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Big money reigns, small money gains - but who will fix the International Monetary System?
Full text linkThe evolution of the international monetary system towards a more multipolar configuration is not only reflective of fundamentals but of increasing fragilities and uncertainty. In this paper, we map the trajectories of the Big Four (EUR, GBP, JPY, USD) and secondary currencies (AUD, CAD,CHF, CNY) in the past decade and argue that the system is increasingly ill-adapted to the reconfiguration of the global economy, bringing to the forefront the need for a reliable alternative international reserve asset
The myth of the cashless economy
Full text linkAnalyzing the challenges related to achieving a cashless economy in countries with high levels of socio-economic inequalit
Time for Gulf economies to rethink the dollar peg
Full text linkA critical look at whether the peg to the dollar continues to be an optimal exchange rate choice for the Gulf Cooperation Council (GCC) states
Capturing the state: A political economy of Lebanon's public debt crisis 1992-2004
Full text linkIn 1993, the year the government of Prime Minister Rafiq Hariri, launched its post-war reconstruction program financed by domestic borrowing, Lebanon's public debt stood at LL 6,650
billion (34.8 billion), equivalent to
185 percent of GOP, one of the highest public debt-to-GDP ratios in the world. The foreign currency component of this debt now represented 52.7 percent of the total, making Lebanon more
vulnerable to a debt crisis as those witnessed in Latin American in the 1980s, which had forced these countries into structural adjustment. The same year World Bank Vice President Fran~ois
Bourguignon warned that Lebanon's situation was "totally unsustainable," and pressed the government to make progress on structural reforms and privatization. 1 For the first time in its
modem history, Lebanon - one of the economic success stories of the Middle East before the 1975 - 1990 civil war - was on the verge of a full blown debt crisis and increasingly at the mercy of its foreign creditors and the Bretton Woods institutions
Big money reigns, small money gains - but who will fix the International Monetary System?
Full text linkThe evolution of the international monetary system towards a more multipolar configuration is not only reflective of fundamentals but of increasing fragilities and uncertainty. In this paper, we map the trajectories of the Big Four (EUR, GBP, JPY, USD) and secondary currencies (AUD, CAD,CHF, CNY) in the past decade and argue that the system is increasingly ill-adapted to the reconfiguration of the global economy, bringing to the forefront the need for a reliable alternative international reserve asset
Time for Gulf economies to rethink the dollar peg
Full text linkA critical look at whether the peg to the dollar continues to be an optimal exchange rate choice for the Gulf Cooperation Council (GCC) states
The myth of the cashless economy
Full text linkAnalyzing the challenges related to achieving a cashless economy in countries with high levels of socio-economic inequalit
Central banks respond to decline in cash
Full text linkDiscusses digital payments, the decline of cash and its implications for cryptos and central bank digital currencies
Central banks respond to decline in cash
Full text linkDiscusses digital payments, the decline of cash and its implications for cryptos and central bank digital currencies
The international monetary system: Toward a more multipolar configuration?
No full textThe international monetary system is evolving toward a more multipolar configuration, with the transition being driven as much by fundamentals as by increasing uncertainty at the heart of the system. In this chapter we assess the trajectories of the “big four” (EUR, GBP, JPY, USD) and secondary currencies (AUD, CAD, CHF, CNY) in the past decade and find that the system is increasingly ill-adapted to the reconfiguration of the global economy, bringing to the forefront the need for a reliable alternative international reserve asset that can supplement traditional reserves in euro, pound, yen and US dollar
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