Sovereign debt
IMF grants Burundi $271 million loan
Burundi must liberalise currency regime, end central bank financing and tighten policy
Collateral use could destabilise markets, BIS economists warn
Borio and co-authors highlight “seismic shift” in markets and call for action by policy-makers
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bye-bye BCRA?
An Argentine presidential candidate proposes abolishing the central bank and the peso
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Sri Lanka calls five-day bank holiday for loan restructuring
Plan offers domestic creditors a choice of haircuts, after IMF says authorities must act on debt
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms
Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen
Bangladesh to adopt single exchange rate
Central bank raises interest rates as it struggles to stem inflation and build reserves
Strategic investment yields bigger impact than tactical, say managers
Central Banking Summer Meetings: Active investment is essential to understand market dynamics
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Argentina applying to join New Development Bank
China renews 130 billion yuan swap line with Latin American country
Sarb sounds alarm on sanctions risk
Central bank says country could face financial isolation if US thinks it arms Russia
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Bank of Italy expresses concerns over flat tax
Official says policy is typical of emerging markets and could weaken income redistribution
Kenyan president nominates ally as governor despite scandal
Former IMF official Thugge likely to succeed Njoroge, despite 2019 arrest over dam allegations
EME central banks must keep policies tight, says IMF deputy
Gita Gopinath says “markets are probably too optimistic” about cost of lowering inflation
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
Argentina raises rates again
Economic stability grows more distant as elections loom
Non-banks key to ‘absorbing’ sovereign debt – BIS paper
New database of key players in sovereign debt markets reveals EME reliance on non-banks
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
BoG’s Addison: Ghana agrees to end monetary financing
Governor says MoU with finance ministry “has been finalised”, and the IMF deal will come by the end of May
Bahamas SDR law gets parliamentary approval
Opposition claims government wants to legalise use of IMF assets after the fact
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses