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Iraq Economic News and Points To Ponder Sunday Afternoon 6-23-24
Advisor to the Association of Banks: The Central Bank's third strategy is a new methodology for financial and banking reform
Economy News – Baghdad Mecca – Exclusive Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank's third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation.
Al-Nusairi said, in an interview from Makkah Al-Mukarramah, exclusively for “Al-Iqtisad News,” that “the Central Bank’s third strategy for the years (2024-2026), which derived its main and subsidiary objectives from the general economic policies of the state and its strategy for financial and banking reform that the government adopted in the government curriculum and from Central Bank Law No. 56 of 2004, and the new strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years in a special and complex economic and financial circ*mstance full of risks and challenges at the level of internal and external economic and financial relations.”
Iraq Economic News and Points To Ponder Sunday Afternoon 6-23-24
Advisor To The Association Of Banks: The Central Bank's Third Strategy Is A New Methodology For Financial And Banking Reform
Economy News – Baghdad Mecca – Exclusive Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank's third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation.
Al-Nusairi said, in an interview from Makkah Al-Mukarramah, exclusively for “Al-Iqtisad News,” that “the Central Bank’s third strategy for the years (2024-2026), which derived its main and subsidiary objectives from the general economic policies of the state and its strategy for financial and banking reform that the government adopted in the government curriculum and from Central Bank Law No. 56 of 2004, and the new strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years in a special and complex economic and financial circ*mstance full of risks and challenges at the level of internal and external economic and financial relations.”
He pointed out, “What concerns us as specialists in economic, financial, and banking affairs is what are the new mechanisms and policies that the Central Bank has adopted in its monetary policy and banking reform? According to the approach of the fundamental change desired for the national economy, in which the banking sector constitutes the first and basic link and the implementer of monetary policy applications.”
Al-Nusairi explained that “the Central Bank’s third strategy set the basic goals at 7 goals, the sub-goals at 80 goals, and 75 initiatives to achieve the basic and subsidiary goals and charted the way for banking and financial reform in accordance with the following strategic goals: -
1- Supporting and enhancing monetary stability.
2- Promoting digital transformation and activating electronic payment.” Strengthening cybersecurity in the Central Bank and the banking sector.
3- Promoting financial inclusion.
4- Maintaining a sound financial system that guarantees the rights of its customers.
5- Developing the organizational structure and developing human resources capabilities in the central bank.
6- Strengthening the position of the central bank locally and internationally.
7- Strengthening the compliance of the banking sector Non-banking institutions in line with international standards.
He added, “These strategic objectives have been defined as programs and policies to achieve the primary and subsidiary objectives and their most prominent initiatives in achieving the first strategic objective, which is the national lending strategy, which will restructure banking financing in Iraq and the initiative to leave the electronic platform and adopt correspondent banks in Iraq.”
External transfers and the goals emphasize protecting the financial system, enhancing financial inclusion, managing monetary and financial stability, developing control and supervision, developing regulation in the banking sector, completing the development of the organizational structure in the central bank in accordance with the frameworks and techniques adopted in international central banks, raising the capabilities of human resources, developing banking operations, and enhancing bank relations. internal and external, and to represent him locally and internationally.”
Al-Nusairi concluded, “By analyzing the mechanisms and action points to achieve the above goals, we note that the strategy identified the planning team, the implementation team, the implementation mechanisms, and responsibility. It also identified clear priorities for achieving reform. Certainly, these priorities were diagnosed in light of the challenges facing the monetary policy and the banking sector, the implementation steps, and the results achieved by the strategy.”
The first is for the years 2016-2020 and the second strategy is for the years 2021-2023 and the stifling economic and financial challenges that Iraq has suffered over the past years.
Work through this strategy is to clearly identify opportunities to overcome the challenges for this and for the purpose of implementing the banking reform methodology according to what was stated in the strategy and according to an insight into the priorities and challenges that The Iraqi banking sector is suffering from it.
The Central Bank made exceptional efforts during this year and last year, completing the first phase of it and began implementing the second phase.
Many of the primary and secondary objectives were achieved, and it is trying to complete the achievement of all the objectives in the second half of 2024 and the years 2025 and 2026 of the plan that has been proven to have been prepared and planned. It has identified advanced steps on the path to systematic implementation of the desired financial and banking reform in Iraq.
283 views 06/23/2024 - https://economy-news.net/content.php?id=44513
The World Bank Predicts Iraq's Economic Future In 2026
Economy | 12:19 - 06/23/2024 Baghdad - Mawazine News The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.
The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.
He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.
The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." https://www.mawazin.net/Details.aspx?jimare=250086
Iraq's Oil Exports To America Declined Last Week
Sunday 23, June 2024 10:44 | Economical Number of readings: 238 Baghdad / NINA / Iraq's oil exports to the United States recorded a decline during the past week.
The US Energy Information Administration stated in a report, “The average US imports of crude oil during the past week from 8 major countries amounted to 6,028 million barrels per day, down by 21 thousand barrels per day from the previous week, which amounted to 6,120 million barrels per day.”
She added, "Iraq's oil exports to America amounted to 164,000 barrels per day last week, down by 64,000 barrels per day from the previous week, which amounted to 228,000 barrels per day."
She continued, "Most of America's oil revenues during the past week came from Canada, followed by Mexico, then Saudi Arabia and Colombia, while American imports of crude oil continued, from Brazil, Ecuador and Nigeria, and it did not import any quantity from Libya."/End 11 https://ninanews.com/Website/News/Details?key=1133630
Find Out The Exchange Rate Of The Dollar In Local Markets
Economy | 10:59 - 06/23/2024 Baghdad - Mawazine News The exchange rates of the dollar against the dinar recorded a slight increase today, Sunday, on the main stock exchange in the capital, Baghdad.
The price of the dollar in the Kifah and Al-Harithiya stock exchanges recorded 146,850 dinars for every 100 dollars.
Prices in the exchange shops in the local markets in Baghdad also recorded an increase, as the selling price reached 147,750 dinars, while the purchase price reached 145,750 dinars for every 100 dollars.https://www.mawazin.net/Details.aspx?jimare=250079
Currency Auction: Central Bank Sells $273 Million
Economy | 06/23/2024 Baghdad - Mawazine News The Central Bank revealed, on Sunday, its hard currency sales for today, confirming that they amounted to more than 273 million dollars in the currency auction.
In its auction today, the bank sold 273 million, 244 thousand and 330 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.
