International Monetary Fund (IMF)
IMF: reserve managers’ ‘procyclical’ strategies exacerbated crisis
IMF says behaviour of reserve managers compounded pressures on financial stability; highlights potential conflict between investment strategies and stability mandates
IMF: Structural reforms will strengthen Mauritius’ balance sheets
IMF study of Mauritian economy shows economic fundamentals are strong but economy continues to remain vulnerable to global developments
Tuvalu joins IMF
Remote island of Tuvalu gains access to IMF resources after becoming 187th member at the Fund
Iceland poised to lift all capital controls
Central Bank of Iceland says full liberalisation could begin at the end of July, as króna continues to soar and inflation falls closer to target; draws on bilateral credit lines to boost reserves
Zimbabwe orders end to seizure of central bank assets
Zimbabwe's finance minister Tendai Biti stops auctioning of central bank assets in bid to revive beleaguered institution
Accounting change behind Saudi gold surge
Saudi Arabian Monetary Agency’s gold reserves more than double due to accounting adjustment; European central banks keep to agreement while Russia, Philippines buy
CentralBanking.com panel: ECB’s response to Greek crisis too slow
Mike Williams, Paul Mortimer-Lee, and Phil Davis say the ECB should have moved more swiftly to tackle the fiscal problems in Greece
Spanish banks’ reliance on ECB hits record levels
Data published by Spain’s central bank shows the country’s banks exhibiting an increasing level of dependence on the eurosystem, officials dismiss talk of bailout
Low savings widened Southern Europe's fiscal gap: IMF paper
Fund study finds lack of savings in Southern European countries caused large current account deficits to form in the run-up to the global financial crisis
IMF: central banks face unpopular choices in making up fiscal gap
An IMF study says central banks may come under pressure from governments to inflate their way out crisis
Belka approved as Polish central bank head
Former prime minister and finance minister Marek Belka gets Polish parliament's approval to take over as central bank chief; emphasises importance of zloty stability
Asian economies not autonomous from Europe: IMF's Shinohara
Fund deputy managing director Naoyuki Shinohara touches on lessons from the crisis and how shocks in Europe reverberated in Asia
IMF: Sub-Saharan banks are cost efficient
Fund study on Sub-Saharan Africa finds banks in the region are cost efficient, but can do better if regulation is improved
Eurozone seals deal on bailout fund
European finance ministers come to agreement on bond guarantee facility to support continent’s crisis-hit countries; bond markets reassured by move
G20 ditches controversial global bank tax
Finance ministers splinter on international banking levy, complicating individual countries’ promises to adopt a tax; group unites in call for Basel III to be completed by year-end
Financial Stability Review – ECB
European Central Bank says bond purchase programme cut tail and contagion risk but eurozone governments have a sizable task ahead of them
Mix of bad luck and policy fuelled credit boom in Eastern Europe
IMF research finds both bad luck and poor policymaking led to credit boom in new EU member states
IMF: Capital, not liquidity, limited post-crisis lending
Fund paper on bank lending finds that capital rather liquidity constraints froze lending following the 2007 sub-prime mortgage crisis
IMF: higher capital costs could suffocate growth in Aus, NZ
Fund study into post-crisis growth levels in Australia and New Zealand says biggest threat is higher capital costs
Markets support Poland’s central bank nominee amid opposition murmurs
Stock market gains as analysts welcome the nomination of former prime minister Marek Belka to head the central bank; confirmation expected despite grumblings from opposition politicians
Angolan central bank loses monetary policy mandate
Parliament votes to change law so central bank can “merely participate” in monetary and exchange rate policy; government will have responsibility while central bank assists in implementation
ECB’s Bini Smaghi: Greece cannot default
ECB’s Lorenzo Bini Smaghi says an orderly default is simply not an option to solving Greece’s fiscal burden
China denies reviewing eurozone bond holdings
State Administration of Foreign Exchange dismisses reports that it is appraising euro asset holdings; follows surge in T-bill purchases last week
Richmond Fed's Lacker: poor incentives created financial crisis
Richmond Federal Reserve president Jeffrey Lacker says 'too big to fail' no reason to save creditors