Time to Overhaul the Global Financial System

For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they need to be able to borrow reliably on decent market terms. Yet the current two-tiered global financial system extends this privilege almost exclusively to rich countries.

Can the Fed Overcome Its Transitory Policy Mistake?

The later the US Federal Reserve is in reacting properly to inflationary developments, the greater the likelihood that it will have to hit the policy brakes hard, causing market turmoil and unnecessary economic pain. The Fed must now do two things quickly.

Turbulence at 30,000 Feet

Financial markets hit an air pocket last week and the market moves were sharp and unsettling. The turbulence isn’t likely to be transitory.

Digital Finance Without Cryptocurrencies

Digital payments and financial transactions hold the promise of greater convenience, stronger competition, and increased savings to society. But when it comes to digital currencies, central banks – and not free-floating cryptocurrencies or stablecoins – should lead the way.

Financial markets hit an air pocket last week and the market moves were sharp and unsettling. The turbulence isn’t likely to be transitory.

For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they need to be able to borrow reliably on decent market terms. Yet the current two-tiered global financial system extends this privilege almost exclusively to rich countries.

The later the US Federal Reserve is in reacting properly to inflationary developments, the greater the likelihood that it will have to hit the policy brakes hard, causing market turmoil and unnecessary economic pain. The Fed must now do two things quickly.

Digital payments and financial transactions hold the promise of greater convenience, stronger competition, and increased savings to society. But when it comes to digital currencies, central banks – and not free-floating cryptocurrencies or stablecoins – should lead the way.

Pin It on Pinterest