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Asia-Pacific

A punch bowl made in China

China is supplying a punch bowl to keep the party going despite the Federal Reserve's best efforts, according to an article published on Wednesday 10 August. So consumers can thank Beijing and other Asian central banks for all the cheap credit, it says.

Pressure on Asia to shift reserves

Asian central banks may have to shift up to $500 billion in reserves from dollars to euros and yen or risk foregoing $28 billion a year in potential revenue, according to a report published by Goldman Sachs Group.

ADB chief calls for early yuan shift

Asian Development Bank President Haruhiko Kuroda said on Tuesday 14 June that China should shift to a more flexible currency regime at an early date as such a move would benefit China and the rest of the world.

Is the IMF an endangered species in Asia?

This article says last week's meeting of the Asian Development Bank marked the resurrection of the idea of an "Asian Monetary Fund". This step, along with the Asian Bond Fund, will not only move Asia further down the path of integration, but also reduce…

Fed's blunder should make Asia green with envy

This article published on Thursday 5 May says no policy maker in Asia can claim to match the Fed's mastery over "open mouth operations". Where many of the Asian central banks go wrong is in thinking they'll get more respect from the market by being…

Asian central banks set to gather for ACU meeting

Heads and representatives of central banks from ten countries, including India, will visit Pakistan later this month to attend an annual meeting of the Asian Clearing Union, an official of the State Bank of Pakistan said on Tuesday 3 May.

Asian central banks' dilemma

Diversification away from dollar denominated foreign exchange reserves is a natural reaction for Asian central banks, this article says. But because of the size of their holdings, any sudden move to sell a substantial part of these holdings could cause a…

Ex-Fed's Wyss says Asia should diversify reserves

Asian central banks need to diversify their foreign reserves but in doing so, they should allow the local currencies to appreciate against the dollar, a former US presidential economic adviser and Federal Reserve governor said on Thursday 3 March.

Asian central bankers affecting markets

The dollar's nearlythree-year decline has led many central banks to consider diversifying into other types of money, especially in the face of a more valuable euro. According to this article, the reaction to recent comments from South Korea serves as a…

Foreign reserves, Asia's problem of plenty

The dilemma facing many of emerging Asia's economies over how best to use their massive stock of dollar reserves is hardly new, this article says, but some economists suggest spending central bank reserves on domestic projects, rather than leaving them…

ASEAN currency swap deal extended

Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.

Interview: Alexander Swoboda

Governments, not central banks, hold the future of the world economy in their hands. Without action, preferably coordinated, on both sides of the Atlantic and in Asia, the outlook is grim says Alexander Swoboda.

IMF's Krueger on reforming economies

In a speech on 'Shared experience: What reforming economies have in common' given on 14 January, Anne Krueger of the IMF said India should tread a cautious path as far as infrastructure spending is concerned, since too much spending can trigger high…

Statement by IMF's Rato at ASEAN Leaders' Meeting

Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement on Thursday 6 January at the high-level meeting on humanitarian relief for countries affected by the Asia tsunami disaster in Jakarta, Indonesia.

Statement by IMF's Rato ahead of Jakarta meeting

Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement on Wednesday 5 January after arriving in Jakarta, Indonesia, for a high-level meeting on humanitarian relief for countries affected by the Asia…

G8 plan Asia debt relief

The world's richest nations are likely to agree to freeze debt repayments for nations devastated by the Indian Ocean tsunami, according to Britain's treasury chief Gordon Brown.

BIS to administer EMEAP's investments in ABF2

The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group, comprising 11 central banks and monetary authorities in the East Asia and Pacific region,1 announced on Thursday 16 December the launch of ABF2, the second stage of the Asian…

EMEAP central banks announce launch of the ABF2

The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group comprising 11 central banks and monetary authorities in the East Asia and Pacific region announced the launch of the second stage of the Asian Bond Fund (ABF2) on Thursday 16…

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