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Currency convertibility
Economy contradicts democracy: Russian markets explode amid political sabotage
Authors: Divyanshu Jindal and Mehek Bhanu Marwaha *
The USD (United States dollar) has been the dominant currency in the world since the end of World War II. The dollar has also been the most sought-after reserve…
IMF has role to play in Sri Lanka after framework decided: Jayasundera
ECONOMYNEXT - The International Monetary Fund (IMF) will "certainly" have a role to play in Sri Lanka's economic recovery after Covid-19, but that will be after authorities formulate the policy framework, said President…
What did Nixon do 50 years ago that still haunts us today? This is not the Watergate –…
On August 15, 1971, President Richard Nixon decreed that the US dollar would no longer be redeemable for gold owed, even to foreign governments. This bad decision was a desperate attempt to avoid the consequences of previous bad…
A new strategy for Ukraine
In the Brundtland Report, the United Nations defined sustainable development as development that meets current demands without compromising the ability of future generations to meet theirs. It is based on the assumption…
Sri Lanka’s leading scarcity-creating agency could help resume milk powder supplies
ECONOMYNEXT - Sri Lanka's Consumer Affairs Authority has blocked the entry of powdered milk into the market with its power to control prices and is expected to ease the restriction next week, which could allow imported…
Russia, China and EU push for de-dollarization: will India follow suit?
In the Brundtland Report, the United Nations defined sustainable development as development that meets current demands without compromising the ability of future generations to meet theirs. It is based on the assumption…
IFSCA in the process of creating an International Arbitration Center at GIFT IFSC
The International Financial Services Centers Authority (IFSCA) is setting up an international arbitration center within the IFSC GIFT for a swift resolution of any dispute, its president Injeti Srinivas said on Friday.
The IFSCA…
If the post-1971 monetary system is bad, why isn’t gold higher?
Second, financial markets are big supporters of the current monetary systembecause they like the lax monetary policy and the liquidity drops of the central banks. Remember, the US stock market welcomed the closing of the window on gold,…
50 years since the closing of the “golden window” (part II) – Oped – Eurasia Review
The lasting impact of the Nixon shock
The economic and monetary consequences of Nixon's decision to end the convertibility of the US dollar into gold are as numerous as they are severe. It marked the start of five decades of monetary…
Sri Lanka’s foreign exchange reserves still low despite IMF SDRs: Moody’s
ECONOMYNEXT - Sri Lanka's foreign exchange reserves are still low despite an allocation of $ 800 million in special drawing rights from the International Monetary Fund in August, Moody's, a rating agency, said.
"A…