International Monetary Fund (IMF)
Search frictions do not fully explain labour wedge: IMF paper
IMF study says labour market search frictions alone do not explain imperfections in labour markets
Worry about Greek CDS misguided, dealers suggest
Dealers believe fears about Greek sovereign CDS trigger event are overplayed
Selection process gets underway to find next IMF managing director
Nomination period commences; managing director will be chosen by executive board before the end of June; decision will be made “without geographical preferences”
IMF approves €26 billion extended arrangement for Portugal
IMF agrees extended support of Portugal; political cooperation allow plans to progress
IMF leadership race heats up
Central bankers from around the world have differing views; Lagarde still leads
LIC Asia banks’ not isolated from crisis: IMF paper
Fund study identifies spillover effects from global financial crisis on low-income country banks in Asia
Strauss-Kahn bows to pressure and quits
Dominique Strauss-Kahn resigns from his post as managing director of the IMF; continues to deny all allegations
Greece programme not working: IMF
IMF mission to Greece urges sovereign to undertake further budgetary measures; European official hints at soft restructuring
IMF paper addresses asset shortages in emerging markets
Fund study says greater capital market development and regulatory reform can raise supply of financial assets in emerging markets
IMF could remove Strauss-Kahn from post if required
IMF rules allow for removal of managing director “when the executive board so decides”
Strauss-Kahn denies all charges following arrest in New York
Lipsky takes helm; Strauss-Kahn remanded in custody until court hearing on Friday
IMF’s Lipsky considers yuan in future SDR
IMF first deputy managing director John Lipsky says renminbi is “serious candidate” for inclusion in special drawing rights
Egypt asks IMF for loan
IMF announces Egypt has requested a loan of $10 billion-12 billion
Lipsky to leave IMF in August
First deputy managing director John Lipsky says he will not seek a second term; will stay on as special adviser until the autumn
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
IMF re-examines link between exchange and inflation rates
IMF examines link between nominal exchange rate and inflation
Don’t hand over reins to markets: ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi sets out four reasons why sovereigns’ fates should not be left in the hands of markets
Kazakhstan may convert some reserves into yuan: reports
Governor of the central bank says he expects the yuan to be “globally recognised as a reserve currency” this year; currency swap deal on the cards
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
Phasing in Basel III rules eases economic costs: IMF paper
Fund study shows that implementing higher capital and liquidity requirements over a lengthy period of time can help reduce the macroeconomic costs of enforcing such rules
Trichet signals no change in June as ECB holds
Rates likely to remain on hold until third quarter
Bailout package offers hope for Portugal
Lisbon accepts €78 billion bailout as part of deal to reduce deficit to 3% of GDP by 2013; analysts say preliminary terms of deal positive for sovereign
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system