International
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…
G20 agrees debt relief for poorest nations
IMF and World Bank welcome “powerful, fast-acting initiative”
IMF urges countries to use fiscal firepower against Covid-19
“Do whatever it takes, but make sure to keep the receipts,” says IMF fiscal chief
Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
FSB co-ordinating Covid-19 response – Quarles
Board is focused on protecting financial stability both during and after the pandemic, chair says
Financial resilience may be tested further by Covid-19 – IMF
“Sudden stop” in credit markets could feed back to real economy, and requires a “forceful response”
IMF takes new steps to support weaker countries
Fund approves immediate debt relief for 25 countries; offers Ghana $1 billion to fight Covid-19
IMF projects deepest recession since Great Depression
Global growth could contract by between -3% and -6% this year, a combined loss of output of $9 trillion for 2020 and 2021
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