Reserves
Pakistan strengthens China ties with expanded swap agreement
Doubling of swap line is latest in a series of sometimes controversial integration measures
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”
Higher interest rates prove a challenge for reserve managers
Argentina has lost 14.3% of its reserves since late April trying to defend the peso; central banks can employ accounting methods to handle turbulence, expert says
South Korea will publish data on forex interventions
US Treasury report called recent South Korean forex moves “concerning”
Reserve managers cautious on renminbi, despite predicting rapid growth
Market liberalisation, government intervention and PBoC’s approach to new areas of investment are top concerns
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
Global gold demand weakens despite central bank surge
WGC figures show Q1 demand was its lowest for 10 years, though central banks bought more
Official reserve management in the 21st century
A lack of operational clarity and reluctance to view reserve portfolios holistically have prevented optimal, rules-based approaches to reserve management becoming commonplace. BlackRock‘s Terrence Keeley, Stuart Jarvis and Michael Palframan explain how…
Norway’s pension fund suffers volatile first quarter
Fund loses $21 billion amid market gyrations but real estate proves its worth
Argentina’s governor reflects on reserve management rebuild
After liberalising the exchange rate in 2016, the country adopted new asset-allocation strategies
Kganyago on central bank independence and future plans for the IMFC
The South African Reserve Bank governor spoke with Christopher Jeffery at the Central Banking Awards about the South Africa’s new president, the importance of operational independence and key targets for the IMFC
Video Q&A: Elliot Hentov, State Street Global Advisors
Elliot Hentov, head of economic policy and research at State Street Global Advisors, discusses the challenges around reserve tranching and reserve diversification for central banks, highlighting their impact in developed markets and how they are being…
Rising rates seen as main risk by reserve managers
High asset prices and the halting and withdrawal of bond-buying programmes pose challenges
Former governor: Life lessons from Taiwan
Perng Fai-nan, former governor of the Central Bank of the Republic of China (Taiwan), shares key insights upon accepting Central Banking’s Lifetime achievement award
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
Return on foreign assets partly offsets trade imbalances – research
Emerging economies can recover from current account disequilibrium faster than reserve currency issuers
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”
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
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
Saudi Arabia confirms $2 billion transfer to Yemen’s central bank
Yemeni government said to demand payment of all revenues to Aden-based central bank as famine and war continue
Bank of Israel profits from rising equities – market operations director
Andrew Abir says Israeli central bank has benefited from rising US equities
Norwegian SWF invested $1.9 billion in unlisted real estate in 2017
The fund obtained a 7.5% return in a part of its portfolio that amounts to $28 billion