Kevin Carey
@kevincareywb.bsky.social
World Bank
Macro / Climate
Opinions are mine and not WB
X: Kevin_Carey_WB
Macro / Climate
Opinions are mine and not WB
X: Kevin_Carey_WB
(via regulatory announcement to Irish Stock Exchange)
December 9, 2025 at 5:30 PM
(via regulatory announcement to Irish Stock Exchange)
Ukraine / amended conditions of the tender offer related to the GDP warrants (reflecting outcome of negotiations with the ad hoc creditors committee). Complex non-financial terms added related to comparability of treatment, loss reinstatement, and transparency ...
December 9, 2025 at 5:30 PM
Ukraine / amended conditions of the tender offer related to the GDP warrants (reflecting outcome of negotiations with the ad hoc creditors committee). Complex non-financial terms added related to comparability of treatment, loss reinstatement, and transparency ...
Usually fairly tolerant as I scroll past the somewhat aspirational names for the many special purpose vehicles listed on various securities exchanges but had to pause at "Magritte CMBS NV/SA" on Irish Stock Exchange regulatory news list. The great man would surely have had views on this usage.
December 9, 2025 at 2:06 PM
Usually fairly tolerant as I scroll past the somewhat aspirational names for the many special purpose vehicles listed on various securities exchanges but had to pause at "Magritte CMBS NV/SA" on Irish Stock Exchange regulatory news list. The great man would surely have had views on this usage.
United Arab Emirates / IMF Article IV staff report. From the external sector assessment, an implicit striking fact: economy has experienced huge oil price volatility, continuous appreciation pressure (via the US$ peg) and the real exchange rate has ... barely moved. Classic example ...
December 9, 2025 at 2:25 AM
United Arab Emirates / IMF Article IV staff report. From the external sector assessment, an implicit striking fact: economy has experienced huge oil price volatility, continuous appreciation pressure (via the US$ peg) and the real exchange rate has ... barely moved. Classic example ...
Botswana / IMF 2025 Article IV staff report. If one was making a list of incipient crisis symptoms, this set of factors would likely be on it. www.imf.org/en/publicati...
December 8, 2025 at 5:54 PM
Botswana / IMF 2025 Article IV staff report. If one was making a list of incipient crisis symptoms, this set of factors would likely be on it. www.imf.org/en/publicati...
It's a lively few days for the IMF Board calendar. The item for the Sri Lanka program review on the 15th has been removed, and I wonder if this Yemen item will last given reports today from Aden that much of the Internationally Recognized Government has left.
December 6, 2025 at 10:24 PM
It's a lively few days for the IMF Board calendar. The item for the Sri Lanka program review on the 15th has been removed, and I wonder if this Yemen item will last given reports today from Aden that much of the Internationally Recognized Government has left.
Sri Lanka / IMF statement: "The Sri Lankan authorities have requested financial assistance from the IMF under the Rapid Financing Instrument (RFI) for SDR 150.5 million (approximately 26 percent of quota or about US$200 million) ..."
December 5, 2025 at 2:27 PM
Sri Lanka / IMF statement: "The Sri Lankan authorities have requested financial assistance from the IMF under the Rapid Financing Instrument (RFI) for SDR 150.5 million (approximately 26 percent of quota or about US$200 million) ..."
Sometimes the old ways are the best ... Excel spreadsheet of the change in SDR Holdings of Argentina & USA for the most recent 2 months. The offsetting transactions for October did not repeat in November; Argentina is back to almost no holdings. [link to pull this data www.imf.org/external/np/...
December 5, 2025 at 1:35 PM
Sometimes the old ways are the best ... Excel spreadsheet of the change in SDR Holdings of Argentina & USA for the most recent 2 months. The offsetting transactions for October did not repeat in November; Argentina is back to almost no holdings. [link to pull this data www.imf.org/external/np/...
Marshall Islands / IMF Art IV staff report. Topic is USDM1, a collateralized and tolkenized security that unlike a stablecoin would pay interest ... www.imf.org/en/publicati...