According to the bank’s data, the total internal cash withdrawals amounted to $22,970,000, while the total amounts of transfers abroad, which include transfers and credits, amounted to $250,274,330. https://www.mawazin.net/Details.aspx?jimare=250106
To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/
Provoking Thoughts and Points To Ponder On Adversity:
The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue. -Francis Bacon
The keenest sorrow is to recognize ourselves as the sole cause of all our adversities. -Sophocles
No untroubled day has ever dawned for me. -Seneca
You can't have more bugs than a blanketful. -Spanish proverb
Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair. -Hasidic saying
http://famousquotesandauthors.com/topics/adversity_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 Sunday Afternoon 6-23-24
Good Evening Dinar Recaps,
From Last Night:
China has been selling their US Treasury Bonds and buying gold to create a diverse net worth of their holdings in gold. It has allowed them to decouple their economy from the dollar and begin a Treasury Bond Market of their own.
As of May 2024, gold makes up 4.9% of China's foreign exchange reserves. Central Banks have been buying gold at record rates around the world to achieve their Independence and Sovereignty.
The bond market plays an important role in the valuation of financial assets. The utilization of this financial tool will aid the countries who have moved through their Article 4 consultations with the IMF to achieve financial clarity and direction.
Goldilocks' Comments and Global Economic News Sunday Afternoon 6-23-24
Good Evening Dinar Recaps,
From Last Night:
China has been selling their US Treasury Bonds and buying gold to create a diverse net worth of their holdings in gold. It has allowed them to decouple their economy from the dollar and begin a Treasury Bond Market of their own.
As of May 2024, gold makes up 4.9% of China's foreign exchange reserves. Central Banks have been buying gold at record rates around the world to achieve their Independence and Sovereignty.
The bond market plays an important role in the valuation of financial assets. The utilization of this financial tool will aid the countries who have moved through their Article 4 consultations with the IMF to achieve financial clarity and direction.
China intends to move into their Treasury Bond Market gradually. They intend to use this as a liquidity tool to help manage interest rates and move their monetary system forward through the support of gold as collateral instead of the dollar.
Other countries around the world are in process of doing the same. Over time, we will be witnessing an increase of exchange rates determined by each country's ability to collateralize their newfound level of Independence through gold as it deflates their inflating economies.
It is important for us to watch these new trends as they will create new valuations upon currencies that have been lying dormant for many years. These new local currencies being traded between nations going forward will soon be operating from their own strength and support through gold. Morning Star Investopedia
Gold will set us free.
© Goldilocks
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"The tokenized US Treasuries market reached an all-time high of 2,143 holders on June 18th, with a 250% year-to-date growth,according to data aggregator RWA.xyz. The Ondo Short-Term US Government Bond Fund (USDY) leads with 1,054 holders and over $218 million in tokenized bonds."
Tokenized US Treasury Market! Do you see it's importance now? And why, Central Banks have been buying so much gold? The Central Banks have been the banks for our banks for a long time, and now, they are about to become our banks through a Digital Network System.
As our bond markets are tokenized, they will be the underlying assets that supportthe rest of our country's currencies. Because these tokens have gold within there net worth, it will turn our fiat system into a Real World Asset backed by gold utilizing a digital protocol that standardizes each transaction made around the world.
This is the new Gold Standard, of which, we are in process of achieving. It will guide us forward into more and more creative possibilities that are endless in their capacity to achieve abundance we have not seen before.
We are certainly not there yet, and transitions can be hard. But, we are standing at the edge of an opportunity that requires faith, hope, and love for those around us as we journey through this time together. CryptoBriefing RWA
The world we have been seeking for so long has just found us, and we are about to step into it.
© Goldilocks
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Demand for Tokenized Treasury Bonds Soars as Crypto Investors Chase TradFi Yield|Youtube
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Tokenized Municipal Bonds | Andrew Samu |Youtube
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The Swiss National Bank (SNB) has announced that it has become the world’s first central bank to ‘carry out a monetary policy operation in a live production environment’ using distributed-ledger technology’ (DLT).
It made the announcement during a press conference in Zurich (20 June) that led with updates on topics such as inflation and the Swiss economic outlook before focusing on fintech-related innovation – chiefly new ambitions for its wholesale central bank digital currency (CBDC) pilot initiative ‘Project Helvetia’.
TheSNB stated that it had successfully issued digital SNB bills on the SIX Digital Exchange (SDX) – the ‘tokenised assets’ platform sibling of the SIX Swiss Exchange, Switzerland’s principal stock exchange – ‘at the beginning of June’. The token-based bills, which had an issuance volume of CHF 64 million (about £56.6m/$71.6m), had a one-week term.Currency Insider SNB
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China Securities Regulatory Commission
The CSRC will explore the introduction of STAR 50 index futures and options, establish “green channels” for M&A, and optimise market-maker and trading mechanisms, among other measures. |Global Times
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CBI Begins Second Phase of Reform RE Boom 120 °F and Rate Expectations |Youtube
👆 Goldilocks pointed to this article
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Goldilocks Daily Podcast -- Vietnam Hot Topic 06.22.2024
LISTEN HERE:
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BRICS Currency Unveil in 2024: What Next?
Fastepo: 6-22-2024
The BRICS nations are developing a new currency to reduce global reliance on the US dollar. This effort aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance.
In the first week of June, Russian President Vladimir Putin announced this initiative during the St. Petersburg International Economic Forum.
The concept of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar.
In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new global reserve currency to reduce reliance on the dollar and euro.
BRICS Currency Unveil in 2024: What Next?
Fastepo: 6-22-2024
The BRICS nations are developing a new currency to reduce global reliance on the US dollar. This effort aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance.
In the first week of June, Russian President Vladimir Putin announced this initiative during the St. Petersburg International Economic Forum.
The concept of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar.
In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new global reserve currency to reduce reliance on the dollar and euro.
To facilitate cross-border transactions among member states, the BRICS Pay system was introduced.
It leverages digital technologies and blockchain to provide a secure, transparent, and efficient payment platform.
This system is seen as a precursor to a more unified BRICS currency.
In 2024, BRICS nations announced plans to create a digital currency payment system, leveraging blockchain technology to enhance financial integration and reduce reliance on Western financial systems like SWIFT.
Malaysia Just Changed the Future of Asia with THIS One Move!
Cyrus Jenssen: 6-23-2024
Malaysia is moving forward and will be joining BRICS later this year! This is massive news for the BRICS alliance as Thailand has also announced similar intentions. Malaysia and Thailand joining BRICS is huge news and no one is more excited about this than China who depends on the Strait of Malacca for its oil imports.
