Wednesday, April 24, 2024
Al-Sudani directs the ministers to follow up on the implementation of the memorandums of understanding concluded with America and Turkey, 24 APRIL
Al-Sudani directs the ministers to follow up on the implementation of the memorandums of understanding concluded with America and Turkey
Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed the ministers to follow up on the implementation of the memorandums of understanding and agreements signed with the United States and Turkey.
Al-Sudani’s office stated in a statement received by Mawazine News, “Prime Minister Muhammad Shia’ al-Sudani reviewed, at the beginning of the Council of Ministers today, the results of his official visit to the United States this month, which produced results that are in favor of Iraq in terms of economy, politics, security, and regional stability.”
In the interest of building bilateral strategic relations, in addition to signing a number of memorandums of understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”
The statement added, "Al-Sudani also reviewed the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey and Qatar."
And the UAE, regarding the development road project, the investment opportunities it brings, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”
During the session, the Prime Minister directed the ministers to “follow up the implementation of the memorandums of understanding, and provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the states.” United States and Turkey. link
"RV UPDATE" BY Reinaldo JC VIA WOLVERINE, 24 APRIL
WOLVERINE
🚨Iraq: Finance Committee-The 2024 Budget Schedule Will Arrive To Parliament Next Week!!!!
Budget Approval Can Not Happen Without a Rate Change IMO they are working on the final numbers for approval after signing all agreements contracts😉
Legal Expert Al-Tamimi confirmed-“Approving amendments to the budget schedules is dealt with constitutionally, as in the case of approving the budget law, because the schedules are an integral part of the entire law."
Finance Committee Member Al-Karawi: "There is a possibility to send the 2024 budget and approve it before the legislative recess of the House of Representatives begins next May 9."
💥In Other Words-Parliament CANNOT enjoy its legislative recess UNTIL AFTER voting on the amendments to the schedules in the event that they reach the Council.
🗣️Al Sudani-The Floor is Yours Sir as The Entire World Awaits 🔥🔥🔥
*ONLY A SELECT FEW KNOWS THE EXACT DATE & RATE CHANGE. imo
-Iraq 🇮🇶
Reinaldo JC
@SmoothRey
Coffee with MarkZ and Andy Schectman. 04/24/2024
Zimbabwe’s Introduction to a New Gold-Backed Currency Led to a Stock Market Slump, 24 APRIL
Zimbabwe’s Introduction to a New Gold-Backed Currency Led to a Stock Market Slump
Zimbabwe’s New Currency Leads to a Stock Market Wipeout
Story by Kailas Salunkhe, TIPRANKS, on MSN
Earlier this month, Zimbabwe introduced a new gold (CM:XAUUSD)-backed currency, called the ZiG (Zimbabwe Gold). However, even a well-intentioned path to fiscal prudence can become paved with unintended setbacks, including a stock market wipeout.
Zimbabwe’s Stock Market Slump
The introduction of the ZiG has resulted in a difficult-to-digest 99.95% wipeout in the Zimbabwe Stock Exchange All Share Index so far this month. This major change required local institutions and businesses to reconfigure their systems to accommodate the new currency, resulting in the rebasing of share prices for all listed companies in the country. According to Bloomberg, investors rushed into stocks prior to the conversion to escape inflation and the collapse of the local dollar (Zimbabwe’s previous currency).
However, the trading volumes and the value of transactions on the exchange have plunged after share prices were rebased in the new currency. The low trading volumes are also taking a toll on the country’s stockbroking industry.
Meanwhile, many Zimbabweans still prefer to transact in the more stable U.S. Dollar. This preference has led to a black market, where the ZiG is trading at nearly 20 ZiG for 1 USD. The official exchange rate from the Zimbabwean authorities is 13 ZiG to 1 USD.
Next Steps
As Zimbabwe embarks on its sixth attempt to introduce a stable and credible currency, the next significant milestone approaches on April 30. This marks the introduction of physical notes and coins in the new currency for circulation across the country.
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