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Apr 28, 2021 The world’s reserve currency relies on oil, dictators, inequality and the military-industrial complex. But a Bitcoin standard could change this. In its growth from conceptual white paper to trillion-dollar asset, Bitcoin has attracted an enormous amount of criticism. Detractors focus on its perceived negative externalities: energy consumption, carbon footprint, lack of centralized control and inability to be regulated. Regardless of the validity of these arguments, few critics stop to think comparatively about the negative externalities of the world’s current financial sys...

The local currency – Pula depreciated by 0.9 percent against its South African counterpart – the Rand over the one-month period to February 2021. Data from the central bank – Bank of Botswana shows that during the same period, the local currency appreciated by 0.3 percent against the IMF Special Drawing Rights (SDR). A further breakdown of the figures shows that the Pula recorded a mixed performance against the SDR constituent currencies. It appreciated by 2.1 percent against the Japanese yen and 0.5 percent against both the US dollar and the Chinese yuan, while it depreciated by 1.3 pe...

From:ChinaDaily   |  2021-03-01 07:46 Amid COVID, China calls to strengthen G20's ability to thwart any global financial dangers The Chinese central bank governor has called for increasing the general allocation of the international reserve assets created by the International Monetary Fund to enhance all G20 members' ability to handle unintended global financial vulnerability amid the COVID-19 pandemic. The IMF's Special Drawing Right can be used to supplement the official reserves of G20 member countries and to cushion shocks, as recovery is uneven globally with high uncertainties and i...

We just waved goodbye to a topsy-turvy year 2020, before a volatile 2021 embraces us right ahead. And maybe in nowhere is the volatility more keenly felt than in the global financial market, which has been on a roller coaster ride since the onset of Covid-19. The first 3 months of 2020 saw