A Positive Report From The World Bank On Iraq's Monetary Policy
Economy | 05/27/2024 Baghdad - Mawazine News The report issued by the International Monetary Fund mission for the current year 2024 for Article Four consultations, today, Monday, praised the Iraqi government’s measures, including the monetary policy led by the Central Bank of Iraq.
The report indicated, according to a statement issued by the Central Bank and received by “Mawazine News,” that “the Central Bank of Iraq has taken several measures aimed at stabilizing the national currency and controlling monetary inflation,” adding that “the Central Bank has raised the interest rate on monetary policy tools from 4% to 7.5%.” % and increasing banks’ mandatory reserve requirements from 15% to 18%.
These steps were decisive in reducing the inflationary pressures that Iraq suffered from, and this contributed to creating a more stable economic environment.
The report stressed that “important reforms in the banking sector such as gradually increasing 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.”
💥🇺🇸. Iraq is shifting to a gold backed currency! This makes their dependence on oil to back their currency non relevant! 🇺🇸💥🇺🇸👇👇
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🇺🇸💥🇺🇸. 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! 🇺🇸💥🇺🇸☝️☝️☝️
Zimbabwe Authorities Mix Charm With Force In An Attempt To Shore Up The World’s Newest Currency
FARAI MUTSAKA Sun, May 26, 2024
HARARE, Zimbabwe (AP) — The introduction of the world's newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold.
The catchy tune, titled “Zig Mari,” received generous play on state television and radio. The musician, Ras Caleb, received a car and $2,000 — ironically paid in greenbacks, not the new ZiGs — from a businessman with close ties to Zimbabwe's ruling party and President Emmerson Mnangagwa; he said he wanted to reward an act he considered “patriotic.”
Although money typically doesn't require publicity, Zimbabwe's sixth national currency in 15 years needs all the help it can get.
Desperate to halt a money crisis underlining the country’s economic troubles, the government launched the gold-backed ZiG, the latest attempt to replace the Zimbabwe dollar, which had been battered by depreciation and often outright rejection by people unwilling to put their faith in it.
Senior officials from the Reserve Bank of Zimbabwe and the ruling ZANU-PF party embarked on a flurry of public rallies and meetings to encourage the skeptical population to now embrace the ZiG ahead of the U.S. dollar — also legal tender in the southern African nation. Commercial jingles heralding the currency flooded the airwaves along with Caleb's single.
Yet despite the charm offensive, the ZiG is facing a familiar problem: public mistrust and structural barriers that have people still clamoring for U.S. dollars. Although the ZiG has largely held its value on the official market, it has tumbled on the black market, where $1 can be exchanged for up to 17 ZiGs.
Law enforcement agents have arrested more than 200 street currency dealers on allegations of flouting foreign currency exchange regulations, national police spokesman Paul Nyathi said. The government accuses them of undermining and devaluing the new currency by using exchange rates higher than the official one.
Twin brothers Tapiwa and Justice Nyamadzawo, 24, were arrested two weeks after the launch of the new currency after allegedly selling undercover detectives cellphone airtime worth $10 at a rate of 15 ZiGs per dollar, according to court papers. The official exchange rate was just over 13 ZiGs per dollar. Like other currency traders, the twins were denied bail and remain in pretrial detention on charges that carry a maximum prison term of 10 years.
The crackdown is incongruous, because Zimbabwe has a long history of street currency dealers whose unofficial rates often carry the day. Many shops and merchants also ignore the official rate and only accept the local currency at their own rates. And many vendors, particularly in the unlicensed sector that employs more than 80% of adult Zimbabweans, still only accept the dollar.
What's more, the government has allowed some businesses, such as gas stations, to refuse to accept the ZiG in favor of U.S. dollars. Some departments, like the office that issues and renews passports, also accept only greenbacks. Many others still list their fees in U.S. dollars, although they accept the equivalent in local currency.
The government has announced fines up to 200,000 ZiG or about $15,000, for businesses that fail to stick to the official exchange rate. Authorities have also frozen bank accounts of some businesses on accusations of rejecting the new currency or trading using exchange rates higher than the official rate. The Reserve Bank didn't name the affected businesses.
Zimbabwe has a long and tumultuous history of monetary instability. The ZiG is the sixth currency used following the spectacular 2009 collapse of the Zimbabwe dollar amid hyperinflation of 5 billion percent, one of the world’s worst currency crashes.
