International Monetary Fund (IMF)
IMF’s Nehmat urges eurozone fiscal adjustment plan rethink
Deputy managing director of the IMF says some eurozone countries’ fiscal targets for 2013 may need to be altered given growth slowdown; also supports deeper European integration
IMF paper examines capital flow management
Working paper considers methods of managing large-scale capital flows in Czech Republic, Poland and Romania; argues capital controls should not be used
IMF appears to back Ukraine involvement in Vienna Initiative
European mission head at IMF said to offer support for National Bank of Ukraine participation in Vienna Initiative
IMF paper relates fiscal consolidation and growth
Paper discusses relationship between fiscal consolidation and short- and long-run growth; warns that rapid consolidation can be harmful
IMF paper assesses welfare effects of monetary integration
Paper considers welfare effect of monetary union in Africa; finds significant benefits due to policy credibility and macroeconomic stability
IMF paper analyses savings and investment response to shocks
IMF researchers study response of savings and investment to income shocks; find high volatility of permanent shocks creates “volatility trap”
Euroclear announces new chairman
Marc Antoine Autheman elected to take over as chairman from January 1, 2013; becomes deputy president in the meantime
Lagarde offers views on globalisation
Christine Lagarde discusses global connections and the future; takes feminist line in speech to graduating students
BoE minutes reveal ‘finely balanced’ decision on QE in UK
Minutes from May meeting of Bank of England’s Monetary Policy Committee show uncertainty among policy-makers over the decision to leave asset purchase programme at its current level
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth
IMF paper quantifies structural subsidies for Sifis
Researchers from the International Monetary Fund estimate value of subsidies implied by expectations of government support for Sifis; find a sizeable cost advantage for these institutions
IMF paper analyses situation in Togo
Researchers evaluate public investment surges, growth and debt sustainability in Togo; find very large increase in public investment would have positive macroeconomic effects in the long-run
Berlin and the Bundesbank in spat over IMF
The Bundesbank has played a pivotal role in building Germany’s reputation as defender of monetary discipline at the IMF. But Berlin’s efforts to bail out Greece have damaged this reputation
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
IMF paper studies credit growth in the Philippines
Research analyses determinants of credit growth and interest margins in the Philippines and Asia; finds factors such as higher growth and lower inflation reduce net interest margins
Central Bank of Ireland’s McMahon lands at UK accountancy firm
Former head of financial institutions at Central Bank of Ireland appointed global head of bank regulation and restructuring at accountancy firm, Mazars
IMF paper evaluates credit risk assessment methods
Working paper compares cumulative accuracy profile and receiver operating characteristic analysis methods for evaluating credit risk
IMF paper investigates capital inflows relationships with other factors
IMF researchers study determinants and inter-relationships between capital inflows, financial development and domestic investment in developing countries
Lagarde hails Turkish reform success
Christine Lagarde completes first visit to Turkey since taking over as managing director at the IMF; praises progress in the country but says economy is now at "critical" juncture
IMF paper looks at alternative monetary policy rules for India
International Monetary Fund researchers show forward-looking rules for monetary policy formulation provide better results in India
IMF research examines links between governance and stress events
IMF working paper discusses correlation between quality of national governance and the likelihood of economic stress events
IMF report backs 'appropriate' Swiss currency floor
IMF supports Swiss National Bank currency floor policy; says floor is “appropriate" and discusses relative success to date
IMF research examines impact of China on commodity markets
International Monetary Fund working paper examines impact of aggregate activity in China on commodity markets; finds Chinese activity impacts majorly on oil markets
Lagarde calls for ‘gradual’ austerity moves
Lagarde calls for gradual and country-specific approach to austerity; says supply-side measures needed to achieve sustainable growth