Global
US official outlines expanded role for poorer nations at IMF
Shambaugh discusses quota reform and new officials for developing countries
Saudi Arabia in talks to join Brics bank
Gulf state would join as Shanghai-based lender increases non-dollar operations
IMF approves ‘food shock window’
Temporary measure will help countries deal with food insecurity
IMF unlocks $31.9 million for Madagascar
Natural disasters and oil price rises increased fiscal deficit
MAS’s Tharman urges investor action on global instability
War, stagflation risk, climate crisis, pandemic and uneven growth create “perfect long storm”
Consumer prices reach 30-year high in Canada
Wage increases fall below prices as consumers' inflation expectations reach record highs
Fed Board announces regional chairs and deputies
Proportion of women and ethnic minority directors at regional Feds increases
IMF finds Argentina bailout ‘did not deliver on its objectives’
Largest-ever IMF loan was ineffective and “not sufficiently robust”
IMF raises caps on loans to poorer countries
Reforms also provide new funding to anti-poverty trust
China and private sector could free ride on SDR issuance – El-Erian
Economist calls for development of a new common sovereign debt restructuring framework; Vera Songwe says many countries need more debt relief
Higher debt likely to expose EMs to stress – Brazil’s governor
Roberto Campos Neto argues Brazil’s higher inflation is due to temporary shocks
New York Fed’s Dudley calls for action on rising wage inequality
William Dudley proposes changes in school financing to tackle inequality of opportunity
Lower immigration slows growth, warns Minneapolis Fed president
Neel Kashkari tells local business leaders that thriving communities embrace immigration
Renminbi drops to six-year low
Figures from Safe show a net $44.7 billion worth of payments in the currency left China in November
Sarb’s Mminele fears a ‘lengthening drought’ in emerging market capital flows
‘Utmost vigilance’ the watchwords for emerging markets
London cements position as renminbi hub
RMB daily trades total $61.5 billion
Chinese liberalisation could be ‘force for global stability', says BoE economist
Article in Bank of England quarterly bulletin says a more open capital account in China could be a force for growth and financial stability at home and abroad
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency
EM central banks in a bind as capital volatility set to worsen
Central banks in the biggest emerging market economies are bracing for ever faster outflows of capital if tomorrow's FOMC minutes continue to point to US monetary tightening
Corporates remain lukewarm on offshore RMB, despite reported growth
Data released from Swift this week suggests international trade settlement in RMB continues to grow, but corporates aren't so sure
Polish economists call for dismantling of eurozone, and new role for ECB
Former Polish vice-minister of finance and bank chief economiss call for Germany to lead an exodus of the eurozone's strongest economies, to save the European Union