International Monetary Fund (IMF)
Currency crises and foreign reserves-IMF paper
RESEARCH PAPER - In a new IMF working paper, economist Piti Disyatat asks how far a government will run down its currency reserves in defence of a fixed exchange rate. He also uses an optimizing model of currency crisis to determine whether or not a…
On the Long and Short of Central Bank Independence
This paper by Alberto Musalem of the International Monetary Fund finds that higher central bank independence increases fiscal discipline and results in lower inflation. However, it finds that higher central bank independence does not necessarily lead to…
Mussa to step down as IMF economic counsellor
Michael Mussa is to step down as the IMF's Economic Counsellor and Director of the Research Department at the end of his current term in the position, Managing Director Horst Kohler announced on Mar 7, 2001.
Central Bank of Iceland Q1 monetary bulletin
The Central Bank of Iceland published it quarterly Monetary Bulletin on Mar 6, 2001. There is an overview of economic developments in Iceland and the measures taken to slow the economy. There is also an article by chief economist Mar Gudmundsson on…
Standards assessment puts pressure on IMF budget
The IMF's new role assessing how well member countries meet standards fordata dissemination, monetary and fiscal transparency, and bankingsupervision is starting to put pressure on the Fund's budget according to aself-evaluation released by the Fund on…
Currency boards: More than a quick fix?-journal
In the latest issue of the journal Economic Policy, Atish R. Ghosh and Anne-Marie Gulde from the International Monetary Fund, and Holger C. Wolf of George Washington University and NBER have written a paper "Currency boards: More than a quick fix?" This…
Turkey seeks World Banker's help to recover
Senior Turkish World Banker Kemal Dervis arrived in Ankara on Mar 1, 2001 for talks with the prime minister that many are hoping will herald the formation of a new economic team capable of restoring calm.
IMF establishing international capital market dept
The International Monetary Fund (IMF) will establish an International Capital Markets Department to enhance its surveillance, crisis prevention and crisis management activities, the Fund announced on Mar 1, 2001.
IMF advises integrating Korea finance supervisors
A report from the International Monetary Fund has advised South Korea that the Financial Supervisory Commission and the Financial Supervisory Service merge into a single organization, with the status of its chairman on par with the central bank governor.
IMF, Kenya to negotiate on reform package
An IMF team will visit Kenya next month to push for further reforms to put the country's aid programme back on track, officials said on Feb 28, 2001.
Selected IMF working papers published
The IMF has recently published a number of working papers on subjects ranging from inflation targeting, central bank independence, to endogenous growth. Links to the papers are given.
E-banking conference to be held in Philippines
Philippine government officials, bankers, businessmen, academics, and other observers of the Philippine economy will tackle the challenges and opportunities of electronic banking at a conference being held by the Philippines central bank.
IMF sees framework for 'smooth' Lithuanian repeg
The International Monetary Fund (IMF) said on Feb 27, 2001 Lithuania had created conditions for a smooth repeg of the litas currency to the euro from the dollar next year and saw prospects for improved economic growth in 2001.
Indonesia, IMF agree on c.bank independence-Ramli
Indonesia's chief economics minister Rizal Ramli said on Feb 26, 2001 he had reached agreement with the International Monetary Fund on the need to maintain the central bank's independence but stopped short of saying a long running deadlock had been…
IMF to assess Finnish financial sector
Finland will help the International Monetary Fund to prepare an assessment of the Finnish financial sector, which is a new IMF tool for monitoring member country economies, the central bank said on Feb 26.
Breaking the Cycle of World Poverty-Horst Koehler
Horst Kohler, Managing Director of the International Monetary Fund gave a speech at the conference on "Child Poverty, Education, and Health" in London, February 26, 2001. He says he has learnt a lot from his discussions with sub-Saharan African leaders…
Turk PM Ecevit under fire for lira float turmoil
Turkish Prime Minister Bulent Ecevit faces mounting fury at home after sending the lira currency into freefall to try to curb a financial crisis and resisting pressure to reshuffle his beleaguered government.
Reforming the International Fin System-IMF Kohler
The managing director of the International Monetary Fund Horst Hoehler has written an article titled "Reforming the International Financial System" published in The Berne Union 2001 Yearbook, February 2001.
Turk cbank floats lira, to adopt inflation target
The central bank of Turkey said Feb 22, 2001 that it's shifting from a monetary framework centered on the exchange rate to one centered on formal inflation targeting, which will give the bank more flexibility and independence.
Turk banks scramble for cash, rates over 4,000 pct
Turkish overnight repo and money rates soared to unprecedented levels on Feb 21, 2001 as the market scrambled for cash in the midst of a deepening financial crisis sparked by a political row.
Belarus agrees on IMF terms to launch monitoring
Belarus accepts the terms of the International Monetary Fund that require implementation of a monitoring program, the Belarus premier Vladimir Yermoshin told journalists on Feb 21, 2001.
Indonesian Wahid's advisers say rethink c.bank law
Prominent foreign advisers to Indonesia's embattled president, including ex-Fed chairman Paul Volcker, urged him to stick with the IMF and to drop current proposals to revamp the central bank law which have become a nasty thorn in relations with the Fund.
Turkish cbank governor-no reason to devalue lira
Turkey has no reason to devalue its currency, as the central bank is firmly keeping monetary aggregates in line with the IMF-backed anti-inflation program, central bank Governor Gazi Ercel told the CNN Turk TV channel on Feb 19, 2001.
Turkish market opens 4.95 quadrillion lira short
The Turkish market opened a massive 4.95 quadrillion lira ($7 billion) short after banks rushed to foreign on Feb 19 draining nearly one fifth of the country's international reserves due to a row between the government and the president.