International Monetary Fund (IMF)
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Financial regulations have been procyclical historically – research
Regulations tend to weaken during economic booms and strengthen with crisis
Bundesbank panellists call for change in German ‘mindset’
Mario Monti says he would like to free Germans from their economic “straightjacket”, while Benoît Cœuré hints at need for rebalancing
Central banks lack ‘firepower’ to combat financial crises, says report
Without interest rate cuts available, the next financial crisis could be much “longer and deeper”, Global Risk Report says
IMF’s Obstfeld: effects of accommodative policy remain unclear
The IMF chief economist weighs up the productivity puzzle and whether monetary policy helped or hindered growth following the financial crisis
Tanzania revokes licence of five banks
Rising NPLs and insufficient capital ratios in small banks source of concern, IMF says
Balancing reserves’ effectiveness and transparency
Why do countries accumulate more and more reserves if they know intervention may prove ineffective? Iris Yeung speaks to Canada’s Eric Wolfe
2017: The year in review
Over the past year, the global economy regained some strength, and some central banks began to return their policy to normal; but it was not all smooth sailing
Ukrainian central bank warns over ‘lengthy delay’ to IMF aid
National Bank of Ukraine calls for urgent action on state-owned banks; governor’s post remains unfilled
Lagarde warns of recessions in African economies
Some countries’ GDP due to shrink despite headline growth, IMF chief warns
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
Credit no longer supporting Chinese growth – research
China’s economy has become “saturated with credit”, argues IMF research paper, with fiscal stimulus primarily boosting manufacturing
IMF suggests changes to Mauritian monetary policy framework
Lack of clarity in current framework risks “undermining” the credibility of monetary policy, report says; medium-term inflation target of 3% should be implemented
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Small open economies benefit from QE spillovers – IMF paper
Fed’s QE had a similar net positive effect in Canada to that in the US
Central Bank of Myanmar retreats from stricter loan rules for banks
CBM loosens regulations on overdraft facilities in response to market concern
European recovery may be stronger than previously thought
If the great recession and sovereign debt crisis are considered a single shock, “recovery is in line with – or better than – historical patterns”
‘Paradigm shift’ needed for S Korea, warns IMF paper
Authors say “big push” is needed toward implementing social protection and “greater” economic freedoms
IMF says Liberian central bank must make ‘sustained’ reform efforts
Publication of executive summary of report on bank failure is “first step” to transparency
Sweden still needs loose policy – IMF
Elevated house prices, public debt and low wage growth are the biggest risks to the economy
People: Yellen to leave Fed in February; Curaçao names temporary governor
Janet Yellen to step down from Fed board; retirement crisis sees flurry of appointments at Curaçao and Sint Maarten; Carstens hands in chairmanship at IMFC; and more
IMF’s Lipton urges eurozone to speed up banking union
First deputy managing director says Europe should capitalise on support for euro and ensure uniform capital market regulation is in place
Accommodative policies can continue in Europe due to weak inflation, IMF says
Reduction of non-performing loans in weak banks remains a priority