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Development Education Featured Global World

Empowering youth with opportunities and jobs to end poverty

At the beginning of my advocacy journey, I often searched for affordable ways to present myself at events. A friend of mine had launched a small clothing business, offering creative designs that young people like me could afford. She hired a tailor to bring her ideas to life, but struggled with rent and limited capital. […]

Banking Featured Finance News World

What money will become: Seven key questions

The digital age has ushered in an era of transformation for money, triggering debates about the role of cryptocurrencies, central bank digital currencies, stablecoins, and the possible encroachment of Big Tech into the monetary system. In the midst of this upheaval, central bankers, economists, and the private sector are grappling with fundamental questions about the […]

Economy Featured News trade World

COVID-19’s economic impact on low-income countries: preparing for the next shock

COVID-19 hit low-income exporters hard, exposing risks from weak diversification and straining trade, supply systems and financial stability. The COVID-19 pandemic sent shockwaves through global supply chains as borders closed, lockdowns went into effect and demand plummeted. This shock was felt particularly by low and lower-middle income countries with economies reliant on a limited set […]

Finance Banking Economy Featured World

Prudential instruments and the recent inflationary episode

Since the Global Crisis, prudential instruments to address financial stability concerns have been enhanced and broadly adopted across countries. Using the recently updated International Banking Research Network Prudential Instrument database, this column shows that by 2023 most of the 64 countries considered have implemented most of the instruments. During the 2021-2023 inflation episode, cyclical prudential […]

Banking Economy Featured Finance World

Is Europe ready for a major banking crisis?

Europe’s banks have long been slow to integrate across borders, but this is changing fast. ‘Pan-European banks’, with activities spanning several EU countries, are emerging rapidly and are likely to enhance the overall contribution of financial services to economic growth. However, financial stability arrangements, notably banking supervision, remain nationally anchored. This creates significant risks in […]

Banking Education Featured Finance World

Liquidity crisis support made in Switzerland and the too-big-to-fail subsidy

Banking crises have repeatedly inflicted serious damage on the real economy. This column discusses a new proposal for a public liquidity backstop in Switzerland to support the orderly resolution of systemically important banks in times of crisis. While such a backstop can deliver substantial ex-post benefits, it could also encourage excessive leverage and risk ex-ante […]