Solve dollar riddle with price-adjusted swaps

Countries caught in a dollar trap should demand that the United States swaps nominal treasury bills for inflation-adjusted instruments, two prominent economists have argued.

Domingo Cavallo, a member of the Group of Thirty and a former chairman of the Central Bank of Argentina, and Joaquin Cottani, a former chief economist of the Mexico and Colombia department at the World Bank, have said that requiring America to exchange nominal bonds for their inflation-adjusted counterparts would serve to

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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