Goldilocks and Seeds of Wisdom
Goldilocks posted some comments and links on global financial news:
“Vietnam’s economic growth is projected to recover in the second half of 2023, reaching around 4.7 percent for the year, supported by a rebound in exports and expansionary domestic policies. Inflation is expected to remain contained below the SBV’s 4.5 percent ceiling. Over the medium term, Vietnam can return to high growth rates as structural reforms are implemented.”
This is part of a report the IMF gave on Vietnam at the end of their Article 4 evaluation. It was recommended that Vietnam take the lead now and guide their country through fiscal policy.
Fiscal policy is the use of government revenue collection and expenditure to influence a country’s economy.
Government revenue collection is the following: individual and corporate income tax deposits, customs duties, fees for government service, fines, and loan repayments.
Through the implementation of these reforms, Vietnam’s government will be able to sustain their government and influence growth going forward.
For these reasons, Vietnam has been released of Article 4 from the IMF. “IMF Staff Completes 2023 Article IV Mission to Vietnam.”
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Along with Vietnam’s adherence to SOFR lending rates and Basel 3 compliance, Vietnam has over 20 million tons of rare earth minerals valuing at 3 trillion dollars to put them well on their way to economic growth and the revaluation of all of their assets.
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“Article IV outlines states’ powers in relation to each other. States have the authority to create and enforce their own laws but must respect and help enforce the laws of other states. Congress may pass Federal laws regarding how states honor other states’ laws and records.”
The IMF reported that Indonesia has shown progression since 2022 through their forward-looking reforms to help sustain their economic challenges moving forward.
In other words, Indonesia has become a self-sustaining government capable of moving forward with their own monetary policies.
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There are several minerals found and produced in Indonesia such as tin, bauxite, nickel, gold, and copper. Many of these minerals are used in creating electronic vehicles.
These minerals are found in such abundance that the backing of their economy places them on the road to Basel 3 compliance and implementation.
“IMF Executive Board Concludes 2023 Article IV Consultation with Indonesia”
http://www.imf.org/external/np/sec/misc/qualifiers.htm
https://www.statista.com/topics/4690/natural-resources-in-indonesia/#topicOverview
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The Commodities Futures Trading Commission (CFTC) issued a no-action letter for moving forward with the Libor reference rates shifting to SOFR lending rates on June 30th.
This no action letter means permission has been granted for today’s transition into a new collateralized economy.
USD LIBOR ICE Swap Rates and Moscow Prime Offered Rates were given a nod to proceed.
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After today and tomorrow, these new reference rates will begin transitioning our new economy from the old one. The process of moving into real values in our new digital economy has been given the green light.
https://www.cftc.gov/PressRoom/PressReleases/8737-23
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Just in case you are wondering. “IMF Staff Completes 2020 Article IV Mission with Iraq.”
Since that time, Iraq had currency reforms to implement and a budget to complete.
They have been reviewed regularly due to ongoing issues with our global economy during C---d-19 to keep them updated with Article 4 conducted by the IMF.
Here is what was said to Iraq on May 31st, 2023 in their closing comments to them from the IMF. “…the mission urges full implementation of the framework for managing government guarantees,”
In other words, the government is capable of moving forward with guarantees backed by their financial reforms that comply with Basel 3 and QFS mechanisms.
https://www.imf.org/en/Countries/IRQ
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https://www.imf.org/en/News/Articles/2023/05/31/pr23188-iraq-imf-staff-concludes-staff-visit
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Iraq, Indonesia, and Vietnam have completed Article 4 with the IMF and are capable of moving forward with their currency reforms.
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We will see some movement in July with our currencies, but August will begin showing us huge changes in leveling off our currencies around the world.
Source: Dinar Recaps
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