Capital controls
Zimbabwe freezes all bank lending
President announces controls on money creation to stem decline of currency
NBU plots path out of war economy
Ukrainian central bank turns to monetary financing as government struggles to pay for war
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Argentina orders 200bp rate increase, to 44.5%
Tighter monetary policy is in line with IMF deal, while neighbour Paraguay makes 50bp hike
Outsider arts: how Russia might adapt to sanctions
The history of the USSR and actions by other sanctioned countries may give clues to Russia’s next moves
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Argentina raises rates for first time since 2020
BCRA raises benchmark rate 200 basis points, as IMF talks continue
Book notes: The cost of free money, by Paola Subacchi
A book worth reading, as it facilitates further discussion on substantial issues, but doesn’t fully address some of the problems it takes aim at
Brazilian Senate passes new FX law
Central bank will regulate foreign currency accounts under law now on president’s desk
BdF paper looks at use of capital controls and foreign reserves
Many countries combine both to moderate effects of international capital flows
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Asset sell-off biggest threat to Chile’s financial stability – Marcel
Governor reiterates warning against further pension withdrawals
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
MAS and RBI to link up payment systems
New linkage will allow for automation of capital controls, say authorities
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown
Myanmar authorities shut banks amid growing crisis, report says
Private banks closed from August 16 to August 22 amid ongoing cash crisis, reports allege
US and IMF block Taliban access to Afghanistan assets
IMF will not allow Taliban to receive SDRs, while US freezes central bank reserves
The renminbi’s rise to prominence: focus report 2021
Central Banking explores the impact the addition of the renminbi to the SDR basket has had on internationalising the Chinese currency; central bank reserve managers share their views on including the renminbi in their portfolios; and we take a look at…
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
China’s capital controls: here to stay?
With China’s share of the domestic central government bond market significantly increasing in just a few years, and the International Monetary Fund including the renminbi in its special drawing rights basket of currencies, China is enjoying growing…
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
China abandons cryptocurrencies under the PBoC (this time it’s for real)
New data centres set to be established to compensate provinces for lost crypto mining revenues
Cuba bars dollar cash deposits
Country struggling with sanctions as inflation spirals
US imposes sanctions on Myanmar central bank governor
Treasury targets new slate of senior officials in military regime