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DINARESGURUS.BLOGSPOT.COM_________________ _______

Sunday, January 7, 2018

CHATTELS TIDBIT, 7 JAN

Article:  "Maliki stresses the importance of ending the Kurdish delegation problems between Baghdad and Erbil under the Constitution"    [reference Guru mike 1-6-2018  "...pay them the 17%, all of this is written in Iraq's constitution."]  My reading/understanding is that the 17% figure is not stated in the Constitution. That figure was agreed upon by the Constitutional Committee in 2003 until a census was conducted. It is arguably, as Abadi says, a political agreement. I do not believe that the Kurds have actually ever received the 17% although it has been budgeted as such in previous years.

MILITIAMAN TIDBIT: DELETE THE ZEROS PROJECT, 7 JAN

MILITIAMAN: 
Article: "With the support of the United Nations .. Abadi is preparing to launch a comprehensive project for "reconciliation and zeroing"…National Reconciliation is (imo) a last step to becoming UNITED politically and culturally…Along with that is the UNITY of a countries National Currency and one that has no restrictions, no multi currency practices associated with it without acknowledgement and approval from the IMF. (imo) The National Currency once National Reconciliation is full achieved "may become" fully International and with both the Kurdistan and Iraq Language on it.



...We have learned the new currency that will work in the ATMs will be of the lower denomination classes, all the while banks and their employees are now educated on the matter as of the present time…We now also understand there is a new Holiday that will go down on the 10th of January in perpetuity for all of Iraq…That is UNITY and UNITY is coming in the short period…wink…Zeroing is in my opinion the Delete the Zero project, Zeroing out from 20i7 into 2018

DINAR IRAQ & DONG VIETNAM UPDATE, 7 JAN

So what did the CBI have to say to me yesterday?
Question: Is everything still on path to re-instate the IQD? Answer: The IQD is already re-instated. There are no security or political problems in Iraq that interfere. The signed paperwork has been forwarded and was approved by all needed entities.
Question: Have you already launched the new currency notes? Answer: We decided to re-do the lower category notes in polymer. These have not yet arrived from the vender.
Question: Can you give me some info on the ATMs?
Answer: What do you want to know?
Question: Are the ATMs dispersing the new lower category notes?
Answer: Not yet, as I just said not all these notes are ready. Some machines were activated and programmed for the 3 zero notes in order to prevent a cash shortage in circulation. Due to the electronic banking efforts we have created a shortage of notes beyond our planned limits. The plan is and always has been to load the ATM with only the newer notes and use the machines to launch these notes. This is still the plan.
Question: Is the new re-instatement rate now being used by the government in payrolls?
Answer: No, the Finance Ministry is still paying on the existing program rates and will not change over until the global community rolls it out. This is the event we are waiting for.
Question: What is the plan to rollout the re-instatement rate to the global exchanges?
Answer: Both the CBI and the Finance Ministry would like to see the foreign currency exchanges updated as soon as possible but we realize there are formal protocols that must be followed.
Question: Can you give me a tentative timeline?
Answer: We are told this could happen sometime in mid to the end of the month of January. Our accounting systems would best be served if we begin the new fiscal year with this news process. This is anyhow the plan.
*****
Article: “Iraqi and US banks will meet in Washington“ Love this…”the Iraqi financial sector needs to activate its development role is commensurate with the capabilities of the country ‘s economic that require banking services capable of dealing with large numbers” It continues to amaze me when someone posts “no float”. Do you really think the CBI could RV the currency with 34+ trillion sitting in Iraqi homes? It is simply not possible. As stated in the IMF Article IV from 2012, I believe once the dinar is stable (within 2% spread) the IMF will give the green light to move to Article VIII and let the CBI move to a more flexible exchange rate (float). We need to wait this out, which could be several months. The good news is that until currency reform begins, there is no private investment.
*****
HDBank shares surge on market debut Around 981 million shares of HDBank listed on the HCM City Stock Exchange on Thursday at VNĐ33,000 (US$1.46). After the listing, HDBank, or HCM City Development Bank as it is formally known, has become one of the 20 heavyweights on the southern bourse with a market capitalisation of $1.43 billion. Soon after opening, HDB soared 17 per cent to VNĐ38,600, not too far from the daily ceiling of 20 per cent. It went on to hit the ceiling, closing at VNĐ39,600. The volume topped 32.3 million shares, with foreign investors buying more than 5 million. Earlier the bank had raised more than $300 million by selling a 21.5 per cent stake to foreign investors. Foreigners can buy another 8.5 per cent to reach the maximum permitted 30 per cent whereas in many other listed banks the limit has already been reached. HDBank is the first bank to go public in 2018 and the eighth lender to list on HoSE. Fred Burke, managing partner of Baker & McKenzie Law Firm — the legal advisor to HDBank, which also advised the listing of budget airline Vietjet Air — said: “Listing like this one really shows how far Việt Nam has come in terms of building its own capital market.” He told Việt Nam News that the airline has gained a lot of visibility globally and the bank also has some very strong selling points, which would attract investors. “For example, its non-performing loans ratio is very small compared to other banks in Việt Nam.” Last year, the bank earned a pre-tax profit of VNĐ2.42 trillion, or 110 per cent up from 2016. Its non-performing loans ratio was 1.1 per cent. — VNS
***

