. Washington shackles Iraq to the federation and a “BRICS” bomb is coming

Popular and political calls are escalating to end the American hegemony it imposes on the Iraqi economy by enforcing the deposit of funds from the sale of crude oil in the Federal Bank on the one hand, and continuing the dollar crisis through sanctions issued on banks, which have reached more than 30 banks.

The first stage of getting rid of the restrictions imposed on Iraq is to strive to achieve two basic points, the first of which is to end the deposit of money in the Federal Bank and send it directly to the Central Bank. The second is to seek to join the BRICS countries that will issue a currency that will be like an atomic bomb for Uncle Sam’s currency. . 

*Editing step!

Speaking about this file, a member of the Al-Fatah Alliance, Ali Hussein, calls on the government to seek alternatives and take the step of liberating the country from the dominance of the dollar and the continuing American sanctions, while stressing that Iraq’s move towards lifting the restrictions of the US Federal Bank is a must. 

Hussein said in an interview with the Maalouma Agency, “It will be a bold step, but it will succeed if the atmosphere is created and contracts are made with alternative international banks,” noting that “it is necessary to bring in companies from international countries that do not deal in the US dollar.” 

He continues, "Entering into the Shanghai system and other global organizations will be the first stage of liberation from the dollar," adding that "the movement to end the dollar's hegemony over the world, led by major countries, has greatly succeeded." 

He adds, "Contracting from companies from Eastern countries and bringing them to work inside Iraq will avoid the economic blockade," pointing out that "the government is required to seek to find alternatives and take the step of liberating the country from the dominance of the dollar and American sanctions." 

The economic expert, Nasser Al-Kanani, confirmed that the number of Iraqi banks affected by US sanctions has reached 26 banks so far. 

*End American hegemony!

In addition, a member of the Nebna Alliance, Ali Al-Zubaidi, confirms that ending American economic hegemony lies in the government’s move towards ending the deposit of oil selling money in the Federal Bank, adding that it will enable the government to choose the currency in which it is sold.

Al-Zubaidi said in an interview with the Maalouma Agency, “Freedom from the restrictions of the dollar will give confidence to the Iraqi currency, in addition to tighter control over the economic movement,” noting that “the main problem is imposing the deposit of oil money in the American bank.”

He continues, "The number of members of the BRICS system has reached approximately 30 countries, and this constitutes a threat to the US dollar in itself," pointing out that "its new currency will be circulated in all these countries that constitute a large part of the global economy."

Al-Zubaidi concluded his speech: “Washington’s hegemony will not last long in light of the global estimates of economists,” noting that “the end of American economic hegemony lies in the government’s move towards ending the deposit of funds for selling crude oil in the Federal Bank.”

The United States of America continues to impose its influence on Iraq in many vital files, including depositing the money from the sale of Iraqi oil in the US Federal Bank, amid clear blackmail by passing many files, most notably the dollar bill, which puts great pressure on the government.  link

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

Tishwash :  Finance announces the launch of a new issue of government bonds for public subscription

● Version details:

Bond type: Government bonds denominated in Iraqi dinars.

● Categories offered:

- A bond denomination of (500,000) thousand dinars, with a maturity of two years, with an annual interest of 6.5%, paid every six months.

- A bond denomination of (1) million dinars, for a period of 4 years, with an annual interest of 8.5%, paid every six months.

● Subscription date: period from April 15, 2024 to May 15, 2024.

● Subscription method: Purchase applications are submitted to one of the bank branches approved by the Central Bank of Iraq, accompanied by the original identification documents. The bank then sends the application with the purchase amount to the Central Bank via the RTGS electronic payments system on the same day of purchase. In return, the buyer will receive a receipt for the purchase amount he paid until the bond is prepared, and after a period not exceeding a week, the buyer brings the receipt to the same bank to receive the bond.

● We invite all citizens, investors and companies to participate by subscribing to this issue of government bonds.

● The bonds offered are tradable on the Iraq Stock Exchange.

● Advantages of subscribing to government bonds:

Guaranteed return: The government is committed to paying the annual interest and the value of the bond when it matures.

Safe investment: Government bonds are considered one of the safest investments, as investors enjoy the government's guarantee.

