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  "Equal Integrity" - Sat. AM KTFA Thoughts/News 9/22/18

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PostSubject: "Equal Integrity" - Sat. AM KTFA Thoughts/News 9/22/18   Sat Sep 22, 2018 2:03 pm

KTFA

Walkingstick » September 22nd, 2018


BR.....The Central Bank announces the receipt of all dollar-specific issues announced that the Central Bank of Iraq on Saturday, he will receive all versions in dollars, noting that it comes to the prevention of jurisprudence in accepting or rejecting some foreign banknotes.

The bank said in a statement received by Alsumaria News that it would "receive all issues of foreign banknotes (dollar) from all banks that the banknote is good and according to the criteria set in accordance with the mechanism of receipt of foreign banknotes issued by the bank."

The aim of this is for regulatory purposes in order not to get the jurisprudence of some banks or exchange offices to accept or reject some of the foreign currency (dollar) circulation."

It is noteworthy that some banking offices refuse to buy or deal with the category of $ 100 from previous editions before 2006, in addition to not dealing with the category of one dollar.
Link

The central bank receives all dollar-specific issues

The central bank announced on Saturday that it will receive all the dollar-denominated issues, indicating that this comes to prevent judgment on the acceptance or rejection of some foreign currency notes.

A statement issued by the bank said that it would "receive all foreign currency issuances from all banks on the basis that the banknotes are good and in accordance with the criteria set out in the bank's foreign currency receipt mechanism."

The statement added that 'the purpose of this is for regulatory purposes in order not to get the jurisprudence by some banks or exchange offices to accept or reject some of the foreign currency (dollar) traded'.

http://almasalah.com/ar/Archiv.....A7%D9%82/1

The Central Bank announces the imminent receipt of special issues of the dollar

BAGHDAD (Reuters) - The Central Bank of Iraq (CBE) announced on Saturday that it would "receive all the dollar-denominated issues," indicating that "this comes to prevent judgment on the acceptance or rejection of some foreign currency notes.

The bank said in a statement received by SNG that it would receive all foreign currency notes from all banks on the basis of the criteria set by the bank's foreign exchange receipt mechanism.

"The aim of this is for regulatory purposes in order not to get the jurisprudence of some banks or exchange offices to accept or reject some of the foreign currency (dollar) circulation."

It is noteworthy that "some banking offices refuse to buy or deal with the category of $ 100 from previous editions before 2006, in addition to not dealing with a category of one dollar.

http://sngiq.net/wordpress/?p=151123

To all banks ( foreign currency notes (USD) )
https://cbi.iq/news/view/857

Pat » September 22nd, 2018

Walkingstick, Frank, Delta....
The article posted about the CBI accepting the USD for exchange, if I read it correctly, would that be the stopping of the MCP? Thank you.

Adeleon4 » September 22nd, 2018

If Iraq has new strong currency with equal integrity as dollar all of the old dollars stuffed in camels will be brought in ..in exchange for the shiny money.. imo

Samson » September 22nd, 2018

Iran foils smuggling of 35 kg of gold to neighboring country


2018/9/21 19:55

Iranian customs have foiled an attempt to smuggle 35 kilograms of gold bullion hidden in a car while being searched at the Turkish border.

A customs statement at the Razi crossing inspected one of the vehicles leaving for Turkey, and by monitoring cargo information, they raised their attention to changes in the structure of a four-wheel-drive vehicle, according to a customs statement.

The statement said that customs officers had examined various parts of a Toyotia Land Cruiser and found in the car bumper 35 kilograms of gold in the form of alloys valued at more than 14 billion Tuman (equivalent to approximately $ 100,000).

Iran currently forbids the traveler from taking more than 150 grams of gold and jewelry, while allowing hard currency, gold jewelry and raw gold to enter the country without restrictions. LINK

Don961 » September 22nd, 2018

Iraq ranks tenth in the list of the most affluent Arab countries


In the local 22 September, 2018

BAGHDAD (Reuters) - Iraq ranked 10th on the list of the most affluent countries in the Arab world, according to the Social Progress Index of the US-based Professional Progress Empowerment and the Harvard School of Business.

