Nadiya

[Svetlana]

Formation of the CERD as the NCB shuts down black market exchange offices while intrest rates are hicked up, the NRB officially left to float on the market's wishes: fixing a broken machine

Petrograd, Kozaki. Today the central bank through its governor have officially began the biggest witchhunt in the history of Nadiys that being the war against black market currency exchanges. The issue has an open secret for years as most Nadiyans used them to exchange the NRB for foreing currencies according to unofficial rates that usually had the NRB at an even worse position than official reports, as such the central bank tried back against those practices to no avail until recently. Evelina Maximovna held a press conference in which she stated that black market transaction will be integrated into the official banking system alongside the suspicion of licences for any financial institution partaking or accepting the practices within their establishment, during the conference reports came that an organized crackdown was orchestrated by the NCB and the police. Thousands were arrested and millions of NRB alongside millions in foreing currencies were seized and directly funneled to the bank's reserves, the move shook the entire confederation as some see it as illegal and an overreach of the central government against the institutions of the Confederal republics yet those protests were silenced as the supreme court in the case of Kaiserberg Credit Union V. Central Bank of Nadiya, they ruled the constitutionality and legality of the measures done by Evelina and they even allowed the bank to continue and ramp up the policies as long as "it is within the mission to stabilize the Nadiyan financial system and its institutions". Shortly after the rulling, Evelina held another press conference in which she declared that the bank will hike up interest rates to 5% and that the ruble will officially be decoupled from any state intervention in favor of market driven value as a temporary measure to stabilize its prices, the announcement was a bombshell for the financial sector as it is the first time in nearly 300 years that Nadiya left its currency to the whim of the market, the stock markets started soaring immediately and investors wanted to eagerly buy the debt checks from the bank as the value of the NRB started finally increasing. And in order to help in the bank's ambitious reforms, Evelina announced the formation of the Commission for Economic Reformation and Development, the new agency will allow for a decentralized implementation of the reforms and new policies according to the local and regional conditions of each Republic alongside transmitting reports of local developments to the central bank which allow them to make the necessary changes in the institution.

[Svetlana]

The dismantling of the megacorporations begins as Evelina targets the oligarchs and bank leaders, the CERD begins purging bank officials responsible in under-the-table deals: cutting off the hydra's heads

Petrograd, Kozaki. Nadiya has recently became the battle ground for one of the worlds biggest financial war between the central bank and the opposing financial institutions of Nadiya, now the war has taken a new level as the bank has announced it will begin dismantling the megacorporations currently governing the Nadiyan economy, this comes after the defunct oil and gas company Neftkomp got sold to the Lodamun based North Seleyan Petroleum corporation with the blessings of the bank. This sudden escalation of the financial war comes after an economic report ordered by the NCB revealed that more than 73,8% of the Nadiyan economy is under the control of the megacorporations with the tech industry being the most saturated with 94% of it being under the control of either Golden Rose Corporation or New Hope's Initiative, pharmaceutical and agriculture is second with the Radin Pharmaceuticals Umbrella Corporation and Eclipse Incorporated which both have this sector at a chokehold. This dominance of the megacorporations led to the stagnation of the Nadiyan economy as their influences was left unchecked during the 80 years of conflict that was the Trigunian Disaster, so it was a matter of time for the oligarchs to be put in the target list as the NGA passed the Economic Straightening Act that granted even more powers to the NCB and its subordinate agency the CERD. Shortly after the law was passed, the CERD announced that it will begin probes agaisnt every person suspected of taking part in under-the-table deals between the 240 financial institutions present in Nadiya alongside the NCB declaring that it will suspend the licences of any institution that withholds proofs or tries to handicap the investigations of CERD. In addition, Evelina announced that it will begin efforts to dismantle the megacorporations to "make them decently sized companies that won't saturate the market or dominate it" this tactic will mainly involve the bank directly attacking the assets of the megacorps and filling judicial attacks through the supreme court to order the dismantling and merger of the companies on a case by case basis.

