International Monetary Fund (IMF)
State Bank of Pakistan has 'critically low' reserves
IMF says Pakistan’s reserves position will remain critical even with ‘stellar’ programme adherence; urges changes to central bank law to boost independence
Troika warns Greek capital buffers may be insufficient
Troika's warning of ‘upside risks' if Greek banks are not ‘swiftly' recapitalised contrasts with optimistic statement put out by Bank of Greece on March 6
Bank of Mozambique wins IMF praise for anchoring inflation as economy takes off
IMF mission finds the Mozambican central bank is containing rapid credit growth and inflation as the economy grows amid heavy government investment
IMF minutes to go public after three years, not five
IMF plumps for greater transparency for the majority of its board meetings, but those used to discuss allocation of fund resources will stay secret for five years
Ukraine wins EU rescue package as finance ministry threatens debt restructure
European institutions will come up with €11 billion over the next five years; European Commission proposes international donor co-ordination mechanism
Nowotny calls on IMF to help address global spillovers
IMF surveillance function should be further developed to help overcome negative spillovers in an increasingly inter-connected world, Austria governor says
People: IMF hires Vitor Gaspar; Poland deputy reappointed
Former Bank of Portugal and ECB research head Vitor Gaspar will become director of fiscal affairs at the IMF; Piotr Wiesiołek handed second term at National Bank of Poland; and more
Ukraine calls on IMF help as NBU focuses on financial stability
New government asks IMF and other international lenders for a bail-out; interim president tells central bank staff they must restore public confidence in the banking system
IMF praises full-tilt reform at Paraguayan central bank
The central bank has introduced a string of reforms recently, including an overnight lending facility, a tighter benchmark rate and bi-annual inflation reports
IMF statisticians create composite index of financial inclusion
A working paper outlines the design of the index and then applies it to a sample of 31 countries; Maldives comes out on top while Chad gets the wooden spoon
G-20 pledge signposts en route to 'normal' monetary policy
Central bank governors and finance ministers in the world's biggest economies promise to be ‘mindful of impacts on the global economy' as they exit unconventional monetary policy
IMF praises ‘dramatic’ turnaround in Spanish bank sector
Final report on Spain’s financial sector reform programme says ‘steadfast’ implementation paid dividends, but warns of a number of alarming trends still prevalent in the financial sector
RBI and IMF clash over pace of tightening
Staff report from the International Monetary Fund calls for ‘significant increases’ in policy rates, but the central bank is reluctant to cut off the economic recovery
G-20 governors should co-ordinate exit, says IMF
Fund recommends greater co-ordination of monetary policy as well as negative interest rates at the ECB and devaluations in emerging markets, in report to G-20
'Cornered' Argentina introduces new inflation index
New inflation index announced by the government yesterday is a step in the right direction, according to analysts, who nevertheless remain concerned about how data is collected
IMF paper finds highly indebted nations can still grow fast
Results of a new study contradict findings of Reinhart and Rogoff, who argued that growth declines at debt of more than 90% of GDP
Cœuré defends Troika to European Parliament
ECB’s top negotiator with European Parliament defends the adjustment programmes shaped by the Troika and tells politicians not to ‘blame the fire brigade for the fire damage’
Countercyclical prudential policies have ‘important implications' for monetary policy
Using a countercyclical macro-prudential instrument in addition to manipulating interest rates improves welfare, IMF paper finds
IMF mission to Iran urges monetary tightening to ‘entrench' recent disinflation
Article IV statement calls for simplified central bank mandate and greater focus on price stability; says new authorities are ‘well aware of challenges and need to advance reforms'
IMF sees ‘limited scope’ for RBA rate cuts
Article IV staff report says Reserve Bank of Australia’s accommodative monetary policy is ‘broadly appropriate’ but warns the central bank could struggle to offset further shocks
IMF voices concern over ‘weakening of central bank independence' in Bolivia
Any changes stemming from new constitution should ‘conserve supremacy of central bank law', says IMF; analyst says independence has not led to price stability
Asia uses macro-prudential policies to greater effect, IMF paper finds
Macro-prudential policy has curbed credit growth and bank leverage in several Asian countries over the past decade; loan-to-value ratio caps and housing tax measures among most effective instruments
Lagarde lends weight to global clamour for policy co-ordination
IMF managing director joins Rajan and others in renewed calls for monetary policy to take into account international spillovers, as Fed taper rocks emerging markets
Aid ‘surges' benefit countries where currency or inflation is allowed to rise
If large inflows of aid are ‘sterilised' in an attempt to curb inflation or maintain a set exchange rate, the economy will not feel the benefit of aid, a new IMF paper finds