International Monetary Fund (IMF)
Dollarization of the banking system: Good or bad?
The IMF Working Paper 'Dollarization of the Banking System: Good or Bad?' assesses the benefits and risks associated with dollarization of the banking system. The authors find that the credibility of macroeconomic policy and the quality of institutions…
IMF Working Paper on central bank independence
The IMF Working Paper "A Political Agency Theory of Central Bank Independence" proposes a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks to an independent agency. The authors apply this theory…
Meltzer magic
Allan Meltzer and the dear old Bretton Woods twins haven't always been on the best of terms. As he told Central Banking journal barely a year and a half a go: the world bank's inefficiencies were a "scandal"; in many of its activities it "contributes…
Quote of the week from Hormats
"Had there been an IMF in the 1850s to insist that the United States create a strong central bank, its advice would have been bitterly resisted by many Americans".
IMF report argues for dollar peg change in Jordan
An IMF working paper has recommended Lebanon and Jordan carefully consider pegging their currencies to the euro or for a peg to a basket of currencies, as opposed to the current US dollar peg, according to the Daily Star. "Both Lebanon and Jordan are…
IMF urges Argentine reforms but approves loan
IMF managing director Horst Koehler has said Argentina comfortably met its fiscal and monetary targets as the final tranche in the $3bn (£1.8bn) aid package was approved, according to a BBC report.
Uzbekistan get IMF backing for convertibility plan
Horst Kohler assured Uzbekistan, reports Uzbek Television, that the IMF's staff are ready to provide the necessary assistance in regard to Uzbekistan taking on obligations arising from Article 8 of the IMF Charter by the end of 2003.
Central bank forex intervention in Colombia
The IMF Working Paper "Central Bank Foreign Exchange Market Intervention and Option Contract Specification: The Case of Colombia" aims to identify appropriate option contract specifications for effective central bank exchange market intervention. The…
Interview with IMF Managing Director Horst Kohler
In an interview on "We Should Not Lose More Time" with Germany's manager magazin, IMF MD Horst Kohler talks about ways out of the world economy crisis. He is also asked if the Americans and the Japanese might be trying to solve their problems by…
IMF praises Kenya's 'new chapter'
IMF managing director Horst Kohler said Tuesday he was impressed with the Kenyan governments efforts to tackle economic problems. Kohler held talks with President Mwai Kibaki and central bank governor Andrew Mulei during the visit, Business Day reported.
Statement on IMF Managing Director visit to Kenya
Statement to the press made by Horst Kohler, Managing Director of the IMF in Nairobi, on July 8, 2003. Kohler said that while the challenges were considerable, the Kenyan government has begun to tackle them in "a decisive manner".
IMF Paper: Central banks and financial stability
An IMF Working Paper titled "Responsibility of Central Banks for Stability in Financial Markets" asks What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the…
IMF Paper: Inflation and central bank independence
The IMF Working Paper "Inflation Performance and Constitutional Central Bank Independence: Evidence From Latin America and the Caribbean" explores the relationship between the constitutional entrenchment of central bank independence and inflation…
IMF's Krueger welcomes Iraq's new banknotes
Anne Krueger of the IMF on Monday welcomed plans to introduce a new issue of banknotes in Iraq. She commented that "the availability of an adequate supply of domestic currency, one that is both secure and includes appropriate denominations to facilitate…
IMF's Krueger on supply, demand & deadlines
In the speech 'Supply, Demand & Deadlines: A Workshop on Economics for Journalists' Anne Krueger of the IMF said economics is important-and so is reporting economics well. The IMF's role-acting alongside the World Bank, the UN, and national governments…
IMF statement on new chief economist Rajan
IMF Managing Director Kohler Proposed Raghuram Rajan as Economic Counsellor and Director of the IMF's Research Department, 2 July.
IMF, Ecuador talks to focus on reforms- Cenbanker
Sixto Cuesta, the deputy president of Ecuador's central bank, told Reuters that the IMF has concerns over the pace of reforms of the tax system and labour laws in Ecuador prompting the IMF to delay a $42 million payment.
Iraqi banks want to rejoin banking system
Faleh Salman, acting Iraqi central bank governor, said at the weekend that the Security Council's decision in May to lift sanctions meant "here is no impediment now" for the resumption of relationships across the world for Iraq's banks, according to a…
India joins IMF's pool of lenders
A statement from the Reserve Bank of India, reported by Associated Press, said that the IMF has selected India for the first time to become a member of its Financial Transaction Plan, which helps bail out countries facing currency crises or at risk of…
Croatian National Bank holds conference on reforms
9th international conference on the reforms, results and development experiences of transition and emerging market economies, organized by the Croatian National Bank, started in Dubrovnik on Thursday, June 26. This year's Conference will focus on banking…
Koehler : IMF to seek new accord with Argentina
IMF chief Horst Koehler has said the Fund will start negotiations over a new aid accord with Argentina. Speaking to reporters in Buenos Aires he said the agreement would seek to restore Argentina's financial institutions, according to a Bloomberg report.
Bank chief warns on Croatia's growing foreign debt
The governor of the Croatian national bank warned that the country's growing foreign debt was weakening the financial system, according to the HINA news agency. Speaking before parliament on Thursday 26 June, he said the external debt had reached 17.4bn…
IMF deputy says U.S. Fed has room to cut rates
Deputy IMF managing director Eduardo Aninat said in a speech that the Federal Reserve has played a valuable role in sustaining domestic demand and "retains room to provide further stimulus should the recovery falter", according to a report by Reuters.
Argentina to bar provinces from emitting scrip
The Argentine senate is likely to approve a law barring the provinces from producing quasi- currencies as required by the IMF under the loan accord, according to Bloomberg. The proposed law makes the central bank the only entity permitted to produce…