DINAR GURUS UPDATE, 7 JAN

1-7-2018   Intel Guru Jester  ALSO SAYS SOME PEOPLE ARE STARTING TO USE CARDS IN HIS STORE... NOW... NO WAY OF KNOWING IF THEY ARE LOADED WITH WHATEVER OR IF THAT IS A COINCIDENCE... BUT THE COMMENT WAS MADE... I TAKE THE INFO AS HIGHLY CONFIRMED IT CAME STRAIGHT TO ME...NO ONE... AND I MEAN NO ONE... KNOWS THE WHOLE PLAN... THAT INFO IS SIMPLY NOT GOING TO COME... BUT I AM FEELING PRETTY GOOD ABOUT THINGS RIGHT NOW... LOOKS CLOSER THAN EVER...   [post 2 of 2]

1-7-2018   Intel Guru Jester
   AS IVE SAID BEFORE WE KNOW WHAT IS GOING ON WHAT THEY ARE DOING AND YOU DO TOO WE JUST DON'T KNOW THE FULL SCHEDULE...REMEMBER WHAT I TOLD YOU... JUST BECAUSE THEY RV DOES NOT MEAN ANYONE OUTSIDE IRAQ IS GUARANTEED ANYTHING... ANYWAY WITH THAT SAID I DID GET SOME NEWS YESTERDAY STRAIGHT FROM THE SANDBOX...SANDMAN... MY BUDDY WITH THE BROTHER IN BAGHDAD LET US KNOW THAT THERE ARE SOME POSITIVE INDICATIONS HAPPENING... SAYS ABADI IS ON THE NEWS TELLING THEM IT IS CLOSE AND THEY SHOULD ALL BE HAPPY PRETTY SOON...   [post 1 of 2....stay tuned]

1-7-2018   Newshound Guru Kaperoni   Article:  "Iraqi and US banks will meet in Washington"   Love this..."the Iraqi financial sector needs to activate its development role is commensurate with the capabilities of the country 's economic that require banking services capable of dealing with large numbers"   It continues to amaze me when someone posts "no float".  Do you really think the CBI could RV the currency with 34+ trillion sitting in Iraqi homes?  It is simply not possible.  As stated in the IMF Article IV from 2012, I believe once the dinar is stable (within 2% spread) the IMF will give the green light to move to Article VIII and let the CBI move to a more flexible exchange rate (float).  We need to wait this out, which could be several months.  The good news is that until currency reform begins, there is no private investment. 