Contribution to the development of the national economy: The subscription funds contribute to financing economic development projects and achieving financial stability in the country.  link

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

CandyKisses:  Warning of a strong earthquake hitting Iraq

Baghdad - Iraq Today:

Iraqi seismologist Watheq Abdul Nabi warned of the exposure of the seismic fault on the border with Iran to an earthquake he described as strong, although he confirmed that the activity surrounding Iraq falls within the normal.

Abdul Nabi said in a press interview that "the seismic movement in Iran and Turkey is normal and does not cause concern, as there are strong earthquakes that hit the two countries every 10 years and some every 100 years."

Iraq recorded many earthquakes with low magnitude on a monthly basis, he said, "and we may witness earthquakes this month that we do not know the extent of their strength".

"Any scientist who claims to predict an earthquake at a specific place and time should not be believed, because this has not been achieved by seismology yet," Abdul Nabi said

He stressed that "the competent agencies monitored the presence of activity in the fault (Mandali - Badra - Tayeb) border with Iran, where the last earthquake was recorded in 2014 with a force exceeding 6 degrees, and recently these areas are witnessing seismic activity," adding, "It is expected that we will witness an earthquake in these areas with a magnitude exceeding 5 degrees, but we cannot determine the time and time."

Earlier in the day, a magnitude 4.5 earthquake struck the southern Turkish province of Malatya, as seismologists warned of a devastating earthquake in the city of Istanbul.

The border strip between Iraq and Iran is seismically active, and tremors are usually recorded at different levels.

Mot: :  in Trouble Now!!  

Mot: .. OK - You Get One Wish !!!!!!

Iraq Economic News and Points to Ponder Late Wednesday Evening 4-3-24

Iraq Economic News and Points to Ponder Late Wednesday Evening 4-3-24

Tlm724 Administrator Bondlady’s Corner

The Central Bank Sells More Than A Quarter Of A Billion Dollars During Today's Auction

Economy News – Baghdad  The Central Bank of Iraq announced, on Wednesday, its sales of hard currency, amounting to about 256 million dollars in today’s transactions, according to the official rate of 1310.

The bank’s data showed that the total internal cash withdrawals amounted to 11,710,000 dollars, while the total amounts of transfers abroad, which include remittances. The credits amounted to $244,703,014, while the total sale amounted to $256,413,014.  https://economy-news.net/content.php?id=42151

The Central Bank Is Moving To Lift The Ban On 28 Iraqi Banks

Economy | 11:54 - 04/03/2024  Mawazine News – Baghdad  The Parliamentary Investment and Development Committee revealed, today, Wednesday, steps by the Central Bank to lift the ban on 28 banks, while indicating that the private sector will participate with the public sector in many strategic projects.

The head of the Parliamentary Investment and Development Committee, Hassan Al-Khafaji, said in a statement followed by Mawazine News: “The committee proposed to the Governor of the Central Bank, Ali Al-Alaq, to ​​support private private banks and involve them in loans,” explaining that “the governor confirmed his support after lifting minor violations against some banks.” ".

He pointed out that "the governor of the Central Bank promised to submit a report to the US Treasury to lift the ban on Iraqi banks, which number 28 private banks," expecting "the ban on those banks to be lifted during the coming period."   https://www.mawazin.net/Details.aspx?jimare=245214

Chairman Of The Investment Authority: We Are Keen To Strengthen Relations With Various Countries

Economy News – Baghdad  The head of the National Investment Commission, Haider Muhammad Makkiya, confirmed on Wednesday Iraq's keenness to strengthen its economic and investment relations with various countries.

The authority stated in a statement, seen by Al-Iqtisad News, that “The Chairman of the National Investment Authority, Haider Muhammad Makkah, received the Malaysian Ambassador to Iraq, Muhammad Shahir bin Sabruddin, and they discussed developing economic relations between the two countries.”

The head of the authority stressed - according to the statement - that "Iraq is keen to strengthen its economic and investment relations with various countries, including Malaysia, and to encourage Malaysian companies towards major and vital projects in Iraq."

