Debts

A Good but Incomplete Start to Debt Relief

2020-11-25

After initially responding to the pandemic induced economic crisis with an initiative to postpone developing countries debt payments, the G20 has now come back to the table to offer a more plausible solution. But the new common framework for....

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Capitalism isn't working anymore. Here's how the pandemic could change it forever

2020-10-20

Capitalism is in crisis. The pandemic could change it forever, in favor of workers and those in greatest need.

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The Coming Equity Shortage

2020-10-13

Firms that manage to survive until an effective COVID-19 vaccine is widely available will have a bright future but weak balance sheets. Innovative new private-equity funds, modeled on US special-purpose acquisition companies, could provide much-needed cap

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A Stronger Recovery Through Better Accounting

2020-07-01

Given that the COVID-19 crisis demands unprecedented levels of stimulus spending, policymakers should use the occasion to adopt a more flexible form...

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Preventing an Emerging-Market Meltdown

2020-06-11

Emerging markets today account for more than two-fifths of global GDP measured at market exchange rates, and nearly three-fifths after adjusting for differences in purchasing power.

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What Should We Be Preparing For?

2020-05-30

In most emerging and developing countries, COVID-19 is causing an economic hurricane. It looks increasingly like a Category 5, but the international community and many national governments prepared for a tropical storm.

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The Case for Deeply Negative Interest Rates

2020-05-13

Only monetary policy addresses credit throughout the economy. Until inflation and real interest rates rise from the grave, only a policy of effective deep negative interest rates, backed up by measures to prevent cash hoarding by financial firms, can do t

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Argentina Must Not Waste Its Crisis

2019-10-26

To explain Argentinas chronic instability and episodic illiquidity, one must look beyond idiosyncratic leaders, temporary external shocks, and specific policy mistakes.

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No Country for Poor Men: How Lebanon’s Debt Has Exacerbated Inequality

2019-10-13

After Lebanons civil war ended in 1990, it began rapidly expanding the public debt. This debt has exacerbated widening socioeconomic inequalities, now threatening the countrys stability.

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Four Collision Courses for the Global Economy

2019-09-28

Between US President Donald Trumps zero-sum disputes with China and Iran, UK Prime Minister Boris Johnsons brinkmanship with Parliament and the European Union

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$250 Trillion in Debt: the World’s Post-Lehman Legacy

2018-10-06

Governments are largely responsible for the borrowing binge, with their debt growing not just nominally...

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The Quiet Demise of Austerity

2017-07-19

There is no mistaking which side won and why. Austerity is dead

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