[theold]

"The dollar suffered a stunning collapse in 2022 in its market share as a reserve currency, presumably due to its muscular use of sanctions," Jen and Freire wrote. "Exceptional actions taken by the US and its allies against Russia have startled large reserve-holding countries," most of which are emerging economies from the so-called Global South, they said.

Separately, Britain was the only country in Western Europe with double-digit inflation in March after it fell less than expected to 10.1 percent from February's 10.4 percent, official data showed yesterday. But that was well above the 9.8 percent forecast by economists.

https://www.thestandard.com.hk/section-n...n-expected'