India chairs the G20 group of the world's 20 most advanced economies this year.
Domestic and external debt have more than fivefold expanded globally over the last two decades, greatly surpassing global economic development.
US President Richard Nixon made history less than 52 years ago. On 15 August 1971, he decided to break the link between the US currency and gold. Nixon said on television: "I have instructed Secretary of the Treasury John Connally to temporarily suspend the convertibility of the dollar into gold. The Bretton Woods international financial system, established at the US resort of Bretton Woods, was thus rendered obsolete, as was the concept of a gold standard. The 1971 decision is known as the "Nixon shock", but the gold standard had been in decline for a long time before that.
Financial institutions anticipate that rising inflation and geopolitical tensions will continue for some time and have begun to alter their strategies appropriately. As a measure of protection against comparable restrictions imposed by the West on Russia, a growing number of countries are opting for gold repatriation. This was emphasised by the findings of an Invesco research published mid June 2023, which included more than 80 sovereign wealth funds and nearly 60 central banks. Read the details below.
Limiting global warming requires a general shift to an economy less based on fossil fuels. Not only politics plays an important role in this, but also the economy. Because in order to be able to implement the climate goals, a considerable amount of capital is also required. Sweden is one of the countries that has already taken some steps in this direction. What exactly has already been implemented, and what are the plans for the future? Read here.
At the end of June, the European Commission presented two proposals to ensure that people and businesses can continue to pay with and have access to euro notes and coins throughout the euro area and to set the framework for a digital euro that the European Central Bank may issue in the future to complement the cash euro.
One of the key factors contributing to the success of luxury brands is their strong presence in Asia. They were hit hard by the drop in tourism during the pandemic, but they are thriving again. Here are the details.
The world power is introducing export restrictions that will apply from next month.

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