When Monetary Policy Becomes Foreign Policy: A Look at the Suez Canal Crisis | World101

Foreign policy is about more than guns and diplomats. Monetary policy is an effective tool to further strategic interests and foreign affairs. Financial sanctions, although increasingly popular as a tool of foreign policy, have been used throughout history to influence key world players. The Suez Canal crisis in 1956 is a great example of how monetary policy was implemented by the United States to manage European and Middle Eastern relations during the Cold War. To learn more about the Suez Canal crisis and how monetary policy is used as a tool of foreign policy, visit our Monetary Policy and Currencies module: https://world101.cfr.org/global-era-issues/monetary-policy-and-currencies

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