Malaysia is joining BRICS to help boost it's local currency as the BRICS organization will be launching a new currency trading platform later this year! Let's break it down in today's video
0:00 - Intro to Malaysia Joining BRICS
1:16 - Why the Strait of Malacca is so Important
3:25 - China's Backup Plan
4:20 - How China Built It's Reputation in Asia
5:55 - Why Malaysia is China's Best Friend in Asia
6:55 - Why the World Wants to Move Away from US Dollar
8:30 - Why Turkey Will Join BRICS
9:05 - How Joining BRICS Will Help Malaysia
How BRICS Nations Are Overcoming Western Bias in University Rankings
Think BRICS: 6-22-2024
Discover how BRICS nations are overcoming Western bias in university rankings through innovative strategies and cooperation. Education, economic growth, and global competitiveness are at the forefront of this transformation.
This video explores how BRICS countries, under Russia's presidency, are enhancing education standards, establishing the BRICS Network University, and promoting eco-climatic literacy.
Learn about the significant efforts in higher education, such as the BRICS International Olympiad and the development of an alternative university ranking system. Key figures like Viktor Sadovnichy and institutions like Moscow State University are leading the charge for a fairer, more comprehensive evaluation of global education standards.
The video delves into the impact of Xi Jinping's policies on Chinese universities and the ongoing efforts to strengthen academic cooperation among BRICS countries.
Highlighting major events such as the BRICS Summit and the BRICS Rectors' Forum, it underscores the importance of policy change, mutual recognition of qualifications, and collaborative research.
This holistic approach aims to create a skilled human capital base crucial for economic growth and social equity. With a focus on shared prosperity, the video illustrates how BRICS nations are setting new benchmarks in global education.
00:00 Introduction to Education's Economic Impact
00:33 The Importance of Education in BRICS Countries
00:44 BRICS Education Initiatives Under Russia's Presidency
01:52 BRICS Network University Project
02:09 Mutual Recognition of Qualifications
02:15 Environmental and Cultural Initiatives
02:38 BRICS International Olympiad and University Rankings
03:19 Challenges in Global University Rankings
04:50 Alternative University Ranking Systems
05:47 Impact of Geopolitics on Education
07:20 China's Shift in University Rankings
09:01 BRICS Unified Regulatory Framework
09:45 BRICS Science Academies Meeting
10:39 International Scientific Collaboration
11:34 Successful Educational Cooperation
12:42 The Role of Education in Economic Growth
13:14 Conclusion and Final Thoughts
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TNT:
Tishwash: Dozens of Iraqi companies participate in an investment summit in America
The US Ambassador to Baghdad, Alina Romanowski, announced on Sunday that more than 30 Iraqi companies will participate in a summit related to investment projects in the United States available to foreign companies.
Today, Romanowski wrote in a blog on the “X-Twitter” platform, “Best wishes to the 33 Iraqi companies heading to the SelectUSA Investment Summit in Washington, D.C., next week.”
She added, "The investment process is through linking Iraqi companies with American companies and resources to help them develop their businesses."
TNT:
Tishwash: Dozens of Iraqi companies participate in an investment summit in America
The US Ambassador to Baghdad, Alina Romanowski, announced on Sunday that more than 30 Iraqi companies will participate in a summit related to investment projects in the United States available to foreign companies.
Today, Romanowski wrote in a blog on the “X-Twitter” platform, “Best wishes to the 33 Iraqi companies heading to the SelectUSA Investment Summit in Washington, D.C., next week.”
She added, "The investment process is through linking Iraqi companies with American companies and resources to help them develop their businesses."
Tishwash: The World Bank predicts Iraq's economic future in 2026
The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.
The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.
He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.
The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." link
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Tishwash: Baghdad to Host Iraq’s Largest Tech Event
Baghdad will host the Digital Transformation Initiative (DTI) Youth Forum on July 22, Iraq's largest tech event, sponsored by the Iraqi Prime Minister’s Office.
This landmark two-day event will bring together over 8,000 attendees, including youth, entrepreneurs, and companies, to explore technological trends and digital solutions.
The forum aims to raise awareness about technology among Iraqi youth and will feature 20 local and international experts. Notable speakers include Safa Salwan, VP of Investments at JPMorgan; Mustafa Nooraldin, CEO of Acksession; and cybersecurity expert Saif Alshoker. Topics will cover the Internet of Things, start-ups, cybersecurity, digitalizing the government sector, the digital economy, renewable energy, and more.
In addition to the conference, the event will include a Youth Initiatives Exhibition showcasing local projects, a Companies Exhibition promoting IT services and products by young innovators, and the launch of reports and data on Iraq's technology sector.
The DTI Youth Forum seeks to unite the efforts of youth, the private sector, and digital companies to drive digital transformation in Iraq, connecting Iraqi youth with the latest advancements in technology and innovation. link
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Tishwash: Finance begins distributing estimates of current expenditures, revenues, and investment projects for 2024
Today, Saturday, the Ministry of Finance announced the start of distributing estimates of the state’s current expenditures, revenues, and investment projects for the year 2024.
A Finance statement received by Al-Rabaa stated, “The Budget Department calls on all ministries, governorates, and entities not affiliated with a ministry to send their authorized representatives tomorrow, Sunday, for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, according to what was stated in Parliamentary Resolution No. (64). ) for the year 2024 and was held at its session numbered (27) on June 3 of the current year. link
The Ministry of Finance announced today, Saturday, the start of distributing estimates of current expenditures, revenues and investment projects for the year 2024.
The Ministry stated, in a statement, a copy of which was received by Al-Mustaqila, that “the state has begun distributing estimates of current expenditures, revenues, and investment projects for the year 2024 to the state.
She added, “The Budget Department ofthe Ministry of Financecalls on all ministries, governorates, and entities not affiliated with a ministry, to send their representatives tomorrow, Sunday, June 23, 2024, to receive estimates of current expenditures, revenues, and investment projects for the current year, which were approved by the House of Representatives in accordance with Parliamentary Resolution No. (64) of 2024, adopted at its session numbered (27) on June 3 of the current year.”
This step comes as part of the government's efforts to improve financial planning and ensure a fair distribution of resources in a way that enhances the quality of public services and contributes to achieving sustainable development inall regions of Iraq.
Mot: ... its soooo Hot Outside -- Right!!!!
Mot: .. Already Exhausted I Am !!!!
