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Global Imbalances and the Pandemic
The International Monetary Fund’s tenth annual External Sector Report (ESR, August 2021) shows how current account deficits in the global economy widened in 2020 during the pandemic. On the other hand, the ESR also argues that overall, the misalignment between
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Rescue by Helicopter Reserves
The world woke up on Monday 23 with higher international reserves for all countries. A new allocation of US$650 billion (SDR450 billion) in Special Drawing Rights (SDRs) by the International Monetary Fund (IMF) to its member countries has entered into
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World Debt Anchor to Keep Interest Rates and Growth Low
Debt — both public and commercial — is exploding in the US, and internationally. Interest rates are being kept low by the central banks. The governments in the US and southern Europe cannot afford a rise in the rates on
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OECD: Business as Usual? Forget About That, and Prepare for Novel and Impactful Variations on a Theme
As we turn our attention towards the imperative of “building forward greener” post-pandemic, there can be no more business as usual. This was Sir Ronald Cohen’s message at the OECD Blended Finance & Impact Week in February. During his keynote
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Book Review: Numerology, Mystery, Romance… and the Development of an App
7 Unicorn Drive: From Start-up To A Billion Dollar Sale In 7 Years by Dani Polajnar This book is a sorta-kinda business guide, but it has fictional elements and a jot of mysticism thrown-in. That may not sound like an
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Otaviano Canuto: Are We on the Verge of a New Commodity Super-Cycle?
Commodity prices have recovered their 2020 losses and, in most cases, are now above pre-pandemic levels (Figure 1). The pace of Chinese growth since 2020 and the economic recovery that has accompanied vaccine rollouts are driving demand upward, while supply
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Evan Harvey, Nasdaq – SPACs and ESG: Convergence or Collision?
The capital markets love nothing more than a new idea, especially one that promises to reward a little due diligence with a lot of return. The idea of ESG (environmental, social, and governance) has tantalised investors in this way. According
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Jamie Smith: Champion of Tech that Keeps Crypto Functioning was Once in the Doubters’ Camp Herself
Jamie Smith has great enthusiasm for blockchain, the secure distributed database technology that underlies cryptocurrency major players such as Bitcoin, Litecoin and Ethereum. The former White House deputy press secretary has held senior communications positions in organisations such as the
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World Bank on COVID-19: The Road Back Must Be Green, Resilient, and Inclusive
By Axel van Trotsenburg World Bank Managing Director of Operations COVID-19 has imposed a deeper, more widespread shock than the global community has faced in many decades. The pandemic is causing illness and death, disrupting livelihoods, and potentially pushing an
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Mackenzie Scott: Giving Wealth Away
Mackenzie Scott, the third-richest woman in the world, last year started giving her wealth away. “There are lots of resources each of us can pull from our safes to share with others,” she said. “I have a disproportionate amount of
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