[Elena1012]

Adjusting to Pension Cuts; Alongside this, investments into Aquaculture and Fisheries.
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June 9th, 5656
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As pensioners across the Confederation adjust to Pension Cuts, and protest the move, Vrosnok finds itself in a tough spot. Funds are limited, but it is the duty of the government to care for all. So, the Kupala Administration faces a challenge. Accept the cuts and focus on helping the confederation gain economic growth, or sacrifice potential Vrosnoki growth to save Vrosnoki pensioners? It would seem we got our answer as the Kupala Administration is looking to accept deficit spending to achieve both goals.

For starters, pensions. While they can't be brought to ideal levels, the proverbial bleeding from the confederal cuts can be stopped. At least even if a little. As such, a one time 10% boost will be applied for pensioners through October 5656 to March 5656. These pensions will be adjusted to inflation as well. While it isn't alot, it's better than casting pensioners to the cold. The Ministry of Social Protection will be responsible for ensuring pensions adequately roll out and are managed. The goal is to ensure bleeding stops and ensure that pensioners don't suffer as the Confederation focuses on economic growth. Hold out long enough until either the cuts can be reversed or, cynically, the individual republics step up. 

As for economic development, well it gets murkier. This is certainly going to involve deficit spending, but it'll be necessary for Vrosnok. Investments into aquaculture will be vital for rural rejuvenation and expanding economic diversity. As such, small state grands will be provided to ensure the construction of fisheries and cold storage facilities across the country, especially in rural communities around lakes, rivers or the coasts. Urban Vrosnoki can go into IT or Oil for major sectors but rural Vrosnoki? They deserve care and attention as well. Equipment will be subsidized, however only limited to small scale equipment such as aquaponics and recirculating systems. A significant portion of funds will be dedicated to modernizing roads and railways to ensure that these fisheries can actually export their products to the rest of Vrosnok, and the rest of the confederation. It's small steps, and with deficit spending being controversial, it isn't enough to say it's a great start for a new industry, but it isn't the worst start either. The Kupala Administration is making due with what's available.

While the opposition parties in the Vrosnoki Assembly criticize the deficit spending, the VdAV-DSNP Coalition has responded by simply asking, what's the alternative? Vrosnok is in a hard rock, and a hard place. Kupala herself has claimed the following.

I don't like that we have to engage in deficit spending. But I will not have my administration be known for turning it's back on those who need help. Neither will it be known as an administration that ignored the economy. Zarvosopol is doing what it seems necessary for the greater good of the Confederation. I may not agree with the direction, but I respect it because it's for the greater good of the Confederation. Even if misguided. I won't lie and say that I know we can resolve deficit spending. But I'd like to hope that we can invest into new industries to outproduce the deficit and at least come closer to a surplus, even if it seems out of grasp.

While she's faced criticism for potentially banking the economy on hopes and dreams, others have praised her honesty and support for pensioners in Vrosnok. But it remains to be seen what will happen. The situation isn't terrible, fortunately, but it's a hard situation to be in.
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The Паўночны штандар (Northern Standard) is an independent news network dedicated to bringing independent, non-partisan news to every corner of Vrosnok.

[Svetlana]

The government forces the selling of defunct Trigunian companies as GRC and NHI are merged into Xavax Technologies, stockmarkets across Nadiya skyrocket in green: cleaning up the Trigunian trash

Zarvosopol, Kozaki. Today the NGA passed yet another law that strikes against the megacorporations, named the Economic Diversification Act, the law forces the 6 megacorps to begin selling defunct trigunia-era companies as part of the dismantling efforts from the NCB. Chief executive Konstantinovna held a speech in front of the NGA in which she stated that the civilian airline company Sky International, the oil refining company Chadonia, the electricity company Svemorod, and the car arm manufacturer Trinoromod will be forcefully seized from the grips of the megacorporations such as Venus Trap Conglomerate and the Radin Pharmaceuticals Umbrella Corporation who were both heavily downsized with their assets seized by the NCB and redistributed to medium and small scale companies in order for them to compete against the megacorporations. Furthermore, Snezana announced that after the major downsizing of Golden Rose and New Hope, both companies will be merged to form the Xavax Technologies Groupe with the Nadiyan government owning 45% of the company as part of the plan to maintain a somewhat reasonable level of market openness with the respect of workers and labour rights. Following the recent changes and policies, the stockmarkets across Nadiya have began rising quickly which took by suprise most experts as the markets themselves have historically only grown on a steady 2% average but seeing a peak of 9% overnight took them by suprise yet it shows that the government's actions alongside the central bank's purge have started to benefit the Nadiyan economy.

