Monday, May 27, 2024
International Praise For The Efforts Of The Iraqi Central Bank: Controlling Inflation And Strengthening The Banking Sector, 27 MAY
International Praise For The Efforts Of The Iraqi Central Bank: Controlling Inflation And Strengthening The Banking Sector
Economy News – Baghdad The International Monetary Fund praised the actions of the Iraqi government led by the Central Bank of Iraq, indicating that it had taken several measures aimed at stabilizing the national currency and controlling monetary inflation.
The Central Bank media stated, in a statement received by Al-Eqtisad News, that it “raised the interest rate on monetary policy tools from 4% to 7.5% and increased the mandatory reserve requirements for banks from 15% to 18%, and these steps were decisive in reducing the inflationary pressures that are affecting the economy.” Iraq suffered from it, and this contributed to creating a more stable economic environment.”
The report stressed that “important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and flexibility in the face of economic shocks.”
The report noted that “Iraq has implemented new compliance measures to improve the transparency of cross-border financial transactions, by launching an electronic platform that imposes the disclosure of financial beneficiaries, which enhances the integrity of financial transfers in accordance with international banking standards, in addition to the role of the Central Bank of Iraq in expanding Correspondent banking relationships, to facilitate smoother international trade financing operations.”
116 views Added 05/27/2024 - https://economy-news.net/content.php?id=43771
High Level Talks Indicate Vietnam Poised to Join BRICS: Great News for VND, BY AWAKE IN 3D, 27 MAY
High Level Talks Indicate Vietnam Poised to Join BRICS: Great News for VND
Vietnam’s anticipated membership in BRICS+ highlights its growing global economic influence and benefits for the Vietnamese Dong (VND).
In This Article
- Overview of Vietnam’s Economic Growth
- Insights from the Recent High-Level Talks
- Strategic Importance of BRICS+ Expansion
- Future Prospects for Vietnam within BRICS+
- Benefits to the VND from BRICS Membership
Vietnam’s potential membership in the BRICS+ alliance marks a significant milestone in its global economic status.
This development comes as the country continues to strengthen its economic ties with major global powers and emerges as a key player in the international arena.
Overview of Vietnam’s Economic Growth
Vietnam’s economy has been one of the fastest-growing in the world, characterized by robust GDP growth, increasing foreign direct investment, and expanding industrial sectors.
Its strategic location, coupled with a young and dynamic workforce, has attracted numerous multinational corporations seeking to diversify their supply chains. This economic boom positions Vietnam as a prime candidate for inclusion in influential global groups like BRICS+.
Insights from the Recent High-Level Talks
During a recent visit to Vietnam, Dr. YKOVLEV ARTEM ALEXANDROVICH, Director of the Center for Russian Strategy in Asia, engaged in discussions with the Vietnamese Prime Minister.
The talks focused on potential economic collaborations between Vietnam and the Russian Federation and explored the feasibility of expanding BRICS membership to include Vietnam.
Dr. Alexandrovich emphasized the resilience of the Russian economy despite extensive sanctions and highlighted the strategic partnerships Russia has forged with China and other Asian countries.
He noted that these alliances have been instrumental in sustaining economic growth and stability. The discussions underscored the mutual benefits that Vietnam’s inclusion in BRICS+ would bring, aligning with the shared objectives of fostering economic cooperation and development.
Strategic Importance of BRICS+ Expansion
BRICS represents a coalition of emerging economies with significant global influence. The proposed expansion under the BRICS+ model aims to include other rapidly growing economies, enhancing the group’s geopolitical and economic clout.
Vietnam’s inclusion would not only bolster its own economic ambitions but also contribute to the collective strength of BRICS+.
Dr. Alexandrovich highlighted that the expansion of BRICS is crucial for reshaping the global geopolitical and geo-economic landscape, promoting a multipolar world order.
When asked if Vietnam would be a good candidate to join BRICS, Dr. Alexandrovich replied, “Vietnam’s economic trajectory aligns well with the goals of BRICS+, making it a valuable addition to the alliance.”
This membership would open up new avenues for trade, investment, and technological collaboration, benefiting all member countries.
Future Prospects for Vietnam within BRICS+
As Vietnam prepares to join BRICS+, the country stands to gain significantly from increased access to markets, resources, and technology from other member nations.
This membership would accelerate Vietnam’s economic growth, enhance its global trade relations, and provide a platform for greater influence in international economic policies.
