News stories by Jomo Kwame Sundaram, page 12

SYDNEY and DAKAR, Nov 01 (IPS) - Developing countries have long been told to avoid borrowing from central banks (CBs) to finance government spending. Many have even legislated against CB financing of fiscal expenditure.

SYDNEY and KUALA LUMPUR, Oct 25 (IPS) - Widespread adverse reactions to the UK government’s recent ‘mini-budget’ forced new Prime Minister Liz Truss to resign. The episode highlighted problems of macroeconomic policy coordination and the interests involved.

SYDNEY and KUALA LUMPUR, Oct 18 (IPS) - Preoccupied with enhancing their own ‘credibility’ and reputations, central banks (CBs) are again driving the world economy into recession, financial turmoil and debt crises.

SYDNEY and KUALA LUMPUR, Oct 10 (IPS) - The dogmatic obsession with and focus on fighting inflation in rich countries are pushing the world economy into recession, with many dire consequences, especially for poorer countries. This phobia is due to myths shared by most central bankers.

SYDNEY and KUALA LUMPUR, Oct 04 (IPS) - Central banks (CBs) around the world – led by the US Fed, European Central Bank and Bank of England – are raising interest rates, ostensibly to check inflation. The ensuing race to the bottom is hastening world economic recession.

SYDNEY and KUALA LUMPUR, Sep 27 (IPS) - Inflation phobia among central banks (CBs) is dragging economies into recession and debt crises. Their dogmatic beliefs prevent them from doing right. Instead, they take their cues from Washington: the US Fed, Treasury and Bretton Woods institutions (BWIs).

SYDNEY and KUALA LUMPUR, Sep 20 (IPS) - Policymakers have become obsessed with achieving low inflation. Many central banks adopt inflation targeting (IT) monetary policy (MP) frameworks in various ways. Some have mandates to keep inflation at 2% over the medium term. Many believe this ensures sustained long-term prosperity.

SYDNEY and KUALA LUMPUR, Sep 13 (IPS) - After a quarter century of economic stagnation, African economic recovery early in the 21st century was under great pressure even before the pandemic, due to new trade arrangements, falling commodity prices and severe environmental stress.

SYDNEY and KUALA LUMPUR, Sep 06 (IPS) - As rich countries raise interest rates in double-edged efforts to address inflation, developing countries are struggling to cope with slowdowns, inflation, higher interest rates and other costs, plus growing debt distress.

SYDNEY and KUALA LUMPUR, Aug 30 (IPS) - Most sub-Saharan African French colonies got formal independence in the 1960s. But their economies have progressed little, leaving most people in poverty, and generally worse off than in other post-colonial African economies.