In accordance with the final recommendations and requirements Basel III, it is recommended for all national banking regulators, such as National Banks, Reserve Banks or Central State Banks to carry out audits of the Special Accounts of the state and commercial banks, having defined Capital requirements of Tier1, Tier2, Tier3. After identifying all assets that do not meet the Capital requirements of Tier1, Tier2, Tier3, they should be taken out of circulation, out of balance sheets and prepared for liquidation.
Regarding debts of countries, based on loans, received from various banking organizations. It is recommended for the Ministries of Finance of respective countries to request from national regulators of Lender Banks to provide the reports on Capital requirements of Tier1, Tier2, Tier3 for the received Loans, based on the recommendations and requirements of Basel III. If Capital requirements of the received Loans do not have appropriate gold backing, these obligations should be prepared for liquidation.
Regarding loans from of the International Monetary Fund. It is recommended for Finance Ministries to carry out debt audits, starting from the introduction of the Jamaican Currency System. After submission of these reports to the International Treasury Monetary One and their review, M1 will provide necessary assets for complete paying off of Government loans to the International Monetary Fund;
Regarding international, external government debt, which formed since the introduction of the Jamaican Currency System. It is recommended for Finance Ministries to carry out debt audits, identify medium- and long-term debts, submit the reports on medium- and long-term external debts to the International Treasury Monetary One for review. M1 will provide necessary assets for the complete closure of medium- and long-term external debt between the countries.
It is recommended that all countries review government programs and investment projects in accordance with priority directions for the development of the country's economy, defining programs and projects that provide environmental and ecological safety, solve the problem of food production, employment of the population, infrastructure development, affordable housing for all citizens, transition to sustainable use of natural resources. All countries should review their energy security concepts with the scope of transition to alternative clean energy sources, taking into account the coming availability of innovative technologies of energy production, actively implemented by us.
The International Treasury Monetary One will provide necessary assets for financing the above-mentioned government programs and investment projects. Special working groups from each country will help determining the terms and funding schedule, as well as choosing programs that receive non-repayable financing.
The above-mentioned structural measures require intensive worldwide collaboration. We respectfully ask all interested and conscientious International Financial Entities, Universities and private accredited experts for their qualified and confidential input and participation.