Articles on international finance

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A man watches at an exchange office sign showing the currency exchange rates of the Russian ruble, U.S. dollar, and euro in Moscow, Russia, in November 2024. (AP Photo/Pavel Bednyakov)

Can countries replace SWIFT? Evidence from Russia suggests not easily

Cut off from the world’s main financial messaging system, Russia turned to a domestic alternative. But research shows it fell far short of replacing the global financial network.
China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency. peng song/Moment Collection/Getty Images

War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency – and be a serious contender against the US dollar

Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
Developing countries are calling for more funding and for changes at the World Bank. Sean Gallup/Getty Images

4 signs of progress at the UN climate change summit

The biggest issues at COP27 involve financing for low-income countries hit hard by climate change. A former World Bank official describes some promising signs she’s starting to see.

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