Economy of the UNAC: Difference between revisions

The '''economy of the [[United Nations of the Auroran Continent]]''' ('''UNAC''') is the largest customs and free trade area on [[Urth]]. As of 1 December 2021, the economy of the UNAC comprises 22 sovereign nation-states. 21 of the member states of the UNAC are upper income nations while 1 is an upper middle income nation. 2118 out of 22 member states of the UNAC (except [[K'undzeti|K'undzeti]]) including one other non-UNAC nation (i.e., [[Baykalia]]) are members of the [[Auroran Central Bank|Kirib Monetary Union]] (Kiribzone) using the [[kirib]] as their sole legal tender.

The [[Kirib]] is the legal tender of all the member states of the UNAC except for Kundzeti[[The Andorinhões]] (which uses the Andorinhean escudo), [[Xiopothos]] (which used the Xiopothos dollar), Asilica (which uses the Asilica mark) and [[K'undzeti]] which is transitioning from the provisionalProvisional mark.. Once that transition is complete, all18 out of 22 of the member states of the UNAC will use the kirib as their sole legal tender. The [[Auroran Central Bank]] (ACB) is the central bank of the Kiribzone. It is formally outside and independent of the UNAC. However, because most of the member states of the ACB are also members of the UNAC, the monetary policy of the ACB serves the interests of the UNAC economies. The Kirib the largest reserve currency in the world and it serves as the primary medium of exchange of the [[International Banking Exchange Cooperative]]. Thus, this gives the UNAC significant clout over the international financial system. The Kirib trades at 1 to 1 parity with the [[South Hills|SHD]]. The Kirib is a free floating currency known for its remarkable stability and confidence. The countries with the largest reserves of Kiribs outside the UNAC are the [[South Hills|United Confederation of Concordian States]] (UCCS), [[Packilvania]] and [[Peregrinia]].