Sovereign debt
BdF paper models tax evasion’s impact on sovereign default
Widespread tax evasion can undermine austerity plans imposed by donors, argue researchers
Sovereign debt restructuring does not hamper returns long-term – IMF paper
Investors who sell during crises fare much worse than those who buy and hold
US company debt and euro public debt are global financial risks – IMF
China’s non-bank financial firms are also a major vulnerability, fund says
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
IMF formalises strategy on ‘social spending’
Lagarde says tackling inequality, exclusion and other social problems is key to rebuilding trust
Romania’s Mugur Isarescu on independence in a ‘post-truth’ world
National Bank of Romania veteran governor speaks to Christopher Jeffery about the country’s shift to a market economy, challenges in the eurozone and independence in a ‘post-truth’ world
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
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
Bank of Spain calls for reform of pensions system
Governor sees need for national consensus to secure sustainability of current system
RBNZ points to high private debt as main financial stability risk
New Zealand central bank stresses climate change impact on insurance industry
Costa Rican central bank backs government’s external financing plans
Move would reduce pressure on domestic rates and boost economic growth, it says
IMF and World Bank develop system to support debt management
System provides methodology and analytical tools for countries in the process of adopting these techniques
IMF flags high public debt in Middle East oil exporters
Oil producers in the Mena region are expected to average budget deficits of 4% of GDP in 2019
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
Sluggish investment was key factor in weak post-crisis recovery – IMF research
Output losses affected countries regardless of whether they had suffered a banking crisis
Eurozone needs central stabilisation fund to secure fiscal stability – ECB research
Unlike other monetary unions, the region’s federal budget plays a very limited role
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
IMF demands Ecuador end monetary financing
Central bank will need to cover liabilities vis-à-vis banks with international reserves
Triple reserve managers safeguard Singapore’s stability – Ravi Menon
Menon explains the separate roles of the three institutions managing national financial resources
Bank of Mexico stresses risks stemming from state-owned oil company
Pemex provides 20% of Mexico’s fiscal revenues, but is grappling with high debt and falling output
Zimbabwe borrows $985 million from pan-African lenders
International reserves cover only four weeks of imports amid limited access to hard currency
Kuroda warns of more QE if yen continues to strengthen
But Bank of Japan continues to cut purchases of Japanese government bonds