DINAR RECAP NEWS: Delete zeros priority , 7 JAN

26/11/2017 12:00 AM
We are on the doors of the year 2018 Or is the date of deletion of the three zeros of the Iraqi dinar a question addressed to the makers of monetary policy ?.
The past years have seen widespread debate about the advantages and disadvantages of deleting zeros.
Which brings this debate back to the forefront, but we are at the beginning of the road towards a rational economic reform that restores the country’s strength and strength after being subjected to several tremors almost paralyzed.
I see that the return of the subject delete the zeros to the forefront at a time when the steps of the reform calmly and slowly and unrivaled is a real vision to restore the real value of the Iraqi dinar to remain master of currencies at the level of local trading without rushing on the acquisition of the dollar to invest outside the country, and perhaps the advantages of the dinar equivalent with The dollar in terms of value, content and appearance of the debt to invest domestically, because it is difficult to invest currencies in the world outside the dollar as the currency of the most receptive and popular in transactions and investments.
This and other advantages lead to the adoption of consideration of this project and study the possibility of its application during the year 2018 as one of the basics of monetary and banking reform.
Perhaps follow the steps in reducing the exchange rate of the dollar gradually after the challenge of security will devote convictions and accept the deletion of zeros, which faced in a timely split between supporters and opponents because of poor understanding of raising zeros, and importance and advantages, especially when some believe that the deletion of zeros will reduce the size of the reserves of dinars because Their view of their size is not to their true value.
It should be noted that monetary policy had followed a balanced and balanced plan to reduce the exchange rate of the dollar against the dinar and succeeded to some extent fixed on what it is now, where it was able to reduce from 200 thousand to 100 dollars to 120 thousand dinars and the goal to reach 100 thousand Dinars but circumstances prevented timely completion of the gradual reduction.
Today, it is easy for the Central Bank of Iraq to work on the principle of gradually reducing the exchange rate to the extent that it can be equivalent to the dinar against the dollar, so as to accept and digest the process of deleting zeros, so the advantage of reducing the size of money assured the owner to keep a small amount of cash with the bone market value And actual.
For this, the deletion of zeros or raise them from the Iraqi currency will make them enjoy these advantages in the field of compactness and commercial transactions and the risks are much lower than the large cash volumes.
The bottom line is that it is necessary to adopt the Central Bank of Iraq for the project to delete the zeros and work on its implementation from now in order to achieve the objectives of reducing the size of the monetary mass, and required a media program to devote convictions to the importance of this project,

IQD News Update (RANT #51)

BANK STORY, 7 JAN

Brendad:
Bank story from an elderly lady that I gifted some dinar to.

I just just ran into an elderly lady that I gifted some dinar to, she was so excited, she said while she was at the bank earlier this morning, her and the banker had a deep conversation about money.

She told the banker that she was holding dinar, when she told the banker how much, the banker told her to keep it in a safe place and don’t talk about it.

She told her that it was real and she will be able to exchange it for USD very shortly.

Elmer - Beyond the Doubt, 7 JAN

Elmerf123456:
Beyond The Doubt


Doubt is sometimes a sneaky way to be lazy. When you doubt your abilities you don't have to go to the trouble to use them.

Go ahead, challenge yourself, your ideas, beliefs, perceptions, skills, with the intention of making improvements. Be careful, though, about doubting yourself too much.

Stay away from the kind of doubt that results in giving up. When you feel such doubt beginning to seep in, respond by renewing your commitment to persist.

Address your concerns, but don't let them stop you. Consider your doubts, but don't turn them into excuses.

Don't let apathy and inactivity slip in through the back door in the form of doubt. As burdensome as the challenges and setbacks may be, you can always respond with positive action.

When doubt arises, see it within the larger context of all the great possibilities open to you. Then step beyond the doubt, into action.

Use what you have learned to pull you through. The challenge of the WAIT will be far less painful for those who do as opposed to the mental WEIGHT of those who had to get out prior to the end of the road. Stay focused on the blessings that are at the end of the road, not the obstacles you had to pass through to get to it. 

For victory awaits “Beyond the Doubt” E

"Why RayRen?" by (Anonymous) , 7 JAN

Posted by RayRen...10. I was given a start date and a time for the 800 numbers to be issued, and I will not tell you those dates and times.

I ask why? Are you so much better than we are? Is it not your job to provide us with information? Is that not why Guru's are here? Or is it to just dangle info out in front of us so we wonder all of the time. I have followed this like many others for years and personally am sick of all of the hype provided by you on your so called inside information and your deciding to not tell us now that you say you know the date and time. I thought all of you in the know people were racing to be the first one to tell us this information. Just so you call say you were right and then advertise it so people will buy more of what you Guru's are trying to sell to the public on your websites.I mean to be the first to publish the dates and times would be a great point to the public when you are trying to get them to send you money. Look at me.. send me money remember I was the first to give you dates and times.. Man Rayren you are passing up a great sales tool here..