For his part, the Malaysian Ambassador, Muhammad Shahir bin Sabruddin, thanked the Chairman of the National Investment Authority, Haider Muhammad Makkiya, for his interest in developing the investment process, opening horizons with reputable international companies, and activating purposeful activities that achieve common interests between Baghdad and Kuala Lumpur.

Views 32 04/03/2024 - 5:58 PM   https://economy-news.net/content.php?id=42166

Iraq Stock Exchange: The Launch Of A New Stock Trading Index Is Near

Market  Economy News – Baghdad  The Iraq Stock Exchange announced today, Tuesday, the imminent launch of a new stock trading index.

A statement from the authority received by Al-Iqtisad News stated, “The Securities Authority and the Iraqi Stock Exchange, after studying, analyzing and measuring the market index for traded stock prices, are preparing to launch a new index that operates under the title ISX15.”

The statement added, “The work and analysis team at the Securities Commission and the Iraqi Stock Exchange focused on measuring the new index and testing it on the experimental environment, and then starting the test on the real environment according to the most important principles, the most important of which is selecting a sample of companies for the best 15 companies in terms of continuing daily trading, as well as choosing the company’s weight.”

Based on the market value of the free float shares, provided that the effect does not exceed 20% at best for a single company as a maximum, and adopting the same prevailing base session for the ISX60 index after adjusting its weight based on the free float shares, as well as other additional variables that will be presented in the index guide.

The statement indicated that “the launch of a new index, ISX15, aims to adopt free stocks in dealing and trading for the purposes of measurement and influence, and the interest of the financial markets in launching a total index and a partial index to measure the impact on the movement of continuously traded stock prices, and to attract new investors and national and foreign investment portfolios,” indicating that “The Authority and the market continue to issue indicators and updates, in addition to positive follow-up and disclosure.”  Views 113  04/02/2024 - https://economy-news.net/content.php?id=42120

Infographic: The Central Bank Of Iraq Reveals A Decrease In The Percentage Of Non-Performing Loans

  April 03, 2024  The Department of Statistics and Research at the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.

 The Department of Statistics and Research said that the  ratio of non-performing loans to total cash credit witnessed a decline, reaching  (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%) and in 2020.

It reached (8.9%), and the department added that the ratio of non-performing loans to total deposits for the year  2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%) while It was (5.2%) in 2020.

     The Central Bank of Iraq emphasizes that this ratio is an indicator of the efficiency of the Iraqi banking sector in its endeavor to       develop its products and      adopt new methods and      advanced systems for granting credit and reducing the risks of default in accordance with global contexts.   

     Central Bank of Iraq       information Office       4/3/2024    

Infographic: The Central Bank of Iraq reveals a decrease in the percentage of non-performing loans  Clip_image004 https://cbi.iq/static/uploads/up/file-171212508978087.jpg

  https://cbi.iq/news/view/2542

A Digital Platform To Enhance E-Governance Programs

The first 04/04/2024  Baghdad: Israa Al-Samarrai The Communications and Media Commission has identified the advantages of the digital platform that it launched a few days ago, for reserving the Iraqi domain (com.iq) and (net.iq), which aims to  enhance Iraq’s national identity and   introduce modern digital technologies into its commercial dealings with the aim of   enhancing its international standing.

The authority’s official spokesman, Haider Najm, said in an interview with “Al-Sabah”:

The authority was keen to launch a digital platform to reserve the Iraqi domain (com.iq) and (net.iq), and thus  companies can now reserve their own domain, indicating that the authority has approved the use of The latest technologies in the Iraqi domain digital platform. He added that the  platform will provide its services for management and financial payment, and will also enable companies to choose the name they wish to reserve and pay the financial costs for the domain through DNS control, to which the domain that has been reserved will be linked through a specific website designated by the Authority for that purpose.

Najm considered the platform for the Iraqi domain to be one of the most important programs that his department was keen to implement and make available to users, as it enhances the work of electronic governance.

It will also provide a digital platform for reserving the Iraqi domain without any problems.

