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Dinar Chronicles is now allowing viewers to guest post. If you wish to speak your mind and write a post/article about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

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The subject of your email entry should be: "Entry Post | (Title of your post) | Dinar Chronicles"

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Sunday, October 23, 2016

"Cha Ching" - Sun. PM KTFA News/Thoughts

KTFA

Samson
 » October 23rd, 2016


Statement by the IMF on Zimbabwe

October 21, 2016

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF) made the following statement on Zimbabwe:

“On October 20, 2016, Zimbabwe settled its overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT) of the IMF. Zimbabwe had been in continuous arrears since 2001.

To settle these obligations, which amounted to SDR 78.3 million (about US$107.9 million), Zimbabwe transferred part of its SDR holdings kept at the IMF to the PRGT account. Zimbabwe is now current on all its financial obligations to the IMF.”

http://www.imf.org/en/News/Articles/2016/10/21/PR16463-Zimbabwe-Statement-by-the-IMF

Ricklibby
 » October 23rd, 2016

CHA CHING

Jay » October 23rd, 2016

Hi Rick. I was wondering about this too. The rate comes out to be 1.37. But it doesnt say which currency they used to pay this debt.

And no. I did NOT click the link and read it. So i do not know if it states what currency they used.

Very interesting none the less. But imo the zim is still 1 to 2 years away if at all from being an exchangeable currency.

The smart thing is for ALL the currencies to go at the same time to eliminate double dipping.

BUUUUUT....ALL THE PTB HAVE TO DO IS MAKE US SIGN A DOCUMENT AT OUR EXCHANGES THAT WE AGREE NOT TO PURCHASE CURRENCIES WITH OUR EXCHANGED MONIES. PUNISHABLE BY THE LAWS THAT COVER SUCH AN ACTION.

THUS MAKING THE ZIM NOT EXCHANGEABLE FOR 1 OR 2 YEARS AS I STATED ABOVE. BECAUSE THEY ARE JUST NO WHERE NEAR READY IMO...

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