The country of Jutland, a middle income developing country has been in the news recently for several reasons including its default on government medium term bonds for three consecutive payment dates and has been downgraded by two of the major rating agencies. The report from the Central Bank and the IMF Article 4 Consultation states that export earnings have been declining despite the precipitous fall in the exchange rate while imports continue to increase. In addition, the report by UNCTAD noted that FDI is at an all-time low even though there is evidence of expansion of some key infrastructure projects. Following the announcement of the default, the Minister of Finance has been under increasing pressure from domestic producers, consumer groups, labour unions and international investors to take measures to address some key variables and streamline the economy. Over the past year the Central Bank intervened in the market on four separate occasions to support the value of the domestic currency. In spite of those interventions the exchange rate continues to deteriorate, negatively impacting the level of international reserves. The Minister of Finance, in an effort to calm the rising tension and to engender confidence has put together a committee drawn from the business community, academia, economists and financiers tasked with the responsibility of finding both long term and short term solutions to the problems. You, as the CEO of your company has been asked to represent your institution. Having listened to the problems faced by the country, 

Prepare a report to the Minister of Finance on the most appropriate way to stabilize the economy and restore confidence, taking into account the various indicators to be addressed and the necessary measures to be implemented. In doing so, give reasons for each action recommended. This is a middle income country on the verge of economic take-off.