Section: Peterson Institute for International Economics (USA)
Russia’s economic prospects amid its war in Ukraine
Russia’s destructive war in Ukraine keeps transforming its own economy. We will take stock on short-term developments, depth of decoupling from the global economy and structural impact, and implications for Europe and the rest of the world. Joining this episode of Financial Statements are: HOST… …read more Source:: Peterson...
India’s wheat export ban: Bad economics, good politics, modest impact
The Indian government’s May 14 ban on wheat exports has roiled markets and been widely assailed as potentially aggravating near record-high wheat prices and shortages caused by Russia’s war in Ukraine. But in the absolute sense, the impact on traded volumes will be relatively minor, and markets—… …read more Source::...
The war in Ukraine is likely to worsen Europe’s economic problems
European policymakers must devise ways to protect consumers and businesses from economic hardship resulting from the war in Ukraine. This PIIE Chart lays out short- and long-term effects of the war, difficulties including loss of exports to Russia, the fallout of sanctions, and the humanitarian… …read more Source:: Peterson Institute...
Is the Russia-Europe energy bind about to unravel?
Faced with pressure from the West’s financial and economic sanctions and NATO support for Ukraine’s defense, Russia turned off natural gas exports to Poland and Bulgaria on April 27, ostensibly because of their refusal to pay in rubles. Despite the export cuts, Russia can stand to benefit as… …read more Source:: Peterson...
Fiscal support and monetary vigilance: Economic policy implications of the Russia-Ukraine war for the European Union
The economic shock from the war in Ukraine is forcing Europe to face difficult policy choices, according to Olivier Blanchard and Jean Pisani-Ferry. Governments must decide how best to soften the blow of higher energy and food prices, and how much to rely on debt finance. The European Central Bank… …read more Source:: Peterson...
China’s recent trade moves create outsize problems for everyone else
Russia’s war in Ukraine has taken a shocking toll on the region. It has also contributed to a global food crisis, as Russia is blocking vital fertilizer exports needed by farmers elsewhere, and Ukraine’s role as the breadbasket for Africa and the Middle East has been destroyed. But there is another… …read more Source::...
The United States should seize Russian assets for Ukraine’s reconstruction
While the brutal war for Ukraine continues to escalate, it is not too soon to think about eventually rebuilding that devastated country and how to pay for it. An obvious funding source would be the hundreds of billions of dollars in assets of the Central Bank of Russia (CBR), private Russian banks… …read more Source:: Peterson...
Sanctions, Russia’s war, and the future of trade
The Russian invasion of Ukraine is one of the worst assaults on civilians in Europe since the Second World War. Forty countries around the world, representing half of the global economy, have imposed far-reaching sanctions on Russia. What effects will the sanctions and the war have on trade… …read more Source:: Peterson Institute for...
The EU has sanctioned fewer Russian banks than the US and could do more
The European Union (EU) responded vigorously to Russian President Vladimir Putin’s invasion of Ukraine, taking steps to disrupt the Russian economy and financial system. But Europe has yet to join the United States in sanctioning Sberbank—Russia’s largest bank—and it should go even further and… …read more Source:: Peterson...
The EU should sanction Sberbank and other Russian banks as it ponders banning Russian oil and gas
The European Union (EU) had a vigorous early response to Vladimir Putin’s aggression in Ukraine, aimed at disrupting Russia’s financial system and economy. Ending EU imports of Russian hydrocarbons would be a powerful next step and is an absolute priority. But other actions can and should be taken… …read more Source::...
