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 "Positive Development" - Wed. AM TNT Thoughts/News 2/20/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Post by Ssmith on Thu Feb 21, 2019 9:59 am

TNT

SusanaC:

harambe--ty for the article on zim currency change-(see below) --positive development for us that hold 2008/2009 zim...good

DeBarb:
Can anyone explain what the Bloomberg post about Zim actually means for us ?

SusanaC:
1:1 will be relaxed and the devaluation to progress so the rate of exchange for our zim will go up..that's the good news debarb--tony indicated 0.24 on screen on 2/16...we are still there and hopefully he will tell us how much is it slated to increase

Harambe:
Bloomberg: Zimbabwe Abandons 1:1 Peg Between Quasi Currency and the Do​llar


Zimbabwe’s government will drop its insistence that a quasi-currency known as bond notes, that it has issued, trades at par with the dollar, John Mangudya, the country’s central bank governor said.

While the government has insisted that bond notes and electronic transfers, known as RTGS$ are worth the same as dollars, they are currently trading at between 3.66 and 3.8 to the dollar on the black market.

The country is setting up an inter-bank foreign exchange market and wants to “establish an exchange rate between the current monetary balances and foreign currency,” he said in a monetary policy statement delivered in the capital, Harare, on Wednesday.

https://www.bloomberg.com/news/articles/2019-02-20/zimbabwe-abandons-1​-1-peg-between-quasi-currency-and-the-dollar

KMan:
Good info on the ZIM in the Q&A.......I have Bond Notes cash what happens to my money now that Government has introduced RTGS Dollars? Nothing. You already have RTGS dollars. Bond notes and coins are part of RTGS dollars.

https://news.pindula.co.zw/2019/02/20/frequently-asked-questions-faq-o​n-rtgs-dollars/

Sounds like the ZIM is a go to me...Smile

Tishwash:
Iraq: Economic reform is achieved by effective economic leadership


20th February, 2019 by Samir Al Nusairi

The main tasks of the government program are to strengthen the economy and rebuild it according to a reform strategy based on time programs, policies and procedures implemented by the ministries and concerned parties according to the principle of service of the people and achieve reform and economic stability and reconstruction and revitalize the economic cycle and achieve prosperity for the people who suffered during 15 years of instability and terrorism and loss For the basic services

In order to be able to achieve the new government these goals and wishes should lead the main rings of national economic leaders in the next phase because the national economic elites in various disciplines must be Have an active role in analyzing and assessing the economic reality in Iraq after 2003 and to identify failures and challenges and identify visions, policies and reforms needed for the economy with added and enriched the successful experiences of the bright spots that emerged during the suffering of Iraq from the financial and economic crisis experienced by departing from the national sense of their love for Iraq and its people

That the observer and observer of the role of government institutions during the lean years passed by Iraq and still passing by in terms of management of the Iraqi economy notes that there are failures and challenges and black pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony strategies developed in partnership with international organizations and experts with the reality of the Iraqi economy

Which depends mainly on oil rents and the consequent structural and structural imbalance in the economy and the lack of stability in the financial system and the monetary system due to the deficit in non-oil revenue and balance of payments deficit and the chronic deficit In addition to the lack of coordination between the financial and monetary policies, in addition to the mismanagement of public funds and the obvious weakness in the economic leadership of most of the governmental economic institutions, in addition to the lack of involvement and giving an active role to the private sector in economic decision-making and shortcomings in the legislative environment governing the economy.

All the above failures, combined with political and security instability and the war on terror, have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy that I believe is the solution to our economic reality.

The challenges presented above have created the pessimism and gloomy outlook of our economic future among many of our economic elites. But I believe and believe many economists and financial experts that there are points and promising and bright experiences that some economic institutions have done clearly and effectively during the years 2015-2018, .

One of the highlights of this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives defined in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism.

I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years. The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program.

In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to restore confidence in the banking system.

The Central Bank has proved its clear ability to interact and analyze obstacles to work and create conditions to overcome the challenges, and the road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy so I call on the national economic elites to interact with the points and experiences light and enrich them with their ideas and visions and proposals To build a strong national economy and overcome the challenges and correct the wrong tracks and dialogues transparent and calm without personal and partisan targets, because the abuse of our national economic institutions of sovereign is the abuse of Iraq and its people.

* Economist and banker link
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Post by Kevind53 on Fri Feb 22, 2019 12:14 am

so the rate of exchange for our zim will go up..
Hate to break it to you but 1000% of zero is still zero, and if you are a holder of what you call ZIM, that's what it's worth. My suggestion, frame it and hang it on your wall, it's kinda pretty and will serve as a reminder that a fool and their money are soon parted.

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"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

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