Article: "Does deleting the currency’s zeros affect its value? An economist explains"
THE CBI IS SENDING TRUSTED ECONOMISTS TO EXPLAIN THE MONETARY REFORM EDUCATION OF DELETING THE ZEROS FROM THE EXCHANGE RATE! IMO they're about to give the citizens a new exchange rate with new lower notes to match...They already told them that process will then take that exchange rate, which will be at least 1 to 1 but I think is going to be higher, to float in the basket internationally.
Article: "The dinar and its three zeros - is it time to symak the dinar and return to the dinar 1980" IMO [symak means make]
What's so big about 1980?
So you want to return the dinar to the 1980's? By 1971, '72, '73, the Iraqi dinar on the international market was $3.778. Then...it was reduced on purpose to $3.2169 in 1980.
Iraq is one step ahead of us. The Iraqi citizens...are already taking their 3-zero notes and taking them to the bank and opening accounts because they know the monetary reform has educated them...All of a sudden bank accounts just exploded in Iraqi banks...
Parliamentary Finance calls on the World Bank to develop the Iraqi banking system, 27 FEB
Economy News _ Baghdad
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, on Tuesday, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop the Iraqi banking system.
The media office of the Presidency of the Parliament said in a statement received by “Economy News”, that “the head of the Finance Committee, Atwan Al-Atwani, participated through a closed-circuit television, in the deliberative meeting of the International Monetary Fund on the financial and economic situation in Iraq.”
The office added that “Al-Atwani provided a briefing on the financial and economic situation and the provisions and programs included in the Triennial Budget Law (2023 _ 2025) in line with the government program to promote various sectors, activate the private sector, encourage investment and support investors, in order to achieve sustainable development.”
According to the statement, Al-Atwani stressed that “the adoption of the tripartite budget gave the government great comfort in terms of contracting, implementing projects and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending, financing and implementing plans and programs, seeks integration between the legislative and executive authorities, because we want this government to succeed, especially as it is taking steady steps towards achieving the aspirations of the people.”
The head of the committee pointed out that “the national service government is serious about moving the wheel of the economy and development and has ambitious programs to promote various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in the formation of the general budget.”
Al-Atwani called on the International Monetary Fund and the World Bank to “provide the necessary support to Iraq in the fields of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial transaction system, tax automation, customs and other service sectors that generate financial revenues for the country.”
We are clearly witnessing a shift in money flows regarding Treasury Bonds. The Global Economy is already changing the way we live and how we invest in the future.
Investor sentiment is changing. The move from intermediate term Treasury Bonds to bonds with maturity dates of two, three, five, and even 10 years out are getting a second look.
Society is realizing that our economy is in transition, and many investors are beginning to pour their money into longer term opportunities to grow their money. It looks like people are beginning to bank on a brighter future.
As our tokenized assets settle into new price patterns, the new digital gold economy will bring in new life inside a QFS.
The Volume Of Trade Exchange Between Iraq And Syria Exceeds One Billion Dollars
Economy 02-27-2024 | Al-Sumaria News – Economy The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq and Syria has exceeded the billion-dollar barrier, while pointing out the existence of a mechanism to adopt currencies other than the dollar in this exchange.
Sheikh Zaini said, “The joint committees between the two countries are looking for a mechanism for trade exchange away from the dollar, since Syria currently exchanges in the European currency (the euro),” according to the official Al-Sabah newspaper.
He added, "There are other platforms and currencies that Syria exchanges with other countries, and Iraq may benefit from them in the event of trade with them, especially with the volume of exchange between the two countries reaching more than a billion dollars annually."
He stated that "the two countries may use the Russian ruble, the Japanese yen, the Chinese yuan, the Emirati dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the dollar and creating another platform in this regard."
He pointed out that "the use of other currencies in trade exchange between Iraq and Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."
He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, and everything related to food and medicine. They supervise the entry routes for goods and seek to overcome many obstacles that may hinder joint trade between the two countries." LINK
" Hoy, Argelia, Comoras, Irak, la República Libanesa, Libia, Somalia, Sudán y la República Árabe Siria están en proceso de adhesión al Artículo XII..."
Ocho países se adhirieron ayer a la OMC. Irak fue uno de ellos. Está en el sitio web de la OMC. La reunión de la OMC finaliza el 29 de febrero. ~ acebo