Canada says Russian presence at G-20 meeting was ‘absurd’
The Finance Minister reasoned that Russia is “directly and solely” responsible for the invasion of Ukraine and its economic consequences.
Economy
Pricey ‘pecel lele’: Global inflation crisis scorches Greater Jakarta’s food stalls
Before the war, about a quarter of Indonesia's imported wheat came from Ukraine, whose ports Moscow is now blockading.
Hong Kong buys HK$6.413 billion from market to defend currency peg
The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the US dollar.
The policy mix turn: From disciplining prices to resolving stagflation
The pandemic-induced economic crisis has taught us that solely adjusting policy rates does not serve the goal of economic development.
Philippine fuel prices expected to drop for second week in a row
An expert attributed the projected rollback in local pump prices to the lockdowns in China and interest rate hikes globally.
Nepal continues import ban on 10 goods items as foreign exchange reserves dwindle
The latest restriction, till August-end, has been imposed on importing mobile sets that are priced over $300 and motorcycles with capacity over 150cc.
Weak won set to persist with US intent on more rate hikes
The breach of the 1,300 won psychological threshold is the latest indication that policymakers in Seoul have fewer tools to prevent economic shocks originating elsewhere.
G-20 finance chiefs agree to tackle food crisis
Amid the worsening food and energy crises and recession fears, the meeting in Bali saw more gestures toward collaboration among ministers and zero walkouts.
IMF warns about risks of digital currency to banks, monetary sovereignty
Digital currency has also become one of the main issues to be addressed under Indonesia’s G-20 presidency.
China’s digital yuan transactions hit 83 billion yuan
The pilot program of the digital fiat currency, or the e-CNY, has been expanded to 23 places in 15 provincial-level regions.