Trust your hearts everyone, we are all in this together.. I know after this morning reading what I did that I personally will never read or believe anything coming from this Guru's website again. Toi say he has the date and time then to tell us he is not going to give the information.. I'm done with him.

From one who waits like all of us.

Exchange rates in the markets of Baghdad and Arbil 1/7/18

07/01/2018

Economy News _ Baghdad

The exchange rate of the dollar against the Iraqi dinar in the markets of Baghdad and Erbil, Saturday (6 January 2017).

Kifah Stock Exchange (Baghdad)

Selling price is $ 100 = 125,350 dinars

The purchase price is $ 100 = KD 125,300

Arbil Stock Exchange (North)

Selling price is $ 100 = 125,600 dinars

The purchase price is $ 100 = 125,550 dinars

Basra Stock Exchange (South)

Selling price is $ 100 = KD 125,400

The purchase price is $ 100 = 125,350 dinars

http://economy-news.net/content.php?id=10475

Restored Republic via a GCR Update as of Jan. 7 2018

Compiled 12:01 am EDT 7 Jan. 2018 by Judy Byington

A. Jan. 6 2018 9:25 pm EST HAS Call, Yosef: HAS Flashtel Call w/ Yosef Notes by Veronica 1-5-18 Replay: https://events.iteleseminar.com/?eventID=104370744

1. Yosef claimed that this was his final Flash-Tel Call, because we would be exchanging on Sun. Jan. 7.

2. On Jan. 15 the Tax Reform comes into effect.

3. On Jan. 18 the Chinese Yuan would become a Global Reserve currency and oil could be purchased with it.

4. Russia's Ruble would do the same.

5. There were two different financial systems running at the same time in the world. One was the old fiat system. The other was the new Quantum Hercules System.
....
6. The IFM, BIS, WB, UN, African and European Unions, have all been reformed.

7. Iran was the new power in the Middle East. With strong military might, they were in Lebanon, Syria, Kurdistan, etc. The Iranian rial was worth $30,000.

8. Release could occur Jan. 6 8:06 pm EST until Jan. 7 midnight EST.

9. The Gold Standard (and a lot of minerals) were the benchmark and served as the collateral for the world, bringing the Zim to 1:1 with the US $.

10. There was no taxation on exchange. The bank has processing fees. The money would be put into a trust automatically. You can put some in a checking account, or in any other form of account. If you take money out of the trust you will be paying taxes on the interests. Ask your Wealth Manager.

************

B. Jan. 6 2018 7:06 pm EST North Korea this Weekend, Sierra: "QAnon Team Member Zach: North Korea this Weekend!" by Sierra (NZ) - 1.6.18

In this Alex Jones interview with Zach, a member of the QAnon team, gives us the latest Alliance intel about North Korea activity taking place this weekend: https://www.youtube.com/watch?v=QLmgREfkQDQ.

1. 'Is a preemptive strike on North Korea the perfect flash-bang for bringing in the GCR?' Absolutely.

2. 'Is taking out all power in North Korea the most humane method for bringing this CIA proxy country to its knees overnight?' Definitely.

3. 'Should we light holders be feeling incredibly excited right now because victory is clearly taking place within days?' TOTALLY.

************

C. Jan. 6 2018 12:23 am EST Intel Alert: Operation Disclosure GCR/RV Intel Alert for January 6, 2018 https://operationdisclosure.blogspot.com/

1. All known rogue Cabal elements have been neutralized, with no signs of further rogue Cabal elements detected.

2. Alliance leaders will be at Camp David this weekend in preparation for the release, waiting for the final word of total victory over the Cabal.

3. Once total victory is declared from the top, the flood gates will open. The RV will be released. The GCR will be initiated, and GESARA will be announced.Technologies such as med beds, anti-gravity, zero-point energy will be disclosed as part of GESARA.

4. If total victory is not declared over this weekend, the war will continue until total victory is achieved.

**************

D. Jan. 5 2018 Hercules Banking System, GCR Funds: DINAR IRAQ & DONG VIETNAM UPDATE, 5 JAN

On Dec 27th the new I.T. System (The Hercules System) was activated and errors were discovered that in turn have been diagnosed and fixed. Starting Jan 1st 2018, funds were released with access to the funds by at least Jan 15th.