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Iraq News Highlights and Points To Ponder Sunday AM 6-23-24
After The Decline In Inflation Rates... Economic Calls To Improve Financial Policy Management In Iraq
Money and business Economy News – Baghdad Today, Sunday, financial specialists called for the need to improve financial policy management in Iraq after it witnessed a decline in inflation.
Financial expert Abdullah Al-Bandar said, “The International Monetary Fund was optimistic about Iraq due to recording a clear decline in inflation during the first quarter of this year compared to the last quarter of 2023,” indicating that “economic policies in Iraq are going well and that the government is taking into account Fund directives regarding this.
He added, "The IMF's assistance to Iraq is usually conditional on the extent of Iraq's commitment to its directives and advice. Therefore, the government and relevant parties must move towards improving the management of financial policy in Iraq and making it consistent with monetary policy, since our monetary policy is dependent on oil revenues."
Iraq News Highlights and Points To Ponder Sunday AM 6-23-24
After The Decline In Inflation Rates... Economic Calls To Improve Financial Policy Management In Iraq
Money and business Economy News – Baghdad Today, Sunday, financial specialists called for the need to improve financial policy management in Iraq after it witnessed a decline in inflation.
Financial expert Abdullah Al-Bandar said, “The International Monetary Fund was optimistic about Iraq due to recording a clear decline in inflation during the first quarter of this year compared to the last quarter of 2023,” indicating that “economic policies in Iraq are going well and that the government is taking into account Fund directives regarding this.
He added, "The IMF's assistance to Iraq is usually conditional on the extent of Iraq's commitment to its directives and advice. Therefore, the government and relevant parties must move towards improving the management of financial policy in Iraq and making it consistent with monetary policy, since our monetary policy is dependent on oil revenues."
Al-Bandar called for "the need to focus on developing non-oil economic sectors because they are very few compared to oil revenues, such as developing border crossings and developing the customs law, as well as the private sector's contribution to the domestic product, and reconsidering the customs tariff because Iraq is an importing country."
For his part, financial expert Manar Al-Obaidi explained in a post on his Facebook account, “One of the most important economic standards that countries always take into account in determining their data, because of its important role in formulating the country’s economic policy, is the monthly and annual inflation rates, which plays a role.”
It is important in the overall daily life of the citizen and in the various economic sectors,” noting that “according to data from the Central Bureau of Statistics, the annual inflation rates in Iraq decreased from 4.5% at the end of 2023 to reach 1.6% in March 2024.”
Al-Obaidi added, “Countries seek to reduce inflation rates according to their economic policies, as some countries try to target fixed inflation rates that do not increase or decrease, while others are looking for high inflation rates, especially producing countries, and they differ according to the economic policy of each country,”
pointing out that In Iraq, “there is no clear target for inflation rates except for one phrase mentioned in the strategic development plan that talked about keeping the inflation level below the 10% level.”
Al-Obaidi explained that "the decline was not the result of a significant increase in prices, but rather is due to three basic factors that contributed to the inflation rates reaching these rates, which are considered among the lowest levels of inflation in the world and the Middle East."
He stated that "the first level is a change in the weights of goods, as the process of determining inflation depends on determining a weight that represents the relative importance of each commodity, meaning that the importance of bread to the citizen is not the same as the importance of clothing, for example. Therefore, the weights vary according to the importance of the commodity.
At the beginning of 2024, the Central Bureau of Statistics changed the weights." For each commodity, the relative weight of some commodities was increased, such as food, beverages, tobacco, education, and health, in exchange for reducing some of the relative weights of other goods and services, such as housing and transportation, which includes fuel, for which the price of improved fuel was raised in 2024, in addition to household equipment.
This change played an important role in Reducing the inflation rate because some of the goods whose weights were increased did not increase much compared to those whose weights were reduced.
He continued, "With regard to the second level, it is changing the year of measurement, as the year of measurement in which a standard price was set for each commodity or product was the year 2012. The year of measurement was changed to the year 2022, and the increase or decrease in the prices of goods and services became dependent on the standard prices in 2022, not 2012, and this is The change greatly affects inflation rates in a way that reduces inflation rates,”
pointing out that “the third level is represented by the decline in the prices of some foodstuffs, such as bread, dairy, fruits, and drinks, which now represent approximately 31% of the total inflation account, and thus their decline or rise plays a fundamental role in Determining inflation levels. Therefore, general inflation decreased to 1.6%, while core inflation reached 2.7%.
Al-Obaidi wondered, “Why specifically were major changes made, whether at the level of weights or at the level of the base year, in 2024, during a critical period when there are radical changes in monetary policy and financial policy?” And why was the year 2022 adopted as a measurement year?
Is it really suitable to be a measurement year, especially since it is A year that comes after the Corona crisis, in which the world witnessed global inflation of various commodities, and it was not a year of global stability?
He concluded his speech by saying, “What we aspire to is for the data issued by various official bodies to be highly reliable and in line with the reality of the situation in order to formulate economic policies based on analyzing the gap between what is currently on the ground and the target value. No one can imagine.” The reaction of any citizen when you inform him that prices rose only 1% compared to the previous year.” Views 68 Added 06/23/2024 - https://economy-news.net/content.php?id=44523
The World Bank expects economic growth in Iraq to reach more than 5% in 2026
Money and business Economy News _ Baghdad The World Bank expects that Iraq will achieve economic growth of more than 5% in the year 2026, indicating that the recovery in the oil sector in 2025 will work to enhance growth in Iraq.
The bank said in a report seen by Al-Iqtisad News, “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased to - 2.9%.”
He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.
The bank's report indicated that oil-exporting countries outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria.Views 62 06/23/2024 - https://economy-news.net/content.php?id=44528
Government Advisor: The Budget Imposed Discipline In Expenditures And Diversification Of Revenues
Economical 06/23/2024 The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, said that the budget for the current year 2024 has a number of advantages that will increase rates of sustainable development, raise the pace of projects, and diversify sources of funding, indicating that oil price estimates in the budget are still higher than the specified price of $70 per barrel, by A change of more than 16 percent, while he indicated that the budget has high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in estimation, estimation, and collection.
Earlier, Chancellor Saleh played down the risks of an increase in the budget deficit, stressing that the increase in oil prices above the number specified in the “tripartite” budget means that “automatic financing of the deficit has become a reality.” Last month, the Ministry of Oil announced that the Basra Gas Company had exported its first A shipment of “semi-refrigerated” propane gas, amounting to more than 10,700 tons, indicating that it is “one of the large shipments that are marketed and loaded on the back of specialized tankers.”
