News
Lithuanian market watchdogs sign supervision pact
Lithuania's central bank, the securitities comission and insurance watchdog signed on Dec 22 a cooperation deal aimed at cementing supervision of the country's financial sector.
BOJ's Hayami highlights risks to Japan economy
Japan's central bank governor said on Dec 22 the deflation risks that have hamstrung economic recovery for years were back in the picture, while the top economic planner hinted that growth may have already contracted.
India's exchange rate policy and control
This article by S Tarapore originally printed in the Business Standard looks at India's exchnage rate policy and control.
Romania to create secondary market of govt bonds
One of the priorities of Romania's future Finance Minister Mihai Tanasescu is to create a secondary market as quickly as possible for the sale and purchase of government bonds such as interest treasury bonds or discount treasury certificates.
Zambian banks implement clearing system by Dec 31
All Zambia banks are expected to subscribe to the Direct Debit and Credits Clearing (DDACC) stream of clearing transactions by Dec. 31.
Pakistan moves to ease banks' liquidity crisis
Pakistan's central bank on Dec 22 asked commercial banks to buy government securities against swap dollar deposits in an attempt to ease a liquidity crisis and meet a key donor condition, bankers said.
Kenyan shilling weakens further on IMF concerns
The Kenyan shilling extended its decline against the dollar but at a slower pace on Dec 22 amid continued concerns about the future of Kenya's IMF aid programmme, dealers said.
Algerian debt falls sharply, foreign reserves rise
Algeria's foreign exchange reserves rose to $9,691 million in October 2000, a 120 per cent increase on the foreign exchange reserves held at the end of 1999, figures published in the December 2000 edition of the IMF's International Financial Statistics …
Taiwan banks ordered to stop forex forward trading
Taiwan's central bank has ordered three foreign banks and one domestic bank, which were allegedly engaged in foreign currency manipulation, to suspend their foreign currency forward transactions, according to banking sources.
IMF stops loans to Indonesia over cbank law plans
The International Monetary Fund won't lend more money to Indonesia until the government finalizes planned changes to the law governing the central bank, Finance Minister Prijado Praptosuhardjo said.
IMF Koehler praises Turkey govt, but action needed
Horst Koehler, managing director of the International Monetary Fund, stressed on Dec 21 that the $7.5 billion in new financing the IMF is providing Turkey is a short-term measure to ensure a liquidity crisis in the banking sector doesn't derail wider…
Where does this leave Malcom Knight?
With the appointment of David Dodge as the next governor of the Bank of Canada came a question: Whither Malcolm Knight?
CNB to get rid of 1000, 5000 crown banknotes
The 1993 version of 1,000 and 5,000 crown banknotes will no longer be legal tender from July 1 2001. After this date it will no longer be possible to buy goods in shops with them, but they can still be exchanged at commercial banks for three more years.
Govt has no control over currency trading says MAS
The Monetary Authority of Singapore said the government does not exercise any control over currency trading in Singapore. Currency values are determined by market forces and the banks which trade them are merely "intermediaries" which allow them to find…
Venezuela slows depreciation rate of currency band
Venezuela's central bank said on Dec 21 2000 it would slow the depreciation of the central parity rate of the bolivar currency next year to 7.00 percent annually, from about 12 percent this year.
Cuba to aim for 5 percent economic growth in 2001
Cuba set a 2001 economic growth target of 5 percent on Dec 21 but said one of its strategic priorities would be reducing its swelling current account deficit.
ECB plays down danger of eurozone price difference
The European Central Bank said Dec 21 said diverging eurozone inflation rates were not a flaw of a one-size fits all monetary policy, provided that the differences proved to be only short-lived.
Welteke-far too soon to signal lower ECB rates
Bundesbank President Ernst Welteke said on Dec 21 Europe was well equipped to withstand an economic slowdown in the United States and that it was far too soon to signal lower interest rates in the euro zone.
No change in Cyprus rates post deregulation-c.bank
Interest rates in Cyprus are expected to remain steady in the immediate future as the economy dismantles the rigid rate control regime from January 1 2001, the island's central bank governor said on Dec 21 2000.
Mauritius automates banking settlement system
Mauritius' central bank on Dec 21 2000 launched an automated real time clearing and settlement system for the country's banking sector.
Bank of Portugal says 2000 growth 2.75% to 3.25%
The Bank of Portugal envisages that the country should register economic growth in 2000 of between 2.75 per cent and 3.25 per cent.
CNB Bank Board leaves interest rates unchanged
The Bank Board of the Czech National Bank CNB, which Dec 21 discussed the 12th status report on monetary and economic development, made no changes in the interest rates, spokesman Milan Tomanek told reporters after the session. The repo rate thus…