Fiscal policy
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Nagel calls on German government to tighten fiscal stance
Public spending needs to fall to lower inflation, says Bundesbank president
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Hank model sheds light on fiscal theory of the price level – paper
Adding heterogeneity allows FTPL models to reflect persistent government deficits, economists find
Uganda passes Islamic banking law
Parliament removes provision for sharia advisory council at the Bank of Uganda
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
A letter to Andrew Bailey
As the Bank of England struggles to bring inflation down, Jagjit Chadha warns the governor not to let markets take control
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
Zambia agrees foreign debt deal
Government agrees to repay faster if IMF assesses its ability to do so has risen
BoF’s Rehn says government plans violate central bank independence
New Finnish prime minister says he will revisit policy statement
Pakistan holds rates despite high inflation
Reserves resume fall as balance of payments crisis continues
Zimbabwe devalues currency as crisis deepens
Analyst says Reserve Bank and finance ministry are struggling for control of FX reserves
Thugge confirmed as next Kenya governor
President’s adviser gets parliamentary approval and calls for dollar bonds to boost reserves
Central banks’ pandemic interventions averaged 6% of GDP
IMF paper finds relief measures were three times bigger than in global financial crisis
Nigerian parliament lifts central bank financing limit
Central bank has lent government tens of billions as fiscal problems mount
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Sarb raises rates and warns of worsening economy
Central bank cuts growth forecast and says long-term inflation expectations are rising
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Bank of Italy expresses concerns over flat tax
Official says policy is typical of emerging markets and could weaken income redistribution
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
Bolivian governor says country faces ‘liquidity crisis’
Authorities’ response to bank failure could worsen financial stress, analysts say