It will also create a qualitative breakthrough for companies operating in the country through my website (com.iq). And (net.iq). He stated that payment of fees for the Iraqi domain has been made available to every user through digital technologies, and the  cost of each digital domain varies from one person to another or from one company to another, and is according to its size, capacity and number of characters, noting that domain reservation has been activated for companies first, while the coming period will witness the availability of reservation.  The Iraqi digital domain is officially available to citizens.     https://alsabaah.iq/94663-.html   

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

Provoking Points To Ponder On Failures and Mistakes

The errors of great men are venerable because they are more fruitful than the truths of little men.- Friedrich Nietzsche

There is something distinguished about even his failures; they sink not trivially, but with a certain air of majesty, like a great ship, its flags flying, full of holes.- George Jean Nathan

If all else fails, immortality can always be assured by spectacular error.- John Kenneth Galbraith

In a great mistake. - Nathalia Crane

Any man whose errors take ten years to correct is quite a man.- J. Robert Oppenheimer

If you have made mistakes, even serious mistakes, there is always another chance for you.- Mary Pickford

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

http://famousquotesandauthors.com/quotes_by_topic.html 

Goldilocks' Comments and Global Economic News Wednesday Afternoon 4-3-24

Goldilocks' Comments and Global Economic News Wednesday Afternoon 4-3-24

Good Afternoon Dinar Recaps,

Executive Order 13303 Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has An Interest.

Signed by   GEORGE W. BUSH THE WHITE HOUSE, May 22, 2003.   Executive Order 13303

~~~~~~~~~

EXECUTIVE ORDER 13303 HAS BEEN LIFTED:

"Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has an Interest"

The lifting of this executive order 13303 and the movement from that account to an Iraqi2 account allows Iraq to trade their oil revenue payments in the Iraqi dinar, instead of, the dollar.

The protections of the United States Dollar mechanisms is no longer needed for Iraq since they are integrated into the Digital Asset Based Trading System at this point.

We just recently witnessed their auctions being done successfully on these new digital mechanisms, and it secured their money in the transfers very well.

The oil production of Iraq will now be traded in the Iraqi Dinar. It will begin to place price pressures and demand for the Iraqi Dinar going forward. Let's take a look at the areas of disbursements this will affect for Iraq. See below paragraph.

"Disbursements: To date, disbursements from the DFI have been in support of the wheat purchase program, the currency exchange program, the electricity and oil infrastructure programs, equipment for Iraqis security forces, and for Iraqi civil service salaries and ministry budget operations."

These new demands now being traded in the Iraqi dinar will create price pressures that form new price actions on the market. Appreciations on a country's currency making these moves are expected.
Kurdistan24    OFAC Treasury    GovInfo Library

Watch the water.

© Goldilocks

~~~~~~~~~

Research at the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.

The Department of Statistics and Research said that the ratio of non-performing loans to total cash credit witnessed a decline, reaching (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%) and in 2020.

It reached (8.9%), and the department added that the ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%) while It was (5.2%) in 2020.

The Central Bank of Iraq confirms that this percentage is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products and adopt new methods and advanced systems for granting credit and reducing the risks of default in accordance with the contexts followed globally.
 
Central Bank of Iraq  information Office  4/3/2024   https://cbi.iq/news/view/2542

~~~~~~~~~

WORLD SILVER SURVEY 2024
Posted on 11 08, 2023
"World Silver Survey, the Silver Institute’s most influential publication will be released on April 17 in New York City and April 19, 2024 in Mexico City. The Institute will issue a press release with the report’s findings on the 17th and post the 2024 edition to our website. A library of past Survey’s can be found here: World Silver Survey Library (https://www.silverinstitute.org/all-world-silver-surveys/)."

Here is what you can expect. There is a strong expectation that we currently have a short squeeze taking place in the silver market.

This will affect the Banking System as so many trades back and forth daily on the COMEX paper trades have propped the system up.   Silver Institute

Are we about to see a second decoupling event in the Commodity Market?

Hi ho Silver. Away.

© Goldilocks

~~~~~~~~~

We have seen a decoupling event in copper, silver is in the process, and gold is around the corner.

These are the Commodity Assets that supports our Global Economies.

When they are free to find their real values, the movement into the new digital asset based trading system will have a new liquidity base for real values.

