Join the new world

Dear eUNL citizens and other interested,

Herewith the eUNL Financial Report from November 17, 16h00 to November 24, 14h30 eRep time. This will be the last Financial Report for the November mandate.

In short, there has been a lot of volatility in the rates on the monetary market and GOLD has been moved from DNB to Ministerie van Economische Zak in exchange for NLG (partly to counter this volatility).

Please note that all information given, with the possible exception of explanations, is public and can be viewed by all eRepublik users.

Balances of State Account, DNB and Ministerie van Economische Zak
See “Appendix” at the bottom of message.

Justification of movements made/received by the Ministry of Finance
November 19: 20,000 NLG donated to State Companies 2, from the Ministerie van Economische Zak. (Reason: Supply State Companies with NLG for wages.)
November 19: 12,500 NLG moved from Ministerie van Economische Zak to DNB; and 200 GOLD moved from DNB to Ministerie van EZ. (Reason: see “News: Financial laws & proposals” for more information.)
November 22: 10 G moved from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Ministry of Raws was low on gold, which they need to keep State Companies supplied with raws.)

Justification of other actions performed by Ministry of Finance
The Ministry put large efforts in the Monetary Market. This included not only stabilizing it as much as possible (see “News: Monetary Market”), but also discussing the causes and solutions. One example can be found here, with some great remarks of committed citizens like Luuklag and Cocoamok: [url] http://www.enetherlands.nl/viewtopic.php?f=101&t=3433[/url]. Make sure you also join these discussion by signing up for the forum, if you haven't done that yet. You can check here how to join the forum and/or chat.

News: Financial laws & proposals
October 19 [Accepted – forum vote] It was debated and voted to move 200 GOLD from DNB to Ministerie van Economische Zak in exchange for 12,500 NLG. This would lead to the same balance on the DNB, but more GOLD for the Ministry to stabilize the market, let the Ministry of Raws buy raws, and provide Defense with gold when really needed. A total of 10 congressmembers voted yes, one abstained, after which the action was carried out by the Minister of Finances.

News: Monetary Market
The Monetary Market is still unstable. This morning, I noticed a stunning rate of 1 G = 79.8 NLG. Helped by several citizens and the Ministry of Finances, this has declined to 1 G = 72 NLG, a rate that is almost acceptable for the time being. In time, I will still strive for a rate of 1 G = 66.67 NLG, but currently, this is a long term goal. For now, a rate around the 70 NLG, or at least below 71.42 NLG is worth aiming for. A call to all citizens: if you have GOLD left, which you are willing to sell, please do so now. Besides that the rate is quite high, you will help your country to achieve a stable monetary market once again! Currently, there is about 27,000 NLG on the market for a rate of 1 G = 0.015 G. Although this is below the government’s target, the positive side is that our exports will flourish a bit more, as our goods are cheaper in other countries.

If you have any questions or comments, feel free to comment on this article or on the forum: http://www.enetherlands.nl/viewforum.php?f=101

Kind regards,

Your Minister of Finance,
Boklevski


APPENDIX: Balances of State Account, DNB and Ministerie van Economische Zak
(the balance of last report and the difference are displayed in brackets)

State Account

Gol😛
2.93 G (2.33 G; +0.6 G)

Local currencies:
18,540.67 NLG (10,405.15 NLG; +8,135.52 NLG)
0.98 BEF (0.98 BEF; no change)

Foreign currencies (excluded when less than 100)
119.27 RUB (previously undisclosed (< 100 RU😎 )

Value of offers on goldmarket:
none

DNB

Gol😛
544.45 G (744.45 G; -200 G)

Local currencies:
33,409.55 NLG (20,909.55 NLG; +12,500 NLG)
34,462.47 BEF (34,462.47 BEF; no change)

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

Ministerie van Economische Zak

Gol😛
79.55 G (39.55 G; +40 G)

Local currencies:
61,157.30 NLG (73,964.92 NLG; -12,807.62 NLG)
0.00 BEF (0 BEF; no change)

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
0 NLG (12,742.38 NLG; -12,742.38 NLG)
50 G (on offer at 1 G = 73.3 NLG😉 (0 G; +50 G)

* rates currently fluctuating several times a day to stabilize the market as efficiently as possible.