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IMF stops loans to Indonesia over cbank law plans
The International Monetary Fund won't lend more money to Indonesia until the government finalizes planned changes to the law governing the central bank, Finance Minister Prijado Praptosuhardjo said.
Taiwan banks ordered to stop forex forward trading
Taiwan's central bank has ordered three foreign banks and one domestic bank, which were allegedly engaged in foreign currency manipulation, to suspend their foreign currency forward transactions, according to banking sources.
Algerian debt falls sharply, foreign reserves rise
Algeria's foreign exchange reserves rose to $9,691 million in October 2000, a 120 per cent increase on the foreign exchange reserves held at the end of 1999, figures published in the December 2000 edition of the IMF's International Financial Statistics …
Kenyan shilling weakens further on IMF concerns
The Kenyan shilling extended its decline against the dollar but at a slower pace on Dec 22 amid continued concerns about the future of Kenya's IMF aid programmme, dealers said.
Pakistan moves to ease banks' liquidity crisis
Pakistan's central bank on Dec 22 asked commercial banks to buy government securities against swap dollar deposits in an attempt to ease a liquidity crisis and meet a key donor condition, bankers said.
Zambian banks implement clearing system by Dec 31
All Zambia banks are expected to subscribe to the Direct Debit and Credits Clearing (DDACC) stream of clearing transactions by Dec. 31.
Romania to create secondary market of govt bonds
One of the priorities of Romania's future Finance Minister Mihai Tanasescu is to create a secondary market as quickly as possible for the sale and purchase of government bonds such as interest treasury bonds or discount treasury certificates.
India's exchange rate policy and control
This article by S Tarapore originally printed in the Business Standard looks at India's exchnage rate policy and control.
BOJ's Hayami highlights risks to Japan economy
Japan's central bank governor said on Dec 22 the deflation risks that have hamstrung economic recovery for years were back in the picture, while the top economic planner hinted that growth may have already contracted.
Lithuanian market watchdogs sign supervision pact
Lithuania's central bank, the securitities comission and insurance watchdog signed on Dec 22 a cooperation deal aimed at cementing supervision of the country's financial sector.
Indonesia c.bank, dealers discuss forex rules
Indonesia's central bank met dealers from foreign and local banks on Dec 22 to discuss forex trading rules but little was decided, one banking source at the meeting said.
Havel challenges new central bank law in court
Czech President Vaclav Havel called on the country's top court on Dec 22 to strike down several key passages in a new legislation on the central bank (CNB), saying they violated the constitution.
China cbank spokesman on management of gold
A spokesman for the People's Bank of China (PBOC) said Dec 22 that without authorization from the State Council and ratification of the PBOC, no institutions or organizations are allowed to organize gold trading market.
Euro lessens Emu dependence on US - BoF Trichet
Europe's economy has become less dependent on U.S. developments since the launch of the euro in January 1999, Bank of France Governor Jean-Claude Trichet, a member of the European Central Bank's (ECB) Governing Council, said in an interview published Dec…
Polish refomer Balcerowicz new central bank chief
Poland's best known reformer, Leszek Balcerowicz, admired and despised in equal measure for his rigorous free market beliefs, has again returned to guiding his country's economic transition, this time as central bank chief.
No radical policy changes at Bank of Canada
The Financial Post's Madelaine Drohan says in this article that anyone who thinks Canada's monetary policy is going to change dramatically with David Dodge at the Bank of Canada is dreaming in technicolour. It just isn't going to happen. Printed in the…
Zambia technical group to probe kwacha weakness
Zambian Finance Minister Katele Kalumba said on Dec 22 the government had appointed a technical committee to study the kwacha's weakness and recommend ways to stabilise the currency.
Slovenia c.bank eases portfolio investment rules
The Bank of Slovenia said on Dec 22 it would from January 2001 ease restrictions for foreign portfolio investment, part of its programme to harmonise regulations with those of the European Union by the end of 2002.
CNB Bank Board leaves interest rates unchanged
The Bank Board of the Czech National Bank CNB, which Dec 21 discussed the 12th status report on monetary and economic development, made no changes in the interest rates, spokesman Milan Tomanek told reporters after the session. The repo rate thus…
Bank of Portugal says 2000 growth 2.75% to 3.25%
The Bank of Portugal envisages that the country should register economic growth in 2000 of between 2.75 per cent and 3.25 per cent.
Mauritius automates banking settlement system
Mauritius' central bank on Dec 21 2000 launched an automated real time clearing and settlement system for the country's banking sector.