Emerging market (EM) economies have recently come under pressure from international investors, with many EM currencies—including the Turkish lira and Argentine peso—sharply depreciating against the dollar and prices on EM financial assets experiencing steep declines.
Five years ago, President Xi Jinping unveiled the Belt and Road Initiative, a vast investment scheme designed to pave China's transition to great power status. Instead, it has become a roller coaster Beijing is struggling to control.
As an aside on the U.S. Treasury Department’s active role in sanctions policy, the official said, “Secretary Mnuchin didn’t know he had so much authority and just loves the hammer.” Treasury’s other major national security responsibility,...
Let’s hope the administration understands the limits of its high-risk tactics and is closely monitoring the potential for spillovers. Vulnerable economies may not be the only ones disciplined by financial markets.
July 30, 2018
| Mark SobelWhile the fund may have helped maintain a semblance of macroeconomic stability, the IMF’s involvement, along with the World Bank and others, has surely not helped Pakistan break out of a low-growth trap.
July 26, 2018
| Jonathan E. Hillman, Matthew P. GoodmanThe strategically located country on the Horn of Africa may gift control of the terminal to Chinese companies, which inaugurated a free trade zone in the same area earlier this month.
July 12, 2018
| Mark SobelThe Group of Twenty (G20) and the International Monetary Fund (IMF) for several years have committed to complete work on an IMF quota review by the spring of 2019 and no later than the fall of 2019.
July 12, 2018
| Mark SobelG-20 Leaders and Finance Ministers and the IMF’s policymaking International Monetary and Financial Committee (IMFC) have long reaffirmed a commitment to complete work on a quota review by the spring meetings of 2019 and no later than the fall annual meetings in 2019.