Becoming a Russian Oligarch After Rebirth
Chapter 1163 - 981 New National Debt Plan_2

Chapter 1163: Chapter 981 New National Debt Plan_2

As for how to allocate the amount of funds, and how much money each country can get, in principle, it is to be discussed and decided by all member states together.

However, as the permanent Secretary-General of the Economic Cooperation Organization, Wang Ye has the final decision-making authority!

After all, the money comes from Russia, so it is only natural that Russia has the final decision-making authority, and no other country has objected to this.

After an intense "discussion," Wang Ye made the final decision, and the allocation of the first year’s aid of 30 billion US dollars is as follows:

Ukraine gets 6 billion US dollars!

This is also the biggest "piece of the cake," as, apart from Russia, Ukraine is the largest and strongest among all the member states, and its economy is indeed very difficult at the moment, so it’s only natural for it to take the largest share.

Azerbaijan and Belarus both get 4 billion US dollars.

The situation in Azerbaijan is special; under normal circumstances, it should not get so much, but this year’s financial assistance includes about 2 billion US dollars it needs to pay for the relocation and resettlement of the people in the Nagorno-Karabakh region.

As for Belarus, although it is a small country, it is Russia’s "stalwart little brother" and has very good relations with the Kremlin. My father-in-law personally sent word that we should give them a bit more, so Wang Ye is giving them appropriate consideration!

Together, these three countries make up 14 billion US dollars, almost half of the total.

The remaining 16 billion US dollars are to be divided among the remaining four countries, with each getting 2.5 billion US dollars, totaling 10 billion, leaving a balance of 6 billion US dollars.

Wang Ye directly announced that this money would be invested in the Crimea region, all for infrastructure and public facility improvements, such as water and electricity networks and roads.

There were some who voiced objections, saying that Crimea belongs to Ukraine and there’s no need to allocate so much money to it specifically, almost as much as Ukraine is getting.

Wang Ye explained with justified confidence that in the future, Crimea will not only be Ukraine’s Crimea, but all of Eastern Europe’s Crimea!

This peninsula will become an economic locomotive for all the countries present!

It will also be open to all member states, with visa exemptions, tax exemptions, and free trade.

As long as Crimea can develop, all member states will benefit greatly.

Now, the overall economic level of the CIS countries, including Russia, is not high, and none stand out economically.

In order to attract more Euro-American capital for investment, it is imperative to concentrate funds to create a city bright enough to catch their eyes, and Crimea is the best choice!

Wang Ye’s actions could be seen as "privatizing the public interest."

Nominally, Crimea still belongs to Ukraine, but in fact Ukraine has all but abandoned it, and Crimea’s "three powers" have long been independent and autonomous.

Moreover, Crimea has now become a Free Trade Zone. With Wang Ye’s continued investment over the years, its economy really has started to take off, which all the member states have seen for themselves.

That’s probably one reason why they didn’t oppose it anymore.

...

After two meetings, Wang Ye took on two more titles and positions.

"Permanent Secretary-General of the Collective Security Organization" and "Permanent Secretary-General of the Commonwealth of Independent States Economic Cooperation and Mutual Assistance Organization."

They sound low-key, but they come with real power!

In some respects, Wang Ye actually controls both major cooperative organizations, providing excellent conditions for his sphere of influence to spread from Russia to surrounding countries.

But that’s for the future, and for now, Wang Ye has no clear plan.

It can only be said that things turned out coincidentally, as these developments were not in his original plan...

After being busy with these matters for about a month, time moved into September.

However, Wang Ye still has a lot to do, just a bit less busy compared to the whirlwind of activities from the previous days.

He’s been saying he needs to find time to visit Angelina in Crimea, but he really can’t find the time.

Fortunately, with the implementation of the Mikhail Plan, which calls for a 3 billion US dollar allocation to Crimea, he plans to have Angelina come to Moscow for a visit so they can spend some time together.

But before that, Wang Ye needs to solve a major problem.

That is where the 30 billion US dollars will come from...

Indeed, the Economic Cooperation Organization has been established, and the aid plan has been presented, even the amount each member state will receive has been settled, but the source of the funds is still unclear!

Fortunately, in line with what Wang Ye stated at the meeting, these funds would be allocated to each member country in succession around October.

Because this money wasn’t given for nothing, nor was it meant for member countries to spend however they wished, but rather to promote the economic development of their nations.

Therefore, each member country must submit a detailed plan for the use of the funds.

This included, but was not limited to, where precisely the money will be spent, the related budget, and the expected outcomes.

If a plan was outlandish, it would be returned for revisions, or the funding might even be withheld!

As such, everyone was given a month’s time in-between to go back and discuss how to use these funds.

Of course, Wang Ye did this to give himself ample time to arrange the funding...

...

At the Kremlin, the National Economic Commission, Wang Ye called for a meeting, and every committee member was present.

As the meeting began, Wang Ye had his assistant Nova distribute a document to everyone present.

He said with a smile, "This is a draft that I have just prepared for the issuing of national debt. To meet the needs of national development, I believe it is necessary to issue more national debt to speed up economic growth! Right now, we’re too conservative in this regard and falling behind the times.

We can take a cue from the United States in this area. They’ve borrowed so much national debt, and they continue to issue new debts, yet their economy has been steadily climbing. Why can’t we learn from them?"

Back in 2005, the combined domestic and foreign debts of Russia had just topped one hundred billion US dollars.

At the same time, the total national debt of the United States had already broken ten trillion!

Every year, just paying the interest on the national debt amounted to more than four hundred billion US dollars...

Wang Ye dared to promise "little brothers" an annual aid of thirty billion US dollars and dared to undertake The Great Infrastructure Project because he grasped one principle.

In the following decade or so, it was the golden window for economic growth for the vast majority of countries worldwide!

With a populous major power joining the WTO, a new development opportunity emerged for the whole world!

So, as long as a country wasn’t too "decrepit," the following decade would be the best time to develop the economy.

And what if a country wanted to grow faster and take a lead?

It needed to be bolder and take larger steps!

Borrow money for development!

At the onset of global economic activation, quickly borrow enough money to solidify the foundational conditions, and naturally, the economy will kick off faster than other countries.

Then, during the golden period that follows, a larger share of the pie can be secured!

Therefore, Wang Ye presented his drafted "New National Debt Plan"!

The amount listed at the start of the document shocked all the committee members present - two hundred billion US dollars!

Yes, Wang Ye planned to issue two hundred billion US dollars’ worth of national debt all at once, and not just as a one-off but to issue at least that amount in new national debt every year!

This would continue until he deemed it unnecessary to issue more...

Perhaps, this time would come three years later, five years later...

...

Actually, issuing national debt involves addressing two issues.

One is your country’s creditworthiness, meaning if your country lacks credibility, investors wouldn’t be convinced that your nation can develop in the future, and your national debt naturally wouldn’t attract buyers; hence issuing it is pointless if you can’t sell it!

The second is the capacity to repay.

National debt is not a joke, and it’s not like you can just default on your debt on the strength of your country’s power.

Even the United States, as strong as it is, would rather let its government go bankrupt than fail to pay the enormous interest on national debt every year...