May 21, 2018Argentina
Probably only connoisseurs of IMF Access Policy debates understand the importance of being judged “sustainable with a high probability” by 19th Street. That’s what unlocks the keys to the kingdom,…
May 16, 2018Argentina
The IMF’s reserve metric tends to overstate the reserve needs of current account surplus countries with little external debt, and understates the reserve needs of current account deficit countries wi…
January 3, 2018China
The ECB has almost certainly had a bigger impact on U.S. rates over the last three years than the PBOC, without buying (or selling) any Treasuries.
May 8, 2018China
China's current account surplus is almost certainly about $100 billion larger than officially reported, and the falling current account surplus masks a persistent manufacturing surplus.
May 1, 2018Taiwan
The strange case of Taiwan and its life insurance industry.
July 26, 2017Puerto Rico
Puerto Rico’s Oversight Board didn’t object to the terms of Puerto Rico’s proposed restructuring of the Government Development Bank bonds (and selected deposits) so it looks like the GDB restructurin…