Economist Discusses New Procedures After Halting Transfers
In a recent press conference on September 5, 2024, an economist from the International Monetary Fund (IMF) addressed the public regarding new procedures implemented after the decision to halt certain transfers. This halt was deemed necessary due to unforeseen economic conditions and the need to reassess financial strategies.
Overview of New Procedures
The new procedures are designed to ensure financial stability and responsible fiscal management. The economist emphasized that the IMF is closely monitoring global economic indicators and adjusting its policies accordingly.
This includes:
Enhanced Monitoring: The IMF will intensify its surveillance of economic trends and member countries’ fiscal health.
arge;"> Strategic Reallocation: Resources that were previously allocated to halted transfers will be redistributed to support critical economic sectors.
Policy Adjustments: The IMF will collaborate with member countries to develop and implement policies that promote sustainable economic growth.
Impact on Global Economy
The changes are expected to have a significant impact on the global economy. By halting transfers and reallocating resources, the IMF aims to strengthen economic resilience and foster a more stable financial environment. This could potentially lead to improved credit ratings for some countries and increased investor confidence.
Response from Economists and Analysts
Economists and financial analysts have responded with a mix of caution and optimism. While some are concerned about the immediate effects on economies dependent on IMF transfers, others see the move as a proactive step towards long-term economic stability.
The new procedures outlined by the IMF economist reflect a strategic approach to managing global financial challenges. By focusing on enhanced monitoring, strategic reallocation, and policy adjustments, the IMF is taking steps to ensure that the global economy remains on a path to stability and prosperity.
Closing
The IMF's decision to halt transfers and introduce new procedures is a significant development in the global financial landscape. It underscores the organization's commitment to responsible fiscal management and its proactive role in addressing economic challenges. As the world continues to navigate through evolving economic conditions, the IMF's actions will be closely watched by economists, policymakers, and financial markets alike.
Mawazine News _ Baghdad “The statements and interviews conducted by the Governor of the Central Bank of Iraq, Ali Al-Alak in New York over three days with US Treasury officials, gave a new boost and confidence to the Iraqi banking system,” economic expert Osama Al-Tamimimi said.
Al-Tamimi described the advanced steps to join the global banking system in terms of expanding experience and international banking relations, which will increase knowledge in control procedures for external transfers and direct sales of the dollar.
The economist explained: “Thus, it will lead to the development of systems in line with international and local standards and the development of the system of covering foreign trade and protecting the banking and financial sector from money laundering and terrorist financing.”
He went on to say: “The Central Bank of Iraq will stop dealings in the future with foreign correspondent banks and reduce dependence on them, after developing the Iraqi banking relations network, gaining the necessary experience and reducing the commissions achieved due to external coverage transactions and the end of work. The electronic platform gradually in order to transfers and replace them with direct banking relations between Iraqi banks and the international correspondent bank network, as well as stabilizing the exchange rate in the local market.
Welcome everybody to the Big Call tonight – it is Tuesday September 2nd and you’re listening to the Big Call - Thanks everybody for tuning in all over the globe, wherever you're listening from, and we thank you for being here for quite some time now. We're in our 13th year, and we just are just, we're just kind of like the Energizer bunny - We just keep on going. And whereas we don't expect to be here much longer, with a live call – here we are tonight - let's do this. Let's go ahead and pray the call in.
All right, guys, let's talk about where we stand in the Intel stage right now. Boy, last couple days, especially today, was really interesting because we were fairly quiet most of the day. A lot of the people that we go to or that we know of that are even tier three bond holders, were not getting their phone calls answered and they weren't getting calls callbacks to them either. And that's unusual.
Some of these guys are players, and it's always interesting when people like that don't get called back, or don't get through when they're trying to call a person.
This is because of the this is because of the NDAs that people are under, especially people tied to the bank and redemption centers, pay masters or the bond holders. All of that stuff is getting tighter and tighter now, every once in a while, we get a nice burst of information from one or two sources.
And this was a little different today, a little bit of a challenge. So previously to today, we were in the understanding as of yesterday, which was Monday, which was a holiday, right? It was Labor Day here in the United States.
But what we were getting was that we would get notified either of these two scenarios, either notified today and start exchanges Wednesday, which is tomorrow, or get notified Wednesday and start exchanges Wednesday. Well, we didn't get notifications today, so the second half of that notified Wednesday morning and starting exchanges on Wednesday is in play. It's in play.
It doesn't mean it's absolute, but it is the other information that we did receive yesterday. Now as far as today is concerned, bondholders are in some here's a scenario. In some cases, in some cases, they have received emails from three different banks, and those three banks are telling them they can look into their accounts and see the funds in those accounts.
