The UN Trade and Development Body, UNCTAD, has called to curb the rise of cryptocurrency in developing countries, calling them unstable financial assets that cause unforeseeable risks and costs. The three newly-released policy briefs examined the risks and costs of cryptocurrencies, including the threats cryptocurrencies bring to financial stability, domestic resource mobilisation and the security of monetary systems. The document …

For the first time since 2002, the dollar and euro exchange rates were equal on the global market on Tuesday, July 12. For several months, the European currency has been quickly depreciating compared to the American dollar. Experts attribute that to the general decline of the European economy following the imposition of sanctions against Russia. Thus, in the background of a disruption in trade …

The European Central Bank (ECB) whose role is to maintain euro price stability within the Eurozone and lead European economic and monetary policy, decided to raise its interest rates from 0% to 0,5%, first since 2011, and its deposit rate, applied to cash whose banks don’t distribute as a credit, from -0,5% to 0%. Therefore, the era of negative rates …

A recession is defined as a dramatic decline in economic activity that lasts months or even years. A recession is declared when economy suffers negative GDP, rising unemployment, declining retail sales, and contracting measures of income and manufacturing over a protracted period of time. The nature and causes of recessions are both obvious and unclear. Recessions are essentially a cluster of …

On February 24, 2022, Russia initiated an undeclared war on Ukraine. The US and other nations have criticized Russia’s unprecedented military attack as “unprovoked and unjustifiable.  Members of legislatures, local governments, corporations, and the public in the United States and internationally have backed Ukraine and criticized Russia’s aggression. Hundreds of companies from the United States and other countries have withdrew, halted, or …

Due to supply chain constraints and the ongoing Russian-Ukraine war, oil prices have markedly increased around the world. In the United States (US), gas prices have reached an all-time high. Drivers, on average, had to pay $4.17 for a gallon of regular gas in March of 2022. [1] This is not the first time the US is experiencing surging oil …

The Russian Federation imported US$231.6 billion worth of goods from around the globe in 2020, up by 27% since 2016 but down by -5% from 2019 to 2020. Based on the average exchange rate for 2020, the Russian ruble has depreciated by -7.5% against the US dollar since 2016 and declined by -11.4% from 2019 to 2020, therefore, the Russian …

Inflation has been a long-term problem for Argentina with ups and downs, especially since the eighties. In 1989 a serious economic, political and social crisis began, with inflation reaching 3000% and street riots. To solve the situation, the country applied the Convertibility Policy, in which the value of the Argentine peso was brought into line with the US dollar. This …

Relations between the two nations stretch back millennia as both countries were colonized by Spain during the Age of Imperialism, the two became military allies with the governments of each nation supporting one another. An ulterior testimony of their long-lasting alliance is the fact in 1949 when Indonesia got its independence, the Philippine government immediately supported and recognized Indonesian independence, …

In September 2021, SCO launched officially the procedure to include Iran in its organization. With this new member the SCO is still expanding its territory over Asia, raising the number of inhabitants concerned directly by the organization and under the power of it, and gaining international status adding a democratic country. This diversity can be a powerful asset but also …