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Bill: Economic Liberalization Act

Details

Submitted by[?]: Green Liberal Party of Kalistan

Status[?]: defeated

Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.

Voting deadline: April 4951

Description[?]:

The Green Liberal Party seeks to allow the Kalistani ruble's exchange rate to freely float on the market, with the Republican Bank instead controlling monetary policy via open market operations that grant banks liquidity through repurchasing agreements involving the exchange of government securities for currency. Such a policy allows for the currency and for the economy to more readily adapt to economic shocks as investors can rapidly fluctuate their demand for the currency based on the country's economic prospects.

In addition, this Bill seeks to promote investment and spending in order to stimulate Kalistan's stagnant economy via two measures: eliminating restrictions on foreign investment and allowing for banks to only hold a fraction of their liabilities in reserve.

This Bill shall allow foreign investors to control a majority of the shares of Kalistani corporations if bought, thereby encouraging foreign investment in Kalistan's economy that can generate employment and therefore economic growth via increased aggregate demand.

In addition, the Republican Bank shall be tasked with setting a fractional reserve requirement for banks in Kalistan, being able to fluctuate the requirements up or down in order to control interest rates and the amount of liquidity in Kalistan's economy. Moving away from a full reserve requirement to a fractional reserve requirement shall allow for increased lending in Kalistan's economy, therefore contributing to economic growth and increased private-sector employment.

Proposals

Debate

These messages have been posted to debate on this bill:

Date23:22:12, June 11, 2021 CET
FromCoalition of Workers
ToDebating the Economic Liberalization Act
MessageWe cannot support article 2

Date02:10:59, June 12, 2021 CET
FromSocialist Party of Kalistan (SPoK)
ToDebating the Economic Liberalization Act
MessageThis bill is pure economic liberalism. We will oppose.

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Voting

Vote Seats
yes
 

Total Seats: 0

no
  

Total Seats: 250

abstain

    Total Seats: 0


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