Global
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
US population growth has slowed down over the last decade due to a lower fertility rate. Productivity is also underperforming and contributing to the lower rates of GDP expansion in the US
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
Sarb deputy warns emerging market nations must maintain “utmost vigilance” as they are buffeted by the effects of divergent monetary policies and fears about the state of the Chinese economy
London cements position as renminbi hub
City of London report says the UK capital saw daily RMB trades of $61.5 billion in 2014
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
Finland economist provides euro crisis ‘view from the north'
Banking union will be key to avoiding a repeat of the eurozone sovereign debt crisis, writes Bank of Finland economist; dealing with the ‘legacy' of weak balance sheets is a ‘key open issue'
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne; BoE's Bailey supportive of initiative
Barroso confirms European finance ministers agree to EFSF fund rise
European Council set to meet in Brussels to discuss economic policy change and the Greek crisis; Barroso reveals finance ministers agree to raise European Financial Stability Facility fund
Credit rating agencies slam sovereign warning proposal
EU Commission proposal for credit rating agencies to give sovereigns three days’ notice of a rating change causes “grave concerns”
Europe must share blame for sovereign debt crisis: ECB’s Stark
Stark says European Monetary Union failures contributed to situations in Greece, Ireland and Portugal; calls for end to emergency stimulus policies
Turkey gets a second chance
After a near crisis in 2006, the central bank and its new governor are stocking to an inflation target of 4% for end-2007. Could this be the year Turkey finally convinces the world it has achieved sustainable non-inflationary growth? Justin Keay reports
Sunny outlook for Cyprus and Malta
The two islands have got their fiscal houses in order and are looking to join the euro in 2008, writes Justin Keay
Unhappy euro hopefuls
Prospects for adopting the euro remain remote for many EU countries in Central and Eastern Europe, and in the Baltics, writes George Kopits