Showing posts for "International Institutions"
IMF lending capacity as a percent of cross border bank lending to developing countries has declined steadily over the past three decades. The global economic crisis has revealed the need for more funds. In response, G20 leaders agreed to increase the IMF’s lending capacity by $750 billion. Read more »
G20 leaders are meeting in Washington to discuss a possible overhaul of global finance. One topic on the agenda is whether to increase the resources of the IMF, which stood at $201 billion at the end of August. However, many underrepresented emerging market countries, such as China, would be wary of such a move without a shift in the power structure. The following articles tackle the agenda of the upcoming G20 meeting. Read more »
The G7 has expressed concern over the implications of excessive yen volatility for financial and economic stability, but fell short of promising coordinated action. The graph above illustrates the extreme nature of the yen’s rise. For example, the yen has appreciated 22% against the euro and 35% against the Aussie dollar in the last month alone. The G7 may have to intervene in foreign currency markets to restore stability. Read more »
The financial crisis has forced the IMF back onto the world stage. As the chart below indicates, many countries’ bank debt to GDP ratio has exploded in the past five years, suggesting they may need assistance rolling over their loans. The IMF has rediscovered its mission as evidenced by the number of countries considering assistance. The following articles discuss the revival of the IMF and suggest possible reforms. Read more »
The Federal Reserve has announced a series of extraordinary measures to unclog credit markets. However, credit markets remain frozen, and as the graph above indicates, the equity markets have responded negatively. The continued credit market freeze points to a need for strong policy action. The following articles discuss a possible role for international coordination through the G7 and IMF. Read more »
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Benn’s new book The Battle of Bretton Woods has been called “the gold standard on its topic” by the New…
The Governing Council of the European Central Bank meets on May 2, with a possible rate cut in the offing….
Paul Krugman recently dismissed concerns about America’s large international debt. “America’s debtor position,” he writes, “isn’t actually that deep, because…
Prominent economic commentators have argued the cases for significantly weaker currencies in each of the world’s major economies – in…
European Central Bank president Mario Draghi has promised to do “whatever it takes to preserve the euro,” and the bank’s…
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