Central banks' financing of governments warranted in some cases, says IMF paper
An International Monetary Fund paper published on January 18 says there is merit in allowing central banks in developing countries to provide short-term financing to governments facing seasonal fluctuations and illiquid capital markets.
Luis Ignacio Jácome, Marcela Matamoros-Indorf, Mrinalini Sharma and Simon Baker Townsend, the paper's authors, use a central bank legislation database to document and analyse worldwide institutional arrangements for central bank lending to the government
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