FIREFLY: We are being told about the budget but not in its entirety. Sudani wants to break it down and tell us about 10 different things that are in that budget. Apparently he wants some amendments or articles to be done. We’re not sure if he’s changing anything or if he’s adding on to it. But he says it’s for us, the Iraqi citizens. We believe him. We trust him and we’re with him.
FRANK: Have they shown you the operations of the budget yet today?
FIREFLY: They just started to analyze it and go over it. We believe throughout the week we will be getting more and more information about the budget as it sits. As far as the exchange rate – nothing yet on it.
There is no CBI talking. There is no article talking about the exchange rate. We don’t see Alaq explaining about the de-dollarization, about the new currency, about the ATMs. In other words everything that was hot just this past week is not hot. It’s back to the GOI. It’s back to the budget…it’s back to the reforms. All of that needs a new exchange rate.
Entry Submitted by David Harkness at 4:14 AM ET on July 6, 2023
I have just visited the IMF rates it’s their first post since 30 June.
It’s dated 5 July and all middle eastern currencies are now on the page (they have been absent since 30 June) these currencies have already been set long ago.
I have visited the Fed Treasury back office their rate is still 0.1815c usd for one Iraq Dinar as at 30 June 2023.
Using the NEER calculation on Iraq Dinar against Middle Eastern currencies the value today at IMF back office demonstrates for one Iraq Dinar to equal 0.1806c USD.
The VND back office right now is 0.4215c usd and IDR 0.6641c.
I still expect the RV any day up to 12 July USA time.
Given the ECB has had a reset of their banking systems last night 5 July 2023 (changed to a new banking system) action should start today Europe time and flow through until next Tuesday I am told
So one would expect the RV to become public by no later than 12 July.
CompiledThurs. 6 July 2023 12:01 am ESTby Judy Byington, MSW, LCSW, Therapist ret, Journalist, Author: “Twenty Two Faces: inside the extraordinary life of Jenny Hill and her Twenty Two Multiple Personalities”
4,000+ Banks Set To Fail, Bank Runs Imminent …Christian Patriot News
It’s only wise to have at least a month’s supply of food, cash, water and essential items on hand.
“The Essentials of Freedom”
July 2, 2023 – #4894 Music & the Spoken Word (thetabernaclechoir.org)
Freedom is not just a feeling, or an institutional pronouncement. Freedom is found in what we do each day, in the efforts and actions of free people: respect, compassion, peacemaking and understanding.
WARNING: There are reports of some asking for you to hand over your foreign currencies and/or Zim Bonds to them saying they will exchange or redeem them for you. DO NOT give in to this scam. Only the purchaser of the currency or bond can legally exchange or redeem that currency or bond at a Redemption Center for the higher rates. The exception is if you have given someone currency or bonds, along with a notarized gift letter saying you have done so. If someone tries to turn in your currency or bonds without your authorization they could be arrested.
Global Currency Revaluation:
On Fri. 30 June the US Inc. Federal Reserve and US Inc. Treasury were asked to hand over all their assets as they were unable to pay back the Global Repository the quadrillions owed.
On Sat. 1 July the new Quantum Financial System interfaced in computers around the World so as to coordinate currency transactions through the International Payment System ISO 20022. Also on Sat. 1 July the fiat US Dollar transferred into a gold/asset-backed US Note.
Harambe: Zimdollar remains the sole legal tender - Bulawayo24 News (7/5/23)
THE Government has reiterated that the Zimbabwe dollar remains the sole legal tender and nothing can be billed exclusively in foreign currency without special exemption.
This follows the continuous blatant disrespect for this directive on the part of several local authorities, Government departments, agencies and other organisations, which are either issuing notices to the contrary or keep charging for services only in United States dollars.
Harare City Council attempted to switch to US dollar rates collection last week but the Government shot down the illegal attempt a day later, making it clear that the Zimbabwe dollar was the only legal currency and that billing for services in foreign currency could only be done if provided for by law.
In a statement yesterday, the Ministry of Finance and Economic Development said charging exclusively in foreign currency was not only in contravention of the law, but also militated against Government policy.
"On May 29, 2023, Government directed that all Government agencies including local authorities should collect fees and levies in local currency in order to promote the wider use of domestic currency.
"However, Government notes with concern the outright disregard of this directive by certain local authorities and Government agencies who either have gone ahead to issue notices to the contrary or continue charging services exclusively in United States dollars. The City of Harare is one such case in point," reads the statement.
The ministry also reminded all Government agencies and local authorities to comply with the Government directive with immediate effect.
"For the avoidance of doubt, transactions that are excluded from the scope of domestic transactions are clearly stated in the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations, 2019 published in Statutory Instrument (SI) 212 of 2019 and these do not include billing of rates by local authorities and charging of services by Government agencies.
"Government remains committed to the broad use of local currency for domestic transactions which started in 2019 when Government adopted the use of the Zimbabwe dollar."
According to SI 85 of 2020, persons with free funds cannot be compelled to pay in foreign currency. The ministry also cited several legal instruments that were promulgated by the Government to facilitate the re-introduction of the Zimbabwe dollar including Statutory Instrument 142 of 2019, which effectively ended the multi-currency system and determined the "Zimbabwe dollar" as the sole legal trading currency in the country.
"This made the ZWL the sole legal tender for all settlements in Zimbabwe and any billing for services in foreign currencies can only be done if provided for by the law or if exempted in terms of the Exchange Control Regulations.''
A few weeks ago, Government announced additional measures to encourage the use of the local dollar as opposed to the US dollar, in a bid to boost the local unit and tame rising consumer inflation.
The measures include a directive that all Government departments collect fees in local currency, the introduction of a 1 percent tax on all foreign payments and that all customs duty be payable in local currency, with the exception of designated or luxury goods and where an importer opts to pay in foreign currency.
Resultantly, the Zimbabwe dollar has been gaining against the US dollar and yesterday, it firmed again by another 7 percent on the wholesale auction for banks stocking up on foreign currency, and the much smaller auction for large direct importers, with the weighted average now $5 395,9619 to US$1.
This has brought the total gain in the value of the Zimbabwe dollar to 22 percent since the local currency bottomed out in value.
Under the National Development Strategy 1, Government has made considerable progress in fostering macroeconomic stability by implementing a broad range of fiscal and monetary stabilisation measures.
Of late, there has been notable stability in the economy, the exchange rate and general prices of goods and services.