Internal balance-of-payment crises should be taken as a strong signal of weakness and a wake-up call to reform euro area structures The single currency was expected to make the balance of payments irrelevant between the euro-area member states. This benign view has been challenged by recent developments, especially as imbalances between euro-area central banks have […]
How states leverage sovereign debt to support their military endeavours has been examined thoroughly, but the relationship between private finance and armed conflict remains underexplored. Using data on loans by creditors to firms in 179 countries over 1989–2020, this column documents how foreign banks reduce overall lending relative to domestic banks during violent conflicts but […]
Nearly 20 years have passed since the EU and India started negotiations on a bilateral trade and investment agreement. After seven years of intense negotiations, the process stalled in 2014, primarily because of the failure of the respective political leaders to make difficult choices. Talks restarted in 2022 and now offer a reasonable chance of […]
South Asia is grappling with significant fiscal challenges that affect its governments’ ability to provide essential public services. Although its tax rates are often higher than average, the region struggles with low tax revenues. This blog explores the reasons behind these low revenues and discusses potential solutions to bridge the revenue gap and strengthen South […]
