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IMF Press Release, 4 February
PRESS RELEASE - IMF Managing Director Sees Impressive Commitment by Turkey to Economic Reforms; Executive Board Approves US$16 Billion Stand-By Credit.
Turkey - Letter of Intent
NEWS - The following item is a Letter of Intent of the government of Turkey, which describes the policies that Turkey intends to implement in the context of its request for financial support from the IMF.
IMF approves $16bn for Turkey
TURKEY - The International Monetary Fund (IMF) has approved a $16bn economic package for Turkey, the third major aid program for Ankara in under two years.
Afghan currency 'expected to stabilise'
AFGHANISTAN - The Afghan currency, the Afghani, has seen huge changes in value over the last few months.
Afghanistan's accounting nightmare
FEATURE - Deep in the vaults of Afghanistan's central bank is what looks like a mountain of money - bundles of notes piled as high as a man fill a small room.
Egypt calls for aid
EGYPT - Egypt is to ask international donors for financial support of $2.5bn to help it plug the gap in the country's accounts.
Reserve Bank of New Zealand News Release
NEWS RELEASE - The Reserve Bank today rejected the suggestion, made by ACT leader Richard Prebble, that the registration of Kiwibank involved any special treatment, 4 February.
Greenspan urges better financial knowledge
US - Federal Reserve Chairman Alan Greenspan said on Tuesday that consumers needed to increase their financial knowledge to cope with an increasingly sophisticated marketplace.
Testimony of Fed Chairman Alan Greenspan
TESTIMONY - In his testimony titled 'Financial literacy' Greenspan said "for an increasingly complex financial system to function effectively, widespread dissemination of timely financial and other relevant information among educated market participants…
Swedish c bank gov stands by Dec inflation outlook
SWEDEN - Swedish inflation, currently running well in excess of three percent, looks set to slow to levels around the central bank's two percent target, central bank, or Riksbank, Governor Urban Backstrom said on Saturday.
Speech by Urban Backstrom of Sveriges Riksbank
SPEECH - In the speech Backstrom said "The picture of inflation continues to be a problem that cannot be disregarded...the Riksbank must keep a close eye on new inflation statistics, deepen the analysis in the event of deviations and weight this into the…
Speech by M R P Devakula, Bank of Thailand, 23 Jan
SPEECH - In the speech titled 'Commercial Banking and Financial Services: our Vision for Thailand' Devakula optimistically predicted that growth in gross domestic product (GDP) this year will stand at 2 to 3 per cent - well above the central bank's…
Speech by Governor of the State Bank of Pakistan
SPEECH - In his speech Ishrat Hussain said that a full-fledged 'Islamic' bank would shortly start functioning in Pakistan to switch over to interest-free banking in the country as per the verdict of the Supreme Court of Pakistan.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Indian Banking: Paradigm Shift in Public Policy' Reddy said the country's central bank desired to move to a 3 per cent cash reserve ratio (CRR) regime.
BoE's George hints at reluctance to raise rates
UK - Sir Edward George, governor of the Bank of England, hinted last night that he does not support a rapid rise in interest rates.
Speech by Eddie George, Bank of England Governor
SPEECH - In the speech George said "With inflationary pressures subdued, monetary policy generally can, for the time being at least, afford to remain reasonably supportive" - although he added that he made "no predictions as to what that may mean for…
Bank of Italy withdrew 50% of liras at end Jan
ITALY - The Bank of Italy has withdrawn just over half of the old liras in circulation with less than a month to go before the currency is to be entirely replaced by euros, Bank Of Italy Governor Antonio Fazio said Saturday.
China delegates arrive for key financial summit
CHINA - Delegates began arriving Monday at the Great Hall of the People for a crucial policy meeting that will set the financial system reform agenda for the next five years.
Latvia central bank's president nominates deputy
LATVIA - Bank of Latvia president Ilmars Rimsevics has nominated as his deputy Andris Ruselis, the vice-president of Balta and Latva insurance companies, reported the Latvian parliament press service.
Venezuela's Chavez denies problems banking system
VENEZUELA - Venezuelan President Hugo Chavez Sunday declared the financial industry solid and healthy after rumours that Venezuela's largest private-sector bank, Banco Provincial, was about to be subjected to intervention by the central bank due to…
EU heads of state to decide next no. 2 at ECB
FRANCE - French finance minister Laurent Fabius said Sunday that the issue of who replaces European Central Bank Vice President Christian Noyer at the end of May is a matter for European Union heads of state to decide.
Poorer states urge economic solidarity
US - At last year's gathering of the World Economic Forum in Davos, Switzerland, there was acknowledgment the global economy stood on the brink of recession.
Global economy 'recovering'
US - The head of the International Monetary Fund has told a meeting of the World Economic Forum in New York that he believes the world's economy is heading for recovery.