News

New vice presidents suggested for Hungary cenbank

Hungarian daily newspaper Nepszava gave a list of the likely nominees for the post of new vice presidents at the National Bank of Hungary after the tenure of the current President Gyorgy Suranyi expires on March 1.

Liquidity gridlock feared from Japan's RTGS launch

Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.

Wahid won't interfere with Bank Indonesia

Indonesian President Abdurrahman Wahid will not interfere in negotiations over changes to the law governing the central bank, his spokesman said on Wednesday.

Fiji 2001 budget forecasts slow economic recovery

Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…

Economists hit Malaysia's dollar peg

Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.

Indonesia central bank reform highly politicised

Messy and highly politicised attempts to revamp Indonesia's central bank are the latest blow to stumbling efforts to resurrect a battered economy. Economists and banking sources said the attempts to resolve a huge loan controversy centred on the bank…

BOJ commits to Jan 4 real-time settlement launch

Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.

Philippine economy seen growing 4% in 2000

The Philippines' central bank said on Tuesday the economy may post four percent growth year-on-year in the third quarter, backed by a strong performance by the agriculture sector. Central bank deputy governor Armando Tetangco cited the 3.49% growth in…

Fraga welcomes BSCH bid for Banespa bank

Spain's Banco Santander Central Hispano was the surprise high bidder for Banespa yesterday, claiming Brazil's state bank for an unexpectedly high US$3.6bn. Arminio Fraga, Brazil's central bank president, welcomed the bid.

Taiwan BoP suffers from capital flight

After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.

Second Nicaraguan bank collapses

Nicaragua is facing a crisis in its fragile financial system after the regulator moved to take over the second bank to fail in the past 100 days, and attacked the government for refusing to guarantee its customers' deposits.

Russia and IMF disagree over forex reserves

The Russian government is hoping to resume its talks with the International Monetary Fund in the middle of December, a source close to the talks told the Russian news agency Interfax on Tuesday.

Investors await Eqypt's exchange rate policy

Domestic and foreign investors in Egypt are waiting for some sign from the monetary authorities on a new exchange rate policy nearly two months after the country abandoned a long-standing fixed peg against the dollar.

CBR auditor to be chosen on November 24

The Russian State Duma will name an auditor for the Central Bank of Russia for 2000 on November 24.The contenders are Deloitte & Touche and the PriceWaterhouseCoopers - FBK tandem.

Romania's foreign debt increases this year

Romania's foreign debt has increased in the first three quarters of 2000 by 1.5% compared with the end of 1999, reaching $9.2bn, Romania's central bank said.

Iran's Bank Melli to open branch in Moscow

Iran's Bank Melli will soon open a branch in Moscow with a capital of over $10m, Central Bank of Iran governor Mohsen Nurbakhsh said in a meeting with his Russian counterpart Viktor Gerashchenko.

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