World Bank
Georgieva keeps job as Yellen promises further scrutiny
Evidence did not “conclusively demonstrate” the IMF chief played an “improper role”
IMF board fails to decide on Georgieva
US and Japan call for resignation but China and many European countries back IMF head
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
Ex-US Treasury head speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord and ‘unknown unknowns’
Stress tests key for financial stability – Benchmarks participants
Most Benchmarks participants conduct stress tests more than once a year, but methods vary
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
IMF ethics committee investigating Georgieva allegations
Executive board promises “thorough, objective and timely review” of alleged “improprieties”
Report accuses Georgieva of changing data under Chinese pressure
IMF head rejects allegations made by World Bank-commissioned independent report
Book notes: Robert Triffin, by Ivo Maes with Ilaria Pasotti
Triffin’s story is well told by Maes, whose extensive personal and academic research shines through
Bank of Zambia governor resigns
Mvunga leaves following change in presidents, amid high inflation
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
Central banks can improve reserves handling – World Bank
Direct board involvement, trading office setups and finance ministries all matter, report finds
Asset purchase programmes prevalent among advanced economies
But just 17% of emerging market economies said they operate a purchase programme
Myanmar authorities shut banks amid growing crisis, report says
Private banks closed from August 16 to August 22 amid ongoing cash crisis, reports allege
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
US and IMF block Taliban access to Afghanistan assets
IMF will not allow Taliban to receive SDRs, while US freezes central bank reserves
Somalia re-launches payments system after three decades of absence
World Bank played key role in restoring system to war-torn country, governor tells Central Banking
Criteria for systemically important payment infrastructure differs
Thirty-one out of 37 central banks said they designate systemically important payment infrastructure
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments, to support a large allocation of ‘official’ IMF SDRs
People: Bank of Canada appoints top payments regulator
Iceland’s central bank appoints new CEO and World Bank names country directors
Mountfield to become World Bank vice-president, sources say
More people news: Atlanta Fed names senior VP, and Fed’s first supervision head goes to US Treasury
CBDCs provide ‘clean slate’ for cross-border payments, says report
International bodies urge central banks to bolster CBDC co-operation
World Bank appoints Caribbean and central Asian directors
New York Fed names chief of innovation hub and St Louis appoints head of economic equity institute
Somalia’s governor on rebuilding its central bank
Governor Abdullahi discusses payments systems and reviving Somalia’s war-damaged economy
Central banks leverage multimedia communication channels
Around a third have added podcasts, mobile apps and blogs to their comms repertoire