G7
Brazil's Meirelles: Bretton Woods needs a rethink
Both the International Monetary Fund (IMF) and the World Bank need to address their legitimacy as part of the policy debate on a Bretton Woods II, said Henrique Meirelles, the governor of the Central Bank of Brazil.
INTERVIEW: Raghuram Rajan
Raghuram Rajan, a professor at the University of Chicago and a former chief economist at the International Monetary Fund (IMF), talks to CentralBankNews.com about the future role of the Fund.
G7 statements aid currency management
The G3 currencies move in the direction intended by the G7's communiques, research from the European Central Bank (ECB) indicates.
G7 voice concern on yen's rise, action likely
The G7 economies on Monday indicated that they could act on the yen's appreciation after the Nikkei 225 index of leading shares in Tokyo slumped to a 26-year low on fears a strong currency would cripple the country's exporters.
SA's Mboweni challenges IMF and World Bank
Tito Mboweni, the governor of the South African Reserve Bank, has lashed out at the Bretton Woods institutions, labelling them vehicles for developed economies to control developing and emerging-market countries.
Mboweni on governance of global finance
In this speech, Tito Mboweni, the governor of the South African Reserve Bank, argues that the G7 is "an exclusive economic club for rich countries and has outlived its usefulness".
Trichet: joint action sets precedent
Monday's decision to provide broad access to liquidity and unlimited dollar funding marked a "world premiere" in exceptionally-confident cooperation between central banks, Jean-Claude Trichet, the president of the European Central Bank (ECB), has noted.
G7 plan "a major success": Riksbank's Ingves
The five-point plan agreed by the G7 finance minsters and central bank governors should help improve confidence in financial markets, said Stefan Ingves, the governor of the Riksbank.
Multilateral agencies begin Georgia mission
Officials from multilateral agencies landed in Georgia on Monday to begin a 13-day needs-assessment mission.
IMF to loan Georgia $750m
The International Monetary Fund (IMF) looks set to lend Georgia $750m to help rebuild the country in the aftermath of its conflict with Russia.
Georgian violence prompts rate cut
The National Bank of Georgia has cut rates to combat the economic impact of the country's conflict with Russia.
Italy's likely finance minister knocks FSF plans
Giulio Tremonti, an Italian politician set to become the country's next economy minister, has claimed that the Financial Stability Forum's regulatory response to the subprime crisis is too lax.
G7 backs FSF recommendations
Central bank governors and finance ministers from seven of the world's leading economies have welcomed the Financial Stability Forum's (FSF) regulatory response to the credit crunch and are set to implement several of its recommendations by the end of…
UK chancellor wants action on market crisis
Alistair Darling, the UK chancellor, has called on his G7 counterparts to formulate a "clear and detailed plan of action" to combat the turmoil in world markets.
EU should be "driving force" in SWF regulation
The EU should be at the forefront of the effort to supervise sovereign wealth fund investments, the European Commission has said.
ECB's Trichet reaffirms price stability commitment
Jean-Claude Trichet, the president of the European Central Bank (ECB), explained the thinking behind the eurozone lender's recent policy decision and shift in stance.
G7 ministers discuss IMF gold sales
"There was an acceptance among the G7 that resources should be raised by selling gold," said Tomasso Padoa-Schioppa, Italy's finance minister, who is also the head of the International Monetary Fund's (IMF) steering committee (IMFC).
Subprime writedowns could total $400 billion: G7
Central bankers and finance ministers from the group of seven most powerful economies now believe subprime-related writedowns could far exceed previous estimates, Peer Steinbruck, Germany's finance minister, revealed.
Liquidity pressures could return, says FSF report
Money-market tensions could yet re-emerge, a group of leading central bankers and policymakers warned on Monday.
Pressure rising over currency, says China's Yi
The contrast between US and Chinese monetary policy is exacerbating the pressure on the People's Bank of China to allow the renminbi to appreciate.
Crisis not yet over - Switzerland's Hildebrand
The subprime crisis that triggered the credit market turbulence is undoubtedly not yet over and further global financial market turbulence is likely to slow down the Swiss economy, said vice-president of the Swiss National Bank Philipp Hildebrand in a…
China fights back over G7 currency criticisms
Wu Xiaoling, the deputy governor of the People's Bank of China, said the country's current policy on the appreciation of the renminbi was a responsible one despite claims to the contrary by the world's leading finance ministers.
Strong dollar message "very important": Trichet
Jean-Claude Trichet, the president of the European Central Bank, said it was "very important" that the US underlined its message that a strong dollar was in the US national interest.
Regulators to cooperate on rules to combat crisis
Financial regulators from the world's leading economies are set to draft recommendations to avert global instability in response to the recent market turmoil.