[Elena1012]

Supporting fisheries and aquaculture; Continuing rural development.
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December 20th, 5655
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The Kupala Administration recently looked to begin investing into fisheries and aquaculture in an effort to give rural Vrosnok more support and care. While it's resulted in deficit spending, the (somewhat half) measures have been somewhat successful so far. But because of limited finding being provided, this obviously has lead to some issues. Now, the Kupala Administration is looking to fix this, fix any holes in the proverbial ship, and support the confederations goal of a strong diverse economy.

So, for starters, laying cement over the holes. While basic infrastructure and jobs have rolled out, it's just that. Basic. And basic doesn't get economies rolling. As such, it's time to roll out the cement. Cold storage will be expanded drastically, and micro loans will be provided to private interests looking to develop small aquaponic startups. Finally, the Vrosnoki Fisheries Registry (Рыбны рэестр Вроснокі) will be created, looking to work with state and private owned fisheries in monitoring worker conditions, operations, exports and ensure documentation.

Furthermore, universities across the country will be encouraged to offer studies on cold chain logistics and modern aquaponics. A well trained, well educated workforce is a good workforce. Furthermore, the state will support the creation, and encourage the creation of unions in all industries, but especially in the fishery industry. This ensures fair pay, and good conditions and gives the average Vrosnoki a voice. 

More work is always needed before we can say we're done, but should these efforts succeed, Vrosnoki Fisheries can focus on exporting to other republics in the confederation and be a major exporter of fish and such for the confederation. But the biggest questions asked are if this can reverse the deficit spending without enacting more austerity than already being seen in the Confederation.
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The Паўночны штандар (Northern Standard) is an independent news network dedicated to bringing independent, non-partisan news to every corner of Vrosnok.

[Svetlana]

Konstantinovna successfully passes the 5667 budget with increase in welfare alongside tax hikes, Hutorian companies successfully acquire old Trigunian companies: start of the recovery

Backdated: November 20th, 5666
Zarvosopol, Kozaki. All three chambers of parliament gathered today to examine the proposed budget for the year 5667 made by Konstantinovna's finance commissioner, the package of paper is a near exact carbon copy of the 5666 budget yet it varies in ways nobody expected. For starters, the social spending of this hear has been increased by 15% which finally allows for pensions to be fully paid to retired workers alongside a restoration of full-coverage public health insurance that was only partial in the last budget, the reason for such changes comes from the recent 2 years of reforms done by the government and the central bank that helped uncover billions of unused and wasted rubles that were reallocated to next year's budget. Those discovered funds were mostly taken during the NCB's purge of corrupt financial institutions and its witchhunt against black market currency exchanges and the megacorporations who were given fines in millions of NRB for violating the anti monopoly laws. In addition, Konstantinovna's budget also includes the introduction of progressive taxation which meant that even more funds were directed to the Confederal reserves, this in turn allowed for the increase in welfare spending and even increased the surplus from 7% to nearly 13%. The increase in budget will allow for the government to more easily pay back its debt and improve the credit rating for the confederation, and when both the debt is decreased to at least 60% and Nadiya's credit rating is considered as excellent, Snezana promised that her administration will help maintain such status until Nadiya's becomes one of Terra's major financial and economic hubs. Furthermore, the recent acquiring of Chadonia, Sky international, Svemorod, and Trinoromod during an recent auction held by the central bank, the hutorian companies backed by their country's biggest financial institutions has allowed them to buy those companies at a competitive rate, when asked about their plans for the companies, the hutorian buyers stated that they will transform those companies into local launchpad for hutorian companies into the Nadiyan market as negotiations with the government have resulted in an agreement to have at least 80 to 90% of the workers in those companies remain Nadiyan and from local communities, something the Hutorians agreed to do.