**************

E. Jan. 6 2018 10:39 am EST Assange Free, PedoGate, CIA Project Mockingbird, North Korea Takedown: (Video) QAnon Identified, Assange Free, P_nce/Bondi PedoGate, SpaceX, Elon Musk, North Korea Take Down

1. There was a soon-to-be takedown of the CIA-run North Korea - santioned by China.

2. On Mon. Jan. 8 at 5pm EST Trump would make a major announcement about the news media. CIA's Project Mockingbird, which has controlled news release, would end.

3. Assange was free and would be in the US within a week.

4. QAnon agent Zack named Mike Pense and Florida AG Bondi as major players in an international child trafficking ring run out of Florida, Indiana and Minnesota that included the sale of babies worldwide. Sessions, Mueller and Comey have known about the child exploitation ring for years. Haitian children were processed though a compound in Florida owned by Jeb Bush.


F. Jan. 6 2018 7:56 am EST FBI Investigating Clinton Foundation: FBI Launches New Investigation Into the Clinton Foundation

The FBI was investigating the Uranium One deal, which granted the Kremlin control over 20 percent of America's uranium supply, as detailed by author Peter Schweitzer's book Clinton Cash and the New York Times in 2015.

The scheme allowed Russia to buy its way into the U.S. atomic energy business using the same Clinton Foundation pay-for-play relationship used by 16 countries, including Saudi Arabia – which received a 143% increase in weapons sales over the previous administration after donating to the foundation.

A brief timeline of the Uranium One deal:

Between 2008 – 2010, parties involved with Uranium One donated $145 Million to the Clinton Foundation. You can read more about the parties here.

June 2009, Russian State Nuclear Agency Rosatom (through a subsidiary) takes a 17% stake in Uranium One.

June 2010, Rosatom takes majority (51%) ownership of Uranium One, granting the Kremlin control over 20 percent of U.S. uranium – which Hillary Clinton's State Department signed off on. The FBI uncovers massive bribery scheme before the Committee on Foreign Investment in the United States (CFIUS) approves deal.

June 29th, 2010, Bill Clinton meets with Vladimir Putin at his home in Russia. Later that day Clinton earns $500,000 for a Moscow speech to Kremlin-linked investment bank Renaissance Capital, which assigned a "buy" rating to Uranium One stock.

January 2013, Rosatom State Nuclear Agency acquires the remainder of Uranium one and takes it private.

Also of interest in relation to the Uranium One deal was that weeks after the FBI probe into Hillary Clinton's email began, the FBI issued notices to every agency in the CFIUS to preserve records, as discovered by Twitter researcher Katica while looking at FOIA-requested documents. Read More ZeroHedge.com

G. June 6 2017 11:27 pm EST Trump Attack on Globalists: (Video) Trump Launches Massive Counterattack Against Globalists

KTFA: ZIMBABWE NEWS, 7 JAN

Samson:  Australian man arrested for stealing Z$1 trillion bill

7th January, 2018

A man has been arrested in Adelaide, Australia for allegedly stealing unique bank notes, including a one hundred trillion Zimbabwean dollar bill. The Harare administration was forced to abandon the Zimbabwe dollar in 2009 after it had been rendered virtually worthless by hyperinflation.

Monetary authorities at the time remarkably decided to tame the inflation beast by feeding it. The higher inflation spiked, the bigger the denomitations minted by the Reserve Bank of Zimbabwe (RBZ) under then governor Gideon Gono. By the time inflation peaked at an estimated 500 billion percent in 2008, the RBZ had responded with the one hundred trillion dollar bill — the single largest known note to be printed by any central bank .
....
​According to an Adelaide-based tabloid, The Advertiser, local police arrested a 32-year-old man and found him with an assortment of bank notes thought to have been stolen.

The bills included distinctive German Deutschmarks printed in 1920, $1 000 Korean Wons, 100 Baisa Oman notes, and a one hundred trillion Zimbabwean dollar note.

The suspect was expected to appear in court at a later date.

