News
Sanctions threat to 'opaque' tax haven
UK - The government is considering imposing sanctions on Jersey, one of the Channel Islands, if it fails to comply with international action to force tax havens to improve financial transparency.
Debt relief urged for poorest seven countries
UK - Aid donor countries are to meet in London later this week to consider possible new financial support - including foreign debt relief - for the seven poorest countries of the former Soviet Union.
RBA says Australia's prospects pretty good
AUSTRALIA - The Reserve Bank of Australia said on Monday there were good reasons to be confident about the domestic economy over 2002, but warned that Japan remained the biggest risk to a global recovery.
BOK to introduce cyber credit card in October
SOUTH KOREA - The Bank of Korea (BOK) is moving to introduce an online cyber credit card which will be available in October this year.
Bush gaffe hits yen
US - A remark by US President George W Bush about "devaluation" in Japan has caused confusion in the currency markets.
UK to encourage Islamic mortgages
UK - Moves by the UK Treasury and the Bank of England to encourage Islamic mortgages, investments and current accounts in Britain may be under way.
India frees up bank investment rules
INDIA - Shares in India's leading banks have jumped by as much as 20%, after the government relaxed its rules on foreign investment.
Bangladesh talks with IMF fail
BANGLADESH - Negotiations between Bangladesh and the International Monetary Fund for an emergency balance of payments loan have failed.
Venezuela c bank to start dollar auctions Monday
VENEZUELA - The Venezuelan Central Bank will start Monday with a daily auction of U.S. dollars to the currency market to guarantee supplies of dollars while the bolivar adapts to a new free-floating exchange system.
Crucial factors for online banking
MALAYSIA - In order to provide Internet or online banking, banks operating in Malaysia are required by Bank Negara (BNM) to employ the services of a well mandated or a trusted security system.
IMF Press Briefing by Thomas Dawson
PRESS BRIEFING - Transcript of a Press Briefing by Thomas Dawson, Director, External Relations Department, International Monetary Fund, 13 February.
IMF News Brief
NEWS BRIEF - IMF's Kohler: Good Start to New Relationship with Argentina IMF Managing Director Horst Kohler said in Washington, D.C. today (13 February).
Vietnam c bank governor has no bank account-media
VIETNAM - Vietnam's central bank Governor Le Duc Thuy, who is leading a campaign to reduce the country's reliance on cash transactions, has admitted he does not have a credit card, or a personal bank account.
Dutch c bank issues credit derivatives guidelines
NETHERLANDS - The Dutch central bank said Friday that it has issued guidelines to the Dutch financial sector on the use of credit derivatives to spread risks.
Riksbank's general council backs extra dividend
SWEDEN - The General Council of Sweden's Riksbank Friday presented a proposal to the Swedish parliament recommending that an additional SEK20 billion of the central bank's net income for 2001 be transferred to the Treasury.
Niedermayer to CNB board with effect from 27 Feb
CZECH REPUBLIC - President Vaclav Havel today re-appointed central bank CNB vice-governor Ludek Niedermayer to the Bank Board for another six-year term, with effect from 27 February.
Polish bank cautious about economic plan
POLAND - Two weeks after Poland's government issued an ambitious five-year strategy to kick-start slumping economic growth, the National Bank of Poland has maintained a stony silence.
Fed ready to raise rates this year - Guynn
US - The Federal Reserve may start reversing its series of 11 interest rate cuts if a stronger-than-expected recovery this year rekindles inflation concerns, says Jack Guynn, president of the Federal Reserve Bank of Atlanta.
Australian Reserve Bank's credit-card plan slated
AUSTRALIA - MasterCard said it will consider scaling back its Australian operations if the central bank proceeds with its plan to cut credit-card fees and open the credit-card system to new participants.
Latvian parliament approves bank's vice president
LATVIA - The Latvian parliament Thursday almost unanimously approved as central bank vice-president Andris Ruselis, recommended for the office by Bank of Latvia president.
Barclays chief hits out at watchdogs
UK - The head of banking giant Barclays has warned City watchdogs against imposing overzealous regulation, or risk seeing financial services business lost abroad.
Gold bugs should not get too excited
AUSTRALIA - Predictions of a sustained increase in gold prices are not expected to be realised. The reason for the lack of a sustained revival is the poor business foundations of the gold industry.
Some EU countries already vying for No. 2 ECB spot
EUROPE - Just days after Wim Duisenberg announced he would resign next year as president of the European Central Bank, some countries began suggesting they would like one of their own in the central bank's No. 2 seat, which opens up at the end of May…
Czech central banker opposes ERM
CZECH REPUBLIC - The Czech Republic should spend as little time as possible in an exchange-rate mechanism prior to adoption of the euro, said the central bank's governor, Zdenek Tuma.