International Monetary Fund (IMF)
IMF approves larger credit line to Mexico
Fund expands flexible credit line arrangement to $88 billion; confident Mexico's policies "will remain strong"
Further key decisions loom in Greek negotiations
Major decisions remain in negotiations over bail-out; IMF staff insist on cuts to primary surplus target that have met with opposition; ECB may restore eligibility of Greek bonds as collateral
Greek deal unlocks funds but delays debt relief
Deal allows possibility of future debt relief but drops IMF’s stronger demands; pushes most difficult decisions back
Lipton: co-ordinated approach to capital flows ought to be considered
IMF first deputy managing director says it is time for ‘new generation of reforms’; capital flow reversibility has costs as well as benefits
Lagarde: Kazakhstan central bank needs clear mandate
Floating the currency was "just the beginning", IMF chief says; urges update of monetary and fiscal policy frameworks
Arab countries must improve macro-prudential arrangements – IMF paper
Many Arab countries need to improve their macro-prudential policy frameworks, an IMF working paper argues; regulators need policy mandates and better information
Further tightening may be needed in Colombia, IMF says
Staff in Washington, DC, welcome “resolve” of central banking in latest tightening cycle; current account deficit and inflation expectations may call for further action
IMF staff encourage central Asian economies to overcome ‘fear of floating’
Even in economies with supposedly free-floating currencies, central banks have a hard time resisting the urge to intervene, IMF report says
Iran must contain liquidity growth to safeguard inflation success, IMF’s Lipton says
Speaking at the Iranian central bank, David Lipton discusses how inflation can be anchored in single digits, after steadily declining in past year
IMF’s Rennhack outlines challenges facing LatAm economies
Robert Rennhack sees terms of trade driving real exchange rates; tells audience in Mexico region as a whole is in recession
IMF issues stark warning to UK on EU exit
Bank of England could find itself battling market dislocation and “substantial” economic slowdown if UK votes to leave EU, IMF warns; Christine Lagarde dismisses accusations of political meddling
Eurozone finance ministers hold extraordinary meeting over Greece
Finance ministers meet in Brussels over Greek debt; recent negotiations marked by public disagreements between IMF and Greek government
German supervisors need more granular data – IMF staff
Staff say concerns about a housing bubble “look premature” but better data would help the authorities be prepared for imbalances; urge faster progress on structural reforms
Inflation targeting ‘key' for successful de-dollarisation – IMF working paper
Peru's success story suggest "sound" monetary and macro-prudential policy can help de-dollarisation, paper says; favourable global environment helped in case of Peru
World Bank report sees risks if Mozambique continues to raise rates
Report praises efforts of central bank so far but says further tightening could harm certain sectors of the economy; exchange rate volatility having adverse effects on debt
Sub-Saharan African countries need more responsive policy – IMF staff
Some central banks “impeded” in pursuit of primary mandate; staff report discourages government and structural development financing
IMF staff weigh options for tackling Chinese NPLs
Technical note authored by three IMF employees considers how securitising NPLs or converting them to equity might work in the Chinese context; latest CBRC figures show the stock is growing
Paper explores reserve management in closed economies
Working paper published by IMF presents intertemporal optimisation model designed to help assess how closed economies should use their reserves when guarding against current account shocks
Turkey vulnerable to sudden stop, IMF warns
Central bank action on rates, operating framework and reserves would help shore up the country’s weak external position and tame inflation, fund says
Macro-prudential policies should apply to shadow banking sector, researchers argue
Macro-prudential policies can have substitution effects between bank and non-bank credit, working paper says; macro-prudential policy should be extended towards the non-bank sector
Ukraine unifies main rate while easing policy
Ukraine’s central bank moves to “streamline” operational framework, while adopting an easier stance in the face of falling inflation
Swiss National Bank loans $200m to Ukraine
Switzerland’s central bank will loan $200m to its Ukrainian counterpart to replenish its reserves; move comes as political uncertainty clouds future of Ukraine’s IMF funding
IMF director calls for fiscal expansion in eurozone
Greek attempts to consolidate fiscal position by increasing top tax rates ‘simply not working’, director says
IMF will consider macro-prudential policies in capital flow ‘stock-take’
Lagarde sheds light on stocktaking exercise that will use Article IVs over past three years to assess how IMF’s guidance on “capital flow management” has worked in practice