FRANK26: "BECAUSE... THE NEW LOWER NOTES ARE READY TO MARCH!!!".......F26
Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
5/1/2024 Baghdad,
Economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar.
Qusay said, in a televised interview followed by Mawazine News, that “oil revenues rose during the first three months of this year, and this is thanks to the current government’s policy and with Muhammad Shiaa Al-Sudani personally supervising this success.”
He added, "Iraq currently embraces more than 600 investment projects, including the Baghdad Metro."
He pointed out, "Iraq has completed all its financial needs, and the rest of it needs the price of a barrel of oil to reach only $96 to cover the financial deficit."
He pointed out that "there should be rationalization and advice in local financial consumption." LINK
The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin."
Do you ever wonder why the Dollar Act (HR 556) is currently in the legislative books just in case the above does happen? See the link below.
Clare: Parliamentary Finance for Al-Furat News: The budget schedules will reach Parliament within 72 hours
5/4/2024
Vice Chairman of the Proportional Finance Committee, Ahmed Mazhar al-Jubouri, suggested sending the 2024 budget tables to the House of Representatives within the next 72 hours.
Al-Jubouri said {to Al-Furat News} that: “The budget schedules for the year 2024 have not been sent from the government yet, and the committee is fully prepared regarding them.”
He added, “The committee will not take more than 20 days to resolve the discussion of these schedules, but so far they are the corridors of the government.”
Al-Jubouri added, "We believe that the budget schedules will be sent within the next 72 hours, according to communications with the government."
DeepWoodz: Well well here we go. Since it feels to all that we are down to the wire. This is one of the latest benchmarks.
Some feel there has been a delay sending these amendments/schedules due to a new rate being involved with them. Since parliament is not in the loop, nor is it friendly to the citizens. They should be the last to know prior to release to the public. The next benchmark circulates around the events of the 9th.
BRICS should be ready for dollar collapse – Russian IMF rep
4/5/24 – AzÉ™rbaycan24
The international group could create an alternative currency based on their national legal tenders, according to Alexey Mozhin.
The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin.
In an interview with RIA Novosti published on Friday, the expert noted that the shortcomings of the current financial system are becoming more apparent and that many publications have started to mention BRICS “in the context of the fact that this association can offer an alternative.”
Mozhin explained that it is possible for the economic bloc’s member countries to create a currency that would be “built on a basket of currencies of the five member countries,” which would include the Chinese yuan, Indian rupee, Russian ruble, Brazilian real, and the South African rand.
“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods,” the director told the outlet.
Earlier this year, during a meeting of BRICS finance ministers and heads of central banks, representatives of its member states expressed support for moving away from the dollar and for trading in national currencies instead.
Russia’s Deputy Minister of Finance, Ivan Chebeskov, said at the time that “most countries said that payments in national currencies are what the BRICS countries need. We are already a large BRICS family, consisting of ten countries. Most countries supported the need to build new payment mechanisms and shared their experience developing central bank digital currencies, building new platforms, and participating in pilots of various platforms.”
Chebeskov surmised that the majority of the participants of February’s BRICS forum supported boosting bilateral trade and strengthening economic ties by moving to independent settlement mechanisms in national currencies.
Meanwhile, according to a recent Bloomberg report, economic aides to former US President Donald Trump, who is seeking re-election this year, are currently looking at ways to punish countries that choose to shift away from using the US dollar.
As reported by the outlet, Trump’s team is discussing penalties against both allies and adversaries who seek to divert their trade from the greenback to other currencies, with countermeasures including export controls, currency manipulation changes, and tariffs.
The global trend towards de-dollarization comes after Russia was cut off from the Western financial system following the outbreak of the Ukraine conflict in 2022. Additionally, financial experts have raised concerns that the seizure of Russia’s foreign assets, and Western plans to confiscate these, could further spur the trend. (RT)