[Svetlana]

The NCB announces the successful stabilization of financial institutions and the economy as the NRB skyrocketed in value, national debt falls from 135% to 112%: the reforms aren't over yet

Petrograd, Kozaki. The 5666 economic report and the 5667 economic forecast from the NCB were what everyone was talking about in Nadiya for the past months as they would determine if the 2 years of extensive reforms to the Nadiyan financial institutions have been beneficial and not a PR stunt. So when the NCB received the reports from the teams of independent economists and experts that were sent across all of Nadiya and even were allowed to diagnostic the central bank itself, the nation held its breath as Evelina Maximovna headed to Zarvosopol where a joint meeting between the presidential council, Tsarina Anastasia & Tsar Artemio, alongside a joint committee of the 3 chambers of parliament, and the members of government in which Evelina was expected to read the report and give her opinion on it. The report opened with the issue of NRB stabilization efforts and its effectiveness, Evelina said, "When I first started my governorship of the bank 2 years ago, our finances were absolutely horrific with the ruble being catastrophically low in comparison to the Canrille Fleur, as a matter of fact 1 CFR equated to 800 NRB according to official rates but on the black market it was 1 CFR = 1500 NRB which is an absolutely catastrophic situation we were in thanks to years of mismanagement and lax policies from the previous governors. As such, I began stabilizing the NRB by halting the printing of any new bills or coins and I cracked down on black market currency exchanges with the help of the government which allowed us to significantly eradicate those illegal exchange points by redirecting Nadiyans to exchange points ran by the central bank that had way more favorable rates compared to the unofficial ones. Not only that, the bank also hiked up intrest rates on our loans and pushed the government toward meeting its +7% surplus on the 5666 budget alongside handing over loan to small and medium sized companies which allowed them to grow at an organic rate. The value of the NRB in turn increased from 1 CFR= 800 NRB to an acceptable 140 NRB = 1 CFR. But the issue we are facing now is a historic inflation of +8% and it peaked in March of last year at 25%, the bank in collaboration with the government will work on addressing that issue so our population can afford to live in the confederation." She then continued with, "When it comes to financial institutions, we are doing wonderfully on that point", "In 5665, the number of financial institutions involved in illegal or opaque activities was 240, now I'm glad that only 12 institutions are left, with most of the ones that took part in those deals were either dismantled in favor of forming new clean institutions or purged their own ranks from their corrupt members including their CEOs and executive boards with the held of CERD. This purge of corrupt bankers, creditors, and trustees has allowed us to stabilize our financial sector and economy by making us a trustworthy nation when it comes to loans." She then followed with, "Speaking of loans and debt, our national debt has fallen from 135% of GDP to a mere 112%, all of that thanks to economic stimulus of the Konstantinovna administration and their budget surpluses. We are expecting a decrease of the debt from 112% to a humble 73% by 5670 if we maintain the current +13% surplus that's part of the 5667 budget. Our credit rating already went up from BB to BBB then A+,  so if we keep on paying off our debt and stimulating the economy, our target of an AA rating will be met within the next 10 years."

[Svetlana]

The NCB hikes interests rates as it combats inflation, Comission for Fair and Humane Development established while 3 new big banks emerge: after the storm, comes sunshine

Petrograd, Kozaki. Following the release of the 5667 economic forecast in March and the wave of investments coming to Nadiya due to the recent radical structural and financial reforms brought by Evelina as governor of the NCB, the Nadiyan confederation finds itself gripped by a rather high monthly average inflation of 8% so in order to fight the spike in prices and maintain the new value of the NRB, Evelina announced in a press vonfconference that the bank will increase intrest rates to 7% in order to calm down inflation. She also announced that the bank will help the government in rolling out new laws that would allow for the decrease of inflation to a normal level of 1 to 2%. In addition during the press conference, Evelina was seen standing to a man known as Babkina Vladimir Igorievna, he used to work as an enforcer for the CERD in Rodashyam before climbing up the ladder to point where he was announced as the head of the newly created Commission for Fair and Humane Development under the direct control of the NCB. The new agency will have to implement durable and long term investment and development plans that can uplift both the Nadiyan economy and it's people by working within the constitutional framework of a Socialized economy  but also help the constituent republics receive and successfully implement the economic stimulus packages sent and approved by Zarvosopol and Petrograd, and any republic that reroutes or fumbles the checks will be fined and punished by the government. When asked about what the agency's main focus will be for the upcoming years, Vladimir replied with "Personally I think that we have to focus on maintaining the current transparent and corruption free model put by the governor that helps us develop our economy in a healthy way that ensures a long term vision for the country alongside uplifting each of the republics to make them more balanced economically and equal to one another" he then added "As a matter of fact, my agency is happy to announce the adhesion of 3 new banks to the NCB's registry of 'strong and stable' institutions, those banks being the Nadiyan National Bank, the Bank for Development and Investment of Nadiya, and the Credit Standard who will become official partners of the central bank and the CFHD in helping making Nadiya one of the most prosperous nations in Terra."