The government printed a 100-trillion Zimbabwe dollar banknote to keep up with spiraling prices that saw a loaf of bread going for more than 500 million Zimbabwe dollars.
It appeared from all the below conflicting reports that Tier4b (Us, the Internet Group) could get notification to set appointments anywhere from right now to July 4. Personally, I am looking for the EBS to set off notification announcements.
The Treasury Department, Military, Wells Fargo Bank and President Trump were coordinating this up- coming event of undervalued currencies, such as the Iraqi Dinar (IQD) and the Vietnam Dong (VND), being revalued and exchanged, as well as the ZWL (Zimbabwe Dollar) denoted bearer bonds being redeemed.
You may have heard about the Global Currency Reset (GCR) and RV (revaluation of currencies) as opposed to the cabal’s Great Reset where they pushed their fraudulent Central Bank Digital Currency (CBDC) that has nothing to back it. Their game was now known, and no longer possible, in favor of the BRICS consortium of nations with asset backed currencies.
Mon. 27 May 2024 Wolverine Breaking News: QFS Funded Token Contracts Launched! How your QFS accounts linked to DNA signatures are accounted for! Full disclosure under GESARA! The Quantum Financial System (QFS) heralds a new era in global finance, marking a fundamental shift from the outdated and corruption-prone systems that have long plagued our economic structures. As we stand on the cusp of this revolutionary change, it is crucial to recognize and support the immense benefits that QFS brings, ensuring a more stable, secure and equitable financial future for all. https://gazeteller.com/breaking-news-qfs-funded-token-contracts-roll-out-how-your-dna-signature-linked-qfs-accounts-full-disclosure-under-gesara/
Sun. 26 May 2024: Wolverine got this text from Trump! Greeeeeeeeen Stop2End LET’S GOOOOOO!!!!!!
47.donaldjtrump.com/WXrxCV8 As I said before T1 and T2 are already finished. It is a process which should be finished by June 15th. We should get good news this week. I have had confirmation that Brazil will start this week from the Central Bank of Brazil. Thurs. 6 June is D Day.”
Mon. 27 May 2024 MarkZ: “I had a great conversation with a person involved with historic bonds yesterday afternoon. We have a few that are expecting spendable dollars Tues. 28 May morning. They were told they would have gotten it today if the banking system was open. If what they say is accurate it could put us within days or a week or two at most of us processing and exchanging on the currency side of it.”
Sun. 26 May 2024 NC Chick: A banker from Brazil did a talk last week. He said Whales would be finished in a day or so and notifications have gone out to the Bond holders. He was amazed that T4B hadn’t been notified. Actually, it is the same person that tells Wolverine.
On Fri. 24 May TNT sent out a cryptic message that the 800#s were coming out for Tier4b (Us, the Internet Group) to set redemption appointments.
Thurs. 23 May 2024 Bruce felt it was likely that we won’t get the 800 numbers to make appointments until Tues. 28 May, and could begin exchanging on Wed. 29 May.
FRANK26:"INTERNET/SOCIAL MEDIA & ELECTRICITY... REMEMBER???".....F26
The Central Bank of Iraq "denies" issuing a currency in the category of (100) thousand dinars
May 26, 2024
The Central Bank of Iraq denies issuing a new currency in the denomination of (100) thousand dinars, indicating that the image of the new currency circulated on social networking sites is a “fake” image 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.The Central Bank confirms 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.
(THIS IS ALL AS WE SHARED WITH YOU ABOUT THE MONETARY REFORM STEPS-F26)
The Iraqi Central Bank reveals the truth about the “Zaha Hadid” currency, denomination of 100 thousand dinars
5/26/2024
Sunday, the Central Bank of Iraq denied issuing a new currency in the denomination of (100) thousand dinars, on which a picture of the late architect Zaha Hadid appears.
The Central Bank indicated, in a statement received by Shafaq News Agency, that “the image of a new currency circulated on social media is a (fake) image bearing the image of the late Iraqi architect Zaha Hadid,” calling on citizens to “be careful and not deal with it if it is presented.” Some for the purpose of fraud.”
The Central Bank confirmed that there are no intentions to print a new currency at the present time, and that it will take legal measures “against violators and promoters of this counterfeit currency.”