December 4, 2025 at 6:13 PM
Marshall Islands / IMF Art IV staff report. Topic is USDM1, a collateralized and tolkenized security that unlike a stablecoin would pay interest ... www.imf.org/en/publicati...
Algeria / World Bank Economic Update with thematic chapter on climate challenges. Deficit financing closely tied to the banking system, both central & commercial banks. www.worldbank.org/en/news/pres...
December 4, 2025 at 1:46 PM
Algeria / World Bank Economic Update with thematic chapter on climate challenges. Deficit financing closely tied to the banking system, both central & commercial banks. www.worldbank.org/en/news/pres...
World Bank International Debt Report 2025. Important point about the increase in variable rate debt interest payments of low and middle income countries, starting in 2022. www.worldbank.org/en/programs/...
December 3, 2025 at 4:01 PM
World Bank International Debt Report 2025. Important point about the increase in variable rate debt interest payments of low and middle income countries, starting in 2022. www.worldbank.org/en/programs/...
Cambodia / IMF Article IV staff report. A striking feature of public debt: there is almost no domestic public debt, although rapid growth in issuance (from the small base) is envisaged. www.imf.org/en/publicati...
December 3, 2025 at 1:57 PM
Cambodia / IMF Article IV staff report. A striking feature of public debt: there is almost no domestic public debt, although rapid growth in issuance (from the small base) is envisaged. www.imf.org/en/publicati...
Ukraine / launch of exchange offer for the $3.24bn GDP-linked bonds, along with proposal for amendments to the securities. Negotiations continuing in parallel on unresolved issues with the bondholders. (via regulatory announcement to Irish Stock Exchange).
December 1, 2025 at 6:12 PM
Ukraine / launch of exchange offer for the $3.24bn GDP-linked bonds, along with proposal for amendments to the securities. Negotiations continuing in parallel on unresolved issues with the bondholders. (via regulatory announcement to Irish Stock Exchange).
Joint report by Bloomberg NEF, Dubai Financial Services Authority, Hong Kong Monetary Authority on EM sustainable finance instruments in MENA & Asia Pacific. A basic takeaway: labeled debt in the two regions heavily skewed towards USD issuance (link at end of this page): www.dfsa.ae/news/dfsa-an...
November 28, 2025 at 9:37 PM
Joint report by Bloomberg NEF, Dubai Financial Services Authority, Hong Kong Monetary Authority on EM sustainable finance instruments in MENA & Asia Pacific. A basic takeaway: labeled debt in the two regions heavily skewed towards USD issuance (link at end of this page): www.dfsa.ae/news/dfsa-an...
Tunisia / WB Economic Update with special topic of non-contributory social assistance program. Key elements of macro storyline: role of the "offshore" mechanical & electrical industry in sustaining the current account + increased reliance on domestic debt.
www.worldbank.org/en/news/pres...
www.worldbank.org/en/news/pres...
November 26, 2025 at 3:02 PM
Tunisia / WB Economic Update with special topic of non-contributory social assistance program. Key elements of macro storyline: role of the "offshore" mechanical & electrical industry in sustaining the current account + increased reliance on domestic debt.
www.worldbank.org/en/news/pres...
www.worldbank.org/en/news/pres...
Albania / WB Public Finance Review. Report uses the Total Carbon Price approach -- the combined effects of all taxes on the implicit price of carbon. Big finding is differentially low tax on coal compared to other fossil fuels. www.worldbank.org/en/country/a...
November 21, 2025 at 1:45 PM
Albania / WB Public Finance Review. Report uses the Total Carbon Price approach -- the combined effects of all taxes on the implicit price of carbon. Big finding is differentially low tax on coal compared to other fossil fuels. www.worldbank.org/en/country/a...
Jordan / prospectus for the new 2032 Eurobond. I was reading this section below for an update on the status of the government's dispute with the Attarat oil shale project consortium and the lack of mention of such a dispute led me to ... www.rns-pdf.londonstockexchange.com/rns/4156I_1-...
