Kalistani Major History

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Millions turn out for Funeral of Slain PresidentKalistani Economy takes a Nosedive on uncertainty over successor
Kaliburg, Ananto
May 14, 4439


Crowds filled the Capital for Al-Khali Funeral

More than 3 million Kalistani's flooded into Kaliburg as the assassinated President of the Republic, Abdulaziz Al-Khali, was carried from the National Assembly, where he has lain in state for the past day, to Kaliburg International Airport, where his body was placed onto a plane and flown to Sulari for his final burial this morning.  The main streets of the Capital City had been closed off to traffic, and capital police needed to enlist the assistance of the RSMoK to help keep crowds from spilling out into nearby streets. 

The motorcade which carried the President's body crept along down Republican Avenue, and regular Kalistanis got to say their good byes to the controversial, but adored figure.

"Well, I mean, I don't like some of the stuff he did, but standing up to the NC was something I and my entire family supported, and so we would have supported him as President till the cows came home," said 83 year old Anantan Mildred Greene.  "I know Rightists who had a hard time voting for the Right, because Al-Khali was so popular in Kalistan."

Most of the people interviewed echoed the same sentiments.  In an informal poll taken by The Republic, 92% of respondents said they liked that Al-Khali never backed down toward the Northern Council.  Most responses sounded like this one from 23 year old Mother of 2, Deeanne Fossey.  "He made Kalistan strong, and he did it with integrity.  Yeah, his language was rough.  But he was a rapper, you sort of expect it.  But I loved reading all the reprints from foreign papers that The Republic does all the time.  Al-Khali said something that we all are thinking, and all these rich and powerful nations trip all over themselves to threaten us and do war games and stuff.  I mean:  think about it.  Kalistan feels like a world power, even if other countries have bigger militaries.  People take us seriously.  Some people want to help us, some people want to hurt us, but nobody ignores us, and that feels good.  It...  felt good, anyway."

The hesitation and uncertainty at the end of Fossey's statement the general sentiment early today, and became pessimism now that Al-Khali is buried.  Uncertainty is on Kalistani investors' minds, and it is being reflected in the price of stocks.  The Private Sector Big 100, which is an index of the 100 best performing stocks in Kalistan's Private Sector, as measured in foreign Markets, took a dive, losing 22% in the last three days.  Public sector stocks which are a bit more insulated from irrational market panics, nonetheless were also trading down, as nervous investors began to be concerned about who will take Al-Khali's place.

One trader, who holds a widely diversified portfolio of both Kalistani stocks and foreign stocks, and who spoke on the condition of anonymity, said "Uff.  My domestic stocks are taking a beating.  But I mean, of course I'll sell.  I've watched futures all night and they point to a bloodbath today.  I'm not going to be the one left holding the bag.  And who knows who the Party will put in there to run the country?  Their bench ain't too deep right now, having been wiped out by that stupid Clerical Election, and nobody is sure if the next person will continue Kalistani prosperity, or if they will take a different tack.  Its just hard to say, and I think it is going to be a VERY difficult year for the Kalistani Economy."

We reached out to Dr. Stephanie Morrison for comment:  "Uncertainty is poison for economic prosperity.  This is why Kalistan's economy has had such a prolonged streak of success:  The Government is able to ensure stability and force strong market principles, despite the best efforts of the Private Sector to set prices and wages to the benefit of the owners and investors.  But with Al-Khali's assassination, the Government, which is the main break on speculation, is caught off guard and unprepared, and Kalistani investors see this, perhaps better than anyone else in this world.


Premier of the Republic Maria Reina-Rodriguez is acclaimed Interim President of the Republic pending elections; Hashimoto is named Interim Premier

The Premier of the Republic was immediately named to replace Al-Khali on an interim basis by the National Assembly, and then spoke to the Deputies in an effort to allay fears.  "We are waiting for the last of the non-voting members of the various defunct political Parties to drop off the rolls before we are able to call for new elections and put in a new government.  Meanwhile, I will be naming Abraham Hashimoto, who is currently representing Kalistan in Vanuku, as the Acting Premier.  Hashimoto is a seasoned diplomat, and has served in this capacity in the past.  Other Ministers of the Government are expected to report to and take direction from Hashimoto, as a request from the President.  Additionally, if our stock indicies fall too far, we will ask the Finance Minister to suspend all trading of public stock until the crisis has passed."

The Finance Minister, Julie Westin, for her Part, has ordered The Republican National Bank to be prepared, on a moment's notice to suspend withdrawals, if withdrawals begin to exceed 125% of their average daily net.  "A temporary halt in withdrawals may be necessary," Westin said early this afternoon, "As we don't want to touch the foundations of the Kalistani Economy while people are panicking.  The fundamentals of the Dual Economy will remain sound, regardless of what the out-of-control investor in unreasonable berserk mode thinks should happen."

Early and decisive action on the part of Westin appears to have staved off panic around the Monetary system in Kalistan.  "A stable Ruble will do wonders for Kalistan as it recovers from the financial panic which appears to be brewing in Kalistan," Morrison said. "The Bank has been remarkably resilient and stable, growing at an average annual rate of .7% since its chartering nearly 30 years ago.  A crisis at the Bank would certainly signal that an earthquake is happening elsewhere in Kalistan's economy, but we don't see that on the horizon." 

Westin confirmed that withdrawals have been higher than usual throughout the day, but insists there is nothing too far out of ordinary.  "Yes, we have seen a higher volume going out of the Bank than we are used to, but  we are still well above our 125% mark.  Due to our sizeable surpluses, we have more than enough cushion to weather out all storms coming our way from any normal economic downturn, which are admittedly quite rare in Kalistan."

Only time will tell how deep the economy in Kalistan will plumb, and what longlasting effects it will have on Kalistan and surrounding nations are unknown.  And it is the far of the unknown which have set Kalistani investors to selling.  We will report the looming crisis as it unfolds.