Public policy
IMF approves $370 million credit facility for Afghanistan
New programme aims to support country’s recovery from Covid-19
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
Bank of Spain calls for reform of pensions system
Governor sees need for national consensus to secure sustainability of current system
‘They could do nothing’: insights into political interference at the Fed
Interviews with former Fed chiefs reveal what it is like to be chair when politicians want their way
Professional services initiative: World Gold Council
Having identified seven different ways of accounting for monetary gold among 70 central banks, the WGC developed guidance to bring greater consistency to accounting practices
Bank of Israel calls on government to reduce deficit
Budget imbalance is forecast to reach 3.6% of GDP in 2019, official target is 2.9%
Book notes: EuroTragedy, by Ashoka Mody
The former International Monetary Fund insider elegantly tells the story of the creation of the currency that has defied economics, warning that it could get “worse, much worse”
Bank of Mexico challenges public sector pay cap proposals
Central bank files complaint with Supreme Court amid concerns new law could threaten independence
Kohn ‘deeply’ worried Fed might not have support to fight next crisis
Former Fed official discusses political implications of financial crisis after documentary screening
Political instability main risk for Brazilian banks – central bank
Financial system has expanded credit without increasing risk, Central Bank of Brazil says
Big data in central banks focus report 2018
The third Central Banking big data focus report delves further into recent trends as central banks grapple with the question of upgrading their approaches to data
Data handling – A rethink
Official institutions are maturing as big data users but there is plenty more work to be done.
Trump tariffs could force Fed’s hand – IMF
US central bank could be forced to raise rates more quickly if tariffs force prices higher
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
Ukrainian central bank criticises lawmakers for failing to reform state-owned banks
Draft law aimed to protect country’s largest banks from ‘political impact’, NBU says
Riksbank plans comms drive to mark 350th anniversary
The world’s oldest central bank intends to engage the public, explaining its role in the economy
Bank of England launches beta version of new website
New website designed by Cyber-Duck, design agency which helped launch BoE’s new fiver website in 2016
Slovene governor: draft law would harm bank’s independence
Government’s action is the latest move in its dispute over bank bail-ins
ECB says draft Polish legislation could cause moral hazard
Law may have “considerable impact” on bank profits, central bank says