On 30 November 2015 the IMF voted to include the RMB (the Chinese “people’s currency” denominated in yuan) in the basket of currencies it uses to calculate the value of the Special Drawing Rights, from October 2016. This is largely … Continued
Greece this week repaid €750m to the International Monetary Fund (IMF) which it funded by drawing on its SDR account at the IMF. This legitimate but unusual move caught many commentators by surprise and drew attention to the little known … Continued
The International Monetary Fund (IMF) is a great example of an institution that was created for one purpose – to police the system of fixed exchange rates set up in the 1944 Bretton Woods treaty – which has survived and … Continued
The leader of one of our main international financial institutions argues that we need to remember and learn from the cooperative spirit in which the Bretton Woods international financial system was born in 1944. Unfortunately the creation and later success … Continued
In a recent IMF working paper I came across the term “North Atlantic financial crisis”. I hadn’t heard this before and it was the first clue of several that the report was written by Indian economists with a well justified … Continued