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January 16, 2023

Japan
The Disappearing Japanese Bid for Global Bonds

The rise in Japanese holdings of foreign bonds had an enormous impact on global markets between 2011 and 2020. The markets will now have to adapt to a sustained reduction in Japanese demand.

The Disappearing Japanese Bid for Global Bonds

February 5, 2024

Argentina
Argentina’s Struggle for Stability

Argentina has struggled with political dysfunction and financial crises for decades. What could firebrand President Javier Milei mean for Argentina’s economy and role in the world?

A supporter holds up a $100 bill sign of then President-Elect Javier Milei in December 2023.

November 16, 2023

Argentina
Argentina Election Draws Wider Attention to Embattled Economy

The country’s massive economic problems will be a vexing challenge for whoever becomes president.

People line up in front a butcher shop next to signs showing meat prices.

September 20, 2023

Infrastructure
The State of U.S. Infrastructure

The Joe Biden administration is implementing the largest federal investment in infrastructure in decades. Here’s why infrastructure matters for U.S. economic competitiveness.

Construction workers building a pedestrian bridge are viewed from above.

October 31, 2023

Latin America
What Does the Inter-American Development Bank Do?

The Inter-American Development Bank aims to bolster economic and social development in Latin America and the Caribbean, but critics say reforms are needed.

A sign promotes the IDB Board of Governors meeting in Panama City, Panama, in March 2023.

October 20, 2023

Monetary Policy
What Is the U.S. Federal Reserve?

Over the past decade, the Fed kept interest rates low while it deployed trillions of dollars in stimulus and expanded its regulatory oversight. Now, the central bank is back in the spotlight for its …

A stone bald eagle perches on the Federal Reserve building in Washington, DC.

November 21, 2023

China
China's Current Account Surplus Is Likely Much Bigger Than Reported

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

China's Current Account Surplus Is Likely Much Bigger Than Reported

December 4, 2023

Budget, Debt, and Deficits
The U.S. National Debt Dilemma

With the U.S. national debt already exceeding $16 trillion, President Trump’s tax reform and budget deals with Congress have added to the country’s deficits. CFR explores the origins of the national debt, the risks it presents, and the outlook for change.

An exterior view of the U.S. Treasury building from below

November 1, 2023

Economics
The State of Sovereign Debt Restructuring After the Meetings in Marrakech

Some fundamental problems with the IMF’s Common Framework for debt restructuring have become apparent. Not the least, debt restructuring shouldn't just be an issue for low-income countries.

The State of Sovereign Debt Restructuring After the Meetings in Marrakech

October 3, 2023

China
China Isn't Shifting Away From the Dollar or Dollar Bonds

China's reserves has shifted its dollar reserves from Treasuries to Agencies, and made increased use of offshore custodians. The available evidence suggests that it still holds about 50 percent of it…

U.S. Portfolio vs. China's Reserves and Other Foreign Assets