The governments of Iraq and Lebanon have signed a Memorandum of Understanding (MoU) wherein Iraq will supply Lebanon with quantities of fuel and crude oil.
The agreement, in line with Cabinet Decision No. 23265 in 2023, aims to support Lebanon's electricity sector and strengthen cooperation between the two countries, serving their mutual interests.
During the signing ceremony, Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, emphasized the renewal of the agreement for another year with an increased quantity of gas oil based on mutual consent.
Additionally, a new contract for crude oil will be arranged, and technical committees from both sides will define the appropriate mechanisms for executing the agreement, including quantity determination, transportation, loading, unloading, and other logistical and technical commitments. Subsequently, both countries' cabinets will approve the joint committee's recommendations.
Lebanon's Minister of Energy and Water, Walid Fayyad, praised Iraq's support to overcome his country's fuel supply crisis for power stations. This gesture of support is deeply appreciated by the Lebanese government and people.
Reserve Bank Of Zimbabwe Owes Over $4bn For Goods And Services | Pindula (7/22/23)
The Reserve Bank of Zimbabwe owes more than $4 billion to banks and companies, including commodities giant Trafigura Group and South African Airways, for fuel, corn, and other goods and services.
Private credit has saved Zimbabwe’s economy from total collapse, according to John Mangudya, the central bank’s governor. He told Bloomberg:
The creditors were supplying Zimbabwe in good faith, supplying things like fuel in advance, which was consumed by Zimbabweans. It’s only right that the country repays.
Trafigura is Zimbabwe’s second-largest private creditor, owed $66 million, behind Holbud, which is owed $85 million. SAA is owed $61 million for airline services. Mangudya expects the recent appreciation of the Zimbabwean dollar against the greenback to continue, which should alleviate pricing pressures.
John Mangudya expects the recent appreciation of the Zimbabwean dollar against the US dollar to continue, which he believes will alleviate pricing pressures. He also expects to see negative month-on-month inflation in July.
The central bank’s quasi-fiscal activities have been criticised by the International Monetary Fund, which has urged authorities to end them. Zimbabwe cannot access credit from international financial institutions as it is already $17 billion in arrears. Zimbabwe’s Treasury plans to seek lawmaker approval to assume the central bank’s external obligations.
Former Finance Minister Tendai Biti is also on record criticising the central government for off-budget spending such as subsidies, loan guarantees, and tax exemptions, as well as the accumulation of off-budget debts or other financial obligations and sidelining of Parliament in key economic policy decisions.
Biti argues that laws affecting the economy have mostly been made through Statutory Instruments and the Presidential Powers (Temporary Measures) Act, bypassing the role of Parliament. He argues that Parliament should take back its powers to act on policies that affect the economy to prevent negative consequences for millions of people, particularly pensioners.
Harambe: Indonesia launches a national exchange and clearing house as it steps up crypto regulation (7/21/23)
Indonesia has jumped on the crypto regulation bandwagon. As interest in crypto keeps growing worldwide, governments are trying to figure out how to handle these digital assets well. In this way, Indonesia has made a big step forward by opening its national crypto market and clearing house.
By making a platform for trading cryptos that is safe and regulated, Indonesia hopes to boost investor trust, attract foreign investments, and stop illegal activities that are linked to cryptos.
Indonesia’s crypto regulation launch
According to a statement released Thursday by the nation’s commodities regulator, Indonesia’s stock market and clearing house for digital assets are now functioning after numerous delays.
In the past few years, Indonesia has become one of the crypto markets with the fastest growth. Many people in the country know a lot about technology, and many people who don’t have bank accounts but want other financial services have helped coins spread quickly.
However, the crypto business couldn’t grow well because there weren’t any clear rules, and there was a chance of scams.
Indonesia has a unique connection to crypto. Investment in these digital assets is permissible, but their usage as a method of exchange is not.
Throughout the outbreak in Indonesia, crypto coins became increasingly popular as investments. Additionally, as of June, more than 17.54 million people in the nation had invested in digital assets. This number far exceeded the total number of investors registered with the local stock exchange.
However, recent developments in the world economy, including the increase in interest rates, have tempered public interest in cryptos. Crypto transactions in Indonesia between January and June were 66.44 trillion rupiah ($4.42 billion), down 68.7% from last year.
