International
The IFF China Report 2020: Regional and multilateral co-operation
The Belt and Road Initiative has expanded to corners of the globe never thought possible; investment in Latin America, Africa and the Caribbean has strengthened free trade and fostered positive development. But there is still work to be done to ensure a…
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
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
Basel Committee ‘stock take’ highlights progress on climate risks
Members are conducting research and issuing guidance, but most are not yet making changes to capital frameworks
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
BIS and G20 launch cloud-based ‘tech sprint’
New initiative will help regulators leverage technology to improve supervision of financial sector
World Bank pays out after triggering pandemic bonds
Requirements for funding release were met on March 31; since then, Covid-19 cases in poorest countries have doubled to 1.34% of the global total
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
Coronavirus latest: Central banks respond to the Covid-19 crisis
Live coverage as central banks respond to the virus outbreak (live feed is now closed)
The IFF China Report 2020: Green finance and fintech
Green finance has been steadily growing over the past few years. As China has come under greater scrutiny about the scope of its projects, the Belt and Road Initiative has evolved to foster sustainability both in terms of debt servicing and…
BIS paper flags ‘barren patches’ in post-crisis reforms
Reforms have boosted “shock-absorbing capacity” but some problems persist, authors say
Economic impact of Covid-19 to last until at least 2021
Difficult to predict how control measures will impact economy, epidemiologist says
IMF launches new dollar emergency liquidity facility
Facility could fill “critical gap” left by central bank dollar swap lines, senior IMF official says
Pandemics can depress natural rates for multiple decades – SF Fed
Real wages tend to rise gradually for 30 years after pandemics, data stretching back to 1340s shows
Banks’ ‘geographic complexity’ raises some risks and cuts others – BIS paper
Global reach has complex effect on banks’ risk profiles, authors find
The IFF China Report 2020: The Belt and Road Initiative
Over the past six years, China has invested more than $500 billion in the Belt and Road Initiative (BRI) – of which there are now in excess of 150 participating counties and organisations. Leading Chinese and international policy-makers explain how BRI…
FSB consults on cyber attack ‘response and recovery’
“Efficient and effective response” is critical to minimising the financial stability impact, report says
Global carbon taxes are coming: central banks must prepare
The next financial crisis could be a green one. Are central banks doing enough to prepare?
Shadow banking increases need for asset purchases – ECB paper
Large non-bank financial sectors can impair transmission of monetary policy, paper finds
IMF’s new credit line will fill “critical gap” – Georgieva
Short term liquidity line will grant member countries up to 145% of their quota
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…