Governance
Sweden gives Ingves six more years as governor
General council of the Riksbank extends Stefan Ingves’ term as governor for another six years; first deputy governor and deputy governor resign
Sir Mervyn King collects more titles in Basel
BIS reveals Bank of England governor to chair Global Economy Meeting, Economic Consultative Committee and Group of Governors and Heads of Supervision; takes over in November
Draghi appointed ECB president
European Council approves appointment of Bank of Italy governor Mario Draghi as next president of the European Central Bank
Belarus central bank first deputy appointed acting head
Belarusian first deputy chairman Yuri Alymov takes over from hospitalised central bank head Pyotr Prokopovich
Lagarde ready to get tough on Greece
Says she “will not shrink from the necessary candor and toughness” in discussions with European leaders
SNB’s Hildebrand identifies risks to central bank independence
Swiss National Bank chairman Philipp Hildebrand says central bank independence is crucial, but has its pitfalls
Draghi's fate in European Council’s hands
European Council set to decide on nomination of Mario Draghi for ECB presidency; Lorenzo Bini Smaghi yet to announce decision regarding position on executive board
Carstens laments four fundamental weaknesses at IMF
IMF releases Agustín Carstens’ statement to the executive board following interview; describes four fundamental weaknesses he wants to address
Panellists' ‘shock’ at lack of investigation of BoE failings
Panellists giving evidence to the Treasury Committee expressed shock at absence of high-level investigation into the Bank of England’s actions in the financial crisis
Carstens and Lagarde in Washington for interviews
Interviews happening this week; decision still on course for June 30
FPC member gets call to Bank’s governing body
External Financial Policy Committee member Michael Cohrs appointed to Court of the Bank of England
Reserve Bank of India deputy governor retires
Shyamala Gopinath retires as deputy governor of the Reserve Bank of India; two new executive directors announced
IMF managing director saga continues
IMF rebukes New York Times for article on Fischer; Strauss-Kahn’s immunity pleas revealed; candidates continue battle for international support
ECB’s Bini Smaghi presents the four criteria for central bank independence
Executive board member claims criteria have safeguarded central banks from outside influences; “sorely tempting” to offload fiscal responsibilities onto monetary policy
Berlusconi asks Bini Smaghi to step aside
Italian prime minister acts to ensure French support for Mario Draghi as next head of the European Central Bank
Tanzania deputy governor leaves
Enos Bukuku takes up role with East African Community; Natu el-Maamry Mwamba reportedly replaces him
King defends his additional powers
UK government publishes draft legislation handing significant powers to the governor of the Bank of England; King reassures critics of the shift
Government representative quits Costa Rica’s board
Government representative on central bank board resigns; leaves body without power to make decisions on foreign exchange policy
Basel working group calls for 'explicit' financial stability mandate
Working group on financial stability governance calls for explicit and clear mandates for central banks
IMF disqualifies Fischer
IMF tells Stanley Fischer he cannot run for the role of managing director because of age; Fischer “proud and happy” to remain in role at Bank of Israel
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers
Fischer joins IMF race
Governor of the Bank of Israel announces candidacy to become IMF managing director; calls chance to run an “extraordinary and unplanned opportunity”
Queen knights King
Bank of England governor Mervyn King receives knighthood from the Queen in her birthday honours list
Interview: John Mendzela
John Mendzela is a specialist in central bank governance and strategic management. Here he discusses the gaps in central bank governance highlighted by the crisis and presents some potential fixes