While specialists believe that this step is very important and would maximize the country’s financial revenues, in addition to its necessity in meeting internal needs. Saleh confirmed during his speech to “Al-Sabah” that the budget enjoys high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods and information technology in estimation, estimation and collection, in addition to its orientation towards imposing discipline on operational expenditures and keeping spending on them at minimum levels. Accepted.
Saleh also explained that “the tripartite budget was truly keen to raise the efficiency of investment spending and the operation of all approved projects, in order to ensure a high growth rate in the domestic product at a rate exceeding twice the population growth rate through the movement of new projects without delay or stop,” noting that “according to Given these data, we notice that the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when there is a need for internal borrowing, and within limits that ultimately do not exceed the accepted international standard percentage for financing the deficit, which amounts to 3 percent of the total. The country's gross domestic product or slightly exceed it.
The financial advisor also explained that “the efficiency of annual spending in the operational and investment aspects is an important issue in determining the total annual public spending according to what is planned,” pointing out that the operating budget constitutes the greatest challenge in the financial policy lifestyle because it constitutes more than 70 percent of the total spending and is spent 75 percent of it is for salaries, wages, pensions, and social care.
Therefore, the transfer space in it is very limited, in our belief, or remains in a very narrow range. Developments in this aspect require that they be matched by high growth in non-oil revenues to confront the constraint on operating spending, and this is what it seeks.
The federal general budget is one of the measures to introduce digital technology and electronic collection within the governance principles stated in the government program, explaining at the same time that the distribution of investment allocations in the tripartite general budget is undoubtedly subject to the standards and indicators of national economic development plans and in accordance with a harmonious vision of investment spending priorities in the country.
Determining governorate projects, which are precise allocations that have the approval of both the Council of Ministers and the legislative authority, as the financial schedules for the year 2024 were recently approved, especially on the side of public expenditures and their operational and investment parts, whose development impacts have expanded in a hom*ogeneous manner throughout the political geography of Iraq.
Saleh believes that if the annual investment allocations for the year 2024 are proportional to the extent of the ability to implement, in light of the indicator of the disruption of the percentage of financial resources previously allocated to projects that were not implemented according to the time course specified for them, then financing governorate projects has become a matter that is consistent with the ability to implement, which is represented in... Time itself is an indicator of investment in the time dimension, which means that financing development projects must, in all circ*mstances, be proportional to the ability to implement on the ground and in practice.
Here lies the spirit of competition in the priority of one governorate in optimal investment and on time without delay, that is, proceeding with the completed work in an optimal manner. It is necessary to complete the allocations and provide them according to the real investment rule within the specified time. https://alsabaah.iq/98384-.html
Provoking Thoughts and Points To Ponder On Adversity:
[A difficult childhood gave me] a kind of co*cky confidence. ... I could never have so little that I hadn't had less. It took away my fear.-Jacqueline Cochran
If you have been sunned through and through like an apricot on a wall from your earliest days, you are oversensitive to any withdrawal of heat.-Margot Asquith
I was lucky I wasn't a better boxer, or that's what I'd be now - a punchy ex-pug.-Bob Hope
At every step the child should be allowed to meet the real experience of life; the thorns should never be plucked from his roses.-Ellen Key
Hot water is my native element. I was in it as a baby, and I have never seemed to get out of it ever since. -Edith Sitwell
http://famousquotesandauthors.com/topics/adversity_quotes.html
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Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20
Iraq Dinar- IQD Update -Iraq Reap Beneifits Artificial Inteligence-Global Economy- Renaissance
MilitiaMan and Crew: 6-22-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Dinar- IQD Update -Iraq Reap Beneifits Artificial Inteligence-Global Economy- Renaissance
MilitiaMan and Crew: 6-22-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
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Economics, News Dinar Recaps 20 Economics, News Dinar Recaps 20
BRICS: Feds Acknowledge Sanctions Led To De-Dollarization
Geopolitical Analyst: 6-21-2024
BRICS kick-started the global de-dollarization program after the U.S. pressed sanctions on Russia in February 2022 for invading Ukraine.
The alliance members Russia and China went on a world tour convincing developing countries to ditch the US dollar for trade. They have been successful in their quest as a handful of trade deals were settled in local currencies and not the US dollar.
In the latest update, the US Feds acknowledged that pressing sanctions against Russia in 2022 has led to de-dollarization intensifying.
BRICS: Feds Acknowledge Sanctions Led To De-Dollarization
Geopolitical Analyst: 6-21-2024
BRICS kick-started the global de-dollarization program after the U.S. pressed sanctions on Russia in February 2022 for invading Ukraine.
The alliance members Russia and China went on a world tour convincing developing countries to ditch the US dollar for trade. They have been successful in their quest as a handful of trade deals were settled in local currencies and not the US dollar.
In the latest update, the US Feds acknowledged that pressing sanctions against Russia in 2022 has led to de-dollarization intensifying.
US Fed Governor Christopher Waller acknowledged that the White House placing sanctions on developing countries led BRICS to kick-start the de-dollarization agenda. “If these sanctions and policies are long-lasting, the shifting cross-border payments landscape, including the rapid growth of digital currencies, could also pose challenges to the dominant role of the US dollar,” said US Fed Governor Christopher Waller.
Waller explained that China and Russia are capitalizing on the geopolitical situation and pushing the BRICS’ de-dollarization initiative ahead.
Not just Russia and China, but even BRICS members India and the newly joined country UAE are aiding the de-dollarization agenda by settling trade in local currencies and not the US dollar.
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News DINARRECAPS8 News DINARRECAPS8
Iraq Economic News and Points To Ponder Saturday Afternoon 6-22-24
Parliamentary Economy Explains...Does The Fluctuation Of Oil Prices Affect The Economy Of Iraq?
Money and business Economy News – Baghdad The Parliamentary Oil and Gas Committee confirmed today, Saturday, that the fluctuation in oil prices does not affect the Iraqi economy.
Committee member Ali Saadoun Al-Lami said, “The 2023 budget tables came to the House of Representatives when a barrel of oil was calculated at 74 dollars.”
Al-Lami added, “There are 10 moving dollars on the price of a barrel, so the rise or fall of oil prices does not affect the economy.”
Iraq Economic News and Points To Ponder Saturday Afternoon 6-22-24
Parliamentary Economy Explains...Does The Fluctuation Of Oil Prices Affect The Economy Of Iraq?
Money and business Economy News – Baghdad The Parliamentary Oil and Gas Committee confirmed today, Saturday, that the fluctuation in oil prices does not affect the Iraqi economy.
