Current account
IEO calls for IMF to rethink house view on capital controls
Independent review says 2012 reform was helpful but still suffers from shortcomings
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan
Detail matters when monitoring external imbalances – IMF research
Gross external debt is one of the clearest signs of vulnerability, study finds
IMF economists call for action on global imbalances
“Excessive” imbalances exist in 40% of cases, though they have narrowed slightly
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
Should the Fed be next to implement yield curve control?
The Reserve Bank of Australia is now the second G20 central bank trying to control longer-term interest rates. Could the Fed be next?
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Dutch corporate sector is key source of current account surplus
SMEs save to finance investment due to higher borrowing rates than large companies
Brazil likely to end easing cycle with 50bp rate cut
Record-low rates will suffice to boost growth in 2020; inflation up on weaker real
SBP looks back on tough year for Pakistan
Lack of fiscal consolidation hampered central bank’s crisis response, annual report says
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
Global imbalances require ‘carefully calibrated’ policies – IMF
Report comes as G20 leaders warn about imbalances concentrated in advanced economies
Cambodian central bank voices concerns over possible Chinese spillovers
Central bank fears a sharp drop in property market could trigger financial system risks
Zhou on four key decisions that forged the modern-day PBoC
Former People’s Bank of China governor Zhou Xiaochuan shares his perspectives about four critical moments in China’s economic reform agenda
Capital outflows further reduce Turkey’s reserves in March
Current account deficit falls, but the economy’s weak external position remains unchanged
Emerging markets Argentina and Turkey: mission impossible?
High international debt exposures, large deficits and institutional frailty have fuelled capital outflows, weaker currencies and soaring inflation in Argentina and Turkey. Does the US Fed’s pause give the EM central banks reason for hope?
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
NY Fed official sketches key factors for balance sheet plans
Fed’s nominal securities purchases may be higher than before crisis, official says
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
Pakistan starting to recover from imbalances – SBP
Central bank hikes policy rate while highlighting some signs of improvement in the external balance; IMF mission chief meets authorities for initial programme talks
Turkish lira depreciates as reserves fall sharply
Forex reserves have fallen by 8% in first three weeks of March, according to central bank data