Debt
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
Charted: rush for dollar liquidity fades
Figures from central bank dollar repo facilities show waning demand, but outstanding swaps still high
BdF paper looks at household vulnerability
High levels of household debt magnify negative shocks and weaken positive ones, researchers find
IMF approves new programmes in support of weaker economies
Over the past week the fund has given the green light for disbursements in Bosnia, Paraguay, DRC and Mauritania
RBI steps in with liquidity line for mutual funds
Injection of $6.6 billion comes as Franklin Templeton shuts down six funds
Bank of Japan steps up stimulus with unlimited JGB purchases
BoJ drops limit on government debt and quadruples corporate bond cap, but it is unclear if purchases will actually increase
US default rates could hit 8.1% without policy action – Richmond Fed
Loan forbearance policies could see this drop to “essentially zero” in 2021, researchers say
ECB changes collateral rules in effort to shield bank funding
Assets below investment grade will be accepted by ECB as collateral until September 2021
G20 agrees debt relief for poorest nations
IMF and World Bank welcome “powerful, fast-acting initiative”
IMF urges countries to use fiscal firepower against Covid-19
“Do whatever it takes, but make sure to keep the receipts,” says IMF fiscal chief
IMF projects deepest recession since Great Depression
Global growth could contract by between -3% and -6% this year, a combined loss of output of $9 trillion for 2020 and 2021
The IFF China Report 2020: China’s opening-up
Extending from east to west, China’s Belt and Road Initiative now encompasses as much as 65% of the world’s countries and a significant portion of global GDP. When first announced, investment was primarily targeted at transport infrastructure – but this…
Crises enliven ‘totalitarian temptations’
The coronavirus pandemic will embolden governments and bodies such as the International Monetary Fund to grasp for more power, writes Steve Hanke
Indonesia gains ‘second line of defence’ from $60 billion Fed repo
Bank Indonesia secures repo with NY Fed to boost dollar liquidity and shore up rupiah
IMF doubles emergency lending capacity
Fund considering other options including SDR issuance, says Kristalina Georgieva
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility
Central banks may have to become ‘dealers of last resort’ – BIS economists
EMEs have not overcome “original sin” by deepening local currency bond markets, authors warn
Is the ESM the eurozone’s best weapon against Covid-19?
Eurobonds face economic and political hurdles, say former officials
China cuts rate on excess reserves for first time in 12 years
PBoC levels up stimulus, cutting rate on excess reserves while reducing RRR for the third time this year
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?
Dutch former governor attacks PM for blocking eurobond
Nout Wellink says Netherlands must prevent further debt crisis in Southern European countries
Cares Act a very good start, but US may need bigger fiscal response – Rosengren
Boston Fed president warns pandemic could have significant impact on real estate market
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
Fed opens dollar funding to majority of central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars