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International Finance

All articles tagged with #international finance

world1 day ago

Treasury Chief Reaffirms U.S.-Japan Alliance and Critical Minerals Sovereignty

Secretary of the Treasury Scott Bessent met with Japan's Finance Minister Satsuki Katayama on January 12 to thank Japan for attending the critical minerals summit, reaffirm the importance of critical minerals sovereignty among democracies, express strong confidence in the US-Japan alliance, and acknowledge Japan's constructive engagement on OECD global minimum tax issues, while noting the need for sound formulation and communication of monetary policy and avoiding exchange-rate volatility.

via U.S. Department of the Treasury (.gov)|
#critical-minerals#international-finance#monetary-policy
world6 months ago

BRICS Emerges as a Global Counterbalance to US Policies

BRICS, a coalition of Brazil, Russia, India, China, and South Africa, has expanded to include new members like Iran, UAE, Ethiopia, Egypt, and Indonesia, aiming to boost its economic influence and challenge US dominance, with initiatives like a shared reserve fund and the New Development Bank. The group promotes multipolarity and has diverse political stances, with its expansion driven mainly by China to increase global clout, though its economic impact is currently limited by geopolitical tensions and differing member trajectories.

via Bloomberg|
#brics#expansion#global-economy
economics7 months ago

Federal Reserve Chair Powell's Speech Sparks Market Anticipation

Chair Powell commemorates the 75th anniversary of the Federal Reserve's Division of International Finance, highlighting its crucial role in understanding global economic developments, responding to financial crises, and supporting U.S. monetary policy through research, modeling, and international cooperation, while paying tribute to the division's notable alumni and its late Vice Chair Stanley Fischer.

via Federal Reserve Board (.gov)|
#economics#federal-reserve#global-economy
international-finance2 years ago

"Potential Seizure of Russian Assets Could Shift $300 Billion to Aid Ukraine"

Russia's RIA news agency reported that the West could lose at least $288 billion in assets and investments if it seized frozen Russian assets to aid in Ukraine's reconstruction, following the blocking of around $300 billion of sovereign Russian assets in the West. Efforts to confiscate Russian assets immobilized in Europe are being pursued, with the U.S. and British officials aiming to garner support from G7 leaders. The data cited by RIA showed that the EU, G7 nations, Australia, and Switzerland had a total of $288 billion in direct investments in the Russian economy, with EU nations holding the majority of these assets.

via Reuters.com|
#confiscation#international-finance#investments
finance2 years ago

China's Belt and Road: From Dedollarization to Global Influence

China signed a series of yuan-denominated loans at the Belt and Road Initiative forum, marking a shift away from the US dollar and accelerating efforts to de-dollarize global finance. The loans, signed by China's policy banks, included agreements with Malaysia's Maybank, Egypt's central bank, BBVA Peru, and Saudi National Bank. China also allocated an additional 80 billion yuan ($10.94 billion) for its Silk Road Fund. These moves align with China's goal to internationalize the yuan and reduce reliance on the dollar, as evidenced by the increasing use of the yuan in international payments and the establishment of currency swap agreements and yuan-clearing arrangements with partner countries.

via Markets Insider|
#belt-and-road-initiative#china#de-dollarization