Economics
Venezuela launches $150bn debt restructuring process
Government looks to rework both sovereign and national oil company’s debt
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
Rising global imbalances will be difficult to smooth out – panel
BoE’s Alan Taylor says imbalances bring financial stability risks
Carry trades explain FX response to rate hikes – BIS bulletin
Value of funding currencies surges after surprise tightening as investors unwind positions, study shows
Philippines inflation surges to 7.2%
BSP pledges response as economists say large rate hikes may be on the table
Asean+3 to prioritise digital cross-border payment co-operation
Group looking to open joint forum on tokenisation and stablecoins
Solomon Islands governor calls for reduced reliance on mining
Luke Forau urges greater focus on boosting agriculture and tourism sectors
Market highs do not reflect risks, says BoE’s Breeden
Deputy governor says risk of multiple shocks occurring at same time keeps her ‘awake at night’
Dark corners: the renewed push for risk-based monetary policy
Central banks are still struggling to perfect models, scenario analysis and risk communication
RBI optimistic on India’s ability to withstand Iran war impacts
Central bank cites strong economic fundamentals, though warns inflation could rise
Book notes: Money beyond borders, by Barry Eichengreen
Lessons from economic history indicate the dollar’s decline could result in a messy transition that spawns a global crisis
Lagarde calls for reform of IMF’s voting system
ECB president says multilateral institutions need to be ‘better aligned with what the world has become’
Lane says Blanchard’s Eurobond proposal is ‘feasible’
ECB’s chief economist calls for expanded supply of euro-denominated safe assets
Lagarde says fiscal response to energy shock must be targeted
Price caps and tax cuts must ‘preserve price signal’ or risk inflationary spiral, ECB president says
Firms slowest to adjust to Sarb’s new price target – paper
Memories of post-pandemic inflation surge linger, researchers say
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and yuan unlikely to supplant greenback, but ‘more multipolar’ system could arise
Growing global imbalances risk ‘disorderly unwinding’ – panel
Imbalances caused by unsustainable growth models and industry policy, experts say
Economic security requires alliances, not autarky – panel
Former RBA policy-maker says countries outside US need strong trade links in uncertain times
EU needs integration, innovation and Eurobonds – panel
Schnabel, Blanchard, Spain’s finance minister and Citadel MD discuss bloc’s future
Argentina reaches IMF deal unlocking $1bn
Fund says government policies will help country access capital markets on more favourable terms
NBE governor: reforms have reorientated Ethiopian economy
Country has been shifting towards a market-based system, with support from IMF