© Goldilocks

~~~~~~~~~

For new prices on Silver and Gold. Watch the US Debt Clock.  https://www.usdebtclock.org/

~~~~~~~~~

Hong Kong Banking Announcement:

HKMA is in the process of providing guidance for their banking system on the adoption of a Digital Ledger Transmission system.

The DLT will allow Tokenized Assets from their Markets to be processed through their banking system - digitally.

On the retail side, it will help their point of sales purchases inside their local economy.

It is also important to note that Hong Kong has already gone through crypto regulations in their Stablecoin which represents their currencies that were tested and approved by many countries to work with them in trade.  Ledger Insights   LeeWayHertz   Wikipedia

The last article below will give you an idea of their trading partners.

© Goldilocks

~~~~~~~~~

Do you remember the words sewn on to your clothes? "Made in Hong Kong." They trade in sooooooo many countries around the world.

Now, reread the above article on Hong Kong, and you will see why this is so important.

© Goldilocks

~~~~~~~~~

THE SILVER BREAKOUT: Off To $48? | Mike Maloney & Tavi Costa | Youtube

~~~~~~~~~

Take a close look at silver's cup and handle formation.  Right behind it is a coil.

Silver is on the cusp of a breakout. This cup and handle has been forming on Silver for over 47 years.

This shift is very close to the time when we moved from a gold standard to a fiat system.

It has been one of the indicators to watch for traders that will allow us to know when the next system is close in hand.

As we continue to transition into a new digital economy, it will be the commodity bull market that will lead the way.

© Goldilocks

~~~~~~~~~

20% Yield On XRP AMM | Youtube

~~~~~~~~~

Stablecoin Expansion Continues Even as Bitcoin (BTC) Rally Appears to Stall | Coindesk

~~~~~~~~~

Follow Goldilocks' Roadmap

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Iraq Economic News and Points to Ponder Wednesday AM 4-3-24

Iraq Economic News and Points to Ponder Wednesday AM 4-3-24

Tlm724 Administrator Bondlady’s Corner

Sudanese Advisor: The World Bank Plays A Positive And Supportive Role For The Iraqi Economy

Economy | 05:45 - 04/03/2024  Mawazine News - Baghdad,  the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Wednesday, that the World Bank plays a positive and supportive role for the Iraqi economy, and its team in Baghdad represents the advisory arm for the government program.

Saleh said, “The World Bank Group in Iraq launched its new relationship with our country in accordance with what was stipulated in UN Security Council Resolution 1483 in May 2003, and it is undertaking the task of mobilizing financial and technical assistance to support Iraq’s efforts to restore confidence in the economy, build its foundations, and reduce the burden of its debt, in cooperation with the Fund.” International Monetary.

He added, "After years of wars and conflicts that affected the country's infrastructure since the 1980s and Iraq's severance and isolation from the world and multilateral international organizations, the bank contributed by taking its active role after the year 2003, especially in managing a number of development financing funds for the benefit of our country's economy."

He continued, "This was done by managing the funds provided by donor countries to Iraq under the Madrid Donors Conference held in October 2003, or by contributing to supporting the private sector through the role assumed by the International Finance Agency (IFC) as one of the arms of the World Bank Group active with the private sector."

As well as through the Bank’s role in supporting some aspects of development and facilitating ways of stabilizing our economy, including providing soft loans provided by the World Bank to support the national economy on various occasions during the last twenty years, specifically during the dual financial and security crisis to confront the ISIS terrorist gangs and the decline in oil prices after... The year 2014.”

He added, "The World Bank also played a role in improving the governance of economic life and rebuilding the requirements of a more powerful and modern digital and development era for the benefit of our country in many areas, in addition to contributing to rebuilding livelihoods by enabling social welfare programs and providing them with plans and programs that address issues of combating poverty."

He pointed out, "The World Bank works closely with international partners to support economic reforms, specifically in the financial, banking, and public finance sectors."

Saleh continued, “The World Bank today is not only a financing institution, but rather a bank that provides knowledge and its tools based on its accumulated experience that has reached nearly eighty years.

