UK Borrowed Foreign Currency from the IMF in 1976
The much vaunted IMF crisis in the UK was because the government violated an MMT golden rule: government must not borrow in a foreign currency
Exports
Anatomy of an FX Transaction
How exactly does an FX transaction works in a floating currency rate environment? Read on to find out
It's the Exporters Stupid
Running an external surplus requires exporters to export. The right to export more than you import has a price. What does that mean on the other side of the trade?
Savings Are an Export Product
Things make a lot more sense when you realise other currency areas love your savings products — a lot