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Former Bank of Ghana chief to head disaster fund
John Saka Addo, former Governor of the Bank of Ghana, is to act as chairman for the Accra Sports Stadium Disaster Relief Trust, according to the Accra Mail. The Trust will provide funds to educate the children of the 128 soccer fans who died in the Accra…
Cavallo blames the IMF for Argentine crisis
Former Argentine Economy Minister Domingo Cavallo has blamed the IMF's policies for Argentina's devaluation and subsequent debt default, according to Merco Press. In an interview Cavallo argued that it would had been more beneficial "if the IMF had…
Duisenberg praises US-style labour reforms
Wim Duisenberg told the European Parliament on Thursday 25 September that to increase employment the EU must become more flexible. He compared the US labour market with that of Europe, saying "clearly they are doing better than us".
Kohn says economy not strong enough to boost jobs
Fed Governor Donald Kohn said on Wednesday 24 September "it will be a while before we can be sure that a self-sustaining expansion is underway of sufficient strength and persistence to put the economy back on a path toward full employment", Reuters…
Duguay: Monetary policy supports Canada's economy
In a speech 'How monetary policy supports Canada's economy' given on 24 September Pierre Duguay of the Bank of Canada reviewed the recent record of the Canadian and U.S. economies and discusses the role of monetary policy. He suggests that the protracted…
Fed's Kohn on Productivity and Monetary Policy
In a speech on 'Productivity and Monetary Policy' given on 24 September Donald Kohn of the Federal Reserve said our challenge as economists and policymakers remains to analyse ongoing developments and to judge the likely course of productivity and…
Monetary developments in the euro area
The ECB's "Monetary developments in the euro area" published on 25 September reveals the annual rate of growth of M3 decreased to 8.2% in August, from 8.6% in July 2003 (revised upwards from 8.5%).
Bergstrom: Monetary policy stays in Riksbank hands
Deputy Governor of the Sveriges Riksbank Villy Bergstrom took part in a panel debate organised by Skanes provinsbank in Helsingborg on 23 September. Subjects under discussion included the role of the Riksbank following the referendum and current economic…
Information acquisition & decisions in committees
This ECB Working Paper is a survey of the recent game theoretic literature on committee decision making. It considers theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv)…
Fukui at the 2003 World Bank-IMF Annual Meeting
In a speech to the 2003 World Bank-IMF Annual Meeting given on 23 September Toshihiko Fukui of the Bank of Japan said that more than six years have passed since the outbreak of the Asian financial crisis. He welcomed the progress that the World Bank and…
Rick's leadership rewarded at the Solomon Islands
One person it was good to see at the IMF meeting in Dubai was Rick Houenipwela, the universally popular and respected governor of the Central Bank of the Solomon Islands. There's another governor who has been through a lot recently.
Tips for Tito?
Following the recent to-do over South African Reserve Bank governor Tito Mboweni's swelling pay package, and the subsequent support he received from his opposite number in the finance ministry, Trevor Manuel, Mboweni might do well to take a leaf out of…
Marchenko's prize
Grigori Marchenko, the unassuming but hugely competent governor of the National Bank of Kazakhstan, has received recognition for his instrumental role in turning his country into the most prosperous economy in the region by winning Euromoney's 2003…
Mervyn's smile
When the Bank of England's top brass was hauled in front of the Treasury Select Committee to explain their August Inflation Report, Mervyn King, the Bank's new governor, stole the show - although the committee did probe the voting habits of some of the…
Kohler: don't over-interpret market reactions
Horst Kohler has warned against an over-reaction to exchange rate movements following statements released at the G7 Dubai meeting, according to AFX UK. The G7 said more flexibility is needed in exchange rates "to promote smooth and widespread adjustments…
New Iraqi currency 'will not be fixed to dollar'
The governor of the central bank of Iraq, Sinan al-Shabibi, has said that Iraq is not considering fixing its new dinar to the dollar, according to the Financial Times. But he added, "The question in the market is what is a float. We don't want it to…
Zimbabwe begins issuing new 'money'
The Reserve Bank of Zimbabwe launched its new temporary bank notes on Tuesday 23 September, according to Sapa. The so-called "bearer checks" resemble bank notes but will only be valid as legal tender until January 31, the Reserve Bank said.
Weak job market poses economic risk-Fed's Broaddus
Speaking to a meeting of the Southern Governors' Association in West Virginia on Tuesday 23 September, reported by Reuters, Richmond Fed president Alfred Broaddus said he believed that consensus forecasts for economic growth at about a 4.5 percent annual…
Vepa Kamesam's term at RBI extended by 3 months
Reserve Bank of India deputy governor Vepa Kamesam has been given a second three-month extension to his contract, according to Busines Standard. With this, Kamesam has become the first deputy governor to hold the position beyond the age of 62.
Philippines central bank urges further fiscal rest
With an election scheduled for May 2004, Rafael Buenaventura of the Philippine central bank said he is confident that the government would resist the temptation to increase spending in the run up to the polls, Reuters reports. "I don't they will be…
Poland's central bank warns on public finances
Polish central bank chief Leszek Balcerowicz has said in an interview that unless a credible programme exists to repair budget finances, Poland's long term economic growth will be restricted, according to the Financial Times.
Zeti named Asia's best central bank governor
Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has been named Asia's best central bank governor in a recent poll, according to The Star Online. Zeti, who is Asia's first female central bank governor, describes herself as a "career central…
Lebanon's central bank denies targeting Hamas
The Central Bank of Lebanon has attempted to deflect criticism of it by denying on Tuesday 23 September claims that it had issued a request to freeze the assets of Hamas and other Palestinian groups, according to The Daily Star.
Central Bank of Iran - Annual Report 2001-2002
The Central Bank of Iran has published its Annual Report for the year ended (1380) 2000-2001. The Iranian economy performed positively in 2001/02, the Annual Report said. Despite fluctuations of crude oil prices in world markets, especially in the…