Previously, it was reported that Bappebti would restrict the sale of cryptos to local transactions while maintaining them in line with global market developments. There will be a one-month window for licensed merchants to join the exchange.
As of at least December 2021, development on the project had begun. In September 2022, Pang Hue Kai, CEO of one of Indonesia’s 25 licensed crypto exchanges, Tokokrypto (partially controlled by Binance), hailed the endeavor as “a catalyst for the Indonesian crypto ecosystem.”
Because of the time it takes to evaluate prospective exchange members, the original launch date of December 2022 has been pushed back to June 2023. Trade Minister Zulkifli Hasan announced at the time, welcoming all operational crypto exchanges with national registration.
Vietnamese banks prove attractive to foreign investors | Vietnam+ (7/21/23)
A number of Vietnamese banks are grabbing interest of foreign investors who are major banks or financial groups.
The Southeast Asia Commercial Joint Stock Bank (SeABank, coded SSB) has revealed a plan on the private placement of nearly 95 million shares, equivalent to 4.63% of its current shares and over 3.7% when the placement is completed, to a professional stock investor expected to be the Norwegian Investment Fund for Developing Countries (Norfund).
SeABank said the offering price will be not lower than 12,861 VND (over 0.5 USD) per share, which was stated in the audited 2022 separate financial statement, and the highest price is expected at 37,032 VND per share. The bank is set to collect a minimum of more than 1.2 trillion VND and a maximum of over 3.5 trillion VND from this deal.
Saigon - Hanoi Commercial Joint Stock Bank (SHB, coded SHB) is also attracting foreign investors. Reuters recently cited its private source as saying that SHB is preparing to offer 20% of its shares’ value to a strategic partner. The names of the parties concerned have not been disclosed, but some information sources said several potential investors from the Republic of Korea and Japan have had meetings with SHB.
The value of this deal is hope to stand at 2 - 2.3 billion USD, and the transaction will be completed in 2023 or early 2024 after getting approval from the State Bank of Vietnam (SBV).
Foreign investors’ ownership of SHB is just around 7% at present, much below the ceiling limit of 30% set by the SBV. This is considered a promising opportunity for foreign investors.
Earlier, SHB finished the transfer of 50% of the charter capital of its SHB Finance Co. Ltd to Thailand’s Bank of Ayudhya Public Co. Ltd (Krungsri), a strategic member of the MUFG group of Japan, after over one year since SHB and Krungsri signed a capital transfer contract. The two sides will continue transferring the remaining 50% after three years as stated in the contract.
Krungsri once said that it would spend 5.1 billion THB (156 million USD) on this transaction.
The stocks of SSB and SHB have also been listed in the basket of VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on the Ho Chi Minh Stock Exchange (HoSE). Insiders said the presence in the VN30 basket will enhance these stocks’ attractiveness and values even further.
Meanwhile, more than 1.19 billion shares of Vietnam Prosperity Joint Stock Commercial Bank (VPBank, coded VPB) will be offered through a private placement to Sumitomo Mitsui Banking Corporation (SMBC) of Japan’s Sumitomo Mitsui Financial Group, Inc (SMFG). They equal over 17.73% of VPBank’s current shares and 15% when the placement is completed.
The transaction will be made in the third or fourth quarter of 2023 after the SBV approves and the State Securities Commission confirms its reception of all necessary papers.
With a planned offering price of 30,159 VND per share, VPBank hopes to gain more than 35.9 trillion VND (1.5 billion USD) and raise its charter capital by over 11.9 trillion VND. This deal will set a new record in transaction value in the banking sector.
Likewise, leaders of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Lien Viet Post Joint Stock Commercial Bank (LPBank), and Nam A Commercial Joint Stock Bank (Nam A Bank) said their banks are planning to increase charter capital by selling shares to foreign investors.
Nguyen Quoc Hung, Secretary General of the Vietnam Banks Association, said with rich experience, foreign banks and financial groups will make consideration before pouring money so as to ensure profitability and improve the governance capacity of domestic credit institutions.
