International Monetary Fund (IMF)
Bretton Woods Transcripts reveal insights into IMF quotas and governance
In the second of a three-part series, Andrew Rosenberg writes about how the negotiators at the Bretton Woods conference in 1944 spent much of their time deliberating quotas and governance for the IMF
IMF paper scrutinises ‘procyclicality’ in reserve management
Over half of central bank reserve managers surveyed by IMF say they would alter practices to reduce procyclicality; paper questions reliance on credit rating agencies
IMF paper examines emerging market counter-cyclical monetary policy
Emerging markets should target inflation for its counter-cyclical benefits as well as output variability, researchers find
ECB lifts ban on Cypriot ‘junk' bond eligibility
Rule suspension allows Cypriot government-issued or guaranteed debt instruments to be used as collateral in Eurosystem operations; follows precedent set for Greece in September 2012
Pacific island countries cannot rely on external demand
IMF office in Pacific warns island countries the impetus from growth ‘will need to come from within’; urges central banks to keep inflation in check and promote external competitiveness
IMF issues warning to Asian central banks on risk of overheating
Regional Economic Outlook says some Asian central banks may need to tighten policy to avoid stability risks; examines complicated effects of Japanese monetary easing
IMF calls for unconventional measures to tackle eurozone fragmentation
David Lipton says ECB will probably have to use unconventional measures to overcome credit crunch in peripheral eurozone members
G-20 report says move from stabilisation to growth requires ‘difficult balancing act’
G-20 meeting report urges carefully calibrated fiscal tightening to ‘nurture’ recovery; backs accommodative monetary policy and says emerging markets should use rapid growth to build buffers
IMF publishes new reserve management guidelines
New additions encourage portfolio diversification, greater consideration of an investment's impact on the markets and internal credit rating assessments
IMFC advocates ‘pragmatic’ approach to resisting capital flows
Committee of the IMF says easing by advanced economies is justified; emerging markets should use a variety of tools to lean against the resulting capital inflows
Emerging markets demand greater say in IMF affairs
G-24 group of emerging markets and developing countries urges IMF members to accept reforms to voting shares, pointing to 'serious flaws' in current formula
RBI’s Subbarao weighs merits of new consensus on capital controls
Duvvuri Subbarao says financial crisis shattered consensus view that capital controls should not be used, but deploying them correctly is still far from straightforward
People: Iceland deputy handed second term; IMF appoints new statistics head
Arnór Sighvatsson gets second and final term at Central Bank of Iceland; Canadian ‘chief statistician' makes DC switch to head IMF stats office
Lagarde says ECB has ‘room to manoeuvre' on rates
IMF managing director says it up to ECB when to cut rates but calls for co-ordinated policies worldwide to shift ‘from three-speed to full speed' global recovery
FSB and IMF ‘animosity’ claim rejected
Think-tank report blasts lack of co-ordination between organisations in early warning exercise; FSB secretariat member rebuffs claims, and brands exercises a success
Arbitrage threat kept 'fallible' leverage ratio to 4%, says Vickers
Vickers says his 'blue skies thinking' leverage ratio would have been 10%, and adds stress testing avoids banks gaming the system
IMF flags growing risks from low interest rate environment
Global financial stability report urges caution by central banks employing loose monetary policy; says lack of adjustment to medium-term challenges could create ‘chronic phase’ of crisis
IMF's Blanchard warns Europe could drag world economy down
IMF chief economist says ‘three-speed’ global economy could be dangerous; World Economic Outlook urges central banks to keep policy loose but be ready with an exit strategy
IMF researcher proposes new method for top-down stress testing
New, simple methodology for structural market-based top-down macro stress tests aims to overcome onerous data requirements
IMF annual report says asset bubbles among risks of ‘MP-plus'
IMF warns of risk associated with loose monetary policy in the world's biggest economies, but says stance should remain 'very accommodative until recovery is well established'
Lagarde highlights emergence of ‘three-speed’ global economy
IMF managing director says differences between regions are ‘starker than ever’ as emerging markets leave many advanced economies behind
IMF says independent central banks have ‘muzzled’ the inflation threat
World Economic Outlook says central banks have little reason to fear inflation resulting from loose policy – so long as their independence is upheld
IMF and Sarb push for stronger systemic supervision in Africa
Joint effort to highlight importance of macro-prudential approach in addition to scrutiny of individual institutions; IMF pushing for tighter supervision
Lagarde fears ‘unintended consequences’ of monetary easing
IMF managing director fears side effects from low interest rates and asset purchases; says there is a limit to the share of the burden of recovery that monetary policy can take