GOLDILOCKS:
Google and UPI Announcement:
Today, Google's partnership with India takes the UPI payment system global.
FREEDOM FIGHTER
What this post by Goldiocks shows is an announcement by Google that they have partnered with UPI thus it becoming a global payment system.
UPI has already been approved by the global regulators. Countries like Iraq , Vietnam , Indonesia and others are going through the testing phase of the system
Communications discusses the implementation of issuing biometric identity to employees of government departments
Minister of Communications, Hiyam Al-Yasiri, chaired the meeting of the executive team to issue biometric identification for employees of government departments, in the presence of a number of officials in ministries and government institutions.
The Ministry stated in a statement: “The meeting included a discussion of the possible steps and the next stages that will be finally approved, in order to prepare the approved standards for implementation. The material and technical capabilities available to the government agencies charged with issuing the identity to be a government identifier were also discussed.”
It is noteworthy that the project is currently in the process of completing the organizational and administrative procedures and submitting the recommendations proposed by the executive team to be presented to higher authorities for approval. link
Pimpy
Iraq has a few more things they really have to fix. Taxation [and] their tax system in general. In addition to that they have to learn how to balance a budget...Balancing their budget, fixing their tax system would go a long ways in Iraq...
If you increase your money supply that is going to cause the value of your currency to go down. Think supply and demand. The more you have of something the less valuable it is. What does that mean?
You have to get rid of the 3-zeros. By getting rid of the 3 zeros you need less bills to make purchases...
90% of Iraq's exports are in oil... Remember Iraq wants to be competitive in the trade market. Increases in their exchange rate would cause the items they are exporting to go up in cost. Since 90% of the exports is oil, this is different...An increase in Iraq's exchange rate could lead to a stronger Iraqi dinar relative to other currencies. This would mean for each unit of oil sold, Iraq would receive more foreign currency.
Iraq's revenues from oil exports could potentially rise. So they can increase their exchange rate and what they could do to balance that increase in their exchange rate is either increase or decrease their oil production...We also know their foreign currency reserves have increased to $115 billion. Increasing the exchange rate would also increase their currency holding, which is good because they can us that to protect the Iraqi dinar. Increasing the exchange rate would benefit Iraq big time.
Parliamentary Oil: Kurdish obstacles prevent the resolution of the “Oil and Gas” law
Kazem Al-Touki, a member of the Parliamentary Oil and Gas Committee, confirmed on Monday that the Kurds have placed obstacles to resolving and ending the oil and gas law and handing it over to Parliament for reading and voting on it.
Al-Touki told Al-Maalouma, “Members of the Oil and Gas Committee communicated and moved towards the political parties and heads of blocs in order to end the problems of the Oil and Gas Law and ensure its passage in Parliament.”
He added, "Prime Minister Muhammad Shiaa Al-Sudani continues to move to end the aforementioned law, and to reach a consensus formula agreed upon by everyone in order to resolve the law and vote on it, especially since the government program focused on this file."
He stated that "the Kurds do not have the seriousness to resolve the oil and gas law, and obstacles have been placed in front of this law, which now needs political consensus before it is sent to the House of Representatives for the purpose of reading and voting on it." link
Mnt Goat
...the hot topic in the CBI, as my contact told me...is that the CBI is working towards getting the parallel black market rate in check with the “official” CBI rate of the dinar. I asked my contact why the past plan to end this crisis has not yet ended it?
I was told it is taking more than expected for the measures underway to take hold, but that they will eventually end the crisis and the rate will come down..
I then asked about the “basket of currencies” we been hearing about to re-peg the dinar. I was told this is coming but they can’t peg the current in-country rate until they resolve the parallel market crisis and move to FOREX.
This is exactly what I wanted and needed to hear. This falls directly in-line with the 2011 Dr. Shabibi plan I have talked so much about already. So all is very good in my eyes as far as this process goes.