Committee member Ali Saadoun Al-Lami said, “The 2023 budget tables came to the House of Representatives when a barrel of oil was calculated at 74 dollars.”
Al-Lami added, “There are 10 moving dollars on the price of a barrel, so the rise or fall of oil prices does not affect the economy.” 06/22/2024 - https://economy-news.net/content.php?id=44491
Adviser To The Prime Minister To Nina: The Government Is Seeking New, More Effective Mechanisms To Reduce Corruption
Saturday 22, June 2024 17:12 | Political Number of readings: 120
Baghdad / NINA / An advisor to the Prime Minister confirmed that the government is seeking to find new oversight mechanisms to reduce and prevent corruption.
Muayyad Al-Saadi, Advisor to the Prime Minister for Oversight and Integrity Affairs, stated in a statement to the National Iraqi News Agency ( NINA ), that “
the directives of Prime Minister Muhammad Shia Al-Sudani to the regulatory bodies, led by the Federal Integrity Commission, crystallized into preparing a national strategy in consultation with the Federal Financial Supervision Office, where There is a process of organizing and evaluating quarterly and annually for the purpose of avoiding and addressing negatives.”
He added, "The Integrity Commission is now embarking on preparing the national strategy in a systematic, practical and objective manner to prevent and reduce corruption practices, after it has made important strides with the national anti-corruption strategy for the years 2021-2024, which has resulted in reducing the practices and phenomena of corruption in government institutions." .
The Prime Minister’s advisor stressed, “The Integrity Commission, with the participation of the supervisory bodies and the Federal Financial Supervision Bureau, seeks to find new and effective mechanisms that will reduce and prevent corruption, as well as reduce the phenomena and practices of corruption in all government joints and institutions.”/End 5
https://ninanews.com/Website/News/Details?key=1133548
Communications: Iraq Succeeds In Regaining Its Membership In The Universal Postal Union
Posted On06-22-2024 By Sotaliraq Minister of Communications Hiyam Al-Yasiri announced Iraq's success in regaining its membership in the Universal Postal Union.
A statement from the ministry said, “Minister of Communications, Hiyam Al-Yasiri, announced Iraq’s success in restoring its membership in the Universal Postal Union, after it had been canceled as a result of previous administrations’ failure to pay Iraq’s financial contributions to the union, which resulted in a huge debt that led to the cancellation of Iraq’s membership in the union.” In addition to the accumulation of financial interest as a result of late payment of these debts.”
He added, “The Minister’s continuous follow-up, guidance, and direct supervision resulted in the achievement of this material and moral achievement for Iraq, thanks to the support of Prime Minister Muhammad Shiaa Al-Sudani, and the tireless and persevering efforts made by the Director General of the Postal and Savings Company and the company’s staff,”
stressing that “dedicated communication was made with most of The administrations of countries around the world to convince them to vote in favor of returning membership to Iraq, and to drop the delay benefits resulting from its debts.”
Al-Yasiri stressed, according to the statement, “that she will continue implementing the strategy she adopted to restore the effectiveness of the Iraqi post, restore citizen confidence in government mail again, and bring it into every Iraqi home.” LINK
Basra Crude Recorded New Gains Over The Past Week
Economy | 09:32 - 06/22/2024 Follow / Mawazine News.. Basra crude recorded gains last week of more than 3%, with global oil recording strong weekly gains for Brent and West Texas Intermediate crude.
Basra Heavy crude closed in its last session yesterday, Friday, at an increase of 49 cents, reaching $82.71, and recorded weekly gains of $3.27, equivalent to 3.23%.
While Basra Average crude closed in its last session at an increase of 49 cents, reaching $85.56, and also recorded weekly gains amounting to $3.27, or the equivalent of 3.30%.
Global oil prices fell by 1% at the end of trading yesterday, Friday, but recorded strong weekly gains for Brent and West Texas Intermediate crude oil.
Brent crude recorded weekly gains of 3.1%, while West Texas Intermediate crude recorded weekly gains of 3.4%. https://www.mawazin.net/Details.aspx?jimare=250029
To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/
Provoking Thoughts and Points To Ponder On Adversity:
If you have to be careful because of oppression and censorship, this pressure produces diamonds. -Tatyana Tolstaya
Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger.-Lou Holtz
It is not in the still calm of life, or the repose of a pacific station, that great characters are formed. ... Great necessities call out great virtues.-Abigail Adams
Of all the advantages which come to any young man ... poverty is the greatest. -Josiah G. Holland
My luck was my father not striking oil... we'd have been rich. I'd never have set out for Hollywood with my camera, and I'd have had a lot less interesting life. -King Vidor
http://famousquotesandauthors.com/topics/adversity_quotes.html
Read More
News DINARRECAPS8 News DINARRECAPS8
Iraq Economic News and Points To Ponder Late Friday Evening 6-21-24
Saleh: The Tripartite Budget Gave The Government Flexibility To Implement Its Medium-Term Plans
Time: 06/21/2024 15:35:33 Read: 1,794 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the Federal General Budget Law No. 13 of 2023 (the tripartite budget) granted the executive authority high flexibility in implementing the state’s medium-term financial plan for the years 2023, 2024, and 2025.
Saleh told {Al-Furat News} agency, “In implementation of the provisions of Article 2/77 of the law above, which stipulates that the government shall submit financial schedules related to expenditures, public revenues, and the planned deficit for the fiscal years 2024 and 2025, in order to provide a flexible space that allows for the implementation of the general budget efficiently and on a budget.” In accordance with the constants stipulated in Law No. 13 mentioned above.”
Iraq Economic News and Points To Ponder Late Friday Evening 6-21-24
Saleh: The Tripartite Budget Gave The Government Flexibility To Implement Its Medium-Term Plans
Time: 06/21/2024 15:35:33 Read: 1,794 times {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the Federal General Budget Law No. 13 of 2023 (the tripartite budget) granted the executive authority high flexibility in implementing the state’s medium-term financial plan for the years 2023, 2024, and 2025.
Saleh told {Al-Furat News} agency, “In implementation of the provisions of Article 2/77 of the law above, which stipulates that the government shall submit financial schedules related to expenditures, public revenues, and the planned deficit for the fiscal years 2024 and 2025, in order to provide a flexible space that allows for the implementation of the general budget efficiently and on a budget.” In accordance with the constants stipulated in Law No. 13 mentioned above.”
He pointed out that "the matter relates to the schedules for the fiscal year 2025 and the possibilities of approving expenditures that may arise in the next fiscal year, or the exhaustion of other expenditures whose deadlines have expired in terms of timing, or the expiration of expenditure commitments and the replacement of new commitments for expenditures during the next fiscal year, and in appreciation of the circ*mstances surrounding the economy."
