Rezim Posted February 15, 2023 Share Posted February 15, 2023 (edited) From the heart of the Obtrexta Sector, the Galactic Economist provides news on current affairs, economics, technology, and culture. Disclaimer: All articles are considered factual unless otherwise stated as subjective opinion pieces. The articles are property of the Intergalactic Banking Clan but do not always reflect the opinion of the IGBC or its membership. Edited February 15, 2023 by Rezim Link to comment Share on other sites More sharing options...
Rezim Posted February 15, 2023 Author Share Posted February 15, 2023 Hill: InterGalactic Banking Clan to Announce Benchmark Rate in Coming Months Harnaidan, Muunilinst System In an announcement that was held rather late in the day, San Hill, the Vice-Chairman of the IGBC, announced a major change that could cause a monumental shift in how the economies of the galaxy structure their debts, bonds, and handle inflationary factors across the Galactic Republic. In place of Chairman Pors Tonith for today's announcement, Hill stated that the IGBC will be establishing what is to be called a "benchmark" rate for lending within the Galaxy, specifically leaving the language open for non-Republic sectors to potentially benefit form this announcement. As the primary institution responsible for the flow and standing of the Galactic Standard Credit, the IGBC establishing a benchmark rate will affix external and public debts to a set rate, which Hill has promised will be a reasonable rate for the benchmark. Analysts from the IGBC that are unaware of the decision making are predicting it to be starting as low as 4.5% for sectors belonging to the Galactic Republic. "Sector, planetary, and other kinds of debts will be benchmarked to this rate. As guarantor of the Galactic Standard Credit and the Republic's general finances, it serves the interests of all for a reasonable rate to be maintained." Said Vice Chairman San Hill of the IGBC. Future announcements are expected from the IGBC regarding the benchmark rate, and regular meetings to review it. With no schedule yet released, it is expected that there will be at least quarterly revisiting of this benchmark for debts. Hill has stated that the planned benchmark will be announced shortly, in line with what he has stated as alternative lending options for planets, sectors, and guilds accordingly. Link to comment Share on other sites More sharing options...
Rezim Posted February 18, 2023 Author Share Posted February 18, 2023 InterGalactic Banking Clan Analysts Warn Against Paying External Debts Harnaidan, Muunilinst System Chairman Pors Tonith spoke today following the announcement of Kuat's decision to pay off its external debts before the end of this calendar year, warning that if more systems follow suit, it could cause an inverse impact on the economies of the galaxy. "Yes, there is an attraction to paying off external debt, especially when it is a smaller amount of your total gross sector product like in the case of Kuat, but that large of an influx of credits can cause damage to the rest of the sectors in the galaxy. Not everyone has the capital like the Core Worlds." Said Chairman Tonith on the issue. IGBC analysts have been watching the developments and believe that bonds issued by the Kuat Sector and corporations operating in Kuat could see a drop in their yield, as well as the impact of its rating as a safe sector for business and investment. So far, only Alderaan has followed a similar line to Kuat by paying off its external debts, which some economists fear will cause a run on an already fragile economic period for the Galactic Republic. Link to comment Share on other sites More sharing options...
Rezim Posted March 2, 2023 Author Share Posted March 2, 2023 Assassinations in Coruscant! Is the Political Divide Turning Violent? Harnaidan, Muunilinst System In a matter of months, the situation in Coruscant has gone from bad to worse, as the halls of the Senate are now stained with the deaths of two Senators in as many standard hours. The debate has raged for several months on the matters of taxes and the power of veto, which has created a divide between the Outer-Rim and the Core Sectors. The debate, however, came to an abrupt halt after the murders of two Senators from the Outer-Rim - one an outspoken reformer, some say radical idealist, and the other considered a quiet and contemplative politician. The Senate has been a buzz following the assassinations, as the successor to Sahsinchei'D'vaallir, has outright accused the Jedi Order of the plot. Senator Selkath Vos has spoken for a more measured response to the assassinations, calling for a third-party to investigate the matter, requesting that the Jedi Order recuse themselves from the investigation following the accusations from the new Duluur Sector Senator. What has caused further fire within the Senate, was the new Duluur Sector's Senators insistence on pushing the agenda of the late Senator Sahsinchei'D'vaallir. Defenders say that the late Senator would want the topics she brought to the Senate to continue if she was gone, while detractors have been publicly calling it a disgusting political act to use her death as a rallying cry for the matters she wished to bring to the attention of the Senate. We will continue to monitor and report on the investigations and matters in Coruscant as they develop. Other Headlines: Kuat Driveyards Shuts Down Exports; Could it Damage the Kuati Economy? Review: Jedi Order Plus an Early Cash Cow Formula Pod: Hego Damask Announces Inaugural Formula Pod Race in Canto Bight 1 Link to comment Share on other sites More sharing options...
Rezim Posted March 24, 2023 Author Share Posted March 24, 2023 Vos: Republic Budget to Incorporate Contingencies for War Coruscant, Coruscant System Republic Senator and Senate Treasurer Selkath Vos spoke to the media in Coruscant early this morning, stating that the budget for the Senate will be on the floor this week. He's stated that some delay has come due to the recent events that have followed the death of several Jedi on a mission to the Nal Hutta System that many believe has put the Republic on a war-footing in preparation for a potential Hutt invasion. Vos expressed frustration with processes, primarily following the passage of legislation that saw a drastic cut in future budgets. "Too many senators were acting in self-interest and not interest of the Republic, and now the Treasury is in a position that has made creating future budgets increasingly difficult." Recent conversations within the Senate have publicized the calls for a Grand Republican Army and Fleet, something Treasurer Vos believes may lead to a major constraint on the budget. Many analysts agree with this analysis, as well, believing the budget may not have enough funds to be appropriated for a military force within the Republic. Treasurer Vos will be bringing the budget to the floor later this week after much deliberation on how to structure the budget and the proposals required for it. Link to comment Share on other sites More sharing options...
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