Many banks have reached or almost reached the ceiling limits of foreign ownership. However, others still have low foreign ownership rates such as SeABank, Nam A Bank, Bac A Bank, BVBank, and KienLongBank. This is one of the factors making Vietnamese banks more attractive to foreign investors, he opined.
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie in Iraq and guests
Frank26: They are pairing the Iraqi dinar with many currencies from all around the world…and that pairing is bringing the Iraqi dinar on a International Stage….not full accepted yet but greatly appreciated.
Please listen to full video for all the information .
I keep hearing rumors that whales have money. I have great whale contacts- phenomenal whale contacts in Reno, Miami, Shanghai and Hong Kong and Zurich. And I cannot find a single one that has spendable dollars. Quite a few of them talk about having money in their accounts but they can’t get to it. Its on hold. But are they very hopeful they will soon see a release of it- yes. But they just have not seen it yet.
Most of my contacts have just gone dark … I still think things are exceptionally positive. I am trying to make myself stay calm during this process. Just buckle up and stay ready. Start getting your ducks in a row with preparations.
MilitiaMan (KTFA)
We’ve been waiting for and are still waiting for the 2023-2024 budget to have allocations to pay for things and to get projects started…we have to see if Sunday is one of those days that subsequently presents itself for them to expose things/roll out process.
They (Iraq) need to expose some things to us and this exposure could happen as early as tomorrow or Sunday or Monday. They have work to do and contracts to deal with. People need to get paid so they are going to have to show their cards. Basically that is where they are at I believe the short term looks better than the long term right now.
Sandy Ingram
If Iran were to sway Iraq to go against their signed agreement with the Untied States, both Iran and Iraq could end up under sanctions. This would mean Iraq would no longer be able to secretly help Iraq to stay afloat. Everybody knows Iraq is helping their neighbors, it’s how they help them that matters. No US dollars.
Bruce (The Big Call)
[via WiserNow]
We’ve been told that the redemption centers are now on high alert as of …Friday. And the information we have from another source directly connected to the process is that we should be there for our notifications…Friday, Saturday or Sunday. We could get notified anytime within that period…Let’s see what happens with this window.
Mountain Goat
I know we are right at the cusps of this event happening. I know for a fact that Iraq is now a full member of the WTO yet they hold back the news and officially announcing it. Why? Could it be they want Iraq to coordinate this event with the reinstatement of the dinar?
FIREFLY: TV saying the oil and gas law need to include the decision of the federal court.
FRANK: There it is again. Notice that the HCL is the key to the budget. Notice that the budget is the key to the new exchange rate. It is also the key for Iraq to stop depending on other countries for energy…
FIREFLY: Iraq is on the verge of urban renaissance upon implantation of the budget. This is on our news.
FRANK: You think a program rate…a sanctioned toilet paper valued program rate currency is going to take them into the renaissance? I mean how many ways can Sudani encourage the citizens of Iraq, ‘It’s coming.’
Global Currency Revaluation of 127 Countries of the World:
On Tues. 18 July monies began flowing out of Zurich; the Iraqi Budget with the new Dinar Rate in it was released to the Iraqi Provinces and funds were positioned for distribution; Paymasters were given liquidity and Whales were beginning to be paid. As of Sat. 21 July some Whales had been paid, some had not, all could see monies in their accounts and all were under NDAs.
On Wed. 19 July the Iraqi budget with the new Dinar Rate in it was implemented in all Iraqi Institutions.
On Thurs. 20 July the Global Quantum Financial System officially launched the ‘FedNow Instant Payment System,’ while therefore Tier 4b(Us, the Internet Group) could expect notification at any time.
Thurs. 20 July TNT Tony, RubixQ on Telegram: Multiple sources have reported that disbursements have been completed this week and everything was now done.
Thurs. 20 July Bruce: as of Fri. 20 July Redemption Centers were on high alert. Tier4b (Us, the Internet Group) notifications should come sometime between Fri. 20 July to Sun. 23 July. On Wed. 19 July Paymasters were authorized to send emails out to Bond Holders telling them that they had access to their funds (on an unknown date).
On Sun. 23 July all financial changes was expected to complete.
The last week of July US citizens would receive restoration allowances that paid them back illegal interest given to the Cabal, plus SS payments would increase.
On Wed. 23 August the new gold/asset-backed Quantum Financial System would be made public.