External Sector

How the new payment process for gas in Russia will work, including how it is settled at the Moscow Exchange, all of which leads to some interesting observations

Journalists really should take some time to learn how correspondent banking works

In all international transactions they consumer pays with the currency they have and the producer gets the currency they want to hold. So why the big fuss over Russia’s requirement to receive Roubles?

Russia has easily countered the attempts at financial sanctions, resulting in some interesting outcomes that further confirm the view taken by Modern Monetary Theory

Electronic impulses on computers only stop tanks in Call of Duty. War is not a game, and stopping it will require rather more than attempts at financial alchemy

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

How exactly does an FX transaction works in a floating currency rate environment? Read on to find out

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?

Things make a lot more sense when you realise other currency areas love your savings products — a lot