Middle East
Heavy snowfall forces Central Bank of Jordan shutdown
Central bank and commercial banks were forced to close their doors as the Middle East was battered by a freak snowstorm; president urged people not to venture out
IMF hosts Middle East forum on Basel III compliance
Middle Eastern countries work together to ensure adequacy of local lenders' capital and liquidity; new report credits region's ‘strict capital quality rules'
Central Asia's central banks should shift attention to communication strategies – IMF
While some central banks in the Caucasus and Central Asia ‘require further development of instruments', others may ‘shift attention to communication strategies
Gulf statistics centre to promote transparency by working ‘hand-in-hand' with IMF
GCC-Stat, a joint effort by the Gulf states to improve collation of national data, hailed by IMF as an ‘important boost' that will harmonise implementation of international standards
Central Bank of UAE opens first ever discount window
The Central Bank of the United Arab Emirates will introduce a standing liquidity facility next week, offering banks overnight loans at 100 basis points above official repo rate
No ‘credit crunch' in the Middle East after Basel I, IMF paper finds
Despite higher capital adequacy ratios, banks expanded credit and asset growth, according to new research
IMF ‘policy book' tackles Mena central bank challenges
IMF's monetary and capital markets department analyses operational frameworks of Mena central banks, and obstacles to monetary policy; urges Basel III adoption
Conundrum facing reserve managers set to continue, say Nalm speakers
Central bank reserve managers to face further challenges about where to allocate their resources as reserve levels look set grow
Israeli governor airs fears over impact of European slowdown
Stanley Fischer discusses European economic strife impact on Israeli growth prospects; expresses worries over possible methods for increasing defence budget
FSB Regional Consultative Group meetings continue
Middle East and North Africa consultative group is latest regional FSB body to meet; discussed financial vulnerabilities of the region
IMF paper identifies scope for inflation targeting in Mena countries
Fund study says central banks in Middle East and North Africa can follow emerging market trend in adopting inflation-targeting frameworks
Outlook rosier towards the East: ECB paper
European Central Bank study says macroeconomic fluctuations look better in the east than west
IMF paper on steps to adjust Middle Eastern current accounts
Fund study identifies steps to reduce imbalance in current accounts of Central Asia and the Middle Eastern countries
Central Bank of Oman - Annual Report (2010)
Central Bank of Oman 2010 Annual Report highlights economic impact of political uprising in Middle East
SWF legal immunity poses challenge for lawmakers
Panel on sovereign wealth funds says use of foreign immunity in legal disputes could jeopordise independence of funds
Algeria’s Laksaci warns against advanced economy risks
Bank of Algeria governor Mohammed Laksaci says sluggish growth in advanced economies is creating uncertainty over global recovery
Greek debt crisis sparks widening of almost all global CDS spreads
Cost of protecting against a Greek default up 190% in three months to mid-June as CDS spreads widened for 93% of sovereign debt on back of sovereign debt crisis in Europe
IMF: FDI undermined competitiveness in central and eastern Europe
An IMF study on real effective exchange rates reveals large volumes of foreign capital flows reduced competitiveness in central and eastern and European countries
UAE’s Al-Suwaidi says economy will grow 4% in 2010-11
UAE central bank governor Al-Suwaidi says growth will be 4% despite recent volatility in oil prices; substantial increase on IMF forecasts
Economic cycles in Middle East, North Africa and Pakistan
New IMF paper analyses recessions and recoveries in Middle East, North Africa and Pakistan
Middle East and North Africa’s trade below potential
International Monetary Fund looks at trade constraints in the region
Housing cycles and the macroeconomy in the Middle East
International Monetary Fund paper calls for more research into the linkages between house prices and business, and an improvement to the range and precision of data
Oman signs up to new FX, payments system
Central Bank of Oman’s move represents part of a broader trend by emerging-market central banks to refine operational systems