Debt
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks with Christopher Jeffery about what necessitated monetary financing, the boundaries of ‘independence’ and the results of offline tests of the e-cedi
Argentine government devalues peso and replaces governor
Finance minister announces austerity as IMF welcomes new president’s early moves
Higher rates will push up firms’ debt costs gradually, says research
Authors warn that financial vulnerability could stem from higher for longer rates
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Kenya increases policy rate by 200bp to strengthen shilling
Governor says equilibrium rate has been ‘overshot’
Managing reserves amid climate change and home-shoring
Central banks can still make asset allocations with solid climate outcomes, despite slippage in the net-zero timetable, writes Gary Smith
BIS weighs possible shift in global liquidity conditions
Nervy markets struggle to digest rates outlook, as BIS research finds deeper shift may be underway
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
BCRA ex-governor Caputo will be Argentina’s economy minister
Central bank halts sales of devaluation hedge bonds
Riksbank governor calls on property companies to reduce debt
Thedéen warns monetary policy “needs to remain contractionary”
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
Bank of Israel keeps interest rates unchanged
Yaron warns government over fiscal policy as central bank cuts growth forecast
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
ECB paper studies ESG ratings’ effects on debt costs
Downgrades had only temporary effect on US firms’ bond spreads, researchers find
Sarb governor confirms Treasury may draw on reserves to service debt
South African authorities considering use of $25 billion to address ‘expensive’ repayments
Eurozone banks show “early signs of stress”, ECB warns
High interest rate will test eurozone’s resilience while some non-banks are at risk, review says
Geopolitical risks threaten financial stability – Norges Bank
Norwegian central bank says banks are well-capitalised but notes real estate problems
China vows long-term strategy to resolve local debt risks
Officials stress need to strengthen Communist party control over China’s financial sector
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
Court grants Evergrande five more weeks to avert liquidation
Hong Kong court gives Chinese developer until December 4 to revise restructuring plan
China boosts support for economy with new debt issuance
The central government will issue one trillion yuan in bonds in the fourth quarter
Default fears loom over Country Garden
The Chinese developer reportedly missed a final deadline to repay $15.4 million in interest
UK researchers propose 3% inflation target and negative rates
Inflation stalls at 6.7% in September, the same figure as in August
Argentine candidate promises opposition seats on BCRA board
Massa promises to renegotiate IMF loan as country heads to the polls on October 22