From Reuters: Nigeria’s central bank plans to diversify its $33 billion in foreign exchange reserves away from the dollar by switching a tenth of the stockpile into yuan, underlining the momentum behind China’s drive to internationalise its currency. “We are looking at anything to start with from 5 to 10 percent of our reserves,” central… Read More »
Senegalese economist Sanou Mbaye on some of the problems French West African countries have been facing since independence: On the monetary front, the CFA Franc Zone’s member countries dismantled the federal structure that united them [French West Africa and French Central Africa] during French occupation and erected trade barriers instead. The CFA franc issued by… Read More »
From a policy brief from the United Nations University: We have already witnessed over the past year brave and even imaginative efforts by many developing countries in order to cope. Developing countries with the largest and strongest economies, such as China, India and Brazil, have shown encouraging early signs of recovery after implementing timely countercyclical policies.… Read More »