THE NEED FOR LOCAL CURRENCY Actors of the real economy usually require their local currency for doing business. This basically applies to most countries and all different kind of sectors, but especially to households and micro entrepreneurs in developing countries…

THE ROLE OF FINANCE IN DEVELOPMENT Appropriate financing for small and medium sized enterprises (SMEs) at national scales provides the “blood stream” that irrigates large corporations with raw materials and clients. In turn, demand and supply from corporations creates the…

INTRODUCTION There seem to be rather good crash barriers on each side of the investment path for fixed income investors in developed markets as there are two very basic idioms: “Don’t fight the central bank” and “bad news is good…