Having had little time to absorb the economic and social shock of the COVID-19 pandemic, the European Union is confronted with staggering increases in the cost of living. While household burdens vary significantly across and within countries, most European countries are struggling to cushion the...

The system of multiple exchange rates thus has serious disadvantages, which become even graver in some developing countries where there is a combination of several unfavourable factors. Such factors are: Inflation, insufficient savings, irrational behaviour on the part of private economic...