World Bank
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
People: World Bank appoints Gill as chief economist
Two members join Bank of Japan board, and senior IMF officials Lester and Rice step down
Rethinking regulation of the modern financial system
Bank of Italy’s Maurizio Trapanese writes that rules need to address uncertainty as well as measurable risks, entity types as well as activities, and should not be overly complex
Book notes: Harry White and the American creed, by James Boughton
This book offers a deeper understanding of the hugely influential IMF founder and his work, but fails to resolve espionage charges
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Myanmar junta brings charges against former deputy governor
Military regime accuses Bo Bo Nge of corruption, 15 months after he was first arrested
Polish central bank hikes rates 75bp
Inflation at highest levels for 24 years as governor faces opposition over second term
Philippines central bank announces wholesale CBDC pilot
“Project CBDCPh” will test large transactions at limited number of institutions
Bank of Jamaica will expand supervision of climate risks
Central bank notes island country is among 20 most vulnerable to climate change
G20 creates fund to guard against future pandemics
WHO says there is a $10.5 billion annual funding gap
Book notes: Mission economy, by Mariana Mazzucato
Although worth reading, the book doesn’t offer as many answers as it could when it comes to reimagining the capitalist system
Central Banking Awards 2022: final winners unveiled
Prizes for Central bank of the year, Lifetime achievement, Transparency, Economics and more
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
Albania orders first rate hike in 11 years
Increase of 50 basis points returns policy rate to pre-Covid level
MAS’s Tharman urges investor action on global instability
War, stagflation risk, climate crisis, pandemic and uneven growth create “perfect long storm”
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
Ukrainian governor calls for Russia to be barred from IMF funds
Senior Russian official at World Bank resigns in protest over invasion
IMF and World Bank pledge Ukraine aid
Fund considering emergency loan and World Bank assembling $3 billion package
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Weidmann to chair IMF governance review panel
Executive board ordered a review after allegations against Kristalina Georgieva
World Bank urges Georgia to make ‘further efforts’ on financial stability
Report praises “significant progress” but says work is needed on supervision, AML and inclusion
Afghanistan’s frozen assets trigger controversy as harsh winter looms
Cash that is “desperately needed” by ordinary Afghans remains frozen in overseas central bank accounts
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Central bank independence helps build reserves – researcher
Latin American central banks given independence built up strong FX reserves, paper finds