The Brady Initiative has led to the conclusion of several debt-relief agreements. Opinion on the effects of these agreements on the debtor countries involved vary widely. The following article aims at clarifying the debate.

Global governance refers to several pillars; one important pillar is the multilateral aid architecture. Its reform can be discussed under the perspectives of representativeness, inclusiveness, and efficiency (of aid delivery). A prerequisite for efficient aid delivery is to map the rising...

French presidential elections 2022 have significantly strengthened anti-EU populists. Traditional mainstream centrists are not among the big three election winners, while far-right Marine Le Pen deftly addressed the plight of the disengaged. The country’s rural-urban divide masks significant...

In the countries of Eastern Europe the question as to the degree of currency convertibility is among the most important decisions to be taken when setting the framework for a free market economy. This article attempts to indicate the monetary and fiscal measures that will be required if the...

Many developing countries are currently considering liberalisation of external capital flows. While the ultimate objective of financial opening is to raise efficiency and growth, the reform process must be carefully designed to achieve these results. A recent conference has discussed the policy...

Recently, the calls for closer monetary co-operation between the Asian NICs and Japan have been becoming louder. The following article discusses the pros and cons of pegging to the yen and compares them with those of a basket peg.

Die globalen Ungleichgewichte in den Leistungsbilanzen werden häufig als Bedrohung für die weltwirtschaftliche Stabilität angesehen. Ausgehend davon wird argumentiert, dass die Überschussländer wie etwa China deshalb ihre Währung aufwerten sollen, um diese stabilitätsgefährdenden...