November 20, 2025 at 4:03 PM
Jordan / prospectus for the new 2032 Eurobond. I was reading this section below for an update on the status of the government's dispute with the Attarat oil shale project consortium and the lack of mention of such a dispute led me to ... www.rns-pdf.londonstockexchange.com/rns/4156I_1-...
Brilliant chart from paper being presented at IMF 13th Statistical Forum by Robert Zymek (IMF Research Department), "Bilateral Trade in Services: Insights from a New Database," showing how the trade networks differ between goods and services according to the new data. www.imf.org/en/news/semi...
November 19, 2025 at 9:01 PM
Brilliant chart from paper being presented at IMF 13th Statistical Forum by Robert Zymek (IMF Research Department), "Bilateral Trade in Services: Insights from a New Database," showing how the trade networks differ between goods and services according to the new data. www.imf.org/en/news/semi...
When the Friday news dump is lowered tariffs on vanilla, herbs and spices ... www.whitehouse.gov/wp-content/u...
November 14, 2025 at 10:17 PM
When the Friday news dump is lowered tariffs on vanilla, herbs and spices ... www.whitehouse.gov/wp-content/u...
Impressive economics job market paper from Hannah Rhodenhiser (Boston Univ): what would happen if a Payment for Ecosystem Services (PES) program was taken to macro scale? Multiple general equilibrium effects, related to price impacts and duration of gains ...
November 14, 2025 at 5:31 PM
Impressive economics job market paper from Hannah Rhodenhiser (Boston Univ): what would happen if a Payment for Ecosystem Services (PES) program was taken to macro scale? Multiple general equilibrium effects, related to price impacts and duration of gains ...
In light of the focus on gold purchases by central banks, important window to developments from the World Bank Treasury Reserve Management Survey Report 2025; survey response picks up reported increase in #gold holdings, but ...
November 13, 2025 at 7:27 PM
In light of the focus on gold purchases by central banks, important window to developments from the World Bank Treasury Reserve Management Survey Report 2025; survey response picks up reported increase in #gold holdings, but ...
NBER International Trade & Investment Program meeting November 21-22. Paper on the 22nd (Saturday) Unbalanced Financial Globalization by Damien Capelle (IMF) & Bruno Pellegrino (Columbia). Calculates de facto capital account openness, showing asymmetry in trend of openness ...
November 13, 2025 at 7:08 PM
NBER International Trade & Investment Program meeting November 21-22. Paper on the 22nd (Saturday) Unbalanced Financial Globalization by Damien Capelle (IMF) & Bruno Pellegrino (Columbia). Calculates de facto capital account openness, showing asymmetry in trend of openness ...
Policymakers (& advice providers like the WB!) wrestle with the persistence of fuel subsidies & political constraint of fuel subsidy reform. Hence relevance of #EconJobMarket #JMP by Johanna Rayl (Northwestern, joint with Budy Resosudarmo, ANU); models choice between targeted ...
November 12, 2025 at 1:36 PM
Policymakers (& advice providers like the WB!) wrestle with the persistence of fuel subsidies & political constraint of fuel subsidy reform. Hence relevance of #EconJobMarket #JMP by Johanna Rayl (Northwestern, joint with Budy Resosudarmo, ANU); models choice between targeted ...
With #COP30 focused on adaptation (& associated risk of maladaptation), extra timely #EconJobMarket #JMP from
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
November 11, 2025 at 8:27 PM
With #COP30 focused on adaptation (& associated risk of maladaptation), extra timely #EconJobMarket #JMP from
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Georgia / WB Country Climate & Development Report. One of several CCDRs using impressive jobs network / node analytics to explicate current & prospective job market along key characteristics. Job market currently highly segmented and not very digital or green. documents.worldbank.org/en/publicati...
November 11, 2025 at 7:47 PM
Georgia / WB Country Climate & Development Report. One of several CCDRs using impressive jobs network / node analytics to explicate current & prospective job market along key characteristics. Job market currently highly segmented and not very digital or green. documents.worldbank.org/en/publicati...