The UAE ranked first in the Arab world and 39th in the world, followed by Kuwait, which ranked 45th in the world, followed by Tunisia ranked 56th in the world, then Saudi Arabia, Jordan, Lebanon and Morocco.

The Social Progress Index, which includes some 133 countries around the world, is based on more than 50 items, all of which reflect the adequacy of basic needs of citizens.

The most important criteria of the indicator are: health status of citizens of the state, personal safety, access to information available to them, education, sanitation and sustainability, as well as per capita output, personal freedoms, choice and tolerance. link

Walkingstick » September 22nd, 2018

BR......Zimbabwe Currency Reforms May Take Five Years, Mangudya Says

September 21, 2018, 10:23 AM EDT Updated on September 21, 2018, 4:41 PM EDT

Reforms include reducing fiscal imbalance, boosting confidence

Zimbabwe abandoned own currency amid hyperinflation in 2009

Zimbabwe may take as long as five years to reintroduce its own currency because the country needs to address a fiscal imbalance, boost investor confidence and regain access to foreign loans, Central Bank Governor John Mangudya said.

The southern African nation has relied mainly on the U.S. dollar since scrapping its own currency in 2009 to halt hyperinflation that saw prices double every day. Newly appointed Finance Minister Mthuli Ncube has said he favors a return of the Zimbabwean dollar.

The country’s current economic fundamentals are weak, and the authorities need to ensure that both business and consumer confidence improve, fiscal imbalances that are bringing pressure to bear on the financial-services sector are reduced, and the state is able to raise foreign loans, Mangudya said in an interview Friday with Bloomberg Television in New York.

“When those things are done, then you can have your local dollar,” he said. “Within the next three to five years we will be able to achieve what we want to achieve on the currency reforms.”

Economic Stabilization

President Emmerson Mnangagwa’s administration, appointed earlier this month, is developing a plan to help stabilize the economy, after almost two decades of mismanagement under former President Robert Mugabe’s autocratic leadership. The country has faced cash shortages for at least the past two years as businesses and individuals moved money offshore and the import bill increased after exports collapsed.

The economy needs to be stabilized “sooner rather than later,” Ncube said in a separate interview with Bloomberg TV. “We need certain triggers such as for instance making sure that we have a full monetary policy committee that’s working, we are able to move to a market-based allocation of foreign exchange.”

The government is engaging foreign creditors on clearing its international debt, he said. Mnangagwa has said his government plans to prioritize the repayment of about $1.8 billion of arrears to lenders to enable the Treasury to borrow again. In a separate event in New York on Friday, Mangudya said that he hopes arrears are cleared by September 2019.

The government will also seek to enter an staff-monitor program with the International Monetary Fund in January that should end in June, the Reserve Bank governor said.

Agriculture Reform

Zimbabwe’s ruling party is targeting an annual economic growth rate of at least 6 percent over the next five years, attracting $5 billion in foreign direct investment and $10 billion in domestic investment annually. The president has pledged to revive agriculture, mining and manufacturing to accelerate economic growth, which the International Monetary Fund forecasts will be 2.4 percent this year, compared with 3 percent in 2017.

The economy will expand 4.5 percent to 6 percent this year and 7 percent or higher next year, Mangudya said. Inflation will be about 3 percent to 7 percent this year, he said.

Food output slumped under Mugabe’s rule after the violent seizures of white-owned land in the former British colony. The government plans to modernize, mechanize and industrialize agriculture to ensure the country has food security, and is targeting a surplus of crops including corn and wheat within two years, Mnangagwa said in an interview in New York on Friday.

https://www.bloomberg.com/news/articles/2018-09-21/zimbabwe-currency-reforms-may-take-five-years-central-bank-says
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