Wednesday, June 19, 2024
Coffee with MarkZ. and Andy Schectman. 06/19/2024
International Finance: Economic Reform In Iraq Is Witnessing An Increasing Pace And We Have Invested About Two Billion Dollars, 19 JUNE
International Finance: Economic Reform In Iraq Is Witnessing An Increasing Pace And We Have Invested About Two Billion Dollars
Money and business Economy News _ Baghdad The representative of the International Finance Corporation in Iraq, Bilal Zaghir, confirmed today, Tuesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.
Zaghir said in an interview with the Iraqi News Agency, followed by “Al-Iqtisad News,” that “the work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest nearly two billion dollars in a wide range of sectors,” indicating that “our work in Iraq will extend out of our belief in future prospects.”
"For Iraq, the pace of economic reform will accelerate, and this will reflect positively in creating other investment opportunities in all sectors, whether industrial, infrastructure, or in the financial and banking sector."
He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by providing the necessary financing for private sector projects in addition to providing advisory services.
Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq in addition to providing consulting services".
Zaghir continued, “The IFC’s thinking relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided.
” For Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.” Views 172 06/18/2024 - https://economy-news.net/content.php?id=44398
THE BIG CALL HIGHLIGHTS, 19 JUNE
Tues. 18 June 2024 Bruce, The Big Call The Big Call Universe (ibize.com) 667-770-1866, pin123456#:
- “Wed. 19 June 2024 is Juneteenth Freedom Day and unless there’s a False Flag Event that day, Tier4b could get notification and start exchanges.
- “Some Redemption Center people have a job to enter the GCR codes. For the last several days the codes weren’t taken and sent back. Today one code was received. Two were sent back – one on Iraq and the other on the Rupia.
- “The Iraqi Dinar rate will be published in the Gazette on Wed. 19 June.
- “The Afghanistan Rupia code and the other two codes will be entered on Wed. 19 June.”
- Tues. 18 June 2024 MarkZ: “Sources close to the US Treasury seem to be clouding the timing, telling different groups different things. …I’m getting information on some really weird things that are going on. People with good credit and good incomes are having their loans not approved. I got from many sources in Reno that Sat. 15 June 2024 evening they released 1% to Bond Holders. That should kick off a cascade event.”
- Mon. 17 June 2024 TNT: “Over the weekend the old ATM’s in Iraq were emptied out by the CBI, replaced with new machines, and loaded with the new, lower Dinar denominations. On Mon. 17 June 2024 Sudani announced on Iraqi TV that before the end of the holiday, which was Wed. 19 June, that the Iraqi citizens will have their new exchange rate and access to the new ATM’s and the lower denominations.”
"RV UPDATE" BY WOLVERINE, 19 JUNE
Tues. 18 June 2024 Wolverine
- “I got some news – things have started. It is getting really emotional. I received a telephone call and will not mention names, but right now, the caller is at the bank about to receive his blessings. Things are happening. It is someone I know, close to me. We will hear more of this coming through.
- “We received an audio from the Pentecostal group, he is ready. They have liquid money and they have received funds to distribute funds to members. The Pentecostal group has about 3 million people so one person is not in charge of distributing. They have different leaders assigned to different platforms. He sent an audio saying all is ready to go. It was very exciting news for their people. I am not in that particular platform, but in another one of their platforms in that group. He came out with a text message saying it will be this week, but for their whole organization it will take them into August to pay all their members.
- “Yesterday Mon. 17 June I was supposed to get a message from Reno that the Tier 4A group was supposed to go first. Unfortunately, I don’t know if anything has happened yet. I did not receive a message from that source. Hopefully I will get some messages coming in from Reno.
- “I received a message from Zurich that it started a while ago. That is all I know. I do have European contacts, but none of said anything.
- “Again, it is a process. Probably some people are getting paid, but for others it is not their turn yet.
- “For us in Tier 4B we are to get it this week.
- “It is stressful, maybe Bruce may know more about this than I do. But today or tomorrow notifications for 4B should be released. IF the bonds are getting paid, then surely the currencies will be coming out.
- “It will be emotional, and I was emotional when the person called me that WAS at the bank. I am really happy for anyone receiving their blessings.
- “I am not to talk about Mauricio, but they are getting close, but right now I need to stay quiet about his platform.
- “I am sure this is going to happen soon, and then we will have Three things: 1) Live emergency call – 2) You tube video by friend of mine – a member with the Trumpets of freedom and then 3) The Opera. I will then un-mute the room so we all can celebrate! Take care, Wolverine”
Malaysian Currency Now On RV Path in BRICS Gold-Backed Alliance, 19 JUNE
Malaysian Currency Now On RV Path in BRICS Gold-Backed Alliance
Prime Minister Declares Strategic Intention to Join BRICS Alliance which would lead to a significant RV of the Malaysian Ringgit (MYR).
