Global margin call hits European debt markets

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Risk gauges in Germany’s government debt market rose last week to levels higher than recorded in the 2008 world financial crash, as margin calls forced the liquidation of derivatives positions held by banks, insurers and pension funds. Big institutional investors that spent the past ten years insuring their portfolios against falling interest rates now face […]

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How soon the Filipinos forget

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It’s been nearly six months since Ferdinand “Bongbong” Marcos Jr swept to a stunning — and to me regrettable — victory as president of the Philippines. Not enough time has passed for him to have stamped his mark on his country’s erratic history or to forecast its future. But the simple fact that a huge […]

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Tracking Sri Lanka’s tryst with the IMF

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Sri Lanka’s crisis was in the making a long time ago, and it has now reached its zenith. The civil war that ended in 2009 wreaked havoc on the country’s finances, while the 2008 financial crises added to the woes. The country’s foreign-exchange coffers were emptied while deficits continued to widen. Sri Lanka’s successive governments […]

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How IMF turned the world against the British pound

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Everyone from political pundits to people on the street have issued forth on the new UK government’s tax cut-laden growth plan recently. But it was a rare public rebuke from the International Monetary Fund (IMF) that really impacted financial markets. Days after the government made its mini-budget announcement, the IMF warned that “large and untargeted […]

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Sri Lanka’s unsustainable external debt patterns

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To a large extent, Sri Lanka’s economic crisis is an outcome of the nation’s reliance on creditor nations and multilateral agencies for managing its chronic fiscal and current-account deficits. The country’s ratio of external debt to GDP has been above 50% for a long time. The debt structure is also fragile as short-term debt and […]

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