Business Maverick: Global finance chiefs head to Bali to talk inflation, debt and oil

With limited external buffers and depleted foreign currency reserves, lower-income nations are struggling to beat back inflation as unsettled populations stoke political tension. Investors are turning increasingly cautious, pulling money out and in turn accelerating those economies’ stresses.

The yawning emerging market-developed market divide will be a talking point among the multilateral development bank representatives.

that’s unlikely to garner enough backing, while US President Joe Biden this week will be in Saudi Arabia to pitch for a production boost. A senior US Treasury official speaking to reporters in Tokyo on Tuesday said blocking exports of Russian petroleum through the insurance ban without a price-cap exception would increase the global price of oil significantly, possibly to about $140 a barrel. It’s currently just above $100 a barrel.the proposal, but the plan is seen as practically and politically complex. It would require unanimous support within the EU to enact legal changes. Agreeing on a price level would also be fraught.

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