All articles tagged with #currency stabilization
US Treasury Secretary Scott Bessent's risky intervention in Argentina's currency market has been successful, with the US recovering its investment and no longer holding Argentine pesos in its stabilization fund, though challenges remain for Argentina's economy.
Pan Gongsheng, who previously oversaw China's $3 trillion in foreign currency reserves, has been named the governor of the People's Bank of China. This appointment comes at a critical time for China as its economic recovery falters, its banking system faces bad loans, and its currency weakens. Pan's previous experience in stabilizing the renminbi during a currency plunge in 2016 may prove valuable in his new role. However, his lack of political backing within the Communist Party may pose challenges.