International Monetary Fund (IMF)
Egypt asks IMF for loan
IMF announces Egypt has requested a loan of $10 billion-12 billion
Lipsky to leave IMF in August
First deputy managing director John Lipsky says he will not seek a second term; will stay on as special adviser until the autumn
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
Thai governor becomes latest to attack IMF capital controls framework
Bank of Thailand governor Prasarn Trairatvorakul’s criticisms of IMF framework on capital controls come after similar comments from Brazilian, Indian officials
IMF re-examines link between exchange and inflation rates
IMF examines link between nominal exchange rate and inflation
Don’t hand over reins to markets: ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi sets out four reasons why sovereigns’ fates should not be left in the hands of markets
Kazakhstan may convert some reserves into yuan: reports
Governor of the central bank says he expects the yuan to be “globally recognised as a reserve currency” this year; currency swap deal on the cards
Yellen defends IMF proposals on capital controls
Federal Reserve vice-chair takes Fund line on framework to tackle capital inflows; follows criticism of framework from Indian, Brazilian officials
Phasing in Basel III rules eases economic costs: IMF paper
Fund study shows that implementing higher capital and liquidity requirements over a lengthy period of time can help reduce the macroeconomic costs of enforcing such rules
Trichet signals no change in June as ECB holds
Rates likely to remain on hold until third quarter
Bailout package offers hope for Portugal
Lisbon accepts €78 billion bailout as part of deal to reduce deficit to 3% of GDP by 2013; analysts say preliminary terms of deal positive for sovereign
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
HKMA’s Pang warns of hot pockets in emerging Asia
Hong Kong Monetary Authority deputy chief executive Peter Pang highlights policymakers’ concerns of growing capital inflows in emerging markets
IMF urges emerging markets to tighten monetary policy
IMF Regional Economic Outlook for Asia report says emerging market central banks must tighten monetary policy to stave off inflation; acknowledges limitations of monetary tools
IMF paper builds US, euro area financial conditions indexes
Fund paper creates financial conditions indexes to forecast economic activity in the US and euro area
Kosovo’s acting governor to take helm of central bank permanently
Kosovo selects acting head of Central Bank of the Republic of Kosovo Gani Gërguri to replace former governor Hashim Rexhepi
IMF paper on enhancing stress-test framework
Fund study examines simple techniques to improve risk sensitivity in bank stress test exercises
Financial cycles have strong economic implications: IMF paper
Fund study examines whether the close correlation between business and financial cycles is synchronised or coincidental
RBI’s Subbarao: IMF capital control proposals lack flexibility
Reserve Bank of India governor Duvvuri Subbarao says IMF proposals on capital controls leaves little room for policymakers to exercise discretion
Officials gather in DC for IMF/World Bank spring meet
IMF/World Bank spring meetings address global economy and financial stability, governance progress and Japanese disaster
Ethiopia’s Atnafu calls IMF to sharpen focus on LICs
National Bank of Ethiopia governor Teklewold Atnafu calls for Fund to scale up resources in lower-income countries
Portfolio correlation bias poses systemic threat: IMF paper
Fund paper finds evidence of systemic threat associated with correlation bias in allocation of investment funds
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
Standard & Poor’s changes US outlook to negative
Rating agency cites growing deficit and debt as rationale behind the change