Ok, ok...Voreqe and his financial wizards are expressing sympathy for our people, but can only help them by saying that the 20% devaluation is a good thing for us because it means an increase of our foreign reserves at $1 billion.
Cut the crap already!!!!!!!!
Children can't make it school. Children don't eat much to survive. Parents lose their jobs. Parents can't buy neccesities for their families. Others rob, rape and kill! And all you offer is BULLSHIT WORDS to say you understand their plight, while you line your pockets and your family members with stolen dollars?
So, all this talk of money saved...what is it going to be used for? Preparing for the elections? Processing the Constitution, which you have probably already have some goon working on, like you did your FARTER CHARTER, which magically appeared even before one can finish saying the word COUP!?
So, spell it out Voreqe? Show us the money for real. We don't want to hear just figures because according to this, devaluation and its effects is not a good thing.
Effects of Devaluation (http://www.newyorkfed.org/aboutthefed/fedpoint/fed38.html)
A significant danger is that by increasing the price of imports and stimulating greater demand for domestic products, devaluation can aggravate inflation. If this happens, the government may have to raise interest rates to control inflation, but at the cost of slower economic growth.
Another risk of devaluation is psychological. To the extent that devaluation is viewed as a sign of economic weakness, the creditworthiness of the nation may be jeopardized. Thus, devaluation may dampen investor confidence in the country's economy and hurt the country's ability to secure foreign investment.
Another possible consequence is a round of successive devaluations. For instance, trading partners may become concerned that a devaluation might negatively affect their own export industries. Neighboring countries might devalue their own currencies to offset the effects of their trading partner's devaluation. Such "beggar thy neighbor" policies tend to exacerbate economic difficulties by creating instability in broader financial markets.
IS THIS SOMETHING VOREQE WILL TRY AND SUGGEST TO THE MSG???HMMMMMM...
Where in the world is Frank Bainimarama?
4 weeks ago