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United States and China are seeking debt relief measures

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News Date: February 23, 2024

The United States and China are in frequent discussions to prevent emerging market sovereign defaults.
Talks include preemptive measures such as extending loan periods to ease the annual debt service burden of over US$400 billion for poor countries.
Ideas also involve increased financing from the World Bank and others to address high borrowing rates.
The aim is to implement these measures before countries default and enter formal restructuring talks with creditors.
The Treasury Department: "we talk frequently with China about sovereign debt concerns.
And we talk to many countries about how to make sure the international financial architecture is meeting low-income country financing needs".

Iraq rose in the top of gold reserves

Iraq achieves a major global leap in gold reserves.
Iraq rose 10 ranks among the countries with the most gold in the world, according to the latest report of the World Gold Council, issued today, Sunday.
Iraq has become the fourth largest Arab gold reserve after it was the sixth, surpassing Egypt and Libya, which ranked fifth and sixth, respectively.
Sources: search4dinar

New financial order supported by South Africa

South Africa's president has endorsed China's proposal for a new global financial order.
Ramaphosa acknowledged that there had been huge developments in the geopolitical scene in response to a News24 inquiry on Saturday regarding China's desire for a new financial order.

Zimbabwe introduces a new gold-backed digital currency

Zimbabwe has unveiled a groundbreaking digital currency called 'Zimbabwe Gold' (ZiG), backed by gold in milligrams.
This move is part of the country's de-dollarization strategy and efforts to combat inflation.
The Reserve Bank of Zimbabwe (RBZ) is offering ZiG for both individuals and corporations, providing a stable and versatile means of transacting.
By linking the digital currency to gold, Zimbabwe aims to restore confidence in its monetary system and attract investment, potentially setting an example for other nations facing similar economic challenges.
ZiG represents a significant step towards financial stability and innovation in Zimbabwe.

Gold has the historic value

Russia holds world's fifth-largest gold & foreign currency reserves.
Russia has reached a historic record in international reserves, ranking fifth in the world after China, Japan, Switzerland, and India, the Accounts Chamber said after an audit of the country's gold and foreign exchange holdings.
Gold proves its intrinsic value over time, as a hoard of Roman gold coins recovered from the seabed.
The horde was identified after two amateur free divers discovered coins in the bay of Portitxol in Xabia.
Sources: www.heritagedaily.com

Golden Christmas to You!

May the good times and treasures of the present become the golden memories of tomorrow. Wish you lots of love, joy, and happiness.
May you have the spirit of Christmas which is Peace, the gladness of Christmas which is Hope, and the Heart of Christmas which is Love.
Wish you a Merry Christmas and may this festival bring abundant joy and happiness in your life!
Best regards,: gesara.news

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