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In RealTime posts, PIIE senior staff and colleagues discuss the fast-moving economic news, financial developments, and public policy choices confronting the United States and the world.
On the face of it, the financial crisis of 2007-08 has helped rebalance the governance of global financial authorities, partially correcting the prior underrepresentation of emerging economies and of Asia in particular. From November 2008 to April 2009, when the G-7/G-8 was superseded by the G-20, the Financial Stability Board (FSB) was empowered and enlarged [...]
A colleague unlucky enough to have to attend reminded me that the potentially last G7 finance ministers’ meeting, or at least the last one that may matter at all, is scheduled for Iqaluit, Canada. In February. Iqaluit, which means a place of many fish in the local Inuktitut language, is according to Bloomberg home to [...]
The dollar is depreciating in eye-catching and headline-grabbing fashion. The Japanese authorities are signaling that they are prepared to intervene. The G-7 (remember them?) has the established role of coordinated intervention in major currency markets when things get out of hand. So where are they now and when will they come in?
All eyes turn to Washington this week for the annual meetings of the International Monetary Fund and the World Bank. Also in attendance will be finance ministers and central bankers from around the world (up to 185 of them, plus entourages).