https://www.scmp.com/rss/508248/feed Anders Åslund is a senior fellow at the Stockholm Free World Forum. His most recent book is Russia’s Crony Capitalism: The Path from Market Economy to Kleptocracy. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Thanks to Western arms deliveries, Ukrainian forces are celebrating one battlefield victory after another. But Ukraine faces another serious threat: high inflation. It therefore needs not only arms but also more financial support. Russia’s war has inflicted enormous damage, with the Ukrainian government and the Kyiv School of Economics putting the tally of recorded material losses at US$120 billion. The country’s GDP is set to fall by 35 to 40 per cent this year, and government revenues by even... https://www.scmp.com/comment/opinion/article/3195647/how-europes-dithering-leaves-ukraine-fighting-russia-and-high?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3195647/how-europes-dithering-leaves-ukraine-fighting-russia-and-high?utm_source=rss_feed Wed, 12 Oct 2022 14:00:21 +0000 Global indebtedness has never been greater than it is today. With interest rates so low for so long, anyone who could borrow has done so. But, even with rock-bottom borrowing costs, the economic fallout from the pandemic has forced one vulnerable country after another to declare sovereign default, or to signal that it may do so soon. Worse, a major creditor to debt-distressed emerging economies, China, has little experience managing cascading sovereign defaults. On November 13, Zambia became the... https://www.scmp.com/comment/opinion/article/3114129/covid-19-thrusts-china-drivers-seat-managing-sovereign-debt?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3114129/covid-19-thrusts-china-drivers-seat-managing-sovereign-debt?utm_source=rss_feed Wed, 16 Dec 2020 14:00:16 +0000