Thursday, May 23, 2024
Coffee with MarkZ, joined by MilitiaMan. 05/23/2024
"RV UPDATE" BY WOLVERINE, 23 MAY
Wed. 22 May 2024 Wolverine Chat
“This will not be a long chat. There was a meeting last night in Reno. The topic was when to release the notifications. The notifications are coming out. The main bondholders are hopefully expecting notifications today. So hold on everyone!! We are on the very edge of this! Expecting notifications to come in today for the major bondholders. Tier4B, in my opinion, will hopefully come in on the weekend.
Things are happening in the Pentecostal group. The leader will be having a get together in Bogota the first week of June, so then they will be ready to go. It was a very good audio that they put out yesterday. Hopefully they will be able to release it has been long time for that platform as the owner has been through so much.
Zimbabwe Applies For ISO Code For ZiG Currency | Pindula (5/22/24), 23 MAY
Zimbabwe Applies For ISO Code For ZiG Currency | Pindula (5/22/24)
Reserve Bank of Zimbabwe (RBZ) deputy governor Innocent Matshe said that the central bank is in the process of applying for an International Organisation for Standardisation (ISO) code for the Zimbabwe Gold (ZiG) currency as it moves to make the unit a stand-alone currency, reported.
ISO currency codes are three-letter alphabetic codes that represent various currencies used worldwide. These codes are essential for currency trading and international settlements.
When combined, they form the symbols and cross rates used in financial transactions. For instance, USD stands for the United States Dollar, EUR represents the Euro, and JPY denotes the Japanese Yen.
The ISO currency code for the defunct Zimbabwean dollar was ZWL.
Speaking at a breakfast meeting hosted by the Zimbabwe Economics Society in Harare on Tuesday, Matshe said:
According to our economic strategy, we believed that the success of our currency, ZiG, would depend on a limited management system, maintaining a tight monetary policy stance, controlling money supply and creating demand for the domestic currency.
This would demonstrate policy consistency, build trust in ZiG and facilitate effective communication. Let me confirm that ZiG is indeed a standalone currency.
We are currently in the process of applying for an ISO code and we expect no deviation from our initial protection policies.
Matshe claimed that Zimbabwe’s economy has been growing despite exchange rate fluctuations and inflation. He said:
It is essential to have an affordable base currency. We cannot sustain a dual currency situation indefinitely. Zimbabwe’s economy has been growing despite past instabilities, including currency fluctuations, exchange rates and inflation. However, we need to address these issues.
Matshe also pointed out that it was critical to include all sectors in currency reform, including those outside the traditional financial and banking sectors. He said:
The introduction of ZiG aimed to end the instability and create a standardised currency. Without robust reforms, our economy would not have grown significantly.
We need a framework that harnesses the potential of all sectors, including those outside the traditional financial and banking sectors.
Inclusivity is crucial and we must understand that digital finance is essential for a 21st-century economy.
We have made progress in electronic financial activities, but we need to think seriously about digitalisation.
Certainty and stability in times of crisis allow for long-term planning and investment, which is key to industrialisation.
https://www.pindula.co.zw/2024/05/22/zimbabwe-applies-for-iso-code-for-zig-currency/
"THE BANKING REFORM STRATEGY OF IRAQ WILL BE REFLECTED IN TEH STABILITY OF THE EXCHANGE RATE AND RECOVERY OF THE IQD" BY ARIEL, 23 MAY
ARIEL
Samir Al-Nusairi Economy News = Baghdad Samir Al-Nusairi The Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy.
This means that it has completed the first phase of it by achieving tangible and important results in the field of regulating foreign trade financing and regularization of the global financial system through strict adherence to standards.
International compliance, building solid international banking relationships with international banks and correspondent banks, and introducing the local currencies of countries with which there is significant trade exchange into cash dealing in their local currencies, in addition to dealing in the US dollar.
As well as activating and strengthening its procedures for transitioning from a cash economy to a digital economy and cooperating with the government in expanding the use of electronic payment tools and spreading the culture of transition to a cashless society. Certainly, the above tasks occupied a large part of the efforts at the local and international levels.
In the second phase, the focus will be on restructuring banks, especially government banks, and starting to implement new policies to support and develop micro, small, and medium enterprises, initiating the establishment and licensing of the Riyada Bank, and licensing the Green Bank, which will specialize in sustainable financing for renewable energy projects, as well as moving toward licensing digital banks to keep pace with progress in the field of banking products. Modern digital. The electronic platform will also be gradually left this year.
One of the tasks that will begin work is to rehabilitate the banks restricted from dealing in the US dollar to comply with international standards in light of the work of the joint committee between the Central Bank and the US Department of the Treasury, through which the work of these banks in foreign transfer activity for previous years will also be analyzed and audited, with the hope that it will be increased. Restrictions on it.
What we expect from the procedures and policies adopted by the Central Bank in the first phase and what was achieved from them and what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably.