International Economics

The difference between a country’s exports and imports of goods; a core part of the current account.

A situation where a country cannot finance external payments sustainably, triggering reserve losses, currency pressure, or default risk.

Baltic Free Trade Agreement - A free trade agreement between Estonia, Latvia, and Lithuania established in 1993 and remaining in place until the three countries joined the European Union in 2004.

A South American regional development bank initiative intended to fund projects and reduce reliance on traditional multilateral lenders.

An international institution that supports central bank cooperation, monetary stability, and prudential standards.

An international bank established to aid the transition of Central and Eastern Europe and former Soviet states to market economies.

The 1992 Treaty on European Union that created the EU and set the roadmap for Economic and Monetary Union and the euro.

An approach to international economic cooperation based on common rules across many countries.

Understanding the fundamental role of quotas within the International Monetary Fund (IMF).