Debt
RBI’s Das weighs up external economic threats
India’s external sector is resilient, but capital flows have been volatile and trade weak, governor says
High public debt hampers fiscal stimulus in eurozone – Bank of Portugal research
High debt deepens crises, increases spillover effects and cuts scope for counter-cyclical fiscal policy
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
RBNZ publishes debt-to-income dataset
Data provides insight into how households might react to a financial shock, central bank says
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
IMF warns Zambia over risks
Country must act fast over rising debt to prevent “disorderly” fiscal adjustment, IMF board says
Government assets are just as important as deficits – IMF research
Borrowing costs are determined by structure of public assets
Barbadian reforms are strengthening economy, says central bank
Annual report says IMF programme beginning to prove effective
IMF extends deadline to implement increase in quotas
Executive board allows members to consent to and increase their contributions until December 27, 2019
African governors discuss concerns over rising debt
Central bankers stress need for African cooperation in face of weakening global economy
BIS paper highlights new channel for Mundellian ‘dilemma’
Authors weigh financial channel as explanation for why trilemma has become dilemma
Ethiopia needs to rebalance after investment boom – IMF Africa chief
Country has achieved impressive development but vulnerabilities have grown, says Abebe Aemro Selassie
Zambian president makes deputy governor finance minister
New finance minister must tackle large debt burden, rising inflation and falling growth
Senior Fed officials diverge on future rate policy
Richmond Fed president Tom Barkin not convinced inflation concerns warrant a cut
BIS paper looks at low returns on safe assets
Changing risk perceptions explain growing wedge between safe and risky assets, authors say
Zimbabwe relying on central bank to keep lights on
$14 million needed to keep power flowing, and debts are piling up, says energy CEO
BdF paper models tax evasion’s impact on sovereign default
Widespread tax evasion can undermine austerity plans imposed by donors, argue researchers
The twilight of banking supervision
Supervision of banks in Europe has deteriorated, rather than improved, since the advent of the eurozone crisis
Book notes: Why not default?, by Jerome Roos
A thought-provoking book that will repay the investment of any reader with an interest in sovereign debt
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
Mexican currency under pressure over ratings downgrades
Fate of the sovereign is increasingly linked to struggling oil company Pemex
Lagarde sends warning on US corporate and fiscal debt
Non-financial corporate liabilities reached nearly $20 trillion in Q1 2019, Fed data shows
Zimbabwe reaches IMF agreement to deal with currency crisis
‘RTGS dollar’ will be supported by advice from IMF programme
Central bank independence key to Ecuador programme – IMF
Fund is expected to sign off on first review of extended fund facility in June, providing $250 million