Since its founding in 1945, Iraq was at the forefront of the founding countries of the World Bank Group and the International Monetary Fund, and this is how the bank is viewed.” The International Bank is currently considered an “information and knowledge bank.”

https://www.mawazin.net/Details.aspx?jimare=245252

Stability In Dollar Exchange Rates In Baghdad, Basra And Erbil

Wednesday 03, April 2024 12:04 | Economical Number of readings: 200 

Baghdad / NINA / The exchange rates of the dollar against the dinar witnessed stability this Wednesday morning in Baghdad, Basra and Erbil.    Below is a list of dollar selling prices:

$100 = 147,200 dinars in Baghdad  * $100 = 147,300 dinars in Basra *  $100 = 147,600 dinars in Erbil.

https://ninanews.com/Website/News/Details?key=1119329

The Financial Advisor To The Prime Minister Reveals The Size Of Iraq's External And Internal Debts

Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, revealed the size of Iraq's foreign and internal debts, while indicating a government plan to pay them.

Saleh told Baghdad Today that Iraq’s external debt is very small and constitutes less than 30% of the country’s gross domestic product, and this percentage is less than the standard and safe percentage, which is 60% according to European Union standards. He explained

that Iraq has A plan to repay these debts, the remainder of which is less than $20 billion, approximately one-third of which will be repaid during this year and may decrease significantly over the next few years.”

He added that the largest debt is internal, and this debt does not pose any risk, as it is within government financial institutions, and is not a debt between individuals and the government, and about (98%) is debt between the government, government banks, the Central Bank of Iraq and the Ministry of Finance,” indicating that “there is a plan To settle these debts in the future in a way that does not constitute any burden.”

The financial advisor to the Prime Minister pointed out that “the internal debt is estimated at 50 billion dollars, but it is within the official government financial institution, and the Central Bank controls approximately (64%) of it,” stressing that “The external debt is the most important and Iraq is committed to paying it.   https://www.radionawa.com/all-detail.aspx?jimare=37864

The American Ambassador: Benefiting From Kurdistan's Oil Can Help Iraq Towards Energy Independence

Energy   Economy News – Baghdad  The US Ambassador to Iraq, Alina Romanowski, confirmed that benefiting from the Kurdistan Region's oil and gas will help Iraq towards independence in the field of energy.

Romanowski said on the X platform: “In preparation for the Sudanese Prime Minister’s visit to the United States, I discussed with Federal Oil Minister Hayan Abdul-Ghani Iraq’s independence in the field of energy for the benefit of the Iraqis.”

The American ambassador added: "Benefiting from the oil and gas found in the Kurdistan Region of Iraq can help Iraq on its path toward energy independence."

It is noteworthy that the Iraqi Ministry of Electricity intends to purchase gas from the Kormor field in Sulaymaniyah Governorate in the Kurdistan Region to meet the needs of production stations “in the northern region.”  Views 63  Added 04/03/2024 - https://economy-news.net/content.php?id=42142

A Slight Increase In The Prices Of Basra Heavy And Light Crude Oil

Economy | 10:59 - 04/03/2024  Mawazine News – Baghdad  The prices of Basra Heavy and Medium crude oil rose slightly today, Wednesday, with the rise in oil prices in global markets.

Basra Heavy crude prices rose 42 cents to reach $83.43, and Basra Medium crude prices rose 42 cents to reach $86.81.

Global oil prices rose as a larger-than-expected decline in US crude inventories and escalating geopolitical tensions raised investor concerns about tight supplies.

https://www.mawazin.net/Details.aspx?jimare=245208

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

Provoking Points To Ponder On Failures and Mistakes

 Virtually nothing comes out right the first time. Failures, repeated failures, are finger posts on the road to achievement. The only time you don't want to fail is the last time you try something.... One fails forward toward success.- Charles F. Kettering

A clever man commits no minor blunders.- Johann von Goethe

Sometimes a noble failure serves the world as faithfully as a distinguished success.- Edward Dowden

No man ever progressed to greatness and goodness but through great mistakes.- Frederick W. Robertson

The credit belongs to the man who is actually in the arena; whose face is marred by dust and sweat and blood; who strives valiantly; who errs and comes short again and again; who knows the great enthusiasms, the great devotions, and spends himself in a worthy cause; who, at the best, knows in the end the triumph of high achievement; and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat.- Theodore Roosevelt

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