Reserves
Bank of Mexico to send government 239 billion pesos on back of reserve gains
Some 70% of surplus to be used to pay off outstanding government debt or reduce new issuance, while the remaining money will be used to support stabilisation fund
IMF staff raise concerns over Nigeria’s FX regime
Report voices worries about unintended consequences of FX restrictions, calling for more flexibility in exchange rate; Nigeria's authorities insist measures are temporary
Central bank gold purchases near record levels
World Gold Council argues negative interest rates make gold a favourable asset, but Thomson Reuters team sees other factors at play
Maechler says SNB plans to wield hefty balance sheet to encourage good governance
Swiss National Bank’s balance sheet has ballooned following currency interventions, leading to the question of what to do with the newly acquired assets
SNB made investment ‘innovations’ in 2015, report says
Central bank made first investments in new assets and began to wield voting rights to influence corporate governance in 2015, annual report shows
Equities support Danish central bank's profits in 2015
Move into riskier assets contributes to profits in 2015, in addition to significant returns from defending the krone; costs are also on the rise following major IT project
Renminbi to be identified in IMF Cofer database
IMF countries able to record renminbi holdings from October; inclusion in database recognises "continuing internationalisation" of currency, staff say
Singer outlines evolution of Czech reserves
Miroslav Singer tells London audience the Czech National Bank reserve allocation remains 'conservative', despite expanding into equities and new currencies in recent years
Australian central bank adds S Korean won to reserve portfolio
Australian central bank slashes euro holdings by 20% as diversification into alternative currencies continues
Debt deal struck but ‘heated’ discussions await Argentine president in congress
Vulture funds satisfied but Argentine president faces an ‘uphill’ battle getting deal through congress; analysts ultimately expect it to be approved, but see other challenges on the horizon
Snapshot: IMF reveals staff views on Argentina
IMF releases informal briefings compiled 2013-2015 in absence of Article IV; staff highlighted adverse effects of central bank and banking sector financing of government
Denmark focuses on long-dated issuance amid low rates
National Bank of Denmark’s 2016 debt issuance strategy uses long maturities to reduce interest rate risk as low rates hold down costs; return to more normal footing after last year’s suspension
Argentina inches towards repaying debt
Montreux Partners LP and EM Ltd settle; four creditors yet to agree on removing injunction
Debt repayment problems have ‘severe consequences’ on consumption, paper finds
Quarterly consumption 30% lower when debt repayment problems arise, research suggests, while recovery after the arrears is smaller than the initial decline
Jamaican officials point to management plans as debt falls
Jamaica set to reduce debt-to-GDP ratio to 125% in pursuit of 90% target; officials from central bank and debt management branch welcome changes in past year
Ukrainian central bank faces ‘difficult balancing act’
Ukraine’s central bank has boosted its foreign exchange reserves but faces high inflation and unemployment, a ‘weaker-than-expected’ recovery and possible currency pressure
Bundesbank over halfway towards gold repatriation goal
Deutsche Bundesbank repatriated 210 tonnes of gold in 2015, it says; 41% of gold reserves now housed in Frankfurt
Reserve accumulation can be inflationary, ECB paper says
Working paper examines the allocation of special drawing rights in 2009 to separate out the inflationary effects stemming from an increase in the monetary base and moral hazard