Reserves
Argentina has a month to get IMF aid, bankers say
ARGENTINA - Argentina may descend into a chaotic spiral of hyperinflation and social unrest unless the government can secure a massive IMF loan package in the next 30 days, local bankers and analysts said.
Argentina's peso under pressure
ARGENTINA - Argentina's currency, the peso, has fallen sharply on the money markets after a one-week suspension of trading.
Fears grow for Venezuelan currency
VENEZUELA - Venezuela's currency has renewed its slide, after support measures failed to stop investors, citizens and businesses converting cash into US dollars.
Argentina delays floating peso
ARGENTINA - The Argentine Government has extended the closure of banks and foreign exchange centres for another two days, suspending plans to fully float the peso.
Japan ready to intervene in markets
JAPAN - Japan's government said yesterday it was prepared to take "decisive action" to prevent a further fall in the stock market after the Nikkei 225 benchmark index closed at an 18-year low.
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.
Afghan currency 'expected to stabilise'
AFGHANISTAN - The Afghan currency, the Afghani, has seen huge changes in value over the last few months.
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.
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 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.
Poland deploys technology in reserve management
POLAND - Trema today announced that the National Bank of Poland has selected Finance KIT, Trema's straight-through processing treasury, risk and asset management solution, to automate its reserve management in preparation for Economic and Monetary Union…
Turkey woos IMF with reforms
TURKEY - Turkey is due on Friday to finalise a series of reforms to its banking system, deemed to be crucial if the country is to secure further loans from the International Monetary Fund (IMF).
Chaos in Kabul amid currency rumours
AFGHANISTAN - Afghanistan's currency markets have been plunged into chaos, amid reports that the Afghani could be abandoned temporarily for the dollar.
Brazil to handle exchange interventions online
BRAZIL - Brazil's central bank will transfer intervention operations in the currency exchange market to an online system, Central Bank Monetary Policy Directory Luiz Fernando Figueiredo said late Wednesday.
Argentina seeks US backing
ARGENTINA - Argentina's government has begun crucial financial talks in Washington, as forecasts show the economy is set to contract sharply this year despite the devaluation of the peso.
IMF team says dollar best currency for Afghanistan
AFGHANISTAN - A team of International Monetary Fund and World Bank experts visiting Afghanistan said on Tuesday it would make sense for the country to switch to the U.S. dollar in the short term.
Argentina may float currency freely soon
ARGENTINA - Argentina's President Eduardo Duhalde has said that it may float the peso entirely in a few months time.
India RBI - Easier liquidity policy boosts econ
INDIA - The Reserve Bank of India Deputy Governor Y.V. Reddy said Wednesday that the bank will continue to follow its easier liquidity policy to boost the economy.
BOE gold auction fifth of six planned auctions
UK - The Bank of England Wednesday auctioned 20.0 metric tons of gold, or 643,200 ounces, at an allotment price of $283.50 per troy ounce.
Argentina's president calls for unity
ARGENTINA - Argentina's President, Eduardo Duhalde, has called for an "historic national dialogue" to take the country out of the worst economic crisis of its history.
IMF chief calls for open markets
US - The head of the International Monetary Fund (IMF) has blasted the US, the European Union and Japan for continuing to aid farmers and manufacturers within their countries at the expense of poor nations.
Japan to unfreeze deposits of Afghan central bank
AFGHANISTAN - The Japanese government said Tuesday it will unfreeze the 77 million yen in deposits held in Japan by Afghanistan's central bank in line with the inauguration of an interim administration in the war-torn country.
China ranks US Dlr as No 1 component of reserves
CHINA - People's Bank of China Governor Dai Xianglong on Tuesday ranked U.S. dollars as the major component of the country's foreign reserves, ahead of the euro and yen.
IMF Press Briefing on Argentina
PRESS BRIEFING - Transcript of a Press Briefing (Teleconference) on Argentina given by Anne O. Krueger, First Deputy Managing Director, International Monetary Fund, Washington, D.C. 11 January 2002.