But if they if they needed one more email, which some of them do, that I'm aware of, they need one more email from a specific bank. Then until they receive that email from that bank, they can't gain access to any of their funds until that happens. So they are on hold in a shotgun start like we are on hold for our shotgun, start until we get a toll free number to call to get our appointments set.
So I'm looking forward to something happening tomorrow, hopefully that'll take place. Other side of it, we talked last time, I believe it was due, was last Thursday, about AI being used for the call centers that we dial when we do get the 800 numbers - And so here's kind of how I'm hearing that it's going to go.
So if we get an AI voice, we're all used to that now. Anyway, we enter in the information that the voice asks for, and then when we get our zip code entered and all that, when we get enough information, we will be transferred to a live, real person at the redemption center that is closest based on our zip code.
So when you put your zip code in, put it in either based on where you go or based on where you work, or based on where you plan to exchange. Okay, put that zip code in so that it'll direct you to that redemption center that is closest to your zip code. Okay, that you have entered
That's a nice little added piece we got. And of course, I would much rather talk to a live person at the redemption center where I plan to go, because it's very possible that same person will be greeting you at the redemption center and helping you with your redemption of zim and your exchange of currencies.
If you have bonds other than the Zim bond, which we talked about as being redeemed, if you have sheet bonds, bring those let them know when you call to set your appointment at the redemption center level.
Or they may ask you this. The AI person may ask you that as well, have sheet bonds. If that applies to you, let them know, because they're going to allow a little bit more time for your appointment.
Because that's fact and its very important that you let them know exactly what you have so that they will allow enough time your full appointment.
They want us in and out, overall average, in 25 to 35 minutes. I think some people it's going to be a real challenge, but most of us this is probably can get in and out in 2535 minutes, and then, and that's quite a few steps That is lot of steps.
When I went to set up a certain bank, I think it took us an hour and a half set up one account. So I don't know about the world, with everything we've got, how we can get in and out of there in 25 to 35 minutes, but we'll see they have been practiced and practiced on doing these and working with the do that we machine. And I think it's going to be fun. It will be fun at some level.
We will learn, and it'll be a fun experience, open. And I think you'll be hopefully thrilled with what happens when you walk out of the redemption center.
Redemption center not bank, because we know that our rates are going to be much higher on certain currencies at redemption center, for example, no zim will be redeemed at any bank only the redemption centers with the toll free number, they will offer you a contract rate which is quite high on the dinar.
They will offer you that, and that's a positive win/win - win for the bank or for the redemption center that is backed by Wells Fargo, and also for you and also for the country. So it's a win and win for everybody. But don't forget that. Let's see what else tonight.
I'll tell you. I think everything is pointing toward this going still this week, and it's only Tuesday. I'm hoping tomorrow's our day to get everything done, everything meaning, get our numbers - set our appointments - start exchanges, and we're out of there.
Now this is really going to be good.
Shall I touch on the Med beds? Med beds are primarily ready to go in anywhere from five to seven days after we exchange, depending on your situation, they are giving precedent preferential treatment - Let's call it - to Zim holders that have projects that plan to go two or 300 years to completion - or longer, and they also have and people that are in dire need, people that are really in bad shape, and they need that bed to get completely restored.
You let them know, if that's you, you let them know that when you go into the redemption center to an elkia, stroke battle. Let me know that you are one of those people.
Beyond that, is there anything else? I think, you know guys, it's been a long ride. We don't know if we're in our let me give you a little bit more information.
Some of you may have experienced things at your bank that are unusual or somehow wrong. What's going on with bank? Some deposites are not giving you full access to your deposit, as you are used to, the quantum financial system is fully connected, but some banks are kind of wrestling with it a little bit.
So I've heard of a couple things happening – I heard that. Wells, as far as I've heard, something's happening at Chase - I can't verify that as being real, but I know that the banks are doing their best. Now I will say this. We have heard in the last few days that several banks have had major arrests going on in their banking system across the country.
I don’t know if It's just a couple of different banks, or all the banks, but they're, they have signs up that they're hiring branch managers, wealth managers, tellers, all of that, new people, new blood.
So that's very interesting to me, especially at this time when everything should be set, redemption centers are fully staffed and so on, and we're looking forward to getting in and working with these redemption centers and getting everything that we need done, and if we need to Come back to set up additional accounts for our trust or our LLCs. In my case, we can do that. We can come back and do that maybe a few days later.
