International Monetary Fund (IMF)
NY Fed’s Dudley calls on Puerto Rico to improve financial reporting
‘Unique status’ means troubled Caribbean economy is not regularly surveyed by public agency like the US Census Bureau or the IMF
Capital controls and exposure to China help EMs weather taper storm
IMF working paper isolates determinants of taper impact on emerging markets; finds capital controls, macro-prudential policies, and exposure to China can mitigate harm
IMF's Singh discusses ‘financial plumbing' issues as central banks leave ZLB
IMF's Manmohan Singh investigates issues around bank balance sheet regulations which may impact monetary policy options as central banks leave the zero lower bound
IMF says ECB should 'consider' buying eurozone government debt
International Monetary Fund encourages European Central Bank to launch large-scale asset purchase programme if inflation ‘remains stubbornly low’
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
Lagarde says Yellen should double FOMC press conference frequency
IMF chief says clear communication is needed to dispel market uncertainty over US interest rate lift-off; also calls on FOMC to publish quarterly monetary policy reports
Revisions to output gap estimates can skew fiscal stabilisers, IMF says
Working paper proposes a ‘rule of thumb' to take into account the likelihood of revisions to estimates of potential GDP when activating fiscal stabilisers
IMF researchers map out countries’ macro-financial risks
Working paper presents a framework for linking the various aspects of the IMF’s surveillance, and a tool for mapping out the various conditions in each member state
IMF launches global house price observatory to 'nudge' prudential policy-makers
Fund sets up website to help countries keep track of and compare housing sector developments and prompt them into ‘early action' on booms and busts
IMF paper warns low inflation will increase G-7 debt burden
Zero per cent inflation for five years would increase the average debt-to-GDP ratio by five percentage points, but researchers warn against chasing high inflation to erode debt burden
Hungary central bank hails pro-growth policies as IMF urges caution
Central Bank of Hungary sticks to easing cycle in face of IMF warnings; says growth in SME lending is down to its Funding for Growth Scheme
IMF agrees BoE should raise rates before tapering QE
Bank of England should raise interest rates before shrinking balance sheet, Fund says; notes ‘challenge' in communicating how monetary and macro-pru policies interlink
Central African central bank needs liquidity management overhaul, IMF says
IMF's annual mission to the Central African Monetary and Economic Community called for improved operations at the central bank and reform of government securities markets
Inflation targeting and fiscal rules work best together
IMF working paper finds fiscal rules and IT regimes are both more effective when they are used together; they also work best where the fiscal rule is brought in first
Carstens leads Sintra scepticism over macro-pru policies
Bank of Mexico governor Agustin Carstens says macro-prudential instruments were of ‘limited use’ in his country, while Lagarde points to other issues across the globe
IMF says Irish government should bolster central bank independence
International Monetary Fund report encourages the government to cede power over the central bank; authorities ‘disappointed’ by findings
Jamaica governor expects IMF money in June
Brian Wynter says country is performing well under EFF programme; notes 'continued favourable outlook' for inflation but 'elevated' expectations mean stance remains 'conservative'
Armenia central bank chair wins second six-year term
Arthur Javadyan will remain at the helm of the Central Bank of Armenia for another six years; country is entering into another programme with the IMF
Croatian National Bank knows best on FX policy, IMF finds
Croatia's central bank stuck up for its exchange rate policy in Article IV discussions with the IMF, which conceded the bank knew best on a range of issues
Canadian dollar holdings could be twice Cofer estimates – Bank of Canada
Study suggests IMF may have underestimated Canadian dollar's rise as reserve currency; growing global demand for government bonds has liquidity implications at home
De Larosière decries world monetary ‘anti-system’
Central bankers need to work together to identify and address macro-economic imbalances; system of co-ordinated currency boards could help absent functioning monetary system, says former IMF chief
The international monetary ‘anti-system’
A network of systemic risk boards might improve stability in the absence of a viable international financial system, writes Jacques de Larosière.
Lagarde warns Arab world of ‘lost' generation
IMF managing director Christine Lagarde says Arab countries must build economies on participation, not privilege, to cash in their demographic dividend
IMF pushes Kazakhstan to modernise monetary policy
The National Bank of Kazakhstan should widen its exchange rate band and adopt ‘more effective’ interest rate instruments, the IMF says