Summit Notebook

The Esperanto currency

July 8, 2009

Hiroshi Watanabe, president of the Japan Bank for International Cooperation, saw his share of dollar buying intervention during decades at the nation’s finance ministry.  But the market veteran says despite prevalent talk recently, a shift away from the greenback as the world’s reserve currency may be great in theory, but like the language of Esperanto short on daily practitioners.

AUDIO: Capital flight to cure what ails

September 8, 2008

pankin1.jpgSoaring oil prices have helped make Russia rich, but the flood of petrodollars means Russians face double digit price inflation. Dmitry Pankin, Russia’s deputy finance minister, sees a trade off in a recent market selloff: Russian companies might have trouble raising capital, but billions of dollars in capital outflows may be just the thing to help cool inflation.