So that's what I wanted to share with you guys tonight. so let's pray the call out, Well, good night everybody. Thank you Sue. Thank you Bob. Thank you. GCK, thank you Pastor Scott and Jeannie, and also, much healing to you, continuing healing, Pastor Scott and also thank you satellite team getting the call out around the globe with the Starlink satellite system. Thank you for that, and appreciate everything you're doing. Thank you big call universe for listening. Thank you for tuning in. I appreciate you. We appreciate you. God bless you all, everybody.
Iraq’s inflation rate has decreased to 4% in 2024, showing economic improvement after fluctuations, aided by government stabilization efforts.
Highlights
📉 Inflation rate drops to 4% in 2024.
📊 Significant improvement from 6.42% in 2023.
🔄 Fluctuations observed from 2020 to 2022.
🏛️ Government actions support economic stability.
📈 Continuous monitoring by regulatory bodies essential.
✅ Reflects overall economic health of Iraq.
🌍 Reported by American Magazine Global Finance.
Key Insights
📉 Decreased Inflation: The decline in inflation to 4% indicates effective economic policies and reflects improved purchasing power for citizens. This stability can boost consumer confidence and spending.
📊 Year-on-Year Comparison: The drop from 6.42% in 2023 to 4% in 2024 is a notable shift, suggesting that previous inflationary pressures have been alleviated through strategic interventions.
🔄 Historical Fluctuations: The inflation rate has varied over the years, highlighting the economic challenges Iraq faced, such as political instability and external factors affecting the economy.
🏛️ Government Intervention: The Iraqi government’s proactive steps in regulating the economy play a pivotal role in stabilizing inflation and restoring public trust in economic management.
📈 Importance of Monitoring: Continuous scrutiny by regulatory bodies ensures that inflation data is accurate, helping policymakers make informed decisions to sustain economic growth.
✅ Economic Indicator: Inflation serves as a critical barometer for Iraq’s economic health, impacting everything from investment to daily living costs for citizens.
🌍 Global Recognition: The acknowledgment by publications such as Global Finance underscores the importance of Iraq’s economic developments on the international stage, potentially attracting foreign investment.
Al-Mandlawi's Discussion on Bilateral Relations and Investment Opportunities with the UAE Ambassador
On September 5, 2024, Acting Speaker of Parliament Mohsen Al-Mandlawi engaged in a significant meeting with the new United Arab Emirates (UAE) Ambassador to Iraq, Abdullah Matar Al-Mazrouei. The discussion centered around bilateral relations between Iraq and the UAE, with a particular focus on economic and investment opportunities.
Overview of the Meeting
During the meeting, Al-Mandlawi and Al-Mazrouei explored ways to strengthen the ties between Iraq and the UAE, emphasizing the importance of cooperation in economic and investment sectors. Both parties expressed interest in advancing these areas for mutual benefit.
Bilateral Relations
Al-Mandlawi congratulated Al-Mazrouei on his new role and expressed confidence in the depth of relations between the two countries. The importance of strengthening these ties through the signing of bilateral agreements was also highlighted.
Economic and Investment Prospects
The meeting underscored the potential for increased economic and investment collaboration between Iraq and the UAE.
Both sides agreed that expanding these areas could significantly contribute to the growth and development of both countries.
Implications for Future Cooperation
The discussion between Al-Mandlawi and Al-Mazrouei sets the stage for enhanced economic and investment cooperation between Iraq and the UAE. This could lead to the signing of new bilateral agreements and the exploration of joint ventures in various sectors.
Conclusion
The meeting between Al-Mandlawi and the new UAE Ambassador to Iraq reflects a positive outlook for bilateral relations and economic collaboration. As of September 5, 2024, the focus on economic and investment opportunities signals a strategic direction for future engagement between the two countries.
Al-Mandlawi discusses bilateral relations, economic and investment opportunities with the UAE ambassador
Acting Speaker of the Council of Representatives, Mohsen Al-Mandalawi, received today, Wednesday, in his private office, the new Ambassador of the United Arab Emirates to Iraq, Abdullah Matar Al-Mazrouei, and his accompanying delegation.
During the meeting, the future of bilateral relations between the two brotherly countries were discussed, and the promising opportunities to advance them in all fields, especially at the economic and investment levels, in a way that achieves the common interests of Iraq and the Emirates, and reflects on the growth and development of the two countries and the well-being of the two dear peoples.
The Acting Speaker of the Council of Representatives congratulated Abdullah Al-Mazrouei, wishing him success in his diplomatic missions on the land of Iraq, while stressing the depth of relations that bind the two brotherly governments and peoples, and the importance of strengthening them by signing bilateral agreements in aspects that concern the two countries. link