Overall, the Federal Ministry of Finance, as a supreme financial authority, in cooperation with the Ministry of Planning (which is the ministry concerned with development projects and overall investment spending), will undoubtedly undertake to provide the necessary adjustments in the financial tables that will be presented for the year 2025 so that they can be studied, starting with the Ministerial Council for the Economy and in accordance with the contexts stipulated by it.
Federal Financial Management Law No. 6 of 2019, as amended, then the financial tables in question receive the approval of the Council of Ministers, so that they can be approved in the House of Representatives.”
At the same time, Saleh noted that “there is high and continuous coordination between the parliamentary finance committee concerned with following up and monitoring financial developments in the country and in accordance with the constitution, and between the plans, programs and mechanisms adopted by the financial authority in implementation, which are mutual constitutional guarantees to achieve the country’s supreme interests in development and economic stability.” "To the fullest extent." LINK
A Financial Expert Answers The Question: Why Are Iraq's Financial Reserves Not Increasing?
June 21, 2024 Baghdad/Iraq Observer Today, Friday, financial expert Mahmoud Dagher explained the reasons for not increasing Iraq’s financial reserves despite the rise in oil prices, in a blog he published in the “Iraq Observer” group on “WhatsApp,” in which
he stressed that Iraq’s financial reserves are not measured by their absolute size, but rather by their adequacy according to... For two basic indicators.
The first is the adequacy of reserves to cover imports without any exports, as
it is estimated that Iraq has sufficient reserves to cover its imports for up to 12 months, which is an excellent level.
The second is the coverage of foreign reserves of exported cash, which shows that the ratio is more than one, which is also considered good.
He added that although Iraq's financial reserves exceeded the $100 billion barrier,
these reserves are not increasing significantly due to two main factors.
The first is the rise in the central bank's daily sales to about $300 million to cover imports.
The second is the increase in public spending, especially the salary bill, which includes retirement, subsidies, and social care, which is approaching 100 trillion dinars.
Dagher stressed that the adequacy of reserves is good, but
relying on the oil economy alone poses a risk due to the possibility of a decline in oil prices.
He pointed out that the only solution for Iraq lies in diversifying sources of income and reducing spending, especially operational spending.
Without these reforms, Iraq cannot achieve sustainable economic stability that depends on employment, subsidies, and permanent support.
It is worth noting that Dagher is a distinguished financial expert who previously held the position of Director General at the Central Bank of Iraq. https://observeriraq.net/خبير-مالي-يجيب-على-تساؤل-لماذا-لا-ترتفع/
Economic Clarification: Why Do Iraq’s Reserves Not Rise Despite The Rise In Oil Prices?
Money and business Economy News – Baghdad Today, Friday, economic expert Mahmoud Dagher explained the reasons for the failure of Iraq's financial reserves to increase despite the rise in oil prices, while stressing that the country has no hope except by diversifying its output and pressuring spending, especially operational.
Dagher said in an interview with Al-Iqtisad News, “Reserves are not measured by size, but by adequacy, and there are two indicators of adequacy: the adequacy of reserves to cover imports without any exports, and I believe that it reaches Iraq with the existing reserve remaining for approximately 12 months, which is an excellent coverage of foreign reserves for exported currency.” ".
He added: "If we want to answer the question of why the reserves, which exceed 100 billion, do not increase despite the rise in oil prices, this is due to two reasons. The first is direct and is the result of the Central Bank’s sales rising to 300 million dollars per day to cover imports."
He pointed out, "The second reason is indirect and results from the increase in public spending, especially the salary bill, which, along with retirement, subsidies, and nationals, has reached close to 100 trillion."
The economic expert stated, "The adequacy of reserves is good; since Iraq is an oil economy, it is difficult to rely on adequacy alone due to the possibility of a decline in the price of a barrel."
160 views Added 06/21/2024 - https://economy-news.net/content.php?id=44468
Including Iraq.. The World Bank: 9 Major Countries Account For 75% Of Gas Burning
Energy Economy News - follow up A World Bank report confirmed that oil companies around the world burned the largest amount of natural gas associated with oil production last year in five years.
With only six years remaining to achieve the World Bank's goal of stopping spontaneous flaring of gas associated with oil production, companies burned an estimated 148 billion cubic meters of gas in 2023, an increase of seven percent from 2022, despite crude oil production rising only one percent during the same period. Period.
Natural gas is usually produced by oil exploration, and some companies choose to burn this gas instead of capturing and storing it because providing the necessary infrastructure to deal with it is not commercially viable.
The World Bank’s Global Monitoring Report on Spontaneous Gas Flaring stated that the growth in gas flaring has erased the effect of the reductions achieved in 2021 and 2022, and added that “global efforts to reduce spontaneous flaring of gas associated with oil production are not sustainable and there is a need to take urgent action.” ".
Eliminating this practice would reduce at least 381 million tons of carbon dioxide equivalent from harmful emissions released into the atmosphere.
ne major oil-producing countries account for 75 percent of gas flaring and 46 percent of oil production.
These countries are Russia, Iran, Iraq, the United States, Venezuela, Algeria, Libya, Nigeria and Mexico, according to the order of the quantities of gas burned.
The report stated that Algeria and Venezuela reduced spontaneous combustion, but these gains were eroded by Iran, Russia, the United States, Libya and other countries.
The World Bank, in cooperation with the Colorado School of Mines in the United States, relied on data from satellites to calculate spontaneous combustion data. Views 181 06/21/2024 - https://economy-news.net/content.php?id=44460
Revealing A Comprehensive Government Plan To Recover The Stolen Funds
Political | 11:21 - 06/21/2024 Baghdad/Mawazine News.. The Prime Minister’s Advisor for Oversight and Integrity, Muayad Al-Saadi, revealed today, Friday, the existence of a comprehensive plan to combat corruption and recover smuggled funds.
Al-Saadi said, in a statement, that “Prime Minister Muhammad Shiaa Al-Sudani paid great attention and daily follow-up to anti-corruption measures, and worked in different directions,” noting that “teams were formed to receive news and reports about corruption, follow up on them, uncover them, and refer them to the Integrity and Public Prosecution Commission for the purpose of holding violators accountable.” We will pursue them and recover the money.”
