IMF: local currency lending cushioned crisis blow
A paper published by the IMF in April shows that the propagation of the global credit crunch was significantly more muted in countries where most foreign banks' lending was channelled in domestic currency.
The recent global financial turmoil raised questions about the stability of foreign banks' financing to emerging market countries. While foreign banks' lending growth to most emerging-market regions contracted sharply following the collapse of Lehman Brothers in late 2008, lending to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
BoK makes surprise 25bp cut to base rate
Majority of monetary policy board decides risks to growth warrant loosening in policy
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
RBNZ delivers third consecutive rate cut
Central bank signals further easing early next year as inflation returns to target band
Nigeria tightens policy further as inflation continues to rise
Central bank raises rates by 25bp as annual headline inflation exceeds 33%
Economists urge BoE to be more transparent on rate paths
Value of scenario analysis depends heavily on revealing reaction function, speakers say
South Africa makes 25bp cut
Central bank stays cautious but continues easing cycle amid slowing inflation
Turkey holds rates at 50% for eighth consecutive month
Analyst says central bank’s cautious positivity about disinflation points to December cut