News

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.

Brazil's cenbank intervenes in FX markets

Brazil's central bank intervened in the foreign exchange markets today, saying that it does not want the real to strengthen too much against the dollar as it could be detrimental to Brazil's trade balance.

Sarkinas: no policy change until after mid-2001

Reinoldijus Sarkinas, governor of the Bank of Lithuania, met with the IMF mission headed by Patricia Alonso-Gamo. He reiterated that decisions about the planned repegging of the national currency, the litas, from the US dollar to the euro would not be…

Cuba to aim for new debt timetable

Cuba will present its case for a multilateral rescheduling of its foreign debt to western creditor governments this week. Cuban central bank officials and representatives of the Paris Club group of creditor nations are due to meet in the French capital…

Changes to Bank Indonesia law planned

The chairman of the Indonesian government commission, which is looking at the performance of the central bank, has proposed amendments to last year's law which granted the central bank independence. There are concerns that this will mean a serious step…

Increased support for Balcerowicz as NBP president

Former Polish foreign minister Bronislaw Geremek of the Freedom Union [former ruling coalition junior partner with Solidarity Electoral Action] on Sunday announced he would call on all the parliamentary caucuses to support the candidature of Leszek…

Macedonia, Bosnia want share of FRY gold reserves

Today, on his return from Sarajevo, where a meeting had taken place of the heads of the national banks of the countries that emerged after the Socialist Federal Republic of Yugoslavia broke up, Ljube Trpeski, governor of the Bank of Macedonia, stated…

Armenian Development Bank celebrates 10 years

The Armenian Development Bank organised an official reception yesterday to mark the 10th anniversary of its establishment. It was attended by the founders of the bank, including Tigran Sarkisyan, head of the Armenian central bank.

Wahid proposes Nasution as new BI governor

There were rumours that President Wahid of Indonesia has proposed the acting governor of the troubled central bank, Bank Indonesia, Anwar Nasution, to take the job on a permanent basis.

Bank Indonesia's Nasution speaks out on integrity

Professor Anwar Nasution, Bank Indonesia's senior deputy governor, said today that the central bank's daily operations would go on as usual. He told the public not to worry since the bank's governing board will remain on the job until their replacements…

Balcerowicz might be seeking Polish cenbank post

Leszek Balcerowicz, the author of Poland's free market reforms in the early 1990s, said on Friday he would quit his political leadership role, amid expectations he will seek the presidency of the National Bank of Poland.

Noyer - too early to judge success of intervention

European Central Bank Vice President Christian Noyer said in a lecture titled "How to Enhance the Credibility of the ECB and the Euro" that it was too early to judge the success of the ECB's intervention.

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