[Svetlana]

Matriarchist judges appointed in the supreme court as the government begins affirmative action for men, Indegnous Library of Wisdom established: you gain some you lose some


Spask, Lesnov. The Nadiyan supreme court has experienced it's most historic day as the Chamber of Justice appointed 5 matriachist judges to the confederation's highest court. The 14 seat judicial body had 5 of its members reach their term limits last year which then lead to what felt like an infinite debate scession in the CoJ between the government and the Matriarchists due to the Hosian Matriarchal Democratic party holding the biggest number of seats in the chamber and the PPN refusing to work with the Pastels in appointing new justices alongside the fact that the MUP holds 39 out of the 40 seats the PCP have in the CoJ has allowed for the successful appointment of the justices and thus cementing conservative control of the court for the foreseeable future. Furthermore, the progressive members in the CoJ have entered panic mode as the remaining 3 progressive justices are expected to hit their term limit next year, this panic has also hit the government as they narrowly passed the Men Affirmative Action bill through both NGA and CoN but with the supreme court falling under conservative control and the 3 progressive judges being forced to leave next year, this means that the moment a conservative organization files a lawsuit again the government and takes the matter to the SCC, even tho the bill is within the constitutional and legalbframework of the government, the rulling will most definitely have any and all affirmative action watered down until they are useless thus stalling the gender equality movement to a halt. In other news, the Presidential Council member Marya Ulva has announced the foundation of the long promised Indegenous Library of Wisdom in collaboration with the Haivan government, the library was designed to host more than a million physical copies of book and many more in digitalized form alongside including a museum about the indegnous people of Nadiya where artifacts, cultural pieces, and guides will help tell the story of the true native population of Nadiya and their culture for generations to come.

[Elena1012]

Local Elections held as Progressive People's Alliance prevail; VdAV sent to the opposition.
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June 3rd, 5658
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The 2nd Vrosnoki General Elections have been held and while the VdAV-DSNP Coalition did sufficiently well, it seems voters want to slow things down for now as the progressive conservative/liberal conservative (by Nadiyan standards) Progressive People's Alliance has prevailed, forming a coalition with the Civic Liberal Union. The PNA-HLS Coalition has set out on an ambitious agenda as Chaslava Zablocki is sworn in. 

Looking to continue economic modernizations and maintain the cultural revival programs, the PNA-HLS Coalition looks to focus on not rocking the boat, letting things occur naturally and giving the nation time to breath comfortably. A special focus has been given on rural Vrosnok, continuing development there and working with the Confederal Government on public transportation planning en masse. The liberals in the coalition will gain the promises of economic development whilst the conservatives get to maintain the status quo. However, there has been slight controversy as the PNA has been previously skeptical of affirmative action for men in Vrosnok, and with the HLA holding it's nose to form a coalition, it's unlikely that affirmative action in Vrosnok will get far for men as Nadiyan Conservatism slowly finds a home in Vrosnok. Whatever the case, this Administration will focus on careful spending, rural investments, and generally not rocking the boat.

While some may call it boring, others may call it a necessity as while the VdAV-DSNP Coalition did good, no one wants to risk rushing things too quickly with cultural revival and incite violence or burn the people out. While social liberals and socialists are a bit upset, economic liberals and Nadiyan Conservatives find themselves pleased whilst Krivian nationalists are happy that the cultural revival programs won't be reversed whatsoever. Overall, the Zablocki Administration will be a defining moment for the Vrosnoki branch of Nadiyan Conservatism, and if it can thrive.
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The Паўночны штандар (Northern Standard) is an independent news network dedicated to bringing independent, non-partisan news to every corner of Vrosnok.