Investigators called on the public to help identify the owner of the bills but they would be required to provide proof of ownership.

Although no longer in use, the Zimbabwe dollar has become a curiosity for collectors bemused by the country’s hyperinflationary mayhem which was considered as the worst for any nation not at war by the International Monetary Fund (IMF).

The 100 trillion dollar Zimbabwean dollar note was this Thursday selling for between $5 and as much as $100 on eBay.

Since ditching the Zimdollar, the country has used multiple currencies, dominated by the United States dollar. A local surrogate currency, the bond notes, was introduced in November 2016.   LINK

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Samson:  Zimbabwe Authorities Increase Actions Against Corruption

5th January, 2018

Harare, Jan 5 (Prensa Latina) A parliamentarian and a former Minister of Zimbabwe were arrested in the last hours as the police found in their respective residences tons of sugar and corn flour, local press reported today.

According to reports, parliamentarian Masango Matambanadzo was arrested by police after a search in his house where about 30 tons of corn flour were found. The official is kept in custody before being presented to the courts. According to sources, the police is investigating how the deputy acquired that amount of cereal and although Assistant Commissioner Charity Charamba did not offer details, she confirmed that he is under arrest.

For his part, the former Minister of Sports, Art and Recreation and Deputy Makhosini Hlongwane was arrested the day before by the police on his farm outside the city of Zvishavane, where about 10 tons of sugar was seized, which he could not justify because he lacked the corresponding documents. He argued that it was 'a donation he could not divulge.'

Meanwhile, the Independent Zimbabwe newspaper stated today that the sons of former President Robert Mugabe, Bellarmine Chatunga and Robert Junior, his stepson Russen Goreraza and his son-in-law Simba Chikone could be arrested shortly on charges of illicit trade in gold, abuse of power, corruption and murder.    LINK
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Samson:  Zimbabwe : 50,000 more POS machines in 100 days

 5th January, 2018

Government is working on providing foreign currency for the acquisition of 50 000 new point of sale machines in the next 100 days as part of broadening the use of plastic money. President Emmerson Mnangagwa has set 100-day deliverables for line ministries, as he seeks to inculcate a new work ethic aimed at turning around the economy.

Currently, over 75 percent of retail transactions are being conducted electronically as the nation seeks to circumvent the absence of physical cash in the economy. Deputy Minister for Finance and Economic Planning Terrence Mukupe, has indicated that they intend to increase the number of point of sale machines to about 100 000 to enable wider use of plastic money.

“On the issue of financial inclusion, there is an issue that as Government we have said we should increase the use of plastic money. But if you go to the banks right now, you can’t access swipe machines; there is a huge backlog. I can tell you that as part of our 100-day plan, we are going to have an extra 50 000 machines. What that means is that we will have to provide foreign currency so that there is more machines to enable people to swipe from any part of the country,” said Deputy Minister Mukupe.

In the 2018 National Budget statement, Finance Minister Patrick Chinamasa, said the use of plastic and electronic money has generally been successful. POS machines are owned by banks and their prices range from US$100 to US$300. There has been an 189 percent increase in the number of POS machines deployed across the country from 16 363 in 2015 to 47 362 by end of July 2017.

Similarly, there has been a corresponding jump in POS transactions from 398 986 in 2009 to 181 251 082 in the last quarter of 2017. The sharpest rise in POS transactions was witnessed from 2016 when they rose from 53 407 464 to 181 251 082 by about September last year.

But beyond increasing availability of POS machines, Government also wants plastic and electronic transaction costs to come down markedly. Customers still complain that it remains expensive to transact on plastic and electronic money platforms despite efforts by the Reserve Bank of Zimbabwe to have charges reduced.

The RBZ has asked retailers to charge 10c for transactions of between US$1 and US$10. However, there is a feeling by consumers that the cost skyrockets when one purchases smaller items such as bread and milk more than once per day. Deputy Minister Mukupe said Government is alive to the need to reduce transaction costs and is considering coming up with incentives to firms that slash such costs.

“We have to make sure that the cost of transacting comes down. We will come up with incentives around that. The other thing that I want to point out to you is that Minister Chinamasa, in his budget, has said he does not want to come up with punitive measures, but incentive measures (for companies that play ball),” he said.

