Thursday, February 29, 2024
Al-Sudani: The investment environment in Iraq has become promising, welcoming and open, 29 FEB
Al-Sudani: The investment environment in Iraq has become promising, welcoming and open, 29 FEB
On Thursday, Prime Minister Muhammad Shiaa Al-Sudani described Iraq’s investment environment as “promising, welcoming and open after the financial, administrative and banking reforms carried out by the government he heads.”
This came during his reception of a delegation from the Turkish company Limak, which specializes in transportation and construction projects, headed by the company’s founder Nihat Ozdemir, according to a statement issued by the Presidency of the Council of Ministers.
At the beginning of the meeting, Al-Sudani pointed out the investment and development opportunities that the company can contribute to in Iraq, especially in the areas of infrastructure and transportation projects, and what is related to the development road projects and the Grand Al-Faw Port, as well as road, bridge and industrial city projects in various governorates.
The Iraqi Prime Minister reiterated the government's welcome of companies with high technical and operational experience, explaining that the investment environment in Iraq has become a promising, welcoming and open environment, especially after the financial, administrative and banking reforms took their course, and the private sector was qualified to conclude fruitful partnerships with international companies. link
"RV UPDATE" BY HERNAN R BRAVO, (ENGLISH & SPANISH), 29 FEB
Wednesday February 28, 2024
If all goes as expected, we may have a three-day celebration starting around THURSDAY, FEBRUARY 29.
The rates for the Coins with the objective of the Revaluation being ready for FRIDAY, MARCH 01, 2024.
God bless you
J.B.
By Hernán Robert Hbravo
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TRANSLATE SPANISH:
Miércoles 28 febrero de 2024
A Movement To List Government Bonds In The Markets, 29 FEB
A Movement To List Government Bonds In The Markets, 29 FEB
Market Economy News – Baghdad On Monday, the Iraqi Securities Commission explained the importance of government bonds, stressing that they provide financial liquidity for investment projects, while indicating that there is a movement from the Central Bank to list government bonds in the markets.
The Chairman of the Authority, Faisal Al-Haims, said in a statement reported by the official news agency and seen by Al-Iqtisad News, that “three issues of government bonds were issued, as the first and second issues were launched, and now there is the third issue.” He pointed out,
"There are requests from the Central Bank of Iraq to list these bonds on the market," indicating that
"those bonds are debt securities owed by the Iraqi government, in exchange for interest given to the owner of this bond."
He stressed, "This measure will provide financial liquidity for the investment projects launched by the Prime Minister and his government," suggesting that they "will be crowned with goodness and success for the Iraqis."
Government bonds are a type of debt-based investment, where you lend money to the government in exchange for an agreed interest rate.
Governments use them to raise money that can be spent on infrastructure or new projects, and
investors can use them to obtain set returns that are paid at regular intervals.
335 views 02/26/2024 - https://economy-news.net/content.php?id=40882
How Countries Can Successfully Reinstate a Gold Standard, 29 FEB
How Countries Can Successfully Reinstate a Gold Standard
On February 27, 2024
By Awake-In-3D
In recent discussions around monetary policy and financial stability, the idea of returning to a Gold Standard has resurfaced as a topic of considerable interest.
Historically, various nations, including the United States, Britain, and Japan, have adopted and then moved away from the Gold Standard at different points in their economic histories.
The process, while not new, presents a range of methods and implications worth exploring in today’s economic context.
Here I would like to demystify the process and implications of reinstating a Gold Standard, breaking down the complex subject matter into understandable terms.
Discussing the deeper GCR mechanisms, such as global gold unit of value and purchasing power parity between currencies, is beyond the scope of this article.
Understanding the Gold Standard
Simply put, a Gold Standard is a monetary system where a country’s currency has a value directly linked to gold. Countries that adopt the Gold Standard agree to convert paper money into a fixed amount of gold upon request.
The benefit of such a system lies in its ability to provide a stable and reliable currency value, contrasting sharply with the fiat currencies most countries use today, which are not backed by physical commodities.
The Three Roads to a Gold Standard
Historically, there have been three primary methods to transition back to a Gold Standard, each with its own set of considerations.
- Returning to a Prior Parity: This method involves reinstating a gold value that was used in the past. It’s feasible only when the currency hasn’t strayed too far from this historical value. A prime example is the United States in 1879, which reverted to its pre-Civil War gold parity after a period of devaluation. This approach offers a straightforward transition under specific conditions but is limited by the extent of currency devaluation that has occurred since the last parity was used.
- Adopting a Figure Close to the Current Trading Value: When returning to a historical parity isn’t viable due to significant currency devaluation, a country might set a new gold value close to the market’s current trading rate. This approach was taken by France after World War I. It allows for a more practical transition but requires careful consideration of economic impacts, including potential inflation or deflation as the market adjusts to the new standard.
- Introducing a New Currency: In cases where the existing currency is severely devalued or destabilized, a country might opt to introduce a completely new currency with a gold value chosen at will. This method effectively starts the monetary system from scratch, offering a clean slate after economic crises such as hyperinflation. While it signals a fresh beginning, it’s typically a measure of last resort, reflecting profound economic disruptions.
Economic Implications for Returning to a Gold Standard
The transition to a Gold Standard, regardless of the method chosen, is not without its economic challenges.
For instance, setting a gold value significantly higher than the current currency value could lead to prolonged periods of price adjustment and potential recession, as seen historically.
However, examples from France in 1926 and Russia in the early 2000s demonstrate that with strategic tax reforms, countries can mitigate recessionary impacts and even achieve economic booms.
Ultimately, the decision to return to a Gold Standard involves balancing historical precedents with current economic realities.
The principle of stable money and low taxes emerges as a guiding formula for success, suggesting that a strategically planned approach to reinstating a Gold Standard would lead to substantial economic benefits for all nations.
The major consideration today, given how global trade and financial networks are all interconnected, is how each country’s gold-backed currency would be relative to each other in the context of currency exchange rates.
This is important, because never in the history of world has the entire planet orchestrated an interconnected system of different gold-backed currencies.
It’s also why the GCR is very complex and requires a highly sophisticated system of processes and management.
Historical Examples of Nations Reinstating Gold Standards
United States (1879): Returned to pre-civil war parity at $20.67/oz after the Civil War devaluation, where the dollar’s value had dropped but was still relatively close to its original value.
France (1926): Adjusted to a new parity after the franc’s value decreased significantly, reflecting a pragmatic approach to severe currency devaluation. The franc was successfully repegged to gold at a rate that reflected a 5:1 devaluation but combined this with tax rate reductions and infrastructure development, leading to economic growth.
Russia (post-1998 devaluation): Stabilized the ruble against the dollar at the prevailing rate after introducing a flat tax in 2001, which led to a period of economic improvement.
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