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Counterfeit bank notes on rise in Korea 1st half
SOUTH KOREA - The number of attempts to use forged bank notes increased considerably in the first half of the year, as counterfeiters have easier access to computer scanners and colour photocopiers.
Rudiger Dornbusch
ARTICLE - Rudiger Dornbusch, a far-from-dismal economist, died on July 25th, aged 60. The Economist magazine, 9 August paid tribute to him.
US regulators extend comment period for card rules
US - Regulators have extended the comment period on their draft guidance aimed at improving banks' credit card lending policies to 23 September and said they will soon issue further statements on the guidance.
Central Bank of Russia to offer $13,000 gold coins
RUSSIA - New Russians, extravagant businessmen famed for their love of gold and deep pockets, might now have to start thinking about getting wide ones too, reports Reuters on Friday.
Namibian c bank chief 'was not aware of gem link'
NAMIBIA - The Governor of the Bank of Namibia, the country's central bank, says he was made a director of a diamond company without his knowledge, a Namibian news website reported.
It's time to create the 'amero'
ARTICLE - In an article in the Canadian National Post on Friday Herbert Grubel introduces the idea of the 'amero' a single currency between Canada the USA and possibly Mexico along the same lines as the euro. He also tries to unravel some apparent…
Japan central bank keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Friday amid hopes that an economic recovery is taking hold after a long slump.
New central bank governor appointed Mauritania
MAURITANIA - The Presidency of the Republic issued the following two statements yesterday:
Economic Perspectives, Third Quarter 2002
PUBLICATION - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research.
ECB Working Paper Series
RESEARCH - The rationality of consumers' inflation expectations: survey-based evidence for the euro area, by M. Forsells and G. Kenny, August 2002. The results suggest consumers' inflation expectations in the euro area satisfy an intermediate rather that…
Short-Term Gains Versus Long-Term Challenges
RESEARCH - An Article By Michael Deppler and Jerald Schiff, Director and Division Chief, European I Department, International Monetary Fund, Public Service Review: Accession States, 25 July.
IMF Public Information Notice
NOTICE - IMF Advances Efforts to Combat Money Laundering and Terrorist Finance, 8 August.
IMF News Brief
NEWS BRIEF - IMF Completes First Review and Approves New Increase on Uruguay Stand-By, 8 August.
Theft from Nigerian central bank van denied
NIGERIA - A middle-aged man, Mustapha Abubakar, has appeared before an Upper Sharia Court, Sokoto for allegedly removing bank notes from a Central Bank of Nigeria armoured van. However, in his defence the man said in court he was inside the van only to…
Central bank relaxes bank suspensions - Uruguay
URUGUAY - Uruguay's central bank has authorized suspended banks to partially resume operations, Uruguayan daily El Pais reported.
Brazil set for "largest ever" IMF loan of $30bn
BRAZIL - The International Monetary Fund has agreed to lend Brazil an extra $30bn (£20bn), hoping that this will help pull the country and the region out of crisis. The deal represents the largest loan the IMF has ever provided in its history.
ECB grows more cautious on growth outlook
GERMANY - A shift of stance on inflationary pressures by the European Central Bank on Thursday reflected growing pessimism on the outlook for economic growth in the eurozone.
Iraqi central bank governor plans new note issue
IRAQ - The Iraqi News Agency asked Iraqi Central Bank (ICB) Governor Dr Issam Rashid Huwaysh several questions on the ICB's measures to minimize the problems citizens experience from the scarcity and destruction of banknotes which impedes the circulation…
Belarus reports notable rise in for ex reserves
BELARUS - The Belarusian central bank's net foreign exchange reserves rose by 48.5m dollars since the beginning of the year to 252.9m, Pyotr Prakapovich, head of the National Bank of Belarus (NBB), told reporters in Minsk on 7 August.
Polish e-signature centre may break EU law
POLAND - The privileged position of Centrast accreditation centre and the high fees that the subsidiary of the central bank plans to charge may be against the rules set forth in an EU directive on the e-signature, released in 1999.
Ukraine to issue more money
UKRAINE - Ukraine's government, faced with a spiralling budget deficit despite strong economic growth, has convinced the central bank to issue more than half a billion dollars worth of extra cash.
ECB Monthly Bulletin, August 2002
REPORT - The European Central Bank published its August 2002 Monthly Bulletin on 8 August. In the bulletin the ECB reinforced its "wait and see" approach to interest rates but admitted risks to price stability had become "more balanced". This was in…
Interview with Milton Friedman
INTERVIEW - Central Banking, The Quarterly Journal, contains an exclusive interview with Milton Friedman in the August 2002 edition. The Editor, Robert Pringle, spoke to US Economist Milton Friedman, just before Friedman celebrated his 90th birthday. In…