Sunday, August 11, 2024
馃寪 Zimbabwe cracks down on illegal currency trading to boost new currency, 11 AUGUST
馃寪 Zimbabwe cracks down on illegal currency trading to boost new currency
"Zimbabwe's monetary authorities are leaving no stone unturned in their efforts to stabilize the country's new currency, the Zimbabwe Gold Currency (ZiG). After numerous attempts to revive the national currency, the ZiG is the latest initiative to establish a currency stable".
馃敶 Zimbabwe is stepping up efforts to stabilize its new currency, the Zimbabwe Gold Coin (ZiG), by arresting illegal currency traders. Two people were recently convicted and sentenced for illegal currency trading, demonstrating the government's commitment to the ZiG. The ZiG is backed by bullion and foreign currency reserves held at the central bank. This is Zimbabwe's sixth attempt to establish a stable national currency since 2008, following a period of hyperinflation.
"Prosecutor Mandirasa Chigumira proved that the two committed the offenses when she testified in court that "on August 1, 2024, police officers saw Maketo, a resident of New Tafara, Harare, at the Kamunhu shopping center in Mabvuku, offering to buy foreign currency to passersby in exchange for local currency. "A team of detectives working undercover and armed with trick money approached Maketo to exchange money for 20 US dollars at a rate of 1 US dollar per ZiG16."
馃敆https://technomag.co.zw/zimbabwe-toma-manos-contra-el-comercio-ilegal-de-forex-para-impulsar-la-nueva-moneda/
TRANSLATE IN SPANISH
馃寪 Zimbabue toma medidas en茅rgicas contra el comercio ilegal de divisas para impulsar la nueva moneda
"Las autoridades monetarias de Zimbabue no escatiman esfuerzos en sus esfuerzos por estabilizar la nueva moneda del pa铆s, la Moneda de Oro de Zimbabue (ZiG). Despu茅s de numerosos intentos de revivir la moneda nacional, la ZiG es la 煤ltima iniciativa para establecer una moneda estable".
馃敶 Zimbabue est谩 intensificando los esfuerzos para estabilizar su nueva moneda, la Moneda de Oro de Zimbabue (ZiG), mediante la detenci贸n de comerciantes ilegales de divisas. Dos personas fueron condenadas y sentenciadas recientemente por comercio ilegal de divisas, lo que demuestra el compromiso del gobierno con la ZiG. La ZiG est谩 respaldada por lingotes y reservas de divisas extranjeras que se encuentran en el banco central. Este es el sexto intento de Zimbabue de establecer una moneda nacional estable desde 2008, tras un per铆odo de hiperinflaci贸n.
"La fiscal Mandirasa Chigumira demostr贸 que ambos cometieron los delitos cuando declar贸 ante el tribunal que "el 1 de agosto de 2024, los agentes de polic铆a vieron a Maketo, residente de New Tafara, Harare, en el centro comercial Kamunhu en Mabvuku, ofreciendo comprar divisas a los transe煤ntes a cambio de moneda local. Un equipo de detectives que trabajaban de forma encubierta y armados con dinero trampa se acerc贸 a Maketo para cambiarle dinero por 20 d贸lares estadounidenses a una tasa de 1 d贸lar estadounidense por ZiG16".
馃敆https://technomag.co.zw/zimbabwe-toma-manos-contra-el-comercio-ilegal-de-forex-para-impulsar-la-nueva-moneda/
LATEST FROM JON DOWLING, 11 AUGUST
Things continue to heat up! Will Iran take the US offer to remove all the sanctions, or will they go full steam ahead with the attack on Israel? Something has to give soon and it will.
@JonDowling
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Advisor to the Prime Minister: The government established a road map for the work of the economic model in Iraq, 11 AUGUST
Economy News – Baghdad
The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, on Saturday, outlined the vision of the government curriculum on the economic model, and while he indicated that he will direct investment decisions to achieve its goals, stressing that the government of Prime Minister Mohammed Shia Al-Sudani established a road map for the work of the economic model in Iraq.
Saleh said, in a statement reported by the official news agency, and seen by “Economy News”, that “the economic model is a mathematical model used to represent the economy, and analyze the behavior of various economic factors, as these models are used to understand how economic elements interact,” noting that “at the level of the government curriculum for Iraq’s philosophy, the basics of modeling the Iraqi economy were based on an important vision based on the principle of the decomposition of the entire economy, and taking into account the macro variables, foremost of which are the basics of development and growth in the GDP and imposing stability and effective operation of the joints of the national economy and the level of its interconnections.”
He added that “the current digital life helps to use computing to conduct simulated experiments to understand the potential effects of various economic policies and adopt optimal paths from them,” stressing that “Iraq has established in its government platform a practical establishment and a road map for the work of the economic model of Iraq through the development road strategy, since the beginning of the government of Prime Minister Mohammed Shiaa Al-Sudani.”
He pointed out that “the state of economic imbalance and its severe unilateralism has always required thinking about the future of the economy through an approach based on generating an alternative sector leading the national economy,” explaining that “the development road program is the academic point of view, and what was presented by the German economic thinker Albert Hirschman in his famous book (Economic Development Strategy) issued in 1958, in combating the state of imbalance and economic unilateralism with a theory based on an economic development weight, and a leader of the economy that provides a high degree of back and front sectoral interdependence and high interaction that achieves sustainable growth and restoring balance in the long term of the national economy.”
He pointed out that “this theory emphasizes in its model the need to invest in strategic sectors with a specific high priority instead of investing in all sectors at the same time,” adding that “according to this theory, other sectors will develop automatically over time, and from this point of view the idea of the economic model for the future of Iraq was born in prosperity and diversity, which is undoubtedly based on a macroeconomic strategy based on the path of development.”
Saleh pointed out that “that development strategy and the economic model that drives macroeconomic variables, has not been separated from the vision of partnership between the state and the private sector and the principles of the social market within the data of the five-year national development plan and its objectives, which were recently launched,” concluding that “the model or economic model of Iraq, which we aspire to establish, will provide the guiding predictive foundations for evaluating economic policies and directing investment decisions to achieve its specific goals optimally.”
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Added 2024/08/10 – 4:38 PM
https://economy-news.net/content.php?id=46126
RV UPDATE BY PIMPY, 11 AUGUST
Pimpy
Iraq is still treading forward. I'm curious to hear the news about what's going on with Alaq and what they find out because what they're reporting is not all peaches and cream. But apparently he is still there working so it can't be all that bad IMO...
Pimpy
Alaq, all kinds of crap coming out about him... Seems to me they were hip to what was going on damn near a year ago and this would explain whey there's so many restrictions taking place with the Iraqi Bank as well as other banks in Iraq and why it is that the United States felt like they had to take up a whole entire floor inside the Central Bank of Iraq...
The Central Bank of Iraq was forced to allocate an entire floor to the US Treasury department to monitor money transfer operations and prevent any illegal activities. Talk about a very clear violation of Iraq's sovereignty. This is how bad things have gotten...The United States has now taken up permanent residents within Iraq's central bank...
Article: "The Governor of the Central Bank of Iraq resigns" He's pressured out. There's all kinds of crap happening...he was behind some shady things and it looks like now he is resigning. They are going to say it had to do with his retirement.
https://dinarevaluation.blogspot.com/2024/08/rv-update-by-pimpy-9-august.html
