International Monetary Fund (IMF)
IMF's Lipton says Germany faces grave risks from global 'mismanagement'
Fund's first deputy managing director pleads with European powerhouse to 'lift its sights to the global horizon as well' as it carries on the work of the European project
IMF director delivers verdict on Abenomics one year on
Anoop Singh says Japanese prime minister’s stimulus plan has helped put Japan ‘at the centre of the global economic map’; tells Japan not to squander the opportunity
Slovene bank clean-up provides stress test dry run for ECB
IMF urges country to recapitalise banks quickly; academics see country as 'methodology experiment' for ECB, and warn comparisons with Greece and Cyprus could be self-fulfilling prophecies
IMF paper presents Global VAR model for analysing banking and sovereign risks
Researchers develop a global vector autoregression model that incorporates forward-looking contingent claims into its analysis of banking systems, sovereigns and macroeconomic conditions
Central Bank of West African States facing broken transmission mechanisms
Members of the IMF’s African department find the central bank’s ability to influence liquidity conditions in the WAEMU is restricted by the union’s ‘shallow’ financial system
Bank of Russia slashes forex intervention target
Halved intervention target brings rouble closer to free-float; IMF tells central bank to maintain reform momentum and resist calls to loosen policy
IMF paper warns half-hearted Japanese reforms would push up long-term rates
Researchers say long-term yields and banks’ interest rate exposures will increase if structural and fiscal reforms are not seen through to the end
IMF paper sets parameters for model short-term real interest rate
Working paper sheds light on a ‘crucial' but overlooked question - and shows that the elasticity of interest rate volatility plays a crucial role in explaining real interest rate dynamics
Structural reforms could soften austerity blow in eurozone core, paper finds
IMF researchers use integrated monetary and fiscal model to find core eurozone countries could offset the pain of austerity through structural reforms; the periphery, however, is another matter
G-20 inflation measure paves way for co-ordinating policy
New statistic aims to fill ‘data gap' identified in wake of the global financial crisis; follows growing calls for globally coordinated monetary policy as countries fret over effects of QE
IMF paper finds macro-prudential policy can offset loss of monetary autonomy
Researchers build DSGE model of the eurozone to find optimal monetary and macro-prudential mix; find macro-prudential policy boosts welfare and ‘lends a hand’ to monetary policy
Clamour for action on IMF quotas as US continues to stall
Central bank governors and finance ministers unite to urge ratification of IMF quotas reform to boost emerging market representation; Alexandre Tombini tells US to take action
BoE and IMF unveil changes in finance and fiscal departments
Bank of England appoints finance director and starts hunt for court of directors chair; IMF director of fiscal affairs stands down; Bank of Namibia assistant governor quits; and more
‘Unprecedented' US rate normalisation is global economy's biggest challenge, says IMF
Overshooting interest rates prompted by Fed taper may expose substantial financial weaknesses in both advanced and emerging countries, warns stability report; shadow banking of particular concern
Bank of Mongolia should brace for impact of runaway growth, says IMF
Article IV consultation concludes central bank has negotiated a number of hazards successfully, but says it must shore up its defences as the economy shows signs of overheating
IMF’s Blanchard flags ‘yet another transition’ as emerging markets struggle
IMF chief economist admits emerging market economies have performed worse than expected; calls for central banks to focus on credibility and dismisses US default as a ‘tail risk’ event
Robert Pringle’s Viewpoint: ECB needs to play ‘chicken’ to force reform of Europe’s banks
The ECB won a game of brinkmanship with governments to secure the establishment of the bail-out fund. It needs to use the same tactic with three clear elements to force through bank reform
IMF tells Turkey to fix flawed monetary policy framework
Article IV mission calls on central bank to ‘re-consider’ its policy framework, accusing policy-makers of targeting too many objectives and consequently failing to control inflation
Central Bank of Ireland urges continued austerity despite slowdown
Any scaling back of fiscal adjustment runs risk of unwinding positive effects of €28 billion consolidation effort ‘for the sake of small short-term fiscal easing', bank argues in quarterly bulletin
Lagarde says US has ‘special responsibilty' to unwind QE responsibly
IMF director says failure to raise US debt ceiling could seriously damage the global economy; warns emerging markets will have to adjust to new economic reality for remainder of the decade
Falling asset prices 'significantly associated' with onset of G-7 recessions
IMF working paper examining the usefulness of asset prices in predicting recessions in the G-7 countries finds equity price drops are larger and more frequent than house price drops
Basel III requirements could clash with new bail-in rules, warns IMF
Increased pressure on banks to rely more heavily on collateralised debt could combine with ‘depositor preference' rules to raise funding costs at a time when credit conditions remain tight
Reserve managers continue advance into Canadian and Australian dollars
IMF's latest Cofer data displays increasing popularity of Canadian and Australian currencies as reserve assets, while the euro reverses a previous decline
IMF warns Italian financial sector is ‘not out of danger'
Assessment finds Italian financial sector to have shown ‘remarkable' resilience, but slender profit margins and worsening loan quality have led to ‘pockets of vulnerability'