Debt management
Book notes: Why not default?, by Jerome Roos
Thought-provoking book that will repay investment of any reader with an interest in sovereign debt
China’s bond market needs reform, economist says
IMF book looks in detail at China’s bond market characteristics, prospects and reforms
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Central Bank of Kuwait overhauls core banking system
System provided by Tata automates key central bank operations
Sub-Saharan Africa increasingly exposed to debt risks
Public sector borrowing and tighter financial conditions a challenge for regional reserve managers
RBI’s Kanungo warns on fiscal imbalances
State governments have borrowed heavily, making the RBI’s job harder, the deputy says
Book notes: American default, by Sebastian Edwards
Edwards’ book is fascinating, well written, relating one of US’s forgotten chapters of history
Central bank financing spells trouble for Guyana – IMF
Fund warns central bank financing of government could create problems for monetary policy
Zimbabwe clears debt with IMF but hurdles to financing remain
IMF looks to extend debt deadline for Somalia and Sudan
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
Barbados calls for help from IMF as economic situation worsens
Fund to provide technical assistance with new economic plans
Belize must act to escape cycle of defaults – IMF staff
Country has completed third debt restructuring in a decade
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
Central bank data shows Venezuela is in ‘stealth default’
Debt repayments have rapidly decreased since October 2017, data shows
Bank of Uganda warns on debt levels
Debt levels could be closer to 50% of GDP if undisbursed loans are taken into account
Venezuela pays off $2.1 million debt to Chile
Country belatedly honours debt, after missing payment in 2017
Sovereign debt more ‘enforceable’ – ECB paper
Results show creditors have used courts to “pressure” foreign governments
Cocos lower banks’ funding costs – BIS paper
Mechanical triggers and equity conversion strengthen cocos’ impact, paper finds
The optimal size for central bank balance sheets
Charles Goodhart examines role of monetary and fiscal agents
Bahamian central bank proposes law change to cap government debt holdings
New legal framework for Bahamas central bank would enforce “comprehensive” limits
Government funds at T&T central bank nearly exhausted
Governor warns government has used 99.7% of its overdraft
Sri Lanka issues first t-bonds under new transparent framework
Both maturities offered were oversubscribed in phase one, says central bank
Denmark hails success of new primary dealer model
National Bank says approach has boosted bond market liquidity across range of metrics
Sarb will take ‘defensive posture’ to debt downgrade, says Ballim
South Africa’s central bank is unlikely to respond to the country’s junk debt status unless rand volatility starts to hit prices