Banking

Ann Arbor (Informed Comment) – The Asian Exchange Union is not a famous international organization, but its meeting on Tuesday in Tehran may have started the ball rolling on a momentous change in global finance, since it dealt with the possibility of de-dollarization. According to the Iranian press, banking representatives from Iran, Nepal, Maldives, Pakistan, […]

Banking

$1 trillion in the Shade – the annual Profits that Multinational Corporations shift to Tax Havens continues to Soar

The Conversation

By Ludvig Wier, University of Copenhagen and Gabriel Zucman, University of California, Berkeley | – (The Conversation) – About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted in a 15-point action plan that aimed to curb practices that shielded a large chunk […]

Banking

Tackling Inflation By Rewarding the Rich Is a Fool’s Errand

Sonali Kolhatkar

By Sonali Kolhatkar | – ( Otherwords.org ) – British Prime Minister Liz Truss recently resigned after just 45 days in office, disgraced by her own economic prescriptions. There’s a lesson here for the United States, a nation beset by similar economic troubles. The main takeaway? Tackling inflation by rewarding the rich is a fool’s […]

Banking

In Turkey’s plunging Economy, Conspiracy and Corruption allegations Abound

Global Voices

By Civic Media Observatory | – ( Globalvoices.org ) – Whether on a date or at a family gathering, one topic of conversation is on everyone’s lips in Turkey: the country’s deepening economic crisis. There are several angles to the story. While Erdoğan’s government argues that the country is in an “economic war” against enemies, […]

Banking

Top 7 Ways Iran evaded US Sanctions that Putin could Follow

Juan Cole

Ann Arbor (Informed Comment) – The sorts of sanctions and boycotts the United States and its allies are placing on Russia resemble those applied by Washington to Iran off and on in the past decade, though so far the measures in place against Tehran are still far more severe than what has been done to […]

Afghanistan

US Sanctions on Afghanistan are Complicit in Mass Hunger, even as Biden withholds $3.5 bn in Afghan Money

Juan Cole

Ann Arbor (Informed Comment) – Kevin Liptak and Natasha Bertrand report at CNN that the Biden administration has decided to split the $7 billion in Afghanistan government money held in the US and confiscated last August when the Taliban took over the country. $3.5 billion will be released for humanitarian aid in Afghanistan itself, while […]

Banking

Uproar In Turkey over Gov’t Prioritizing a Name change for the Country over Sinking Economy #helloTürkiye

Arzu Geybullayeva

( Globalvoices.org ) – Turkey’s Communications Directorate launched a new campaign #helloTürkiye on January 14, in an attempt to “raise global awareness about using the country’s original name.” In a statement issued by the Presidency’s Director of Communications, Fahrettin Altun said, “We believe that it is significant to use the phrase ‘Türkiye’ in the international […]

Banking

Is the Turkish Finance Minister wrecking Economy ‘with a twinkle in his eye’?

Global Voices

By Arzu Geybullayeva ( Globalvoices.org) – Turkish Twitter-sphere was full of memes and jokes after the country’s new Minister of Treasure and Finance, Nureddin Nebati, exclaimed in a TV interview that the economy was about the “twinkle” in his eyes. The twinkle was the minister’s response to a question on economic indicators as the country […]

Banking

Turkey’s currency crisis is a textbook example of what not to do with interest rates

The Conversation

By Gulcin Ozkan | – Central banks around the globe are currently staring at inflation rates unseen in more than 20 years. Supply chain problems and labour shortages arising from the pandemic, combined with sharply rising food and energy prices, have pushed prices up by as much as 6.2% in the US, 4.2% in the […]