Developing Countries Need Monetary Financing

By Anis Chowdhury and Jomo Kwame SundaramSYDNEY and DAKAR, Nov 1 2022 (USNewsRank)
Developing countries have long been told to avoid borrowing from central banks (CBs) to finance government spending. Many have even legislated against CB financing of fiscal expenditure.
Central bank fiscal financing
Such laws are supposedly needed to curb inflation – below 5%, if not 2% – to accelerate growth.…