Capital controls
Argentine candidate promises TV exposé of ‘empty’ BCRA vaults
Bullrich says currency controls “are eating the reserves”
West African central bank freezes Niger’s accounts
BCEAO cancels bond issue after military detains elected president
PNG central bank dispute leads to fuel rationing
Papua New Guinea central bank has accused fuel importer of failing to repatriate earnings
IMF grants Burundi $271 million loan
Burundi must liberalise currency regime, end central bank financing and tighten policy
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Argentina raises rates again
Economic stability grows more distant as elections loom
Macro-pru helps dampen global shocks – BIS paper
Authors find capital controls are less effective than prudential tools at offsetting shocks
Argentina orders 1,000bp rate hike as peso struggles
Central bank tightens for second time in a week
Bolivian officials say reserves problem is temporary
Central bank sells SDRs as dollar scarcity and legislative gridlock persist
PBoC has ‘by and large’ ended FX intervention, says governor
But Yi Gang declines to give a timeline for full renminbi convertibility
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
IMF approves $15.6 billion for Ukraine
Fund calls wartime loan “unprecedented” and risky
Iran imposes FX controls as currency falls again
Commodities inflation bites ahead of upcoming new year
BIS paper proposes new capital flow management tool
Offsetting capital flows rather than blocking them could be the optimal choice, authors say
Nepal central bank prohibits overseas investments
Move follows import restrictions in 2022
‘Geo-economic fragmentation’ could cut GDP by 12%, says IMF
Georgieva says world faces “new Cold War”, putting global financial stability at risk
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges. Central Banking looks back at the stories that made the biggest impact this year
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Myanmar sentences ex-deputy governor to 20 years
Supporters say Bo Bo Nge was “incorruptible” and reject military regime’s charges
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
FATF puts Myanmar on money-laundering blacklist
Move may increase economic pressure on military junta as currency crisis grows