Argentina
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
FX market intervention key tool for emerging market economies
Central bank markets departments perform a wide range of different roles
Brazilian minister says Mercosur could have single currency
President has also suggested monetary union with members of trade area
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Argentine court drops charges against governor
Former governor Alejandro Vanoli and other officials cleared in dollar futures scandal
Central Bank of Argentina calls for investigation of IMF agreement
Fund granted South American economy over $57 billion in 2018, its largest-ever package
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
Argentinian central bank puts cap on imported luxury goods
BCRA bids to preserve foreign currency as international reserves decline to $39.4 billion
Argentina changes rates without public notification
Central bank continues its plan to close the gap between main policy rates
IMF staff praise new Argentina stabilisation plans
Buenos Aires requested a new support programme in August
Argentina’s central bank attempts monetary balancing act
Central bank tries to increase government access to pesos while raising repo rate
Argentine peso falls after central bank changes regime
Spread with unofficial exchange rate widens further
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery
Foreign financing can help exporters survive – BIS paper
Result could be important for the development of emerging economies, authors say
Argentina strikes deal to restructure $65bn debt
Next step could be a return to programme negotiations with the IMF
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
IMF staff: Argentina’s debt restructuring plan could restore sustainability
Staff give positive assessment but say there are major risks
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Argentina’s central bank takes part in blockchain clearing pilot
Test system will use smart contracts with timestamping from the bitcoin blockchain
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
IMF staff say Argentina’s debt is unsustainable
Report calls for haircut for private creditors as Argentine government demands IMF debt forgiveness