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Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or 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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Featured Post

Restored Republic via a GCR: Update as of April 10, 2021

Restored Republic via a GCR: Update as of Sat. 10 April 2021 Compiled Sat. 10 April 2021 12:01 am EDT by Judy Byington, MSW, LCSW, Therap...

Wednesday, April 7, 2021

Wed. PM TNT News Articles 4-7-21



TNT

Tishwash:
The President of the Republic approves the 2021 budget and returns it to the government to work on it from tomorrow

An informed political source said on Wednesday that the presidency has ratified the budget law and returned it to the government to work on it.

The source told Shafq News, that President Barham Saleh, today approved the federal budget for 2021, and was sent to the Ministry of Finance to start work on it from Thursday.

On Tuesday, Deputy Speaker of the House of Representatives Bashir Haddad announced that the Council had referred the Federal Budget Act of 2021 to the Presidency for approval.

According to a document signed by Deputy Secretary-General of the House of Representatives Sadiq Juma Hamid, addressed to the Office of the Presidency of the Republic, obtained by Shafq News, that "based on article 73, Section III, of the Constitution, we send you (Federal Budget Act 2021)." link

UPDATE 1-Indonesian rupiah is 'too cheap', headed higher on growth outlook - c.bank official

JAKARTA, April 6 (Reuters) - Indonesia’s rupiah currency is “too cheap” against the U.S. dollar and should strengthen on brightening prospects of the country’s economic recovery, a senior Indonesian central bank official said on Tuesday.

The rupiah, down about 3% versus the dollar in 2021 and at around 14,500 currently, was not reflective of its fundamentals and its weakness was attributable to a spillover effect of U.S. fiscal policies, Bank Indonesia’s deputy governor Dody Budi Waluyo told an online economic forum.

“It is our duty at BI to try stabilising the rupiah and steer it toward its fundamental value,” he said.

BI is projecting 4.3% to 5.3% growth in gross domestic product this year after the Southeast Asia’s biggest economy contracted 2.07% last year.

The central bank has vowed to keep its policy loose to support the economy. BI has cut interest rates by a cumulative 150 basis points and pumped more than $50 billion into the financial system to support the pandemic-hit economy.

Dody said while BI keeps it policies loose to support growth, the central bank will prevent any sharp movements in inflation and the rupiah exchange rate.

An expansive fiscal policy in the United States triggered a rise in its treasury yields and outflows from emerging markets such as Indonesia, he said.

BI will continue to monitor domestic economic conditions before it starts any tightening of loose liquidity measures and key interest rates, Dody said, adding that it will avoid any abrupt moves.

“We don’t want a premature exit before the economy is growing, which could cause a reversal,” he said, reiterating that BI will take its cue from the country’s inflation rate to decide on the timing of its policy normalisation.

(Reporting by Tabita Diela; Writing by Fransiska Nangoy; Editing by Martin Petty and Muralikumar Anantharaman) link

Source: Dinar Recaps
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Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More