News
Indonesia central bank reform highly politicised
Messy and highly politicised attempts to revamp Indonesia's central bank are the latest blow to stumbling efforts to resurrect a battered economy. Economists and banking sources said the attempts to resolve a huge loan controversy centred on the bank…
BOJ commits to Jan 4 real-time settlement launch
Bank of Japan governor Masaru Hayami said on Tuesday the central bank would stick with the January 4 launch date for its real-time gross settlement (RTGS) system for government debt and money market transactions.
Philippine economy seen growing 4% in 2000
The Philippines' central bank said on Tuesday the economy may post four percent growth year-on-year in the third quarter, backed by a strong performance by the agriculture sector. Central bank deputy governor Armando Tetangco cited the 3.49% growth in…
Fraga welcomes BSCH bid for Banespa bank
Spain's Banco Santander Central Hispano was the surprise high bidder for Banespa yesterday, claiming Brazil's state bank for an unexpectedly high US$3.6bn. Arminio Fraga, Brazil's central bank president, welcomed the bid.
Taiwan BoP suffers from capital flight
After eight quarters in surplus, Taiwan's balance of international payments fell into deficit territory in the third quarter of this year as the result of a sharp fall in the capital account, the Central Bank of China revealed yesterday.
Second Nicaraguan bank collapses
Nicaragua is facing a crisis in its fragile financial system after the regulator moved to take over the second bank to fail in the past 100 days, and attacked the government for refusing to guarantee its customers' deposits.
Russia and IMF disagree over forex reserves
The Russian government is hoping to resume its talks with the International Monetary Fund in the middle of December, a source close to the talks told the Russian news agency Interfax on Tuesday.
Investors await Eqypt's exchange rate policy
Domestic and foreign investors in Egypt are waiting for some sign from the monetary authorities on a new exchange rate policy nearly two months after the country abandoned a long-standing fixed peg against the dollar.
Venezuela preparing interest rate measures
Venezuela's central bank is considering measures to limit the spread between commercial banks' lending and deposit interest rates, as part of a new banking law being drafted for decree by President Hugo Chavez.
Australian dollar falls to 17 year low
The tide of global foreign exchange markets has turned against the Australian dollar again with the local currency falling to a record 17 year low.
CBR auditor to be chosen on November 24
The Russian State Duma will name an auditor for the Central Bank of Russia for 2000 on November 24.The contenders are Deloitte & Touche and the PriceWaterhouseCoopers - FBK tandem.
Romania's foreign debt increases this year
Romania's foreign debt has increased in the first three quarters of 2000 by 1.5% compared with the end of 1999, reaching $9.2bn, Romania's central bank said.
Iran's Bank Melli to open branch in Moscow
Iran's Bank Melli will soon open a branch in Moscow with a capital of over $10m, Central Bank of Iran governor Mohsen Nurbakhsh said in a meeting with his Russian counterpart Viktor Gerashchenko.
Ghana to be HQ of West African Monetary Institute
Ghana has been selected as the location for the headquarters of the West African Monetary Institute that is to work towards the establishment of a West African Central Bank.
Brazil's cenbank intervenes in FX markets
Brazil's central bank intervened in the foreign exchange markets today, saying that it does not want the real to strengthen too much against the dollar as it could be detrimental to Brazil's trade balance.
Target throughput improves; issues remain
While throughput on TARGET payments is improving some banks are still ignoring rules which require them to make payments promptly.
Sarkinas: no policy change until after mid-2001
Reinoldijus Sarkinas, governor of the Bank of Lithuania, met with the IMF mission headed by Patricia Alonso-Gamo. He reiterated that decisions about the planned repegging of the national currency, the litas, from the US dollar to the euro would not be…
Cuba to aim for new debt timetable
Cuba will present its case for a multilateral rescheduling of its foreign debt to western creditor governments this week. Cuban central bank officials and representatives of the Paris Club group of creditor nations are due to meet in the French capital…
Changes to Bank Indonesia law planned
The chairman of the Indonesian government commission, which is looking at the performance of the central bank, has proposed amendments to last year's law which granted the central bank independence. There are concerns that this will mean a serious step…
Increased support for Balcerowicz as NBP president
Former Polish foreign minister Bronislaw Geremek of the Freedom Union [former ruling coalition junior partner with Solidarity Electoral Action] on Sunday announced he would call on all the parliamentary caucuses to support the candidature of Leszek…
Macedonia, Bosnia want share of FRY gold reserves
Today, on his return from Sarajevo, where a meeting had taken place of the heads of the national banks of the countries that emerged after the Socialist Federal Republic of Yugoslavia broke up, Ljube Trpeski, governor of the Bank of Macedonia, stated…
Armenian Development Bank celebrates 10 years
The Armenian Development Bank organised an official reception yesterday to mark the 10th anniversary of its establishment. It was attended by the founders of the bank, including Tigran Sarkisyan, head of the Armenian central bank.
Wahid proposes Nasution as new BI governor
There were rumours that President Wahid of Indonesia has proposed the acting governor of the troubled central bank, Bank Indonesia, Anwar Nasution, to take the job on a permanent basis.
Bank Indonesia's Nasution speaks out on integrity
Professor Anwar Nasution, Bank Indonesia's senior deputy governor, said today that the central bank's daily operations would go on as usual. He told the public not to worry since the bank's governing board will remain on the job until their replacements…