World Bank
Trump administration nominates David Malpass as next World Bank head
Nomination comes despite inaccurate pre-crisis predictions and criticism of global institutions
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana
Fintech poses “serious” challenge to governance, says former PBoC deputy
Li Dongrong warns of fintech spillover risks, regulatory arbitrage and digital divide; dismisses PBoC use of ‘untested’ blockchain
Basel rules force small countries to face irrelevant risks – Bahamas governor
Stress-testing parameters irrelevant for many small jurisdictions, Rolle says
Emerging market governors back targeted capital controls
Governors says capital flow measures can be important tools in some circumstances
Nordhaus and Romer win economics Nobel
Economists specialising in long-run macroeconomic modelling win 2018 Nobel Prize
Sub-Saharan Africa increasingly exposed to debt risks
Public sector borrowing and tighter financial conditions a challenge for regional reserve managers
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
World Bank names new chief economist
Pinelopi Koujianou Goldberg brings deep experience of trade economics; predecessor Paul Romer spent a turbulent 15 months in office
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power
After the Congress – Interpreting China’s new development concept
As Xi Jinping Thought is enshrined in the Constitution, Justin Lin, IFF member and former chief economist at the World Bank, calls for far-reaching innovation in all sectors of industry and finance to attain the goal of national rejuvenation
Lower inflation in LatAm threatened by debt, says World Bank’s Vegh
Public debt for Latin American region tops 50% of GDP
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
Public debt in low-income countries rising to risky levels – IMF
The fund recommends official creditors co-ordinate their response to debt crises
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
Central banks should not be underestimated – DTCC chief
Michael Bodson says central banks will always find a way to deal with crises, even without interest rates at their disposal; Hélène Rey says interconnectedness of system is a risk
Davos experts weigh risks of future crisis
High debt levels, a rise in real interest rates and China are on the agenda for the panellists, who believe another financial crisis is inevitable
Bank Negara buys land to create ‘financial education hub’
The land is intended for institutions promoting research into Islamic finance
Stifling cross-border banking hurts developing countries – World Bank
World Bank offers advice on successful cross-border banking but warns developing countries against over-reliance
Fed should have adopted BoE approach to mortgage lending – Tarullo
BoE’s approach to leveraged lending aimed to prevent “hard stop”, Cunliffe says; caps on mortgage lending were enforced by UK central bank in 2014
Renminbi ‘crucial’ for reserve managers – Isabelle Strauss-Kahn
Central banks must consider how Chinese currency fits into reserves - World Bank expert