Debt management
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Central Bank of Kuwait overhauls core banking system
System provided by Tata automates key central bank operations
Sub-Saharan Africa increasingly exposed to debt risks
Public sector borrowing and tighter financial conditions a challenge for regional reserve managers
RBI’s Kanungo warns on fiscal imbalances
State governments have borrowed heavily, making the RBI’s job harder, the deputy says
Book notes: American default, by Sebastian Edwards
Edwards’ book is fascinating, well written and enjoyable, and provides an account of one of the US’s forgotten chapters of history
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy and calls for better debt management infrastructure
Zimbabwe clears debt with IMF but hurdles to financing remain
IMF looks to extend debt deadline for Somalia and Sudan
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
Barbados calls for help from IMF as economic situation worsens
Fund to provide technical assistance with new economic plan as government suspends debt payments to external creditors
Belize must act to escape cycle of defaults – IMF staff
The country has completed a third debt restructuring in a decade, but IMF research says fiscal consolidation is needed to put debt on a “clear downward trajectory”
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows; reports suggest Goldman Sachs has been paid
Bank of Uganda warns on debt levels
Debt levels could be closer to 50% of GDP if undisbursed loans are taken into account; government upgrades risk of debt distress to “moderate”
Venezuela pays off $2.1 million debt to Chile
Struggling Latin American country honours debt repayments under Reciprocal Payments and Credit Agreement, after missing payment in 2017
Sovereign debt more ‘enforceable’ – ECB paper
Results show creditors have used courts to “pressure” foreign governments, resulting in restricted access to capital markets
Cocos lower banks’ funding costs – BIS paper
Mechanical triggers and equity conversion strengthen cocos’ impact, paper finds
The optimal size for central bank balance sheets
As the Fed seeks to reduce the assets on its balance sheets, Charles Goodhart examines the role between monetary and fiscal policy, central bank and debt office, and the optimal size of a central bank’s balance sheet
Bahamian central bank proposes law change to cap government debt holdings
New legal framework for Bahamas central bank would enforce “comprehensive” limits on government debt; holdings of long-term government debt stand at 12.52%
Government funds at T&T central bank nearly exhausted
Trinidad and Tobago governor warns government has used 99.7% of its overdraft; finance minister blames former administration for depleted funds
Sri Lanka issues first t-bonds under new transparent framework
Both maturities offered were oversubscribed in phase one, says central bank
Denmark hails success of new primary dealer model
National Bank says new approach has boosted bond market liquidity across a range of metrics
Sarb will take ‘defensive posture’ to debt downgrade, says Ballim
South Africa’s central bank is unlikely to respond to country’s junk debt status unless rand volatility starts to affect prices; Fitch joins S&P in downgrading country’s sovereign debt
Paraguay’s Valdovinos: bond issuance ‘not all about the money’
$500 million issuance was six-times oversubscribed, but the Paraguayan governor says its success lies in the message it sends to investors overseas
Denmark pays off all foreign debt for first time in 183 years
Government pays off its last foreign currency loan, leaving it free of foreign debt for the first time since at least 1834