He continued, "Among the trends that have been focused on is the periodic evaluation through semi-annual and annual reports through the regulatory agencies that follow up on the procedures of ministries and governorates in the field of combating corruption on a daily basis, as well as the issue of digital transformation and the procedures of the unified storage system for the purpose of controlling, following up and knowing funds." Balances and their movement,” noting that “all of these measures serve to combat corruption.”
He added, "The Prime Minister provided unlimited support to the Integrity Commission, the Financial Supervision Bureau, and law enforcement agencies, in order to recover funds and fugitive fugitives by providing all facilities," noting, "The procedures resulted in bringing in the fugitive defendants and depositing them with law enforcement agencies for the purpose of issuing special rulings." “With them.”
Al-Saadi pointed out, “There is a fund to recover the former regime’s funds, which operates according to its own law,” stressing that “a lot of money has been recovered, most recently from Swiss banks, where it was deposited in the Central Bank.” https://www.mawazin.net/Details.aspx?jimare=249998
To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/
Provoking Thoughts and Points To Ponder On Adversity:
If you have to be careful because of oppression and censorship, this pressure produces diamonds. -Tatyana Tolstaya
Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger.-Lou Holtz
It is not in the still calm of life, or the repose of a pacific station, that great characters are formed. ... Great necessities call out great virtues.-Abigail Adams
Of all the advantages which come to any young man ... poverty is the greatest. -Josiah G. Holland
My luck was my father not striking oil... we'd have been rich. I'd never have set out for Hollywood with my camera, and I'd have had a lot less interesting life. -King Vidor
http://famousquotesandauthors.com/topics/adversity_quotes.html
Read More
Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20
IQD Update - Iraq Dinar - Investment Law - Implementation Tripartite Budget - Race Against Time -
MilitiaMan and Crew: 6-21-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IQD Update - Iraq Dinar - Investment Law - Implementation Tripartite Budget - Race Against Time -
MilitiaMan and Crew: 6-21-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Read More
Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8
Goldilocks' Comments and Global Economic News Friday Afternoon 6-21-24
Good Afternoon Dinar Recaps,
"Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow.
* Stablecoin issuers are the world's 18th biggest holders of U.S. debt.
* Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law.
Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow."
Goldilocks' Comments and Global Economic News Friday Afternoon 6-21-24
Good Afternoon Dinar Recaps,
"Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow.
* Stablecoin issuers are the world's 18th biggest holders of U.S. debt.
* Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law.
Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington's debt management grow."
👆Look for a stablecoin regulation to move into high gear now due to the above article information.
What are stablecoins backed by? You got it. Commodities. CoinDesk
© Goldilocks
~~~~~~~~~
Folks, Are you paying attention?
Owing to new European Union rules on stablecoins, we will no longer support the following assets from July 1st 2024:
DAI
FRAX
GUSD
USDP
TUSD
USDT
We'll continue supporting USDC, EURC and PYUSD
Wow !!!!
Why are these crypto stable coins being removed from uphold ?
Well it’s because they simply aren’t stable !
Remember MICA ?
MiCA establishes a framework for crypto-assets in the EU, covering their issuance, trading, offering, and custody. It also includes rules for stablecoins, licensing requirements for CASPs, and consumer protection measures. Some of the rules that will apply on June 30, 2024 include:
• Stablecoins Only credit institutions (banks) and electronic money institutions (EMIs) will be able to issue stablecoins, promote their purchase, and request that trading platforms list.
• Crypto custodians Crypto custodians are liable to their clients for the loss of crypto-assets or access to them if the incident is their fault
Big Dog
~~~~~~~~~
"In a market economy, a country's currency value is determined by supply and demand, just like other goods and services.When demand for a currency increases, it appreciates, or becomes stronger and more valuable.When demand decreases, it depreciates, or becomes weaker and less valuable." |Investopedia
"Yes, economic activity, including market interest rates, gross domestic product, and unemployment rate, can affect exchange rates.These rates are often called market exchange rates and are set in the global financial marketplace by banks and other financial institutions.Exchange rates can change hourly or daily, and can be small or large shifts." |Investopedia
I thought I would give you an idea of what's happening with Vietnam when they go to a Market Economy. Just so you know, supply and demand will determine their new exchange rates when they change their monetary policy to move into a Market Economy.
Both the United States and Russia have recently signed a Comprehensive Strategic Partnership with Vietnam. These two countries recognize Vietnam's capacity to step up to the plate, and into, a higher level playing field with their economies along with all the rights and privileges that go with it.
In a previous article, we were told that Vietnam would make this transition by the end of July 2024. The Investor English News
© Goldilocks
~~~~~~~~~
Hong Kong Announcement: "Hong Kong Treasury chief: We’re leading in Web3 with digital currency ETFs, enabling regulations"
This article is an advertisem*nt of what Hong Kong offers going forward on their international market exchange locally and cross borders.
They offer the full arrangement of a regulated cryptosystem capable of using stablecoins worldwide.
Hong Kong has the ability to trade in multi-currency accounts through cryptos fully regulated in their financial system. CoinGeek
© Goldilocks
~~~~~~~~~
A New Era in Iraq's Relations with the West? "Amid growing pressure to dissolve the coalition and withdraw troops, the United States and its partners should continue pursuing good relations with Baghdad -- but this time with a lighter footprint and increased regional cooperation."
Currently, Iraq has a "mixed economic system" with aspects of it that is private and many parts of it regulated and governed by the government.
They are currently in transition and expected to meet goals to reclaim their independence as the year goes forward.
Expectations from previous articles state that they are to become their own market economy by the end of the year.
Their move towards independence as a nation and less guidance from government bodies outside of their own is currently in process. Iraq Business News Washington Institute
© Goldilocks
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Supreme Court decision upholds Trump-era tax on offshore earnings -The Washington Post
~~~~~~~~~
Revolutionizing Voting Systems Through Blockchain Innovations |Smart Phone Magazine
~~~~~~~~~
Cash flow is the lifeblood of any business.That’s why many of the most exciting innovations within payments are aimed at helping businesses build better balance sheets and support healthy growth.
And with the advent of instant payments, the first new domestic payments rail in half a century, there is a new — and better — way to pay in the U.S.A.|Pymnts
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The Rising Economy Of Vietnam | Asia's Next Emerging Powerhouse? |Youtube
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Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance –Altcoins Bitcoin
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Cryptocurrency 2024: SEC Enforcement, State Regulation, and the Need for Clarity |Youtube
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BREAKING NEWS: Changes in the Developing Road Project #iraq|Youtube
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America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee |Youtube
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Crypto 101: What is a Node? |Youtube
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Is It Too Late To Get Into Crypto? |Youtube
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