Debt
PBoC asks banks to roll over local government debt
Major lenders reportedly told to extend loans to local government financing vehicles at lower rates
Kenya to buy back $500 million in Eurobonds
Central bank governor says country will seek ‘exceptional’ IMF funding
China SWF buying bank shares on Shanghai exchange
Central Huijin was created in 2003 to address domestic banking crisis
Burundi authorities arrest former governor
President fired Murengerantwari on October 8 without explanation
BoE to conduct ‘desk-based stress test’ for 2024
Financial policy committee warns of some risks in UK corporate and household finance
Bank of Japan steps up bond purchases
Central bank faces pressure to raise rates as yields on 10-year government bonds rise
PEPP to become ECB’s weapon of choice
Facing high but falling inflation, the governing council is expected to hold rates
Ghana’s governor rejects opposition calls to resign
Addison says central bank only used monetary financing to respond to crisis
‘Buy now, pay later’ may target the financially fragile – NY Fed
Researchers warn sector may not be resilient
IMF says Somalia is on track to reach major debt deal
Agreement with Russia would unlock relief, governor says
Milei picks professor to be (last) central bank governor
Argentinian candidate picks dollarisation advocate for BCRA
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
Ghanaian MPC holds rates while Guinea opts for 50bp rise
Addison says Ghana’s growth will outstrip IMF forecast but reserves remain extremely low
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Debt levels are likely to start rising again, IMF warns
China playing major role in debt growth, as low-income countries face worse risks, analysts say
Book notes: The Continental dollar, by Farley Grubb
Grubb’s book brings an important new interpretation to this founding moment in US financial history
Tunisian president wants central bank to directly finance budget
Central bank governor has rejected calls for monetary financing as observers warn of growing crisis
BIS paper says reform to AT1 instruments ‘may be necessary’
Actual use of contingent bonds may clash with their original purpose, authors say
US official outlines expanded role for poorer nations at IMF
Shambaugh discusses quota reform and new officials for developing countries
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Fed proposes long-term debt requirement for large banks
Governors Waller and Bowman express concern the rule doesn’t appropriately tailor regulation