International Monetary Fund (IMF)
Bahamian central bank proposes law change to cap government debt holdings
New legal framework for Bahamas central bank would enforce “comprehensive” limits on government debt; holdings of long-term government debt stand at 12.52%
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
IMF recommends Spain take a tougher approach on NPLs
Fund advises central bank to set up a group to oversee public asset management company Sareb
IMF: global recovery is broad but incomplete
Fund ups its growth forecasts but says many are missing out; Maurice Obstfeld urges policymakers to take action while “times are good”
Iraq suspends dollar payments to some Kurdish banks
Future of agreement on oil revenues unclear as country faces significant economic problems
Data shows growing medium-term risk for global economy – IMF
Researchers assess three types of financial data as predictors of GDP growth risk
Developing states can improve inflation targeting – IMF paper
The research finds a bias in favour of results in line with the academic consensus
Race against time for fiat currencies – Lagarde
IMF managing director envisages digital currencies taking over in countries with “unstable currencies”, but infrastructure has to be improved first
Low wage rises may hamper inflation in Sweden – IMF
Higher housing prices and private debt call for stricter amortisation requirements
Czech exchange rate floor helped fight deflation – IMF paper
Range of methods imply the exchange rate floor was an effective measure, having been employed after hitting the zero lower bound
IMF’s Lagarde gives update on women’s empowerment pledges
The fund has teamed up with the UK to provide ‘gender-budgeting’ assistance to countries requesting financial management support
IMF paper calls for global co-operation on big data
Discussion note urges statistical authorities to “step up” their involvement in big data projects and develop frameworks for knowledge sharing
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable
Kosovo governor Hamza resigns to become finance minister
Deputy governor for financial supervision named as interim head
Fiscal stabilisation spurs growth in low fixed-asset sectors - IMF
Those with difficulty raising external funds benefit most from policy, paper argues
Book notes: Advice & Dissent: My Life in Public Service, by YV Reddy
An engaging look into the private life and career of a former governor of the Reserve Bank of India, and arguably one of the best central bankers of the twentieth century, YV Reddy
IMF explores Balkan female employment conundrum
Fund shows policies are needed to secure both supply and inclusion of women; quality of institutions should be improved
IMF paper explores relation between greenhouse gas emissions and GDP growth
Research studies how advanced economies are transitioning to low-emissions economic models
Malawi’s IMF programme ‘fell short’ on growth
Future IMF support will aim to foster growth and alleviate poverty in Malawi, as ECF fails to provide adequate resilience to external shocks
Tougher action needed on China debts – research body
Asean research office says corporate debt needs close monitoring, even if immediate crisis is unlikely
IMF paper explores sustainability of price rises in Colombia
House prices have increased more than 110% in real terms in major cities, but houses are just 13% overvalued
IMF’s Adrian sketches macro-financial model of term premium
Tobias Adrian outlines a new way of modelling financial cycles within a New Keynesian framework, which produces a good fit with empirical observations on the term structure
Archive – Interview: Allan Meltzer
Robert Pringle talks to Allan Meltzer, Carnegie Mellon professor and chair of the US Congress’s International Financial Institution Advisory Commission (the “Meltzer Commission”); first published in February 2003
China’s current credit trajectory is ‘dangerous’, IMF warns
Fund revises up China’s GDP growth forecast, but warns debt-fuelled growth is unsustainable