Summarizing an Article with an accompaning outline Essay

Summarizing an Article with an accompaning outline - Essay Example This helps in reducing money supply in the economy and a reduced money supply results in lower inflation and thus reduce any risk of devaluation. Other Russian states are also facing problems of rapid dollarization; most payments even on micro level are increasingly being made in dollars. Another method of hedging against currency risk being adopted by banks is lending in dollars. This however creates problems for borrowers who have loans in dollars and business reserves in GEL. Their risk is dramatically increased which makes it difficult to survive in an already recessionary environment (Gardner, 2009). This will also reduce taxes for the Georgian government. This is because as the losses of currency devaluation increase on the income statement, the taxable income is automatically decreased. The high budget deficit of 9.4 percent of the countrys gross domestic product is also a major obstacle to stability of GEL. The IMF however still insists that Georgian national bank is equipped with all necessary tools to protect the national currency. The high reserves base of GEL being held by the national bank has reached 2,109,000,000 GEL (Gardner, 2009). This is very important in order to keep stability in the currency value. The bank can use these reserves to control exchange rate fluctuations in the market. That will however be a controlled economy, the National bank has pledged that it will not temper with the free floating market. The free exchange rate environment will continue to function. IMF has insisted that Georgian economy cannot sustain a totally market controlled exchange rate system. The National Bank will have to intervene in order to control shocks created by continuous temporary fluctuations. The current strategies being adopted by Georgian government and National Bank are a positive step in providing stability to both economy and currency. The banking sector has shown resilience against

Assignment Example | Topics and Well Written Essays - 500 words - 128

Assignment Example This paper explores and discusses the sovereignty claims of the native tribes in Alaska and Akaka in Hawaii. Natives of Alaska, a land purchased by the United States from Russia have gone through a tumultuous period of political and legal up and downs before the recognition of their self-government status by the federal government. Throughout the contacts between the aboriginals of Alaska and the Europeans, the natives have hotly pursued their rights to the ownership of their lands. In history, the Tlingit, Tanaka and Haida tribes initially fought with the Russia, and vehemently object the sale of the lands to the US, claiming the rightful ownership. After the sale, they took their struggle to a different player until the recognition of their status through the Congress enacted law, the Alaska native Claims Settlement Act in 1971 (Zellen, 120). The state government of Alaska has over the years softened its stand on tribal sovereignty amongst the Alaskan tribes. In 1992, the Native Policy Statement, an instrument from the state government codified laws acknowledging the tribal authority and recognized their special status. Hawaiian sovereignty efforts are dissimilar from other Native American claims as they demand total cessation from the Union and a return to the previous monarchial rule. However, there are certain actors within the native population who are pushing for self democratic government, whilst others have acknowledged the importance of the Union and are urging fellow tribes mate to stay within the Union. In the same breath as the governments of the other Native Americans, such as those in Alaska, the native populations are pushing to be including in an arrangement referred to as a nation within a nation (Trask, 66). In fact such a bill has been brought before the senate, repeatedly the Daniel Akaka (Kauanui, 173).