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Sharp rise in Indian forex reserves by US $326 bn
INDIA - The country's forex reserves have registered a sharp rise of $326 million to touch $44.135 billion for the week ended August 10, as against $43.809 billion in the previous week.
Argentina pays workers in bonds
ARGENTINA - As Argentina's talks with the International Monetary Fund (IMF) drag on - with still no word on whether the country will get a much-needed aid package - the situation at home is getting worse.
Bank for International Settlements Papers
RESEARCH - Empirical studies of structural changes and inflation August 2001.
BIS Working Paper Number 102
RESEARCH - Allocating bank regulatory powers: lender of last resort, deposit insurance and supervision by Charles M Kahn and Joao A C Santos.
What gets a central banker to the top
Central Banking Journal discovers what it takes to succeed in central banking and reveals some intriguing trends - and exceptions - in the lives of those who made it.
IMF and World Bank plan to meet protestors
US - The International Monetary Fund and World Bank have agreed to a public debate with leading anti-globalisation activists during the organisations' annual meetings to be held in Washington next month.
Turkish police silence chained protester
TURKEY - Turkish police on 20 August detained a man who chained himself to iron railings outside Prime Minister Bulent Ecevit's office in protest at a hard-hitting economic crisis, state-run Anatolian news agency said.
Back to Bretton Woods
UK - The anti-globalisation protesters have a point, argues Felix Rohatyn a former US ambassador to France, in the London edition of the Financial Times, 20 August. It is time to reform the IMF and World Bank, he says.
UAE c bank to launch real time settlement system
UAE - The UAE Central Bank will launch the Real Time Gross Settlement System in the UAE on August 25, 2001.
Bank of Japan targets deflation
JAPAN - Japan's central bank is ready to consider further steps to bolster the country's troubled economy, with an inflation target now a possibility, according to top finance officials.
Indonesia expects IMF deal within days
INDONESIA - A deal to resuscitate Indonesia's loans from the International Monetary Fund, frozen since last year, could be finalised as early as 23 August, according to the Indonesian government.
China tighten grip on overseas operations of banks
CHINA - China unveiled rules on 20 August aimed at tightening supervision of the overseas operations of Chinese banks to prevent financial risk.
German banking fed cuts 2001 growth forecast
GERMANY - The German banking federation (BVB) said on 20 August it had cut its forecast for German growth for 2001 to 1.0 - 1.5 percent from an earlier 1.5 percent.
Japanese investor waits for Slovak c.bank approval
SLOVAKIA - Japanese company Japan Grade One Co Ltd. that wants to buy Devin banka through a 3-billion SKK capital injection has submitted all necessary documents to the National Bank of Slovakia (NBS) that the central bank needs to officially acknowledge…
S.Lanka central bank allows import prepayment
SRI LANKA - The Central Bank of Sri Lanka on 20 August lifted restrictions on the prepayment of import bills introduced earlier this year to stabilise the foreign exchange market.
An anxious countdown to new euro cash
BELGIUM - BELGIUM - In two weeks, thousands of armoured trucks will fan out across Europe to start supplying banks with crisp bills and shiny coins denominated in euros, the single continental currency that will replace the German mark, the French franc…
French/German growth difference not structural
GERMANY - France's economic growth has outpaced that of Germany for several years recently but the stronger growth was due to special, not structural factors and the gap should narrow in the future, the Bundesbank said on 16 August.
All Eyes on the Dollar
CENTRALBANKNET'S SPECIAL REPORT - Last week, after recent evidence from the Federal Reserve's Beige Book showed that six consecutive cuts in interest rates had done little to revive the US economy, the dollar finally started to weaken. A report by the…
Monetary Policy in the Euro Area
CENTRALBANKNET'S SPECIAL REPORT - A review by Robert Pringle, Editor, Central Banking Quarterly of a book by Otmar Issing, Vitor Gaspar, Ignazio Angeloni, Oreste Tristani titled "Monetary policy in the euro area: Strategy and Decision-Making at the…
Are central bankers too territorial?
UK - A letter published in today's, 17 August, London edition of the Financial Times claims that central bankers hide behind their independence and protect their own turf.
Cavallo aide pleads for patience on IMF
ARGENTINA - Market expectations on the speed of talks between Argentina and the International Monetary Fund on an expected multibillion-dollar aid package are "a bit exaggerated," an aide to Economy Minister Domingo Cavallo told local radio on 16 August.
India RBI says dividend to govt at 93.5 bln rupees
INDIA - The Reserve Bank of India (RBI) said on 17 August it has decided to transfer a dividend of 93.50 billion rupees to the federal government out of its surplus profit.
Profiles of bank of Japan policy board members
JAPAN - The Bank of Japan (BOJ) today, 17 August, released the minutes of its monetary policy meeting held on 28 June and 12-13 July.
Govt and bank move to cut deadlock in Romania
ROMANIA - The Adrian Nastase Cabinet approved in a 16 August sitting a programme of action in conjunction with Romania's central bank BNR to diminish the financial deadlock.