Selected Tag: sovereign debt
Selected Tag: sovereign debt

Are Central Banks Enabling Unsustainable Government Deficits?

Recent developments suggest that the US Federal Reserve's bond purchases are no longer just a "monetary operation," but an essential component of the US government's fiscal financing. The sooner that the Fed and other similarly situated central banks recognise the trap they have created for themselves, the better.

Raghuram Rajan

January 12, 2026 at 1:50 PM IST

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Building an Effective Sovereign Borrowers' Club

While creditor coordination has long been institutionalized – through the Paris Club, the London Club, and industry-led efforts such as the Institute of International Finance – borrower countries have often been discouraged from sharing information, leading to ad hoc exchanges.

Homi Kharas and Mahmoud Mohieldin

December 12, 2025 at 4:12 AM IST

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