Furthermore, Vietnam’s participation in BRICS+ aligns with its long-term strategic goals of diversifying economic partnerships and reducing dependency on any single market. By joining forces with other emerging economies, Vietnam can strengthen its position in global value chains and contribute to shaping the future of international economic governance.
Key Benefits to the VND from BRICS Membership
Today, the expanded BRICS+ nations collectively represent over 40% of the world’s population and around 25% of global GDP.
Stabilized Exchange Rate: As part of BRICS+, Vietnam could benefit from a more stable Vietnamese Dong (VND). The economic collaboration within the bloc, including trade settlements in local currencies, could reduce Vietnam’s reliance on the US dollar, leading to less volatility in the VND exchange rate.
Stronger Financial Support: Vietnam would have access to financial resources from the BRICS New Development Bank (NDB). This can help support infrastructure projects and other development initiatives without the stringent conditions often imposed by Western financial institutions. Enhanced financial stability and support can bolster investor confidence in the VND.
Enhanced Foreign Exchange Reserves: Trade within the BRICS+ framework can lead to increased foreign exchange reserves for Vietnam. As trade grows, so does the inflow of foreign currencies, which can help stabilize and strengthen the VND.
Increased Investment: Membership in BRICS+ can attract more foreign direct investment (FDI) into Vietnam. Investors often view membership in such influential groups as a sign of economic stability and growth potential. Increased FDI can further strengthen the economy and, consequently, the VND.
The Bottom Line
anticipated entry into the BRICS+ alliance signals a pivotal moment in its economic evolution.
The country’s impressive growth, strategic partnerships, and alignment with BRICS+ objectives position it as a key player in this expanding coalition.
As BRICS+ continues to shape the global economic landscape, Vietnam’s membership promises to bring mutual benefits, drive collective prosperity for all member nations, and enhance the stability and strength of the Vietnamese Dong.
After The Central Bank Denied And Confirmed That It Is Not Printing Them For The Time Being... Revealing The Truth About The New Currencies, 27 MAY
After The Central Bank Denied And Confirmed That It Is Not Printing Them For The Time Being... Revealing The Truth About The New Currencies
Sunday 26 May 2024 23:25 | Economical Number of readings: 394 Baghdad / NINA / Today, Sunday, community circles were busy with what was reported on social media sites and platforms about the efforts of the Central Bank of Iraq to issue a new currency of 100,000 Iraqi dinars and pump it into the local market, before the Central Bank quickly denied those rumors and emphasized that there was no... There are intentions to print a new currency at the present time.
The origin of the incident, which was circulated on social media sites and platforms, goes back to artistic paintings drawn by students of the Institute of Fine Arts in the city of Mosul, which included designs for coins marked with images of the late Iraqi-born international architect Zaha Hadid and the Abbasid Caliph Harun al-Rashid, as part of the requirements for the graduation project, but the matter went beyond The scope of control quickly expanded beyond that, after pictures of the painted paintings were published and circulated as a model for the new currency that will be printed soon.
This comes as the Central Bank of Iraq denied issuing a new currency in the denomination of (100) thousand dinars, despite what was circulated on social media sites about a picture of a new banknote that is a “fake” picture bearing the image of the late Iraqi architect Zaha Hadid.
The bank called on citizens to be careful and not deal with it if some offer it for the purpose of fraud, stressing that there are no intentions to print a new currency at the present time, stressing that it will take legal measures against violators and promoters of this counterfeit currency./End 5
"RV UPDATE" BY TRITH WARRIORS, 27 MAY
TRUTH WARRIORS
🇺🇸💥🇺🇸. There will be numerous investment opportunities for many in Iraq! 💥💥💥Humanitarian projects will be welcome to help launch Iraq into a global economic hub in the Middle East! 🇺🇸💥🇺🇸👇👇
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🇺🇸💥🇺🇸. Experts say that the dinar will reach parity very soon! Great news for everyone! 🇺🇸💥🇺🇸👇👇
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🇺🇸💥🇺🇸. Zimbabwe promoting their new Zig currency and jailing illegal currency sellers. 🇺🇸💥🇺🇸👇👇
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🇺🇸💥🇺🇸☝️☝️☝️☝️Nader says that the war with Iraq had ended when Sudani came to the U.S. last month. 💥💥💥 The U.S. will keep bases in Iraq to protect their assets just like they do in Germany and other places. 💥💥💥 The U.S. gave 100% of Iraq to Iraq.🇮🇶 It happened this month! 💥💥💥. Great news! 🇺🇸💥🇺🇸☝️☝️☝️
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-truth-warriors-27-may.html
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