Reserves
Speech by Governor, State Bank of Pakistan, 15 May
SPEECH - In the Governor's Interview on PTV Husain said "I would submit that the State Bank had introduced transparency to such an extent that we publish all the information/data in our Annual and Quarterly Reports and also put them on our website."
Iranian c bank head denies excessive bank debts
IRAN - Governor of the Central Bank of Iran (CBI) Mohsen Nurbakhsh has said that the CBI's liabilities do not exceed 21bn dollars.
Japanese yields climb as bond auction fails
JAPAN - Japanese bonds headed for their biggest losing week in 3 years as a sale of 10-year government benchmark securities failed for the first time to attract sufficient bidders for the debt on offer.
Speech by Governor, State Bank of Pakistan, 1 Jul
SPEECH - In the speech titled 'Pakistan and the IMF : 1988-2002' Husain said the image of the IMF in developing countries and in Pakistan remains tarnished because of the burden of historical legacy, the increasing debate about the efficacy of the IMF…
Speech by Governor, State Bank of Pakistan, 1 Aug
SPEECH - In the speech titled 'Why does Pakistan have to accumulate foreign reserves?' Husain said "the stability in the exchange rate, the reversal of flight capital, the arrest in dollarisation of the economy, low inflation, the reduction in interest…
Developing nation bankruptcy treaty may emerge
ARTICLE - With financial instability rippling through Latin America, momentum appears to be building for an international plan to make it easier for developing nations to declare bankruptcy and renegotiate their foreign debts, reports the Wall Street…
Court rejects Argentine bank deposit moves
ARGENTINA - Argentina's Appeals Court handed the government another setback Friday, declaring a January decision to convert bank deposits from dollars to pesos unconstitutional, it is reported.
China's gold firms told prepare for liberalisation
CHINA - China's gold enterprises should gear up to prepare for changes brought by market liberalisation, said delegates attending the RNA China Gold & Precious Metals Conference in Shanghai on Monday.
HK's forex reserve amounts to 100 Billion US $
HONG KONG - The Hong Kong Monetary Authority (HKMA) announced Monday that the official foreign currency reserve assets of Hong Kong amounted to 112.3 billion US dollars at the end of August 2002.
Uruguay int'l reserves fall 0.93 pct 5/6 Sept
URUGUAY - Uruguay's international reserves fell 0.93 percent Sept. 5-6 to $742 million, the Central Bank said on Monday, amid relative stability in the financial system following a run on deposits earlier this year.
IMF Press Release
PRESS RELEASE - IMF Approves US$30.4 Billion Stand-By Credit for Brazil, 6 September.
HKMA Press Release
PRESS RELEASE - Hong Kong's Latest Foreign Currency Reserve Assets Figures Released, 9 September. The Hong Kong Monetary Authority (HKMA) announced today (Monday) that the official foreign currency reserve assets of Hong Kong amounted to US$112.3 billion…
Global forex settlement system launched
US - The $2,000bn a day foreign exchange market, the world's biggest by far, today introduces the first ever global settlement system, the result of more than five years of talks between central banks and market participants.
IMF Press Release
PRESS RELEASE - IMF Extends Argentina's SRF Repayment by One Year, 5 September.
IMF confirms delay of Argentina loan payment
US - The International Monetary Fund on Thursday delayed for one year a $2.8 billion Argentina loan payment, saying the situation there remains "very difficult" and repeating what policies are needed before aid can be restarted.
Uruguay can pay public debt to December - cen bank
URUGUAY - Uruguay has enough funds to pay its public debt up to December using international reserves and multilateral loans, Central Bank President Julio de Brun said on Wednesday, responding to investor concerns the recession-hit country would not be…
Colombia: Central bank warns about capital flight
COLOMBIA - The Bank of the Republic has warned that Colombians are taking their money out of the country, a situation which was brought to the attention of the Third Senate Commission by Bank of the Republic President Miguel Urrutia Montoya.
Sharp growth in Pakistan surplus
PAKISTAN - Pakistan's current account surplus in the past financial year (July-June) soared to a record $2.74bn (€2.79bn, £1.77bn), up from $326m the year before, officials at the central bank in Karachi said Monday.
Joint publication of statistics on external debt
PUBLICATION - On 30 August 2002 the BIS, the IMF, the OECD and the World Bank jointly published a new quarterly release of statistics on the external debt of 176 developing and transition countries, together with data on international reserves.
Argentina unveils rules to encourage bank deposits
ARGENTINA - Argentina's central bank announced on Monday new rules meant to encourage people holding cash outside banks, for instance at home, to deposit it in the nation's beleaguered banking system.
Higher reserve rule from Mexico's central bank
MEXICO - From 26 September Mexico's commercial banks must keep at least 150bn pesos (US$15.2bn) in deposits at the country's central bank, up from the current 95bn-peso requirement.
Bank of Thailand auctions B1bn in government bonds
THAILAND - The Bank of Thailand on Wednesday auctioned one billion baht worth of government bonds due in June 2009 for an accepted average yield of 3.805%. The coupon rate for the bonds was 4.625% with a bid coverage ratio of 4.99 times.
IMF Working Paper Series
RESEARCH - 'Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001' by Kenneth Rogoff and Jeromin Zettelmeyer, August 2002. This paper describes the evolution of the literature from the late 1970s until 2001, with particular emphasis on the…
Brazil's Fraga sees 2002 GDP growth at 1 per cent
BRAZIL - Brazilian central bank head Arminio Fraga said he expects Brazil's economy, now suffering from the fallout of severe market turmoil, to expand at about 1 percent this year, less than previous forecasts, according to a research report by Goldman…