In This Article
- Malaysia’s Formal Bid to Join BRICS
- The Anticipated Revaluation of the Malaysian Ringgit
- BRICS Gold-Backed Trade Currency and Its Implications
- Malaysia’s Strong Economic Contributions to BRICS
Malaysia’s strategic decision to join the BRICS economic bloc has sparked significant discussions regarding the future of the Malaysian Ringgit (MYR).
Prime Minister Anwar Ibrahim’s announcement highlights Malaysia’s intent to align with BRICS, potentially leading to the revaluation (RV) of the Ringgit through the bloc’s gold-backed common trade currency which will be composed of 40% gold-backing.
Malaysia’s Formal Bid to Join BRICS
Prime Minister Anwar Ibrahim’s recent declaration signifies a pivotal moment for Malaysia’s economic and diplomatic strategy. In an interview with Chinese news outlet Guancha, aired ahead of Chinese Premier Li Qiang’s visit, Anwar confirmed Malaysia’s intention to join BRICS, marking a crucial step towards diversifying its strategic relationships.
“We have indicated, as a policy, that we are joining,” said Datuk Seri Anwar. “We have made a decision. We are placing the formal procedures soon.” This move aligns Malaysia with a group of nations collectively challenging the Western-dominated global order, potentially reshaping the economic landscape.
The Anticipated Revaluation of the Malaysian Ringgit
One of the most significant implications of Malaysia joining BRICS is the potential revaluation of the Malaysian Ringgit.
The BRICS bloc plans to implement a gold-backed common trade currency. Inclusion of the Ringgit in this currency basket could significantly enhance its purchasing power and exchange rate, especially against fiat currencies like the US Dollar.
The revaluation of the MYR would not only strengthen Malaysia’s financial stability but also boost its attractiveness for foreign investments. This economic shift is expected to elevate Malaysia’s status in the global market, offering new opportunities for growth and development.
BRICS Gold-Backed Trade Currency and Its Implications
The BRICS bloc’s move towards a gold-backed trade currency is a strategic effort to reduce dependency on the US Dollar and foster economic sovereignty among member nations. For Malaysia, participating in this initiative means aligning the Ringgit with a stable and valuable currency system, enhancing its global economic influence .
This new currency system aims to facilitate smoother and more secure trade among BRICS nations, providing a robust alternative to the existing fiat currency system.
The anticipated revaluation of the Ringgit under this gold-backed regime is poised to offer Malaysia greater economic leverage and improved terms of trade.
Malaysia’s Strong Economic Contributions to BRICS
Malaysia’s decision to join BRICS is underpinned by its strong economic indicators and potential contributions to the bloc.
In 2024, Malaysia’s GDP is estimated to reach $445 billion USD, with substantial exports in key sectors such as digital/electronic devices, electrical machinery, mineral fuels, and industrial machinery. These economic strengths position Malaysia as a valuable member of the BRICS alliance.
Malaysia’s top export destinations in 2023 included major economies such as Singapore, China, and the USA, highlighting its significant role in global trade.
The nation’s diverse export portfolio, comprising electrical machinery, mineral oils, and animal or vegetable fats, among others, showcases its capacity to contribute effectively to a diverse BRICS economic bloc.
Experts, such as Datuk Prof Dr. Mohd Faiz Abdullah of Malaysia’s Institute of Strategic and International Studies (ISIS), emphasize the importance of Malaysia’s participation in BRICS. “Building our ties with these key countries will make our economy more resilient,” he noted, underscoring the strategic benefits of Malaysia’s move.
The Bottom Line
Malaysia’s formal intention to join BRICS represents a strategic maneuver with far-reaching economic implications.
The potential revaluation of the Malaysian Ringgit, driven by the adoption of a BRICS gold-backed common trade currency, positions Malaysia for enhanced financial stability and global economic influence.
Coupled with Malaysia’s robust economic contributions, this move promises to solidify the nation’s standing within the BRICS alliance, fostering new opportunities for growth and collaboration in the evolving global landscape.
Contributing articles:
- https://www.straitstimes.com/asia/malaysia-preparing-to-join-brics-economic-group-media-report-says
- https://www.sinardaily.my/article/218946/focus/national/joining-brics-will-diversify-malaysias-strategic-relationships-and-strengthen-its-economy
- https://trendeconomy.com/data/h2/Malaysia/TOTAL
- https://www.statista.com/statistics/319024/gross-domestic-product-gdp-in-malaysia/
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