Reserves
Riksbank's general council backs extra dividend
SWEDEN - The General Council of Sweden's Riksbank Friday presented a proposal to the Swedish parliament recommending that an additional SEK20 billion of the central bank's net income for 2001 be transferred to the Treasury.
Gold bugs should not get too excited
AUSTRALIA - Predictions of a sustained increase in gold prices are not expected to be realised. The reason for the lack of a sustained revival is the poor business foundations of the gold industry.
Argentine peso strengthens
ARGENTINA - It is now three days since Argentina allowed its currency, the peso, to float freely for the first time in more than a decade and so far the peso has held its own, contrary to many experts' predictions.
Venezuela's currency slides after floating
VENEZUELA - Venezuela's currency has fallen 3.9% to about 824 bolivars to the dollar after the government scrapped five-year old exchange rate controls.
Banks review systems for managing risk
UK - Risk managers at banks in Britain and Ireland are re-examining defences against rogue traders following the loss of $750m (£532m) by Allied Irish Banks last week.
Argentina's peso firms
ARGENTINA - Argentina's peso has gained 10% against the US dollar on its second day as a free floating currency in a decade.
Peso float buys time in Argentina
ARGENTINA - The controlled flotation of the Argentine peso on Monday bought President Eduardo Duhalde's government a little time to continue improvising a plan to rescue the country from financial collapse, but pressing issues remain unresolved in the…
Sovereign Debt Restructuring - Thomas C. Dawson
LETTER - A Letter By Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, 7 February.
Speech by Koh Yong Guan, MD of the MAS
SPEECH - Koh Yong Guan said in the speech that the central bank is issuing an industry consultative paper on "credit portfolio stress testing," and the feedback from this will be used to formulate the guidelines. "Financial institutions in Singapore can…
Devaluation fears hit Nigeria's currency
NIGERIA - The Nigerian naira fell on the official currency market, following a slide on the black market on Friday on fears that a devaluation is imminent.
Czech National Bank shows loss for 2001
CZECH REPUBLIC - The Czech national Bank (CNB) posted a loss of CZK 28.6 bn in 2001, against a profit of CZK 2.5 bn in 2000, according to figures released by the bank.
Argentina has a month to get IMF aid, bankers say
ARGENTINA - Argentina may descend into a chaotic spiral of hyperinflation and social unrest unless the government can secure a massive IMF loan package in the next 30 days, local bankers and analysts said.
Argentina's peso under pressure
ARGENTINA - Argentina's currency, the peso, has fallen sharply on the money markets after a one-week suspension of trading.
Fears grow for Venezuelan currency
VENEZUELA - Venezuela's currency has renewed its slide, after support measures failed to stop investors, citizens and businesses converting cash into US dollars.
Argentina delays floating peso
ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres for another two days, suspending plans to fully float the peso.
Japan ready to intervene in markets
JAPAN - Japan's government said yesterday it was prepared to take "decisive action" to prevent a further fall in the stock market after the Nikkei 225 benchmark index closed at an 18-year low.
Egypt calls for aid
EGYPT - Egypt is to ask international donors for financial support of $2.5bn to help it plug the gap in the country's accounts.
Afghan currency 'expected to stabilise'
AFGHANISTAN - The Afghan currency, the Afghani, has seen huge changes in value over the last few months.
IMF approves $16bn for Turkey
TURKEY - The International Monetary Fund (IMF) has approved a $16bn economic package for Turkey, the third major aid program for Ankara in under two years.
Turkey - Letter of Intent
NEWS - The following item is a Letter of Intent of the government of Turkey, which describes the policies that Turkey intends to implement in the context of its request for financial support from the IMF.
IMF Press Release, 4 February
PRESS RELEASE - IMF Managing Director Sees Impressive Commitment by Turkey to Economic Reforms; Executive Board Approves US$16 Billion Stand-By Credit.
Poland deploys technology in reserve management
POLAND - Trema today announced that the National Bank of Poland has selected Finance KIT, Trema's straight-through processing treasury, risk and asset management solution, to automate its reserve management in preparation for Economic and Monetary Union…
Turkey woos IMF with reforms
TURKEY - Turkey is due on Friday to finalise a series of reforms to its banking system, deemed to be crucial if the country is to secure further loans from the International Monetary Fund (IMF).
Chaos in Kabul amid currency rumours
AFGHANISTAN - Afghanistan's currency markets have been plunged into chaos, amid reports that the Afghani could be abandoned temporarily for the dollar.