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Former International Monetary Fund Chief Economist Maurice Obstfeld has advised Japan to strengthen its cooperation with Asian and European countries, given disruptions to the global economic and financial order caused by U.S. policies, the Japan Times reported. In a recent interview with Jiji Press, Obstfeld expressed concern that U.S. President Donald Trump's administration has taken policy measures, including high tariffs and tax laws, that expand the federal debt and unpredictability, thereby undermining confidence in the dollar.

In Bolivia these days, just about anything seems better than holding the local currency. The buying power of the boliviano has cratered, as trust in the once-dominant socialist government nears all-time lows, inflation hits three-decade highs and dollars are in short supply, Bloomberg News reported. That’s why more and more people are turning to a risky alternative to do business and protect their hard-earned savings: cryptocurrencies. From small coffee shops to large corporations, signs of rapid adoption are everywhere in this landlocked nation of 11 million in South America.

In a key development under Jet Airways’ ongoing insolvency proceedings, global alternative investment major Brookfield Asset Management has acquired an additional office floor in commercial tower Godrej BKC in Mumbai's business district Bandra-Kurla Complex for Rs 370.25 crore, the Economic Times of India reported. The sale was conducted under the Insolvency and Bankruptcy Code (IBC) and overseen by the National Company Law Tribunal (NCLT).

Nearly 20% of Russian property developers are at risk of bankruptcy due to plunging sales driven by high mortgage interest rates, Deputy Prime Minister Marat Khusnullin said, the Moscow Times reported. Khusnullin, who oversees housing and infrastructure in the government, warned that this figure could rise above 30% if financial conditions do not improve in the next six months. “By my estimate, about 20% of developers face serious risks,” he told the Vedomosti business daily.

As Yeochun NCC faces a default crisis due to a conflict over operational funding with Hanwha Solutions and DL Chemical, which each hold a 50% equity stake, the price of Yeochun NCC’s corporate bonds has also plunged, Chosun Biz. According to the Korea Exchange as of this morning, the corporate bond Yeochun NCC78 was traded at 9,000 won. This marked a decrease of 1,070.4 won from the previous trading day.

About 55% of India's merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration, the Indian government said on Monday, Reuters reported. Last week, Trump imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the U.S. to 50% - among the highest on any American trading partner.

Lower-income countries' external debt payments to private lenders remain three times higher than payments to China, research shows, shedding light on the complex, costly web of creditors they face as they struggle to keep up repayments, Reuters reported. The research, by advocacy group Debt Justice UK, underscores the power private lenders - from bondholders to commodity trading houses - have in countries across the developing world which juggle debt repayments with spending on other needs, from education to infrastructure.

Three years after legalising Bitcoin as legal tender as a means to fold retail users into the crypto ecosystem, El Salvador is creating a separate lane for high-net-worth and institutional investors, DL News reported. The Legislative Assembly’s newly approved Investment Banking Law allows licensed institutions with at least $50 million in capital to offer Bitcoin and other digital asset services. But not everyone will get through the door.

Australia’s central bank is poised to deliver its third interest-rate cut this year as inflationary pressures ebb, while Governor Michele Bullock is expected to stick with her cautious stance on the monetary policy outlook, Bloomberg News reported. Traders and most economists polled by Bloomberg anticipate the Reserve Bank will lower its cash rate by 25 basis points to 3.6% on Tuesday, bringing its cumulative easing in the current cycle to 75 basis points. The RBA will also publish its quarterly update of macroeconomic forecasts alongside the 2:30 p.m. decision.

President Trump is combining diplomatic overtures with economic threats to persuade Russia to end its war in Ukraine. Mr. Trump raised the stakes of his approach this week, when he announced plans to meet President Vladimir V. Putin, on the same day that he said he would punish India for buying Russian oil by doubling U.S. tariffs, the New York Times reported. Over the past month, Mr. Trump has repeatedly threatened to cripple Russia’s war economy if Mr. Putin doesn’t agree to a cease-fire, either by imposing new sanctions or by closing off the remaining markets for Russian oil.