Central Banking
New Solomon Islands minister reverses devaluation
SOLOMON ISLANDS - The new minister of finance, Laurie Chan, has revoked the 25 per cent devaluation of the Solomon Islands dollar announced by now sacked Finance Minister Michael Maina on 26 March.
Current crisis is nothing new to Argentina
LETTER - Letter from Professor Steve Hanke published in the US edition of the Financial Times, 4 April.
Aus PM welcomes RBA decision not to raise rates
AUSTRALIA - Prime Minister John Howard has welcomed the Reserve Bank of Australia's decision not to increase interest rates at its meeting today.
Japan prices to keep falling gradually - Hayami
JAPAN - Bank of Japan (BOJ) Governor Masaru Hayami said on Thursday he expected prices to continue to fall gradually as the economy deteriorated further although pressure from weak exports and excess inventories was easing.
Japan Lower House approves new BOJ board members
JAPAN - Japan's powerful Lower House of parliament on Thursday approved the appointment of two businessmen to the Bank of Japan's (BOJ) policy-setting board, to replace members whose terms expired at the end of March.
China updates rules for bank's risk management
CHINA - China's central bank has updated guidelines on internal risk management in an attempt to further coax commercial banks into reducing credit risk.
The big problem of small change
FEATURE - It is a curious fact, writes Paul Podolsky in Thursday's Wall Street Journal Europe, that the world's most trusted currency, the dollar, represents a claim on an asset no more tangible than the faith of the U.S. government. The same is true for…
Gov't demand changes in law on Nat Bank of Georgia
GEORGIA - Ministry of State Security of Georgia demands entering changes to law on National Bank of Georgia to study "doubtful bank enumerations".
Zimbabwe's c bank calls for debt issue discussion
ZIMBABWE - The Reserve Bank of Zimbabwe (RBZ), the country's central bank, has urged the government to intensify efforts to shift debt towards longer term securities to address the huge debt service burden, according to the Zimbabwe Inter-Africa News…
Yugoslavia readies forex law ahead of new IMF deal
YUGOSLAVIA - Yugoslavia said on Wednesday it would fully liberalise the exchange rate regime for its dinar currency and scrap floating ranges to help secure a new three-year loan from the International Monetary Fund (IMF).
Speech by H Kohler, Managing Director, IMF, 21 Mar
SPEECH - In the speech titled 'The Monterrey Consensus and Beyond: Moving from Vision to Action' Kohler hailed the proposed document Monterrey Consensus saying that he was encouraged by the unprecedented degree of agreement about what is required to…
McDonough - Argentina must find its own solutions
ARGENTINA - The solutions to Argentina's current economic crisis must be found mostly by the country's own leaders, rather than through bailouts from outside the troubled nation, Federal Reserve Bank of New York President William McDonough said Tuesday.
Kazakh c bank says expects rating upgrade
KAZAKHSTAN - Kazakhstan's central bank said on Wednesday it expected the country's sovereign credit rating to be upgraded this year and to reach investment rating level next year, paving the way for large scale portfolio investment, reports Reuters.
Bangladesh considering floating the taka - c bank
BANGLADESH - Bangladesh central bank governor Fakhruddin Ahmed said on Wednesday his country might consider floating the taka currency in an effort to further deregulate the money market.
Australia's RBA leaves rates unchanged at 4.25 pct
AUSTRALIA - The Reserve Bank of Australia Wednesday left interest rates unchanged following its April board meeting, despite expectations in some circles that it would begin the tightening cycle.
Boost for Germany's financial role
GERMANY - Recent reforms to modernise regulation of Germany's financial markets are likely to strengthen the country's position as an international financial centre, even though the government had to compromise on its proposals.
Sri Lanka c bank hands cheque clearing to local Co
SRI LANKA - The Central Bank of Sri Lanka has delegated the bank's operation of clearing cheques to local company Lanka Clear Ltd., reports the Daily News, quoting the central bank governor.
Speech by Anne Krueger of the IMF, 20 Mar
SPEECH - In the speech titled 'Growth and Reform in Russia' Krueger said Russia should aim for economic growth of between 4%-6% a year for the next 10-15 years.
IMF Working Paper Series
RESEARCH - Regulatory and Supervisory Independence and Financial Stability by Marc Quintyn and Michael Taylor of the Monetary and Exchange Affairs Department of the International Monetary Fund, March 2002.
Reserve Bank of Australia - Chart Pack
REPORT - A Collection of Graphs on the Australian Economy and Financial MarketsLast updated, 28 March 2002.
Basel Committee on Banking Supervision
REPORT - Supervisory Guidance on Dealing with Weak Banks, Basel Committee Publications No. 88, March 2002.
IMF stresses Polish c bank must remain independent
POLAND - The International Monetary Fund expects a limited reduction in official Polish interest rates in 2002, as 900 basis points of cuts over the past 12 months take effect, but it harshly criticized government coalition members' attacks on the…
US-based professor new Afghan central bank chief
AFGHANISTAN - An American-based university professor and former merchant banker on Sunday was appointed to probably the toughest finance job in the world - governor of the Afghan Central Bank.
President of Bank of Estonia's earnings
ESTONIA - The pay of the Estonian central bank's President Vahur Kraft totalled 874,186 kroons (EUR 56,000) in 2001, of which the 12-month salary made up 486,360 kroons.