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Wednesday, March 13, 2019

TNT & KTFA: NEWS DISCUSSION, 13 MARCH

TNT:

Harambe:  Bloomberg: Zimbabwe Eases Grip on New Currency in Bid to End Dollar Squeeze  (3/13/19) 

For investors who doubted Zimbabwe would let market forces determine the price of its new currency, there’s some evidence it’s doing just that.

The southern African nation’s central bank has allowed the currency, known as RTGS, to slide to 2.6481 per dollar this week, taking its depreciation since trading started on Feb. 22 to 5.6 percent. That marks a change from the previous fortnight, when it was stuck at almost exactly 2.5. 
 
There’s still a wide gap with the black-market rate of 3.55, according to marketwatch.co.zw, a website run by financial analysts in Harare, the capital. But it’s closing thanks to the latest bout of depreciation. 

Investors won’t be satisfied the country’s dire shortage of foreign exchange -- which has destroyed the economy and led to shortages of bread and fuel -- is over until the two rates converge. 

RTGS, which stands for real-time gross settlement, was the result of the central bank’s decision years ago to print an electronic version of real dollars to fund rampant government spending. Hyperinflation forced the nation to abandon its original currency in 2009.

For long, the government and central bank insisted that RTGS had the same value as greenbacks, even as it plummeted in the black market. Officials relented last month by opening a formal interbank market for RTGS.

https://www.bloomberg.com/news/articles/2019-03-13/zimbabwe-eases-grip-on-new-currency-in-bid-to-end-dollar-squeeze

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KTFA:

EdwardK:  Chalabi: Iraq is floating on large quantities of oil

March 12, 2019

AMMAN, March 12 (Xinhuanet) - Former Iraqi oil minister and international expert Issam al-Chalabi said that Iraq is floating on large amounts of crude oil, which is estimated to be more than 300 billion barrels of oil.

Chalabi said during a dialogue to introduce his book, which was recently titled 50 years in the world of oil, said that the countries of the world are aware of Iraq's wealth in oil and that the major historical agreements were taken into account when entering traffic in Iraq or to approach them

https://tinyurl.com/y4md8ed7

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Don961:  Abdul-Mahdi: the world to return the favor to the Iraqis

Wednesday, March 13, 2019

Baghdad / Mohammed Al-Ansari
 
Called on Prime Minister Adel Abdul Mahdi, the international community and the countries of the world to give back to the Iraqis, who have made great sacrifices in the war against Aldaasha terrorism and stop its expansion and pay iniquities on behalf of the world, as he emphasized that Iraq is a country of convergence and reconciliation is not a land of conflict,conflict and infighting, he explained that the visit of Iranian President Hassan Rowhani, the current Iraq gave a positive and good results for both countries in various fields, especially in relation to the issue of the demarcation of the border, as Abdul-Mahdi stressed the determination to resolve the proxy file management positions in the near future and away from the pressures Political issues.

This comes at a time when the Council of Ministers in its meeting held on Tuesday, several important decisions, notably on the mechanisms of distribution of land full service to citizens, as well as decisions to support the private sector contractors and meet the demands of teachers, and a decision on the installation of the rest of the contract employees of the Ministry of Electricity, Al Zawraa Sports in its participation in the AFC Champions League.

"Iranian President Hassan Rowhani's visit to Iraq has yielded good results and has been discussed in a number of areas," Abdul Mahdi said at his weekly press conference on Tuesday. "We have benefited from the cancellation of visa fees between us and Iran , Which benefits the citizens of the two countries of this decision ».

As for the stability of liberated cities, Abdul Mahdi said that "the government pays great attention to the care, rehabilitation and reconstruction of the devastated areas, especially in Nineveh." He explained that he discussed reconstruction with the US Secretary of State. "Iraq does not want charities and grants, We have provided great service to the world, we have provided our blood and millions of victims.

What we want is not a gift or a gift or a gift from anyone, but the world must respond to the beautiful Iraqis in terms of security and stability and stop the movement to other countries so that Iraq can rebuild its regions and cities.    link

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