Mobile money transaction costs have recently been pushed up by corrupt dealers who sell cash at 20 percent. EcoCash, which controls over 90 percent of mobile money transactions, has challenged customers to report unscrupulous dealers so that corrective action is taken.
Even wholesalers and retailers are putting a premium of up to 30 percent when consumers are purchasing using electronic forms of payment, with products being considerably cheaper when using physical cash.

Despite several warnings from both the Ministry of Industry and RBZ to abandon multi-tier pricing, sellers remain defiant.

Traders mark high prices for goods when consumers are making electronic payments to encourage them to use cash, which will in turn be used for arbitrage. Government’s financial inclusion initiatives also target broadening access and provision of vulnerable groups with financial services, critical for sustainable economic growth and development.

The vulnerable groups include youths, women and micro, small and medium enterprises. This has seen the RBZ licence the Zimbabwe Women’s Micro-Finance Bank Limited on September 14 last year, and has also initiated licensing of the Youth Empower Bank Limited.   LINK
Samson:  Scrap bond notes, they are fueling black market: Government told

 6th January, 2018

Government must decommission bond notes because they are fueling a thriving black market, a senior MDC official has said.

MDC secretary for Economic Affairs Tapiwa Mashakada said the solution lies in coming up with strategies to destroy the black market.

He said the problem of pricing does not even require the Competition and Tariff Commission and called for a three-pronged solution including “killing the parallel market by immediately decommissioning the bond note because it is fueling a black market-driven pricing model”.
The CTC on Thursday threatened to come down hard on businesses engaging in excessive pricing of goods.

In a statement the CTC said excessive pricing and fixing were bad business practices that distort the smooth functioning of the economy.

“In this respect, the commission will not hesitate to embark on investigations in sectors identified as colluding or price fixing or excessively pricing with a view to remedy such anti-competitive practices within the confines of the act,” said CTC in a statement.

“All producers, wholesalers and retailers are therefore expected to comply with the Competition Act with immediate effect or else face the wrath of the law.” It added.

The Competition Act gives CTC the necessary teeth to enforce its orders and decisions. It provides that for enforcement purposes, the commission’s orders can be registered with, and recorded as a civil judgment of the High Court.

Government has had trouble borrowing money from abroad as prospective lenders have had doubts over Zimbabwe’s ability to repay. This explains the rapid loss of value of the bond notes in September and October: government simply printed notes that were not backed by hard currency, and traders started charging premiums to shoppers using the notes.

The International Monetary Fund has dispatched a staff mission to Zimbabwe that has met with officials of the new government and assessed the country’s fiscal and economic situation.

According to IMF spokesperson Gerry Rice, the regular staff visit to Harare in early December updated the Bretton Woods institution’s assessment of Zimbabwe’s fiscal position, foreign exchange developments and inquired about the new administration’s economic plans.

In late November, some automatic teller machines were again issuing US dollars — a clear indication that President Emmerson Mnangagwa’s transition team has been able to borrow something.

Introduced by Mugabe’s government in November 2016 as part of a desperate bid to stave off a cash flow crisis, the green notes are supposed to be traded 1 – 1 with the US dollar but are trading at anything up 1-1,3. Zimbabwe abandoned its own currency in 2008 and officially adopted the American currency as its own. But continued economic uncertainty led people to stash dollars outside the country, prompting a critical shortage.

Mnangagwa has proclaimed an amnesty for people to return money stashed abroad to the country.

Mashakada also said the ministry of Industry must gazette prices of all basic commodities as at July 2016 because most of the price increases are not consistent with the cost structure.

The former Economic Planning minister said as a third measure “government should temporarily introduce a rebate and zero rate on all essential food imports in order to flood the market, introduce competition and prevent speculative shortages”.

“Please note that no any other intervention other than those prescribed above will stop the high prices charged by retailers and wholesalers.

“Economic saboteurs must be brought to book as they have taken advantage of arbitrage created by the parallel market exchange rate,” he added.

Mashakada concurred with government that retailers and wholesalers are making super profits by charging exorbitant prices on basic consumer goods and services.

“For example, how do you justify a kg of beef costing $8 up from $4? I’ve just cited one product out of many product lines,” he said.   LINK