Imbalances
RBI’s Das: pandemic improved India’s external balance
Boom in software business helped shore up current account and boost RBI reserves, governor says
IMF grants Tonga $10 million emergency loan
Fund’s Article IV report expresses concern about banking sector; predicts GDP contraction
IMF staff lay ground for $1.8 billion loan to Costa Rica
Staff set terms for three-year loan as high debt and Covid-19 take toll; earlier agreement foundered amid public protests
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
NBG paper develops early warning system for external risks
Georgia’s current account deficit and dollarisation create vulnerabilities, authors say
Barbados governor hits back at AML ‘blacklisting’
Action by EU is “pernicious” amid pandemic and IMF programme, says Cleviston Haynes
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Detail matters when monitoring external imbalances – IMF research
Gross external debt is one of the clearest signs of vulnerability, study finds
IMF economists call for action on global imbalances
“Excessive” imbalances exist in 40% of cases, though they have narrowed slightly
BoE and FCA move to tackle systemic risks in open-ended funds
Illiquid funds will be expected to impose a price discount or delay in event of investor sales; Mark Carney says issues are “increasingly appreciated” in global discussions
‘Sectoral’ counter-cyclical buffer could boost resilience, says Basel Committee
Targeted tool would have a narrower impact on segments of the market
SBP looks back on tough year for Pakistan
Lack of fiscal consolidation hampered central bank’s crisis response, annual report says
30 years of central banking
Central banks face credibility tests on a number of fronts
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more
Agustín Carstens on fixing the global monetary system
The BIS chief speaks about how to strengthen the global safety net, vulnerabilities in emerging markets and the challenges and opportunities posed by fintech
IMF staff strike deal for $6 billion Pakistan bailout
Mission chief says central bank should focus on inflation control and exchange rate flexibility
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
UAE deposits $3 billion with State Bank of Pakistan
Deposit comes as Pakistan’s foreign exchange reserves dwindle and IMF talks continue
Riksbank urges introduction of 5% leverage ratio
Sweden’s central bank sounds the alarm to fellow supervisor, urging action as housing market uncertainties begin to threaten financial stability
Sri Lankan central bank tackles ‘large and persistent’ liquidity deficit
Central bank adjusts policy to support banks, but weak economy and falling rupee limit options
China’s rebalancing on hold as growth falters – IMF paper
Rebalancing is expected to continue in 2019, but income inequality and leverage could prove an issue