Iraq
Bush meets Fed chief to indicate priorities
Fed chairman Alan Greenspan met with George Bush earlier this week to brief the US president on the state of the US economy, according to a report in the Financial Post. The meeting came as Mr Bush prepared to ask Congress for at least US$70-billion to…
Iraq cb governor's complaints re Iraqi funds
A report from the BBC claims that Iraqi TV has broadcast an interview with the governor of the Central Bank of Iraq, Issam Rashid Hwaish, in which he accused the US authorities of "an act of piracy" by seeking to take over Iraqi funds which had already…
RBA's McKibbin sees long slowdown
The U.S.-led war in Iraq will drain the world economy for years to come, sapping income from a wide range of countries, Australian central bank board member Warwick McKibbin has said, it is reported by Reuters
BoJ calls emergency meeting on Iraq
The Bank of Japan held an emergency meeting on Tuesday 25 March to discuss what effect war in Iraq might have on the Japanese economy, according to a report by Associated Press. The bank also announced that it would increase its purchase of commercial…
Asia prepares for impact of Iraqi war on markets
Contingency plans are being made for Asian markets to maintain normal functioning during the Iraqi conflict, according to a report in the Wall Street Journal.
US plans to seize Iraqi assets worldwide
Funds held worldwide by the Iraqi government will be seized and transferred to the New York Federal Reserve for holding, according to a BBC report. This includes money held under the names of the Central Bank of Iraq and the State Organization for…
ECB Press Release on the war in Iraq, 20 March
Statement of the ECB's Governing Council following the start of military action in Iraq, 20 March.
Interview with former governor - Iraq central bank
INTERVIEW - Salah al-Shaikhly was a Governor of the Iraqi Central Bank in the early 1970s. In an interview published by Reuters on Wednesday March 19, he told how Saddam Hussein's regime had ruined the Iraqi economy running up a debt of US$ 112bn. He…
US plans post war change to Iraq's central bank
The US Treasury is making plans for the running of Iraq's economy after a US led war on the Gulf state ends, according to The New York Times. The plans include the rebuilding of the Iraqi central bank and the establishment of a new currency.
Fed's Gramlich: Iraq impact 'imponderable'
Ed Gramlich of the Federal Reserve said on Thursday that a conflict with Iraq would have consequences for the US and world economy but that the effects were impossible to predict.
Can't compare today's economic problems with 1991
ARTICLE - Stephen King looks at Alan Greenspan's testimony and says comparing the current economic position with the 1990-91 experience is rather futile. Both periods involved Iraq and at least one period will have involved war. Other than that however,…
EU Commission wants joint action by central banks
The EU Commission is in favour of a joint effort by all international central banks if a war in Iraq should weaken the world economy, financial daily Boersen-Zeitung said, citing an internal note from the EU's economic and monetary affairs commissioner…
Prodi urges more flexibility on Pact
European Commission president, Mr Romani Prodi, has called for more flexible rules governing the 12-nation euro zone, amid warnings that war on Iraq could throw the region's economy further off course. Prodi famously referred to the Pact as 'stupid'…
Ex-central bank official sees Gulf conflict profit
A former vice-governor of the Central Bank of Lebanon says that the imminent US-led war against Iraq might hold more than a negative impact on this country.
Greenspan testimony questions stimulus for economy
Federal Reserve Chairman Alan Greenspan said on Tuesday that uncertainties over a possible war with Iraq posed "formidable barriers" to business spending and made it tough to gauge the U.S. economy's health.
Swedish central bank warns on Iraq uncertainty
Sweden's central bank has warned that uncertainty surrounding a potential war with Iraq may take their toll on investment and economic growth throughout Western industrialised economies.
Ferguson: Can't predict war impact on economy
Federal Reserve Vice Chairman Roger Ferguson said on Wednesday it is very difficult to gauge how a potential war with Iraq would affect the U.S. economy.
Gold price soars on war talk concerns
Worries that US Secretary of State Colin Powell's speech on Iraq could be a harbinger of war sent gold soaring to a six-and-a-half year high on Wednesday as investors piled into the traditional safe haven in times of trouble.
Fed's Bernanke-U.S. recovery to pick up post-Iraq
Federal Reserve Board Governor Ben Bernanke said on Monday that if the geopolitical uncertainty surrounding a possible war against Iraq is soon resolved, the economy should grow above potential in the second half of the year.
Fed's Parry-reason for uncertainty on U.S. economy
San Francisco Federal Reserve President Robert Parry said on Friday the threat of war with Iraq and the risk of terror attacks have created much uncertainty about the U.S. economic recovery.
Broaddus sees recovery continuing in 2003
Richmond Federal Reserve President Alfred Broaddus on Thursday said he saw the U.S. recovery rolling ahead this year, while cautioning that risks still lurked, such as a long war with Iraq and the seven-week-old Venezuelan workers' strike.
BIS meeting - Central bankers wary of Iraq war
Central banks need to watch the situation in Iraq closely and be prepared to act to stop any war damaging a modest world economic pickup in 2003, Bank of England Governor Sir Edward George said on Monday at a regular BIS meeting in Switzerland.
Central bank pledges support for Saddam Hussain
At the end of the second conference for Iraqi banks on Monday the Governor of Iraq's central bank, Ossam Rashid Howash pledged his support for President Saddam Hussein.
Baghdad puts out the welcome rug for banks
Iraq, under economic sanctions for 11 years and faced with the threat of attack by the US, is trying to attract foreign banks to the country. That's the message Issam Racheed Hwaish, governor of the Iraqi Central Bank, laid out at the weekend as he…