The North PacificBoard

New Chilokver wrote:

The OSEAN Prime Minister's Office has today given authorisation of an economic bailout of the nation of Toshavo iii, which is currently suffering from severe recession and looming economic collapse. While not an OSEAN member, special exception has been given in this case for the large sums soon to be transacted given Toshavo's exceptional situation. The nation which founded OSEAN's ancestral alliance, the Osean League, and which was responsible for many policies retained by OSEAN e.g. a standardised alliance currency (the OSU) will be bailed out by a comprehensive economic plan intended to reduce unemployment and revitalise the Toshavoan economy. Companies within essential industries such as agriculture, mining and infrastructure which have seen the greatest losses and declined the most in value will be sequentially bought out and refounded using their pre-existing assets, allowing them to once again efficiently produce and provide for Toshavo and thus staving off economic collapse. The move would also see large numbers of Toshavoan workers hired at the minimum wage, on multi-year contracts, thus rapidly reducing unemployment as well as capping it long term. With the domestic economy stabilised, the plan further calls for investment into Toshovoan corporations to not only reduce but reverse the nation's economic downturn- it is intended that golden shares in the largest companies, in terms of assets rather than profits, and thus most important to the economy will be purchased by OSEAN to help fund them through this period until such time that they are once again successful. Smaller companies could also see shares being majority purchased as well, though such investment would depend entirely on OSEAN's own excess funds being deemed sufficient for such risk. Bailout is to begin almost immediately using existing reserves, with future capital to be sourced from the flow now being recovered from Guyomartand's debt.