International Monetary Fund (IMF)
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Macro-pru tools can cut risk of credit bust – IMF paper
Authors explore whether building buffers can increase resilience over the medium term
IMF modifies deal with Argentina
Fund disburses $7.5 billion ahead of elections despite finding government failed to meet some targets
Prospects for Palestinian economy ‘bleak’, IMF says
Fiscal crisis and “volatile” security situation undermine hopes of recovery
Generative AI has ‘broad systemic implications’ – IMF
Economists argue regulators need to take action now to mitigate risks
Milei will meet with IMF ahead of board decision on loan
Argentine opposition leader calls central bank “thieves” and repeats pledge to abolish it
Egyptian president gives acting governor one more year
Abdallah has continued programme of tighter monetary policy and devaluation
Ecuadorean candidate promises to spend central bank reserves
Measure could imperil central bank independence
Uganda cuts rate for first time since 2021
Central bank head refuses to comment on World Bank decision to halt funding
RBI’s Das calls for action on debt distress
“Bigger and stronger” IMF could do more to tackle widespread debt problems, governor says
Argentine central bank intervenes after Milei win
BCRA hikes rate 2,100bp and devalues peso after central bank opponent leads primary elections
DRC orders huge policy rate rise at unscheduled meeting
Increase is needed to combat accelerating currency depreciation and inflation, MPC says
El Salvador’s central bank licenses Binance
Move comes despite growing international regulatory concern over crypto exchange firm
IMF to make changes to financial assessment programme
Fund says FSAP should focus on smaller financial companies, business models and risk management
Bank of Ghana clarifies losses after Reuters report
Research director explains $5.4 billion loss for 2022 mainly due to debt restructuring
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
IMF’s Selassie calls for ‘pragmatism’ on exchange rates
Official challenges idea that resisting depreciation is always the best policy
Lebanon’s acting governor says he will radically change course
Wassim Mansouri pledges cuts to central bank financing and demands action from politicians
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
Central bankers to evaluate IMF evaluation office
External panel to scrutinise Independent Evaluation Office, after 2018 review found lack of “traction”
Malawi raises rates as inflation continues climbing
Russia-Ukraine war and adverse weather events exacerbating food inflation
Argentina reaches provisional agreement with IMF
Fund may continue loan despite non-compliance and ease reserve targets
German economy remains stagnant in Q2
Official figures show no growth as outlook for eurozone largest economy’s remains weak