On January 25, the IMF downgraded its global GDP growth forecast for 2022 by 0.8% to 4.4%. We should not be surprised by further downgrades. Goldman Sachs’s Russia economist estimates a record current account surplus of $205 billion in 2022 … Continue reading →

We face some very clear and present dangers that call for extraordinary decisions, none graver than the war set off by Russia’s invasion of Ukraine. Only a few weeks ago, EU politicians expected a diplomatic solution. But now the war … Continue reading →