This paper was prepared by Benedicte Vibe Christensen in the European Department of the International Monetary Fund under the direction of Gyorgy Szapary. It describes developments in international financial transactions conducted through the Swiss banking system until December 1985.

This paper discusses Russia’s balance of payments developments in recent years: the initial macroeconomic imbalances and systemic shocks which set the stage for the critical balance of payments difficulties Russia faced in the early 1990s; the lessons from the early phases of Russia’s...

In recent years, China has dramatically expanded its financing and foreign direct investment to Africa. This expansion has served the political and economic interests of China while providing Africa with much-needed technology and financial resources. This paper looks at China’s role in...

In recent years, China has dramatically expanded its financing and foreign direct investment to Africa. This expansion has served the political and economic interests of China while providing Africa with much-needed technology and financial resources. This paper looks at China's role in Africa...

The financial crisis that has swept through the global economy since the middle of 2007 has led to a sharp deceleration in economic growth in the emerging and frontier market economies in Africa. The record growth performance of gross domestic product of about 6 percent per annum that Africa had...

In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rate flexibility that has taken place in the developing country group since the...