When Russia invaded Ukraine, the full weight of the international community’s sanctions was brought to bear to starve Moscow’s war machine. Businesses from across the economy began withdrawing their services from Russia. The payments industry was no exception. Russia, however, has been able to continue to process domestic (though not international) digital payments, thanks to its national payment system. Russia’s ability to continue to process domestic payments throughout the war will not go unnoticed.
Draghi’s downfall leaves Italy’s future in doubt By Antonio Armellini The staying power of a government led by the most internationally respected prime minister Italy has had for years finally yielded to a fragmented political system. Such are Italy’s political quirks that there are calls for a Draghi-led coalition from some of those who saluted his departure.
MEETINGS Vulnerability in the euro area Monday 12 September, Roundtable Following the latest governing council meeting, Mahmood Pradhan, former deputy director of the European department at the International Monetary Fund, joins OMFIF’s Mark Sobel to discuss the challenges the ECB faces and the instruments at its disposal.
ON DEMAND Max Castelli on reserves management in a time of uncertainty Max Castelli, head of strategy and advice, global sovereign markets, UBS Asset Management, joins Neil Williams, chief economist, OMFIF, to discuss reserves managers’ priorities and concerns for the future.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.
