Sunday, June 30, 2024
Economist reveals the main factors that influenced the implementation of the Maronites, 30 June
Economist reveals the main factors that influenced the implementation of the Maronites
Former Director of the Financial Supervision Bureau, Salah Nouri, revealed today, Friday, the basic factors that influenced the implementation of the budget approval.
Nouri told Al Furat News Agency: “The main factors affecting the proper implementation of the Maronites are:
_Approval of the budget early, at least in the third month of the fiscal year
_Accuracy of financial allocations according to the priorities of the government program
-The speed of cash financing for public spending units. This concerns the duties of the Ministries of Finance and Planning, the Council of Ministers, and the Representatives
As for the executive departments, Salah added, “Transparency, integrity and quality in the use and spending of funds according to the approved financial allocations.”
He stated, “The efficiency of the executive human resources in the public spending units, based on the basics of implementing the aforementioned general budget, will greatly affect the achievement this year in terms of delays in approving the budget and delays in financing, in addition to the weakness of efficiency, transparency, integrity, and quality, especially in investment projects.” link
" ABOUT ZIMBABWE'S NEW GOLD-BACKED CURRENCY" BY GOLDILOCKS, 30 JUNE
GOLDILOCKS
The International Monetary Fund (IMF) announced that Zimbabwe's new gold-backed currency has stabilized the nation's economy. This currency, introduced in April, is supported by 2.5 tons of gold and $100 million in foreign currency reserves.
In a June 27 statement released following an Article IV consultation mission, the institution noted that the official exchange rate of the Zimbabwe Gold (ZiG) has remained stable, ending the economic instability seen in early 2024. During that period, the Zimbabwean dollar lost about 260% of its value against the US dollar.
https://www.ecofinagency.com/public-management/2806-45679-zimbabwes-gold-backed-currency-brings-stability-imf-says
Will the state adopt the provision of sovereign guarantees to finance private industrial projects?, 30 JUNE
Will the state adopt the provision of sovereign guarantees to finance private industrial projects?
The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Friday, that the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects.
Saleh told Al Furat News Agency: “There is a fundamental link in financing and implementation adopted by the government program and general policy in development, and its basics are summarized in the high implementation of the listed and ongoing government investment projects that faced procrastination and halting for many years.”
He added, "The current investment program is based on completing the implementation of investment projects without interruption and in accordance with the financial resources allocated to them included in the Federal General Budget Law, while ensuring the sustainability of the funding sources necessary for the continuation of implementation, especially in the field of high-service infrastructure such as projects to develop electricity, drinking water, roads, sewers, etc., with priority that touches the lives of citizens."
He pointed out: "Based on the above, the increase in revenues is one of the important financing levers in overcoming the problems that were facing government projects, which are called (slowed), and which have now entered into implementation and completion, in accordance with the approved policy (No more slowed projects)."
He expressed: "Therefore, there is a clear correlation between the capacity to implement urban projects in the country and the growth of public revenue sources (whether oil or non-oil) and harnessing their high financial flows to serve the requirements of economic development in our country in a way that maximizes the gross domestic product and provides high and sustainable employment sources at the same time.
The private sector assumes an important responsibility in implementation as it is the effective strategic partner in developing the Iraqi economy and advancing its infrastructure and various production activities."
Saleh noted that "the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of civil industrial projects, most notably projects to produce industrial and construction outputs related to the advancement of reconstruction, housing and infrastructure, with sovereign guarantees for the private sector amounting to 85% of the value of private activity, specifically industrial activity." link
LATEST FROM MIKE BARA, 30 JUNE
MIKE BARA
Once again, the "bondholder" has been told he will be paid this week. I was told what day, but cannot share it. I will keep you notified as rum-tel warrants.
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MIKE BARA
The “Bondholder” still has not been paid. He is expecting a call today.
Other than the MarkZ report that an announcement about lower denominations has been made in Iraq, There is nothing else to put out right now.
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MIKE BARA
The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.
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Word from a source just received:
He got a call from a high banking source at a major bank in the south. “You’ve been bugging me about this for ten years. Well, congratulations buddy. Your dream is about to come true.”
SOURCE: “What do you mean?”
BANKER: “We just got a letter from headquarters informing us to get ready because ‘The Iraqi Dinar is revaluing extremely soon.’”
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The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.
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The "Bondholder" is once again certain he gets paid out on Tuesday, but he is returning to his city of origin tomorrow. He HAS to be in this location to get his payout. This means the payout COULD come sooner than Tuesday. More as I get it...
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š¢Mike Bara: High WF banking sources are telling people who hold currency not to bother taking any contracts for work longer than a week or two — no matter how much money is involved.
We are almost there, folks…
š¢ Gezelle, Liberty Lounger Extraordinaire, offers clarification for those who might be a little confused
➡️ They are advising not to take any contracts for work (self-employed people) for more than max 2 weeks.
6.21.24
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š¢ Update from Mike Bara 6.15.24
š¢Mike: OK, I hate to be the Bara of bad tidings, but I just got info from "The Bondholder" — who is not a bond holder but a bond broker waiting to be paid commissions by the US government for bringing in historic bonds — to the effect that he won't be paid until Tuesday.
We were hoping he'd been paid already. This would clear the way for Tier 4B, us, to be paid out.
We were all hoping and waiting for some announcement or notifications this weekend.
That can still happen, but IMO we don't get paid until after guys like him get paid. So we wait... and hope.
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mike-bara-16-june.html
https://dinarevaluation.blogspot.com/2024/06/summary-of-rv-updates-by-mike-bara-30.html
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