International Monetary Fund (IMF)
Pakistan set to appoint new governor in coming weeks
State Bank of Pakistan says new governor must be in place by beginning of September, but no frontrunners yet
PBoC announces plans to deregulate gold market
People’s Bank of China says it will provide more commercial banks with access to global gold markets to address growing demand
IMF: European debt measurements misleading policies
Fund study says European Union spending cuts neglect impact of policies on future
IMF: democracies outpace autocracies following commodity boom
Fund study shows following an international commodity boom, growth tends to increase in emerging market democracies, but decrease in autocracies
First FSAP for US flags commercial real estate woes
The US banking system at risk from commercial real estate woes, the IMF’s first Financial Sector Assessment Programme says
IMF: high indebtedness depresses growth
Fund study says higher initial debt levels have negative effect on growth
Kosovo’s incarcerated governor hit with fresh charges
Kosovo’s central bank governor Hashim Rexhep charged with allegedly abusing official position and receiving bribes
Asia’s low income countries will outpace other regions
IMF special advisor Min Zhu says Asian low income countries well placed to benefit from region’s boom
Hungary prepares bracing bank tax, wage caps
Hungarian parliament set to approve hefty bank levy to shear budget deficit; public sector wage freeze will affect central bank employees, despite ECB protests
Laos to liberalise cross-border transactions
Laos notifies IMF that it accepts plans to adopt measures that will end restrictions on international payments and transactions
RBA’s Stevens: Economic downturn will have long lasting implications
Reserve Bank of Australia governor Glenn Stevens says financial crisis will have longer lasting impacts to advanced economies
Price stability rightly remains sole focus of monetary policy: IMF
Fund directors say macroprudential measures, rather than monetary policy tools, should deliver financial stability; propose measures including dynamic provisioning framework
IMF on Peru’s de-dollarisation experiment
IMF uses Peruvian experience in last decade to show benefits of de-dollarisation policies
Analysts dub IMF commitments to Asia redundant
IMF makes strides to repair relationship with Asian region through series of commitments, analysts say move lacks substance
Uganda ready to shore up currency, says deputy
Bank of Uganda deputy governor Louis Kasekende calms markets with pledge to stabilise currency as security concerns grow after weekend bombings
IMF: Liberalisation of trade can curb Iraqi inflation
IMF study finds mounting inflation in Iraq arising from oil monopolists can be lessened through open market policies
Asia must be “attuned” to prevailing shocks, says Strauss-Kahn
IMF managing director Dominique Strauss-Kahn says Asia’s quick rebound from recession should be followed by policies to counter risk of overheating economies
ECB bond purchase effect wearing off, warns IMF
Fund cautions that stability risks are on the rise again as effect of European Central Bank’s foray into bond markets loses bite; southern eurozone to face refinancing contest with US, UK and Japan
Ukraine President in bid to strengthen central bank independence
Ukraine’s President Viktor Yanukovych submits draft bill to enhance central bank’s independence; measures lengthen governor’s term, increase number of deputies and prohibit party membership
Abandon pure inflation targeting: India’s Subbarao
Reserve Bank of India governor Duvvuri Subbarao says central banks should not persist with single focus on inflation targeting
IMF resumes financial aid to Ukraine
Fund approves new application for loans after funding was cut off in dispute over its burgeoning fiscal deficit
IMF: FDI undermined competitiveness in central and eastern Europe
An IMF study on real effective exchange rates reveals large volumes of foreign capital flows reduced competitiveness in central and eastern and European countries
Determinants of big banks’ credit default risk: IMF paper
Fund research finds factors that determine credit default risk for systemically important institutions are consistent with earlier literature on bank failures; business models, earning potential, economic uncertainty all play a part
Monetary policy analysis and forecasting in the G20
Paper published by the IMF develops model featuring extensive linkages between real and financial sectors