Reserves
IMF and WB to play part in Iraqi debt settlement
Russian Finance Minister Alexey Kudrin said on Friday 2 April that the issue of Iraqi debt settlement will be solved together with the World Bank and the International Monetary Fund (IMF).
Brazil doesn't plan to renew IMF accord, Meirelles
The Brazilian government doesn't plan to renew a $14.8 billion loan accord with the International Monetary Fund that expires this year, as it is accumulating foreign reserves, central bank president Henrique Meirelles said.
BSP raises $500M from foreign banks
The Philippine central bank said on Wednesday 31 March that it has raised 500 million dollars in financing from a syndicate of eight foreign banks.
Venezuela central bank against reserves plan
Venezuela's central bank has again repeated its opposition to President Hugo Chavez's plan to deprive the bank of its autonomy and take $7 billion of international reserves to fund projects and social programs.
Japan denies scrapping yen policy
Japan's Ministry of Finance has taken the unusual step of denying a report on The Times newspaper's website that Japan's campaign to suppress the rise of the yen against the dollar had 'officially' ended.
New Zealand cb's reserves boosted
The Reserve Bank of New Zealand will receive an extra NZ$1.9 billion (US$1.2 billion) in foreign exchange "for the purpose of stabilising the foreign exchange market in a period of, or to avoid, market dysfunction," Michael Cullen, the finance minister,…
New Venezuelan law targets central bank reserves
President Hugo Chavez of Venezuela said on Sunday 28 March that his government was drafting a new law to force the country's independent central bank to release international reserves to finance government projects.
Japan says will continue currency intervention
Japan's Ministry of Finance (MOF) said on Monday 29 March that it would continue its foreign exchange intervention, brushing aside a British newspaper report that Tokyo would finish its massive intervention into the currency market.
IMF approves second Argentine loan review
The Executive Board of the International Monetary Fund (IMF) on Monday 22 March completed the second review of Argentina's performance under a three-year SDR 8.98 billion (about US$13.3 billion) Stand-By Arrangement.
Philippines set to boost reserves by US $500m
The Philippines central bank said it intends to increase its dollar reserves before the May 10 presidential election through a new 500 million US dollar borrowing.
ECB loses EUR5.6bn on forex holdings in 2003
The weakness of the dollar has hit the European Central Bank hard in 2003, forcing the bank to declare a loss, and claw back dividend payments from its national central bank shareholders.
RBI dep governor: forex reserves 'not in plenty'
India's foreign exchange reserves, at over $109 billion, are not in plenty, the RBI Deputy Governor, Ms K J Udeshi, said on Friday 19 March.
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.
International Conference on Emerging Markets
The Centre for the Study of Emerging Markets (CSEM), Westminster Business School, London, will hold a two-day conference 11-12 June. Confirmed speakers include central bank governors from Poland, Bolivia, Latvia and Bosnia Herzegovina.
Japanese officials say intervention not over yet
Japanese officials continued their battle with foreign exchange markets on Thursday 18 March as the yen surged against the dollar, warning they will act against sudden moves, but only when necessary.
RBNZ's FX intervention background paper
Background information on the proposal of the Reserve Bank of New Zealand to extend the purpose for which it holds foreign exchange reserves. A capital injection into the RBNZ will be required to enable the Bank to absorb unrealised, temporary losses…
France may opt to use gold to fund research
The French government is looking at the possibility of using its gold reserves to finance research, with a ministerial source quoted as saying that while the gold is managed by the central bank it belongs to France.
Germany considers offloading 600 tons of gold
Ernst Welteke told a parliamentary committee on Wednesday 10 March that the Bundesbank wanted to sell 600 tons of gold over the next five years from its stock of 3,400 tons. But politicians said the funds should be used to cut debt, something the…
RBNZ propose ability to intervene in forex market
The Reserve Bank of New Zealand on Thursday 11 March recommended to the Minister of Finance that, as one of its monetary policy implementation tools, it should have the capacity to intervene in the foreign exchange market to influence the level of the…
Argentina avoids new IMF debt default
Argentina's government made a $3.15 billion payment to the International Monetary Fund on Tuesday 9 March, averting a new debt default with the Fund.
Report says Colombia should increase reserves
According to Colombia's banking association, the central bank should boost its international reserves by about $500 million to offset possible sudden capital outflows that would follow a US interest rate rise.
Hong Kong's foreign currency reserve figures
The Hong Kong Monetary Authority (HKMA) announced on Monday 8 March that the official foreign currency reserve assets of Hong Kong amounted to US$123.5 billion at the end of February 2004.
Euro central banks reach new gold sales agreement
European central banks said on Monday 8 March that they had reached a new agreement that increases the limits on their annual gold sales to 500 tons annually over the next five years.
Japan ponders reserves switch
Japanese Finance Minister Sadakazu Tanigaki's suggestion that Japan might consider diversifying its massive foreign exchange reserves provoked speculation about possible dollar dumping on a huge scale by Asian governments and also set the gold market…