International Monetary Fund (IMF)
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
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