The peg that shall not be named, and all the trouble that creates.

The Bank of Japan (BoJ) is widely expected to end yield curve control. But Japanese yields will remain low, and foreign bonds will remain attractive to those Japanese investors who don’t have to hedg…

The U.S. likes talking about the dominance of the dollar. But don’t short-change China’s current dominance of manufacturing trade. Trade imbalances need to be taken seriously again.

The IMF has two frameworks for assessing debt sustainability. The market access country framework is more technically advanced, but it isn't delivering reasonable targets for debt restructuring cases…

China’s pivot to a new strategy of indirect intervention through its large state banks requires new approaches to policing currency policies by both the U.S. Treasury and IMF.

A quick note on the debate over the use of Russia’s frozen reserves.

SDR-denominated bonds have the potential to significantly strengthen the balance sheet of both the IBRD (The World Bank) and IDA, freeing up cash and helping both institutions deliver on their mandat…

Despite sharing broadly similar policy goals, the U.S. and EU are currently struggling to find common approaches to trade in green goods. New ideas are needed.

The IMF needs to focus on China’s external account in its surveillance. The reported current account surplus appears to be significantly too low.

The multilateral development banks need to develop a second channel for mobilizing the world’s under-utilized special drawing rights (SDRs).